[Tony Robbins Money Master The Game Pdf Download
Tilo Chopin
What are the best goals? Start with basic money management: Make a budget. Pay off your debt. Create an emergency fund. Then, you can start investing and create goals like diversifying your assets, achieving a certain yearly return, and more.
One of the best ways to do this is to use the power of proximity: surround yourself with successful people and model them. You can join a mastermind group, attend events like Business Mastery, or find a mentor. Most successful people have had mentors in their lives, including Tony himself.
This week, Robbins' first book in over 20 years, "MONEY Master the Game: 7 Simple Steps to Financial Freedom," comes out. It's a personal finance book that draws upon interviews Robbins conducted with 50 of the world's most talented investors, including billionaires Carl Icahn and Ray Dalio.
Tony Robbins: I wanted to do something that would help the masses. I've been teaching these principles for decades, but the system has gotten more and more complex, as you well know. There are just unlimited terms that people don't even understand anymore. And because of the complexity, people don't usually take action.
And the tipping point for me was watching this documentary called "Inside Job," which eventually won the Academy Award. What was amazing about it was probably the best of all the documentaries showing systemically how a small number of people almost blew up the entire world economy. And the "punishment" was they got bailed out and put on the path to recovery. So that leaves you feeling either really angry or really depressed because there are no solutions.
I thought to myself, "You know, I have a unique gift." Most people have no idea but for the last 21 years I've been coaching Paul Tudor Jones, one of the top 10 financial traders in the history of the world. This is a guy who in 2008, when the markets were blowing down to the floor, he made 28%, and the market was down 51% from top to bottom. Twenty years of being with him and he's made money every single year.
So I thought if I interviewed 50 of the smartest people in the world and asked, "Can the average person still win? How can they?" then I'd have something of value for people. And that's what made this journey happen.
TR: When I started to do this, Paul Tudor Jones asked me the same question. I said, "I want to get everybody." He goes, "Tony, you can't take something this complex and get everybody." But now he and Ray Dalio both said, "We've done it."
What I really want to do is reach the millennial that might just be getting out of school with a huge amount of debt and they're going, "How am I ever going to turn this around?" I want to reach the baby boomer who maybe took a hit in 2008 and they don't think it's possible to retire. And I want to hit the sophisticated investors who are like, "Holy shit, I don't have $5 billion and $100 million to start with, but I'd like to know what Ray Dalio actually does so that I can add some of those tools to myself." All three types of people can get great value out of this book.
Every form of power comes down to language. In law, there's all kinds of words you don't know if you're not a lawyer and that gives them power. In business, it's the same thing. If I said to you last year the third largest cause of death in the United States was iatrogenic causes, you might go, "Is that some form of Ebola?" No, it means physician or hospital induced. That's the third biggest cause of death. Well why don't they write that? Well, because it's not to their benefit. The financial world is full of "iatrogenic language."
I want to take what's complex and make it simple so that anybody can execute it. I want people to read this saying, "I'm in command of my financial future, and there's zero question I can be financially secure and/or financially free."
I got Paul Tudor Jones because I helped Pat Riley turn things around. He became the coach of the New York Knicks, and Paul was going through a difficult time, so he said, "You gotta talk to Tony." Jones said, "I don't need motivation." Riley goes, "He's not a motivational guy, just try him out, and he'll turn you around."
TR: I would say two things: Self-control and the threshold of control. Let me explain what I mean. Time is one of the biggest issues you'll see. People just do not know how to maximize their time. If you're going to be paid in the business world, you have to add value.
The way in which you execute and utilize time is everything. And most people push up against the threshold of their control. There's a certain level they know how to manage, in terms of people, their activities, their resources, their results. And when we go past these, they get overwhelmed and have regrets.
The ability to connect and influence people, that's the job of a leader. And we're all leaders at some level. It's not leadership by position that allows people to succeed; it's the capacity to influence the thoughts, the feelings, the emotions, and the actions of other human beings.
So those two skill sets: mastering time (and mastering yourself to do that) and mastering the ability to influence. I think they are really critical. And they show up for just about anybody who is on a growth path.
They're engaged, but how do you engage people when you have an organization that is growing dynamically at 20% or 30% or more? How do you achieve and have the depth of impact and have your culture spring from that and grow when more and more people are being added to it?
Or when you're in an industry that is aging, what do you do when the mindset of people is, "This is how we've always done it"? How do you turn it around? So it comes down to how do you engage, which really comes down to how do you influence.
Whether or not [the company] maximizes resources, that's the job of the leader. How do I get greater results using less resources? That requires an enormous psychology when the economy is changing, the technology is changing, and the competition is worldwide.
So the [CEO's] psychology is 80%, and 20% is the mechanical skills. I look to see what aspects of psychology have to be straightened out in this individual, what skillsets might be missing, and then I get a plan to help them implement that and help that leader become strong.
TR: I look to find what is it they're after. What is it that they want? What's missing? What do they fear? What do they desire? I would say that life is a dance between what you desire most and what you fear most. Because those are the limits of the human being.
And once I know what's really driving them, what they're really after, now I dig underneath and I try to figure out what are the obstacles. How much of them are skill-based, how much of them are psychology-based?
Then I develop strategies and plans of how do I lead that person to their own resources. Because if I tell you something, you can easily doubt it; but if you tell me, it's true. So my job is to help that leader crystallize what they're really after. Oftentimes they're obsessed with the problem. Great leaders spend 5% of their time on the problem and 95% on the solution, but we all get stuck at times. Something can rattle us a little bit.
So I uncover what those barriers are, and then I develop a systematic approach to basically violate the limitations that they have, while having them be the person in charge to make that happen. And how I do it changes with every person in every way. That's what makes what I do interesting, because it's never the same. It's never boring.
By the way, I asked for 45 minutes, but the average interview went three hours. Carl Icahn was the most extreme because I showed up with a video crew and he goes, "I don't want the video crew." He threw them out. I go, "Carl, you agreed to this." And he goes, "I don't care. I don't want 'em." So I said, "Okay, let's make it an audio tape." And he goes, "No audio tape!" I said, "What am I supposed to do?" He goes, "Bring a pen and paper. You've got 10 minutes." Three hours later, he's my buddy. He wrote an endorsement for the book.
[Warren Buffett's advice mentioned in the book] came from Ben [Graham], his teacher. It's, "What's rule number one in investing? Never lose money. What's rule number two? Don't forget rule number one."
That would be boring if that was the only universal piece besides the other one, which I find fascinating, was that they're not giant risk takers, most of them. They believe in asymmetrical risk reward. It simply means they take the smallest risk possible for the largest return possible.
TR: I don't think I have any regrets, but I can tell you what I learned from mistakes or failures. I've had plenty of those. I just don't believe in regret, and my economic world is not what I would ever have imagined; I'm financially free. How can you have any regret when everything worked out fine? But why I think it worked out fine is due to the lessons I learned along the way. And one of those involves listening to experts.
He came back to me and said they don't have the resources or capacity to make it. And I accepted that. I look back on Fiji Water and anytime I grab one I say, "Holy shit!" So use your experts as coaches and do your own homework and dig deep.
My first is investing in myself through education. I think self-education is the greatest and best thing you could ever make. Everything in life and business, you only earn more if you become more valuable. Because if you can do more for people than anybody else does, you can prosper. But you can't do that unless you're constantly educating yourself with the cutting edge. My whole life, even when I had no money, I would invest in education.
The second thing I'd say, and this is something I did early on, was the result of meeting Ken Blanchard. He told me, "Tony, your business will eat up whatever cash you have available when you're growing a business. You've gotta take something off the table...and make that investment money you never touch." And that money, quite frankly, at early stages in my business, when there are scary times, that money kept me afloat. I wouldn't have had that if I left it in the company to eat up.
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