Who wants to learn how to get super rich? I know I do, although, it is more of the financial freedom that comes from having more money that’s more appealing. Tony Robbins sat down with Larry King to talk about what he learned from writing his book, MONEY Master the Game, and how to become rich through investments. Who’s Tony Robbins? He is a life coach, entrepreneur, and philanthropist. He has written self-help books and is a motivational speaker to motivate people to improve their lives including the financial aspect.
In the interview with Larry, Robbins discusses two things wealth people are commonly obsessed with: not losing money and asymmetrical reward. The asymmetrical reward is a system where you take the least amount of risk to get possibly the biggest reward. It’s about calculating the risks and taking lowest chance to gain significant rewards which require us to have an understanding of both the risks and rewards and assess the potential downsides before making a decision. According to Robbins, you don’t have to have a lot of money, and it’s a wrong assumption we have about investing. What makes the difference and make us money is taking small amounts of money and compound it to make us money over the years.
He talks about the first things we need to do which is become an owner or investor no matter how much money we have. It’s about saving a small percentage of 10 or less to a saving account or in a retirement account. The idea is to trick ourselves into keeping more money in the years to come by having the first percentage taken away from our check.
In addition to keeping an eye on how you handle your money, Robbins found that a common thread among the wealthy is hunger. He isn’t talking about food hunger but the hunger to strive. A desire to be more, do more, and give more, eventually a hunger that never ends. Someone one who is continuously striving to improve and better result into having people who are the best at whatever they do. There needs to be a strategy with the motivation and energy driving you to move otherwise there is no real meaning to what you’re doing. He mentions that what he’s learned is you get what you tolerate in yourself and life. This an interesting concept to think of and ask ourselves when we reflect on our personal and professional life, and whether we want to change that about us. One of the advice given to him from his previous mentor and he now shares is “for things to change, you have to change; for things to get better, you have to get better.” It’s insightful advice to give since it requires us to reflect on ourselves and how were the ones who can make the difference in our lives. What are some key points you will be taking from Robbins to apply your life to achieve your personal and professional goals?