The Lesson: What you don’t know will hurt you. People don’t know this; that you can’t earn your way to absolute financial freedom, but you can compound your way there. But where to put your money so it can earn the greatest return on compound interest? Robbins talks about strategy from other experts who have proven successful in helping out the average guy with investments.
Notable Excerpt: “People pick a mutual fund, not knowing what it is, and 96% of mutual funds never beat the market. And, the fees are just destroying people. People don’t even know what fees they pay. Most people are paying 2000x more for the same product because of fees. Asset Allocation is another key: Dividing your money into buckets. You have to diversify, but when you think you are in a balanced portfolio (50-50), you’re really not balanced in your risk. Stocks are 3x more volatile than bonds, so you are 95 at risk and 5 percent on the good side. That’s why everybody loses.”
The Speaker: Tony Robbins is a best-selling author, motivational speaker, life coach, philanthropist, and entrepreneur. The California-based strategist has become such an influential lecturer, over 4 million people have attended his live seminars. Tony has personally interviewed 50 of the world’s most brilliant financial minds to write the book “MONEY Master the Game: 7 Simple Steps to Financial Freedom”. All of the book’s proceeds are donated to charities that feed the hunger, and it is available for free, excluding the cost of shipping. The Tony Robbins podcast is also available for free on Spotify and iTunes with more of his longer motivational programs featured on his website.
The Host: After spending years of his young life and athletic career struggling with his own emotional wellbeing, a crippling injury left Lewis Howes without an identity and without any work. Instead of wallowing in self-pity, however, Howes recreated himself as a multi-million dollar media producer, motivational speaker, bestselling author, and podcast host. The ex-football player now spends his days chatting with the most inspirational icons of this generation on his School of Greatness podcast.
Books: Howes is the author of the New York Times bestselling book “The School of Greatness”: an in-depth collection of lessons and wisdom that he has gathered from interviewing hundreds of the world’s greatest role models and thinkers. Howes’s latest book, “The Mask of Masculinity”, is based on his experience with the dangerous stereotypes and expectations that are placed on men in modern society.
(LISTEN to the inspiring talk below) – Photo by 401K 2013, CC
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