THE MONEY MINDSET | Tony Robbins, Sadhguru, Vishen Lakhiani, Brendon Burchard
i really began to realize it doesn’t matter how much money you make it’s really your capacity to take your creativity and stop trading time for money it’s the worst trade in the world everybody’s a financial trader they don’t realize their trader they’re trading time and you can’t get more time the first thing you want to teach anybody a child a kid anybody is that you’ll never earn your way to freedom you just don’t you look around and you see you know kurt schilling if you remember from boston red sox yeah and a hundred million dollars a year he’s broke bankrupt asked warren buffet so what made you the wealthiest man in the world and he smiled and he said three things he said living in america great opportunities having good genes i lived a long time and he said the last thing is compounded interest and we all know about compound interest but i give an example the book of this guy theodore johnson worked for ups never made more than 14 000 in income in his entire life in a year and in old ages worth 70 million dollars and how do you do it all he did was he took a percentage of his income his percentage was 20 now his family said you can’t we can’t save any money but he met a friend who said if you pretend there’s a tax and the tax just took the money away from you and you never see it the money just comes out of your account goes an investment account you’ll be financially free so he was disciplined he didn’t look at it it happened 70 million dollars by compounding so people’s mistake is and kids don’t know this adults don’t know this that you won’t earn your way there but you can compound your way there what i want to do is say where do you put that money that’s the trick right that’s a secret well the first trick is actually doing almost nobody does right the second trick is you really have to understand where you’re going to get hurt because the fees the fees are just destroyed people 96 of all mutual funds never match the market i mean they never beat the market so i was just on a morning show this morning and and michael bloomberg’s uh one of his guys that has some of his money so i’m you know this is the only industry i know of where people think they could be a doctor they think they could be a financial planner and i said to him i said well look the statistics warren buffett taught me this he said ray dalio told me this david swenson who took yale from 1 billion to 24 billion in two decades these are people telling me nobody beats the market except a couple unicorns that nobody has access to and they said here’s the truth 96 of mutual funds don’t match the market that means four percent succeed now what are your chances of picking the right mutual fund people don’t know what they’re doing they put their money in a 401k they pick a mutual fund not knowing what it is if you play blackjack and you and i play and you get two face cards and your inner idiot says hit me i wanna i wanna get one chance in a million whether you’re an ace you have an eight percent chance of winning right if you try to get a mutual fund you got the four percent chance of winning so what i show people is not only do you not get the result thinking logically if i hire someone else to do it they’ll do better than me but in addition you pay around two thousand percent more than it’s worth meaning you get the same exact product the same stocks if you own the index right you want a piece of all america’s best companies say the vanguard 500 index 500 top companies that cost point one seven percent like less than two tenths of a percent versus the average mutual fund is three point one seven but first just hear that so you understand it’s like if you the average car sold in america is a honda civic it’s twenty thousand dollars you get the honda civic for 20 000 or you can pay 350 000 that’s the difference between 0.
17 and 317. but if you look at it over a period of like how do you 31 31 okay so let’s assume you and buddies at 35 to put aside 100 grand and you manage not to add any more money but to grow it at seven percent slight of ups and downs in the market and you’re 65 how much money do you have well if you paid one percent in fees over those 30 years 100 grand became 574 000 bucks not bad for never adding another dime right if you had three percent of fees have the same growth but three percent of these you now have three hundred oh and twenty four thousand half as much quarter million dollars seventy seven percent plus money and you had the same return it was just the fees so the world most people are asking what are your fees they have no clue right so i’ve created a site where people can go they can type it in you find exactly what your fees are and what you should be paying and it just it’s highway robbery where in the world would you pay two thousand dollar two thousand percent more for the same exact product you can only do it because the financial industry makes things so opaque so convoluted and people feel overwhelmed and hard to understand very understanding that’s why i try to come in here and go look time to become the chess player not the chess piece let me teach you so you understand what’s going on it’s not that complex they use all these big words yeah but when you know what’s going on you don’t get screwed and more importantly you take advantage of the system instead of letting the system take advantage see most people understand complexity as intelligence if they make themselves difficult they are supposed to be intelligent making a simple thing difficult is not intelligence making a very complex thing simple is intelligence isn’t it so wrong sense of intelligence idea of intelligence has entered people’s minds they think if they make a problem out of every solution they’re intelligent no no if you find solutions for every problem that is intelligence that’s my understanding and how do people start on this path because a lot of this makes sense to people but in the world they live in they don’t know where to start even yesterday i was uh at this how to academy talk the last question was all this is fine satguru can you give us one mantra that we can take home and that will work for us so i asked a simple question see to learn abc to learn to read and write a simple language like english i’m saying simple language just 26 alphabets tamil languages language has 212 alphabets very complex to learn a simple language you take 12 years of schooling to read write understand this all you’re doing in the school you may be reading a science book but you don’t know any damn signs by reading a high school textbook all right so for this you’re taking 12 years to transform your life you want to do it in two minutes so is that what your life is worth so if your life is worthwhile is it not important that you invest a certain amount of time and energy rather than looking for this stupid stuff of one mantra with which i will transform my life it will not happen like that that’s the reason why most people have remained the way they have remained because they have not invested in their well-being so it’s a serious long-term investment it is not long term i would say if i ask you is your life worthwhile enough to invest 30 to 32 hours of focused time to bring some basic transformation within you if i teach you a way where you can manage your chemistry the way you want but we need 32 hours of focused time do you think your life is valuable enough for that much investment i’m asking yes then you must invest that’s what is called an engineering program it’s 32 hours of focus time we can format it in different ways but that much investment has to go in you want a two minute mantra this is like this it once happened shankaran pillai had a serious uh spinal issue so you went to the doctor doctor took an x-ray and told him see you need a surgery and it costs you 50 000 rupees you can convert that into pounds if you wish and you need six weeks of bed rest sankaranpulai said don’t you know i’m a busy man i’m a television anchor [Laughter] i can’t take six weeks break nor do i have fifty thousand i’ll give you hundred rupees what can you do the doctor took the x-ray toyed with it for some time and said well i can fix the x-ray for you that piece comes from probably the most powerful metaphor of my entire life and that is the power plant doesn’t have energy it generates energy i’ve been teaching that for like 15 years on stage and one guy stands up one time and he goes actually you’re wrong and my event you know there’s 2 000 people in my venue goes well you’re actually wrong i’m like oh how am i wrong he says well a power plant doesn’t generate energy what it does is it takes energy from one source upgrades it so it transforms the energy then stores it and transmits it so it’s really transforming energy from one uh sort of location or one type of energy to another and i love that metaphor because i felt like that’s my job you know so much of my life is helping people reach another level of energy because if you don’t reach another level energy you can’t serve at another level if you don’t reach other level energy you can’t feel better be happier be a better spouse you know it’s like everyone says i want that next level but they don’t understand energy is the requirement to get there and when we measured energy in our studies it’s we’re talking about really mental energy emotional energy and physical energy and it was a huge turning point in my life when i started realizing these things because you know that whole thing that we as entrepreneurs we want to wait for maybe one day i’ll feel energized or maybe one day i’ll feel joy or maybe one day i can have fun after you know all the money’s in the bank and you know you got you got the house or the cars or the money or the you know the stuff and then people go um then i’m gonna be really a fun person it’s like no if you’re not a fun person when you’re broke you’re not going to be that much more fun when you’re rich and i think that people have to learn to bring the joy it’s one of our little tag lines on our shirt so i bring the joy and that says you know you don’t have joy just like i don’t think people have happiness i don’t think people have sadness either i think that we are generating the emotions and the feelings that we experience in life and soon as we own that responsibility life gets really fun first question you ask yourself to identify your end goal says what experiences do i want to have in life and this is where you start writing down your experiences and you know when i do this exercise i ask people to take out a piece of paper draw three columns so if you’re watching do that right now take out a piece of paper three columns top of the first column you’re going to write down experiences right and ask yourself what experiences do i want to have who do i want to wake up with what type of house do i want to live in what countries do i want to visit where do i want to travel to what adventures do i want to have whether it’s climbing mount kinabalu or hiking the andes what type of family life do i want what dog do i want the beautiful thing about experiences is often they don’t require that much money it’s crazy we associate money with happiness but often the most beautiful experiences in life require no money almost any human being today can fall in love can make a baby these are some of the most profound experiences i’ve had so the first thing is you make a list of your experiences now the second thing is you ask yourself this question for me to be the man or woman who has all of these experiences how do i have to grow and here we come to the second list see i believe we are souls having a human experience here on planet earth but these souls are not just here to explore all of these wonderful things about being human i believe as souls as human beings we create growth human beings are growth driven machines and so you make that second list and that second list is how do i want to grow how can i learn to be a better father a better spouse a better lover what languages do you want to learn do you want to learn a musical instrument do you want to learn to write do you want to learn to play a particular sport or learn a particular skill what many people don’t realize about the world is that growth is a goal in itself it’s one of the key things that drive us forward as human beings but very few people write down growth as goals it’s because the education system which tries to teach us to grow through forced learning makes many people dread learning so growth becomes that second list now you have two lists your experiences and your growth now you ask yourself the third question and the third question is this to be that man or woman who has all of these experiences to be that man of woman who has grown in such a way how can i give back to the world and it’s a very important reason for that question the dalai lama said if you want to be happy make other people happy and i believe that when you do these three most important questions that third category is what truly leads to fulfillment it’s when you can take your growth you can take your experiences and contribute to fellow souls contribute to the human race you’ve learned entrepreneurship great mentor someone mentor a kid who wants to get there you um you have the ability to um sing figure out how to use it to deliver you know beautiful music to inspire people so your list of contributions becomes your steps for you to give back to the world because that takes you beyond pure happiness into fulfillment now when you have this list experiences growth and contribution this becomes your goal list everything else is just a mean skull now when i started creating this i found that it allowed me to rewire my brain to shortcut and bypass so many bullshit rules to go straight to these final items to go straight to ways i could contribute ways i could grow ways i could have these beautiful experiences and often these were unconventional parts like when i started my company i didn’t work with any investors or vcs i decided to start my own university which is happening in barcelona but it all came because when you have done the three most important questions you get to short circuit the rules of the culture escape and figure out shorter parts towards true human fulfillment
