Mind Set in Stone Podcast

Money, Master the Game by Anthony Robbins

Big L Riz Season 4 Episode 4

What if the path to financial freedom wasn’t a secret—but a strategy?

In this power-packed episode of Mind Set in Stone, Dave and Poppy unpack Money: Master the Game by Tony Robbins—a 7-step blueprint to achieving financial independence, based on insights from the world’s most successful investors.

Robbins distils decades of financial wisdom into practical strategies anyone can use to secure their future—from compound growth and risk management to understanding how to make your money work for you. Dave and Poppy break down complex topics like asset allocation, tax efficiency, and mindset shifts in a way that’s easy to understand—and exciting to apply.

Whether you’re just starting out or looking to level up your wealth, this episode is your wake-up call to take control of your financial destiny.

Stop working for money. Start mastering it.

“Love what you heard? Grab the book through our affiliate link — no extra cost to you, and it helps us bring you more great episodes.”

https://amzn.to/45DGHVU

Keep your mind set in stone and your curiosity open. This is a Big L Riz Media Podcast — where big ideas meet lasting impressions.

Thank you for tuning in to this episode of Mind Set in Stone Podcasts. If you enjoyed our deep dive, be sure to subscribe and leave us a review! Share your thoughts with us on social media, and let us know which book you’d like us to explore next. Until next time, keep your mind set in stone and your curiosity open.

This has been a Big L Riz Media Podcast—where big ideas meet lasting impressions.

Welcome to Mind Set in Stone Podcasts, where we dive deep into the most compelling books on the shelf. Join hosts Dave and Poppy as they uncover the stories, themes and ideas that shape our understanding and inspire curiosity. Get ready to explore the big ideas that leave a lasting impact.

 

Let's get started.

 

All right.

 

Let's get ready to unlock some serious financial wisdom, shall we? Today, we're diving deep, and I mean deep, into Tony Robbins' Money, Master the Game.

 

Oh, an excellent choice, I must say.

 

It's all about reaching that financial freedom we all dream of. And you know what makes this book extra special? He sat down with some of the biggest names in finance, Warren Buffett, Ray Dalio.

 

The list goes on.

 

Not just some generic advice. This is like straight from the horse's mouth.

 

Absolutely. And it's not just what to do, but why. Right.

 

That's what really grabbed me. Robbins lays it all out in a way that anyone can understand. He doesn't shy away from busting some major money myths either.

 

Like you've heard the saying, work hard and you'll get rich.

 

Yeah. Classic advice. But is it really that simple?

 

Well, Robbins puts that to the test. He tells the story of Kurt Schilling, the baseball star. Earned millions, but then boom, lost a huge chunk in a bad business venture.

 

It really drives home the point that earning power, it doesn't automatically equal financial security.

 

Ouch. That's got to sting. Really makes you think twice about what true financial freedom means.

 

Doesn't it? And it highlights how crucial it is to be smart with your money, no matter how much you make.

 

Being smart. Yeah, that's key. So, what else does Robbins debunk in this book?

 

Well, he tackles the idea of average returns. We see them all the time in investment ads, but they can be incredibly misleading.

 

All right, hold on. Average returns. What's the catch there?

 

Think of it like this. Say an investment plum is 50% one year, then skyrockets 100% the next. The average return looks fantastic on paper, but you're actually still down.

 

Oh, wow. The numbers don't tell the whole story there.

 

Not even close.

 

Yeah.

 

It's a classic example of why we really need to grasp the true nature of investment risk

 

Totally. Risk can be so deceiving.

 

Absolutely. Then there are those hidden fees lurking everywhere, especially mutual funds and 401Ks. Robbins really opens your eyes to how these seemingly small fees over time can really drain your savings.

 

He even gives us some hard-hitting numbers. He says the average worker could lose over $150,000 to 401K fees over their lifetime.

 

$150,000? Wow. That's a serious chunk of change.

 

It is. Makes you realize how important it is to scrutinize those fine print details.

 

Really does. You can't just glance over that stuff.

 

Nope. And that's why Robbins is such a huge advocate for becoming an informed investor. Know what you're paying for?

 

Seek out low-cost options whenever possible.

 

Makes sense. Now, it's not all doom and gloom with Robbins, right? He's got some pretty inspiring examples of everyday people hitting it big financially.

 

Like, what about that story of Theodore Johnson, the UPS driver?

 

Oh, that's a classic. It's a perfect illustration of the power of compounding. That guy consistently invested a portion of his income, and bam, he ended up a multimillionaire.

 

That's incredible. A UPS driver turned multimillionaire really shows you don't need a massive salary to build wealth.

 

Right. Slow and steady wins the race, just like the tortoise in the hare.

 

Love that analogy.

 

Robbins actually recommends starting with at least 10 percent of your income, and then bumping that savings rate up with each raise, calls it building your freedom fund, even suggest pre-writing a letter to your employer to automate those increases.

 

So, you're taking the emotion and the decision-making out of it. I like that. It's like setting it and forgetting it, right?

 

Exactly. You know what else is cool? He's got this plan called Save More Tomorrow.

 

Designed to help you boost your savings rate without feeling the pinch.

 

Panelist saving. Okay, I'm intrigued. How does that work?

 

It's all about committing a chunk of your future raises to your freedom fund. So, you get a 5% raise. Instead of spending it all, you put 2% into savings.

 

You still get a 3% bump in take-home pay.

 

Oh, I see. So, you're building wealth without actually feeling like you're losing anything?

 

Exactly. A win-win. You know, Robbins even encourages us to think outside the box when it comes to saving.

 

He advocates for relocating to areas with a lower cost of living.

 

Wait, is he suggesting everyone pack up and move? That seems a bit extreme.

 

Not necessarily everyone, but he highlights how it can be a game changer financially. Robbins himself moved from California to Florida, said it not only cut his taxes, but actually improved his quality of life in ways he hadn't anticipated.

 

So, it's not just about saving money, but potentially living better too. That's an interesting perspective.

 

Right. It's about finding what truly aligns with your values, not just crunching numbers.

 

It's all connected, isn't it?

 

Absolutely. Creating a life, you love while securing your financial future.

 

Okay. So, we've covered saving, but what about investing that money? That's where things can get a little intimidating for a lot of people.

 

Right. That's where asset allocation comes in. Robbins says it's the most crucial investment decision you'll ever make.

 

So, let's break this down. What exactly is asset allocation? Why is it so important?

 

Simply put, it's about spreading your investments across different buckets like stocks, bonds, real estate. Think of it like diversifying your diet. You wouldn't eat only one type of food.

 

Yeah.

 

Okay. Yeah, that makes sense. So instead of putting all your eggs in one basket, you're spreading the risk.

 

Exactly. Robbins suggests dividing your money into three buckets. Security, risk growth and dream.

 

All right. I'm hooked. Let's dive into these buckets.

 

What goes in each one and how do they work together to reach that financial freedom?

 

Well, the security bucket, that's all about peace of mind. It's for your essential needs, the money you absolutely can't afford to lose.

 

Okay. So, this is like the foundation, the bedrock of your financial plan.

 

Exactly. Think cash, short-term bonds, maybe even a little gold.

 

Gotcha. So, it's about stability and protection.

 

Right. And then you've got the risk growth bucket. This is where you aim for higher returns, but you know there's more potential for ups and downs.

 

So, this is for the money you're okay with letting ride a bit, but hoping for bigger gains over time.

 

Yeah, exactly. This is where you might have stocks, real estate, even some more aggressive bond funds.

 

Makes sense.

 

And this is where it gets really interesting. Within that risk growth bucket, Robbins really emphasizes diversifying even further.

 

Oh, so it's not just stocks versus bonds. There are nuances within each category.

 

You got it. He dives into specific asset classes and explains why they act differently in various market conditions.

 

Fascinating. So, it's about understanding the subtle differences within those broader categories.

 

Right. And he even showcases Ray Dalio's all seasons portfolio, which is designed to weather any economic storm.

 

Oh, I've heard of that. Isn't it supposed to be like super resilient?

 

It is. It's a mix of assets that react differently to inflation, deflation, booms, busts, the whole shebang. Dalio's whole philosophy is that with this mix, you can potentially achieve consistent returns no matter what the market throws at you.

 

So, it's like having a financial all-weather jacket prepared for anything.

 

Exactly. Rain or shine, you're covered. And then we come to the dream bucket.

 

Now, this is where it gets fun. This is where you put money aside for those big audacious goals, that dream vacation, starting a business, maybe even early retirement. It's about putting a plan in place.

 

Robbins suggests investing this money in assets that align with your dreams timeframe. So, if it's a long-term goal like buying a vacation home in 10 years, you might invest in real estate or growth stocks. If it's shorter term, you might choose more conservative investments.

 

I see.

 

So, the green bucket isn't just about saving, it's about strategically investing those savings to make your dreams a reality.

 

Exactly. But remember, the exact allocation for each bucket, it really depends on your individual situation, your risk tolerance and your financial goals.

 

So, one size doesn't fit all when it comes to these buckets.

 

Not at all. It's all about tailoring it to your specific needs and aspirations.

 

Now, we've talked about saving and investing, but what about actually generating income? Especially for those nearing retirement, that fear of outliving their savings can be a real concern.

 

Absolutely. And Robbins addressed that head on. He introduces the concept of annuities, which can provide a guaranteed income stream for life.

 

Annuities, yeah, this can be a bit tricky, can't they? I've heard they sometimes have high fees and can be complicated.

 

That's true. Some can be. But Robbins specifically highlights fixed indexed annuities or FIAs.

 

They offer the potential for growth without the risk of losing your principal if the market takes a dip.

 

So, it's like a safety net with potential upside. That sounds pretty appealing.

 

Yeah, it kind of combines the best of both worlds. And then for those with a higher net worth, he even touches on private placement life insurance or PPLI.

 

PPLI, that sounds a bit like something out of a Wall Street movie. Is that something the average person needs to worry about?

 

Probably not. It's a sophisticated strategy usually used by ultra-wealthy individuals and corporations. More for tax efficient investing and legacy planning.

 

But it's still interesting to see how the other half manages their money.

 

It is always fascinating to peek behind the curtain.

 

Right. But the main takeaway is there are many different tools and strategies out there. It's all about finding what works best for your individual situation.

 

Finding the right fit for you. I like that.

 

Now, beyond the technical stuff, Robbins really emphasizes the human element of money. Our mindset, emotions, beliefs, they all play a huge role in our financial success.

 

Oh, so it's not just about the numbers, it's about psychology too.

 

Big time. He digs deep into the power of stories and how they shape our behavior. He shares his own story, for example, about associating money with pain and scarcity from his childhood.

 

Interesting. So, he's had his own struggles with money mindset.

 

He did. It wasn't until he reframed those beliefs that he was able to achieve financial abundance.

 

That's a powerful reminder that we need to challenge those limiting stories we tell ourselves about money.

 

It's about identifying them, questioning their validity, and consciously choosing to replace them with empowering beliefs.

 

So instead of saying, I'll never be rich, it's about saying, I'm capable of creating financial abundance.

 

Exactly. It's about shifting from scarcity to possibility. And that shift can be a game changer when it comes to achieving our financial goals.

 

So, it's all about mindset.

 

Mindset is huge. But then at some point, we got to take action.

 

Right.

 

Yeah.

 

You can't just think your way to wealth. You got to do something.

 

Exactly. Robbins is a big believer in taking massive action, setting clear goals, developing a solid plan, and taking consistent steps toward achieving them.

 

So, dreaming about financial freedom isn't enough. We need to put in the work.

 

Right. Knowledge without action is meaningless. It's about bridging that gap between what we know and what we do.

 

And he talks about finding mentors, too, right? People who have already achieved the level of success we desire.

 

Yes. He calls it modeling success. By studying the strategies and mindsets of successful individuals, we can fast track our own progress.

 

Robbins himself learned from mentors like Jim Rahn, and he picked up wisdom from billionaires like Warren Buffett and Ray Dalio.

 

So, it's like having a blueprint to follow, learning from those who have walked the path before you.

 

Exactly. And a big part of taking action is focusing on the things we can control. One area where we have a lot of control is reducing fees and taxes.

 

Oh yeah, those can be silent wealth killers. What are some strategies Robbins suggests for minimizing those costs?

 

Well, he's a huge fan of index funds, which have way lower fees than actively managed mutual funds. And when it comes to taxes, he highlights the benefits of Roth IRAs and Roth 401Ks, which allow for tax-free growth and withdrawals in retirement.

 

So, it's not just about earning more, it's about keeping more of what you earn.

 

You got it. He even talks about tax loss harvesting, which is a strategy for offsetting capital gains by selling losing investments.

 

Oh wow, that's interesting.

 

It can be a really powerful way to reduce your tax bill.

 

I'll have to look into that.

 

Definitely worth exploring. And finding a right financial advisor can also make a huge difference. Robbins stresses the importance of working with a fiduciary advisor, someone who's legally obligated to put your interests first.

 

Yeah, that's crucial. It's all about trust and transparency. But how do you actually find a good fiduciary advisor?

 

It can feel like a daunting task.

 

Robbins recommends asking potential advisors specific questions to gauge their experience, qualifications, and fee structure. He also suggests interviewing multiple advisors before making a decision.

 

So, it's like dating, but for your finances. You need to find someone you click with, who you trust, and who understands your goals.

 

Exactly. And it's about having an open dialogue with your advisor, making sure you're comfortable with their recommendations and that they're truly working in your best interest.

 

So, it's a partnership, a collaborative effort.

 

Absolutely. Now once you've got that advisor in place, it's important to understand the different investment options available, right?

 

There's a whole world of investments out there. It can be overwhelming.

 

It can be. Robbins provides a comprehensive overview of various asset classes, including stocks, bonds, real estate, and even commodities. He explains the principles of diversification and why it's crucial to spread your investments across different categories to manage risk.

 

Right. So, we're back to that diversification concept again. It seems like a recurring theme in Robbins' approach.

 

It is. It's fundamental to his investment philosophy.

 

Okay. So, we've covered the importance of diversification, but what about specific investment strategies? Does Robbins offer any guidance on that front?

 

He does. He dives into a few, like value investing, growth investing, and income investing. He explains the philosophy behind each approach and who it might be suitable for.

 

So, he's not prescribing a one-size-fits-all approach. It's about finding the right investment strategy that aligns with your risk tolerance, time horizon, and financial goals.

 

You got it. And he emphasizes having a long-term perspective when it comes to investing. Avoiding the temptation to chase short-term market fluctuations is key.

 

Easier said than done, especially when you see the market jumping around every day.

 

I know. It can be tough. But Robbins reminds us that the market is[…]

 

There will be ups and downs. But over time, history has shown that the market tends to go up. So, patience and discipline are crucial for riding out those inevitable storms.

 

So, it's a marathon, not a sprint.

 

He even suggests viewing market downturns as opportunities.

 

Really opportunities? How so?

 

He encourages us to see them as chances to buy undervalued assets, rather than panicking and selling at a loss. It's a contrarian approach that can be very rewarding if you have the stomach for it.

 

It takes a lot of courage and conviction to go against the crowd like that.

 

It does, but it's a key mindset shift that can separate successful investors from the rest.

 

Now, all this talk about investing is great, but what about the basics? Things like building good credit, managing debt wisely, and living within our means.

 

Oh, those are essential. They're the foundation of financial wellbeing. Robbins emphasizes tracking expenses, creating a budget, and identifying areas where you can cut back.

 

So, it's about getting a clear picture of your financial inflows and outflows, and making sure you're not spending more than you earn.

 

Exactly. And he stresses having an emergency fund, aiming for three to six months of living expenses in an easily accessible account.

 

That emergency fund can be a lifesaver when unexpected expenses pop up. It's like having a financial safety net.

 

Absolutely. He also encourages developing healthy financial habits, like paying bills on time and avoiding unnecessary debt.

 

So, it's not just about those big investment decisions. It's about those everyday habits that can really make or break your financial success.

 

You're absolutely right. Those small habits can add up to big results over time.

 

Now, all this financial talk can feel a bit overwhelming at times. It's like there's so much to learn and so much to do.

 

I hear you. It could be a lot to digest. But Robbins encourages us to view our finances as a tool for creating the life we desire, rather than a source of stress or anxiety.

 

It's not about becoming slaves to our money; it's about mastering it so we can live a more fulfilling life.

 

Exactly. He suggests aligning our spending with our values and priorities, focusing on experiences and relationships rather than material possessions.

 

It's a good reminder that true wealth is about more than just money. It's about living a life that's rich in meaning, purpose, and joy.

 

Well said. Now even with the best intentions, sometimes our emotions can get in the way of making sound financial decisions. Robbins doesn't shy away from the psychological aspects of money.

 

Yeah, we need to be aware of how our emotions, like fear and greed, can influence our choices.

 

Absolutely. He talks about cognitive biases, those mental shortcuts that can lead us to make irrational decisions, especially when it comes to money.

 

So, we need to be aware of these biases and develop strategies for overcoming them. What are some of the specific biases Robbins mentions?

 

One common one is confirmation bias, where we tend to seek out information that confirms our existing beliefs, even if it's not accurate. Another is loss aversion, where the pain of losing money is felt more strongly than the pleasure of gaining the same amount.

 

It's fascinating how our brains can sometimes work against us, even when we're trying to make rational decisions.

 

It's true. So, it's about recognizing these biases and developing strategies to mitigate their influence.

 

So, what can we do to combat these biases? Does Robbins offer any practical tips?

 

He does. One suggestion is to seek out diverse perspectives and challenge our own assumptions. Another is to pause before making any big financial decisions, giving ourselves time to think things through rationally.

 

It's about taking a step back and not letting our emotions run the show.

 

Exactly. And he also emphasizes having a positive money mindset, believing in our ability to achieve financial success.

 

So instead of saying, I'm bad with money, it's about saying, I'm capable of mastering my finances.

 

You got it. It's about shifting our self-talk from negative to positive, from self-doubt to self-belief.

 

It's amazing how much our language and our thoughts can influence our actions.

 

It really is. Now, Robbins doesn't just talk about personal financial success, he also emphasizes giving back.

 

Oh, that's important. It's not just about accumulating wealth, it's about using that wealth to make a difference.

 

Exactly. He believes that true wealth encompasses not just financial abundance, but also a sense of purpose and making a positive impact on the world.

 

So, it's about aligning our financial goals with our values and using our resources to make a positive contribution.

 

Right. He talks about conscious capitalism, which involves aligning business practices with social responsibility.

 

He's a big advocate for philanthropy, right?

 

He is. He shares inspiring stories of individuals who have used their wealth to support causes they believe in.

 

It's heart-warming to see people using their resources to make the world a better place.

 

It is. And he even suggests that giving back can enhance our own lives, bringing a sense of fulfillment and joy that goes beyond material possessions.

 

That's a beautiful concept. It's about creating a virtuous cycle where our financial success enables us to make a positive impact, which in turn enriches our own lives.

 

Now, throughout the book, Robbins emphasizes financial education and empowers us with the knowledge and skills to manage our money effectively.

 

So, it's not about relying on others to make financial decisions for us. It's about becoming financially literate ourselves.

 

Exactly. He encourages us to read books, attend seminars and seek out resources that can expand our financial knowledge. He even suggests surrounding ourselves with knowledgeable individuals who can provide guidance and support.

 

It's like building a financial dream team, having mentors, advisors, and even friends who are committed to financial growth.

 

And he reminds us that financial education is an ongoing process. There's always more to learn, and the more we know, the more confident and empowered we'll feel in managing our money.

 

It's a journey of continuous learning and growth.

 

Absolutely. He also talks about financial freedom, which he defines as having enough passive income to cover your expenses without having to work.

 

Ah, the ultimate goal for many people, achieving that financial independence.

 

Right. And he discusses various strategies for achieving this, like investing in income-producing assets, building a business that generates passive income, and creating multiple streams of revenue.

 

So, it's about creating a financial ecosystem that works for you even when you're not actively working.

 

Exactly. And he stresses setting clear financial goals and developing a plan to reach them.

 

So, it's not just about dreaming of financial freedom, it's about having a roadmap to get there.

 

He encourages us to envision our ideal lifestyle and work backward from there, identifying the financial resources and strategies needed to make it a reality.

 

It's like having a financial GPS guiding us toward our destination.

 

And he reminds us that financial freedom is a journey, not a destination. It's about enjoying the process of building our financial future and celebrating the milestones along the way.

 

That's such an important point. It's not just about the end goal, it's about the growth and learning that happen along the way.

 

Now, Robbins also delves into lifestyle design, which involves consciously crafting a life that aligns with our values and priorities.

 

So, it's about taking control of our time, our energy and our resources to create a life that truly reflects who we are and what we want to achieve.

 

Exactly. He encourages us to identify our passions, interests and goals, and to design a lifestyle that supports them. It might involve exploring different ways to generate income, such as starting a business, pursuing a side hustle, or investing in passive income streams.

 

So, it's about having the freedom to choose how we spend our time and energy, rather than feeling trapped in a job or lifestyle that doesn't align with our values.

 

Exactly. And it's about prioritizing experiences, relationships and personal growth over material possessions. It's about creating a life that's rich in meaning and purpose, rather than just chasing after the next shiny object.

 

That's a powerful message. It's about shifting our focus from accumulating things to creating experiences and building relationships that truly matter.

 

Now Robbins also acknowledges that we don't have to go through this financial journey alone. He highlights having a strong support system.

 

So, it's about surrounding ourselves with knowledgeable and supportive individuals who can provide guidance, accountability and encouragement.

 

Exactly. He suggests seeking out mentors, coaches and financial advisors who can help us navigate the complexities of the financial world and achieve our goals.

 

It's about building a financial dream team, having people we trust to guide and support us along the way.

 

And he reminds us that there are resources and individuals available to help us every step of the way. It's about reaching out and asking for help when we need it.

 

That's such a powerful message. It's about recognizing that we don't have to figure everything out on our own.

 

Now throughout the book, Robbins reinforces this key message. You are the master of your financial destiny. It's about taking control of your money, making informed decisions, and embracing a growth mindset.

 

It's about shifting from feeling like a victim of our circumstances to becoming empowered creators of our financial future.

 

And a big part of that empowerment comes from adopting a mindset of abundance.

 

So instead of focusing on what we lack, it's about appreciating what we have and believing in our ability to create even more.

 

Exactly. He suggests focusing on what we can control, such as our spending habits, saving patterns and investment choices, rather than worrying about factors outside of our control.

 

It's about taking responsibility for our financial well-being and not letting external factors dictate our financial outcomes.

 

And he reminds us that our thoughts and beliefs shape our reality. So, it's essential to cultivate a positive money mindset.

 

So, if we believe we're capable of creating financial abundance, we're more likely to make choices that support that belief.

 

Exactly. It's about aligning our thoughts, beliefs and actions to create the financial future we desire.

 

Now, all this talk about mindset and beliefs is great, but at some point, we need to take action, right?

 

Absolutely. Robbins is a big believer in taking action, even if it's just small steps at first. He reminds us that progress, not perfection, is the key to success.

 

So, it's about breaking down those big, audacious goals into smaller, more manageable steps and celebrating our achievements along the way.

 

Exactly. And he stresses consistency and persistence in our pursuit of financial well-being.

 

It's about developing those positive financial habits and sticking with them, even when things get challenging.

 

He also encourages us to embrace a mindset of continuous learning when it comes to our finances.

 

So, it's about staying curious, asking questions, and seeking out new information and strategies to enhance our financial literacy.

 

Exactly. He encourages us to experiment with different approaches and to adapt our strategies as needed. He reminds us that financial education is an ongoing process and that there's always more to learn.

 

That's so true. The world of finance is constantly evolving and we need to be willing to adapt and grow with it.

 

He also encourages us to view challenges as opportunities for growth and to embrace a mindset of resilience and resourcefulness when it comes to our finances.

 

So instead of getting discouraged by setbacks, it's about viewing them as learning experiences that can make us stronger and more capable.

 

Exactly. And Robbins reminds us that financial success is not just about the numbers, it's also about the positive impact we can create in our own lives and in the lives of others.

 

It's about aligning our financial goals with our values, finding fulfillment beyond material possessions, and using our resources to make a positive difference in the world.

 

Now as we wrap up this deep dive into Money, Master the Game, let's distill some key takeaways that you can apply to your own financial journey.

 

This has been an incredible journey through Robbins' insights, and I feel like I've gained a whole new perspective on financial mastery. So, what are some of those key takeaways that really stand out?

 

Well, first and foremost, start saving early and consistently. I mean, the magic of compounding is real, and even small amounts, you know, they can grow significantly over time.

 

Yeah, that tortoise in the hair thing really stuck with me. Slow and steady wins the race when it comes to building wealth.

 

Exactly. And don't be afraid to get guidance from trusted sources. Find yourself a fiduciary advisor who puts your interests first.

 

Right, someone you can trust.

 

Absolutely. And stay informed. Read reputable financial publications, things like that.

 

So, it's about building that financial dream team, right? Having experts in your corner to guide and support you.

 

Yeah, you got it. And just as important as the technical stuff, you know, is cultivating a really empowering money mindset.

 

Okay. Yeah, we talked a lot about that.

 

You got to challenge those limiting beliefs that might be holding you back and embrace the possibility of creating real financial abundance.

 

I love how Robbins emphasizes the power of stories. We need to rewrite those negative money scripts we've been telling ourselves as narratives that hold us back.

 

For sure. We all have them. And once you have that positive mindset, take action, break down those big goals into smaller steps, celebrate your progress.

 

And remember, consistency is key.

 

It's about turning those dreams into actionable plans and putting in the work one step at a time. You know, just like we were talking about with Theodore Johnson, the UPS driver, slow and steady wins the race.

 

Exactly. And don't forget about diversification. Spread your investments across different asset classes, you know, to manage risk and potentially enhance your returns.

 

Right. Like that all seasons portfolio we discussed, it's all about being prepared for any economic weather.

 

Exactly. And as you get closer to retirement, create a lifetime income plan. Explore things like annuities that can provide a guaranteed income stream, so you can relax and enjoy those golden years without constantly worrying about outliving your savings.

 

Security and peace of mind, right?

 

Absolutely. And perhaps most importantly, remember that financial success isn't just about the numbers. It's about aligning your money with your values, finding fulfillment beyond material possessions, and using your resources to make a positive impact on the world.

 

That's what truly resonated with me. Creating a life of meaning, purpose and joy, not just chasing wealth for the sake of it.

 

Robbins reminds us that we are the masters of our financial destiny. By taking control of our money, making informed decisions, and embracing a growth mindset, we can create a future filled with abundance, security, and fulfillment.

 

This deep dive has been incredibly insightful, and I feel like I've gained a whole new toolkit for achieving my financial goals.

 

As you move forward, remember, knowledge is power. The more you understand about money, the more control you have over your financial future.

 

And for those who want to go deeper into these ideas, be sure to pick up Tony Robbins' book Money, Master the Game. It's packed with wisdom and practical advice that can truly change your life. Until next time, keep diving deep and keep learning.

 

We hope you're leaving with fresh insights and a spark of inspiration. Remember to subscribe, leave a review, and check back for more episodes as we dive into new worlds of thought, one book at a time. Until then, keep your mind set in stone and your curiosity open.

 

This has been a Big L Riz Media Podcast, where big ideas meet lasting impressions.

 

 


People on this episode