Author Tony Robbins describes his troubled upbringing and explains why he is grateful for his childhood experiences and past suffering. Plus, he explains how compound interest can help you build financial stability for the future.
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00:00 So you watched Tony backstage, he's getting into the right state.
00:03 You know, I've been to the seminars.
00:04 It is remarkable.
00:06 We all see you as an incredibly successful man, but it didn't start that easy for you.
00:11 And I'd love if you don't mind, I know it's emotional, but share a little bit about how
00:15 your upbringing made you the man you are now.
00:17 Well, I had a really beautiful soul for a mom, but she was also addicted to alcohol
00:22 and prescription drugs.
00:24 And when she got in those states, she was quite violent.
00:26 I have a younger brother, younger sister, five and seven years younger.
00:29 And so I became a practical psychologist because I had to figure out how to know how to manage
00:34 her state emotionally and psychologically, because when she lost it, she would smash
00:38 my head against the wall till I bled or she'd pour liquid soap down my throat till I threw
00:41 up.
00:42 But honestly, I suffered so much.
00:44 That's why I'm here.
00:45 You know, if my mom had been the mother I'd hoped she'd be, then I wouldn't be the man
00:50 I'm proud to be because it made me hungry to find answers.
00:52 It made me hungry to, if I see anybody suffering, I got to do something.
00:56 And I don't have to at this stage, but it's still in my life.
01:00 It's in my blood.
01:01 And so I'm really grateful that it happened.
01:02 It sounds weird, but I am grateful because I think you got to find the higher meaning
01:06 in anything.
01:07 Otherwise, you just suffer.
01:08 And so I've done it with myself so I can help other people do it as well.
01:11 So Tony, as you know, has been in a leadership position feeding the hungry in America.
01:17 In fact, this book, which is one of the best books I've ever read, it's called Unshakable.
01:21 Thank you.
01:22 All the proceeds are going to feed the hungry, but there's a selfish reason that I think
01:25 people should learn about Unshakable because you talk to 50 of the world's leading financial
01:32 experts, the people who are actually out there making a ton of cash.
01:36 And I'd love if you don't mind, just to break it down for us, for example, what is the number
01:39 one piece of advice they gave you?
01:42 Well, the number one thing for the average person is they have to stop being a consumer
01:45 and become an owner.
01:46 You know, most of us work our life and we work so hard, but we're all trading time for
01:50 money and it's a terrible trade.
01:52 And so the mindset is to say, if you own an Apple phone and you don't own Apple, or more
01:56 importantly than Apple, let's say the index, then you're just wasting your time because
02:00 you're going to work your whole life and come to the end of your life and have what, Social
02:03 Security?
02:04 So what I was obsessed by is how do you help people understand that anyone can get financially
02:08 set if they understand compound interest?
02:10 Compound interest.
02:11 Yes.
02:12 And most people have heard of it, but they don't apply it.
02:14 All the experts say that's all it takes.
02:15 It takes a small amount of money.
02:17 So for example, there's a man named Theodore Johnson who worked for UPS in the 1950s.
02:22 He never made more than $14,000, but he retired with $70 million.
02:28 Now how is that possible?
02:29 Yeah, how is that possible?
02:30 Because compound interest.
02:31 A friend of him pulled him aside and said, "I'm going to make you a wealthy man."
02:33 He goes, "I'm not going to be wealthy."
02:34 He goes, "I'm going to put a 20% tax on you."
02:36 He goes, "I can't afford that.
02:38 I'm going to make $14,000 a year."
02:39 He said, "Listen, if the government raised your taxes 20%, you'd scream, you'd yell,
02:42 you'd bitch, and you'd pay it."
02:43 Right.
02:44 And you'd get used to it.
02:45 He said, "This is not going to the government.
02:46 It's going for you."
02:47 And it compounded.
02:48 So people at home can understand.
02:49 Let's assume you have a child who's 19 years old, 18 years old.
02:54 You convince them from the very beginning to put $300 aside each month out of their
02:57 money.
02:58 Once they automate it, they'll never know it's gone.
03:01 They do that.
03:02 If a young man does that from the time he's 18 to say 28, he does it for eight years,
03:06 27, eight years, it's 27, and he stops, he'll have put in less than $30,000.
03:12 But if he leaves it in the market, the market's grown at 10% over 30 years.
03:15 If you go 30 years later and he never put in more, then plus some $28,000 is the exact
03:22 number.
03:23 Now if his friend starts at 29 and does the same thing, but he invests all the way to
03:27 65 every month, he'll still end up with less money than his partner does.
03:31 So it's-
03:32 So a guy stays for eight years when he's young?
03:34 Yes.
03:35 He will still dwarf the amount of money someone-
03:36 Even though he never added another dime because he started sooner.
03:39 So the more time you have, the less money it takes.
03:42 The second person has $140,000 in it and he'll end up with less money than the first
03:46 person.
03:47 So compounding just simply means you want to get in the game and you want to put a certain
03:51 amount of money aside, automate it so you don't see it, put an investment account, and
03:55 then I show you what the best investors do with that money and what you can do.
03:58 But you got to start with that.
03:59 You got to become an owner.
04:00 A lot of the uncertainty today, and we've done surveys on this on the show, are about
04:03 money and they're about politics.
04:06 And they do work together.
04:07 You've worked with all the recent presidents, including the current president.
04:12 What do you have to say to folks who feel really insecure about what's going on right
04:16 now?
04:17 I think we tend to overreact.
04:20 I had a great conversation.
04:21 I was with President Clinton last weekend, who's been a friend for about 30 years, and
04:24 I saw George W. Bush some months ago.
04:27 And I asked him, George W., I said, "Are you worried?
04:29 What are you doing?"
04:30 I said, "First of all, I'm so ... I've always respected you because you never attacked President
04:33 Obama, even though you have a different approach."
04:35 He goes, "Tony, I'm no longer the president.
04:38 Even though I didn't vote for him, he's the American president, so he's my president.
04:41 I need to support him."
04:42 I thought, "That's really elegant.
04:43 That's how we've always been as a society."
04:46 But I asked him, I said, "Are you worried?"
04:47 He goes, "Well," he said, "All this worry," he said, "It's overblown."
04:51 He said, "When Nixon was impeached, I thought he destroyed America, destroyed the presidency,
04:57 destroyed our reputation.
04:58 I was wrong."
04:59 He said, "I became president.
05:00 You know what I discovered?
05:01 The office is bigger than the occupant.
05:04 There's three branches of government, and even if that person screws up, we're going
05:08 to still do extremely well.
05:09 We don't need to live in fear.
05:11 You make a big mistake if you bet against America for two centuries, and it's still
05:14 a big mistake if you do it today."
05:15 It still is.
05:16 Thank you for watching.
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