According to Tony Robbins, “You’re never going to earn your way to financial freedom.” Here he outlines his 5 golden rules for how you can master your money.
As America’s number one life coach and business strategist, Tony Robbins has been sharing insights and changing lives for more than 4 decades. His new book, Unshakable, is full of his typically stellar advice around mastering money.
Tony's 5 golden rules
- Be realistic
One of the greatest lessons I’ve learned from these money masters is that you don’t have to predict the future to win this game. You have to focus on what you can control, not what you can’t.
- Avoid the sharks
There are plenty of fantastic human beings working in the financial field, but they’re not necessarily looking after your best interests. Most people who you think are providing unbiased financial advice are actually brokers making hefty commissions by selling products.
- The power of patterns
When humans lived as hunter-gatherers, we had no power. We were at the mercy of nature. But gradually, we developed an invaluable skill: we learned to recognise and utilise patterns.
We observed the pattern of the seasons and learned to take advantage of them by planting crops at the right time. We also learned that we’re not rewarded when we do the right thing at the wrong time.
This capability moved us from scarcity to abundance. Our capacity for pattern recognition is also the number one skill that can empower us to achieve financial prosperity. Once you recognise the patterns in the financial markets, you can profit from them.
You’re never going to earn your way to financial freedom. The real route to riches is to set aside a portion of your money and invest it so that it compounds over many years.
That’s how you make money while you sleep. That’s how you make money your slave instead of being a slave to money.
- You are your greatest obstacle
The single biggest threat to financial wellbeing is your own brain. In every area of life, we have a tendency to be our own worst enemy. The problem is that our brains are wired to avoid pain and seek pleasure.
Instinctively, we yearn for whatever feels likely to be immediately rewarding. Needless to say, this isn’t always the best recipe for smart decision-making.