And well 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 Curt Schilling if
you remember from Boston Red Sox yeah
100 million dollars years broke bankrupt
as Warren Buffett I said what made you
the wealthiest man in the world he
smiled me said three things he said
living in America great opportunities
having two genes that lived a long time
and he said the last thing is compounded
interest we all know about compound
interest but I give an example a book of
the sky theater johnson what the UPS
never made more than 14,000 in income in
his entire life in a year and in all the
ages were 70 million dollars and how do
you do it all he did was he took a
percentage of his income this percentage
is twenty percent my his family said you
can't we can't save any money but you
had a friend who said if you pretend
there's a tox the tax just took the
money away from you and you never see if
the money comes out of your account does
an investment account you'll be
financially free so he was disciplined
he didn't look at it it happened seventy
million dollars by compounding so
people's mistake is and kids don't know
this adults don't notice that you won't
or any way there but you can compel your
way there and what I want to do is say
where do you put that money and that's a
trick right I secret though the first
trick is actually do it almost nobody
does right the second trick is you
really have to understand where you're
going to get hurt because the feeds the
fees are just destroyed people you a
little Catherine about the fees I was
like this is incredible is it a while
it's nuts I mean there's so much money
just on the feet well just so people
have an understanding ninety-six percent
of all mutual funds never match the
market you may never beat the market so
I was just on morning show this morning
and Michael Bloomberg's what if this
guy's to have 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 myself
up the statistics Warren Buffett taught
me this is that Ray Dalio told me this
David Swensen took yell from 1 billion
to 24 billion in two decades the people
tell me is correct nobody beats the
market except a couple unicorns that
nobody had access to and I said I didn't
say you're not one of them here's the
truth ninety-six percent of mutual funds
don't match the market that means four
percent succeed know what do you change
the pic in the
mutual fund people don't know what
they're doing they put their money in a
401k and take them you to buy not know
what it is if you play blackjack and you
and I play and you get to face cards and
your inner idiot says hit me then I want
to get one chance in a million percent
chance of winning right if you try to
get music when you got the four percent
chance of winning so when I show people
is not only do 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 2,000
percent more than it's worth meaning you
get the same exact product the same
stocks doing the index right you want a
piece of all-american house 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 3.17 system how common compound over
time but first just hear that seems like
and you can have a car so america the
honda civic $20,000 you get to hundreds
of it for 20,000 or you can pay 350,000
that's the difference between point one
seven and three one seven but if you
look at it over a period of like podium
3131 okay so let's assume you a couple
of buddies at 35 man has put aside 100
grand and you managed not to add any
more money but to grow at seven percent
spite of ups and downs in the market and
you're 65 how much money you have well
if you paid one percent of these over
those 30 years 100 grand became 574
thousand bucks not bad for never had
another dime right if you have three
percent of these have the same growth
but three percent of these you now have
300 0 & 1 24 thousand half as much
quarter-million-dollar $77 money and
anyway the same return which is the fees
so the world most people asking one of
your feeds they have no clue right so
I've created a site where people can go
i can type it in you find exactly what
your fees are and what you should be
doing and it just it's highway robbery
where in the world would you pay 2,000
2,000 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
overwhelming hard to understand either i
said that's why i turn is coming here
and go up time to become the chess
player chess piece let me teach you so
you understand what's going on it's not
that complex that he's only
big words yeah well you know what's
going on you don't get screwed and more
importantly you take advantage of the
system is they're letting the system
ticket manager yeah I like that now
you've coached some of the world's
greatest athletes former presidents
biggest CEOs who coaches you I've had a
lot of people asking me to ask you this
question Bank towards you who coaches
you today I have always looked for
people that were playing the game at a
different level than i am and or or knew
the road ahead hmm I always tell people
anticipation is power if you're playing
a video game against the child it's
pretty disastrous right maybe not for
you you live a different generation was
for me like you know it's not the kid is
faster and smarter if they played this
game eight million times so they know
the first shots here like I said right
there it's out there you're like
reacting so when you're reacting to
things you fail so my mentors have been
people over here different people my
earliest mentor was a man named Jim Rohn
yeah the personal about that speaker
just touched my life then I was involved
in neuro-linguistic programming NLP when
I was 21 22 23 years on the game
partners with a man named John greater
brilliant man coming out her that but in
my last couple decades has been people
like Peter goobers the LA Dodgers and
owns of you know the golden state
warriors NBA team and he just put he's
got 52 academy award nominations so he's
a mentor for me I Paul Tudor Jones I
comes but also I'm coached by him
because we're on get the pitch and catch
on and then you know end up some people
in my life that you know a steve irwin
is a dear friend of mine yeah most of my
ability is brilliant and these guys are
all 18 years my senior so they know the
road ahead and i'm able to learn from
them in advance and it kind of
anticipate things and that to me is
incredibly thought yeah very cool now i
want to ask you how you personally
handle a breakdown because you I've been
your your shop and incredible experience
thank you and you teach people how to
overcome their fears and how to handle
breakdowns but how do you personally
deal with it and you even have any
breakdowns yeah they sent me a list of
questions you have just kind of get
these met with one of the questions
those like
you know it's interesting it's
breakdowns certainly not sup my
experience it's not going to be so
talented or some brilliant or so
fearless it's just you're like an A for
you an athlete yeah you're in shape yeah
you're not going to have a reaction in
your body like somebody who doesn't take
care of themselves nine so you know I
believe now I don't believe in emotional
intelligence I think it's useful but i'm
laurin an emotional fitness mmm because
intelligence is a capability fitness is
the state of readiness interesting if
you were fit you can take that demand
right now you can deal with it you can
deal with that physical stress that
emotional stress simply stupid
psychological fitness emotional fitness
right so I'm pretty fit and part of that
is not cuz I'm so smart bargains I
taught this for decades that number had
a woman who came with my seminars and
early 80's probably and she would blend
in this room five ten thousand Peabody
was you know to it a couple of 10,000
per savants it's you getting his front
row fighter with you there and you jump
and go for it and one breaks came up and
I signing a book for it she says she
goes times I've seen you like eight of
these I've seen you like when you're
really i know i can hear your voice or
hurting or you haven't slept and she
goes always seem to be so up all the
time how can i go up and I several
partners i tend only somebody is i'm
teaching it so there's a fitness of that
there's also you know I buried three
fathers and in one mother and you know
that affects your life I've had a
physician look me in the eye and say you
have a tumor in your brain and so I've
had those moments that when you've had
extreme stress and you push your way
through it you build psychological
muscles like it takes a lot to knock me
up you know in the early days leaving
that $50,000 keep the doors open how do
we do it then I asked you know graduated
25 million if accentuated to a partner
that mine kind of didn't do things well
and I end up owning a hundred million
dollars because I to take on his debt
hundred million dollars and but when you
do all that stuff you know may companies
do five billion you know here so you
keep expanding what i would call really
the circle of your the threshold of your
influence sure everybody has a threshold
with control and if you get beyond if
you kind of freaked out so it takes a
little bit more adalah I get it only had
laid down another breakdown I'm gonna
get pissed off and if I straighter
tired yeah but break down honestly no so
how do you handle if you get tired or
something to sleep what I kid nada surf
every simple but you know when I've had
challenging times I mean have so many
tools yeah you know I happened to pull
them out it that good mostly stuff like
you as an athlete you know you don't
just physically break down let you take
care yourself so the constantly training
that I think most people don't train
their mind and emotions it's like I
think the most powerful muscles to me
are not difficult as strongest important
as they are it's like faith as a muscle
courage the muscle determinations of
muscle playfulness is a muscle you know
passion unexpressed weakens you know
faith untested gets smaller so I'm
always I called you practice I always
pushing myself to the edge and push
yourself the edge makes you stronger
yeah in the book I was really excited to
hear you talk about you say the secret
to wealth as gratitude someone that look
it says that I think maybe with someone
else you're referencing yes it came from
sir john templeton and every day I
practice gratitude when I wake up and
every night I always tried to say to my
girlfriend or someone I'm talking to
before let's sleep three things are most
grateful for right now why I was pleased
to see that else I come on the right
track from their own gravity but why is
that the secret to well well sir john
templeton is probably one of the
greatest investors in history people
don't know his name he start with
nothing he wasn't sure he goes in from
the country came from the US and he
decided that he wanted to understand
welcome so he saved $10,000 huge amount
money of those tags and when Hitler
invaded Poland he developed a belief
this belief was you make your money in
terms of maximum pessimism like if you
around in 2008-9 you have all the flight
right you could have bought you know the
sands in Las Vegas you get about their
stock for two dollars and twenty-eight
cents today at sixty seven dollars the
three thousand percent returns not bad
you could have bought citibank for less
than a buck mmm right so people and
those times he understood that and so
what he did was it everybody thought the
world was going to end he took ten
thousand dollars you bought every stock
on New York Stock Exchange there was a
dollar less including Cummings every
thought were going bankrupt but when
these are bad people think it's gonna be
bad forever when things are good to
think it's gonna be good
forever they're always wrong wife
cyclical so there's a season for
everything so once we got through World
War two when few years later guess what
those same stocks made him a billionaire
so after I said what's the secret to
wealth is responsibly test because you
know if you teach it I said what's that
is a gratitude that's why do you say
that it said because if you got a
billion dollars and every day you live
pissed off and frustrated the quality
your life is called pissed off and rusty
all the time but if you have nothing but
your you formally grateful for whatever
you have you richest person that you're
going to know even so doesn't matter
much money you got a feeling of
gratitude so I didn't save me by the way
I have a process i called priming where
i get up every morning i do by the
morning and it just flat achill change
to my body kind of alter my state and
then i do 10 minutes i never mess in my
first reenactments is laterally great
before and I make myself think of at
least one of those three that's
something really simplistic there's
something giant or the wind on my face
look at one of mine skip eyes you know
some of that nature and then I do three
minutes of strengthening yelling ly
three minutes of 1 i'm gonna create my
world i do that for a minimum of 10
minute every day because i believe you
have to condition you don't just hope
that stuff shows up you set your
intention each morning but i'm not every
day yeah rebel so what he most grateful
for recently in your life so many things
well thanks giving some one piece well
one is my daughter is 40 years old when
she flies out forever and just going to
bring the exam sunflowers kind of
congratulation thank you very much
that's cool off but also thanksgiving
stuff for me it's a very emotional time
because my family was fed one was 11 we
had no food at Thanksgiving it and
touched me so deeply and i decided i was
going to get back so knows 17 i said to
families and then four and then eight
then I didn't tell there's doing it and
then I got my friends to do it and my
company's grew and I've had 42 million
people now over 37 years and the
challenge is right hence why not what i
did is like cited you know write this
book and in the middle of writing it
last summer most people even notice
congress cut food stamps they'll call
from stamps anymore but I lived on it so
I know what they are food stamps are my
family family live on but I cut it by
eight point seven billion which means
you eliminate two million people from
the rolls over night and they still need
to eat so I support all these nonprofit
organizations and feeding America the
largest in the country and so I'm going
to call attention to sell
donated all the profits of this book in
advance how many people can I see
centrally beam to millions of my
foundation and I matches I'm four
million a year and they said you'd be 10
billion people like wow I mean and then
as the years gone by I've got more and
more inspired and so now I'm going to
feed 50 million people personally I'm
not just in the book i'm writing a
larger check on top of it but also i'm
working with heating America to get
matching funds we don't have a million
people incredible so to go from my
family not be able to eat 2cd hundred
million people is a pretty amazing sense
of gratitude in a sense of grace and
yeah I've done my part but there's been
grace of that as well it's amazing it's
incredible what you're doing and very
inspiring so thank you for a Cure doing
that already but your book you're
feeling prominence for you yeah but it
also feeds on average fifty families and
one hundred percent is being president
Conoley budget morning thats amazing now
i think i also read in the book I don't
know if you said this for someone else
or the key to the living is giving yes
now I think I might have heard you say
this actually back when I first saw you
when I'm 16 and I ran and I remember
thinking I don't have anything to give I
don't have any money you know how much
supposed to invest my money yeah ten
twenty percent of months and how can I
deal on top of that but I really
understood that you know it's so
valuable important to give and I work
with a lot of non problems myself other
schools for kids around the world
wonderful and I've seen a big impact in
my life and the way I'm able to serve
people sir john templeton told me that
he's never seen anyone tithe which is
our tidings usually ten percent of when
you heard for at least a decade he
didn't become incredibly financially
free mom I think the reason is I had a
moment like my whole life changer this
is kind of twofold i had i was i was
really gotten like yourself back then
Mike working my tail off trying to build
a business and yea big goals you know
you don't always succeed to start where
I come together right you know it was
hard and I remember I was so frustrated
because i was working 18-hour days and
nothing was working and I was broke and
I felt embarrassed you know I should be
doing better than this and so I was
driving home from Orange County on the
57 freeway and say give Ovalle out there
promoter California primary pres bag
remembered specifically because I've
almost midnight
and I was at this breaking point and
then I was like why am I not you know
I'm doing better and then I just pulled
over the road nice to keep these
journals i still have a written trills
and i wrote big lines you know the
secret to living is giving their
starting cry and i realized i am so
focused on what am I not getting famous
thing I know what I'm getting there so
for six months Maddie turn me around but
then you know something else to kick in
your body was in my had was in my heart
but at off in the ass day and I started
going through some really tough times
and I lost everything financial aid and
I was mad at everybody like I've
notified a thousand bucks you know I've
been doing well and he would come at
phone call oh and what changed me was i
I was down at out 22 23 bucks something
like that in those four dollars I'm not
doing knew that I needed money for food
to the next week and I didn't have any
prospects and a little bit Venice of
this point where of a bachelor apartment
films are to myself an i thought you
know what I got to eat so I'm going to
drive my car cuz I'm gonna spend the gas
I'm not gonna pay for parking sure I'm
gonna go to all you can eat place and
load up for the winter right so i can
get more by one meal a day and so
there's a place called marina del rey
not farm Menace has beautiful community
in and around the water there's a big
called El Torito it's still there so it
will restaurant and had taco bar and
archive stuff so I walked there for the
three miles and i go i could i'm going
to go ahead and load up and i was all
about myself and getting through this
and this little because women walk the
dragon very attractive way if i woke up
and i'm waiting to do her voice it is
and there's nobody up there there was a
little guy down here it was obvious or
sun i'm wearing this three-piece suit
you know a little fast he opens the door
for a pulls out the chair for her it was
just he stared to his mother's eyes I
mean it's just Kirsten derives I don't
know what was was something about him
was just so moving is such a sweet
caring loving young man to his mother
that moved me so I paid for my meal I
don't want left 17 18 bucks and put back
my pocket was left locked up this young
man it is myself I said hi don't
understand he says name's Ronnie and
it's Ronnie I said that so you really I
said your class after I saw you open the
door for your lady I saw you how about
the chair for your lady
it's even more glasses right Eddie and I
said so cool that you're taking out to
lunch like this he goes well not really
taking a lunch cuz I'm just 11 and don't
throw a job you know that I said yes you
are and I'd have no plan literally just
reach in my pocket to go many had
changed all the pickles and ice in front
of him you look at me like this you know
I can't take that I sneak in so why I
think of a bigger than you hahaha and he
does is big grid of this baby's eyes got
this big and I didn't I just shook his
hand I didn't look at this law his mom
and I just walked at the door but these
are telling a story is I had no car I no
money mmm i did not i was euphoric i
would like flying home I'm just like you
know I look like an idiot I was skipping
or sometimes I and what I thought was I
should have been like what the hell did
you just do it no meal when I waking
minute I went on the night away on a
plan and the plan was going to take me
you know 10 days to weeks so I thought
well people fast for a week I could pass
for a weekend at everything and has this
great mindset about it i woke up next
morning and i get the old regular snail
mail shows up and his guys called a
zillion times they wouldn't return my
call it open up there's a chat thousand
x plus interest in an apology wow I'm
sitting there and I started cry honestly
that was just like why did this happen
you know and I thought it was true but I
decided that day this happened I did the
right thing mmm because I didn't have a
plan it wasn't a strategy I stop this
little slow beside me I knew it was
right and I did it and I didn't do it
because I thought I could or couldn't I
didn't even think about it and that's
the day became a wealthy man because I
put any money but scarcity left my body
and I have plenty of ups and downs since
that time various times in my life but I
never went back to that oh my god you
know how's it going out yeah it's like
breathing do you stop and say that is
there going to be in the air before you
take a breath you know it's going to be
there right you don't you don't run your
life by that aspect and so that to me is
what it's about is showing people if you
won't give a dime out of a dollar don't
bullshit yourself you'll never give a
million out of 10 million million have
100 million they're just they're going
to happen that but if you can do that
now you you don't ever get me on
scarcity start behind it you make a
decision to get down to so how does
someone you know when they're living in
scarcity living in fear yeah and it's
like this emotional feeling it's on your
body like I say when you're like I can't
even pay for my meal how am I going
are giving one of some things that
people can do to start overcoming that
mindset or start strengthening it or
shipping it I played i'll tell you what
i do when i was first on my own here I
got my dad my mom kicked my dad out when
I was 17 she's very powerful when I feel
her father so they all learned how to
get the boot she does in his side so she
kicked me out next I was 17 chased me
out with a knife she wouldn't hurt me
but I wasn't going back in the room bow
and I said I forgot what to do and I'd
if I stay and thinking somebody's
laundry room for a while and I started
reading a few min mine and then I get
off the full system and its systems
really simple I tell people as I say
number one every single day you've got
to feed and strengthen your mind until
you do that you're always going to be up
there because yours on the batter human
brain is designed for survival not
designed for success your brain is not
designed to make you happy that's your
job right then we're going to do it is
if you feed your mind good otherwise
we'd go automatically right drinking my
coach you meant your gym where are these
Tommy's or Tony every day you got to
stand guard at the door of your mind you
gotta watch what's going in you're not
careful stuff away bees in all times if
somebody who cares about you said you
know if your your family if your worst
enemy and put sugar in your coffee is it
won't happen yes we call because where's
your best friend by accident or your
family don't mean to they drop one drop
of strict on your coffee you're dead
he's so like sugar and strychnine and
watch a coffee sure that IRA so every
day I decided I'm old enough honestly
there was no internet that space and for
the ancient I used to go to library
because in the Old Mission Hill and I
would see I read biographies I mean
bleep applies though to make me go wait
a second as bad as I think it is the
greatest people were all had it worse so
there's something here so you feed your
mind i'm jim rohn you say to me skip a
meal the don't skip Brady said reading
30 minutes a day I don't give a damn
what it is today I don't mean internet
crap I mean read something about if you
read something that's a strategy we took
it's going to change your life then the
second thing I tell people is feeding
your minds great you've got also
strengthen your body you do that as an
athlete actually I learn to do that
because fear is physical right you know
we feel it and if you go work out if you
go lift and you go run you know if
you're out of shape you just go content
walk that experience alone changes right
every in my life the first thing I do
provide you my
timing if I know one of my homes I jump
in some hot water for fun and I jump in
freezing water I have you know a Rimmer
and one of my homes in sun valley and
I've got a cold plunge is everywhere
else I going 57 to get a lot of hello
and what it does is like it's teaching
my brain i do i tell my brain what to do
in it does it it doesn't feel like
you're the one to do it and every sell
your body for live right so it doesn't
have to be like two hours with the
funding it can be something to do for 30
seconds for its training your body to be
strong because the strong body could
strong mind and vice versa that the
third thing I tell people is find a role
model you know it seems impossible till
you see somebody's done it so totally
values for the grace of estrogen history
the guy was a caddy right you know his
dad was the jazz musicians mom was a
homemaker he's worth 14 billion dollars
he had I'll be hitting on someone to
mentor him he found for he found
multiple people provide a model right
you don't always play the victim but you
find somebody you can model and we start
seeing that somebody else can do it and
you see they really good you start to
believe you start to get surgery and
then a fourth thing I come people's
massive action and constantly change
your potion but it's fine somebody worse
off that you are and help them and when
you do that it gets you out of yourself
yeah that's what I really have people do
that's what you're thinking about
saturday we're two million people get
that amazing not know what I do the one
that I get people to do and it's amazing
people go in there they see my god I
thought my life is tough look at this
person's life and makes you appreciate
of it but I prospectus yeah very cool
now talking about feeding the minds if
you could only get three books behind
yellow your lie who realize my new year
your kids yes and or the men you know
the message to your the world of like
here's the three most important books
that you should read that's got one of
the three books that also puts a trip
okay your victory look that's a tough
one I don't know if I could do that but
I'll tell 3 i've got my hat I'd say
man's search for meaning aha Viktor
Frankl because all of us in our lives
are experienced extreme stress I don't
how much money now but I'm coming to the
lava respect to you you'll have your
time it might be a health issue in your
family it might be something happens to
the economy is something happens all of
us and so to see how people that were
put in the most insane unjust
environment people that were in
Auschwitz how they dealt with that
leavin situation and have the ones that
thrived in spite of it and to go through
Victor Frankel's way of understanding
how great meaning in your life I don't
think there's a more important book I
think maybe another one might be as a
man thinking because it's a book the
green dozens of times in your life it's
small and it's the core of everything as
you think so you are I mean obviously
the Bible is an extraordinary book or
whatever religious document a person
plays I'm personally Christian but I
tell people whatever you believe you
need practice it whatever it is because
there are many different ways of
connecting you know to to what has
created us and then that's three already
by give you one more I think another one
that's important with being
understanding the life cycles of
humanity there's a book called
generations is a big book I think a
thousand things later pages big events
but I'm not but it's a book with me
because it shows you how as every
hundred years eighteen hundred years we
went to the same cycles like what we
just gone through economically in 2008
hop in 80 years before you book a
thousand years of Roman history museum
and when you begin to be able to sedate
what's coming you know how to take
advantage of the season some people
freeze the death for the weather people
that are prepared by snowboard or ski
and have a good time so it's a brilliant
book it's by of Strauss and how it's
working cool alright so there's before
I'm curious why didn't you recommend
when your book III don't think I pata de
cv I frankly have little bit of that
exactly a mentor incredible this is a
question from your son yes and I said is
there any question you haven't asked
your dad well the drop still curious
about and he said yeah you know he's
pretty calm actually get out his comb
guys not outrageous like you he said he
said you know my dad doesn't get any on
such a big scale everything is big
everything is huge and packed full it's
like the biggest it can be the best it
can be yeah he said but I wonder what
something small he's done that he's so
proud of hmm so is there something small
you've done you know an example is
giving money to you know that child was
a great example that but there's
something recently you've done it so
small you like really proud of I know a
lot of people don't think cloud is a
good term I think it actually goes ego
is edging got out that's when you make
shit up to make yourself feel good but I
think if
you've really done something you know
you have and no one can take that money
and so I'm proud of the lamb as a man
I'm proud of the things that you know
what goes on with the camera's not on
you know people around me all the time
that will tell the people stories about
what I'm really likes I don't have to
communicate that to people are getting
cared so I don't know I know there's
there's so many things in life I don't
to measure them as big versus small my
wife was somebody who would seem one
person who'd be thrilled and I had to
see you know 10,000 but I think so she's
bounced out for me I still I feel like
life is short and while you're here I
would have the most impact that I can't
I go deep and I go wife but every
interaction to me is an important
interaction and and sometimes that
interaction is just being kind of it
sounds yeah but a kindness can to the
right place the right time you know
somebody can be suicidal you know you're
being kind of the Cheney other state
yeah there's a sadistic story of the
gentleman who would who wanted to kill
Nixon and he couldn't get access to
Nixon it's true story and so he became
he wrote a journal that's how we know
the details of it and he decided to go
to go after Wallace and going to shoot
Wallace and he actually could do that
cheating and when they read his journal
there's fascinating he did want to kill
mix it was like him or Wallace he just
want to be famous you want to be worth
something and one of the reasons he
didn't kill mixing is he was going after
Nixon and he was this far from the
president and all of them bumped into
him just as he's reaching his pocket to
get this gun and Anubis everything's
frenzy he wants a shoe to becoming a
famous man you know another one of those
assassins and his woman grabbed his hand
as im so sorry I'm just so sorry and
he's letting his journal afterwards his
hand was on the gun Wow and her look in
his eyes with his love in her eyes and
this kindness in her eyes he said I
couldn't make her witness that he put
the girdle oh man that's leave nicks his
life why so good after all but that's
the power of a moment of kindness so I
think we underestimate you know somebody
came inside my family was 11 years old
you know
person must not be alive so that I've
told the story movies I haven't read
Jackie and every step to me yeah but I
mean imagine what the impact of that was
by that one little act of kindness crazy
yeah amazing so you go back to 31 if
there's my you're my age you know what
are the three things you do with your
money based on the information in this
book and you talk a lot about asset look
allocation yes fees understanding where
you're putting your money and
understanding finding a producer douchey
area right yes yes it's not a lot about
that but what will you do if you're
making knowing what I know today yeah so
go back you're 31 years old what would
you be doing well three things you do
first we hope so dude come so we talk
about you yeah that's right say you're
making six and seven figures said it's
wonderful yeah so what I would do in
that range is I would take and I would
model one of the best masters it was me
one of the people at the location some
people were clear is the one thing that
I've been with David Swensen he took 1
billion turned into 24 billion ink and
two decades million a year right
anything about that novel doubling it's
just mind-boggling and I asked them I
said what what are the dials were the
only niles we can touch and he said
don't need to increase your return
absolutely few things you can do he said
you can make better selections of stocks
he said you can have better timing he
said anything have better asset
allocation so the first two will never
happen to the first to cost money got to
hire somebody everything wrong in the
timing he said ask the location which
simply means dividing your money in the
different buckets some of those buckets
are secure so that even though you think
you're going to be a genius you're going
to make money no matter what nobody will
slower but it'll always be there it'll
give you freedom for the rest your life
there's a growth bucket which is also a
risk bucket we could get that yeah
because one of the great value taught me
said tell me everybody invests and what
they think they go you grew up with a
little state you're not a genius but you
made money in real estate if anybody can
what they'll say that right now is your
genius you think you know stocks oh
you're genius you know in 1999 right
there your genius in two thousand you
know Ted wrestling started know that you
said whatever you invest in in your
lifetime that area is going to drop
fifty to seventy percent there's an 0
exception show you mathematically and it
could show you historically so he said
you have to diversify even though you
don't want to and you have to divide
these monies up so
every one of them taught me different
asset allocations but one of the one
that I think is most valuable for
anybody to really take advantage of this
ray values because ray value has figured
out why is it 2008 if your stockbroker
your financial planner said we're going
to protect you we're going to put you
half in stocks and happen bond huh why
do they both go down you weren't
protected at all sending up into two
thousand in figured something out when
you think you're in a balanced portfolio
you're not balanced and the reason is
stocks are three times more volatile
then you'll find in box what does that
mean means when you think you're 50 50
you're 50 50 with your money but you're
not fifty-fifty with your risk your
ninety-five percent of risk if my ascent
of the good side that's what everybody
loses so we figured a formula because he
said look someday I'm gonna be gone yeah
I want my kids to have the money
long-term I want you know all the
philanthropic things I'm doing to be
taken care of so you spend 15 years
studying the markets and figured out how
do I design a portfolio that will make
money every time like if it loses money
it lost in 75 years it's lost one point
six percent when it's lost but the right
eighty-five percent of the time you went
to Vegas you want to find the work for
75 years and big money eighty-five
percent of the time and when you lost
you lost one point six percent when you
gain you gain more than ten percent the
biggest loss in 75 years three point
nine five percent lesson 4 Wow so why
did people not make it in the stock
market because you take up fifty percent
hit they all say stay a nobody no be
honest person never stays it if you look
at the last 20 years the average person
the stock market over 20 years so 1993 2
2013 has averaged 9.2 percent pretty
cool calm down e double your money
pretty good good during that right but
the average mutual fund investors made
2.5% oh why because they freaked out
they saw what it goes down they buy what
it's looking good the wrong time to buy
off they don't know what to do so what
ray dalio strategy does and by the way
he's never shared this strategy ever
pummeling gives it in here he gives it
at my buddy I'd offer steal my tease
about how older and the other said look
you're not taking me more money help the
average cut out he lays it out you can
do it yourself
someone will do it for you but it takes
15 minutes a year and eighty-five
percent success over 75 years and I
could take any time to it last 30 years
you lost money four times one of those
is point zero zero three percent so it's
really great exactly and again the most
evil lost less than four percent average
one point nine percent so if you're
looking for a plan I put the money there
may be other money but i would do is i
take some money and i look at what are
the biggest trends mmm i have a lot of
my money also in senior housing and the
reason is twofold it's a demographic
inevitability there's this giant wave of
baby boomers and there isn't enough
senior housing to take care of em and i
also i like it i'd like to create a
quality place or something to be able to
live and take care of and so forth but
there's huge income from it and there's
the growth in the asset itself so i'd be
looking at one of the big trends but i
would make sure I walk down a segment of
my money that just I took a percentage
of my income no matter what and I made
it really big I never have to work again
and that's why I know I don't have to
work and what's ironic is when you
interview people that make at least
seven or 50,000 a year right just under
a million eighty percent of them say
they'll never retire mmm univ you people
would make a very little amount of money
they all talk about what I retired right
and the people of different tires they
they'll retire after 75 like you know
steve is my buddy in 72 warren buffett's
ed what for they still working you know
you know I bet with Jack Bogle created
Vanguard he's been in the business 63
years wow he's 85 years old and such a
genius sit down there he spent four
hours are they by the way just came back
to 45ft wrote in the book here goes play
roms came by for 45 minutes for hours
later a provocative and probing
interview my rapist but but you know the
guys still in the game the real goal is
not to have to work if you don't work
you will start where you're mad because
only to be productive to feel alive yeah
interesting couple questions left for
you sure one of them is what's your
definition of greatness I don't know I
think everyone as greatness i don't like
that separation i respected because of
sports i think it's really easy to
measure but sports is one aspect of life
you know i think everyone is absolutely
great to me being green is being
outstanding to stand out from all the
rest and and as you know it's sports it
can be by you know a few microseconds
right you know the olympics you know
there can be a nose here
and you stand out if you stand out you
sure the people as possible not to
realize that some people get angry and
think you're showing them up other
people get inspired I've always been
inspired by somebody who's the best in
the world of what they do and so I think
greatness is somebody who just will not
settle and finds a way to do be share
and creating life what they want as
opposed to fitting in I think most
people are trying to not be rejected at
you know I wrote in this book idea i
took a quote from aristotle saying you
know how do you really live your life
well if you don't want upset anybody
it's really simple don't do anything go
Fago be anything and everybody likes you
yeah but if you want to have a quality
life I think you just have to put
yourself on the line and so to me
greatness is people to put them up on
the line to keep growing they won't sell
hmm so what's next for you why you still
what are you still up to I mean why are
you going after 500 million people
feeding under million people what's next
why not but I think what else you do
realize I look at there are lots of
challenges I mean this was a problem I
wanted to go after it's a problem
because people are being abused by a
system that only means to use it it's
just it's not an email systems just you
have large corporations that are set to
make a profit and that's their job
they're not going to make you as an
investor more profitable right they take
care of their sugar / first so they get
all the fees they can regulate the
system so I want to give people freedom
you know to me that's valuable but you
know what I do in my life as I look at
what i see that moves me I mean I always
some people come ask me about speaking
and said you know how do you be your
focus because don't speak much shit
you're not passionate about you know and
if you don't have a train true edge or
you can help somebody yeah if you think
that a massive values and your passion
down in the pocket but otherwise shut
that you know what up have you so when I
find things that I'm very passionate
about I like to go deep I think we live
in a Facebook world a Twitter world
tweeting world texting world where
people are by technology not realizing
they're becoming more and more shall I
me know people any relationships like
texting her eyes like that are you
kidding me history white wood for
subsonic understand you see this like
and I was going to run our you kidding
but technology is making us things in
our Facebook friends are friends yeah
give me a break there's only a few
frames you
go deep with he can't have 10,000
friends yeah and go deep and I think a
lot of people are dissatisfied because
technologies may just go faster and
faster so I look for things to go deep
in and I think in in our lives there's a
few areas of matter your body your
emotions your spirit your relationships
your economics and your business those
half dozen or so areas I like one deep
and I'm gonna keep doing it sure Chad
Moreta asked me to he said all the
interviews we've done lately prolong his
book very intellectual he said I'd love
to see you get them in his physical
state and show your move so in a second
I want to see if if you'd be able to
doing it up thumb wrestling and getting
into states we can show people how you
do this you get your elbow on the field
exactly you're going exact getting on
stage I'm gonna get status that's not
what it's about I would love to see you
see how you get into it right before you
going on stage and they're not to go to
speak to progress closely arm wrestle
but before we do that if you're open to
it I just want to I want to acknowledge
it Tony I think it's you know you've had
a huge impact in my life and saying the
people I not posted last night you know
maybe the interview and tony is there
any questions you guys might have and
hundreds of comments and questions and
people saying how you've impacted their
lives so I just want to say thank you
for creating the spark for so many
people including myself when I was 16
and watch first time where did you come
to similar it was in st. Louis Missouri
I'll have to jab at center back in the
day yeah it was a I don't think it was
you pw is like so one day of it wasn't
it the one you might even want you to do
i remember was like you know Donald
Trump was there to get a meal or like a
lot of people were there yeah I remember
my dad bought us floor seats like
probably halfway back on the floor here
and there was a moment when you walked
out and you came out and you walked
right next to me I remember thinking
first off while you're really big it
just looks smaller then but I remember
thinking how you know this is so
inspiring that someone can take an idea
of what they want their vision and
create it and manifested into speaking
in front of thousands of people and
really adding so much value to the world
and somebody people's lot here and I
remember then taking that's something I
would love to do one day is be able to
rely on a vision into reality
you know so I want acknowledge you for
creating a spark and so many people
every workshop you cry so many people
are moved and changed yeah and so I
think it's so powerful what you've
created and I want to hate now agrees
with that was of one of your triggers
yeah yeah it's very cool Thank You cool
i love to do this movie could do it
already yep so whatever you want to
focus on I wouldn't think into your move
if you can shell oh just totally
artificial s like we talking about
passion right if it don't go to fashion
ok I've got faster thumb wrestle the
hell is that three two one two three
four I declare a thumb war okay have you
ever done this before let her go for
okay oh you got to get my thumb down are
you going to hold it for three seconds
ok you got the big hand ok let's go on
to Tony maracas oh you got our videos
with Iran us thank you so much thank
appreciate thank you so much
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