Tony Robbins on financial independence

I came across this video where Tony Robbins talked about financial independence. It is an hour long video and if you have the time then watch it otherwise I have listed below some key takeaways.

  1. Definition of financial security, financial independence and financial freedom.
    1. Financial Security: Housing, cars, food and basic entertainment is covered for life
    2. Financial Independence: You don’t have to work and everything is covered
    3. Financial Freedom: You don’t have to work and everything you can think of is covered.
  2. No amount of money will make you wealthy because the moment you reach your goal, you move it further.
  3. Pick a specific percentage of income to invest periodically – no matter what. “Pay yourself first” philosophy.
  4. 80% of wealth is psychology and 20% os mechanics.
  5. Three buckets of asset allocation in the following order.
    1. Security Bucket (30-40%) consists of cash for 2-6 months, your home, IRA, insurance, fixed income investments
    2. Growth Bucket (30-40%)
    3. Dream Bucket (remaining %)
  6. Your decisions not your conditions determine your financial destiny.

Thanks for reading and have a great day! 

About Shakeel Akhtar

I am a husband and a father striving for a balanced life. It is my belief that a balanced life could result in a life of zero regrets. With this mindset, I am blogging on 7 areas of life that I call the 7 colors of the rainbow of life. We are given 168 hours every week to paint our rainbow with these 7 colors and if we are able to do that then there is a chance that we could find our "pot of gold"
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