Tony Robbins on Morning Routines, Peak Performance, and Mastering Money (#37 & #38)

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“Our revenues are now over $5 billion annually. Without access to Tony and his teachings, Salesforce.com wouldn’t exist today.”

– Marc Benioff, Founder of Salesforce.com

“[Tony] distills the concepts of the best investors in the world into practical lessons that will benefit both naïve investors and skilled professionals.”

– Ray Dalio, Founder of Bridgewater Associates, the world’s largest hedge fund

Tony Robbins is the world’s most famous performance coach. He’s advised everyone from Bill Clinton to Serena Williams, and from Leonardo DiCaprio to Oprah (who calls him “superhuman”).

For years, you’ve also asked me to interview him in-depth — so here it is! I flew to Florida to spend time with Tony in his home, and what ensued was an epic two-part conversation.  It covers just about everything imaginable. Special thanks to Joe Polish and Peter Diamandis for re-introducing us.

Ep 37: Tony Robbins on Morning Routines, Peak Performance, and Mastering Money
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Ep 38: Tony Robbins (Part 2) on Morning Routines, Peak Performance, and Mastering Money
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My visit coincided with his first new book in 20 years: Money–Master the Game.

I love Tony’s work and it helped me start my first company, but when I got an early draft of the book, I thought to myself–really? Another book on money? Ugh. I prepared to be bored, especially since I think of myself as an experienced investor [pats self on back]. Instead, and very surprisingly, I was blown away. Before I knew it, I was pushing off other work, letting my dinner get cold, and staying up hours past bedtime each night, all because I couldn’t stop reading.

Why?

First off, he saved me years of my life! Over the last 10 years, I’ve been approached by several top hedge fund managers, who’ve suggested I write The 4-Hour Investor by collaborating with them and their friends. Tony has written that book perfectly, so it saves me the trouble. I can just point people to this book. Which leads me to…

Reason number two, he goes DEEP with many of the investing icons I’ve always wanted to meet, including Paul Tudor Jones (who he’s coached for 10+ years), Ray Dalio, Carl Icahn, David Swensen, Kyle Bass, and many more. These are the hard-to-interview “unicorns” who consistently beat the market, despite the fact that it’s called impossible. In this book, they disclose details and examples I’ve never seen anywhere else, and I’ve read A LOT of books on investing.  For me, the interviews alone were worth the entire book.

In the following interview, we dig into everything: Tony’s morning routines, his diet, how we works with the world’s highest-performing athletes and traders, common misconceptions about him, the most typical money mistakes he’s uncovered, and on and on.  I even ask him to palm my entire face (Here’s the pic!).

Enjoy!

You can find the transcript of Part 1 (Episode 37) here. You can find the transcript of Part 2 (Episode 38) here. Transcripts of all episodes can be found here.

Tons of links and goodies in show notes below…

If you can’t see the above embedded players, here are other ways to listen:

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QUESTION(S) OF THE DAY: What is the best piece of investment advice you ever received or read? Please let me know in the comments.

Scroll below for all show notes, and thank you for listening!…

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Selected Links from the Episode

Show Notes

Note: “Ep1” = Part 1 and “Ep2” = Part 2.

  • What it’s like to coach (and question) the worlds top 1%? [Ep1-10:07]
  • Tonys advice for ‘How to get out of a slump’ [Ep1-14:25]
  • Tony’s morning routine – including using cyrotherapy [Ep1-19:08]
  • Tony’s daily priming ritual [Ep1-26:16]
  • The biggest misconceptions people have about Tony [Ep1-32:20]
  • How 2 millimeters can change your life [Ep1-41:14]
  • What inspired Tony to write his first book in 20 years [Ep1-45:30]
  • How Tony’s new book is feeding 50 million people this year [Ep1-55:01]
  • The first questions Richard Branson always asks before going into a business [Ep1-59:14]
  • What a 50% investment loss actually means [Ep1-60:04]
  • Why a nickel costs 5 cents but is worth 6.8 cents. [Ep1-63:01]
  • What “average rates of return” actually do to your money [Ep2-3:40]
  • Nobel Prize winners’ advice on automating your investing [Ep2-5:16]
  • Why investing is just like monkeys playing with apples [Ep2-5:54]
  • One of the nine biggest lies in our investment lives [Ep2-6:23]
  • How mutual funds are driven not by rates of returns, but marketing [Ep2-9:10]
  • Why most mutual funds underperform the market [Ep2-9:54]
  • Ray Dalio’s “All Weather” Investing Principles [Ep2-12:51]
  • Why losers react and winners anticipate [Ep2-27:07]
  • What exactly is “diversification”? [Ep2-30:10]
  • Why investing should be maximising quality of life, not maximising returns [Ep2-34:08]
  • What you need to ensure against your lesser instinct [Ep2-39:23]
  • The story behind Tony wanting to punch Obama [Ep2-42:20]

People Mentioned

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359 Replies to “Tony Robbins on Morning Routines, Peak Performance, and Mastering Money (#37 & #38)”

  1. I love the podcast and have been waiting for your to interview Tony. So happy to have this. My best piece of investment advice came from a mentor in banking: “Keep it simple”. If you keep your investment plan simple, its likely to be more approachable. If you make it complicated, you avoid looking at it like building a rocket.

    I take Tony’s “bucket” approach and made an infographic on what to do with my money when it comes in. Pictures resonate with me better than spreadsheets.

  2. Great couple of episodes!

    I was excited when I saw the title of this post. I’ve been interested in morning routines for some time now, so hearing about Tony’s was particularly special. I’d love to publish a more in-depth version of Tony’s morning routine on my site sometime!

    I commend you Tim for how quickly your interviewing style has developed and improved in such a short space of time. When you first mentioned that you were considering starting a podcast the idea of hearing you consistently (rather than reading you consistently) seemed foreign to me. Now, several months down the line, it honestly feels like you’ve been doing it for years.

    Kudos! There’s always a space for you on MMR too, I’d honestly love to hear a more in-depth insight into your mornings.

    Benjamin

  3. Awesome interview Tim, thank you! Tony really is a beast! The best piece of investment advice I got is not so much related to “investing” world but rather to managing money and resources in general and comes from Ramit Sethi.

    And that is (in my words): “get your shit together FIRST aka get out of debt – and THEN go and build a business, change the world etc”!

    While there are stories about people going from bankruptcy to riches, and one could say that when you have no options (push yourself into a corner) – you will make it work, I think that because we fail most of the time (like Ray Dallio says to expect it) – you are highly likely to be wiped out completely…

    Then it takes a lot of time to recover to be able to try again.

    I tried to build 3 different businesses while I was in a huge credit card debt. All essentially failed and gave me valuable lessons, but I realized that with about $1000 to spend on a new business before you go completely broke is a very, very unlikely way to make it work.

    If I had known this 4 years ago, I would have first focused 100% on paying off the debts and clearing other money-wasters, and then focus solely on building the business, which is what I am doing now (look forward to spending a week with You and Richard Branson in 2015)!

    Thanks for the work you do Tim, it is highly appreciated!!!

    Amir

    1. Could not agree more! I have learned this the hard way. Get ur shit done first helps reduce risk, distraction, while improving success!

    1. Read the book. Me and my girlfriend both did. Took action and found a really, really good fiduciary (will cost you time, please don’t rush this step) as Tony points out is so important. We have invested with this fiduciary €25.000 and start new investment plans when we have kids – for them. We did this after first getting out of debt. You can start small. But start.

  4. At the end of the second interview, Tony mentions that he has three videos available for people who preordered from amazon, but he never says how to send him the amazon receipt. Does anyone know what he meant or how to do this?

    1. Hey guys and Tim.

      I also ordered the book and was sent an email with a link to create a new account on Tony’s site so as I could watch the videos.

      BUT, the link doesn’t work…..

      Any help appreciated!

  5. The only good advice I have every received about money is to pay off debt quickly. The children of the US and the world need a better education about money and finance or they will always be the 99%.

    At the end of the recording Mr. Robbins mentioned that he would give you a link to share for people who purchase his book to get access to some videos. Can you please post that?

  6. Investment in oneself. You were the medium for the information to be found but Seneca’s “On the Shortness of Life” has been the best investment I think I’ve ever made.

  7. Excellent podcast! The best investment advice I ever received was to take all emotion out of your investment strategy. Too often people make their investment decisions when in a heightened emotional state. It’s just a bad idea, and causes people to buy things when they are at their peak and sell when they are at the bottom.

    People don’t see it until you put in in more familiar terms. For example, most people can understand selling their home. If the did home purchases in the same manner as they buy and sell stocks, they’d wait until their home value dropped and then sell it for fear of losing all of their investment. Then they wouldn’t buy until everyone and their brother was talking about a neighborhood, thereby ensuring that they paid the maximum price for the hot popular area.

    By studying and implementing a system for when and how to invest, and when and how to exit an investment, a person can remove their emotions as much as possible and begin to maximize their returns.

  8. Best episode so far.

    Incredible.

    This is one I’ll listen to over and over.

    I think there are so many lessons to be learned by Robbins operating system. It’ll take me many different points of view to distill it all.

    My biggest take-away was to henceworth view myself as an investor: to view all decisions as investments of resources. No matter how small the decisions are.

    Thanks Tim!

    (Left a very thoughtful comment on the episode with Diamandis & Robbins. Please read it if you have a few seconds to spare.)

  9. Another brilliant podcast Tim. A friend of mine who also has his own business recommended Tony to me a while ago so having him on your show has been the perfect introduction and will definitely lead to me reading and listening to more of his stuff.

    I am in the middle of one of those self-doubt slumps that you both mentioned so it’s perfect timing to listen to two people I have so much respect for talking about how to get out of it – I had already started taking a step back to re-evaluate and re-focus, so the additional guidance right now is priceless.

    Keep up the good work – your books, blogs and podcasts to me are like Tony’s first book was to you.

    Paul (from Liverpool, UK)

  10. There was also going to be a link regarding the breathing techniques Tony mentioned in his priming ritual? Is that coming, or did I just miss it😊

  11. I’ve read a couple of Tony’s books, and reading his words you can get a decent feel for the subtext and the emotion behind the points he makes – which I find very helpful. That said, it’s a whole lot better listening to him speak instead! An inspiration, I am not surprised Marc Benioff from SalesForce gave him that compliment as mentioned at the start of this post.

    Thanks for the interesting listen 🙂

  12. I just found the link to the book site. You can get a copy of Anthony Robbin’s new book for FREE (+s&h $6.95) at http://moneymasterthegame.com/. After you order the book you will be receive links to the three Fast Track videos starting Monday, Oct. 20, 2014.

    Tim, if you are getting any referral revenue from your Amazon link, I’m sorry for posting this link. However, I did order two copies from Amazon as gifts to my kids.

    1. Totally fine — I was actually looking for that link!

      Thank you for posting it. I’ll put it in the blog post when I finish a few things this afternoon. I don’t care about the Amazon links.

      All the best,

      Tim

      1. Tim – definitely just went ahead and ordered on that site before seeing your subsequent comment.

        ….Hoping the comment doesn’t mean it was a scam….

    2. Hi, does this offer (or does the shiipping cover) only apply to US citz or can anyone globally benefit from the free book?

  13. Hi Tim. Loving the podcast. Keep it up.

    Just a honest feedback from a longtime listener of podcasts. Whenever you release 2 files in the same day (as today), people usually only get the latest. The podcast app generally only downloads the latest file, so for example today I left thome only to find that I had only “Tony Robbins Part 2” downloaded. I manually downloaded the other one, but not everyone can do that without wifi.

    So, just a head up. Love your work, and I’m loving the podcasts even more than your books and blogs. Maybe not 4HWW. Bye!

  14. As a trader, I loved Tony’s insights from the top performers in trading and how they manage risk and how the average people make irrational decisions and get fooled. Awesome! Thanks Tim!!

  15. Great podcast. However, Tony kept bashing “weeds,” so I just want to correct him and write a note on “weeds.”

    It’s a popular consensus that weeds are bad. However in nature, weeds are good. Weeds are the first stage for a natural environment to become its natural self sustaining state once again (e.g. a forest). Weeds loosen the soil so that the soil can absorb more water. After this stage, the 2nd stage occurs and weeds go away. (it’s a 7 step natural process to become self sustaining again).

    So Tony and the rest of the world, quit bashing weeds, it’s actually the pesticides, constant mowing and idiotic man made landscaping which is detrimental to the Earth, not weeds!

    For more info on this, study Permaculture (the study of natural systems). They teach how to reforest any landscape. Basically the study of how to prevent climate change…Tim do an interview with Geoff Lawton (the permaculture guru)!

    1. @Jason Chang – thank you for your comment! We all need to change our thinking about some things and weeds are one of them. What is a weed anyways? It’s just a plant, any plant, growing where you don’t want it to.

      I have to second the suggestion for Tim to interview Geoff Lawton. Geoff is an amazing and humble guy while also doing earth-changing work. Hope to see his interview on the blog soon 🙂

  16. Nice, I’m a big fan of tony and I enjoyed the last podcast with him as well. Btw – is Frank Kern writing your blog posts now? I’m kidding, but it reads like one of those old long-form sales letters. Frank is actually pretty interesting, too – you should do a podcast with him.

  17. Fantastic Interview! Quality is so good – I was wearing my headphones and I actually looked behind me when he snapped. Thanks Tim, there were lots of great tips. Off to listen to again to see what I missed.

  18. Invest in yourself.

    “Spend” time (and money if necessary) on preparing yourself for work every day, every week. Make yourself into the most valuable asset you have.

  19. Thanks again Tim for an amazing interview – like you, Tony Robbins changed my life back in 2005/2006 when I started reading his books, listening to audios and changing my mindset.

    I am a hardcore reader so I have missed his books – I’m thrilled about his new one.

    It was a great podcast – and you didn’t sound too fan-boy-ish:) It’s so brilliant that you’re using the access you have to such big names to share the knowledge with us. Thank you – I seriously appreciate this interview, and have re-ordered all Tony’s backlist.

    I would be really keen to learn more about NLP for peak performance – perhaps you could interview someone else about that another time.

  20. Great interview!

    I think the kind of people in Tony’s book are obsessed about money to an extent that it has become a second nature art for them because they have been doing it for so long!

    So simply thinking that these principles can be followed by everyone is not realistic! You have to have the same passion for making money as these people have. Think if ‘making money’ as a sport and these people as pros who have been practising forever.

    You can hear Roger Federer tell you about the right technique about serving, but unless you are really passionate about tennis and yourself know the ins and outs, it won’t be of any use to you.

    Still lot of gems in this podcast. Thanks Tim!

    1. Hi Tim,

      I was always keenly anticipating your podcast since reading the 4 Hour Work Week in Jan this year (yes I know I’m late, but that book truly changed my life and the way I think). The evolution in your interviewing style, podcast content and your choice of those to interview is excellent and the recent Tony Robbins interview was your best yet.

      You asked for advice, mine would be that ‘The grass is greenest where you water it, feed it and invest time and love in it”. This is true of anything, be it relationships or business.

      Keep up the good work, you are an inspiration.

  21. the best piece of advice I got was during my MSc and was a bit technical “they ALL move in tandem, so if you see a low correlation.. check again, you’re probably missing something” talking about stocks. and 2nd best was “what fundamentals? it’s all about speculation” talking about oil price

  22. Great episode.

    The audio for this seemed a little off. It seemed like 80% of the sound of your voice was coming out of the left channel, and hard to hear from the right channel. And the opposite was true for tony, most of his voice was through the right channel. Got used to it but it’s not something I’ve noticed before.

    1. T.J. I agree and experienced the same thing wearing headphones. Listening to the podcast streaming onto my car stereo via Bluetooth, I guess it only streamed the left channel as Tim’s voice was clear but Tony’s was very faint, so I had to bump up the volume almost to max. Tim, please fix the audio. There are suggestions on the thread to use SoundSoap.

    2. Hey T.J.,

      I think this is because the podcast was recorded with stereo sound instead of mono. Mono sound would make both speakers/audio channels play at the same levels, while stereo sound has the audio channels manipulated individually, giving you a distance effect. Stereo recording makes it sound a bit more realistic as it emulates how sound would actually travel to your ears if you were physically placed in the middle of where the recording was taking place. For example, if you were sitting in a room with people talking, the person on your left would sound louder to your left ear than your right etc. This is why you get the varying volume levels in the left and right ear channels.

  23. Hi Tim,

    Awesome podcast. I always look forward to your new releases. I just wanted to give you quick heads up that the last two with Tony Robbins are actually in stereo, instead of mono. So, your in the left speaker and Tony’s in the right. Not that it’s critical, but if someone is listening to this with one ear-bud in, they’ll mainly hear one mic and the ambient sound from the other side. So, the levels are off. If this was recorded on a portable recorder, it’s an easy fix, it just needs to be summed to mono and everything is heard equally from both speakers.

    Thanks for all the great advice.

  24. Hi Tim,

    Tony mentioned the free videos if we send a copy of our Amazon receipts. Do you have the link or email for that? Fabulous show. I’ve never really listened to any of Tony’s stuff but I’m hooked now.

    I’ve met Ray Dalio but I would never have known what to ask him. He is a generous man though.

  25. hey Tim,

    Thanks for the interview. Always good to hear from thought leaders.

    Sidenote; RE: 99 designs: do you know any other services where I can get people to labor on say, house projects, website programming, investing, and myriad other professions, where if I’m not satisfied with their hours of labor, I can get my money back?

    Thanks.

    :\

  26. Tim, when Tony influenced you so much you were probably smart enough (not having any real money at the time) to not spend $20,000 on all his seminars – DWD, Life Mastery and Financial Mastery, but I was not. I loved all the seminars, but I couldn’t even take advantage of the Financial Mastery at the time. Now about 15 – 17 years later years I am a poor 69 year old man. I can’t resist the guy however so I will be buying the book. At least I can tell my kids what they should do.

    Tony always says your life is either an example or a warning. Mine is a warning. I think “warnings” are important learning opportunities. I would be happy to do an interview. 🙂

    Bill

  27. Tim,

    To remove the static and hissing from the audio, put it through SoundSoap.

    Did the exact same thing with Annie Lalla’s podcasts, and they sound sweet after static and being over the phone recordings.

    – Podcast is awesome. Tony Robbins is legendary, and you asking questions just made it sweeter. Pre-ordered the book.

  28. Awesome episode! you rock Tim! I did preorder the audiobook off amazon as Tony suggested and want to know where to send in the receipt for the fast track videos?

  29. I didn’t even know Tony Robbins had a book coming out next week – so hyped for it! Thanks for the amazing podcast and thanks for keeping us all up to date 😀

  30. Hi Tim, another great podcast with amazing content. Thank you very much!

    I think the notion of trying not to lose capital coupled with asymmetric bets is the most fundamental piece of investment advice. Apart from the great investors that Tony mentions, variations of this theme are preached over and over again by various other investment hall of famers, e.g. the Dhando framework of Mohnish Pabrai “Heads I win, tails I don’t lose much”, Graham’s margin of safety, Munger’s advice on preventing stupidity before attempting genius, Buffett’s motto of waiting for the fat pitch and heeding the two rules of investing:

    Nr. 1: Don’t lose money

    Nr. 2 Remember rule Nr. 2

    etc, etc, etc. As Tony says if you continuously to go for the 3-5 baggers and you allow your money to compound, you’re bound to get satisfactory results in the long run.

    But we all know that this is easier said then done and requires more temperament, character and discipline than 160 IQ brains.

    Beste aus Berlin,

    Rainer

  31. Hi Tim,

    I do not know much about Tony Robbins life, but in your intro you state that Tony Robins “consulted or advised” Mother Teresa… is that true? I only find reference to a brief interaction he had with her, not any reference to consulting or advising.

    Thanks,

    Aaron

  32. Great work Tim!

    Well that totally interrupted my morning routine! But it was worth it…

    Investment advice:

    Preserve principle & manage risk – if you just never lose money and gain moderate returns you will accumulate over time. Not sexy but you do end up with “assets to allocate” and can punch for bigger wins and minimising risk…

    Thanks again Tim.

  33. Wow Tim , this podcast is brilliant. Both you and Tony are such inspirational people I look up to. Keep these podcasts coming!

    1. Tim, hello from Tokyo. In the podcast you both stated you would provide a link to information on the breathing routine Tony does each morning. Has this become another Secret? Should I call up Rhonda Byrne? リンクを投稿すると言えば、状況が変わっても何か情報を出した方がいいと思いません?

      For anyone else interested in learning some powerful breathing techniques, Dr. Weil has a great program.

      1. I’d be curious to know how you know this. No where does he mention this author or book, so it’s a pretty suspect recommendation…

    2. I am aware of one breathing routine of Tony’s but do not know if it is the same one he talked about on the show. (This one comes from M.I.T., breath walking)

      This comes from “Ultimate Edge” :

      you breath in four breaths through your nose and exhale through your mouth four breaths. Tap your finger tips at the same time. With the first breath your thumb taps your index finger, the second breath your thumb taps your middle finger, the third breath your thumb taps your ring finer and the forth breath your thumb taps your pinky. Repeat this for the exhale as well.

      I just revisited this and am doing it daily and it is incredible. You breath like this for 5 mins, then 5 mins of gratitude and planing your day followed with incantations. It is WONDERFUL. I get high from it.

  34. Dollar Cost Average your savings to invest in a diversified ETFs; Live below your means; and leverage your cash by taking the biggest mortgage you can afford. Rick Edelman is one of the smartest and most ethical independent financial advisers available. He provides extensive free financial literacy education for those who are interested.

      1. Enjoyed the podcast. Well done Tim. Disappointed with the stronghold analysis of my broker account (that I linked as requested). While my portfolio has a relatively similar asset allocation to the stronghold recommended allocation and an average expense ration of just .2%, the analysis somehow claims that I will save a fortune by subscribing to stronghold and adding their .75% fee. Obviously a flawed simplistic analysis designed as marketing. “Look at these savings!”

        Better strategy, invest yourself at a discount broker buying stocks/bonds directly or lowcost ETFs directly.

        I think that anyone following the book’s advice would never use stronghold and pay such a significant fee (even if this fee is much lower than many other firms).

      2. I’ve seen a lot of shaky reviews of the book that simply strawman argue against the “product placement” that Tony does, but fail to make any substantial argument against any of the principles of the book. My open-minded reading see these as suggestions about how to implement, that always have to be passed through a common sense check. Stronghold, for example, is likely not needed for anyone comfortable enough with basic financials and doing some homework themselves.

        But I appreciate that some people find finance boring and dry, and are mentally unable to bring themselves to focus on it, because they hate it. At that point, there are 2 options: let it fall into decline (much like an unmowed lawn), or pay someone to do it. I do this mental math with my lawn, and pay someone. My parents belong to a different generation, do the math in their head differently, and do it themselves.

        This comes to the second point. For some of us, there’s also a time/money gut check for things we don’t believe we have the time or skill to execute with competence or excellence. I’m not going to do my own taxes, plumbing, or my own electrical wiring. If I devoted myself, I could become competent, but my time earns more money elsewhere. Some will also gut check this and want to pay someone else to be up on the latest, know the market,etc. this is where I view the “product” suggestions.

        Before I used a single one, I’d ask myself if I needed to pay someone (and be dependent on them, like the Stronghold example), or whether its truly the product out there that meets my needs best (like the annuity products). In the same way that Tony advocates knowing and challenging the fees with funds, that same advice has to apply to products he recommends: Don’t buy or sign up blindly, examine what it offers, what it costs, and decide if it fits your situation.

  35. I found the interview with Robbins fascinating as I have avoided all his informercials, etc. Now, I am going to buy his Money-The Game book for sure.

    Thanks for a great interview.

    JAStC

  36. An amazing interview. Got chills just imagining being in your shoes during the process. Question, Tony mentioned something about if we get the book through amazon and send him a receipt we’ll get access to some additional content… Did I hear that correctly? If so, do you have the details?

    Thanks for bringing us in “proximity” to Tony and his amazing enthusiasm! Your last three podcast have been great – Keep up the amazing work!

  37. Best podcast yet. Only knowledge of Tony Robbins came from the film “Shallow Hal”.

    Did Tony leave his contact info to where we can send our Amazon receipts to receive his video?

    Also, did you have a link for Stronghold Financial.

    Great job!

  38. The best financial advice I ever received was and is always, always, always protect the downside.

    The second best advice was assign all your investments an expiry date. It could be two weeks or ten years. If you haven’t met your ROI targets by that day on the calendar – pull the plug and move on.

  39. Pure gold your podcast. I started listening to many, but this one has so much of good stuff instead of “blah blah, we are doing podcast and we’re so cool” – so many podcasts are like that.

    As for investing advice, pretty basic – invest 10% of what you earn each month. I grew up NEVER learning about investing, so just basic ideas that anyone can invest was really revealing.

    Also – you asked before what could be your next project. I think in podcast with Alexis you mentioned your interest in human gut bacteria and all those things. I think this information is so not well known, and many people suffer from bacteria imbalance (like candida) and they have totally no idea, keep taking antibiotics and making things worse. If you get this thing out there, could help millions of people.

  40. At the risk of being redundant…..wow! just wow !

    Tony Robbins….everything he says is new, amazing, and fills a person with energy while demanding that one take a hard look at oneself and say- ” I have to change, I can change, and I am going to .”

    Tim, you do a great service to 1000s of people with these podcasts, please keep up the great work.

    thank you.

  41. So … did you try out the cryotherapy? what was that like? I would like a Tim Ferriss breakdown of the benefits and explanation of how it “removes” inflammation. I love Tony … great interview … Tim Tim Talk Talk A+

  42. Where are all the show notes?

    – brand name of the cryotherapy machine.

    – the stronghold financial website Tony mentioned.

    Those are the two that come to mind at the moment but there are plenty of times in the episode when you mention “it will be in the show notes” but I’m not seeing much here.

    1. I think there’s already a great deal of work that Tim puts into having this podcast up and running. Be a bit grateful will you?!

      Do research on your own and if you dont find what you’re looking for, I will help you.

      1. I’m enormously grateful.

        Your reply strikes me as nothing short of trolling. But perhaps that was not the spirit in which you meant it. That’s the thing with comments on the internet, you never can be sure so usually one does not make rude assumptions all the while saying nothing of actual use.

        If you can help, do so.

        1. Who is the troll? Certainly not me. I did try to look up the information. If you’d read my comment you would see that. Happy trolling to you.

          >

    2. I’m with Jason. Loved the podcast, great interview. Missing some show notes. And poor audio quality.

      It’s called a review…do your research Chris.

  43. Tim, boy are you hard on yourself. Managed to take in part one today and it was fantastic start to finish. I could feel the excitement of you getting to meet one of your long time heroes, it was something special. I can’t thank you enough for brining these conversations to a place where so many of us can be proximal to this way of thinking and become inspired to act.

    You asked on Facebook if you should teach a course. Many people were quite negative about the idea, and it seemed as though you were agreeing with the naysayers. Tony said something in this interview that compelled me to urge you to design a course and go for it. I can’t remember exactly but he was saying something along the lines that he only chooses to work with people who have the potential to create a huge impact and then went on to cite the work of Paul Tudor Jones and his Robin Hood Foundation.

    Well you have the unique opportunity to leverage what you do into 20-100x performance out of some of the highest potential people on the planet, just like Tony does every day. It will take you amazing places, go for it!

  44. The most important advice/learning I got from my finance degree is knowing about alpha hunters vs beta grazers and accepting who I really am in this spectrum. Too often, everyday people with no special knowhow or skill fancy themselves as alphas, taking outsized risks with little information, poor diversification, etc. data shows that in stock investing, few beat the market consistently. Understanding my weaknesses, i chose to be a beta grazer. I invest in a handful of mutual funds and take a view on economic swings which directly correlate with overall s&p movements. I get approximately just the market returns, but it gives me the peace of mind and the time to pursue other things that also give me happiness and wealth (my skills, job, hobbies, family, etc). It also doesnt leave me too exposed to the risks. This approach may seem like such a chicken-shit approach that is probably not typical of the tim ferriss reader, but it works for me (for now).

  45. I just listened to the first podcast. You are so right on, this is a great update on what Tony is currently up to. I love your questions and his clarity and respectful tone in deepening the conversation.

    I was disappointed to find that the book isn’t even out yet, lucky you to have a copy already. You might want to mention that somewhere.

    And you and Tony both mention a ton of resources that you are going to post links to that i can’t find. I’m looking for the cryotherapy products, the one he has now and the one he is getting. Also the audio he listens to in the morning.

    At one point he says he’s a high protein, grains person, no carbs person, not sure what that means, grains are carbs. He looks overweight to me, and has for a number of years now. Having watched him over the last 30 or so years, his voice seems very tired and gravelly and he seems to have gained a bunch of weight. Not a great modeling. What was your experience of being with him?

  46. Hi Tim,

    Great podcast! Where can we find out more information about “priming” and the breathing techniques & thought process used?

  47. Another all-star podcast, with a true legend no less! You both have a direct, no BS style…and that really meshed throughout the interview. It was fun to get to know Tony on a more personal level…and at no point did I feel like he was here hawking his book (pre-ordered). I’m excited to try out some of Tony’s morning routine, including his “explosive change in physiology”. Thank you for making this interview available to everyone!

    Best investment advice: Focus on investments (or trades) with 3x,4x,5x returns for the money risked…give yourself some cushion for the times that you will inevitably be wrong.

  48. Tim, I love your podcast and am a big fan of Tony as well as most of your guests. I really appreciate your time and love you are putting into sharing this information with us. But, it felt really shitty when you called us your “dear little munchkins” and really think you can raise the audio quality on these in person interviews. Tony was in one ear and you in the other. Fine with headphones but didn’t really work in my car. Content is so amazing! I am a better person for it. Thank you.

    1. I second Greg’s sentiment. I could just about hear it in my car on loud volume but not with the windows open.

      Keep up the great work with the interviews, Tim.

  49. Tim…thank you always for the life insights…I tried the Tony Robbins wake-up routine…I am in Thailand so only could jump into very cold shower..it was awesome..feel like it got my system going for the day…thanks again…

  50. I enjoyed this podcast- thanks! Best piece of investment advice: buy low and sell high. What was it that helped his wife get better?

  51. Another very informative and entertaining podcast. You mentioned briefly in one of your podcasts about the micro biome being beneficial for skin. Would love to hear more of your thoughts on this through blog/podcast. Thank you for all the practical information you put out.

  52. So awesome to hear two of my biggest inspirations together. Great stuff Tim, thank you! Very excited to get my hands on Tony’s new book.

    As for the best investment advice I ever received, simply put, don’t follow the crowd! As the great quote goes:

    “When you find yourself on the side of the majority, it is time to pause and reflect”.

  53. Tim,

    I loved the podcast. He is such an interesting person and i enjoy his no bs attitude. Great questions, I really got a lot from the interview.

    Cheers

  54. Tony mentioned a link to his breathing pattern that would be online shortly, and you promised it in the show notes. Please let me know when it’s available, I’m very interested in the breathing pattern Tony uses.

    This was a fantastic interview, Tim. It was a real pleasure listening to two high-performance paragons getting into the nitty gritty.

  55. Tony mentioned that we could receive 3 videos that he created by sending him the receipt for purchasing the book. Where can we send that receipt to get access to those videos?

    On a separate note, your podcasts are the highlight of my week. I was reading Four Hour Work Week and Unleash The Giant Within simultaneously years ago which both changed my life (I actually credit them for landing me a job with Uber). Keep the great interviews coming!

  56. Thanks fort this interview, so valuable! Preordered the book and ordered The Obstacle is the Way from your BC as a way to say thanks.

    Best investment advice I ever received was from a retired banker and former right-hand to Armand Hammer. I was seeking very modest JV funding in return for half my startup. He told me: “Don’t give away your company. Go home, talk to your wife, mortgage your home and finance your own company.” We did, we paid off the mortgage and we owned 100% of the equity and 100% of the direction.

  57. Great episode as always Tim, I’ve been following Tony’s advice for years. I’d love if you could find a link to the breathing exercises he was talking about. I tried looking on his website and didn’t see anything.

    Also, I had an eye brow raise when he was talking about the Nickels and his friend. I may be mistaken so feel free anyone to correct me but I get the whole “penny hoarder” thing. The coins are worth more in material from a specific date, you hoard pennies of that time range and can sell them to collectors or melt them down for the copper which has a much higher cost than the actual penny. – for nickels, it costs 11.2 cents to MAKE a nickel, but the actual materials used is less than the marked coin of 5cents. It wouldn’t make sense to hoard any nickels, and even still you’d have to find someone who’d want to pay more than 5 cents per nickel if they did cost more material wise, (which they dont)

  58. Tim, thanks for the great interview! I was looking for something in the show notes about Tony’s breathing patterns that you mentioned would be here. Also, the link to Tony’s investment website strongholdfinancial.com which I couldn’t find in an internet search.

  59. Tim Tim, this has to be the best podcast around. I love Rogan, Chris, Aubrey, all those fellas that are out there killin’ it. But, these last few guests, excuse me these last 4 hours of your podcasts, have been more influential on my perspectives than the past twenty years of my life. I don’t like to tell people what to do with their lives but I’d definitely say this could be one of your many vocations.

    Thanks again for all this beautiful content you’re bringing to the world,

    Mickey

  60. Just a few minutes in and why am I not surprised that Mad Science results! Allow me to add my voice to those asking for a review of the cryotherapy experience. It sounds mental. Seriously, Silver Age superheroes used to gain powers by doing less.

  61. tony robbins mentioned something about ‘stronghold financial’ or something like that, but I cannot find the specific site. Do you mind posting to show notes or emailing me the link?

    Great show, especially this episode! Keep it up!

    Thanks,

    Ken

  62. Question on cryotherapy:

    The benefits and mechanisms seem to be the same as cold baths.

    But liquid nitrogen is used instead of water.

    Does this preclude the cold shock you can experience with cold water temperatures? Or is the sensation and effect just the same?

    We need an honest guinea pig.

    I just don’t trust Debbie Oz’ pokerface in the video:

    https://www.youtube.com/watch?v=XYj4YdNb-TU

    TIM: Is that the same Oz you taught tango lessons to? (in the video)

    1. Your body responds differently to 50°F water in an ice bath than to -250°F dry air in a cryosauna (300° difference). The central nervous system knows that the body cannot fight -250°F, so the body shunts blood to the core and releases chemicals that reduce inflammation and accelerate recovery. [Moderator: link removed]

  63. Best investment advice: The ROI on education is your entire net worth, never stop growing.

    I totally see how you felt “really? another book on money” but its such a good reminder not to get to comfortable with your level of education.

    Great podcast Tim, It’s awesome to see how your interviewing has evolved. I cant tell you how much my interviewing and questioning process has improved just by listening to the podcast (and 4 hour chef of course). I have to say one of my favorite questions that you just tweaked a bit is the ” 2-3 books to a group of 20 something entrepreneurs”. I’m 22 and a big reader, so I’m always looking forward to your book recommendations.

    If I could make one suggestion it would be to do a podcast with you as the interviewee, and have your questions turned around on you. I think a lot of us would love that. I certainly would. Plus, I’m dying to know who you think is punchable! =)

    Whenever you come out with a new podcast its a bit like Christmas for me (and Christmas is my favorite holiday). Always looking forward to more.

    Hope your lyme situation is improving, please keep us updated.

    Taylor

  64. First off, the podcast with Robbins was outstanding. Compliments to the chef.

    Next you inquired about “best investing advice”. Everyone in the audience had best step back. Put the women and children to bed. Prepare for the best advice ever given to an audience.

    The advice stems from a man who changed my life forever, to say his influence is great is an understatement. I consider him a dear friend and the uncle I never met. You may know him as Charlie Munger, Warren Buffet’s counterpart over at BH. Here’s the best advice you will ever entertain – EVER: Do whatever it takes to get your hands on $100k.

    “The first $100,000 is a bitch, but you gotta do it. I don’t care what you have to do—if it means walking everywhere and not eating anything that wasn’t purchased with a coupon, find a way to get your hands on $100,000. After that, you can ease off the gas a little bit.”

    You can’t bankroll passion, insight and critical knowledge without first coming to the table with suitable ends – by that – $100k. Can’t sit at the table if you ain’t bring nuttin to it.

    Now a $100k doesn’t guarantee shit, it’s a mere jumping off point – an initiation point. So, here’s the next piece of advice – and you can find a shit ton of this knowledge and advice on my blog, theidealstate.com:

    Become a life long learner – yet first, destroy/dissolve all you assume to know. Realize you are entirely full of shit and that you live in a assumed world of self-delusion and self-indulgence. Begin anew. Rebirth yourself into a new foundation. Build, Build, Build your Knowledge and Philosophical Cores with Quality, Richness and Depth. Build your foundation with attention and care, with a keen savvy eye. Begin to know thy self and the pitfalls that continually withdraw the self into the confusion of the lower-tier pursuits. Our own naturalness are the same mechanics that keep us pinned within the carnal, dopamatic-response feedback loop. It’s our own conditioned insecurities that keep us a slave to the Unconscious Master, overseer.

    Fear, Bias and Self-Indulgence are the three thieves that will steal your gold.

    Invest wisely. Invest in thy self – and in the meanwhile…….Grab that $100k.

  65. Tim, awesome interview. I feel more motivated and alive after listening than i have since reading 4 hour work week. Awesome questions and even better answers. Keep up the good work man.

  66. Exceptional episode. The best advice “Buy low, sell high” from my grandfather. “It’s not personal, it’s business” from The Godfather. “We get married to people, not investments, so don’t get emotionally attached to your stocks.” That one’s mine. It’s also the toughest to follow.

  67. Awesome! Thanks to both Tony and Tim.

    Best investment advice? “It’s not the winners that make you in this business. It’s the losers.”

    That and the advice from Tim a while back that was something like “You don’t have to make back losses in the same way you lost them.”

    1. Yeah i did not find the breathing exercise either…can you please share what it was TIm…Mahalo

      Mahalo again Tim for at least pointing us in the right direction for his breathing exercises…what program does he teach the one he specifically mentioned in your interview…you are a genius brother…thanks for your good work.

  68. Just found this podcast as a link from Tony Robbins on Twitter. So far I’ve loved all that I’ve listened to. Thanks Tim. But in this interview Tony mentioned a web site where you could go and enter your investment funds and it would do some comparison on fees and such to other alternatives. Anyone have a link to that?

    1. No, but I’d like it too. Can’t remember where he said it, but someone further down mentioned Stronghold Financial. Rings a bell, but don’t think it’s exactly that when putting into google!

  69. Tim..Epic Podcasts with Tony. Amazing content, I was on the edge of my seat listening while driving into NYC in traffic. Tony is such an inspiring figure.

    I have like everyone else seen his commercials(every 30 minutes since 1989!) over the years but I guess now(at 41) that I run a small business and have a family his products will be more useful to me. I am looking through his products to find the best place to start.

    Tim I have been inspired by you for years now and when I picked up the 4HWW that was the tipping point for me leaving my job to start my own business. So thank you for that.

    I run an offline contracting business and have always been curious to try and apply Tim’s mindset/principals to my business. I have implemented Tim’s productivity techniques with email and time management which stopped me from running around like a headless chicken.

    I am also building my business with the mindset of it running without me. It is tough with my type of business but I am developing ways to make it happen. I have a website but haven’t done much with it. I would like to implement online marketing techniques , SEO and branding to take it to the next level.

    I am curious if anyone else has brought an offline business online using Tim’s and others(Pat Flynn) techniques and seen decent results. I guess it is true in today’s world even for my type of business services, that most people start online.

    Thanks

    Sean

  70. Tim: Your interview methods are really growing on me. Superb interview with Tony Robbins – I’m fascinated by two things:

    1. That Tony Robbins was such a huge inspiration in your youth.

    2. [Please don’t take this the wrong way] You were extremely quiet for long periods during the interview while Tony was rolling. I was smiling – wish I could have seen the look on your face during those moments.

    Many Thanks!

    Tony

  71. Love the AM routine questions, please continue asking them! I wake up at 430AM each morning and most of my friends have endless jokes (well-meaning of course) about my 430AM self development routine.

    I went to a Peter Thiel book signing and my boyfriend and I asked him point blank what time he woke up and how long he slept…he was totally perplexed/weirded out by our question but told us “ehh 6AM, and I get about 6/7 hours of sleep” [ we where quickly shoved along the line after our weird question].

  72. One of the best interviews ever, what a guy, Tony seize his height, def a book to read, never been selled in such an awesome way. My best piece of advise is to invest in yourself cause you the most important asset, don’t lose time and give all you can at every moment.

  73. “Well hello there, my dear little munchkins” made me laugh out loud. 🙂

    Congratulations, Tim, you converted me to Tony Robbins.

  74. I was looking forward to listening to this podcast, but had to turn it off after 10 minutes listening to you on the left, and Tony on the right on my headphones. Was this intented? Please don’t do that again, I can’t listen to it like that, that was too weird.

  75. While it is hard to be an investor with a large pile of student loans and no income, I think the best advice I have ever gotten regarding investing is from your podcast and the guests featured. If I had to choose another instance it would be from my grandfather, who after 80 years working his ass off as a cardiologist and raising 8 kids he said essentially that he wished he had many small residues forms of steady income.

    Tim – I asked you in Charleston what your ambitions are today and what you hope to accomplish moving forward…

    I want to let you know that you are already doing that today…even if it might not be at the scale or scope you invision it.

  76. Just got turned on to your podcast last week and I couldn’t pull away for 8 hours straight. By the end of the day I’d added 7 lines to my read/watch list, 2 to my bucket list and recommended the show to half a dozen other mavens. The bucket list question might be an interesting query to add to your usual battery since most of your guest have already done so much. I’d love to know what’s on yours?

  77. This was a great interview! I listened to it over a few days while driving and often found myself unable to pry myself away from it. Good stuff!

  78. Tim, the release of this podcast was very memorable. I’ve bought all of your books to date and consumed numerous video interviews of you and I never cease to be amazed. I believe you are the best teacher to people who want to improve their new business or working patterns! Loving the new podcast. I’ve listened to all 38!

  79. I am asking this from the most respectful place possible. Because I’d be super excited if someone could answer this for me.

    As a skeptic, what would be the best way for me to learn that the stuff Tony Robbins does (ie. removing someone’s stuttering in 10 mins) is not complete BS?

  80. Just to be devils advocate, there is more to life than the pursuit of money! Or even the pursuit of happiness! I am aware all these billionaire investor types are interesting to people, but being addicted to money is still a disease of the spirit. Having a perfect life, getting what you want, being comfortable – it can get a bit toxic all this striving for possessing and attaining. Sorry but the yuppie thing gets a bit stale. is there ever much focus on living ethically and making sure your gains don’t come at the expense of someone elses? Being kind and generous about the only important things there are.

  81. I mean, Americans are raised to believe being rich, successful and fabulous are the keys to happiness. ”It’s your birthright” Tyler Durden was one of the few to burst that bubble. And look what happened to him. Meanwhile the class war still rages. We don’t need mega wealth. We need different values. And role models teaching our children simplicity, sacrifice, creativity, community – not ”spawn your empire and be a GOD” – are what count. We need more like Ghandi. I’m not saying Robbins is spiritually bankrupt but many of his famous clients most definitely are

  82. I loved this Podcast! Great job. I keep coming back to this post waiting for the update on his morning breathing technique. How long till it’s posted or you have a link to what he promised he’d post?

    Thanks for the Podcasts. They are Olympic Golds in the world of Podcasting.

  83. When I was reading post on heat being a possible new performance enhancing drug I thought to myself why does Tim (Ferriss) not mention cryotherapy? I figured out he just does not state the obvious 🙂

    Being Polish I can tell you this. In Poland cryotherapy is often prescribed by doctors (especially sport ones and geriatrics) and I know one a very good sports clinic which has its own cryotherapy facility. In fact, one of the first things they do is they make you go there ( of course not in every case) and then exercise.

    If you do not have access to cryotherapy however, consider another thing that Poles leaving at the seaside do, which is getting into the sea during the winter time. Check it out, you won’t regret it!

    IMPORTANT: do not this in rivers, you will die; warm up really well;

    have a protective footwear (e.g. aqua shoes) ;

    DO NOT get your head underneath the weather or let it get very wet, in fact you should wear a beanie;

    as soon you feel that your feet or legs are going numb, leave the water immediately, if you wait too long you won’t be able to get out of the water alone;

    DO NOT do this alone, always have someone at the shore who can help you.

  84. Tim, thanks for writing the times next to the podcast highlights. Super, super helpful!

    As for Question of the Day, I don’t usually read investment advice, so the best advice I ever got was “spend less than you earn.” Effective, though.

  85. Hey Tim, I really liked the interview with Tony Robbins. Amazing guy and a true force for good in this world. I have one very small complaint about the podcast that I did see had been mentioned before. When those of us who don’t hear with both ears encounter a stereo blog it’s a real pain. Imagine me riding on BART and listening to one of you talk, then pausing when the other one starts, switching ears with the earbud, then listening until that person is done, etc. Probably kind of funny to watch I would expect. I know that my issue is definitely not universal, but I thought it would be a good idea to speak up anyway. I get that people like to feel like they are actually in the room, but maybe you could make the stereo effect a bit less pronounced. Thanks for reading this far!

    1. Hey Nelson, not sure what your listening device is, but chances are good that it has an accessibility setting for “mono” listening. For example on iOS it’s under General > Accessibility > “Mono Audio.” My apologies if you’ve already explored this option.

  86. I don’t normally listen to podcasts because I can read faster than I can listen. Also, after watching a big name self-help author get knocked off his perch I decided (perhaps wrongly) that I wasn’t going to invest time on any others. As such, I was not familiar with his work before I listened. I particularly loved his story about meeting with the President! I have had those same thoughts and I’m glad someone had the guts to ask him.

    Did you get the impression during the interview whether Tony was bothered by the President’s snub after coaching Romney?

  87. Great podcast. I bet it was a fun (and intimidating) interview. I would be curious if Tim (and others) can recommend one of Tony’s books to start with, as I haven’t read anything of his.

  88. Hi. What was the name of the website Tony mentioned for working out your funds. I thought it was going to be added to the show notes but couldn’t see it.

    Thanks

  89. Amazing podcast with Tony!,

    Tony mentioned about the Indian meditation technique for priming the brain, I found that very interesting,

    Does anyone know any more details about it ?

  90. I think you are not an audio geek, but I would suggest not panning the audio near as hard as you did on this podcast. A bit panned to the right and left is nice, but this far out I found distracting in the car and in my ears.

    Otherwise thanks for a fascinating interview, among many.

  91. Great interviews with Tony Robbins! Found the info on cryotherapy intriguing.

    Tim you are so much like Tony in your drive to learn and master all kinds of knowledge and keep on learning. Also love your voice, great for podcasts.

  92. This podcast has literally blown my socks off. THANK YOU, GRACIAS, MERCI. You have both provided us with a public service for all. I will definitely be buying the book because I can’t wait to get a proper education in finance. Thank you Tim for the introduction to Tony Robbins!

    Dominique

  93. The best investment advice that I’ve received has come from a combo of the “Little Book of Common Sense Investing” by John C Bogle (Founder of Vanguard) and Ramit Sethi’s book. The book “Seeking Wisdom: From Darwin to Munger” provided a strong framework for picking individual stocks (focus on betting on strong management).

    My investment strategy is simple:

    1) Dollar cost average into the S&P 500 and REIT Index

    2) Control management fees by investing in Vanguard Index Funds (.05% MGT Fee)

    3) Set 20% of my portfolio aside as “play money” to invest in individual stocks. I was fortunate to place a bet on TSLA after the 2 car fires and I also placed a bet on AAPL prior to Carl Icahn stepping in. Both have worked out really well. However, Bogle’s book will show that the S&P500 is less risky than individual

    equities and he’d say that there was a large element of luck in my 2 picks.

    The above strategy has led to a 19% return on my investments over the past 3+ years.

    Keep in mind that asset allocation is important and I’ll be shifting around my bets at the end of the year based on the global economy. As of right now I feel really strong about REITs ability to outpace the S&P for the short to medium term.

    For those that want to dig deeper, this article provides data that proves the S&P500 is the best investment over the past 100 years.

    http://www.investorsfriend.com/Asset%20Allocation%20Real%20Growth%20Scenarios.htm

  94. I had a long drive and listened to both parts of the Tony Robbins interview. i enjoyed it the most of any podcast I’ve listened to in quite a while. A rising tide lifts all boats and I thought it was Tim’s best interview I’ve heard.

  95. Warren Buffett endorses the simple dollar cost average into some form of total stock market low cost index mutual as proffered by John Bogle in the “Little Book of Common Sense Investing.” I think it’s hard to argue with the Buffett/Bogle proposition. However, I think value investing icon, Joel Greenblatt, does a convincing bolt-on to this strategy in “The Big Secret for the Small Investor.” He analyzes and describes flaws in the architecture of standard index funds (namely random and self defeating weighting method) and points out more sensibly weighted variations of the index method.

  96. TIm, this is my first serious encounter with Tony Robbins. I previous knew him only from his “info”-mercials and assumed him to be a cross between Tony Little, Yanni, and Dr. Oz (ie a complete charlatan). You’ve peak my interest. If you had to recommend a single book or product by him, which would it be? (“Money” excluded please). Thanks!

  97. Hi Tim,

    Thanks for posting this interview. Very useful indeed. Is it possible to have a transcript of these audios. Tony speaks really fast and sometimes it is very difficult to follow.

  98. Hi Tim, It was a great podcast. Thank you. Sound quality could be better although. Pre-bought Tony’s book, and was trying to claim videos, but could not find TimVIP on Tony’s website. Could you please provide a link. Many thanks.

  99. Hi Tim. I really like your podcast. You talk with so many interesting people that we can all learn a lot from. I especially liked when you talked with Tony Robbins. I read a book of his (forgot which one) about 15 years ago and thought it was good but I never followed through with plans based on the book. Listening to Tony now got me interested again and I’m gonna get his finance book when it comes out as well.

    Thanks for taking the time and putting in the effort to create such an awesome podcast!

    jimgf

  100. Hi Tim. I really enjoy all your podcasts! You always have interesting guests and there are always good things to learn from them.

    I especially liked your talks with Tony Robbins. I read one of his books (forgot which one) over 15 years ago and thought it was good but never followed through with any of the suggestions in it.

    Hearing your conversation with him, and the Ultimate Edge mp3 you provided, got me interested in what Tony has to say again. I’m also gonna buy his new money book.

    So, thanks for putting in the time and effort to create these podcasts!

    They’re awesome!

    jimgf

  101. Tim,

    Love the podcast and the blog. Great interview with Tony Robbins. It will be interesting to see the details in the book. A couple items to consider for the tribe of Tim Ferriss:

    – Do your research before you invest your hard earned money in anything!

    – Here is the warning regarding Tony’s endorsement of the Ray Dalio all weather portfolio and Stronghold Financial. This is from the Stronghold Financial firm brochure with the SEC —-“Future Member of the Firm: While the Firm is principally owned by Ajay Gupta, it is anticipated that Tony Robbins and/or Josh Jenkins-Robbins will also become a member of the Firm. A conflict of interest exists to the extent that Tony Robbins recommends the services of the Firm or Stronghold Financial and will be entitled to receive distributions or other compensation relative to his future ownership interest in the Firm.”

    – This strategy is also called a “Risk Parity” strategy.

    – This strategy has benefited from falling interest rates since 1981. Interest rates are now at 2.3% on the 10 year bond not 10%.

    – See the Fortune article — “Ray Dalio’s ‘All-Weather’ fund goes cold”

    – Be very careful about investing in Hedge Funds.

    – Study Jack Bogle, Dimensional Funds (DFA), AQR and others for their low cost investing strategies. DFA and AQR have enhanced indexing strategies that target value companies, small cap companies, companies with high profit and companies with strong momentum.

    – If you hire an Advisor, it is important that you only hire a fee-only Advisor. Not a fee based Advisor or an Insurance Rep. The fee-only Advisor has a fiduciary duty to put the clients best interest first. The others are typically sales reps who sell you product you may or may not need.

    – If you are a do-it-yourself investor, use Vanguard… they are great.

    Good luck to all.

  102. The website that Tony mentions, Stronghold Financial, was formed September, 2014. Ajay Gupta has experience at UBS and Merrill Lynch, but is not a part of Hightower. The firm has no track record. They require that you transfer your account over, but do not provide detailed information about your relationship with them. You have NO discretion. They will hold your money for a long time and you have to just trust the team. Yes, it’s low fees, but it does require a leap of faith. I’m a bit skeptical at this point. There are a variety of services like Wealthfront who provide algorithmic discretionary services for low fees. I’d be curious to know the economic interest that Tony Robbins, Ajay Gupta, and Hightower have in Stronghold. It’s a great way to gather AUM, and at 0.75%, it pays better than most ETFs for the managers.

  103. Excellent podcast Tim !! I’m already looking forward to reading Tony’s new book. I read ‘Unlimited Power’ some 10 years ago and it totally chnaged my life.

    How did the cryotherapy go ? Did he end up ‘throwing you in there’ as he promised ?

  104. Awesome interview Tim. Looking forward to reading the book. Loving the bit on money mistakes. I’ve found with many that we mentor that they can make money. But they don’t have the skill sets to keep it. This should be a big help!

  105. I found that Obama story the epitome of what bothers me about Tony Robbins — he’s so arrogant. Did he really think he could coach Mitt Romney, the man who was trying to take Obama’s job from him, and then still have the opportunity to coach Obama as well? That’s insane. Robbins clearly over-values his own skills (and let’s face it, he probably should have spent MORE time coaching Romney).

    At the end of the day Robbins really is more about hype than quality. He has no coherent programs. I dare you to listen to his audio sessions. They inspire you, yes, but you walk away with so little to hold onto.

    Tim does a much, much better job of drilling down to the basic principles and giving real, practicable advice.

    1. I’ve been listening to Personal Power 2 and they give you clear exercises on how to change your habits. Its really good, I’m only 4 tracks in. I decided to check it out because Tim praised it during the podcast. Just my 2 cents Sarahd.

  106. Tim, in your podcast (great, GREAT interview by the way across the board), Tony mentioned if we turn in our Amazon receipt he will send 3 intro videos. Can’t find link or any info on this as stated. Is there an email to send to? thanks. Big fan,

    Corey

  107. [Question – How did you secure your guests for your podcasts]

    Hi Tim –

    I would love a ‘peek behind the curtains’ of how you go about lining up guests for your podcasts.

    And I mean this in terms of the specific process you follow: from how you decide on guests, how you approach them, how you follow up, how you phrase the value it would provide to your community for XYZ to come on, how you decided on the topics to discuss, etc.

    Specifically, I’m curious about how you convinced Tony to come on your show twice (not that I think it would have been too hard, given his obvious passion and commitment to help people), but I would like to know how you followed up from the first interview.

    Cheers

    Arv

  108. I was surprised that Tony uses so much foul language in his vocabulary. I remember listening to one of his inspirational cassette tapes back in the mid 1990’s, part of his lecture was about using powerful language and changing your vocabulary so that you use words that uplift and give you power.

  109. Loved, loved, LOVED this podcast! I’ve always admired Tony Robbins. Purchased Personal Power II and “Awaken The Giant Within” back in the day. I’m excited for his new money book, and the Obama story was the most surprising of all. It was refreshing to hear from someone with an actual critique about policy and execution, but still respecting and admiring the person of President Obama. Also, just hearing where Tony is now in his evolution and career was inspiring. I repurchased his Awaken book on Kindle (my hardback book is in storage right now) just so I can have it as I get myself going on my other projects. Good to know he’s still basically the same passionate, focused, giving, and motivated success coach out there.

  110. Do not recommend Stronghold Financial. If you look carefully, you’ll see that if you decided to join Stronghold and use them as your broker, you’ll be charged a 0.75% fee quarterly based on your assets (not clear if that means a 3% fee/yr or if that’s the annual fee) PLUS they may charge “custodial fees, brokerage commissions, transaction fees, charges imposed directly by a mutual, index or exchange traded fund, transfer taxes, and wire transfer and electronic fund fees.”

    Save your money. Go it on your own. VTI or straight to SPY.

    Love,

    Kuno

  111. Tim,

    First of all I feel sorry for your lyme disease and I pray for you to get that shit out of your body because we all need you here ! But I know you’ll hack that ;).

    Like many others, I’ve learned so much through your books, podcasts, interviews, articles, TV show, random shows and now in-between episode hehe.

    Now I have a request for that last one. Can you please talk about relationships ? Cause we all know this is everything in life. We are the average of the 5 people we spend the most time with.

    Books, blogs, podcasts, videos have changed my life for the best but still I miss this part.It kills me and yet I’ve read canergie + Keith ferrazzi.

    *How have you met those amazing polymath guys like Kevin Rose, Josh Waitzkin, A.J Jacobs, Peter diamondis, Tony robbins… ?

    *Anything in common to find them ?

    *Is SF the only place around ?

    *Who were your mentors in the past years ? Now ?

    *Which people are you following the most ?

    *Is blogging the best way to build a community ?

    and at least : *What activities or communities or events or places whatsoever would you recommand to find “Tim Ferriss” like-minded people ?” 🙂

    How to build a big network with an expert like Keith will be a great podcast but here it’s not about quantity, it’s about the 5 friends with whom you can talk about philosophy, finance, sports, new experiences, health, travels, books(…) just like you do on the random show. It must feel amazing I guess.

    Btw, PLEASE make an another video with Kevin just before or after 2015 to talk about your new resolutions, past experiences, books ect. It’s always a pleasure to watch !

    Cheers

  112. On the interview, which was great, you mentioned show notes which would have some info on Tony’s breathing practice. How can I get access to the show notes. Thanks.

  113. I used to teach and best thing to hear was the kids saying how the class affected them. So because of your podcast, I did my first Spartan Run and am half way through my cryo-chamber therapy (currently at -120 2min), so jealous you got that time with Tony, thank-you for the great material and books, all the best.

  114. Tim (or anyone else that can help), I’ve enjoyed your books and I’m a new fan. After listening to your podcast with Tony Robbins I was compelled to get his book on money. I’m several hours into the audiobook and I’m noticing that his advice is possibly contradictory to your book (4HWW) in some ways. Can you help clarify?

    I’m currently out of the public markets because I feel it’s a rigged system, it’s immoral, and it is a zero game system with winners and losers. Your answers of freedom seems to take the philosophy of entrepreneurship (which I adore) whereas Tony’s strategy is putting money into the stock market. The very same market that Tony was so angry about from the documentary (Inside Job), is the very same tactic again….”put more away”.

    Can you (and any other fans) help clarify? Thanks for all you do, I’m learning here.

  115. The odds are, you don’t know what the odds are.

    Some people believe man never walked on the moon and some believe man walked on the water. There will always be people who will believe all kinds of nonsense regardless of the proof.

    If you are an investor or want to invest in the market then you should read this. – Especially the 2nd part of this review titled “Risk and Return”

    Obviously Tony is an excellent motivator and has helped a lot of people to get better in every aspect of their life. I am a fan of Tony and his mentor Jim Rohn’s teachings on developing a value system. But I disagree with some of Tony’s mixed messages regarding investments in this book. Don’t get me wrong, there are a lot of good thing in this book that one can learn from. But he mixed good advise with bad advise. Result, readers will get confuse again.

    1) In this book Tony has repeatedly said that you are now an insider. That is a false claim. All the investment information he is talking about already available publicly online and in books. Listening to this, some time I thought, is Tony addressing the uneducated, ignorant people only or what? We all know what insider and public information is.

    2) On one hand, Tony correctly agrees with the French-Fama research work that *no one* can predict the market but then he turns around and tries to predict the market several times in the past. He was proven wrong. Please Google for Tony’s market prediction.

    3) Again, on one hand Tony correctly advised to invest in optimally covariance asset class, in globally diversified index fund, for the historical (30+ years) highest return for the historical (30+ years) lowest standard deviation, for the long haul then he turns around and talked about annuity, TIPS, structured notes etc. without warning against investing on these. A mixed message at the best..

    4) Most of his advice on how to save money is age-old advice. The book is full of very basic math on saving. No brainier there. Uneducated and less sophisticated people are not the one who will pick up Tony’s book or any book for that matter or any matter. Ha…ha….They don’t read books. Period.

    5) Tony recommended http://www.LifetimeIncome.com

    Take a look at this website. It is obvious, this website is created in a hurry just to meet volume of calls due to Tony’s books. I also talked to them. They do not have return vs. risk historical data over 30+ years period. Did Tony not know that before recommending it? BTW< their phone lines are always busy.

    6) The best investment currently available for 7.0% risk level (standard deviation) is about 8.8% over the past 50 years of historical data. How can one know if he is getting a better deal if he/she can't compare the alternative investment that Tony is recommending? Shame on Tony for implying to invest in unknown risk /return data. That's gambling. Why Shame on Tony? Because I expected better than that from Tony.

    7) You can find the best available return for each percentage of risk online. Then pick the percentage of standard deviation (risk) to match your personal situation and mental/emotional state.

    8) Even the motivation parts of the book is not new but it helps to hear it repeatedly. Again, I liked the general motivational part of the book very much.

    9) Tony is a fan of Ray Dalio. Of course, Ray is a smart guy, very rich guy and resourceful person. Ray Dalio calls his strategy an "All Season Strategy". This name correctly implies that some asset classes do well in one season and poorly in another season. Whereas, other asset classes do just the opposite. By mixing these asset classes one could lower their risk. However, Ray tries to give the impression that he knows something, has skill, knowledge, and has a crystal ball that you and I don't have, that can be used to get a better return. Therefore pay him and make him rich.

    10) French-Fama has already proven that no one is smart enough to consistently beat the market. No genius is required to get the best return for the same risk by investing in index funds with optimal risk-return value. Process is mechanical.

    11) Tony recommended Stronghold and Gupta Wealth Management (WM). Both are owned by the same person. I called Gupta Wealth Management. I gave them run for their money. First, I talked to Phil and then the owner of the Gupta WM. Their fee is lower than others but by no means is the lowest in the industry. Gupta WM charges 0.75% to 1.00%. I pay half of that for the same exact investment that Tony advised and Gupta offers. Why did Tony not research for the lowest cost of investment available before recommending Gupta?

    12) Was Tony doing a favor to his friend Gupta?

    13) I know that all the money from this book money will go to charity. But as Tony said, and I agree, that after certain income level, money is not the end. Power is. Tony doesn't need money anymore. He needs power. Doing a favor to a friend like Ajay Gupta, and others is one way to accumulate power. The question one has to ask, "Is if the favor Tony did to Ajay Gupta is fair and just?". Gupta is not the cheapest index investment in the market.

    14) Then Tony talks about asymmetrical risk. We all understand, that every now and then you might find a very good deal buying a car or house when the seller needs cash in an emergency to pay for his mom's surgery. Or you might get a similar but other form of asymmetrical advantage. For example, a company is in financial distress and you can jump in to take the advantage of it, buy it cheap. Big companies buy out a small company all the time who needs the money urgently. That is not for an average investor. Was Tony talking about this kind of anomaly? Of course, not. The context of his writing implies that there exists a persistent systematic asymmetrical advantage. But that is not true. When a new thing with a very high return with low risk (asymmetrical risk or value) comes out, very quickly, everyone jumps in. In a matter of minutes that asymmetrical value will be smoothed out. The market will come back to the norm.

    15) What is the market norm? The optimal return/risk value provided by value index fund over long historical data. Period.

    16) Of course, every now and then some gambler beats the norm. But smart people do not plan their life, their long term consistent strategy on luck, anomalies, angels or man walking on the water.

    17) Tony's book gives mixed messages as it is given in holy books such as the Qu'ran, Bible etc. In one chapter, the Qu'ran talks about being kind and forgiving. Then in the very next page it says to go kill the infidels. You can find similar contradictions in the Bible too. In one chapter Tony correctly advocated to invest in index funds then in next chapters he turns around and advises to buy into several different kinds of investment without knowing its risk / return graph of the past 30 to 50 years.

    Personal Story

    ============

    I am an average of the group who would read Tony's book or my this long review. I am a software architect, physicist, and self-proclaimed philosopher. During 1998 to 2000, sitting in my home office, using 3 computers, I was trading with E-Trade, Charles Schwab, Fidelity, almost on daily basis. I saw all the dot com stocks going up. Along with millions of people in the US and around the world I thought, I am genius. I am invincible. I was making hundreds of thousands of dollars a week of my personal money – but only on the computer screen.

    Those graphs on my monitor, those phosphorus dots on the screen, had the power to change my mood, my happiness, my sadness. It totally absorbed me, my emotion, and my world. Then the bust came. Dot com burst.

    I lost most of my wife's and my net worth in the dot com burst. I used to get up in the middle of night, sob and cry I did not know what to do. This went on for months.

    After losing my shirt and pants in the year 2000 dot com bust I learned to invest correctly. It took me the following 6 months to learn these stuff. Since then I invest only in "Globally Diversified, Optimally Co-Varianced, Multiple Value-Index-Funds" for the last 14 years. I pay tiny amount to the trader/manager. It has served me well. I also sleep well at night. Instead of tying myself to daily, weekly, quarterly or even yearly market fluctuation. I now enjoy my work, the real life with friends and family, travel around the world while my money work for me 24 hours/day, 365 days/year with predefined standard deviation and return. I was laughing at 2008 market crash while still invested in the market.

    Most of my friends left the market for good. They never trust the market again. They invested in real estate or somewhere else. I thought, after losing so much money if I do not learn the stock market then all these loss is in vain. I must learn and conquer it. So I started my journey.

    14 years ago, over 6 months, several hours/week, debate/discussion with a very smart money manager, a nuclear physicist by education, I eventually learned. In connection to stock market investment we discussed everything under the sun, from quantum mechanics uncertainty principle to determinism, From free will to passion versus rationality, from luck to intelligence, from behavioral economics to evolution theory. We discussed these over the long distance phone calls. This went on over 6 months. After reading stack of books over two feet high, digesting the content and pondering over it weeks after week, I asked my money manager, as a compliment, the following question.

    When are you going to send me a certificate of graduation from your Institute so that I can tear my Harvard Business School degree in finance and flush it in the toilet?

    [No, I don't have a degree from Harvard.]

    People ask, can you still lose money in the market?

    My Answer: Yes, I can. But before you see a single drop of tear in my eyes again due to my stock market losses you will hear in the CNN and Fox news thousands of people are committing suicide left and right and there is a big riot on the street.

    Here is the summary for the investment chapters of entire books. If you are college graduate and have average IQ you will understand this.

    Risk and Return

    =============

    Well proven facts you can Google and find the sources on your own.

    1) Some people believe Man never walked on the moon and some believe man walked on the water. There will always be people who will believe all kinds of nonsense regardless of the proof.

    2) No one, no one, in the world could ever predict the market consistently

    You can say the same thing in another way: No one, no one, in the world can time the market

    3) Each investment (stock, fund, bond, real estate) has objectively measurable, quantifiable, numerical Risk and return values. These information are publicly available. We have the data since the Dutch Tulip mania to date.

    4) The longer the duration over which you measure average return and average risk (standard deviation) std, the more is its reliability This risk of an investment is nothing but the measure of the fluctuation of return over time. There is a very specific statistical formula for it. You can Google for the formula of standard deviation.

    b. But for layman, you can view risk as follows:

    c. In the stock market or fund investment one could stay rich for x number of days and then stay poor for the next y number days, then again stay rich for the next z number of days, and poor again, etc. The measure of how often and how long you stayed rich and poor at what level is the standard deviation. This is what risk is. Risk is also called Beta. Ideally you want to stay rich all the time – std. = 0. Risk adjusted return is called Greek letter a, alpha.

    5) A portfolio that has higher return will have higher risk. But just because a portfolio has higher risk doesn't necessarily mean has higher return. Because, there exist unrewarded risk in the real world.

    6) Therefore, to get a higher return you must take higher risk but not the unrewarded risk. But remember, never take higher than the risk you can handle. More about personal risk capacity later.

    7) You do not invest on the basis of IBM is going to come out with new technology or hired a top notch CEO etc. therefore, let's buy IBM stocks. But you invest looking at the historical risk vs. return of IBM stock. Again, history is the only thing that counts in investment. You may hope a better future. But your hope must be based on the past history of the stock, fund, or portfolio – regardless of what you invest in.

    8) If you do not have the data then do not invest. Otherwise, you are gambling. Tony is not consistent in his explanation and teaching. At the best he gave a mixed message. He omitted the danger of lack of data of his proposed alternative investments.

    9) You must invest for the very long haul, 20 to 50 years.

    10) How to enter or exit the market?

    Do dollar cost averaging. This means don't put all of your money in the market at once. Do not take all of your money out of the market at once. Instead put smaller amounts every month or quarter.

    11) Although, you must take the highest possible risk that you can afford to get the biggest return. In other words, never take more risk than your "risk budget". This is also called your "risk capacity"

    12) Unlike the risk (std.) of a portfolio, your risk level is neither objective nor quantifiable. Your risk level depends upon how old you are, your educational level, number of children you have, your health, etc.

    13) Secondly, but very important part of your risk level is purely psychological. How do you cope with ups and downs of the market? This is almost impossible to quantify. Alas, we have to use this unquantifiable risk against the quantifiable risk (standard deviation or Beta) of the investment.

    14) When you invest, you invest using two things, 1) money 2) your risk balance. If you run out of any of these two then you can no longer invest.

    15) The most difficult part is to know when you run out of your very subjective-non-quantifiable, risk budget while consuming quantifiable risk of a particular investment. Subjective vs. Objective. There is no way out of this dilemma. That's is where money managers take advantage of you.

    16) There exist dozens of value index funds. Vanguard and DFA are the most popular companies who package the index funds. I use DFA funds. Investing different percentages of your total cash into various index funds is called asset allocation. This will produce a net "risk versus return" graph for your overall portfolio. Different asset allocations generally give you different risk vs. return graphs.

    17) Different money managers can produce the same risk and return with different combinations of asset allocations. A simple computer program can optimize the risk / return. No human brain is required. No experts, no experience, or money manager is needed. That is why it doesn't make sense to pay a high fee for this kind of investment. Interestingly, most importantly no other form of investment produces more return for the same risk.

    18) Coming up with an asset allocation that produces a better return for any given risk requires no human intelligence. The process is mechanical. A computer will try out various combinations of asset allocation, mix and match and produce a better result than before. It is not a product of a money manager's genius. One doesn't have to be a financial guru to do this. Software does. Money manager cannot do this. It requires trial and error by the computer, an iterative method, a dumb process as dumb as genetic evolution.

    19) If you need a financial guru to pick a winning stock (or a winning lottery number) then hire a money manager. A computer cannot pick a winning stock any more than a winning lottery number. But a computer can find a better return-risk asset allocation by iterative trial of various asset allocations.

    20) So how do money managers still keep their jobs?

    d. Answer: By miss-representation or outright deception. Overwhelming majority of the managers either do not know about Globally Diversified, Optimally Co-Varianced, Multiple Value-Index-Funds returns best risk-return or do not believe it does. Among those who knows and believe in it won't tell you because then they lose their high fees.

    21) Money managers play with the subjective part of your risk budget. Since your risk budget is subjective you can't prove them wrong. As prophets fools their disciples by claiming supernatural powers.

    22) Lesson: Ask them to show you their best asset allocation to produce highest return for the std. of 1%, 2%….x%. Compare the return of your Money Manager with other Money Manager for the same risk level. This will be independent of the investor. You should shop for the best return for each standard deviation. Then, you should pick the one that matches your risk level and gives you the highest return. You can't go wrong by this method.

    23) Here is the list of all DFA funds

    e. http://quicktake.morningstar.com/fundfamily/dimensional-fund-advisors/0C00004AKC/fund-list.aspx (link as of Nov 2014)

    f. You can find the Vanguard index fund at http://www.vanguard.com

    24) Again, the trick the money managers will play by saying, "We will find a best match for YOU."

    g. Your response should be, don't worry about me. Just show me your best product for each risk level. Then compare that with portfolios offered based on value index funds by other money managers. Remember, no one, no one, will care about your money more than you can. Self-reliance is the key. Consult the expert but YOU must make the decision rationally.

    25) I say, I do not care, what your asset allocation is, I do not care if the investment is about selling thin air or if the investment is in a business that sells houses in the heaven that one would get after they die, just show me a simple X-Y axis graph of return versus risk over the past 30 to 50 years. Then I can make my decision.

    26) Have you noticed, overwhelming majority of the mutual funds do not have more than 20 years of data? Why? To cover up, to hide the incompetency of their investment, or asset allocation. They sell hope, more accurately, false hope.

    27) Let me help you to understand.

    One of my friend who has finance degree from one of the top notch university and practicing investment advises his friends to buy Google stocks because it is a good company. I say, Stupid, stupid, stupid. Ask yourself, Is it a public information that Google is a good company or only you know it?

    If it is a public information then Google stock price already have adjusted to its proper value. You are not going to get any special value by this piece of information for any specific stock. That is why you need to invest in the massive number of stocks, indexing and preferably value indexing.

    Did you know that old boring business like Walgreen produced more return for its investors than the famous, exciting company like Intel over its life time? Ha…ha….

    [Moderator: Email address removed.]

  116. Great Interview with Tony… I listened to the whole thing & considering it was 2 hours long, it flew by! One question: I am in the UK and the UK Amazon reviews generally say that this book is only helpful for the U.S. markets & tax system. Does anybody have any feedback from a UK perspective?

  117. [Question] – Morning rituals

    So for those of us who don’t live near hot springs, how can we shock our nervous system first thing in the morning? A hot shower followed by a cold shower?

  118. The clip breakdown(show notes) is awesome, ive not seen that before. Tim your legend, Anthony Robbins inspired me from a young age. Great podcast, Thank you both

  119. Love the fact it took me exactly 4 hours to listen to this powerful sit down (I’m a slow listener). Two sages in a room and it’s recorded. Tony’s willingness to serve and share remains legendary. Tim’s questions aligned with what I would ask Tony if I ever had the courage to sit across from him. This interview is one for the ages — bookmarked, saved and to be referred to over and over. It’s not about money, it’s about living.

  120. I know this is almost two months old, but the best investment advice is in line with Tony’s about minimizing your spending. Mr. Money Mustache just blew my mind. Really hammers home the concept of the positive impact of decreasing your spending. This is a two-fold event that increases your savings and decreases what you need in retirement. So neat.

  121. Excellent stuffs here!

    My investment lessons comes from Robert Kiyosaki who believe that assets are what brings you money and liabilities take money away from the purse.

    Its also said that when an investment opportunity looks too good to be true, then its not true!

    Keep up the good work Tim!

    Roland

  122. Tim, thank you for sharing your history with Tony Robbins. Another reminder on the small and interconnected nature of the business world.

    Best piece of investment advice:

    “Pay yourself first” (i.e. save money for investing FIRST before spending money on anything else). I know this is basic but I didn’t understand this in my early 20s. I’d spend money and then “save” whatever was left. Classic novice error. I now set an investment target in dollar terms and automate most of it.

    Assuming you have the above rule fully implemented, I would agree with Robbins on the importance of asset allocation. It is a decision you can make once and then monitor (10 minutes per month is more than enough).

  123. Hey Tim, firstly – thank you for finding your way to Tony and allowing us all the privilege to hear both of you bounce ideas in living a more enriching life. Secondly, I’m currently only my USA book/speaking tour and have done 18 events in 4 weeks through 15+ different cities! Now in San Fran for the next 4 weeks. I’ve referenced you and Tony on the back of my book and just want to personally say that I could not have been so quick to take action without you and Tony’s monitorship. We have never met (I’m from Sydney, Australia) and at 28 I feel that my life has become so much more profound because of the paths you have both paved. I am deeply grateful. If ever you’d like to get in touch, I’d love to say thanks briefly, properly. However I know you’re incredibly busy and am just one other person in the ocean of many fans who have been positively effected by your journey.

  124. Hey Tim, firstly – thank you for finding your way to Tony and allowing us all the privilege to hear both of you bounce ideas in living a more enriching life. Secondly, I’m currently only my USA book/speaking tour and have done 18 events in 4 weeks through 15+ different cities! Now in San Fran for the next 4 weeks. I’ve referenced you and Tony on the back of my book and just want to personally say that I could not have been so quick to take action without you and Tony’s monitorship. We have never met (I’m from Sydney, Australia) and at 28 I feel that my life has become so much more profound because of the paths you have both paved. I am deeply grateful. If ever you’d like to get in touch, I’d love to say thanks briefly, properly. However I know you’re incredibly busy and am just one other person in the ocean of many fans who have been positively effected by your journey. -Ram Castillo

  125. Hi Tim,

    You’ve done it again – exceeded my expectations and added so much value to my life!

    I am a huge fan of your work and I love your podcast, and I want to let you know that your interview with Tony Robbins was absolutely amazing! Everytime I listen to it it gets me so pumped that even thinking about it now changes my physiology in an instant. It has opened so many doors to my personal development that is is crazy to think I never paid much attention to ‘The Legend’ and his teachings. Tony may not like to hear this, but I was of the opinion that he was a quick fix motivator – how utterly wrong I was. I am now singing his praises to anyone who’ll listen. Thanks again Tim, for properly introducing me to Tony’s work.

    Thank you so much also for being such a crazy self experimenter, passionist learner, teacher and powerful example of the human potential! I look forward to meeting you in person one day my man.

    Peace & Love,

    B.

  126. Hi Tim, just starting to check out your podcasts. (Know and love your books.) Six minutes into TR interview and it still hasn’t actually started yet… this is frustrating. I’d prefer very short intros and just get rolling with the content. Maybe 45-50 seconds max, including plugs would be much better. Very de-motivating for someone who’s busy and trying to maximize time. Thanks.

  127. Tim, when would the person benefit the most from cryotherapy- when he already dialed in the diet, stopped drinking for some time, etc, so that way the immune system is already performing well…. OR do this first to shock the system and then dial in the other parts after this? Also, what is minimum effective dose in terms of times one should do it?

  128. I absolutely loved this episode with Tony Robbins. I also enjoyed the photo’s a saw circulating with Tony palming your face. I guess I never realized he was that big. I want to try one of those Cryotherapy machines you guys talked about.

  129. Tim, it’s been a few months since this podcast and I too am making my way through Robbins’ book. It’s really quite good and makes sense to someone (me!) who really gets confused with financial matters. For those who say Robbins takes ages getting to the point, I counter that people like me need that!

    However, I want to know if since reading the book you’ve changed your investment strategy to reflect Robbins’ advice? (Yes, you note you made a quick fix that saved you thousands, but did you do more?)

    I you have followed it to the T, I’d like to know, or if you’ve tweaked the formula, I’d like to know too!

  130. Just a correction on your blog… Warren Buffett’s last name has 2 t’s, not 1 🙂

    About to listen to the podcast. Interested to see how it plays out.

    Cheers!

  131. What I appreciated about this was that it didn’t sound like every other Tony Robbins interview I’ve heard lately. Would be great for another episode with him in the future on other topics besides his new book. One of my favorite series of his was Power Talk where he interviews super successful people.

  132. I bought and read Tony’s book after reading this podcast. It is enlightening, even if you’re outside of the US (some parts are extremely US centric, like the 401k retirement plans, etc.)

    The best investment advice ever is that you can’t time the market as an individual investor. If you try, you’ll get crazy. At best, what you can do is buy more when the market is down and buy less or sell a little when the market is up. Other than that you should have a fixed schedule of investing, no matter what the market conditions are at a particular time.

  133. Tim, did you further look into the cryotherapy or cryosauna? If so, what do you think and would you a recommend a time of day to do it?

  134. After listening to this podcast, I am torn. On one hand, Tony is clearly an accomplished guy, proved by the company he keeps. I can’t get passed this feeling that Tony makes me a bit uncomfortable or skeptical…I’m not sure if I’m building it up in my head but he seems like too much of a salesman or something.

  135. Fantastic Interview Tim. Tony speaks so fast I had to listen twice! Once before I bought his book, once after. His book is fantastic and profound and I’ve come away brimming with ideas BUT though the book is for sale here in the UK, it’s really difficult to implement his suggestions – Fiduciaries/401k’s/Roth IRA’s – we have none of this in the UK. Using his suggested asset allocations in a tax efficient way becomes a lot trickier as so much deciphering/translating has to occur). He also has fantastic online comparison tools and financial companies available for readers, none of which work in the UK either. Has anyone seen a forum for the book where there may be answers to points like these? Thanks…

  136. It’s more of a question. Who is the plastic surgeon that tony robbins mentions in part two. There is no reference of him in the notes or in The people mentioned.

  137. Hi Tim, thank you for your podcasts. I just a few reviews on amazon about Tony and his new book, not everyone is praising him like they do in comments below. All I am saying is that we need to question everything and take all with a grain of salt.

  138. Thank you for the podcasts, they have been very inspiring. I only want to say that I was looking on amazon for Tony’s book and came across several reviews, (one really long one), that didn’t praise this latest book but mentioned it being 600+ pages of filler, with very little meat in there. With most things being a way to promote Tony’s companies and seminars. Listing to your other podcasts, (the one with the creator or wordpress) you mention that a coaches goal should never be someone that will work to keep the customer coming back, but instead giving them the tools to stand on their own. Yet, with all I heard about Tony, it doesn’t seem like the case at all. He also talks about saving money with not drinking that latte, his book has no bibliography, etc. And lots of name dropping, that I think we can all do with out. And seems like that according to Forbes, Tony is making most of his money from his seminars and not his investment strategies. At least initially. Anyhow, I feel a little disappointed in you. Quality above Quantity. Aloha.

  139. Hi Tim great podcast both in questions and answers,

    Doesn’t the breath walking technique and other mind altering rituals, apart from simple gratitude meditation, seem to reflect the eastern yoga practices (specifically Kundalini awakening)? These types of breathing techniques in yoga often invoke and draw in spirit entities into your life. Does Tony actually do or has he derived his breathing exercises from these esoteric yogic practices?

  140. Very inspiring episode. After finishing your podcast, I immediately picked up Tony’s book. Personally I am very interested in morning routines and the benefits it has during the rest of the day.

    Keep up all the good work Tim, been a huge fan ever since I got my hands on a copy of Four Hour Work Week.

    Cheers,

  141. Great podcast and interview with Tony Robbins. Tony Robbins is such an inspiration and after hearing your interview I immediately picked up his book. There is a lot of good stuff in your podcast and I especially like how he organises his morning rituals.

    The cold therapy is actually a perfect way to reset your body and create more brown cells that will strengthen your overall body and health. A great advocate on this topic is Wim Hof, also known as the ice man. Look it up you won’t be disappointed!

    Keep em coming Tim, great work as always!

  142. I have to saw I really appreciate how the audio comes through on the Headphones it is like I am in between both of you while you are having this conversation. Really cool to just close you eyes and enjoy. 3D Audio love it.

  143. Hey Tim!

    Great episode and thank you for sharing.

    The best investment advice i received would be to always know when to get out when you are wrong!

    By holding and praying is a recipe for disaster.

    Rayner

  144. great interview! just ordered the book. Do not see the breathing ritual in notes though and would really like to mimic that since I can not sit still either. Also no luck looking for that on Tony’s site. Thanks!

  145. Tim,

    I wanted to reach out to you and thank you for all the amazing things you do and share with your audience. You’re work has CHANGED my life in so many GREAT ways. I toured Europe while consulting in 2004 thanks to your first book.

    After many years re-introduced to your work through this episode of your pod cast. I’ve now been listened to a rediculous number of your podcasts and with your help it’s changed my life.

    I’ve now found myself focused on studying success and it’s changed/ing my life! I went from watching to doing – I’ve joined a startup in the SEO field and absolutely everything is falling together for me.

    So thank you for everything you do and keep up the amazing work! I’ll be in touch again one day… I want to change the world on a mass scale using the internet… and we’re building a team over here to take on that challenge.

    All my best to a true gentleman & scholar.

    Andrew Hazelton

  146. Tim if you can get John Grinder (father of NLP and mentor of Tony Robins) on your podcast that would be the ultimate interview of mind decoding and meta pattern on modeling the excellence. Please do. Since you are one of the few can convice him

  147. I study economics and it seems we only focus on small things. What are the first steps I can take to try to understand the whole picture? What would a 19 year old Ray Dalio do or read?

  148. Finally got over my resistance and am glad to say i appreciate tony more now. I think the concepts in his former books lock into certain culture/psyches much better than others. North American psyches love the whole ‘ you can do it ‘ thing, others less so. I have personally known sensitive, vulnerable creative people to build up a really arrogant persona cos they read tonys books and thought they had to exude courage, charisma, leadership, wealth etc in every word and action – or to get people to like them. And i was really pleased to hear Tony being so generous and down to earth, even the swearing was refreshingly real, he seems really sincere. I am grateful for sering through my misconceptions 😉 few comments-I don’t know what happened with Nixon but money actually went off the gold standard in 1932/1933, thats when it became fiat (debt currency) and the gangsters (bankers) privatised the federal reserve. The motivation vs strategy comments were GOLD Tim and Tony thankyou very much. Nicholas Talebs Anti Fragile is essential reading for anyone wanting to get into the market, ( sort of expected him to be mentioned ) i know hes a hero and friend of yours Tim. It’s a work of STAGGERING intelligence. I couldn’t believe someone could have such insights. I was pleased to hear Tony keep saying how generous the master players were. I have the following beliefs – the market runs on fear and greed ; wealth comes via major exploitation of the underdog ; beyond a certain point people are simply addicted to money, it doesnt bring them any more happiness but in fact often more misery. I do myself live a mega frugal simple asthetic life . Are these misconceptions? I am willing to be proven wrong, can’t wait to read Tonys book 🙂 by the way Tim did you hint there were more episodes with Tony-sounded that way- would love to hear him discuss his coaching psychology more next time- also more about his doubts, vulnerabilites, fears etc – very helpful. He took on the president! What a guy, loved that 🙂

  149. PS is it possible keep competitions seperate from the comments? The Arnie one had over 500 comments, but almost all were people talking about how well they marketed the podcast etc, i had to wade through all that. Quality interviews, quality shownotes, quality comments section – but then the all the self promotion for competition really lowers the bar quite a bit. But thankyou 🙂 very generous Tim

  150. i extend my sincere gratitude to Tony of what the role he played. he is one of my first role model in the world.

  151. Hey Tim, I really loved this interview, I am a big fan of both you and Tony. I had a hard time with the audio quality on this one, so I have cleaned it up for you and fixed the panning issue. If you would like me to send you the file, just let me know. You’re a real inspiration mate.

  152. Jim: Tim, I enjoyed your episode featuring Tony Robbins so very much. Also, the episode with Tony and Peter Diamandis. Your podcasts help make my commute (3-5 hours / day) a bit more tolerable. The above mentioned episodes were incredibly inspiring, motivating, and thought provoking. I have a colleague who also has a long commute, so I think with me sharing what gets me so amped up / excited about possibilities from your podcasts, he will also become a Tim Ferriss podcast fan. Thank you very much for the incredible folks you are finding to interview.

  153. Tim, I wonder if you’re still endorsing “Money: Master the Game” even after it finally came out? The book was a complete joke on Tony’s part (90% fluff, hype, marketing and promoting his partner organisations) and I was highly disappointed for two reasons: (1) It’s Tony, (2) You’ve created such a hype about it in your newsletter and podcast that I HAD to read it as soon as it came out. What a let-down! The price of the book is not a big loss to bear, but the loss of trust in people who so far have delivered value – irreplaceable. I guess in the digital marketing era where everyone’s just promoting products they get a cut from you can’t really trust anyone… Don’t mean to rant, just genuinely disheartened by the book’s empty content and your review of it 🙁

  154. Thanks, Tim

    Great interview – will definitely pick up a copy of the book. Also piqued my interest in chryotherapy – planning to give that a try soon.

    1. Hey Tim — any plans to compare and contrast Ray Dalio’s “All Seasons” strategy with the approach by Wealthfront? Very curious about your thoughts on that.

  155. I enjoyed this podcast. I had never heard Tony Robbins speak before, and he certainly is powerful. And Tim you most often impress me in what you do/who you are. I did have one concern listening to the long rap on the whole financial thing. Bear in mind that I haven’t read Robbins’ book and so am just going off what I’ve heard.

    From the sounds of it, both Robbins and yourself Tim are quite aware that certain people have a lot of clout in the financial markets, and that those people can and regularly do rig the system to their gain through methods X, Y, or Z. In the case of this podcast, deception comes to mind as one method, which I think was framed as “marketing” (something along the lines of, “the $11 trillion secret: It’s called marketing”). And so yes it is the ethical scope of the whole thing that rankles me.

    But further, what I gather is that Robbins’ book was written for the common person, the lower, average, middle income, know-little-about-the-market, guy, and was written with good intent–to help that guy (or gal) find a bit of the pie. I just think it is an interesting approach to take, writing a book about how to succeed or participate in the giant casino stock market when another financial crisis is not just likely, but almost certain to come in the range of visible future. I recall you discussing with someone on some show, I think it was with Joe Rogan, about your lack of trust in the integrity of the whole financial/economic scheme in place. You were talking about collapse crisis scenarios and said you had a a bunch of gasoline in your home to use for a back-up generator, and mentioned something about a shot-gun, if I remember.

    I experience some cognitive friction in entertaining these different schemes. 1) Going to the masters of the shell game, the great white sharks, and asking them for advice for the little guy: An approach that does not address the ethicality of the entire system in place which allows a few, through whatever degree of cunning and hard work (it does not matter) gain so much at the expensive of so many, but rather aims to help the disadvantaged play the corrupt game, is not an ideal solution to the very serious problems of our time. 2) Entertaining this whole conversation without at least mention of the very serious problems of our time, and how lacking in stability and integrity is this financial circus, seems to be an important oversight.

  156. Tony Robbins is amazing, helpful, and super to many.

    Except, for some reason,

    when I listen to him, I am thrown

    into a pit of despair for a few days.

    It would be lovely if this did not happen.

    When listening to you, Tim,

    I feel like I can do anything

    and then proceed to easily

    make changes and accomplishments.

    Currently at the 83rd day streak learning

    Spanish in Duolingo,

    thanks to your recommendation,

    along with other marvels.

    The attempt was made to listen to this,

    because you are there too,

    but, the despair pit still got me for a few days.

    Luckily you have other podcasts

    to throw me a log.

    Have you ever heard of such a thing?

    Have you experienced that with certain people?

    Thank You Terrific Tim.

  157. I’ve always thought of Tony Robbins are someone who teaches people how to go from the proverbial ‘mailroom’ to reaching their highest potential. I should read this book but there is one thing holding me back; the desire to learn from someone else, how to dig deep inside of myself and tap into what I need to in order to change. His methods apply to all. Is it really that simple? We are all unique and have different triggers, different desires. I could listen to him for a few hours and not be bored. I might even go as far as to say I’m inspired, but ultimately, I need to be the one to make it happen. Much of what he talks about is positive energy, and key to creating the mindset that drives success, but what’s in the ignition is what I want to know. Where does it all start?

  158. Awesome stuff! Love Tony and love Tim!! to have the two of them together was just great listening will be keeping this one to listen to more often! I do have one question though are there any cryotherapy places in Newcastle Australia? I have had a brief look and could only find one which was similar to ice bath treatments.

    Many thanks keep up the Great stuff Tim!

    Cheers

  159. if Anthony is blaming Obama for the failure of the Simpson Bowles plan that only shows he doesn’t really know the background about how it fell apart. The Republicans had initially supported the idea of a bipartisan deficit commission, where their plan would get an up or down vote within congress… until Obama agreed and publicly supported the idea. As soon as he did that the Republicans dropped all support for it, refusing to vote for the bill that would guarantee it would get an up or down vote. Regardless, Obama moved forward with the simpson-bowles plan, giving them his backing. They proposed closing the deficit gap with 70% from spending and 30% from tax increases. Meanwhile the republican candidates of 2012 refused to accept a ratio of 10 dollars in spending reduction for every 1 dollar in taxes. It’s pretty clear which party wasn’t willing to compromise, and I’m glad Obama didn’t completely fold to their obstruction.

  160. Great podcast; one correction though. Bruce Lee got the one inch punch from his Wing Chun training, not from that Aikido instructor that Robbins mentions. Wing Chun was Bruce Lee’s primary art until we began to develop Jeet Kune Do.

  161. I noticed the comment about it is impossible to beat the market.. I have to respectfully disagree. There are many good funds that beat the “market” significantly overtime.. Said funds tend to limit huge drawdowns in down years and only have to participate modestly in up markets to match or outperform. Investors spend too much time worrying about not missing the 10 best days and completely ignore the 10 worst days, which actually have more of an impact on wealth than the best days They especially ignore what happens when you avoid the 10 best and worst days…

  162. I love what Tony Robbins is doing and has done. I consider him absolutely more than a motivational coach. I have read his books and they have changed my life! I am writing a book which I was afraid to do before. I am greatful to Tony and consider him a mentor in my life. Thank you Tim for this podcast. You are inspiring! Keep up the good work!

  163. The 70 30 rule is probably the best advise I have gotten on investing, especially if starting as a young investor. Use 10% to pay off debts, use 10% to give as a tithe and the last 10% invest for your retirement. Only buy low cost index funds wit 25% in large growth, 25 % large value, 25% small cap and 25% in international fund. But build a emergency fund of at least 6 months before you begin anything and with these times we live in I believe 9 months is even better.

  164. Tim — it’s very interesting to see your energy and interest float at different levels in your interviews, but you rode a different wave with Tony Robbins. I was skeptical, having read his books so many years ago — but I was blown away. You were cruising in your element discussing a subject you were so excited about. I’m a graphic designer, with horrible money management history, and am buying this book today. I’m always updating, upgrading in a variety of other areas and I know zero about investing but I am SO charged up to begin. Thanks Tim — great job!!

  165. Tim Ferriss champions Wealthfront and Tony Robbins espouses that people should mimic Ray Dalio’s All Weather Portfolio in his book “Mastering the Game.” Tim and Tony seem to collaborate. Wouldn’t it be great if Tim, Tony and Ray got together and created a Ray Dalio All Weather Portfolio option within the Wealthfront platform! How can we as fans of Tim, Tony and Ray encourage these impressive individuals to collaborate on an automated investment solution that combines Tony’s advice and Ray’s portfolio acumen with Tim’s product?!?!

  166. Hi there, des anyone know who the surgeon Tony Robbind mentions as one of his clients is?

    He mentions the 2mm rules applied to beauty around the 35th minute of the podcast and I found the surgeon’s theories fascinating.

    Any ideas what his name is?

  167. My wife has some serious carsickness. Get’s it instantly and pretty serious. Does anyone have information where/with whom Tony cured the flying sickness of his wife?

  168. Tim, Please please PLEASE give us the case study of BrainQuicken. ive been searching for months for some thing or anything related to YOUR own MUSE but no luck. It would make my entire Year if you gave me at least 2 pieces of info :

    1.When and how you went into retail with Brainquicken and

    2. what were your top 2 most profitable marketing methods for BrainQuicken?.

    if you dont read this or have 0 time no worries you r still my hero bro! …show goes on and its a pleasure watching yours 🙂

    thanks in advance for your help and all the help so far.

  169. Trying to track down a list of all the money books recommended by Tim and his guests since this site’s/project’s inception. If this has already been done please let me know (if not, feature request); I’ve looked high and low. Plus it would be difficult to listen to every episode all over again (and remember to take notes).

  170. “Buy and sell near support or resistance levels.

    This answer from a friend, I will call him MKU.

    I posted this to see what others think.

  171. Hi Tim,

    Love your work. I listened to this podcast a few times- Tony Robbins mentions that he listens to certain Indian music when he’s doing his morning priming.

    You said you would put it in the podcast notes but I don’t see the source anywhere. Please could you clarify if you found out and which music it is he uses?

    Thank you!

  172. I would love to know the name of that plastic surgeon, or to read the book that he was releasing. To me, that’s very fascinating. Does anyone know if that book exists?

  173. Hello Tony and Tim,

    I am 83 years olds and like to basque in the warm sunshine. I have balance problem and a bad knee and I procrastinate. I first listen to Tony Robbins when his goal was to get a stretch limo and than preceded to get my BA which took 11 years.

    I want to get out of this canyon of “shouldofs” and into mountain of success.

    Please give some way to turn this barge around.

  174. What are your thoughts about what Tony has accused women of doing in the #MeToo era Tim? Did he go too far on this issue or are people too sensitive on every topic?

  175. I’ve just listened to the two episodes and there was mention of a program/documentary called Inside Out.

    I’m trying to find it, but all sorts of stuff is coming up when you search it on the net.

    Does anyone know specifically what Tim and Tony were referring to? A link would be helpful too!!

    Thanks