How To Use The Recession To Get Rich In 2023 | Tony Robbins & Lewis Howes

Smart Investments

Tony Robbins emphasizes the importance of diversifying investments across various asset classes. He personally invests in his own business, real estate, stocks, crypto, and physical gold, maintaining a passive investment strategy regardless of market conditions 1. Robbins also shares insights from Ray Dalio's 'All Seasons' strategy, which has consistently yielded returns over the past 75 years 2.

Corrections happen all the time, but you need a strategy that when markets go up and down, you don't go up and down.

--- Tony Robbins

This approach ensures stability and growth even during market fluctuations.

   

Investment Pitfalls

Robbins warns against making investment decisions driven by fear or greed, as these emotions often lead to significant mistakes 3. He shares a personal anecdote about losing money on a gold investment due to greed, highlighting the importance of staying rational and avoiding high-risk moves.

When you're panicked and when you're drunk, you don't make good decisions.

--- Tony Robbins

Additionally, Robbins stresses the value of having a good tax advisor to avoid costly errors and ensure compliance with tax regulations 4.

   

Wealth Mindset

A wealth mindset is crucial for financial success, according to Robbins. He notes that 97% of millionaires believe they control their own destiny and live on less than they make 5. This disciplined approach to finances helps them avoid debt and build wealth over time.

Interest that you pay is a penalty. Interest that I earn on my investments is a reward.

--- Tony Robbins

Robbins also differentiates between getting rich quickly and building long-term wealth, advocating for a patient, strategic approach to financial growth 6.