I’m a big fan of life and business coach Tony Robbins. His positive energy is contagious and his message that you can conquer the world if you first master yourself really resonates with me. Robbins recently shared 10 of his most powerful insights with Money magazine.
1. Have a mission. You are most likely to succeed when you are pulled towards something, not pushed into it. Figure out what you are passionate about in life and build your career around that obsession. Robbins says that’s the only way to truly unleash all of your talent and energy.
2. Stop trading time for money. That’s what you’re doing if you have a 9-to-5 job. Robbins calls this the worst trade you’ll every make, as you can always get more money, but your time is limited. You may not be able to quit your job tomorrow, but you can start saving aggressively to allow yourself to start your own business or otherwise free yourself from time-for-money bondage.
3. Practice gratitude. Robbins quotes legendary investor John Templeton as saying, “If you have nothing but you are euphorically grateful for whatever you have, you’re the richest person you’re ever going to know.” Robbins starts every day by thinking through a list of things for which he’s grateful.
4. Be a disciplined investor. Don’t try to shoot the moon with every investment. Instead, look for the greatest return for the lowest risk. Know the downside of every investment and have a plan to limit your exposure. Be mindful of excessive fees that can eat up your seemingly great returns.
5. Don’t be afraid to fail. Things will occasionally go sideways in both your personal and financial life. Don’t let that reality prevent you from pursuing your dreams and taking calculated risks. Fear of failure will leave you stagnant.
6. Work harder on yourself than anything else. Work relentlessly to make yourself more valuable to your customers, employer and the people in your life. Develop new skills, gather more knowledge, and hone your intelligence.
7. Save automatically. You can’t spend what you never touch. Enroll in your employer’s 401k program and your retirement savings go straight into an investment account. No 401k? Arrange for direct deposit of a portion of your paycheck into a private retirement account.
8. Give what you don’t think you can give. Being generous with your time and money not only feels good, it builds a connection with people and fosters gratitude. Giving more than you think you can afford also offers the benefit of teaching you that you can live on a bit less than you thought possible and encourages financial discipline.
9. Be psychologically strong. Mental strength is critical to surviving tough times and thriving on the other side. Psychological strength takes time to develop, just like physical strength. Work on your mental toughness every day.
10. Progress equals happiness. Humans are like sharks. We must always be moving forward in some small way in order to stay alive. If you are in a rut or battling tough times, even the smallest step forward will make you feel better, and lead to the next bigger step. Hate your job? Look at the job postings today. Just look. It’s a start. Finances a wreck? Make a change today that saves a couple of dollars.