Tony Robbins is awesome! He is so exciting to listen to and constantly gives great advice. See below for a video where he talks about the basic formula to financial independence. The formula is very simple. Spend less than you earn and invest the difference.
In this video, he talks about building a money machine. The approach is amazing because rather than focusing on investment return, he focuses on developing an extra income stream. This approach is so important because most people say they are scared to invest their money. Instead of investing, they spend all their money and then wonder why they are broke. The smart person, spends less than they earn. They may even make a negative return every year. However, they still have more than $10,000 in their savings while 43% of Americans don't. Wow, did they just beat half of Americans without a great return on investment. Check out my earlier post on Mr. Money Mustache!
This post was reposted from http://finlit.biz/retirement-2/tony-robbins-says-spend-less-than-you-earn-and-invest-the-difference/, originally written on January 25th, 2013.
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