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Tony Robbins wants you to invest: 'You are not going to earn your way into a fortune'
Michelle Fox | @MFoxCNBC
Published 3 Hours Ago
""You are not going to earn your way into a fortune. Even people that do that don't usually keep it," Robbins said on "Power Lunch." "You have to make money while you sleep."
The only way to do that is by earning compounding interest, in other words, interest on your interest, he explained.
Robbins, a special advisor to CNBC's Financial Wellness Advisory Council, pointed out the benefits in an op-ed for CNBC Invest In You. For example, if a 19-year-old invests $50 a week and averages a 10 percent annual return, he or she will have over $2.2 million at the age of 65.
But even if you are older, it's not too late to get in the game. To have $1 million for retirement, a 40-year-old needs to put away $15,000 a year and a 50-year-old needs $37,000 a year, he said."
_______________
You can't make this sh!t up! I read this interview in the news today. Thank you MJ for articulating the different perspective that so many of us just couldn't put to words. This crap from TR is what I believe for far too long.
Sure hope I didn't cross any lines here, but just about lost it when I saw this article.
Michelle Fox | @MFoxCNBC
Published 3 Hours Ago
""You are not going to earn your way into a fortune. Even people that do that don't usually keep it," Robbins said on "Power Lunch." "You have to make money while you sleep."
The only way to do that is by earning compounding interest, in other words, interest on your interest, he explained.
Robbins, a special advisor to CNBC's Financial Wellness Advisory Council, pointed out the benefits in an op-ed for CNBC Invest In You. For example, if a 19-year-old invests $50 a week and averages a 10 percent annual return, he or she will have over $2.2 million at the age of 65.
But even if you are older, it's not too late to get in the game. To have $1 million for retirement, a 40-year-old needs to put away $15,000 a year and a 50-year-old needs $37,000 a year, he said."
_______________
You can't make this sh!t up! I read this interview in the news today. Thank you MJ for articulating the different perspective that so many of us just couldn't put to words. This crap from TR is what I believe for far too long.
Sure hope I didn't cross any lines here, but just about lost it when I saw this article.
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