Motivational speaker and self-help expert Tony Robbins stopped by ABC News' “Good Morning America” today to celebrate the paperback release of his No. 1 New York Times Bestseller, "Money: Master the Game."
Robbins, who’s been a catalyst for getting people to change, said he credits his ability to impact others to the pain he experienced during childhood.
“I grew up in a pretty tough environment and my mom loved me ... but she abused alcohol and prescription drugs and was very violent,” Robbins told “GMA’s” Robin Roberts. “And so, I’ve become a practical psychologist to kind of figure that out and since I’ve suffered so much I don’t want anybody else to suffer, so I became obsessed with finding answers to change people’s lives.”
In his book, Robbins reveals steps to financial freedom that can contribute to positive change.
“I think [mistake] number one is everybody spends so much, so we also have no money to invest and the real reason we don’t invest is because we don’t understand the power of compounding,” Robbins said.
“The other one is getting the wrong advice,” Robbins added. “Most people that are giving you advice are brokers. They’re good people, but they’re selling for the house and the house always wins. If you get a fiduciary, a RIA, that’s a person who’s legally required to put your needs first. If they tell you to buy Apple today and they buy it later today and make more money, you get their stock if they bought it cheaper.”
"Money: Master the Game" is on sale now.
All of the proceeds from Robbins' book will go to Feeding America, a nonprofit nationwide network of more than 200 food banks.