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Tom Bilyeu's Impact Theory

The Truth About Money and Happiness | Tom Bilyeu AMA

Tom Bilyeu's Impact Theory

Impact Theory

News, Business, News Commentary

4.75.2K Ratings

🗓️ 23 May 2018

⏱️ 40 minutes

🧾️ Download transcript

Summary

Tom answers questions from the community. Impact Theory is proudly sponsored by: Skillshare. Start learning on Skillshare today at skillshare.com/impact Subscribe to our Channel: http://bit.ly/2HP4F3h Get Tom's "Be Legendary" Shirt here: http://bit.ly/2CaCwEw Tom Bilyeu AMA’s are Live on Facebook and YouTube every Friday at 10 am PST. You can submit your questions in advance to connect@impacttheory.com, with the subject line “AMA Question”. PEOPLE MENTIONED Naveen Jain: https://youtu.be/Y_itHlMwrFA QUESTION TOPICS The reality behind money and happiness [0:15] What Tom’s definition of what ‘breaking yourself in half’ in service of your goals means [4:30] Why we haven’t been taught that money doesn’t buy happiness [9:28] How to follow your passion even when you have children to take care of [13:08] How to lower anxiety in a networking situation [18:04] Why Tom doesn’t associate monetary success with life success [19:42] Should you take a job that you’re not passionate about that pays better, if you know you’re going to leave it eventually anyway? [21:47] Material items are the only things that make me happy. How do I change this perspective? [23:47] Why you should ALWAYS prioritize sleep [26:59] Why you shouldn’t be overwhelmed by your big audacious goal [29:59] This is how you take shortcuts when they are available [37:54] Is your ‘Why’ directly related to your childhood? [39:19]

Transcript

Click on a timestamp to play from that location

0:00.0

What is up everybody and welcome to another edition of AMA Live.

0:04.1

I'm your host Tom Bilyu and I'm here to answer all of your questions.

0:07.1

And today we are going to be talking about the truth of money and happiness.

0:12.2

So our first question is from Sarah Chi.

0:15.0

This came in via the Connect inbox and she said,

0:18.1

I quit my job to start my own business, something I've always wanted to do.

0:21.3

I'm earning less than I was earning in my corporate job,

0:23.3

but enough to cover my living expenses in a world where success is typically

0:27.7

measured by how much money you make rather than how happy and fulfilled you are.

0:32.2

How do you keep the face, faith, whilst still being objective in your journey?

0:37.6

All right.

0:38.0

So here is the reality about money.

0:41.7

So the reason that people chase it, even though I know you've heard a thousand

0:44.7

times and it is absolutely true.

0:47.9

Money can't buy happiness.

0:50.2

That if you're chasing money, the odds of you ending up with some level of dissatisfaction

0:56.5

is incredibly high.

0:58.2

But the reason that people ignore that and the reason that they keep chasing it,

1:01.0

the reason that I myself live the cliche of money can't buy happiness is because

1:05.6

money actually does have power.

1:07.6

Now, the thing that money lets you do, the thing that gives it that power,

1:11.3

the reason that people will chase forever and ever and ever is it is the great facilitator.

...

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