Jay Shetty & Robin Sharma ON #1 Way to Live a Rich Life

Are you looking for ways to live a more fulfilling life? Do you need guidance on changing your money mindset and transforming yourself through daily practices?

In this On Purpose episode, Jay Shetty welcomed Robin Sharma. Sharma is a globally respected humanitarian, helping individuals unleash their natural gifts for over 25 years. In his latest book, The Wealth Money Can't Buy: The 8 Hidden Habits to Live Your Richest Life, Sharma discusses releasing resentment and redefining the relationship with wealth. He explores daily practices for personal growth, changing social circles, and nurturing a healthy relationship with money.

Wealth Beyond Money

Robin Sharma explained to Jay Shetty that a rich life transcends financial wealth. He emphasized the importance of happiness—in his book, he wrote, "Don't be a resentment collector." People often hold on to grudges as if they were prized possessions. However, this attitude is likely to hinder personal growth. Instead, he suggests moving on and keeping an overall positive attitude.

Moreover, Sharma introduces the notion of "cultural hypnosis," where societal norms equate wealth with happiness. However, money alone doesn't bring happiness. In his book, Sharma listed eight forms of wealth, explaining that money is only one of them. The first form of wealth he described is personal growth, based on continuous self-improvement and accumulating wisdom.

Money is neither good nor bad per se. Sharma explained to Jay Shetty that finding the balance between idolizing or demonizing financial wealth is important. "Allow money to be your servant, not your master," he added.

In his experience, Sharma met many materially rich people surrounded by expensive items yet extremely lonely. Therefore, the author considers family and friends crucial to a truly rich life.

Ambition to Serve

Jay Shetty and Robin Sharma discuss balancing ambition without becoming overly attached to achievements. Sometimes, ambitious individuals become attached to their goals, tying their self-worth to their accomplishments. While humans are naturally driven to progress, Sharma warns against letting external validation drive your ambition.

The author explained that there are two types of ambition: driven by the desire for recognition or by the desire to serve. If your goals are attached to achieving fame, fortune, and applause, it can be unhealthy. Conversely, if you want to serve others, have a desire to create, and pursue personal growth, that is a positive type of ambition. The main difference lies in the main driver: selfless service or self-centered goals.

Fear of Failure

Many people are afraid to take action toward pursuing their dreams and goals. According to Sharma, the main reason is fear of failure or rejection. However, it is crucial to take the first step. Regardless of your goal, everyone starts with taking one simple action in the desired direction. He told Jay Shetty that great monuments, such as the Taj Mahal or the Great Pyramid of Giza, all started with the first block.

To overcome your fear of failure, Sharma suggests remembering that life is short. Reflecting on mortality and putting life into perspective can be motivational. This way, you can focus on what truly matters, avoid procrastination, and take action toward living a full and authentic life.

Growth Environment

Robin Sharma shared with Jay Shetty his practices that helped him embrace discomfort and failure over time. He calls it the MVP: meditation, visualization, and prayer. The author wakes up early to meditate, visualize his goals, and pray; this way, he aligns with his deeper purpose.

Moreover, Sharma suggests writing a "pre-performance paragraph" as part of your morning routine. Write about who you want to be each day to deepen your commitment and set a mental default for your behavior. Consistently adding up these small practices over time can significantly reduce fear and increase resilience.

Sharma explained to Jay Shetty that it is equally important to surround yourself with positive people. In his opinion, the social environment plays a crucial role in our development, just like terroir is critical to winemaking. Toxic relationships can drag you down, while supportive, growth-oriented relationships can elevate your life.

Yet the detractors can be even close family members or long-time friends. In this case, Sharma suggests practicing "selective association"—loving such people from a distance or limiting interactions. The author argues that change is difficult. However, the discomfort of growth is always less dangerous than the illusion of security in toxic relationships.

True growth expands compassion and helps you set healthy boundaries. Jay Shetty advised the listeners to be part of two groups—those who help you grow and those whom you help grow, balancing the giving and receiving.

Be Passionate about What You Do

Sharma advocates for trusting your joy and engaging in work that fuels your passion and purpose. In his opinion, work is not just a job, but an opportunity to discover who we truly are. He suggests focusing on  on creating one masterpiece rather than numerous mediocre works, and contributing to more meaning and magic in the world.

The author explained to Jay Shetty that he doesn't support the "hustle and grind" culture; people also need to take time for themselves and to rest. Yet, when you work hard to achieve mastery, it can be a great source of joy. Everyone has a different attitude toward work - some do it for passion, others for the paycheck.

Personally, Sharma spent a year perfecting his latest book through multiple revisions. He sees work as an opportunity to create something remarkable and serve others. Therefore, he believes in pushing yourself to the limits to achieve your potential. Regardless of your craft, industry, or line of business, if you do it passionately, it can become a source of fulfillment.

Money Is a Tool

Society and family play a crucial role in shaping our beliefs about the world. Sharma explained to Jay Shetty that everyone needs to spend time alone for introspection, to gain clarity and grow. This solitude can help you break free from societal pressures and rediscover your true identity and values.

Moreover, it is essential to separate money from your self-worth. Sharma highlighted to Jay Shetty that true fulfillment comes from within, not external wealth. While money facilitates an easier lifestyle, it should not become your sole end goal. The author advocated balancing financial wealth with family time, wellness and personal growth.

It is rare to be able to focus on all areas of your life at once. Sometimes, you may need to pause some projects to advance in other areas. Jay Shetty warns the listeners that time invested in yourself instead of working towards a financial goal is equally important for a fulfilled existence. A well-rounded life involves navigating both productive and difficult times, as each contributes to personal growth and fulfillment.

"Dead Board of Directors"

Jay Shetty discussed the concept of "scarcity scars," ingrained beliefs that limit our love, health, and career potential. These ideas are often inherited from family and society. To overcome them, Jay and Robin Sharma suggest learning about different perspectives from various mentors. Even if it is momentarily not feasible, the author suggests the "dead board of directors" strategy—getting mentored by historical figures through their biographies and teachings.

Greatness doesn't always come from an innate talent but rather from consistent daily habits that pile up over time. Personalities like Nelson Mandela and Kobe Bryant succeeded through perseverance and rigorous routines. Find the actions that will get you further and keep doing them consistently.

Jay Shetty explains that you can learn from mentors who are not present in the flesh. Observe how personalities handle stress, failure, and success and learn to apply these lessons to your own life. This helps you adopt new habits and mindsets, therefore transforming your scarcity mindset into one of abundance and possibility.

Importance of Relationships

Robin Sharma told Jay Shetty that three great friends are better than many shallow relationships. He explained that a great friend loves you unconditionally, supports you through tough times, and brings joy rather than depletion. He believes having three close friends is a good number to experience relationship depth.

The author shares the story of Eugene Kelley, a former CEO diagnosed with terminal cancer, who re-engineered his final days to create meaningful moments with his loved ones. Only in the last three months of his life did he learn the importance of meaningful bonds and time spent with loved ones.

Besides the three great friends, Sharma advocates for kindness with others. However, he explained to Jay Shetty that being kind doesn't need to equate with weakness. True kindness also involves being kind to yourself and setting boundaries to ensure that others don't exploit your generosity. This way, you can maintain genuine, healthy relationships while maintaining self-respect.

Celebrate Others' Victories

Jay Shetty noted the common misconception that there is a limited number of opportunities in the world. Therefore, many see themselves in constant competition with the rest of the world, making it difficult to celebrate others' success. They may feel threatened by others' achievements, believing there is nothing left for them.

Sharma advises training your mind to see other people's victories as possibilities for yourself. You can also boost your self-esteem by practicing meditation, visualization, prayer, and journaling to process feelings of inferiority and insecurity. When you acknowledge and work through these feelings, you can shift from a scarcity mindset to a mindset of abundance. If others could do it, you can also achieve your goals.

More From Jay Shetty

Listen to the entire On Purpose with Jay Shetty podcast episode on “Robin Sharma ON #1 Way to Live a Rich Life & How to Change Your Money Mindset” now in the iTunes store or on Spotify. For more inspirational stories and messages like this, check out Jay’s website at jayshetty.me.