Latest news with #Robbins
Miami Herald
2 hours ago
- Business
- Miami Herald
Tony Robbins sends strong message to Americans on 401(k)s
Many Americans preparing for retirement through savings and investments often encounter significant financial hurdles as they work toward a secure and enjoyable future. They eventually come to realize that while Social Security provides a foundational stream of income, it was never designed to fully support every cost of living throughout the entirety of retirement. According to renowned motivational speaker and author Tony Robbins, although 401(k) plans offer valuable opportunities, workers frequently encounter scenarios that could jeopardize their long-term financial well-being. Don't miss the move: Subscribe to TheStreet's free daily newsletter Regularly contributing to retirement accounts that offer tax advantages - such as 401(k) plans and Individual Retirement Accounts (IRAs) - is a smart financial strategy. Taking full advantage of these contributions, particularly with regard to 401(k) plans when an employer match is available, can greatly enhance retirement savings over the long term. Robbins has emphasized the importance of financial awareness when it comes to retirement planning. One of his key messages is a warning to American workers regarding misconceptions about Social Security and 401(k) plans. Related: Jean Chatzky sends strong message to Americans on Social Security A crucial part of effective retirement planning certainly involves understanding how Social Security benefits are determined and carefully choosing when to begin claiming them. By postponing benefits beyond one's full retirement age, retirees can receive higher monthly payouts from the program. Considering this background, Robbins highlights a critical caution about how 401(k) plans are used - urging workers to avoid common pitfalls that could affect their financial futures. Tony Robbins points out that for three decades, companies managing 401(k) plans were not required to reveal how much they were charging in fees. Now that disclosure is mandatory, he believes many providers hide those costs in lengthy, complex documents - making it hard for individuals to truly grasp what they're paying and keeping them largely uninformed. "What the majority of Americans don't realize is that an increase in 1% in fees will cost you 10 years in retirement income," Robbins wrote. More on retirement: Dave Ramsey offers urgent thoughts about MedicareJean Chatzky shares major statement on Social SecurityTony Robbins has blunt words on IRAs,401(k)s Robbins uses a straightforward hypothetical scenario to underscore the long-term impact of investment fees on retirement savings. In his example, three employees - let's call them Employee 1, Employee 2, and Employee 3 - each invest $100,000 at age 35 into separate mutual funds. All three investments generate the same steady annual return of 8%, and none of them withdraw any funds for 30 years. However, each employee is subject to a different annual fee: 1%, 2%, and 3%, respectively. By the time they reach age 65, Robbins clarifies, the variation in fees has created a striking difference in their account balances. Despite identical contributions and returns, Employee 1, who paid the lowest fee, has nearly double the retirement savings of Employee 3, who paid the highest. Related: Dave Ramsey sends strong message to Americans on Medicare Robbins emphasizes that the cost of high investment fees doesn't end at retirement. Using the scenario of each employee needing $60,000 annually to fund their retirement, he notes that the long-term consequences become even clearer. The employee facing the highest fees - Employee 3 - depletes their savings before reaching 75, while Employee 1, who paid the lowest fees, sees their nest egg last until age 95. According to Robbins, this stark contrast demonstrates how even small differences in fees can compound into significant financial disparities. It's a powerful reminder, he says, that being mindful of investment costs isn't just a matter of saving money - it's a crucial step in safeguarding long-term financial security. "I learned about these abuses while writing 'Money: Master the Game,' and it made me so angry that people were getting robbed blind," Robbins wrote. "So I brought in America's Best 401(k)." America's Best 401(k) is a retirement plan provider that says it aims to reduce the high fees commonly associated with traditional 401(k) plans. Robbins asked the firm to asses the 401(k) plan used by his own research company and ended up using their proposed solution. "They showed me that we were paying 276% more than we needed to for the same exact stocks," Robbins wrote. "It saved my employees $5 million in their retirement, and it cost nothing." Related: Shark Tank's Kevin O'Leary warns Americans on 401(k)s The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
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Miami Herald
4 days ago
- Entertainment
- Miami Herald
Meet Miami City Ballet's new artistic director, the third in the company's history
When Lourdes Lopez, Miami City Ballet's artistic director, announced last February that the 2024-25 season would be her last with the company, one of the reasons she cited for stepping down was to help usher in a new chapter for the 40 year old company. 'A company needs new energy, a new way of looking at the dancers, a new way of looking at the community.' The venerable organization may have found just that with Gonzalo Garcia, 45, who has been named MCB's new artistic director effective Aug. 11. He will be only the third artistic director since the ballet was founded in 1985 with Edward Villella, who helped launch the company, being the first. Garcia's has spent most of his career as a principal dancer —first with the San Francisco Ballet and then New York City Ballet, where he was a principal dancer until announcing his retirement in 2022. He was appointed Repertory Director for the company and was on the faculty of the School of American Ballet at the Lincoln Center, co-founded by George Balanchine. He'll leave those two positions to lead MCB. At 15, the native of Zaragoza, Spain, was the youngest dancer to receive a gold medal at international dance competition the Prix de Lausanne (Switzerland) in 1995. At 17, he was offered a contract to join San Francisco Ballet but decided to study one more year, joining the company in 1998. He was promoted to principal dancer at 22, one of the youngest dancers in the company to reach the status. He arrived at New York City Ballet as a principal dancer in 2007. Garcia's known for his strong dance repertoire, which included works by Balanchine and Jerome Robbins, and for creating original roles in works by two of the contemporary choreographic masters, Justin Peck, resident choreographer and artistic advisor of New York City Ballet, and choreographer Alexei Ratmansky. For his farewell performance with NYCB in February of 2022 he danced works by Balanchine, Robbins and Peck. It is this pedigree that led to MCB's board of directors choosing Garcia as the right fit to take the reins. Villella, MCB's founding artistic director, worked with Balanchine as a principal dancer from 1957 to 1979 at NYCB. Legendary changemaking choreographer Jerome Robbins created his 1976 ballet 'Watermill' to be danced by Villella, among other dance partnerships with Villella. Shortly after Lopez's 16th birthday, while attending the School of American Ballet, Balanchine invited her to join the corps of NYCB, and she became principal in 1984, playing numerous roles in choreographies created by Balanchine and Robbins. 'The two artistic directors we've had both were with Balanchine and Robbins and they had that pedigree about them,' said Jeff Davis, MCB's chair of the board of trustees. 'Gonzolo was heavily trained in the Balanchine technique [and] in Jerome Robbins.' The company's repertoire includes more than 100 ballets, with significant works by Balanchine and Robbins. It has expanded its repertoire to include contemporary choreographers including Peck and Ratmansky. 'Gonzalo is in tune with the next wave of choreographic voices,' said Davis. 'He has great connections with Justin Peck, Patricia Delgado [a former Miami City Ballet principal, she won the 2025 Best Choreography Tony Award along with husband Peck for Broadway's 'Buena Vista Social Club'], and [British choreographer] Wayne McGregor.' Garcia mentions 'destiny' when it comes to his appointment. 'It was meant to happen. The more I went through the process, the more I felt energized and more comfortable with the idea that it was me. I kept thinking, 'that's me. I speak Spanish. I'm an immigrant. I can relate to so many people that represent the community. I also have this incredible trajectory with the Balanchine and the Robbins and these American companies that have been represented in Miami City Ballet's history. I feel like it's been like almost every step and every skill that I have acquired through my life has brought me to this place and I do believe that strongly.' While the 40th anniversary season is already programmed, Garcia will begin working on what's next for the company, including the following season but also using his skills as 'a great collaborator.' 'I love being in the studio with dancers, I'm a teacher and an educator. I understand the different needs and technical abilities, but I also understand emotional abilities because I have danced a lot of the repertoire. I think [the company} needs someone that is going to get in there and really inspire them, reenergize them.' Garcia also sees MCB becoming more a part of what he says is the culture that is Miami. 'The stories that are happening in Miami, maybe that can be represented on stage. And who can be the right dance maker that can bring those stories to life? That's something that I want to invest in. Miami is just simmering with potential from all areas and parts of the world and the country. I don't seek to change what's already been created, but how do we make that bigger and better and how do we add things that are representative of the community we are dancing for?' With his background working with the School of American Ballet, he's also hoping to tap into the potential at the Miami City Ballet School. 'I want to continue teaching. How do we prepare those dancers to be future dancers not only for Miami City Ballet but also internationally to carry on the legacy,' he said. 'Who knows? We might have new choreographers there, perhaps the next Alexei Ratmansky.' The search, according to Davis, was led by Phillip DeBoer of executive search firm DHR Global. 'We started first with surveying all of our stakeholders –our dancers, our board, community members, our funders – asking them what their vision was for the next artistic director. We also contacted artistic directors of other ballet companies, choreographers and presenters. So out of that whole process, we had about 70 prospective names.' It considered 40 applicants. Garcia was one of two final candidates. The new artistic director begins his role in the midst of a precarious state of the arts both in support from the state of Florida and in the federal government. 'The Miami City Ballet has a strategic plan to build an endowment, and it is a very ambitious five year plan. I am going to be very much a part of that and trying to find places that we haven't previously found support. The reality is that in order to move the company forward without certain economic support, it will be very hard to do. So we'll need to be more strategic and conservative, but still ambitious,' said Garcia. He'll move to Miami with husband Ezra Hurwitz, an Emmy Award winning film director (he won the award for his short film 'Inside and Outwards' that was narrated by Sarah Jessica Parker and dealt with mental health during COVID), he's also worked with Tiffany & Co., Dior, Apple and Netflix. Prior to his film career, he was a professional dancer and spent eight years with the Miami City Ballet. He's looking forward to Hurwitz helping the company to expand its digital presence. 'That's something incredibly important for us to be relevant.' Garcia says he met Hurwitz during his last year with MCB. 'I remember going to visit him in Miami and taking class with the company. I've become close with the friends he made there so I have been surrounded with these conversations and his historical knowledge around my living room in New York many times through many years. I have worked with Edward Villella and Lourdes Lopez in different capacities in my life so with all of that, I feel emotionally connected to the company in so many ways.' is a nonprofit media source for the arts featuring fresh and original stories by writers dedicated to theater, dance, visual arts, film, music and more. Don't miss a story at
Yahoo
6 days ago
- Health
- Yahoo
Bestselling Author and Food Revolution Network President John Robbins Has Passed Away
A Pioneer Who Changed the Way the World Thinks About Food Leaves a Lasting Legacy SANTA CRUZ, Calif., June 14, 2025--(BUSINESS WIRE)--John Robbins, bestselling author, activist, and co-founder of Food Revolution Network (FRN), has passed away from complications of post-polio syndrome. A trailblazer for ethical, healthy, and sustainable food systems, Robbins' work sparked a worldwide movement that continues to shape policy, science, and public consciousness. His bestselling 1987 book Diet for a New America exposed the health, environmental, and ethical costs of industrialized animal agriculture. Robbins went on to author several more bestsellers, including The Food Revolution and Reclaiming Our Health, reaching millions and inspiring a global shift toward conscious eating. Turning away from a path of inherited wealth as the presumed heir to the Baskin-Robbins empire, Robbins chose to champion a life of integrity. His activism extended beyond books: he served on nonprofit boards, spoke on global stages, and received numerous accolades, including the Rachel Carson Award and the Green America Lifetime Achievement Award. Despite contracting polio at age five, Robbins defied medical expectations to become a marathoner, yogi, and triathlete. Diagnosed in 2019 with Post-Polio Syndrome, he continued to live vibrantly—a testament to the diet and lifestyle he advocated. Robbins' legacy lives on through the million-member Food Revolution Network and the newly formed nonprofit, Food Revolution Alliance (FRA), both dedicated to promoting healthy, ethical, and sustainable food for all. "My father was my mentor, my colleague, and my treasured friend," said Ocean Robbins, FRN CEO. "His love, courage, and wisdom touched countless lives. Now, we carry his torch forward." A family statement added: "John met life's challenges with resilience and with love. Even in the face of pain, he never stopped growing, learning, or seeking to make a difference in the lives of others. His presence and his purpose continue to guide and inspire us every day." To learn more, please visit: To honor his legacy, donations may be made to the Food Revolution Alliance at View source version on Contacts Media Contact: Sierra Kohlruss, Chief Operating OfficerEmail: media@ Website: Sign in to access your portfolio
Business Wire
6 days ago
- Health
- Business Wire
Bestselling Author and Food Revolution Network President John Robbins Has Passed Away
SANTA CRUZ, Calif.--(BUSINESS WIRE)--John Robbins, bestselling author, activist, and co-founder of Food Revolution Network (FRN), has passed away from complications of post-polio syndrome. A trailblazer for ethical, healthy, and sustainable food systems, Robbins' work sparked a worldwide movement that continues to shape policy, science, and public consciousness. His bestselling 1987 book Diet for a New America exposed the health, environmental, and ethical costs of industrialized animal agriculture. Robbins went on to author several more bestsellers, including The Food Revolution and Reclaiming Our Health, reaching millions and inspiring a global shift toward conscious eating. Turning away from a path of inherited wealth as the presumed heir to the Baskin-Robbins empire, Robbins chose to champion a life of integrity. His activism extended beyond books: he served on nonprofit boards, spoke on global stages, and received numerous accolades, including the Rachel Carson Award and the Green America Lifetime Achievement Award. Despite contracting polio at age five, Robbins defied medical expectations to become a marathoner, yogi, and triathlete. Diagnosed in 2019 with Post-Polio Syndrome, he continued to live vibrantly—a testament to the diet and lifestyle he advocated. Robbins' legacy lives on through the million-member Food Revolution Network and the newly formed nonprofit, Food Revolution Alliance (FRA), both dedicated to promoting healthy, ethical, and sustainable food for all. 'My father was my mentor, my colleague, and my treasured friend,' said Ocean Robbins, FRN CEO. 'His love, courage, and wisdom touched countless lives. Now, we carry his torch forward.' A family statement added: 'John met life's challenges with resilience and with love. Even in the face of pain, he never stopped growing, learning, or seeking to make a difference in the lives of others. His presence and his purpose continue to guide and inspire us every day.' To honor his legacy, donations may be made to the Food Revolution Alliance at
Miami Herald
13-06-2025
- Business
- Miami Herald
Tony Robbins sends strong message to Americans on 401(k)s, IRAs
As life expectancy increases, many American workers are rethinking their approach to saving and investing for retirement. Finance expert and motivational speaker Tony Robbins acknowledges this reality and emphasizes a key strategy involving 401(k) plans and Individual Retirement Accounts (IRAs) to make the prospect of longer lives something to celebrate rather than fear. Don't miss the move: Subscribe to TheStreet's free daily newsletter Relying solely on Social Security for financial security in retirement is not a wise course of action - especially considering how extended lifespans are lengthening the amount of time people spend on this planet beyond their working careers. According to Robbins, an average retirement lasted near 12 years, half a century ago. Today, it is common for it to stretch beyond 20 years. Related: Jean Chatzky sends strong message to Americans on Social Security Importantly, the Center for Retirement Research (CRR) has found that about half of U.S. households risk falling short on funds needed to sustain their current standard of living in retirement. Robbins encourages Americans to assess their 401(k) and IRA options early in their careers and make informed financial choices that can support a stable future. He offers some key thoughts on this subject for the many workers trying to find a way to sort it all out. Getty Robbins advises workers to take full advantage of any 401(k) contribution matching offered by their employers, as it's essentially free money that can significantly boost retirement savings. For those with the option to choose a Roth 401(k) - which allows people to pay taxes up front so they can withdraw funds tax-free in retirement - he strongly recommends doing so. His reasoning is simple: Robbins believes one's taxes are likely to be higher during retirement. If that assumption holds true, then it would be smarter to pay them at today's lower rates rather than later. More on retirement: Jean Chatzky shares major statement about Social SecurityShark Tank's Kevin O'Leary has blunt words on 401(k) plansDave Ramsey strongly cautions U.S. workers on Social Security Making proactive decisions about investing in defined contribution (DC) plans - such as 401(k)s - is especially important given the long-term impact of financial hardships Americans have experienced going back to the financial crisis of 2008. "Households' retirement preparedness in all income groups was heavily affected by the Great Recession," the CRR found. "The middle and the highest thirds saw significant improvement from 2010-2019 due to rebounding housing and equity prices. In contrast, households in the bottom third saw virtually no improvement as they are less likely to own a house and participate in DC plans, and have few financial assets." Related: Shark Tank's Kevin O'Leary warns Americans on Social Security problem In his book, "Money: Master the Game," Robbins wrote that he frequently receives questions about whether setting up a Roth IRA is a smart move for retirement planning. His stance is clear - it's a resounding yes. A Roth IRA, much like a Roth 401(k), requires individuals to pay taxes on their contributions up front. The benefit? Again, once retirement arrives, withdrawals come free of tax burdens, offering financial flexibility in later years. In 2025, contribution limits for Roth IRAs are set at $7,000 for those under 50 years old. Those aged 50 and above can make an additional $1,000 catch-up contribution to bolster their retirement savings. However, income eligibility plays a role in determining how much one can contribute. To contribute the full amount, an individual's modified adjusted gross income (MAGI) must be below $150,000. For married couples filing jointly, the threshold is $236,000. Robbins emphasizes that taking advantage of these accounts is a strategic move, helping investors secure their financial future while making tax-efficient decisions. As mentioned above, with lifespans growing longer, preparing for retirement with the right tools - especially tax-advantaged accounts such as Roth IRAs - can turn financial uncertainty into a well-planned, secure future. Those who are eligible should strongly consider leveraging these opportunities as they strive to build a rewarding retirement. Related: Dave Ramsey warns Americans on Social Security The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
