https://www.youtube .com/watch?v=UacgowUVr2E
Build IRONCLAD discipline in this FREE workshop: https://bit.ly/3SbkPqM On Today’s Episode: The principles you live your life by will either reward you with a life you enjoy living or lead you to a life you want to escape. Whether you consciously choose your principles or operate subconsciously on your default network, principles specific to you are guiding you in the outcomes you achieve. Ray Dalio is the founder of the world’s biggest hedge fund, Bridgewater Associates which manages over $100 billion. His mission has been to share the principles that have made him wildly successful. He wasn’t born into wealth, so when he shares these principles and lessons he’s found repeatedly successful, you may want to take notes. This episode is stuffed with foundational ideas and mindset shifts to help you succeed and learn to start thinking from first principles. Understanding how to handle your opinions, how to struggle well, how to separate yourself from doing things that are better done by someone else is your first step to major success. SHOW NOTES: 0:00 | Introduction to Ray Dalio 0:14 | Prepare for the Recession 33:32 | The Secret to Wealth & Success 52:55 | How to Survive & Thrive 1:20:50 | Adopt the Right Mindset QUOTES: “When you have a large wealth gap and you have an economic downturn people are more inclined to have conflict.” [10:57] “People in the top 40% of income will spend about five times as much money on their children’s education than those in the bottom 60%, and that’s neither fair nor productive.” [26:18] “There’s always a path out there, you just don’t happen to see the path now, so you have to find the path.” [32:44] “Make your passion and your work the same thing.” [35:52] “The truth is you can have a lot more life and you can have a lot more if you know how to get more out of a minute.” [37:10] “Struggling well will get you what you want rather than avoiding struggle.” [39:41] “If you worry, you don’t have to worry, and if you don’t worry, you have to worry.” [40:53] “What you don’t know is greater than what you do know.” [1:08:14] “If you have the equanimity, that calm centeredness, and you have your plan, and you triangulate well with others so that you can get all the best advice and don’t have to approach it in your own head, you’re a long way there.” [1:20:31] “If you can get past your ego barrier and you get past your blind spot barrier you can accomplish anything…” [1:21:45] “For God’s sake don’t be overly opinionated! Just because you have that opinion doesn’t mean that it’s true.” [1:23:11] “If you want your life to be successful you will not let yourself do certain things because you’re just no good at them.” [1:31:37] Follow Ray Dalio: Website: https://www.principles.com/ Twitter: https://twitter.com/RayDalio Instagram: https://www.instagram.com/raydalio/ YouTube: https://www.youtube.com/channel/UCqvaXJ1K3HheTPNjH-KpwXQ
What are you doing to prepare for the upcoming recession? Drop a comment below!
@one STOP pressuring anyone to be a parent. its not required and your pushing an adgenda.
Still working a day job but focusing my spending in other directions. I did away with house living for camper living and began investing into equipment to produce food in large bulks. The rest of my income is being spent directly into titled assets that don’t lose value which is complicated. But i believe the key to surviving a financial collapse is to not rely on what you can store, but rather what you can produce constantly. I’ve done away with banking and started acting as a bank by growing equity and did extensive planning to make sure i have constant fresh food sources. I don’t believe that having money will help and the crypto market is crazy unstable to look at for an answer. So having equity like a land, truck, camper, sailboat, semi trailers, etc… are viable to me as plausible ways to increase personal resource in varying ways. Diversity is definitely key and not relying entirely on fuels or even offgrid power systems.
@Mekookay, your right, I’m an idiot, you win
@Meko I expected comments like yours.. I realize we are not welcome to have opinions… When is opinions pressuring? I’m nobody, and who cares what I say?
You should start this conversation with the difference between money and currency
You can’t print money( gold and silver) you print fiat currency
OMG! pathetic common sense.
I’m in the 99%that is totally fucked .
THE ONLY WAY TO CHANGE THE WAY WE LIVE IS TO
#usethebucket
#startthereset
#wagmi
Work hard, develop a skill set & you’ll be financially rewarded (*, **)
* Low interest rates, excessive monetary creation may help your life savings flourish.
** Preferred partners remunerated in times of financial difficulty.
Tom you talk way more than you should when you are interviewing people. Your audience wants to hear the guest finish the answers to questions prior to asking another three.
The over riding issue with wealth disparity today is not taxation, it is remuneration. Not one of these guru CEOs can explain to me how a CEO csn make 12 million a year and a highly educated Doctor, engineer, or a smart electrician earn 100-200k. The disparities in wages allow the rich to buy financial assets which further impoverish others by asset appreciation. Taxes wont help
Having the BASICS in life food, clothing, shelter, and good reasonable health are all blessings, everything else is extra.
I would also like to add that the majority of 401k plans out there for middle class workers give them little-to-zip control over the assets the 401k plan invests in. You can choose between agressive, conservative, growth, or those terminologies, but most often (unless you have a self-employed SEP plan) you have no say in what bonds, equities, or whatever the plan buys and sells. You read all the time of company retirement plans going bust (and this includes 401k’s) or losing lots of money in risky investments, yet they still charge their annual management fees even as they xlose your money. And most people don’t know anything about how they should set up their 401k account and usually have little time to make decisions before a plan rep is setting across the table from them pressuring them. I have had clients (I was an int’l tax accountant for almost 40 years) who started 401k’s in the late 1990’s who now are lucky if they if have their own contributions left let alone enough to retire on when that time comes. Yet the company’s executives who tanked the stocks in people’s retirement plans still got multi-million dollar bonuses as their companies were failing and everyday workers saw their 401k’s barely worth the paper the statements were printed on. This is the reality for many workers now. People who talk like it is so easy for people to just save up enough for emergencies are always those far removed from today’s reality where many people could not have saved up 3-6 months of living costs unless a married couple never had kids and always lived in a studio apartment. Being middle class in the 40’s is not the same as it is today.
I get the sense this guy is not as much LISTENING to Ray Dalii as much as he is wanting to share his thoughts. Ray at one point is talking about skills and how to get them and he is cut off by the interviewer, who proceeds to talk about something else without letting Ray finish what he was saying. Not a good interview.
Christ leads the way, not fiat living.
Central banks are criminal and are a syndicated crime network
Land is the current asset being bought up, globally land prices are being made artificially low to assist this, such as government policy on reducing fertilizer.
Haven’t finished watching, but what a spot on video at the layperson level. Commendable. Thank you.
Ray or Tom,
If the Federal Reserve is a gov’t institution, then why are private banks shareholders & why do they receive dividends?