Episode
1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
1:16:33
Published: Mon Dec 07 2020
Description
“The most important thing in life is meaningful work and meaningful relationships.”Today's guest is billionaire, philanthropist, and author, Ray Dalio. He is the Founder, Co-Chairman and Co-Chief Investment Officer of Bridgewater Associates, the fifth most important private company in the US according to Fortune Magazine. He is also the author of The New York Times #1 Bestseller Principles, which outlines the principles that he lives and works by to create massive amounts of success in his life and business.Lewis and Ray sat down for a deep and inspiring conversation about why pain is the best teacher, how we can use our mindset to achieve great things, the three phases of life, how to have healthy disagreements, and so much more!For more go to: www.lewishowes.com/1042Check out the Principles website: https://www.principles.com/ Read Ray’s new book: https://www.amazon.com/Changing-World-Order-Nations-Succeed/dp/1982160276 Sign up for updates on the assessment center (personality test): https://assessments.principles.comDaymond John on How to Close any Deal and Achieve Any Outcome: https://link.chtbl.com/928-podSara Blakely on Writing Your Billion Dollar Story: https://link.chtbl.com/893-pod
Chapters
The transcript highlights the wealth accumulation and financial insights, as well as the understanding of people and how to connect them to a greater idea of the guest, who has been named the 69th richest person in the world and referred to as the Steve Jobs of Investing.
00:00 - 04:45 (04:45)
Summary
The transcript highlights the wealth accumulation and financial insights, as well as the understanding of people and how to connect them to a greater idea of the guest, who has been named the 69th richest person in the world and referred to as the Steve Jobs of Investing.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
The speaker highlights the importance of a team of people in one's life who can see things that one cannot see alone and can help in traversing the journey of life successfully.
04:45 - 12:57 (08:12)
Summary
The speaker highlights the importance of a team of people in one's life who can see things that one cannot see alone and can help in traversing the journey of life successfully.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
In this episode, the speaker talks about dealing with life transitions and ambiguity, and staying confident through the unknown or transitioning times, whether it is in personal life or in the financial world.
12:57 - 16:16 (03:18)
Summary
In this episode, the speaker talks about dealing with life transitions and ambiguity, and staying confident through the unknown or transitioning times, whether it is in personal life or in the financial world. They emphasize feeling it and adapting to the changes that come with time.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
The speaker shares their approach to decision making, which involves eliminating unacceptable options and going for the upside while considering the risk involved.
16:16 - 24:12 (07:55)
Summary
The speaker shares their approach to decision making, which involves eliminating unacceptable options and going for the upside while considering the risk involved. They also discuss their personal mantra for overcoming doubt and making better decisions.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
A scorecard system could be a useful tool to help individuals make more informed decisions by tracking the results and real-life consequences of their choices, rather than relying on subjective beliefs or opinions.
24:12 - 26:55 (02:43)
Summary
A scorecard system could be a useful tool to help individuals make more informed decisions by tracking the results and real-life consequences of their choices, rather than relying on subjective beliefs or opinions. This approach would likely require a significant shift away from basing decisions on personal experiences and towards objective data-based evaluations.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
Establishing protocols can help prevent disagreements from delaying progress and can encourage compromise and finding the best solution.
26:55 - 32:05 (05:10)
Summary
Establishing protocols can help prevent disagreements from delaying progress and can encourage compromise and finding the best solution. In today's world, where people tend to stick to their opinions rigorously, having good protocols is more important than ever.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
In order to avoid a civil war and maintain order, it's important to row together and have thoughtful disagreement.
32:05 - 42:18 (10:12)
Summary
In order to avoid a civil war and maintain order, it's important to row together and have thoughtful disagreement. History shows that there are dominant powers in the world, and the US is not exempt from this, as seen in the electoral college system.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
The podcast discusses the differences between the mindset of wealthy people who continue to make and grow their money compared to those who struggle in doing so.
42:18 - 49:44 (07:25)
Summary
The podcast discusses the differences between the mindset of wealthy people who continue to make and grow their money compared to those who struggle in doing so. The importance of financial education, equal opportunities, and taking care of one's family and their education have also been addressed.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
The transcript discusses the importance of investing in oneself, caring for businesses, and counting days to realize the need to save money.
49:44 - 55:01 (05:17)
Summary
The transcript discusses the importance of investing in oneself, caring for businesses, and counting days to realize the need to save money. By doing these things, one can gain exposure and knowledge about different areas of life.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
The speaker discusses the fundamentals of personal finance, highlighting the importance of education and investing early on.
55:01 - 1:02:26 (07:24)
Summary
The speaker discusses the fundamentals of personal finance, highlighting the importance of education and investing early on. He emphasizes the need to understand the basics and learn how to invest wisely to achieve financial stability and success.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
In this podcast, the importance of having and sticking to a game plan is emphasized.
1:02:26 - 1:06:45 (04:19)
Summary
In this podcast, the importance of having and sticking to a game plan is emphasized. The speaker advocates for taking the emotional component out of investing and not being swayed by others' opinions.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
Ray Dalio shares his decades of wisdom from trial and error and lessons from his mentors in his new book.
1:06:45 - 1:12:41 (05:55)
Summary
Ray Dalio shares his decades of wisdom from trial and error and lessons from his mentors in his new book. He also talks about his "three truths" and a new behavioral test for understanding people.
Episode1042 Create Financial Success, Develop PRINCIPLES & Understand Your Purpose w/Ray Dalio
PodcastThe School of Greatness
The podcast host expresses gratitude towards the guest for sharing their wisdom and creating a platform for free sharing of knowledge.
1:12:41 - 1:16:25 (03:44)
Summary
The podcast host expresses gratitude towards the guest for sharing their wisdom and creating a platform for free sharing of knowledge. The guest talks about their struggles with insecurity as a child and the lack of tools to manage emotional, physical, mental and financial pain.