Black and white portrait of Ray Dalio: Narrator and Creator of Life Principles

Principles are ways of successfully dealing with reality to get what you want out of life.

Ray Dalio, one of the world’s most successful investors and entrepreneurs, cites principles as his key to success.

Life Principle

If you are open-minded enough and determined, you can get virtually anything you want.

So I certainly don’t want to dissuade you from going after whatever you want. At the same time, I urge you to reflect on whether what you are going after is consistent with your nature. Whatever your nature is, there are many paths that will suit you, so don’t fixate on just one. Should a particular path close, all you have to do is find another good one consistent with what you’re like.

But most people lack the courage to confront their own weaknesses and make the hard choices that this process requires. Ultimately, it comes down to the following five decisions:

  1. Don’t confuse what you wish were true with what is really true.
  2. Don’t worry about looking good—worry instead about achieving your goals.
  3. Don’t overweight first-order consequences relative to second- and third-order ones.
  4. Don’t let pain stand in the way of progress.
  5. Don’t blame bad outcomes on anyone but yourself.

Life Principle

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Life Principles

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