Life advice from self-made billionaire, Ray Dalio - Part 2

Dalio is a self-made billionaire. He has published multiple books, given TED Talks and started the world’s largest hedge fund from the ground up.

He’s done all of this while remaining in a giving mindset. He believes that giving back to others is the only way to create real joy and an extraordinary life. But when starting out, it may be hard to imagine spending down when you’re still trying to accumulate wealth.

It can be easy to get wrapped up in the typical fear mindset of most investors – but Dalio is living proof that a growth mindset can coexist with a giving mindset and still lead to financial success.

In this episode, Dalio tells Tony how he became a billionaire while staying true to himself and continuing investing in those around him. He’ll give some of his most important investment secrets, explain patterns he has seen in the behaviors of typical investors and how setting rules of disagreement is key in any type of relationship – professional or personal.

While Dalio’s methods seem unconventional at first, he does stand by some classics: he recommends the power of diversification when it comes to a trading portfolio, for example. That’s where his typical advice ends, though.

The top piece of advice that Dalio gives is to remain humble. Recognizing your strengths and assembling the right team to solve for your weak spots only leads to more substantial growth and success.

In addition to his humility, he also credits the way he handles conflict, both in his personal and professional relationships, as a main contributor to his success. He goes into every relationship with respect and the goal of learning from conflict rather than needing to always come out on top.

Though Dalio speaks to his success in the financial industry during this podcast episode, all of his secrets can be applied to personal and personal relationships. Remaining humble, learning from conflict and centering yourself from a place of giving and growth will help you to build an extraordinary life – inside and outside of work.