"How The Economic Machine Works by Ray Dalio"
"How The Economic Machine Works by Ray Dalio" World-famous investor Ray Dalio made a30 minute video on YouTube: " How The Economic Machine Works " His three main takeaways: #1: Don't let your debt rise faster than your income because your debts in life (house, car, credit card), left unpaid, will crush you. Action step: Don't spend what you don't have unless you are taking on debt to increase your earning potential (student loan). #2: Don't have your income rise faster than your productivity because you will eventually become uncompetitive. Action step: Your competitive advantage is how productive you are. There are no shortcuts here. Only the long, hard work to get better at your craft. #3: Do all that you can to raise your productivity because in the long run that is what matters most. Action step: Do only what you are best at or get really good at what you do. Interesting how aligned Ray's advice is to a strengths-based approach of huma...