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"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 human development.


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