Billionaire Ray Dalio Explains What to Do If Your Life Has Crashed | Impact Theory

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Being one of the greatest investors in history, Ray Dalio could have easily retired into a life of ease, wealth and comfort. Instead, he has devoted his life to explaining the principles that made him successful. On this episode of Impact Theory with Tom Bilyeu, Ray Dalio details precisely how to implement radical transparency, explains how to get past your ego barrier and your blind spots, and shares the secrets to having freedom and a life worth savoring while at the same time achieving crushing success.

SHOW NOTES:

Tom describes the effect Principles had on him [3:05]
You can’t always trust that you are right [4:34]
Ray describes the “two you’s” and how he gets out of his own way [6:34]
Ray and Tom discuss meditation [11:28]
Tom explains how he adopted the identity of the learner [14:34]
Ray describes the ego barrier and the blind spot barrier [17:03]
Ray explains the concept of “just another one of those” [20:04]
Ray details precisely how to avoid constantly making exceptions [25:14]
Ray explains how to implement radical transparency [26:47]
Ray details how to deal with a serious disagreement between two people [30:46]
Ray advocates that sometimes you just have to move on [33:01]
Ray explains why life almost always works the opposite of the way you think [36:45]
Ray talks about how if you want self-discovery you will find a way to get it [39:43]
Ray explains how to get the most out of every single minute [43:11]
Ray defines tough love and struggling well [44:31]
Ray talks about savoring life, freedom, and the life arc [49:00]
Tom and Ray discuss that you really can’t skip a phase in life [54:37]
Ray shares the impact he wants to have on the world [1:00:40]

QUOTES:

“Meditation is the biggest gift that I can give anyone. And I would say, more than anything, it is whatever reason for success I’ve had.” [8:37]
“You only have to know what the best things to do are. You don’t have to have them all come up from your head. And for God’s sake, don’t be overly opinionated! Just because you have that opinion, it doesn’t mean it’s true.” [11:08]
“I got into the habit that I suggest you get into, that other people get into. Whenever you’re in a situation where you’re making an important decision, just pause. And write down: what type of decision was it? And why did I make that decision that way? That’s writing down your principles. It’s kind of your recipe for success.” [23:28]
“If you worry, you don’t have to worry. And if you don’t worry, you have to worry.” [46:08]

FOLLOW RAY:

WEBSITE: principles.com
INSTAGRAM: https://bit.ly/37hc087
FACEBOOK: https://bit.ly/2On6wjB
TWITTER: https://bit.ly/2KwfcDh

BOOKS MENTIONED IN THIS EPISODE:
The Hero with a Thousand Faces by Joseph Campbell: https://amzn.to/2qLS3FZ [0:03]
Principles by Ray Dalio: https://amzn.to/32UawgF [2:35]

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