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Ray Dalio, the founder of the largest hedge fund in the world, lays down his rules and frameworks he uses to navigate his life. He calls them principles. Principles are fundamental for decision making and allow you to live a life according to your values.
Ray Dalio uses principles to guide his personal life, his relationships or to build businesses.
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All principles come from a set of values.
Your values are what you consider important and they define who you want to be. However, they are not practical to use when you are faced with tough decisions.
For example: You may value to “live a healthy lifestyle”. What does “being healthy” mean in practice? What are the daily decisions you are going to make?
Instead of using your values to make decisions, you should defer to principles.
To “live a healthy lifestyle”, you need to create a set of principles to guide you: like “I do not eat fast food during the week” and “I exercise 3 times / week”.
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“Principles connect your values to your actions; they are beacons that guide your actions, and help you successfully deal with the laws of reality. It is to your principles that you turn when you face hard choices.”
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Most people adopt pre-packaged principles from parents, religious institutions, or other influential figures without much thought. This exposes you to the risk of inconsistency with your true values. Holding incompatible principles will lead to conflict between values and actions.
To make sure your principles and your values are aligned, you need to:
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Reality + Dreams + Determination = A Successful Life.
The quality of your life depends on the quality of the decisions you make.
And to make better decisions, you need to adopt “hyperrealism”.
Ray describes “hyperrealism” as accepting the reality as it is rather than wishing it was different. Understanding the reality allows you to learn how to work with them rather than fight them, which leads to greater success.
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A correct understanding of reality is the essential foundation for any good outcome.
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"I believe that life consists of an enormous number of choices that come at us and that each decision we make has consequences, so the quality of our lives depends on the quality of the decisions we make."
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“You do not rise to the level of your goals. You fall to the level of your systems.” Your capacity to achieve goals is all about the systems you implement in your “machine”.
To work on your machine, you need to separate your two personalities:
Your job as a “Designer” is to look at your yourself as a “Doer” objectively to create the most efficient machine possible. If you are not the best for the job, find a good replacement.
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IDEAS CURATED BY
Curious about different takes? Check out our Principles Summary book page to explore multiple unique summaries written by Deepstash users.
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