Pick of the Week: “Principles for Success” in 30 Minutes (Video)

In his mega-best-selling book “Principles,” Ray Dalio shares the unconventional principles that guided him to become one of the world’s most successful investors and entrepreneurs.  Here’s a great quote from the book:

“I learned that if you work hard and creatively, you can have just about anything you want, but not everything you want. Maturity is the ability to reject good alternatives in order to pursue even better ones.” ― Ray Dalio, Principles: Life and Work

For people who don’t have time to read “Principles” (or people who read the book and want a refresher), check out this thirty-minute YouTube “ultra mini-series” sharing many of its central ideas. It’s narrated by Dalio, features charming animation, and it’s totally free.

Agreeableness and Money

A large new study finds agreeable people tend to have lower incomes, more debt, higher default rates, and worse credit than less-agreeable people. But it also finds “agreeable people are less financially successful simply because they care less about money.”

A statement announcing the study notes “Being kind and trusting has financial costs, especially for those who do not have the means to compensate for their personalities.”

Seen first from Mother Jones. And in her Money Moves newsletter, Alicia Adamczyk reminds us that “correlation is not causation, but take from this what you will.”

Quick Picks

Step in the FIRE – A cheat sheet to become independently wealthy from our friends at Compounding Pennies

Spreadsheet Day: Apple’s first big break came because of the spreadsheetTiller

Ask for that raise: America has a record 7.1 million job openings, making it an especially advantageous time to ask for a raise. – Washington Post

Then again: But average hourly earnings ticked up a completely unremarkable 2.8% in September. (Keep an eye on that number.) – Morning Brew

Powerful analysis: U.S. Student Debt May Be a Crisis Now. Soon It Will Be a Catastrophe – Bloomberg

Bill Gates: What I loved about Paul Allen – GatesNotes

Interesting: “Looking at historical prices, always look at zero-indexed charts.” Mr Max

Study: most MLM sellers make less than 70 cents per hour. –  Vox

Vows: “How To Keep Money From Messing Up Your Marriage”- NPR

“You have a whole generation of people that have a significant amount of student loans and its crimping demand for other goods and services,” said Ira Jersey, the chief U.S. interest rate strategist for Bloomberg Intelligence. “As people live with their parents or cohabit with a non-partner, millions of houses and apartments aren’t being purchased. Neither is WiFi or that extra sofa. We think this is having a significant impact on the economy.” – Bloomberg


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