Yahoo Finance
When Ray Dalio was 12, heworked as a golf course caddyearning about $6 a bag and used the cash to buy his first stock in an airline.
Over the years, he built a fortune as a hedge fund investor and wants others who seek to follow in his footsteps to consider their ultimate financial goals.
"You work your a-- off to get a lot of money? Just think about that.
Is that it? What's the money for?" Daliosaid in a July episodeof the podcastMy First Million with hosts Sam Parr and Shaan Puri.
"Money doesn't have any intrinsic value, right? So you have to have a purpose.
Why are you getting the money? What do you want to do with the money that is so important? You better answer that question." Jeff Bezos backs a platform that lets anyone invest in rental homes for as little as $100 —6 ways to build wealth like a landlord without actually being one Dave Ramsey warns nearly 50% of Americans are making 1 big Social Security mistake.Here's what it is and 3 simple steps to fix it ASAP The tax breaks in Trump's 'big beautiful bill' expire after 2028.Here are 4 moves to make before the window closes In July 2025, Daliosold his final stakein Bridgewater Associates, the hedge fund he founded that helped him amass a net worth of $22 billion,according to the Bloomberg Billionaires Index.He has since devoted much of his energy into philanthropy.
Notably, Dalio and his wife Barbaraprovided $250 a piecefor 300,000 Connecticut children through the "Trump accounts" that launched in the summer.
Dalio wanted children to beput on a path toward"financial independence" as they grew up.
In the podcast, Dalio encouraged listeners to consider that money has virtually no value unless it helps a person achieve their life goals — and it helps to know what those are in starting a career.
"What is that going to get you? Does that get you better friends? Does that get you a better marriage, a better relationship with your kids? What is your definition of success?" Daliosaid.
"Success is you knowing your nature, and then finding the best path through that nature, so that you look back on that and you say, 'Ah, that was the life I wanted to have.'" Dalio said he's heard from people who feel "stuck" in jobs they don't enjoy or trapped working under bosses they despise.
However, he believes people can break out of unhappy circumstances to achieve success in ways they hadn't imagined before.
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