CNBC Television published this video item, entitled “Ray Dalio: Follow these 3 rules to succeed” – below is their description.
Bridgewater Associates founder, Ray Dalio, explains his three rules to success. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
Ray Dalio is perhaps best known for his achievements at Bridgewater Associates, the world’s largest hedge fund, which Dalio started in his New York City apartment in 1975.
While the world of hedge funds is complex and intimidating, Dalio keeps his rules to success simple and straightforward. “First, you have to know how to make more money than you spend. Second, you have to know how to take that savings and invest it well. And third, you have to be able to know how to diversify in order to invest it well.”
One of the first steps to getting your personal finances under control is to see how much money you’re earning and how you are spending. Once you understand those figures Dalio says you need to figure out how many months of emergency savings you need to live off. “Savings equals freedom and security. How much freedom and security do you need?” Dalio told CNBC Make It last year.
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