There is no correlation between how much money you make and how happy you are, so making money without a defined purpose for it is pointless.
Dalio argues chasing money for its own sake is empty because wealth has no intrinsic value and doesn't track with happiness; you need a clear purpose for why you want it. ✦ AI generated
Ray Dalio · My First Million · 2026-07-17 · original ↗
starts at this moment · 25:42
“What's the top?”
You work your ass off to get a lot of money. Okay. Just think about that. Is that it? What's the money for? 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.
verbatim transcript · starts at 25:42
25:23Sean that uh he had. He said, "I cannot say that having an intense life filled with accomplishments is better than having a relaxed life with savoring. Though I can say that being strong is better than being weak and that struggling gives one strength." Though that was pretty cool. >> That's true. [laughter] >> Yeah. I guess like you don't have to make it to the top to be happy. And I
25:42think that's been like our biggest >> What's the top? You work your ass off to get a lot of money. Okay. Just think about that. Is that it? What's the money for? 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. What is that going to get
26:05you? Okay. Does that get you better friends? Okay. Does it get you a better marriage, a better relationship with your kids? >> What is your definition of success? >> 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 him to have." >> Do you think that you could answer that
26:27for yourself? >> Uh, I tried to do it. I'll read what I wrote. So when I was 27 years old, I wrote I tried to write this out cuz I was like I think I had actually read your principles PDF around the same time and it made me start asking these questions cuz one of your core principles like figure out what you want and then understand the rules of nature.
26:45Study cause and effect to understand what patterns of behavior and actions might lead to the thing you want. So here's what I wrote. You can you can judge it. I said, "What I want out of life." I said, "I want to have the ability to shape my own life. I want to be my own biggest fan. I want to make adversity part of the recipe. I want to
27:00treat other people well. And I want to reread this every year, every morning, so I never forget what each day is for. I want to rewrite the list every year so I see myself evolving. I want to focus on what matters. Number one, my loved ones, cuz they love me, even if I don't do anything on this list. Number two, my health, because without it, I can't do
27:15anything on the list. Number three, my work, because it makes life fun. Number four, being somebody who lights up the room because it feels good to make others feel good. And number five, learning because it's the master key that unlocks all doors. And I I keep going a little bit and I say some of the things I'm weak at. I said, I want to be somebody who doesn't just want things,
27:29who makes them happen. I need my execution to catch up with my ideas. I want to be the most optimistic person, you know, um and I want to win, not but not just win. I want to win on my terms. Uh because that's the most satis satisfying way to do it. >> Congratulations. That's fantastic. >> And this was 10 years ago. [clears throat] Yeah. And then you you
- ·Working hard for money isn't the real goal
- ·Money itself carries no intrinsic value
- ·Question: what's the money actually for?
- ·Define your purpose before chasing wealth
- ·Ask what you'd do with the money
- ·Without purpose, earning money is pointless