Billionaire: Quit these 4 bad habits to start actually achieving your goals (part 2 of 2) (2 min read)
"Your choice of goals will determine your direction," Says Billionaire Ray Dalio. "There is always a best possible path. Your job is to find it and have the courage to follow it."
Of course, goal-setting, isn't always easy either and mistakes can have lasting impact. So to set the best, clearest goals, here are the third and fourth pitfalls to avoid, according to the 69-year-old hedge fund magnate.
3. Focusing on the wrong reward
The motivation behind your goals should be about more than money, Dalio writes.
"Don't mistake the trappings of success for success itself," he advises. "Achievement orientation is important, but people who obsess over a $1,200 pair of shoes or a fancy car are very rarely happy because they don't know what it is they really want, and hence what will satisfy them."
Indeed, many successful entrepreneurs agree they were motivated by fulfillment, not money. Apple CEO Tim Cook, Richard Branson and even Warren Buffett are among the business leaders who advocate for finding meaning outside of wealth.
"Don't work for money — it will wear out fast, or you'll never make enough and you will never be happy, one or the other," Cook said in 2017.
4. Not dreaming big enough
When it comes to setting your goals, the sky is the limit. There are a few exceptions, like "playing center on a professional basketball team if you're short, or running a four-minute mile at age 70," Dalio writes, but aside from that there is no dream too big to tackle.
"What you think is attainable is just a function of what you know at the moment," he writes. "Remember that great expectations create great capabilities. If you limit your goals to what you know you can achieve, you are setting the bar way too low."