‘How does a 22-YO living in India start making money?’ asks Nikhil Kamath, ‘Just play the game!’ replies Ray Dalio

In a recent episode of Nikhil Kamath’s WTF is podcast, the Indian entrepreneur asked American billionaire and hedge fund manager Ray Dalio about how a young 22-year-old living in Mumbai can start making money.

How young Indians should actually “play the money game"

The 76-year-old finance expert replied shortly, ‘Just play the game!’

When Kamath further pressed on how he can play the money game, Dalio insisted that the person should leap into making money rather than just studying it.

“I think there is cerebral learning and visceral learning,” the American billionaire shared. “So, you can talk as much, but once you start playing the game, say little entrepreneur on the street corner selling something, you are playing the money game, right?”

According to Ray Dalio, whether you are in the public market or selling hot dogs, as soon as you start doing a job or business, you begin grasping the fundamentals of the trade.

He also insisted on surrounding yourself with people who are also “playing” the money game. The money expert Dalio also urged young people to search for their interests and start making money out of them. He added that his own grandchildren started selling hot cider in the winter in a park.

“And then they understand capital information that “I have to buy the flask” or “I have to buy the table”,” you see. They started to learn the incremental cost, the unit cost of production, etc,” he explained.

The billionaire also shared that there could be various interests and many “right” paths. So, you have to choose one for yourself and get started.

“That’s the process of going from wherever you are in India or elsewhere, that’s the process that allows you to grow and develop over a period of time,” Dalio said. “It’s very important to understand your nature. People have different pulls; some people are more risk-averse. Some people like to pay attention to the big picture. Others will handle risk. Others will pay attention to the details. What is your nature?”

Dalio further suggested taking a free online test called PrinciplesYou, which he created for people to understand their nature and connect to the right money-making path.

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