A recent LinkedIn post from Ray Dalio was filled with wisdom, so it merited a reproduction here in full. The post is more than self-explanatory.

Ray often says that “Pain + Reflection = Progress” - I believe that it isn’t enough. Reflection needs to be succeeded by some deliberate action. Otherwise, it is on point.

Whatever your nature is, there are many paths that will suit you, so don’t fixate on just one. Should a particular path close, all you have to do is find another good one consistent with what you’re like.

But most people lack the courage to confront their own weaknesses and make the hard choices that this process requires. Ultimately, it comes down to the following five decisions:

1. Don’t confuse what you wish were true with what is really true.

2. Don’t worry about looking good—worry instead about achieving your goals.

3. Don’t overweight first-order consequences relative to second- and third-order ones.

4. Don’t let pain stand in the way of progress.

5. Don’t blame bad outcomes on anyone but yourself.

— Ray Dalio