Episodes
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There are 3 rules to become wealthy and still live like a Stoic. Because, if youâre like me, we donât really aim to become famous or own fancy cars.
We simply want to build wealth so we can have peace of mind. Thatâs the key to a wealthy and satisfying life.
In this video, I talk about the 3 Stoic rules to achieve the above. Weâll dig into thriving in a winner-takes-all economy, breaking through misfortune and bad things in life, and becoming more resilient through the regular meditation on loss.
When we follow these 3 Stoic rules, we give ourselves the mental capacity for growth - which is the key to progress and inner fulfillment.
Grab your copy of The Stoic Path to Wealth here:
http://stoicpathtowealth.com/
#Stoicism #WealthBuilding #PeaceOfMind #Resilience #Meditation #PersonalGrowth #InnerFulfillment #StoicPhilosophy #MentalStrength #LifeAdvice
Timestamps:
00:32 - 3 Rules to become wealthy and live like a Stoic
00:48 - About Me and The Stoic Path to Wealth
01:06 - Rule #1: Demand the best of yourself
01:38 - What is Stoicism? Itâs a framework for living. (And a very simple philosophy to follow)
02:30 - What does this First Rule do to you in terms of wealth? (Winner-takes-all economy)
04:09 - How to get value + inner satisfaction while earning more
05:33 - Rule #2: Misfortune is actually fortune
06:18 - Marcus Aurelius on the impediments to life
08:15 - Looking at the bad things that happened to you as fuel/wealth
09:13 - Rule #3: Thinking about loss makes you tougher
09:44 - Seneca on the foresight of loss
10:29 - Regularly meditate on taking losses
11:23 - âIâll be fineâ mindset
12:29 - Why a lot of folks stagnate, at some point, in their careers
13:18 - The key to all three rules
13:42 - Why people in todayâs world are not progressing
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What does it mean to be wealthy? It's a common belief that being wealthy means having lots of money. Thatâs true on some occasions, but itâs not always the case.
My book âThe Stoic Path to Wealthâ, introduces another way of looking at life. This is the first book that combines wealth building and investing with Stoicism. Because the Stoic philosophy is about focusing only on what you can control and disregarding anything else. Itâs a philosophy you can apply to every aspect of your life, especially wealth.
To lead a wealthy life while remaining Stoic is to manage your emotions and focus on what you can do with your own money. In this video, I will summarize the most important points of The Stoic Path to Wealth.
Grab your copy of The Stoic Path to Wealth here:
â http://stoicpathtowealth.comâ
#WealthBuilding #Stoicism #Investing #FinancialFreedom #StoicPhilosophy #PersonalFinance #MoneyManagement #TheStoicPathToWealth #EmotionalIntelligence #LifePhilosophy
Timestamps:
0:10 - My investment journey
0:58 - To become financially independent is the ultimate goal in life
1:27 - About me and The Stoic Path to Wealth
2:20 - Having a sense of financial independence gives you a lot of confidence
3:00 - The reason I wrote this book
3:25 - Other ways of becoming wealthy other than having a lot of money
4:58 - Why you need to invest
5:34 - The problem with not investing
5:54 - You need to own assets
7:30 - Divorce your time with your income
8:00 - This book is a way of life
8:15 - Money isnât evil
8:50 - The key to building wealth is to manage your emotions
9:02 - Stoicism is to focus on what you can control
9:24 - Stoicism was a philosophy primarily for wealthy people (but not anymore)
10:30 - We are all rich
11:07 - You can apply Stoicism to every single area of your life
13:27 - The key to becoming wealthy in a Stoic way is by acquiring the Stoic Edge
13:35 - The best investors say you need to have an Edge
13:45 - Size Edge
15:08 - Quant Edge
16:47 - History really matters
17:20 - Information Edge
18:02 - This is very difficult in today's period
18:24 - The Stoic Edge is easily attainable
19:21 - Simply buy an S&P 500 index fund
20:31 - Principle 1: Valuable skills are better than money
21:31 - Focus on becoming the best at what you do
22:08 - Form the habit of investing by starting out early with any amount that you can miss
22:47 - If you look at yourself as an investor, you will take it more seriously
24:22 - Principle 2: Accept loss
25:11 - The stock market is either going up or going down
26:24 - Be comfortable with short-term losses
27:32 - Let the money do itâs work for you
28:36 - As long as the economy keeps going up, the stock market will also keep going up
30:06 - Changing your mindset when it comes to taking losses
30:32 - You have to manage your greed
31:45 - Principle 3: Compound your money
32:20 - You canât really count on short-term results
33:05 - To truly compound your money, you need a certain confidence
35:50 - Final Message
36:56 - Itâs not a matter of âifâ you become wealthy, itâs a matter of âwhenâ
37:51 - Make sure that you live in the present moment
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Missing episodes?
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In this episode, I share my answers to the most frequently asked questions about my new book, The Stoic Path to Wealth.
Enjoy!
Grab your copy of The Stoic Path to Wealth: stoicpathtowealth.comâ
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How can you become a wealthy Stoic? Stoicism is about living a simple, virtuous life. Thatâs why many people have the misconception that being Stoic means refusing material wealth.
But thatâs not the case. The other thing about Stoicism is focusing on what you control and ignoring everything else. This is how you live a wealthy life while remaining Stoic.
Epictetus, the only Stoic philosopher who wasnât born into wealth (he was a slave), said it well:
âIf you can make money remaining honest, trustworthy, and dignified, by all means do it. But you donât have to make money if you have to compromise your integrity.â
In this video, I give you practical techniques and strategies to get better at investing, whether youâre a beginner or experienced investor.
These tips will ensure you stick to Stoic principles while building long-term wealth.
#Stoicism #WealthBuilding #InvestingTips #StoicPhilosophy #FinancialFreedom #TheStoicPathtoWealth
Timestamps:
00:28 - How to combine wanting to be wealthy, while following Stoicism
00:52 - About Me and The Stoic Path to Wealth book
01:27 - This is the first book that combines Stoicism and Investing & Wealth
01:35 - Three techniques you can apply to become a better investor
02:15 - Epictetus quote on making money without compromising your integrity
02:55 - Itâs possible to make money in an honest way
03:22 - You donât have to make a lot of money to become wealthy
04:12 - 3 Stoic Techniques that will make you a better investor
04:20 - Stoic Technique #1: Always cap your losses
05:47 - Juvenal quote on the gradualness of progress or loss
07:02 - Stop-loss in trading
08:03 - If you decide to buy something⊠(A lesson from Jesse Livermore)
09:20 - What it means to invest for the long-term
11:10 - No one knows what will happen in a year or two. But long-term, itâs going up.
11:54 - Stoic Technique #2: Make it worth it
13:04 - Making $500 or $1000 is not worth it
14:31 - Can you go from $50K to $500K income within a few years?
15:30 - Professional traders always think about this
16:22 - Stoic Technique #3: Pick a strategy that you can maintain for 30 years
17:50 - âLive a frugal life and then retire earlyâ is not a sustainable strategy
18:44 - Separate your character from your money/net worth
19:08 - Wrap up
20:02 - The greedy ones: Avoid them
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In my experience, you do your best work when youâre in a good mood and youâre focused.
You can also look at it as being a state of âFlow,â which is a term the psychologist Mihaly Csikszentmihalyi coined.
You can get in a Flow mind-state by having the right balance between challenge and skill level.
How do you know you have Flow? When work is effortless and youâre making progress.
Iâm finally in that state as Iâm writing this after being out of it for a few months. I was dealing with major renovations at my home, and then, I had to do a lot of small tasks here and there for my upcoming book.
Once I finished my most pressing tasks, my goal was to get into Flow again. I took it easy. Fiddled a bit. Read some books. And journaled a lot.
âGetting closeâ is something I wrote about often. And then, a few days ago, it hit me: Ignore all the noise and only focus on writing.
So thatâs what Iâm doing now. Plus, I combine it with another productivity strategy, the Pomodoro technique. When you do that, you have the ultimate productivity stack.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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I wanted to be rich so bad for my entire life.
In high school, I watched Wall Street with Michael Douglas and Charlie Sheen. It was supposed to be a cautionary tale but I saw it as inspiration.
I wanted to be Gordon Gecko, the crazy high risk Wall Street trader. When I was 17, I got a job at a call center during the summer.
I was on the phone every day, working double shifts. I was selling mobile phone subscriptions to people, mostly elderly. It was a shameful job but I was making money. So I felt good.
This is how badly I wanted to get rich. But I was a teenage idiot.
Now, 20 years later, I finally understand that being rich and having a lot of money is not the same as being wealthy.
You can also be rich and not wealthy.
At some point, we all realize that life is just a collection of our memories.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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I analyzed three of Warren Buffett's biggest stock picks (GEICO, Coca-Cola, Apple) and drew lessons from that. By understanding the thought process of his stock picks, we can emulate his mindset.
Whether youâre a passive or active investor, we can all use a little bit of âWarren Buffettâ in our strategy.
You probably wonât be surprised by the conclusion of this article: Have patience, be diligent, avoid greed, and bet on a prosperous future.
We all know what it takes. But the key is to internalize these ideas.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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I think having a sene of urgency and responsibility when it comes to your career is one of the biggest motivators.
But if you put too much pressure on yourself to succeed, it can work against you. This is a dynamic that Iâm constantly trying to balance.
Last year, when I finished the final draft of my new book, The Stoic Path to Wealth, I immediatly started thinking about the marketing campaign.
My self talk included a lot of âI need to doâ xyz. And then, I would think, âIf I donât do this, the book wonât succeed.â
This type of âI need to do X (action) otherwise y (bad outcome) will happenâ thinking is a complete and utter waste of your energy.
And you must avoid it as soon as you become aware of it. Hereâs what Epictetus said about that:
âIf you want to make progress, dismiss this kind of reasoning: âIf I neglect my business, I will have nothing to live on.â It is better to starve to death in a calm and confident state of mind than to live anxiously amidst abundance.â
The truth is: You donât need a lot to have happiness and peace.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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If you spend an hour on Twitter or Instagram, you almost believe that everyone can get rich quickly.
âStart an AI company or write content online. Youâll make $500K a month, just like me!â
The idea that success can be duplicated is one of the oldest fallacies in business and money. Just because a certain blueprint worked for Person A, it doesnât mean it works for Person B.
This is also why a lot of smart people are not wealthy. Over the past two years, Iâve been getting emails every week from disillusioned writers.
They say they fell for the dream that these social media prophets talk about everywhere. They realize success is not only about skill, itâs also a matter of talent and luck.
And the interesting thing is that all these people are smart. After all, it sounds so logical. If someone else did it, you can do it too, right?
Well, not with everything. More on that in my other new article.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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I seriously started practicing Stoicism when I was 28. Thatâs when things started to change in my life. That was in 2015. Since then, Iâve become happier every year.
9 years after I started living as a Stoic, I can wholeheartedly say that happiness is a muscle that gets stronger the more you train it.
In this episode, I share 5 of the most useful Stoic principles with you. Hereâs my favorite, which is based on a quote from Epictetus:
âOur master is anyone who has the power to implement or prevent the things that we want or donât want.â
Too many of us are slaves to external validation and signaling. The Stoics reminded us to focus inwardly. To be driven by virtues. And to ignore societyâs status game.
Your self-worth should be determined by yourself, not by the car you drive, job, or vacation spots you visit.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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My parents bought their first house in 2000. My mother told me that one of their family members broke ties with my parents because of that.
Certain people think that buying a house is not for everyone. Those types of people also believe that higher education is not for everyone. Or that owning stocks is only for rich folks.
These are examples of mental barriers.
So many of us have false beliefs about money and life. And those false beliefs can prevent us from ever living a good life. This is where Stoicism and mindfulness can help us.
By becoming more self-aware, we can prevent ourselves from falling into the trap of mental barriers.
In my latest article, I share 7 mental barriers that I personally had to overcome in my life.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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Iâve been writing about the philosophy of Stoicism since 2015. A Stoic mindset has truly changed the way I do everything.
I apply Stoicism to my happiness, work, finances, and even relationships. This Stoic mindset allowed me to leverage ancient lessons into my entire life.
The other day I was talking about this change with a friend. He asked me: âWhat does the Stoic mindset really mean?
Let me explain. Incorporating Stoicism into my daily life is something that I still work on.
Every time I record a podcast I remind myself: âYou donât control how many people will read it or whether they will like it or not.â
And now that Iâm working on the marketing of my next book, The Stoic Path to Wealth, I occasionally catch myself fantasizing about book sales.
Of course, who doesnât want to do well in their career? But ultimately, itâs not up to us.
We can only pour everything into our work, and what happens next is beyond us.
This shift has not only improved my productivity but also the quality of my work.
In my personal life, Stoicism also gave me a different perspective.
I always strive to be a positive force in my own life and the people around me. I make sure I always have good intentions. To be a good person. And to wish others the best.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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My new book, The Stoic Path to Wealth, is coming out on July 16th.
This book is the most comprehensive guide on how to build wealth that will last your entire lifetime, and beyond.
If you pre-order the book, you will instantly get access to the following products:
1. The Stoic Success Course
This is a brand new video course that shows how to improve your health, wealth, and happiness by applying practical lessons from Stoicism.
2. Effortless Learning Podcast
This is a limited podcast series I recorded which will help you to boost your personal growth and learn skills faster, with less effort.
3. Inner Fortress Magazine
This is a digital magazine that I wrote and designed for the launch of The Stoic Path to Wealth. The magazine includes tips to cultivate resilience and inner peace.
4. Inner Circle Newsletter
Finally, everyone who pre-orders the book gets free access to my secret newsletter. This is where I share my latest and most important insights.
Pre-order the book now and get instant access to exclusive bonuses here:
members.dariusforoux.com/stoic-path
To get your bonuses, simply forward your purchase receipt to [email protected].
Within minutes, my team will reply with instructions on how you can access the bonuses.
This offer applies to all formats of the book and all bookstores globally. There are no limitations or restrictions.
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Stoicism, an ancient Greek philosophy, is not just a guide for leading a virtuous and meaningful life; it can also be a roadmap to financial success.
Nearly all the prominent Stoics were well off, from the founder, Zeno, to the most prolific writer of the bunch, Seneca. In fact, you can argue that Stoicism was for wealthy people at the time.
This is why itâs such a popular philosophy today.
We have so many resources at our disposal that we donât even know what to do with them. We live in a world where boredom is widespread.
Now, hereâs the main concern with the pursuit of wealth. If your only reason to acquire money is so you can a fancier car, go on more luxury vacations, and wear better clothes, youâre missing the point.
I believe that Stoicism should (and must) be applied to money because without a Stoic mindset, one will succumb to greed.
In my latest episode, Iâll share a few ways you can get rich without getting greedy.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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Iâm very introverted. I truly enjoy (and need) time alone. Too much social contact drains my energy.
One misconception about introverts is that they lack confidence. People falsely assume that we donât want to be around others for that reason.
In her book, Quiet, psychologist Susan Cain calls that concept the âExtrovert Ideal.â Itâs the widespread belief that being outgoing, assertive, and socially proactive makes a person successful. As it turns out, introversion has its own set of strengths and advantages.
According to Cain, some of these strengths include better problem-solving skills, more creativity, empathy, and the ability to work independently.
In my experience, we can all benefit from cultivating the introverted side of us. When we nurture that by spending more time alone, we actually become more self-confident.
We no longer look for external validation. We gain more appreciation for ourselves. More on that in my new article.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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The habit of journaling may seem small and insignificant. âHow can writing personal notes in my journal every day do anything for me?â You might ask.
I understand the skepticism. Even I had some doubts in the beginning. But journaling truly can change your life.
Just ask any person who journals. You wonât find a person who says, âJournaling is so-so.â
Everyone who does it loves it.
Since 2015, I have made journaling an integral part of my morning routine, and it has helped me succeed in various areas of my life. I also grew happier.
In this episode, I share four techniques that I keep turning to in my journaling practice.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â stoicpathtowealth.comâ
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I have a love/hate relationship with impatience.
I love it because it has helped me to accomplish things in my career. When something needs to be done, I do it immediately. I just can't wait.
But that approach is not helpful when it comes to your finances. To build proper wealth, you need patience.
You can read about investing and compounding as much as you want. But unless you don't have the patience to let your money compound, you can never reap the benefits.
This is something I had to learn. To all my fellow impatient-natured people, learn the art of patience. It will help you immensely in life.
Listen to learn more!
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â â stoicpathtowealth.comâ
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Essentially, making money from your passion is all about solving a problem or need. And getting paid for it. Whether itâs through a product or service, your focus should always be on providing value to your customers.
Look at the Patagonia brand. The founder, Yvon Chouinard, saw a need for high-quality outdoor gear that was environmentally friendly and decided to fill that gap. By focusing on providing value, he was able to build a loyal customer base and become recognized as an industry leader.
In my case, I started writing and publishing free articles on self-improvement that people found to be useful. Eventually, they subscribed to my newsletter. Some folks bought my books and courses, which is how I earn a living.
On this journey of making money, stay authentic.
Your passion is what sets you apart from others in your field. Donât try to imitate someone else or follow the latest trends just to make money. People are drawn to authenticity, which will help you create a unique brand.
In this episode, I share more about the importance of authenticity.
More tips on making money from your passion:
https://dariusforoux.com/making-money-passion/
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â stoicpathtowealth.comâ
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The German philosopher Friedrich Nietzsche wrote this in his book, The Gay Science, about purpose:
âGradually, man has become a fantastic animal that has to fulfill one more condition of existence than any other animal: man has to believe, to know, from time to time why he exists; his race cannot flourish without a periodic trust in lifeâwithout faith in reason in life.â
Nietzche said that we need to have some kind of trust in life. Just surviving, eating, working, and procreating are not enough.
The purpose is the compass that guides us through life. Itâs not about achieving grandiose goals or accumulating material wealth.
Itâs about finding fulfillment in what we do and making a difference.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â stoicpathtowealth.comâ
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Smartphones have become an extension of ourselves. We use them for almost everything - from staying connected with friends and family, to managing our schedules and even for entertainment.
A recent study showed that the average person spends around three hours a day on their phone, which adds up to a staggering amount of 45 days a year.
People are glued to their screens most of the time. Thereâs a constant need to check notifications, scroll through social media feeds, and respond to messages. This isnât just bad for our mental health. It also distracts us from doing and finishing our work on time.
For the sake of our personal well-being and productivity, we need to reduce the time spent on our phones.
In this episode, I talk about how you can do that.
Pre-order The Stoic Path to Wealth
My new book is coming out July 16th. It shows you how to build enduring wealth in the stock market.
Learn more: â stoicpathtowealth.comâ
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