How can you become a wealthy Stoic? Stoicism is about living a simple, virtuous life. That’s why many people have the misconception that being Stoic means refusing material wealth.
But that’s 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 wasn’t born into wealth (he was a slave), said it well:
“If you can make money remaining honest, trustworthy, and dignified, by all means do it. But you don’t have to make money if you have to compromise your integrity.”
In this video, I give you practical techniques and strategies to get better at investing, whether you’re 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 - It’s possible to make money in an honest way
03:22 - You don’t 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, it’s 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 - “Live a frugal life and then retire early” 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