Clarifying Stoicism and Its Applications in Finance

This chapter clarifies the misconception about stoicism, highlighting its focus on intentionality, empathy, and personal growth rather than suppressing emotions. It also delves into applying stoic principles to investments, financial decisions, and tools like Monarch Money for budgeting and collaboration.

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The road to financial independence isn’t always linear, but stoicism might be the secret ingredient that keeps you on track. This ancient philosophy gets a bad rap, but with its framework as your financial “operating system,” you’ll be able to weather all kinds of storms!

Welcome back to the BiggerPockets Money podcast! Today, Darius Foroux is a business owner, landlord, financial educator, and the author of eight books. But as a boy, he watched his family live paycheck to paycheck for many years. Vowing to one day become wealthy, Darius started saving every penny possible, only to find that practicing staunch frugality could only take him so far. After more than a decade of hard work and sacrifice, he had just $10,000 to his name and, after student loans, a negative net worth. But in 2015, Darius made a seismic mindset shift that propelled him to FI in just FIVE years!

In this episode, Darius dispels the myth that stoicism is about suppressing emotions and lacking empathy. Instead, you’ll learn that its tenets revolve around creating balance, staying grounded, and changing how you respond to things beyond your control—virtues that are congruent with building wealth. But that’s not all. He will also show you how to increase your income, gain a “stoic edge,” and invest your money in 2024!

In This Episode We Cover

How Darius went from a low net worth to financial independence in FIVE years

Why reaching FI is easier with stoicism as your “operating system”

Why investing in yourself and learning new skills is the KEY to higher income

The three steps for gaining a “stoic edge” that helps you build wealth faster

The BEST way to start investing in the stock market in 2024

And So Much More!

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