The Darius Foroux Show: Mindset, Business, Money – Details, episodes & analysis

There are 3 rules to become wealthy and still live like a Stoic. Because, if you’re like me, we don’t really aim to become famous or own fancy cars.

We simply want to build wealth so we can have peace of mind. That’s the key to a wealthy and satisfying life.

In this video, I talk about the 3 Stoic rules to achieve the above. We’ll 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? It’s 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 - “I’ll be fine” 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 today’s world are not progressing

What does it mean to be wealthy? It's a common belief that being wealthy means having lots of money. That’s true on some occasions, but it’s not always the case.

My book “The Stoic Path to Wealth”, 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. It’s 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:

⁠http://stoicpathtowealth.com⁠

#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 isn’t 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 it’s 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 can’t really count on short-term results

33:05 - To truly compound your money, you need a certain confidence

35:50 - Final Message

36:56 - It’s not a matter of “if” you become wealthy, it’s a matter of “when”

37:51 - Make sure that you live in the present moment

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: ⁠⁠stoicpathtowealth.com⁠

Price’s law is something that can truly change the outcome of your life and career. It can make you or BREAK you. On this episode, I explain why that is and how you can use it to become successful. The rule says: 50% of the work is done by the square root of the total number of people who participate in the work. I didn’t know about Price’s law until recently when I watched a lecture by Dr. Jordan Peterson, psychology professor, and author of 12 Rules For Life (https://amzn.to/2Iodkgf). Understanding the underlying idea of Price’s law can make your life a lot easier. Look at your current profession. Are you in a position to create substantial value? If the answer is no, move on to a different place where you CAN. Become very good at what you do. That’s the only way you can provide value. We must be realistic. There are no shortcuts. It takes time to be good—let alone be great. When you provide more value, you feel better, plus you’ll earn more. Not a bad side-effect of doing great work. Look, life is not symmetric nor linear. Only a few people in every domain are responsible for half of the results. Hence, find the domain YOU can be the important minority — you’ll also get the majority of the benefits. Then, let me know if your life isn’t better. Thanks for listening! P.S. Don’t have time to read books? Try Blinkist, my favorite accelerated learning app, for FREE: https://blinkist.com/darius I use this app every day to learn something new. They create quality summaries of top non-fiction books. ----------- Get my latest book, The Road To Better Habits, for free. In the book, I will show you a simple framework your can use to transform your habits. Excited to transform your life by transforming your habits? Get the book here: http://dariusforoux.com/better-habits/ ----------- Connect With Me Newsletter: https://dariusforoux.com YouTube: http://www.youtube.com/c/DariusForoux Instagram: https://www.instagram.com/dariusforoux/ Twitter: https://twitter.com/DariusForoux Facebook: https://www.facebook.com/dariusforoux/

One of the best strategies to build a career is to acquire valuable skills. I learned about this concept from How To Fail At Almost Everything and Still Win Big by Scott Adams. He calls this concept Talent Stacking (I don’t like the word talent because it implies nature, I prefer skill because it implies nurture), and writes: “Successwise, you’re better off being good at two complementary skills than being excellent at one.” You simply have more chance of career success if you have more skills. Think about it. If you’re a one-trick pony, your opportunities are limited. But if you have multiple skills, you’re simply more valuable. And that’s what career success is ultimately about. It comes down to value. How much value can you give to people or organizations? “What Skills Will Make Me More Valuable?” 1. Productivity—My whole blog’s focus is on productivity for one reason: When you’re a person who can get shit done, you will always find a way. With solid productivity skills, you can learn anything. That’s why I think it’s the first thing we must learn because it makes developing all the other skills a lot easier. Put simply: Productivity is the mother of all skills. 2. Writing—The ability to translate your thoughts into words makes it easier to do our job. When you write in a clear and simple way, you can express yourself like very few people can. 3. Psychology—A basic understanding of why we do what we do can help us to understand ourselves and others. You don’t have to become a therapist. As long as you know the basics of psychology, you’re better at dealing with other people; and yourself. 4. Persuasion—This is the art and science of communicating in a way that resonates with people. When we’re good at persuasion, we are better at leadership, sales, holding conversations, public speaking, at anything else that requires influencing others. Influence is more about effective communication than anything else. 5. Personal Finance—We often don’t think about managing our money. But when we get closer to retirement, we think, “Why didn’t I start earlier.” The time to start managing your personal finance is NOW.  Thanks for checking out this episode! Get my eBook “Six Figure Pitching” for free. In the book, I share my 7 best email templates that you can use to increase your conversions, get published in top publication, and improve your email open rates. Get the book here: https://businessofblogging.net/six-figure-pitching/ ----------- Connect With Me Website: http://businessofblogging.net Podcast: https://dariusforoux.com/podcast/ Instagram: https://www.instagram.com/dariusforoux/ Twitter: https://twitter.com/DariusForoux Facebook: https://www.facebook.com/dariusforoux/

I might as well ask you: “Can you ever be done with eating food?” “Of course not!” you would probably answer. Well, some people actually believe they can be finished with personal development. They stop reading books or quit going to the gym. These are the people who follow trends. We need to realize that life is built from fundamentals and that it does not consist of some popular thing that’s hot at the moment. Once we identify those fundamentals, we can start to improve and strengthen them to establish longevity. How? By repeating them. Over and over again. Then, over time, those fundamentals turn into a strong lifestyle. All you need is patience. And before you know it, you are the person who continually dedicates his life to becoming better. No temporal hot thing can seduce you. Nothing halts your improvement; you’re part of a process that ends when life ends. Thanks for listening! P.S. Don’t have time to read books? Try Blinkist, my favorite accelerated learning app, for FREE: https://blinkist.com/darius I use this app every day to learn something new. They create quality summaries of top non-fiction books. ----------- Get my latest book, The Road To Better Habits, for free. In the book, I will show you a simple framework you can use to transform your habits. Excited to transform your life by transforming your habits? Get the book here: http://dariusforoux.com/better-habits/ ----------- Connect With Me Newsletter: https://dariusforoux.com YouTube: http://www.youtube.com/c/DariusForoux Instagram: https://www.instagram.com/dariusforoux/ Twitter: https://twitter.com/DariusForoux Facebook: https://www.facebook.com/dariusforoux/

Writing every day has truly changed my life. Through writing, you reformulate important life lessons in your own words. And because of this repetition, the wisdom of life becomes your second nature. That’s when you live the ideas. So even though you are writing and talking to yourself, you ingrain the wisdom in your character so that it becomes a part of your character. To me, writing is the most effective way to make the intangibility of your thoughts real. And that’s one of the greatest things in life. Marcus Aurelius, one of the most well-known stoic philosophers often wrote for himself. And I encourage everyone to do it too. On this episode, I share tips that you can use to get started with journaling every day. Thanks for listening! P.S. Don’t have time to read books? Try Blinkist, my favorite accelerated learning app, for FREE: https://blinkist.com/darius I use this app every day to learn something new. They create quality summaries of top non-fiction books. ----------- Get my latest book, The Road To Better Habits, for free. In the book, I will show you a simple framework you can use to transform your habits. Excited to transform your life by transforming your habits? Get the book here: http://dariusforoux.com/better-habits/ ----------- Connect With Me Newsletter: https://dariusforoux.com YouTube: http://www.youtube.com/c/DariusForoux Instagram: https://www.instagram.com/dariusforoux/ Twitter: https://twitter.com/DariusForoux Facebook: https://www.facebook.com/dariusforoux/

How much time should I spend thinking instead of doing? It’s one of the biggest questions I struggle with. One side of me says “without doing you will never achieve anything.” Another side says “without thinking things through, you might end up doing the wrong things.” Thinking by itself is worthless because if you never do anything, what’s the use? And if you only act without thinking, you probably end up in jail or in a ditch. That's why this topic is so important. But most of us never even consider living by a thinking/doing ratio. I live by what I call “the 20/80 rule of effective thinking.” I think for most professionals in today’s age, that ratio of thinking vs doing is sufficient. Even though I'm a natural thinker, I need to remind myself to execute more than I think. Again, it’s not the ratio that counts, it’s the quality of your thinking. And ultimately, the quality of your thinking impacts the outcomes you achieve. Remember that poor outcomes in life are excusable but poor thinking and decision-making are not. How To Keep An Activity Log (article I talked about in the video): https://dariusforoux.com/know-thy-time/ Read more about Warren Buffett in Snowball by Alice Schroeder: https://amzn.to/2CopIbD ----------- Thanks for listening! P.S. Don’t have time to read books? Try Blinkist, my favorite accelerated learning app, for FREE: https://blinkist.com/darius I use this app every day to learn something new. They create quality summaries of top non-fiction books. Do you want to get my best productivity tips for free? I’ve made an eBook with 5 tips, exercises, and video training, that you can use to get immediate results. Curious? Get the book here: http://dariusforoux.com/productivity-secrets/ ----------- Connect With Me Newsletter: https://dariusforoux.com YouTube: http://www.youtube.com/c/DariusForoux Instagram: https://www.instagram.com/dariusforoux/ Twitter: https://twitter.com/DariusForoux Facebook: https://www.facebook.com/dariusforoux/

There’s this idea in Eastern and Western philosophy that we must learn how to enjoy the present moment without getting distracted by the past or future. But that's hard because our natural state of mind is to be lost in thought. We are constantly thinking, stressing, worrying, and being preoccupied by a force that seems outside of control. And if that's not bad enough, there are many external distractions that mess with our head. On this episode, I share how I stopped being distracted and started living in the present. Thanks for listening! P.S. Don’t have time to read books? Try Blinkist, my favorite accelerated learning app, for FREE: https://blinkist.com/darius I use this app every day to learn something new. They create quality summaries of top non-fiction books. Do you want to get my best productivity tips for free? I’ve made an eBook with 5 tips, exercises, and video training, that you can use to get immediate results. Curious? Get the book here: http://dariusforoux.com/productivity-secrets/ ----------- Connect With Me Newsletter: https://dariusforoux.com YouTube: http://www.youtube.com/c/DariusForoux Instagram: https://www.instagram.com/dariusforoux/ Twitter: https://twitter.com/DariusForoux Facebook: https://www.facebook.com/dariusforoux/

Laura has been writing about productivity since 2009. In her latest book, Off The Clock, she shares proven principles for getting more done so can have more free time. And we can use that free time to do the things we always wanted to do. Link to Off The Clock book: https://amzn.to/2EGaGhE Link to her website and podcast: https://lauravanderkam.com P.S. Prefer to get the summary of Off The Clock? Try Blinkist, my favorite accelerated learning app, for FREE: https://blinkist.com/darius