Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday.
#123 – May 6, 2024
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Wise: Personal benchmarks
Most people tend to either overestimate or underestimate themselves. We hardly ever have a well-rounded picture of our abilities.
Think about it: How often have you seen someone (or even yourself) claim to be good or bad at one thing, only to find that their result shows otherwise?
For example, you may think you’re a terrible public speaker, but when you actually give a presentation, people compliment you on your confidence and delivery. Or maybe you believe you’re an amazing cook, but your friends think it’s not that great.
This is because our personal benchmark often doesn’t match with reality.
And this can have both positive and negative effects on our lives.
When you overestimate yourself, you can get yourself into situations that are too challenging. But when you underestimate yourself, you will never challenge yourself enough.
More on why this matters in my new article.
↳ You’re Only as Good as Your Benchmark
Wealthy: Stoicism + wealth
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 it’s such a popular philosophy today.
We have so many resources at our disposal that we don’t even know what to do with them. We live in a world where boredom is widespread.
Now, here’s the main concern with the pursuit of wealth. If your only reason to acquire money is so you can buy a fancier car, go on more luxury vacations, and wear better clothes, you’re 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 article, I’ll share a few ways you can get rich without getting greedy.
One interesting thing
I’m currently reading Living Untethered by Michael A. Singer. It’s a book on living in the present moment. Singer has a great ability to make our mental suffering sound silly:
“There are no problems; there are just learning experiences. No matter what happens, you are becoming greater.”
So many of us have this tendency to make our problems bigger than they are. We get worked up every time life is hard. But it’s all a learning experience.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Darius
Join the 5-day Financial Freedom Challenge
I created a 5-day email course you can do alone or together with a group. It’s called the Financial Freedom Challenge. And it will help you to gain control over your finances.
Most people try to calculate their way out of poor finances. But money problems aren’t rational. They’re emotional. Manage your emotions well, and you’ll manage your finances better.
How to Unlock the Financial Freedom Challenge
You can join the challenge for free. For five days, you’ll receive a short email with a small challenge that inspires you to improve your relationship with money.
I highly recommend sharing it with your friends/family so you can go through the program together. It helps bring perspective. And it’s more fun that way too.
Join here for free: dariusforoux.com/financial-freedom