Welcome to Wise & Wealthy: A weekly newsletter full of proven ideas to become smarter and wealthier. I send this every Monday and every other Thursday.
#30 – September 8, 2022
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Wise: Philosophy for life
How do you balance ambition with happiness? When you’re overly focused on the future and always want to accomplish more, it’s very difficult to be happy today. After all, nothing is enough.
To deal with that dichotomy, I’ve adopted a philosophy for life I call “Short-term contentment. Long-term hunger.”
Today, we can be grateful for what we have and be at peace with the way our life is. And at the same time, we can have a hunger for improving ourselves in the future.
Let’s take getting rich, for example. For most people, it takes decades to build substantial wealth. And many people are unhappy until they become rich.
But not if you live by the philosophy of “Short-term contentment. Long-term hunger.” You’ll invest, work hard, learn new skills; but you also enjoy a simple life.
This is one of the secrets of living a happy and wealthy life.
Wealthy: Investors never change
There’s a lot of fear this year that the stock market will no longer be the same because monetary policy is changing and there’s more global friction. I find that hard to believe.
We’ve experienced many world-altering events in history, and yet, investors have done what they always do: Invest.
People invested before, after, and through The Great Depression, WWII, inflation of the 1970s, Dotcom bust, 9-11, The Financial Crisis, and all the other big events that supposedly should’ve changed investor behavior.
Why does investor behavior never change? Because investors are humans. And our behavior doesn’t change.
We just get back to our innate routines, whether they are good or bad (it’s mostly good; otherwise we wouldn’t be here).
To be a good investor, we should not only focus on learning the fundamentals or technicals of investing, we should also learn about the behavior of humans.
If you’re waiting to see how the world will change, you can wait forever because the world might change, but our behavior doesn’t. Just invest through it all.
One interesting thing
Today I have a language learning tip I accidentally discovered. I’ve been learning Spanish for the past 1,5 years. By now I’ve learned the foundation and I’m focused on vocabulary and advanced grammar.
A lot of people say, “Watch Spanish language tv.” I don’t watch tv, nor do I consume a lot of entertainment so I’m very aware of what I watch. And I simply like American shows (Better Call Saul is one of my favorite recent shows).
A great way to still learn is by using Spanish subtitles on movies and tv shows I watch.
I can pick up Spanish words and phrases while I’m also relaxing. It’s not a super fast learning technique, but I find it very helpful. And it’s a great use of time.
Thanks for reading! I hope you found this edition of Wise & Wealthy useful.
All the best,
Join the 7-day Stay Centered challenge
I’ve created a one-week email course that you can do together with a group. It’s called Stay Centered, and it will help you to reclaim focus and live a meaningful life.
When you’re centered, nothing can hurt you. You will have inner peace no matter what happens.
How to unlock Stay Centered
You can join the challenge for free. Every day, you’ll receive a short email with a small challenge that inspires you to live better.
I highly recommend sharing it with your friends so you can go through the program together. I did it with my team, which was a lot of fun.
Join here: dariusforoux.com/stay-centered