Trending
In a world where financial strategies are constantly evolving, we often look to modern-day experts and trends to guide us. But what if we told you that some of the greatest wealth-building lessons could be found in the teachings of a Roman emperor? That’s right Marcus Aurelius, known for his stoic philosophy and leadership prowess, holds timeless principles that can transform the way you approach personal finance.
While he ruled the Roman Empire nearly 2,000 years ago, his wisdom on discipline, decision-making, and managing the uncontrollable can give us valuable insights into how we can secure and grow our wealth today. In this article, we’ll explore why Marcus Aurelius is the perfect financial partner and how his stoic principles can lead you to lasting financial success.
What was the philosophy of Marcus Aurelius?
Stoicism is an ancient philosophy that emphasizes rational thinking, self-discipline, and focusing on what is within our control. Developed in Athens and later embraced by Roman thinkers like Marcus Aurelius, Stoicism teaches that external events are beyond our control, but our responses to them are entirely up to us. By cultivating resilience, patience, and wisdom, we can navigate life’s challenges - including financial ones - with clarity and confidence.
1. Control What You Can Control
Stoic Idea: One of the core tenets of Stoicism is the idea of focusing only on what is within our control and accepting what is outside of our control. Marcus Aurelius repeatedly emphasizes this in his Meditations.
Financial Lesson: In personal finance, this means focusing on your savings rate, your spending habits, your investments, and your financial education. You can’t control the stock market or interest rates, but you can control how much you save, where you invest, and how you prepare for the future.
Practical Tip: Set realistic financial goals and focus on actions you can take every day, such as budgeting, saving, and investing, rather than stressing over market volatility or external factors.
2. Embrace Delayed Gratification
Stoic Idea: Marcus Aurelius practiced and promoted patience and self-discipline. The Stoics believed in embracing hardship in the short term for the greater good in the long term.
Financial Lesson: The principle of delayed gratification is crucial in finance. Building wealth often requires resisting the urge to make impulse purchases or take on debt. Instead, it’s about saving consistently, investing wisely, and resisting the pull of immediate pleasure for long-term stability and success.
Practical Tip: Create a budget that allows you to prioritize saving and investing before spending on discretionary items. Acknowledge that wealth-building takes time and discipline, and focus on long-term rewards.
3. Memento Mori: Live with the Awareness of Mortality
Stoic Idea: "Memento mori" translates to "Remember that you will die." Marcus Aurelius often reflected on mortality to help focus on what truly matters in life.
Financial Lesson: While it may sound morbid, this awareness can serve as a powerful motivator to plan for the future and make decisions that prioritize long-term financial security. By remembering that life is finite, we can better understand the importance of retirement savings, life insurance, and creating a legacy.
Practical Tip: Consider your financial goals from the perspective of your legacy. Make sure you’re not just living for today but building a secure future for your loved ones and contributing to the causes that matter to you.
4. Keep a Calm Mind During Financial Chaos
Stoic Idea: Marcus Aurelius wrote extensively on maintaining inner peace and clarity, especially during chaotic or difficult times. The Stoic mindset encourages detachment from external events, which means not reacting impulsively to stress or emotional turmoil.
Financial Lesson: In finance, this translates to remaining calm during market downturns, economic uncertainty, or financial crises. Investors who panic during market volatility often make poor decisions, such as selling off investments at the wrong time. Staying level-headed and sticking to your plan is key to long-term wealth-building.
Practical Tip: When market swings or financial stress arise, remember to take a step back, breathe, and assess the situation calmly. Avoid emotional decisions that could negatively impact your financial health in the long term.
5. Focus on Virtue, Not Always External Rewards
Stoic Idea: Marcus Aurelius and the Stoics believed that true happiness and fulfillment come from virtue and inner strength, not from external wealth or accolades. The idea is to cultivate wisdom, courage, justice, and temperance.
Financial Lesson: While money is essential for security and achieving goals, it should not be the primary driver of your happiness or life satisfaction. True wealth comes from aligning your financial decisions with your values and living a life that is meaningful and balanced.
Practical Tip: Regularly assess your financial goals and how they align with your values. Are you saving for things that truly matter to you, or are you pursuing wealth for external validation? Make sure your financial plan reflects your long-term purpose, not just material gain.
The power of reflection and self-awareness is at the heart of both Stoic philosophy and sound financial decision-making. By applying Marcus Aurelius’ principles - controlling what you can, embracing patience, planning for the future, staying calm in financial turmoil, and prioritizing virtue over material wealth - you can build a financial future that is both stable and fulfilling. True financial success isn’t just about accumulating wealth; it’s about achieving peace of mind and living according to your highest values.
So, take a page from Marcus Aurelius’ Meditations, and start building your empire - one wise financial decision at a time.
Related: How Home Equity Is Shifting From Afterthought To Essential Retirement Strategy