The other day I read a thread on the Stoicism subreddit about the relationship between money and Stoicism. The majority of the commenters didnt buy that you could be Stoic and wealthy at the same time. Most folks dont think the concept of a rich stoic is possible.

In short, they said that Stoicism is about living a simple and stringent life. Theres no room for the pursuit of wealth in that lifestyle.

In this article, I will show you exactly why thats not true and how you can become wealthy whilst experiencing the mental benefits of Stoicism.

And Im going to do that by destroying the most common money myths. These are true not only for many followers of Stoicism but also for other modest humans who aim to live simple but rich lives.

Its true that the self-help, advice, pop psychology, and Stoicism industry is a billion-dollar-a-year industry.

Ive spent a lot of time reading the Stoicism and Philosophy Subreddits. And in general, theres a lot of skepticism when it comes to people who create content.

I agree with that skepticism. There are a lot of people who are only out for your money. They see the whole self-help industry as a simple way to earn money. And thats 100% true, especially if you look at the mind-numbing content on social media that attracts millions of views.

But that doesnt mean everyone who creates content is evil or isnt ethical. My two favorite authors in this space are Robert Greene and Tim Ferriss. The amount of wisdom that theyve collectively put out in the form of books, podcasts, and videos is enough to change the lives of millions of people.

Ferriss and Greene are, in my opinion, ethical creators. While I dont know them personally, from what I can tell, they are also very wealthy. But you can tell that their content comes from a good place. They are here to share what theyve learned from others. And along the way, they made a good living from it.

As Epictetus said, you must always be your own judge and choose ethics over money (which is what the mob is after):

You must be a unified human being, either good or bad. You must diligently work either on your own reasoning or on things out of your control-take great care with the inside and not whats outside, which is to say, stand with the philosopher, or else with the mob.

If you always take care of whats inside first, you will not be driven by whats outside.

Anyone who aims to be rich is a grifter or sellout, one person commented. Again, this is 100% true.

If your sole aim is to make money without explicitly making it clear, youre a grifter. A lot of false prophets disguise their ads as advice. They pretend they are helping people for free.

But they are simply using mass persuasion techniques to get to peoples wallets.

However, just because grifters want money, it doesnt mean money itself is evil. Or that money makes everyone evil.

Once again, we turn to Epictetus for answers. He said this about money:

If you can make money remaining honest, trustworthy, and dignified, by all means do it. But you dont have to make money if you have to compromise your integrity.

It might not seem like it, but you can certainly be honest and make money. Take the car salesman or realtor. Everyone says they cant be trusted. But is that true for all of them?

Of course not. Ive dealt with untrustworthy and dishonest realtors in the past. But Ive also worked with honest ones. My brother bought a condo a few years ago, and the realtor even talked him out of overbidding by a lot.

Wait, what? A realtor who actually tells you that youre offering too much money? Yes, they exist too. Not all of them are driven by commissions.

You know, there are also people who work in real estate who actually feel good when they help another human being with their primary need, which is to find shelter.

I own two rental properties, and one of my tenants has been with me since 2020. I havent raised his rent once. Hes a high school teacher who takes care of my property.

Why would I raise his rent every year? My bank also doesnt raise my interest rate every year for my own house. Plus, Im already profiting from the rising property value.

Ultimately, the Stoics were about making the world a better place.

A healthy obsession with money is okay. My obsession with building wealth comes from my childhood.

As a child of immigrants, I lived with a constant fear of not having enough money to live well. We always lived from paycheck to paycheck and my parents often fought over money.

My only desire back then was to have enough money so I never have to worry about that anymore. So I pursued money because of that reason.

Along the way, I discovered philosophy and in particular, Stoicism. I realized that money is only a means to an end. And that getting on the hedonic treadmill, fulfilling all your desires is a one-way ticket to destruction.

If you pursue desires like sex, drugs, and partying, you will find that there is no end to that journey. Everyone realizes that sooner or later.

The problem is that some people are so deep in that lifestyle that its impossible to break free. The other people who realize it on time can give it up and get on a more philosophical path.

What does that even mean? According to Seneca, one of the wealthier Stoics, a good life is about the following:

Happy is the man who can endure the highest and lowest fortune. He who has endured such vicissitudes with equanimity has deprived misfortune of its power.

No matter how great, fun, boring, or hard life is, a Stoic will find happiness and tranquility.

Lets put everything together. Yes, you can be Stoic and pursue wealth. And you can also be a wealthy Stoic. Heres how:

By following these principles, you can achieve financial success while staying true to Stoic philosophy.

Wealth, when pursued with wisdom and integrity, can be a tool for living a virtuous and fulfilling life.

My new book,The Stoic Path to Wealth (Portfolio / Penguin), is out now.

If you order now, you willinstantlyget free access to4 products, worth over $500.

Learn more here:stoicpathtowealth.com

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The Rich Stoic: Whether You Have Money or Not, Be Content - Darius Foroux