JF2954: How Stoicism Can Make You a Better Investor | Passive Investor Tips ft. Travis Watts

<p><em>Passive Investor Tips is a weekly series hosted by full-time passive investor and Best Ever Show host, Travis Watts. In each bite-sized episode, Travis breaks down passive investor topics, simplifying the philosophy and mindset while providing tactical, valuable information on how to be a passive investor.</em></p> <p> </p> <p>In this episode, Travis discusses the 2,000-year-old philosophy of stoicism. He explains that stoicism helps you to train your mind to overcome fear, uncertainty, and obstacles along the way to becoming a better person — or, in this case, a better investor. </p> <p> </p> <p>Travis outlines three different elements of stoicism that helve helped him on his personal journey to becoming a full-time passive investor:</p> <p> </p> <h2><strong>1. Learn to Focus on What You Can Control</strong></h2> <blockquote> <p>“You have power over your mind — not outside events. Realize this, and you will find strength.” —Marcus Aurelius</p> </blockquote> <p> </p> <p>When you are a passive investor, lots of things fall outside of your control. These include government decisions, different regulations and programs, actions taken by the Fed, weather, storms, tenant issues, and more. </p> <p> </p> <p>You can, however, focus on things that are within your control in order to simplify your investing strategy:</p> <ul> <li>Do proper due diligence before making an investment.</li> <li>Invest in deals that are conservatively underwritten.</li> <li>Have proper insurance coverage on the real estate you are investing in.</li> <li>Set aside adequate cash reserves for unexpected events.</li> </ul> <p> </p> <h2><strong>2. Be Tolerant with Others</strong></h2> <blockquote> <p>“Be tolerant with others and strict with yourself.” —Marcus Aurelius</p> </blockquote> <p> </p> <p>Financial education is not necessarily widespread today. Most people have not taken the time, energy, and effort to become experts in investing. What might seem like common sense to you as a passive investor might not be so obvious to a neighbor, co