Stoicism
The ancient Stoics were a school of philosophy that flourished in the Greco-Roman world. They taught that the good life is a life of virtue, reason, and harmony with nature. They believed that the ultimate goal of human existence is eudaimonia, which means happiness, well-being, or flourishing.
According to the Stoics, eudaimonia is not dependent on external factors such as wealth, fame, or pleasure, but on the internal state of the soul. The Stoics argued that the only thing that is truly good is virtue, which is the excellence of one’s rational faculty. Virtue consists of four cardinal virtues: wisdom, courage, justice, and temperance
Stoicism has been attracting renewed interest in recent years, especially among people who seek practical guidance for coping with challenges and adversities. But what does the evidence say about stoicism? Does stoicism lead to a better life?
For example, a new scale developed by Pathak and Wieten (2017) measures stoic beliefs and sense of self along four domains: stoic taciturnity, stoic endurance, stoic serenity, and stoic death indifference. They found that people who reported trying to be a stoic all of the time had higher scores on the scale, and that men were more likely than women to endorse stoicism. They also suggested that stoicism may create an internal resistance to objective needs, which can have negative consequences in some situations .
Dealing with adversity
A study by Gómez et al. (2022) examined the relationship between stoicism and social support, optimism, psychological distress, and coping strategies in patients with cancer. They found that stoicism was positively associated with optimism and negatively associated with psychological distress. They also found that stoicism moderated the effects of social support on psychological distress and coping strategies, such that high-stoic patients benefited more from social support than low-stoic patients.
Financial Outcomes
There is evidence that stoicism can improve our financial well-being. A study by Kador (2021) found that financial advisors who practice stoicism are able to regulate their emotions and serve their clients better. Another study by Baughier (2018) found that stoicism can help individuals achieve financial independence by focusing on what they can control and accepting what they cannot. A third study by Stoffel (2022) found that stoicism can help investors gain an advantage by being rational and disciplined.
As you can see, stoicism is not just an ancient philosophy, but a relevant and useful one for our modern times. By applying stoicism to our financial lives, we can improve our outcomes and achieve our goals.
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