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.   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.    Travis outlines three different elements of stoicism that helve helped him on his personal journey to becoming a full-time passive investor:   1. Learn to Focus on What You Can Control “You have power over your mind — not outside events. Realize this, and you will find strength.” —Marcus Aurelius   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.    You can, however, focus on things that are within your control in order to simplify your investing strategy: Do proper due diligence before making an investment. Invest in deals that are conservatively underwritten. Have proper insurance coverage on the real estate you are investing in. Set aside adequate cash reserves for unexpected events.   2. Be Tolerant with Others “Be tolerant with others and strict with yourself.” —Marcus Aurelius   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, colleague, or coworker. It’s important to be understanding and forgiving of those who, as Marcus Aurelius would say, have been cut off from the truth.   3. You Can Be Twice as Rich by Desiring Half as Much “By desiring little, a poor man makes himself rich.” —Democritus It’s easy to get caught up in the success cycle, always wanting more things and more money. However, if you take a step back and think about what brings you the most happiness, you’ll likely find that many of these things are free or cost very little. It’s important to ask yourself what you're really after and how much is enough. The first episode of Passive Investor Tips covers this topic in more depth. Join the newsletter for the expert tips & investing content.   Sign up to be a guest on the show. FREE eBook: The Ultimate Guide to Multifamily Deals & Investing Register for this year's Best Ever Conference in Salt Lake City Stay in touch with us! www.bestevercre.com YouTube Facebook LinkedIn Instagram Click here to know more about our sponsors: PassiveInvesting.com | DLP Capital |Reliant Learn more about your ad choices. Visit megaphone.fm/adchoices