How Often Do You Think About the Roman Empire (How They Viewed Wealth)? #romanempire

Puff Daddy wasn’t Roman, but “Mo Money Mo Problems” may have resonated with the Stoics. Apparently, Erik thinks more about Roman views on wealth than he realized. And the Roman Empire is alive & well & taking TikTok over by storm thanks to Gaius Flavus…who?

In this episode, Erik Garcia, CFP®, BFA, and guest host Dr. Matt Morris LPC & LMFT discuss what some well-known Stoics had to say about wealth (thanks to an extensively shallow search on ChatGPT).

Episode Highlights:

  • Matt discusses his experience using ChatGPT in the classroom and the potential benefits and challenges of using generative AI technologies in higher education. (7:59)
  • Matt explains how being discontent is a major source of unhappiness in society and the contrast between people in societies with little material wealth who are content, and those who become miserable when they become aware of what they lack. (12:12)
  • Erik discusses the concept of asceticism in Roman stoic philosophy, highlighting the idea that despite the opulence associated with Rome, there was a belief in not being attached to wealth. (15:20) 
  • Matt emphasizes that building wealth doesn’t have to be about accumulating material goods, but can also involve investing in experiences and helping others. (18:49)
  • Erik and Matt discuss the idea of not being overly attached to material wealth, as seen in quotes from Epictetus and Marcus Aurelius. (25:28)
  • Matt discusses the Roman Empire’s approach to debt management, which aligns with his perspective on responsible debt use. (31:43)
  • Erik explains that debt is like fire, it can destroy if not managed properly, but it can also provide necessary warmth and sustenance, just like the principles of managing money that have persisted for thousands of years. (33:50)

Key Quotes:

  • “Even the wealthy can benefit from the humble help of others if they avail themselves.” – Dr. Matt Morris LPC & LMFT
  • “If you’re poor, that’s not evidence of your moral condition. If you’re wealthy, that’s not evidence of your moral condition.” – Dr. Matt Morris LPC & LMFT
  • “Debt is like fire. Fire can destroy if it’s not contained or used properly, but fire can also give life.” – Erik Garcia, CFP®, BFA

Resources Mentioned:

About Erik Garcia

Hi there, I'm Erik. How you manage your money and other resources impacts practically every aspect of your life. I help individuals and families invest plan for a more secure and predictable financial future. Thanks for taking time on my site!

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