What is the single biggest determinant of success in any field? Resilience! This is the ability to adapt to adversity, accepting a delay to gratification to achieve your desired outcome, approaching challenges as opportunities. Goose and Gabi get philosophical in this episode and draw on the stoic teachings of Socrates to interpret emotional resilience in the context of real estate investing. They delve into a large-scale study undertaken in India where despite impoverishment, happiness levels are ostensibly high.
The live Q&A explores both the personal lives and stories of the minds at the investor lab as well as specific investment advice to investors just like you. Learn how to perfect resilience and experience the flow-on effects in your life, both inside and outside of real estate.
- First, second and third-order consequences: short-term pain for long-term gain
- Life, as a general rule, is out of your control
- The Happy India Study – 3 principles to happiness regardless of poverty or riches:
- Gratitude: pay attention to what you have, not what you lack
- Empathy: feel what another person is feeling
- Mindfulness: be present in the now and focus on the moment
- Socrates and emotional resilience:
- Blessings in disguise
- Excessive grieving over misfortune adds to your problem
- Accepting your place in the world and broaden your perspective
- Grief stands in the way of reason
- Things beyond our control are neither good nor bad, they just are
- Morning affirmations, daily planners and nightly journals