# 47 Invest In Yourself *Week 9, Day 2 of [[00 The Wealthy Stoic Course]]* #source/course << [[46 What Do You Do With Your Money|Back]] | [[48 The Nice Stuff Paradox|Next]] >>⁠ ⁠ ## Content Do you know the investment Warren Buffett considers to be the foundation of his multi-hundred billion dollar empire? A book.⁠ Buffett can’t put an exact number on the number of times he’s reread _The Intelligent Investor_ since he first read it at the age of 19. And “I can’t remember what I paid for that first copy,” he explained in his 2013 letter to shareholders, but “of all the investments I ever made…[it] was the best.” Still to this day, Buffett returns to the book: “Anytime that the market takes a sharp dive and you get tempted to sell or something, just pull out this book and re-read it!” In the late 1940s, that book would have cost a dollar or two at most. That’s a pretty good ROI. Filmmakers talk about that first cheap camera that is the foundation of their whole career. Entrepreneurs talk about that couple-hundred-dollar conference that changed everything. Ryan Holiday talks about buying a copy of [[Meditations (Book)]] in 2006 for $8.25 on Amazon. That book gave him the speciality which he now writes his own books about. Again, not a bad ROI! We’ve talked about the importance of living below your means. About cultivating a selling habit rather than a buying habit. About the trap of extravagance and how acquiring more and more makes us vulnerable, putting us constantly on guard, until, as one of Seneca’s most powerful metaphors puts it: the slave owner is owned by their slaves. But does this mean that a Stoic is stingy and frugal about everything? No. Instead, a Stoic should think both about eliminating needless expenses as well as spending liberally on the things that matter. The problem most people have is that they never decide what’s really important and what’s not, so they spend and skimp blindly.  The question becomes: what should we spend extravagantly on? Obviously this depends on who you are and what your priorities are, but Ramit Sethi does have one rule that is pretty universal, one that is easy to imagine Seneca nodding in agreement with. It’s called Ramit’s Book-Buying Rule:  >If you’re ‘thinking about’ buying a book, just buy it. Don’t waste 5 secs debating. Even 1 idea makes it worth it.” ⁠[When we had Cal Newport on the podcast](https://dailystoic.com/calnewport/) a little while back, he talked similarly about the importance of making expensive investments in yourself from a psychological standpoint. He called it “taking a big swing.” It’s a psychological cue, a signal to your brain that says, we take this seriously, we do this everyday—rain, snow, sleet, or global pandemic. Cal compared it to that fitness nut who has a crazy supplement routine, an infrared sauna, and a garage converted into a crossfit box. _Doesn’t it seem a little unnecessary, a little unreasonable? Do the supplements even work?_ These questions miss the point, Cal said, it’s the psychological signaling. And, to be fair, they are fitter than you and I. So don’t be afraid to take big swings. Don’t be afraid to make investments in yourself that seems borderline unreasonable, a little unnecessary. Order bookshelves and convert the guest room into a home library. Or upgrade your blender to a high powered Vitamix or your stationary bike to a Peloton. Or hire a writing coach.  Again, the defining components of The Rich Life vary from person to person. Whatever your definition, liberally invest in yourself. - - - ## Activity **What is your "big swing"?** What should you spend extravagantly on? What is an investment on yourself that you know will improve your life?