Today, we welcome back Prof. Meir Statman to talk about the role of finances in well-being. We investigate the role of finances in well-being with Prof. Meir Statman through the lens of his new book, A Wealth of Well-Being. Discover why wealth advisors must evolve into well-being advisors and uncover the impact of finances on various life domains. From dating to education, we discuss the profound financial correlations shaping happiness and well-being. Tune in now!
Key Points From This Episode:
(0:00:15) Introduction to returning guest, Prof. Meir Statman.
(0:02:15) How well-being fits into the study of behavioural finance.
(0:06:52) Discover the role of finances in different domains of life well-being.
(0:10:42) Hear why wealth advisors need to change to being well-being advisors.
(0:14:59) Explore the relationship between finances, social status, and overall well-being.
(0:19:46) Whether too much self-control in spending can be a problem.
(0:22:46) The effect of finances on dating and marriage and how work plays into well-being.
(0:26:42) Find out how education fits into well-being and why it is a major regret for people.
(0:32:36) Gain insights into how religion and faith can enhance well-being.
Links From Today’s Episode:
Rational Reminder on iTunes — https://itunes.apple.com/ca/podcast/the-rational-reminder-podcast/id1426530582.
Rational Reminder Website — https://rationalreminder.ca/
Rational Reminder on Instagram — https://www.instagram.com/rationalreminder/
Rational Reminder on X — https://twitter.com/RationalRemind
Rational Reminder on YouTube — https://www.youtube.com/channel/
Rational Reminder Email — info@rationalreminder.ca
Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/
Benjamin on X — https://twitter.com/benjaminwfelix
Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/
Cameron Passmore — https://www.pwlcapital.com/profile/cameron-passmore/
Cameron on X — https://twitter.com/CameronPassmore
Cameron on LinkedIn — https://www.linkedin.com/in/cameronpassmore/
Mark McGrath on LinkedIn — https://www.linkedin.com/in/markmcgrathcfp/
Mark McGrath on X — https://twitter.com/MarkMcGrathCFP
Prof. Meir Statman — https://www.scu.edu/business/finance/faculty/statman/
Prof. Meir Statman on X — https://twitter.com/meirstatman
Episode 258: Prof. Meir Statman — https://rationalreminder.ca/podcast/258
Meir's Book: A Wealth of Well-Being — https://www.amazon.com/Wealth-Well-Being-Holistic-Approach-Behavioral/dp/1394249675
Episode 270: Victor Haghani and James White: The Missing Billionaires
Episode 269: Preet Banerjee: A multi-dimensional analysis of the value of financial advice
Episode 268: Itzhak Ben-David: ETFs, Investor Behavior, and Hedge Fund Fees
Episode 267: The (Expected) Cost of Pessimism (Plus Matthew Dicks on the Value of Storytelling)
Episode 266: Prof. Cass Sunstein: Practical Reason in Ordinary Life
Episode 265: 5% HISA... for the Long-run? (Plus Stoicism with Michael Tremblay)
Episode 264: Pim van Vliet: The Volatility Effect, Revisited
Episode 263: A Tribute to Harry Markowitz with Alex Potts & 7 Steps to a Better Portfolio with Edward Goodfellow
Episode 262: Francisco Gomes: Consumption and Portfolio Choice over the Life Cycle
Episode 261: Structured Products with Felix Fattinger and Petra Vokata & Jill Schlesinger
Episode 260: Prof. James Choi: Practical Finance
Episode 259: Comprehensive Overview: Estimating Expected Returns
Episode 258: Prof. Meir Statman: Financial Decisions for Normal People
Episode 257: Giorgio Ugazio (Mr. RIP): Life Design, In Progress
Episode 256: Prof. Hal Hershfield: Your Future Self
Structured Products (Plus Just Keep Buying with Nick Maggiulli) (EP.255)
David Blanchett: Regret Optimized Portfolios, and Optimal Retirement Income (EP.254)
Complex Financial Instruments with Prof. Paul Calluzzo (Plus Sean Silcoff on Losing the Signal) (EP.253)
Prof. Burton Malkiel: 50 Years of A Random Walk Down Wall Street (EP.252)
Covered Calls (Plus Robin Powell and Jonathan Hollow on How to Fund the Life You Want) (EP.251)
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