131: The Soul of Wealth: Connecting Money and Meaning with Dr. Daniel Crosby
The Human Side of Money
The Health-Wealth Connection
This chapter narrates a personal journey of dealing with mysterious pain, ultimately linked to a neglected dental issue, highlighting the often-overlooked relationship between health and financial success. It emphasizes the importance of prioritizing well-being, noting research that supports healthier individuals tend to have better financial outcomes.
We all know that true wealth goes far beyond money.
Yet, we all act as though money is the ultimate end game.
Like when your client says, “Once I get to $_____, then I’ll be ready.”
But money is simply a tool to fund the life you want to live.
And once you know how to use it, it’s a powerful tool for enhancing your happiness, meaning and fulfillment.
But what are the ways that money can buy happiness?
How can you use money to feel more fulfilled?
Fortunately, Dr. Daniel Crosby is a leading expert in behavioral finance and the author of “Soul of Wealth: 50 Reflections on Money and Meaning.”
And, in this episode he’ll share specific ways you can use money to fund the life you want to live.
What You’ll Learn:
- How and why you should use your money to buy time
- A simple gratitude idea that instantly boosts your happiness
- Ideas to help clients cope with the discomfort of market uncertainty
- An exercise to determine whether your spending aligns with your values
- A personal story that shook him to realize that true wealth is more than money
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Resources:
- “The Soul of Wealth: 50 Reflections on Money and Meaning” by Daniel Crosby
- “Standard Deviations” Podcast by Dr. Daniel Crosby
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Connect with Dr. Daniel Crosby:
About Our Guest:
Dr. Daniel Crosby is a psychologist and behavioral finance expert who helps organizations understand the intersection of mind and markets. Dr. Crosby’s first book, Personal Benchmark: Integrating Behavioral Finance and Investment Management, was a New York Times bestseller. His second book, The Laws of Wealth, was named the best investment book of 2017 by the Axiom Business Book Awards and has been translated into 12 languages. His third book, The Behavioral Investor, was Axiom’s best investment book of 2019 and is a comprehensive look at the neurology, physiology and psychology of sound financial decision-making. When he’s not decoding market psychology, Daniel is a husband and father of 3, a fanatical follower of the St. Louis Cardinals, an explorer of the American South, and an amateur hot sauce chef.
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The views expressed here are those of our guest. They do not necessarily represent those of RFG Advisory, its employees, or its clients. This commentary should not be regarded as a description of advisory services provided by RFG Advisory, or performance returns of any client. The views reflected in the commentary are subject to change at any time without notice.
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