The Long View
Meir Statman: ‘The Biggest Risks in Life Are not in the Stock Market’
Apr 23, 2024
Meir Statman, finance professor, discusses behavioral finance and well-being. Topics include wealth's impact on happiness, mid-life challenges, family support, and dimensions of well-being. Emphasizes the importance of holistic financial planning for overall life satisfaction.
54:09
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Quick takeaways
- Life well-being encompasses financial and non-financial factors, emphasizing the importance of balance in various life aspects.
- Behavioral finance has transformed to view individuals holistically, integrating financial well-being with broader life considerations.
Deep dives
The Importance of Life Wellbeing
Life wellbeing encompasses financial and non-financial factors that contribute to overall well-being. While financial stability is crucial, life wellbeing also involves family, friends, health, work, education, religion, and society. Recognizing that money alone does not guarantee happiness, the holistic approach of life wellbeing seeks to balance financial security with broader life aspects.
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