Improving Investor Behavior: Finding financial happiness, part 2

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Improving Investor Behavior: Finding financial happiness, part 2
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Editor’s note: The first column in this two-part series published on March 17. Last month we discussed how Americans are still overwhelmingly dissatisfied with their finances, despite record net wo…

Last month we discussed how Americans are still overwhelmingly dissatisfied with their finances, despite record net worth and increased income.

By all measures, Holt was a wealthy man. He could have lived in a large home, traveled the world, and even upgraded his lawnmower to a vehicle that wasn’t John Deere green. Yet he chose a simple life. He knew what he wanted and found something money couldn’t buy — happiness. His gift to the small town of Hinsdale, N.H., will fund programs and city endeavors for years to come.

But at age 53, he wondered if all this “stuff” was really improving their happiness. Having achieved everything society said would make them happy, he and his wife weren’t any happier. So Feeney started donating their money, helping others, and providing resources to worthwhile causes. “What have you got to show for the money?” was a regular mantra of Feeney in his later years. They found what made them happy, and they anonymously and boldly did it.

Most ski clients presumed I was receiving a piece of the $1,100 lesson fee the resort charged, and thus were often reluctant to tip. This situation is all too common in businesses these days. I was extremely fortunate to work this job purely for the enjoyment of helping others, so I didn’t need tips. But several of my ski colleagues relied on tip money just to make ends meet.

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