About this item
Highlights
- Unravel the complex relationship between finances and life well-being In A Wealth of Well-Being: A Holistic Approach to Behavioral Finance, Professor Meir Statman, established thought leader in behavioral finance, explores how life well-being, the overarching aim of individuals in the third generation of behavioral finance, is underpinned by financial well-being, and how life well-being extends beyond financial well-being to family, friendship, religion, health, work, and education.
- About the Author: MEIR STATMAN is the Glenn Klimek Professor of Finance at Santa Clara University.
- 416 Pages
- Business + Money Management, Personal Finance
Description
About the Book
"Financial well-being comes when we can meet current and future financial obligations, are able to absorb financial setbacks, and keep driving toward financial goals. This life well-being is at the center of the third generation of behaviorial finance, and at the center of this book. It broadens the lens of finance to see people as whole persons, and show them in domains beyond finances, including family, friends, health, work, education, religon, and society. This book is unique in combining the scientific findings by scholars in finance, economics, law, medicine, psychology, and sociology with real-life stories at the intersection of finance and life. The domain of finance is only one of the domains of life well-being, but it has a special place because it underlies life well-being in all other domains. We need finances to support ourselves and our families, to pay for food, shelter, and schooling. We need finances to maintain our own health and that of our families, paying for the services of physicians and hospitals. We need finances to pay for education that would qualify us for well-paying and satisfying jobs, careers, and vocations. We even need finances to experience and express our religion. This book assigns to the domain of finances the special place it deserves among the domains of life well-being, but it does not overlook the other domains. It provides the sociological underpinnings of the practice of financial well-being, addressing the relationship of day to day life to finances for financial advisors, financial planners, and the investor concerned about making sure their money protects their well-being"--Book Synopsis
Unravel the complex relationship between finances and life well-being
In A Wealth of Well-Being: A Holistic Approach to Behavioral Finance, Professor Meir Statman, established thought leader in behavioral finance, explores how life well-being, the overarching aim of individuals in the third generation of behavioral finance, is underpinned by financial well-being, and how life well-being extends beyond financial well-being to family, friendship, religion, health, work, and education.
Combining recent scientific findings by scholars in finance, economics, law, medicine, psychology, and sociology with real-life stories at the intersection of finances and life, this book allows readers to clearly see how finances are intertwined with life well-being. In this book, readers will learn:
- How dating, marriage, widowhood, and divorce are all affected by finances and affect them
- Why the relationship between parents, grandparents, children, and friends changes as finances fluctuate
- How finances affect choices of education, such as colleges, and how these choices vary across different cultures around the world
A Wealth of Well-Being: A Holistic Approach to Behavioral Finance earns a well-deserved spot in the libraries of financial advisors, financial planners, investors, and all individuals looking to move beyond standard finance and enhance both financial well-being and life well-being.
From the Back Cover
Praise for A WEALTH OF WELL-BEING
"Meir Statman is a leading proponent of using the insights of behavioral finance to help investors achieve financial security. In this delightfully written book, laden with real-life stories, he shows that these insights are even more important in helping us achieve a meaningful, purposeful life. Everyone can benefit from this wise and helpful guide to life well-being."
--Burton G. Malkiel, author of A Random Walk Down Wall Street
"Behavioral finance has never been more important and more accessible as it is now, thanks to Meir Statman's wonderful synthesis of the subject for the non-specialist. By taking on some of the biggest issues each of us face in our daily lives--friendship, health, dating, parenting, and religion--Statman makes a dry academic subject come to life and, in the process, provides life-altering advice that will make us all better off."
-- Andrew W. Lo, Harris Professor of Finance at the MIT Sloan School of Management, author of Adaptive Markets
"Meir Statman is one of the wise souls of the financial world -- because he knows that finance is about so much more than stocks and bonds, greed and fear, promotions and paychecks. Dollars are important, but not nearly as important as most finance books suggest. Instead, as Meir makes clear in A Wealth of Well-Being, financial well-being is just one of the pillars that supports life well-being. And, in the end, isn't the goal not a fatter portfolio, but a richer life?"
-- Jonathan Clements, former personal finance columnist for The Wall Street Journal and founder of HumbleDollar
"Finances and well-being are, of course, deeply intertwined. Ideally, they are complementary. But mistakes in either can do great harm to the other. All readers can appreciate the wise and thoughtful check list provided by this book."
--Charles D. Ellis, author of Winning the Loser's Game
About the Author
MEIR STATMAN is the Glenn Klimek Professor of Finance at Santa Clara University. He attempts to understand how investors and managers make financial decisions and how these decisions are reflected in financial markets. Meir's research has been published in the Journal of Finance and many other journals.