Broker Check

More Time = More Happiness

August 03, 2017
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One of the biggest and typically overlooked benefits of having a long-term investment approach is the amount of time saved not having to scrutinize short-term market movements and their impact on your money.  Our asset class approach is consistent with this frame of mind -- we know short-term results are random and unpredictable, so we instead focus on the ways we can enhance our wealth over a period of decades, not days.  Having a financial advisor like Servo who can design a portfolio specifically for your long-term goals and implement it expertly and tax efficiently saves you the additional time of not having to research, track, and monitor everything.  A few hours a year spent reviewing your progress with us, along with a few minutes every month reading Factors In Focus, and you're free to go about the rest of your life relatively free of financial worry.

This approach makes a lot of sense, of course.  But does it also make you happier?  A recent study suggests that it does.  You don't have to read the entire thing, here is the summary:  

"Despite rising incomes, people around the world are feeling increasingly pressed for time, undermining well-being. We show that the time famine of modern life can be reduced by using money to buy time. Surveys of large, diverse samples from four countries reveal that spending money on time-saving services is linked to greater life satisfaction. To establish causality, we show that working adults report greater happiness after spending money on a time-saving purchase than on a material purchase. This research reveals a previously unexamined route from wealth to well-being: spending money to buy free time."

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What do you think?  How has added free time impacted your life and well-being since hiring Servo?  Drop me a line and let me know.  It would make me happy :)