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We recently relocated to Jersey City, New Jersey., so my wife, a portrait artist, could continue her studies at the Florence Academy of Art’s newly opened campus.
I have the luxury of working from home. I try to run every morning around 8 a.m., on the boardwalk adjacent to the Hudson River. This route allows me to take in the New York City skyline, which makes my exercise regimen much more pleasant.
Over the years, Jersey City has become a major financial center. Tens of thousands of New Yorkers "reverse commute" every morning. As they disembark from their ferries and trains, dressed impeccably in attire favored by investment bankers, I run past them in my gym clothes.
Here's what strikes me: As a group, they seem unhappy and stressed. A small minority puff away on cigarettes. A significant number are conspicuously overweight and appear unhealthy. Most frenetically text and check e-mails while rushing to their offices.
These are highly intelligent people with good paying jobs. Why are they acting in a way that is so obviously not in their best interest?
I notice similarities in my work with advisors. As a group, we aren’t happier than the population in general. The focus of my workshops and coaching sessions, however, is to help advisors convert more prospects into clients. And increasing AUM is a worthy goal. But does anyone aspire to be an unhappy advisor with a lot of assets to manage?
Happiness is within your grasp
A recent article in Time magazine set forth "seven easy happiness boosters" based on research from Harvard University. These tips were taken from a book authored by happiness guru Shawn Achor, entitled The Happiness Advantage. I will summarize it below.
Meditate
I have written previously about the undeniable benefits of meditation. Meditation is the only subject I have researched where I could find no evidence of adverse effects.
If you have not begun the practice of meditation, this study in a peer-reviewed journal might motivate you.
Researchers found that after a relatively short period of meditation training (11 hours), participants experienced positive changes in their brains. These changes improved the ability of study participants to regulate their thoughts and emotions, which made them happier.
If you are unhappy (and even if you aren’t), you should seriously consider meditation.
Anticipate positive events
Achor refers to a study that found people who anticipated watching their favorite movie raised their endorphin levels by 27%. Planning for positive events is an easy way to increase your happiness level.
I have been utilizing this happiness tip for many years, and it definitely works for me. I tell everyone who will listen, "Bad events will find us. We have to plan for positive ones."
Practice kindness
I know it sounds odd, but being kind and generous with others is actually very selfish. I mean selfish in a good sense. Achor cites empirical research showing that generosity with friends and strangers lessens stress and contributes to positive mental health.
Avoid negativity
My wife refuses to watch the news on television. She says it makes her depressed because it emphasizes negativity, which increases her anxiety. She knows intuitively what research has demonstrated; watching negative news on television and being exposed to violent programs makes us less happy.
Exercise
The benefits of exercise are extensive and well-documented. It can reduce stress, make you feel happier, treat symptoms of depression, boost self-esteem and increase positive self-image.
If those benefits aren’t enough to motivate you, there’s also evidence that exercising helps slow cognitive decline, increases your ability to perform tasks, sharpens your memory and makes you more creative.
Focus on experiences, not on things
Material possessions don't appear to make us very happy. After all, new cars depreciate immediately. When we see the bells and whistles on next year's model, we feel compelled to buy. It's like being on an endless treadmill.
In contrast, money spent on positive activities (like vacations or dinner with friends) boosts happiness.
Play to your strengths
We all have what are known as "signature (or character) strengths." You can find a list of common strengths here. Studies have found that people who tried using their strengths in new ways each day for a week were happier and less depressed six months later.
Happiness is a choice. It’s unfortunate so many people never give it a thought.
Dan Solin is the director of investor advocacy for the BAM Alliance and a wealth advisor with Buckingham. He is a New York Times best-selling author of the Smartest series of books. His latest book is The Smartest Sales Book You'll Ever Read. He limits his sales coaching practice to advisory firms that advocate evidence-based investing.
Read more articles by Daniel Solin
