Money, marriage, kids

first_imgDaniel Gilbert, Harvard professor of psychology and best-selling author of “Stumbling on Happiness,” on Wednesday presented an impressive array of scientific research from economics, psychology, and neuroscience to assess his mother’s recipe for happiness.“If your mom was like my mom, she gave you more advice than you probably wanted on how to be happy,” Gilbert said, before telling the capacity audience at the Peabody Museum of Archaeology and Ethnology that “mom was partially right” in suggesting three keys for happiness: marriage, money, and children.With a photograph of his late mother on the screen behind him, Gilbert asked the audience members how many believed getting married led to happiness. He laughed when a woman in the fourth row pushed up the left arm of the man next to her. Smiling at the man with the forcibly raised arm, Gilbert nodded, “You’re right!” And so was mom,  he said.“Married people are happier than unmarried people. They are healthier, live longer, have more sex,” and do better on nearly every indicator of happiness, Gilbert noted during his lecture titled “Happiness: What Your Mother Didn’t Tell You.”Gilbert pointed out that the quality of a marriage is, unsurprisingly, closely connected to one’s level of happiness. On average, marriage “makes you happier for eight to 15 years,” making it a worthwhile “investment,” but happiness levels may diminish over time, Gilbert said. Of course, “staying in a bad marriage” makes people unhappy, he said, but people in bad marriages “get much happier after divorce.”Gilbert then turned to money, describing how people typically deny a connection between money and happiness. Gilbert explained that he’d once conducted informal research at the Boston Common, asking people if money could buy happiness. Nearly all of them responded in “Hallmark card clichés” about how the important things in life are free. Gilbert offered the audience a Cheshire-cat smile before delivering his findings: “Of course money buys happiness,” he said. “A little money can buy you a lot of happiness, though a lot of money buys you only a little more happiness.”The interplay of money and happiness is subject to diminishing marginal returns, noted Gilbert, who showed a graph revealing a correlation between the two increases at lower income levels and lower returns at higher levels. What’s the sweet spot where each dollar buys the most happiness? Gilbert cited a per capita income between $50,000 to $75,000.He then suggested that people with higher incomes aren’t spending their money on the right things. Time spent resting, for example, the dream of so many working people, simply doesn’t deliver happiness. “People are happiest when the mind is engaged,” Gilbert said, whether talking, creating, or having sex (another point for marriage). “People are [also] happier when they give money away rather than spending it on themselves.”Gilbert then discussed children, mom’s last ingredient for happiness. While people might refer to them as “bundles of joy,” said Gilbert (who has a son and grandchildren), “they’re not a source of happiness.” He displayed a bar graph showing that childless adults are much happier than parents. “Once people have kids, there’s a downturn in happiness,” he said, which isn’t reversed until the kids move out. “The only symptom of empty nest syndrome,” Gilbert said, chuckling, “is nonstop smiling.”So why do people speak so joyously about their children? Gilbert likened having kids to watching a Red Sox-Yankees game where no run is scored until Sox slugger David Ortiz hits a game-winning homer in the ninth. “One will always remember that magical, momentary ending,” but forget the uneventful innings before. “That’s just like spending a day with a 5-year old,” he said, when an “I wub you” from the child may validate all the difficult hours.“Of course we love our kids,” said Gilbert. “I never said don’t have kids,” but the scientific data is tough to refute. Mom’s advice on kids may thus leave something to be desired.Gilbert concluded his good-natured deconstruction of mom’s happiness formula with a final word: “Maybe your mother doesn’t know everything about happiness, but call her anyway.” While our mothers never considered backing up their theories of happiness with scientific data, Gilbert put his mom’s recipe under a powerful microscope, offering insights, surprises, and plenty of thought-provoking science.last_img read more

How your credit union can grab the attention of Gen Z

first_imgSTART paying attention to Generation Z’ers, STOP trying to penetrate the Millennial market, and CONTINUE your current Millennial MARKETING PLAN.I do not want to talk about Millennials. Everyone is interested in targeting and messaging to Millennials. Yes, you should include them in your marketing plan. If you are not already Millennial focused, then you have already missed the boat-big time and you better call Saul! So, that is why I want to shine the light on Generation Z, the next population you should be focusing on NOW in order to stay competitive or even somewhat relevant in the future.Often times, we get too caught up in getting our marketing “right” and overlook getting “better” or better yet “forward thinking”. By the time you figure out the perfect plan; you will have missed this big-crucial opportunity!Generation Z Stats that you should care about: (sourced from CMO.com)Consumers 19 or younger prefer other social networks like Snapchat,  Secret, and Whisper. And about 25% of 13-17 years Gen Z’ers have left Facebook.40% of all Consumers will be Generation Z’s!Gen Z’ers use five consumption platforms: smartphone, TV, laptop, desktop, and tablets. Whereas, Millennials average three. Your online user experience and advertising needs to interact with all of these different consumption interfaces.  I always get a little freaked out when I look at the maturity curve of where credit unions are with their online and mobile presence.The Gen Z’ers attention span is about 8 seconds – Ok, ok… That sounds crazy to us Boomers and Gen X’ers, but judgement aside, you have less than 8 seconds to grab their attention or worse lose their trust.72% of last year’s high school students wanted to open their own business. You have a developing SBA market on your hands! But, wait… Don’t try and sell SBA loans; you’ll lose trust immediately. They are extremely savvy. They do research up front, so why not make your credit union a resource to educate them (in short snip-its, remember the 8 second rule). Comparison widgets are always a hit and a good way to tag data for future marketing campaigns. You can/should nurture these relationships digitally over time.They are do-gooders and want to make a difference in the world, so you need to care about that too, as a brand and as an employer. Gen Z’ers are not only your members now, but your future talent pool. 76% are concerned about humanity’s impact on the planet. This gives you the competitive edge over Big Banks!79% Gen Z’ers experience emotional distress when kept away from their personal electronic devices. So make your UX/UI digital experience easy and content rich and you’ll win their trust.  You need to give them what they expect; which is an easy accessible online research experience they can self-serve.Gen Z’ers average 7.6 hours per day socializing with friends and family. This should help you manage and decide on your total marketing mix. You cannot rely on Facebook anymore… You need to use many different marketing platforms, which, does present data sharing and visualization issues. But, those issues can be addressed either internally or externally through a Business Intelligence team. 30SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Carolyn Eagen Carolyn Eagen is an Account Executive with Sogeti USA, a Capgemini Group Company. Carolyn and Sogeti help clients identify a best practice approach to complex business challenges through advanced technology … Web: www.us.sogeti.com Detailslast_img read more