10 Insights on Money and Happiness | Michael Norton
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10 Insights on Money and Happiness | Michael Norton

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Michael I. Norton is an Associate Professor of Business Administration in the Marketing Unit and Marvin Bower Fellow at the Harvard Business School. He holds a B.A. in Psychology and English from Williams and a Ph.D. in Psychology from Princeton. Prior to joining HBS, Professor Norton was a Fellow at the MIT Media Lab and MIT’s Sloan School of Management. His work has been published in a number of leading academic journals, including Science, the Journal of Personality and Social Psychology,Psychological Science, and the Annual Review of Psychology, and has been covered in media outlets such as the Economist, the Financial Times, the New York Times, the Wall Street Journal, and the Washington Post.

His research has twice been featured in the New York Times Magazine Year in Ideas issue, in 2007 (Ambiguity Promotes Liking) and 2009 (The Counterfeit Self). His “The IKEA Effect: When Labor Leads to Love” was featured in Harvard Business Review‘s Breakthrough Ideas for 2009.

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10 Insights on Money and Happiness | Michael Norton 10 Insights on Money and Happiness | Michael Norton Presentation Transcript

  • Powered by insights from Michael Norton
  • This presentation consists of highlights from the interview with Moe Abdou, founder & host of 33voices®.
  • Michael Norton Michael I. Norton is an Associate Professor of Business Administration in the Marketing Unit and Marvin Bower Fellow at the Harvard Business School. He holds a B.A. in Psychol- ogy and English from Williams and a Ph.D. in Psychology from Princeton. Prior to joining HBS, Professor Norton was a Fellow at the MIT Media Lab and MIT’s Sloan School of Manage- ment. His work has been published in a num- ber of leading academic journals, including Science, the Journal of Personality and Social Psychology,Psychological Science, and the An- nual Review of Psychology, and has been cov- ered in media outlets such as the Economist, the Financial Times, the New York Times, the Wall Street Journal, and the Washington Post. @DocOnDev
  • 1 Money can certainly increase your state of happiness, but only subtly. Don’t be fooled by it.
  • 2 Your net-worth is rarely correlated to your self-worth - unless, your self esteem is fragile.
  • 3 Spend money on experiences and you will forever treasure it. buy a material good and your appreciation is likely to fade quickly.
  • 3 Spend money on experiences and you will forever treasure it. buy a material good and your appreciation is likely to fade quickly.
  • 4 Those who make the smartest money decisions align their behavior and activities with the broader goals that matter deeply to them.
  • 5 While delayed gratification distinguishes those who go far in life, it’s delayed consumption that separates those most happy. “make something a treat” and you’ll enhance the experience.
  • 6 The evidence that poor people give a higher percentage of their money to charity than wealthier ones is reflective of why investing in others will make you feel healthier and wealthier.
  • 7 The legacy you’ll leave behind will likely reflect your impact on others. make it matter.
  • 8 Smart companies understand the correlation between time-affluence and well-being - Thus encouraging youto pursue work that’s deeply personal & meaningful.
  • 9 Savvy marketersmake it a priority to spread happiness beyond their products and services.
  • 10 Think of retirement as an adventure full of experiences and you’re likely to save more; consider it a time when you’ll leave your workplace identity, and you’ll lose your zest.
  • Before making your next purchase, ask this question: How will this change the way I use my time? REALLY REFLECT...
  • Connect WITH US! Tell us what you think Chase@33voices.com