By Brad Garland, founder, Banktastic.com, and CEO, The Garland Group
People want success. Many people, oddly enough though, work towards someone else's idealistic goal of the American Dream. Spouse, kids, house, dog, car, white picket fence. Why? It's especially surprising considering that following others' ideals can lead to anxiety, depression, and unhappiness. College students have seen their parents work very hard, late nights for years and still come home stressed about barely being able to pay their bills.
Fortunately, kids grow up learning lessons from their parents about what to do and what not to do in life. College students are learning to look for things that will ultimately make them more happy than rich. It will ensure, in any economic situation, they will enjoy what they do. It will also train them to be more fiscally responsible so they can live out their American Dream.
As you work with members to help them find the financial future that's right for them, it may pay off to know whether they want you to talk with them more about how to grow their assets into a large net worth--or more about how financial security can help them do right by themselves and the world. You might start by thinking about younger members as perhaps more likely to pick happy over wealthy.
Below is a video I found from the Get Rich Slowly blog that does a nice job of taking a scientific approach to this problem. Consider this as you put together your next financial education program for members.
Brad Garland is founder of the community site Banktastic.com and CEO of The Garland Group, Wylie, Texas.
Great stuff, Brad. And from what research I've read about this group...right on target. Thanks!
Posted by: Roger Conant | June 16, 2009 at 07:09 AM
Very interesting post! It was fun to see clips of U of Rochester, right here in my backyard. Thanks for writing for us.
Posted by: Lisa Hochgraf | June 16, 2009 at 07:42 AM