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Stan's World - Doing good can lead to living well

Submitted by S. F. Ehrlich Associates, Inc. on February 16th, 2022
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February 15, 2022

Recently, a friend and I engaged in a fairly profound conversation. He wondered what he was going to leave behind after he died. He asked me about his contribution to society and how to assess the good that he did. I told him the question is one I’ve heard before. Frankly, it’s one I’ve periodically asked myself.  

To quote my late mother, when you reach senior status, we’re ‘nearer than further,’ with less time in front of us than we’ve already lived. Thus, it’s obvious why a senior might ask a question of this nature. Religious beliefs may play a role in some self-assessments. For others, this type of moral accounting may be self-reflective, as they add up the pluses and minuses on their personal balance sheet.

Legacies aside, there actually is a significant reason why we all should be interested in doing good work. As heard on a recent podcast hosted by Christine Benz of Morningstar1, Laura Carstensen, psychologist and director of the Stanford Center on Longevity, notes “one of the surprising contributors to life expectancy. . . has been purpose in life. Those people who feel like they matter to a cause or to other people, to their families, those people who have a real sense of strong purpose, live longer than people who don’t….The people who say ‘There’s a reason for me being here,’ are the ones who do better and live longer.”

When it comes to living a long and healthy life, it’s relatively easy to identify the most obvious do’s and don’ts: routine exercise, no smoking, limited alcohol intake, reasonable diet, regular medical and dental care. Of note, genes play a relatively small role in our longevity, though we often point to elderly parents and centenarian aunts and uncles when calculating our own durability. Whenever I remark that my mom passed at 98, “You come from good genes” is a typical refrain. While that might be true, it doesn’t mean I’m going to live to 98. (But if I do make it to 98, and I’m still writing Stan’s World, the commentary should be interesting.)

The idea of living a more purposeful life is one I’ve explored for years, and I’ve frequently shared my thoughts about charitable work in this newsletter. Little did I know that a byproduct of doing good is that we might also live longer.

Of course, there are some people who truly do not have time to do more than what life has already handed to them. To those I say you will be able to give to others at some point in the future. (And if you’re already in a caretaker role, for example, there’s no more to give.) To the rest of us, I say that having a purpose in life is more than being a responsible parent, loyal spouse, good friend, successful business owner, or hard-working employee. Finding time to matter to others – to matter to strangers – is incredibly fulfilling. The fact that you might even live longer is icing on the cake.    

 

 

1 Benz, Christine.  The Long View: Laura Carstensen: “I’m Suggesting We Change the Way We Work”.  Morningstar.  September 14, 2021.
Please remember that past performance may not be indicative of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by S.F. Ehrlich Associates, Inc. (“SFEA”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from SFEA.  To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.  SFEA is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice.  A copy of SFEA’s current written disclosure Brochure discussing our advisory services and fees is available upon request. If you are a SFEA client, please remember to contact SFEA, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing, evaluating, or revising our previous recommendations and/or services.
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