The Connected Advisor
The Soul of Wealth
Listen to this week’s episode.
Episode 077: On this week’s episode of The Connected Advisor, I speak with Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions, New York Times bestselling author, and the host of the Standard Deviations podcast.
In this episode, Daniel dives deep into the often-overlooked aspects of wealth, the power of conscious spending, and the parallels between health and wealth. He helps individuals and organizations thrive at the intersection of psychology and finance. His book, The Soul of Wealth, explores what wealth really is and provides practical suggestions for how to change your thinking and your actions in small, powerful ways.
Key Takeaways
Every dollar spent is a vote for the kind of world you want to live in.
Achieving financial success can bring unexpected challenges like isolation, anxiety, and a loss of purpose. It’s crucial to recognize that money is a tool, not a solution to all problems.
Money and online influence can provide fleeting satisfaction, but they don’t replace authentic human connection, purpose, or love.
It’s easy to fixate on achieving a specific financial goal or level of success. However, finding joy in the journey and focusing on the behavioral and relational aspects of life are equally important.
Quotes
“I’m always looking for ways to humanize wealth, budgeting, and investing. Understanding that the way you spend every dollar is a vote for the kind of world you want to live in.” ~ Daniel Crosby
“Money is easy to stack. Money is easy to count. Money is easy to quantify. Because it is all those things, we treat it as a proxy for happiness.” ~ Daniel Crosby
“The five facets of a meaningful life are fun and leisure, deep work, loving relationships, meaning, and advancement. Money is only exceptional at scratching one of these itches.” ~ Daniel Crosby
“The belief that money is a tool that solves every problem is so hard to shake because it is riddled with half-truths. Money can’t buy us happiness outright, but it can buy us the absence of misery. Money can’t buy us love, but it can buy us chocolate and roses. Money can’t buy us purpose, but it can buy us time to reflect on the meaning of life.” ~ Daniel Crosby
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Kyle Van Pelt
