Rediscovering Our Values
In an article titled “The Value of Planning,” financial reporter and futurist Bob Veres wrote:
“The vast majority of people in our advanced, prosperous society have not taken the time to figure out what they really want out of the all-too-brief time they will spend on this planet. And because they don’t know their destination, you know they will never reach it. They are, in a very real sense, doomed unless acted on by a powerful outside force.” Inside Information, July 2004
Although published several years ago, Veres’ observation seems more relevant than ever—especially in light of the impact of the financial crisis on the American psyche. In fact, this economic shake up appears to be the much needed “powerful outside force” that Bob referred to and one that has served as a loud and important wake up call.
Jim Wallis echoes this point of view in “Good News about a Bad Economy,” an opinion column he wrote for the March 2010 AARP Bulletin:
“The Great Recession that has gripped the world, defined the moment, and captured all of our attention has revealed a profound values crisis. Just beneath the surface of the economics debate, a deep national reflection is begging to take place and, indeed, has already begun in people’s heads, hearts, and conversations. It raises questions about our personal, family, and national priorities; our habits of the heart; our measures of success; the values of our families and our children; our spiritual well-being; and the ultimate goals and purposes of life—including our economic life.”
Wallis goes on to explain that this time in history “could be a transformational moment—one of those times that comes around only occasionally.” He stresses to his readers, “We don’t want to miss the opportunity to rediscover our values.”
In fact, several surveys have confirmed that Americans are rethinking their priorities. For example, the 2009 MetLife American Dream Study revealed that 44% of Americans feel the economic crisis has caused them to place greater importance on their family and personal life.
In addition, 59% reported that they are spending more time thinking about their life goals. Even more surprising is the fact 68% of consumers reported that the economic situation brought on by the recession has changed how they think and act when it comes to personal finances. In fact, the researchers believe that increased savings together with a newfound spending restraint has given many Americans a sense of personal financial optimism. “With the ability to curtail spending and redefine success, many Americans feel hopeful about the future and optimistic about their long-term ability to achieve the dream.”
In a similar vein, results of a 2010 survey conducted by Merrill Lynch Wealth Management found that affluent Americans are returning to or holding on to core values, including an enhanced focus on what matters most such as family and friends. And, those already retired reported on lessons learned: 51% of this group wished they would have focused more on their “life goals” and less on hitting a specific nest egg goal.
Jim Wallis concludes his opinion column with this poignant thought: “Could there be some good news in, through, and even because of this recession? Maybe so, if it becomes the opportunity to rediscover some important things that we somehow lost, but now might find again.”
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