Viktor Frankl and the Search for Meaning in Life

“Striving to find meaning in one’s life is the primary motivational force in man.”  ~ Viktor Frankl

As Viktor Frankl, an Austrian neurologist, psychiatrist and Holocaust survivor, devoted his life to studying, understanding and promoting “meaning.”  He developed the psychological approach known as logotherapy (from the Greek logos, meaning “reason” or “principle”).

While observing the brutality and degradation within the Nazi concentration camps during WWII, he theorized that those Jewish concentration camp prisoners who tended to survive the experience, were not those who were physically strong, but those who retained a sense of control over their environment, and had some meaning and purpose in their lives.

These prisoners with meaning and who retained a ’sense of control’ were more likely to survive the dehumanizing experience; he himself tried to recreate the manuscript of a book he had been writing before his capture.

“Forces beyond your control can take away everything you possess except for one thing, your freedom to choose how you will respond to the situation.” ~ Viktor Frankl

According to Frankl, meaning can be found through:

  • “Experiencing reality by interacting authentically with the environment and with others,
  • Giving something back to the world through creativity and self-expression, and
  • Changing our attitude when faced with a situation or circumstance that we cannot change.”

He observed:

“We who lived in concentration camps can remember the men who walked through the huts comforting others, giving away their last piece of bread. They may have been few in number, but they offer sufficient proof that everything can be taken from a man but one thing: the last of human freedoms—to choose one’s own attitude in any given set of circumstances—to choose one’s own way.”

For Frankl, joy was an important byproduct of finding meaning in life. He points to studies where there is marked difference in life spans between “trained, tasked animals,” i.e., animals with a purpose, than “taskless, jobless animals.”

In his famous book, Man’s Search for Meaning, he tells the story of how he survived the Holocaust by finding personal meaning in the experience, which gave him the will to live through it. He concludes that “without meaning, people fill the void with hedonistic pleasures, power, materialism, hatred, boredom, or neurotic obsessions and compulsions.”

“What man actually needs is not a tensionless state but rather the striving and struggling for some goal worthy of him. What he needs is not the discharge of tension at any cost, but the call of a potential meaning waiting to be fulfilled by him.” ~ Viktor Frankl

In “Man’s Search For Meaning”, he says for a person to be happy they need 3 things:

1. Someone to love (relationship).
2. Something to do (meaning and purpose).
3. Something to look forward to (vision and hope).


References:

  1. https://www.pursuit-of-happiness.org/history-of-happiness/viktor-frankl/
  2. https://www.psychologytoday.com/us/blog/hide-and-seek/201205/mans-search-meaning

Purpose Driven Saving, Investing and Accumulating Wealth

Investing with a Purpose – “Start with the Why” regarding saving, investing and accumulating wealth.  It’s about your values and life goals.  It’s about keeping your eyes on the prize and on the why you’re saving, investing and accumulating wealth.

There is an underlying reason why you invest your hard-earned money and it’s not just to earn more money.  While that may be the ultimate outcome, the “Why” or “Purpose” of investing is something completely different.  Simply put, you invest to achieve your financial goals in life. These goals are different for every person.  Maybe it’s retirement, a child’s college education, buying a beach house, or planning for the next generation. We all have our own goals, whatever they may be.  It’s your mission to plan out a clear path to achieve those goals. This is what is considered Investing with Purpose.

Purpose-driven investing thrives by instilling a sense of purpose into any investment.  People seek to achieve real-life objectives such as saving for your kid’s college or your retirement.

A firm purpose behind your saving for the future, investing for the long term and accumulating wealth will ensure that you are making the right money management decisions today to achieve long term financial success. Your risk will be optimized when your purpose for saving, investing and accumulating wealth matches your goals and timeline.

People Invest to Achieve Personal Financial Goals

“An investor without investment goals, objectives and a plan is like a traveler without a destination.” Anonymous

Understanding your values and what you want to accomplish in life is essential to “Purpose Driven” saving, Investing and accumulating wealth.  Saving, investing and accumulating wealth are deeply personal undertakings, which is why you must always start with a discussion about what’s really important to you. This helps us shape your saving, investing and accumulating wealth strategy around three key dimensions of your financial life: liquidity, longevity and legacy.

When people are asked why they invest, their answers typically are focused on family and future goals in life—buying a house, saving for emergencies, retirement, taking care of loved ones. Those are the big picture answers. But as in life, it’s often as much about the journey as the destination. Investors have specific expectations about the investment experience, as well as the outcomes.

For example, some investors want long-term growth to build their retirement nest egg, but they don’t want to feel the volatility that can occur in the broader stock market. Others want regular income distributions after they reach retirement. Still others want investments that can help them manage through changes in the economic environment, or more personal economic challenges.

Create the future you want for yourself and your loved ones. New to investing or an experienced trader. To be great and successful at any endeavor, you’ve got to sacrifice and put in the work, because anything easy is just average. To become great you have to make big sacrifices and work really hard — much above average.

Wise spending is a subset of wise investing. And, it’s never too late to start investing.

When you invest in assets over the long term, you are buying a day in the present that you don’t have to work several days in the future.

I like this quote since it succinctly defines one of the primary reason for investing … “putting away money today so sometime in the future, you do not have to work to live”. And the seeds you sow today, will reap the financial harvest to live a life in retirement with dignity and financial security.

Your actions dictate the consequences. Reaps what they sow, they suffer or benefit as a result of their own actions.

Investments are the tools we use to make your financial plan successful.  With your plan as the guide, your stock portfolio should be designed around your personal situation, needs, and goals.