The Value Trap

By David Geller   |   July 7, 2015

I want to take my family on a trip during the holidays, but everything is so expensive. It’s the only time everyone can go, but the same trip is half the price just a few weeks later. Maybe I should just postpone the trip to next year.

I want to offer struggling families a helping hand. I know how good it feels to make a positive impact on someone’s life. My challenge is finding a charity that’s truly run like a business. Whenever I get to know a charity, I always feel they could be less wasteful, more efficient. Maybe I just need to keep looking for the right nonprofit?

We all want to get good value for our hard-earned dollars. But sometimes, our focus on value distracts us from what matters most to us. We fall into what I call The Value Trap.

When we postpone the family trip, we lose the chance to spend time this year with the people we love the most. Our bank account is a little larger; our collection of family memories is forever smaller.

When we delay making a charitable gift, we deprive ourselves of the life-enriching experience of helping another human being. Our bank account is a little larger; the quality of our life is a little smaller.

Value matters, but not to the exclusion of everything else. Are you falling into The Value Trap?

David Geller

About the Author

CEO David Geller co-founded the firm in 1991 and led the creation of Behavioral Wealth Management. Recognized on numerous prestigious "top financial advisor" lists, David is an in-demand speaker for professional groups and JOYN workshops. His writings have appeared in The New York Times, The Wall Street Journal and The Huffington Post.

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