Categories

Personal Finance

Tools

  • Economy & Politics
  • Investing
  • Personal Finance
  • Related Posts


    You May Be Drinking Fake Wine
    Second U.S. Citizen Infected With Ebola In Liberia, Which Shuts Down Borders To Slow Epidemic
    The One Thing You Should Do To Get A Raise
    Retirement: 5 Things You’re Doing Wrong
    Obamacare’s Smoking Gun Fires Again
    Income Investing When Interest Rates Rise
    Liberian Man Tested For Ebola In World’s Fourth Most Populous City
    Tax-Free Weekend Season Begins! Does Your State Participate?
    Why I Refused A Big IRS Refund
    Add Fraud To The List Of Obamacare Disasters
    China Seals Off Yumen City After Outbreak Of Bubonic Plague
    Questions For Obamacare Now
    Is College Worth It? Here’s The Fed’s Answer In One Chart
    Obamacare Is Ending, And Other Nonsense
    Obamacare Has A Scary Day In Court


    Want To Reach Your Long-Term Goals? You Have To Feel Powerful

    Sometimes, dealing with an unhappy boss, too many bills, too little money and other day-to-day life challenges can leave you feeling like you have little control over your life. But don’t allow yourself to feel helpless; new research indicates that individuals who feel powerful are more likely to make decisions that will benefit their future selves.

    According to research from USC Marshall School of Business, people who feel less powerful are more likely to make choices that lead to instant gratification, while those who feel important make decisions based upon future wishes.

    “Consistent with our predictions, we found that feeling powerful actually increased people’s willingness to wait for larger rewards,” reported researcher Priyanka Joshi. “We also found that the experience of power in the workplace is positively correlated with one’s total accrued assets, even after controlling for more likely factors such as annual income and age.”

    The researchers attribute instant gratification-based decision making brought on by feeling less powerful to a phenomenon known as “temporal discounting.” It has implications for everything from investing money and saving for retirement to developing a business strategy.

    According to Joshi, people who feel less than powerful can reduce temporal discounting by “power priming,” or focusing on a time in their lives when they did hold power over people. Such times may include when they were in charge of a club or of planning an event. Bosses who want to avoid temporal discounting in their employees can help simply by giving more power to the workers.

    “By revisiting experiences from the past, one typically experiences the same feelings they had during that time,” Joshi said. “Of course, the best way for organizations to make their employees feel powerful is to actually give them more power.”

    Discuss this Story:

    Comment Policy: We encourage open discussion. Comments including racist statements, profanity, name calling or spam will be removed at our discretion. We use filters for spam protection. If your comment does not appear it is likely because it violates the policy.

    The World’s Best, And Worst, Housing Markets
    Senate Literary Critics Don’t Like Fictional Derivatives
    Possible Epidemic? The Chikungunya Virus Is Starting To Spread In America
    Error: You Have No Payments From Pharma
    Smart Money Buys Brand X
    Obamacare Isn’t What’s Slowing Costs
    Estimating Retirement Medical Expenses
    Parents Spend Over $8 Billion On Back-to-school Gadgets
    Housing Starts Sink To Slowest Pace In 9 Months
    Use A Roth Conversion To Achieve Lower Tax Bills
    Millennials Save For Retirement Earlier Than Baby Boomers, Survey Finds
    Part-Time Workers Deserve The Shift, Not The Shaft
    It’s Hard To Put The Scale Of London’s Property Boom Into Words, So Here Are Some Charts
    Euthanasia Should Be Legally Painless
    Why Are Obstetricians Among The Top Billers For Group Psychotherapy In Illinois?
    HHS Wasted $62 Billion On Fraudulent And Improper Payouts In 2013
    Fanny Pack Mix-Up Unravels Massive Medicare Fraud Scheme
    Success Kills Another Obamacare Myth
    Planning For Digital Assets
    Why Obamacare Is Pushing Up Health Insurance Premiums
    Best Practices For Investing In A Down Market
    How I Graduated College Without Student Loans — And $10,000 To Spare
    5 Reasons You’re Not Financially Independent
    Why You Should Update Your Estate Plan
    How To Get Employees To Save For Retirement
    Why Freelancers Need A Code Of Ethics
    On Being A Good Small Business Boss
    Many In 40s, 50s Are Planning Career Moves
    How To Protect Your Assets From Lawsuits
    10 Things Every College Grad Needs To Know About Money
    Read more from Personal Finance...

    Liberty Investor Digest

    Get today's most important
    financial headlines all in
    one place by email!



    Sources


    close[X]

    Sign Up For Liberty Investor Digest™!

    Get Liberty Investor Digest FREE By Email!

    Input your name and email address in the fields below and get today's most important financial headlines sent straight to you inbox!

    Privacy PolicyYou can opt-out at any time. We protect your information like a mother hen. We will not sell or rent your email address to anyone for any reason.