Too often in our business we focus primarily on finances. Of course, that is what financial professionals do, but we could be neglecting an important, maybe more important, piece of the pie. The recent London School of Economics report "Origins of Happiness" found that more human misery was related to failed personal relationships along with mental illness than financial problems. Tackling mental health issues may be the best way to fight poverty. Richard Layard, an advisor to Prime Ministers Tony Blair and Gordon Brown, led the study, which analyzed data from four countries including the United States. Layard believes money spent on mental health would pay for itself by generating income from increased employment and reduced healthcare costs. Over several decades, Layard has made the argument social and psychological factors are more important than income levels when it comes to life satisfaction. Layard notes that having a partner is as right for you as being unemployed is bad for you.

Associated article: Vox Origins of happiness: Evidence and policy implications  Andrew Clark, Sarah Fleche, Richard Layard, Nattavudh Powdthavee and George Ward

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