Meet Your Future Self || Hal Hershfield

Podcast Summary

• Enhance daily experiences with engaging scents, comfortable clothing, and mindful decisions: Improve your daily life by incorporating scents like Clorox Scentiva's coconut scent, clothing options from JCPenney, and making present choices that align with your future self.

  Clorox Scentiva offers a fresh and energizing cleaning experience with its coconut scent and effective cleaning power. Meanwhile, JCPenney provides stylish and comfortable clothing options for various body types, making it a go-to destination for spring wardrobe updates. Additionally, Hal Hirschfield, a professor at UCLA's Anderson School of Management, encourages us to connect with our future selves by visualizing our desired future selves and making present choices that align with them. The NBA playoffs also remind us of the excitement and intensity of living in the moment. Overall, these discussions emphasize the importance of enhancing our daily experiences through engaging scents, comfortable clothing, and mindful decision-making for a more fulfilling future.

• Understanding Future Selves for Better Decision Making: Considering our future selves in decisions can lead to better long-term outcomes. Research shows that our future selves play a significant role in decision making and understanding how we think about them can provide valuable insights.

  Our future selves play a significant role in the decisions we make, and understanding how we think about our future selves can help us make better long-term decisions. Hal Hirschfield, a professor of marketing, behavioral decision making, and psychology at UCLA's Anderson School of Management, shares how he stumbled upon this area of research. He was in grad school during the financial crisis and had a conversation with his mentor about the lack of psychological insights into retirement decision making. She suggested that understanding how people think about their future selves could provide valuable insights. This idea resonated with Hal, leading him to explore the psychological underpinnings of future self-concepts and their role in decision making. Hal also shared a personal story about how the impending arrival of his child made him reconsider his priorities and long-term goals. Overall, Hal's research highlights the importance of considering our future selves when making decisions and how this perspective can lead to better outcomes.

• Exploring the Complexity of Our Relationship with Our Future Selves: The relationship with our future selves influences decisions and can vary greatly among individuals, affecting various aspects of life. Research aims to understand these differences and their origins.

  Our relationship with our future selves is complex and can significantly influence our decisions. This idea was explored during a conference at the Blue Lagoon Spa in Iceland, where philosopher LA Paul used the analogy of becoming a vampire to discuss the uncertainty of our future selves. This analogy resonated with the speaker as he was about to become a father for the first time, highlighting the profound impact of life changes on who we become. The speaker also touched upon individual differences in how people relate to their future selves, with some living for the moment and others planning for the future. This connection to our future selves can impact various aspects of our lives, including our financial habits, health choices, and more. The speaker's research focuses on understanding these differences and their implications. Ultimately, the question of where these differences come from and how they develop is still an open question.

• Understanding the Complexity of Change in Our Lives: Research suggests that while some personality traits may change, core moral traits may remain consistent, shaping who we are at our core. However, defining 'same' is complex, and understanding factors like role models and interventions is crucial for shaping our understanding of ourselves and our future selves.

  While we may experience stability in our lives as we age, there are still differences between our present and future selves. These differences can be influenced by various factors, including our upbringing and the models we have for our future selves. Research suggests that while some personality traits may change over time, core moral traits may remain consistent, making us who we are at our core. However, it's important to note that defining "same" can be complex, and our uniqueness goes beyond just personality traits. Ultimately, understanding how and why we change over time is an ongoing exploration that touches on fundamental existential questions. It's crucial to consider the impact of factors like role models and interventions, particularly for underserved populations, in shaping our understanding of ourselves and our future selves.

• Perception of Future Selves Influences Decisions: Understanding our relationship with our future selves can help us make better decisions, as our perception of them can impact our motivations and actions in the present.

  Our perception of our future selves can greatly influence our decisions and actions in the present. According to the discussion, we have a tendency to underestimate or overestimate how we will feel about certain choices in the future, leading to potential regret or missed opportunities. These forecasting errors can prevent us from moving toward our desired goals and becoming the person we aspire to be. Furthermore, our future selves may seem like strangers to us, and the type of person they represent can significantly impact our motivations. If we view our future selves as someone we want to care for and become, we are more likely to make decisions that benefit them. Conversely, if we see them as a bleak and alienated version of ourselves, we may not make efforts to help them or ourselves. Understanding this relationship between our present actions and future selves can help us make more informed decisions and ultimately live a more fulfilling life.

• Balance past, present, and future selves: Consider past experiences to inform present actions and shape future goals, avoid overemphasis on present or past, engage in perspective-taking strategies for informed decision making

  It's essential to consider both our present and future selves when making decisions. Thinking solely of our present selves can lead to an overemphasis on immediate rewards, while neglecting our future selves. Conversely, dwelling too much on the past can hinder our ability to move forward. Instead, we should strive for a balance between the three, using our past experiences to inform our present actions and shape our future goals. Moreover, the way we think about the future significantly impacts our decision-making. Being overly anchored on the present can result in missed opportunities and poor planning. On the other hand, unhealthy rumination on the past can prevent us from making progress and growing. Effective perspective-taking involves various strategies, such as simulating future scenarios, making predictions, setting intentions, and planning. By engaging in these activities, we can make informed decisions that benefit both our present and future selves.

• The Power of Constructive Daydreaming: Daydreaming can be positive and constructive, helping us plan for the future, be present, and lead to better outcomes. Mindfulness and daydreaming are not mutually exclusive, and we can be intensely mindful of our daydreams. Prioritize long-term goals and future selves over present temptations.

  Daydreaming, which was once viewed negatively, can actually be positive and constructive. Jerome Singer's research on positive constructive daydreaming challenged the notion that all daydreaming is regressive or unproductive. Instead, daydreaming can help us plan for the future, be present, and even lead to better outcomes. The tension between mindfulness in the present and constructive daydreaming is not a paradox, as they do not have to be mutually exclusive. In fact, we can be intensely mindful of our daydreams just as we can be mindful of the outside world or our breath. However, we must be aware of how we spend our time and prioritize our long-term goals, including connections with others, over present temptations. By recognizing the value of constructive daydreaming, we can make more satisfying choices and prioritize our future selves.

• Struggling with long-term goals due to present moment focus: Recognize the value of long-term experiences and prioritize them, despite initial discomfort, for greater rewards in the future

  People often struggle to follow through on their long-term goals due to an over-focus on the present moment. This can manifest as procrastination, making shallow decisions for our future selves based on current feelings, or even making regrettable commitments. The speaker uses the example of exercise to illustrate this point, noting that while it can be difficult to motivate ourselves to start, the benefits are often worth it. Similarly, investing time and energy into relationships or long-term projects can yield significant rewards, even if it feels awkward or inconvenient in the moment. The key is to recognize the value of these experiences and prioritize them, rather than getting stuck in the present. As the speaker notes, the research shows that these interactions are often better than we expect, and the benefits can have a ripple effect on our overall well-being.

• Understanding Time Travel Mistakes: Recognizing and learning from mistakes made when considering future selves can lead to better choices and personal growth.

  We make mistakes when we fail to fully consider how our future selves' interests and needs may differ from our present ones. This concept, known as "time travel mistakes," includes oversight errors like missing opportunities or poor planning, as well as misjudging future circumstances and packing the wrong mental or physical items for the journey ahead. It's essential to remember that becoming our future selves is a continuous process, not a destination. Research suggests that when we envision our future selves, we often incorporate the idea of positive change into our perception of ourselves, making the transformation seem more attainable and desirable. By recognizing and learning from these time travel mistakes, we can be kinder to our future selves and make more efficient and effective choices for our personal growth.

• Making our future selves feel closer: Recognize the long-term impact of our choices, make future selves more vivid, and find ways to make present sacrifices less painful for better alignment with future goals.

  Our individual choices, no matter how small, accumulate over time and significantly impact who we become. However, we often struggle to see the long-term consequences of our actions due to our tendency to make exceptions. To help combat this, we can make our future selves feel more emotionally close to us by making them more vivid. This can be achieved by writing letters to our future selves, using age progression technology, or creating a compelling vision of our future selves. Additionally, recognizing that the present self is making all the sacrifices and finding ways to make those sacrifices less painful can help us make better choices for our future selves. For instance, instead of focusing on the $150 monthly savings goal, we can break it down into a more manageable $5 daily sacrifice. By making these small changes, we can better align our present choices with our future goals.

• Framing sacrifices positively increases adoption of commitment devices: Positively framing present sacrifices and focusing on future benefits can make commitment devices more appealing and effective for individuals and organizations.

  Making small sacrifices feel easier and more manageable can significantly increase the likelihood of people adopting commitment devices. This can be achieved by framing the present sacrifices in a positive light and focusing on the future benefits, rather than the potential pain of going off course. Additionally, commitment devices can be effective for both individuals and organizations, as they help establish guardrails and foster a sense of competence and self-worth. Furthermore, it's important to recognize that despite our best intentions, we may still make mistakes. To encourage the adoption of commitment devices, researchers are exploring ways to change the messaging and make the experience more appealing. For instance, focusing on the positive feelings and self-esteem boosts that come from following through on commitments can be more effective than emphasizing the potential negative consequences. This approach can be applied to various contexts, including personal goals and organizational change initiatives.

• Balancing present and future needs: Effective altruism and long-termism aim to address future needs, but prioritizing present problems and living intentionally can benefit both present and future selves.

  Balancing the needs of the present and the future is a complex challenge, especially when it comes to environmental issues and resource allocation. While it's understandable to focus on current problems, ignoring future ones can make them worse. Effective altruism and long-termism movements aim to address this issue, but it's a controversial topic as there's uncertainty about the future. People often struggle to prioritize the needs of their future selves when faced with existential angst and uncertainty. However, history shows that people have faced existential crises before, and time will continue to progress. It may make sense to allocate resources to the present, but neglecting the future can lead to worsening problems. Living intentionally and being mindful of how we deploy our time, attention, and resources can benefit both our present and future selves. It's not an easy problem to solve, but it's important to consider the long-term consequences of our actions.

• Impact of our actions on future selves and others: Considering the collective impact of our actions on future selves and others can help us make informed decisions and find comfort in the face of mortality.

  Our actions today have far-reaching implications for not only our own future selves, but also for the future selves of others. This collective impact is an important consideration when making decisions, as it can help us confront mortality and maintain a sense of continuity of self. Philosophical ideas, such as those put forth by Derek Parfit, can offer comfort during difficult times by emphasizing that part of us lives on through the values and impact we have on others. It's essential to remember that our future selves are not solitary entities, but rather interconnected parts of a larger collective. This perspective can help us make more informed decisions and find comfort in the face of mortality.

• Explore resources for financial and mental well-being: Take Facet's financial wellness quiz, explore Amen University's mental health courses, and utilize CVS Health's services for a balanced and healthier lifestyle.

  Both Facet and Amen University offer solutions to improve different aspects of your overall well-being. Facet encourages you to assess your financial health through their free financial wellness quiz, while Amen University focuses on mental health challenges and provides targeted courses to help you overcome them. CVS Health is another resource for wellness, offering a range of services from healthcare to mental health support. By addressing financial and mental health, individuals can work towards a more balanced and healthier lifestyle. To get started, take Facet's financial wellness quiz at facet.com and explore Amen University's courses at brain.amenuniversity.com. For more information on CVS Health's offerings, visit cvshealth.com/healthierhappens. Remember, taking care of your financial and mental health is essential for a happier, healthier life.