Investing for More than Just Money: The Non-Utilitarian Benefits of Investments

Purpose: This article aimed to identify the psychological, social, environmental and ethical benefits of investments. Methodology: A total of 82 articles that were initially picked for this study, 30 articles were however selected and critically scrutinized to yield this review article. Findings: The review findings reveal that investments can have a significant impact on investors' well-being and highlight the importance of considering these benefits in investment decision-making processes. Unique contribution to theory, practice and policy: One limitation of the existing studies is that they are often based on self-reported data, which may be subject to bias or social desirability effects. This research describes new paradigms to the additional benefits of investments, in addition to the famous monetary gains such as the psychological, social, environmental and ethical benefits. Understanding these trade-offs can help investors make more informed decisions about their investment strategies.