Is it worth writing a memoir if no one will ever read it?

Millions dream about spinning their life story into a best-seller. Most never get past the dreaming part, much less the first chapter.

But there are potential rewards other than riches and fame for those who try. According to psychologists and researchers, writing a memoir—even just for personal consumption—can help the author review and make sense of his or her life, come to terms with traumatic events and foster personal growth.

In fact, some of the therapeutic benefits may be lost if the writer thinks about too large an audience—or even a readership greater than one. The story can become less authentic. And there are other potential pitfalls to writing your life story. Writers can be thrown into despair if they have trouble reconciling past failures or placing traumatic events into a larger context.

“It really depends on the type of stories people tell to make sense of their lives,” says Dan McAdams, a psychology professor at Northwestern University. People who can construct cohesive life narratives—where there are common threads and one event leads to the next—are likely to benefit from writing a memoir, he says, while those who view their lives as a series of random, unrelated events are not. His research has found that life narratives are especially beneficial if they focus on redemption and overcoming adversity.