Money has the unique ability to move economic value through time; money made from work done today can be used to fund spending in the future. Time and money are both finite resources that we have to make allocation decisions about on a daily basis. There is no objectively optimal way to allocate time and money, but I am going to argue that for human investors these decisions should be anchored in the objective of living a happy life, so we need to know where happiness comes from.
Timestamps:
0:00 How much is enough?
1:03 What is Happiness?
4:04 PERMA and Well-Being
6:22 Time, money, and happiness
9:48 Spending money for happiness
11:42 The Four Cs
13:13 Setting anti-goals and the Five Factors of Well-Being
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Sources in order of mention
Functional imaging of neural responses to expectancy and experience of monetary gains and losses
The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom
Positive Psychology: The Science of Well-Being
PERMA™ Theory of Well-Being
Thinking Fast and Slow
Happiness, income satiation and turning points around the world
Time Smart
If Money Doesn’t Make You Happy Then You Probably Aren’t Spending It Right
The Geometry of Wealth
The End of History Illusion
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Timestamps:
0:00 How much is enough?
1:03 What is Happiness?
4:04 PERMA and Well-Being
6:22 Time, money, and happiness
9:48 Spending money for happiness
11:42 The Four Cs
13:13 Setting anti-goals and the Five Factors of Well-Being
Quality video
Dont stop until you reach ♾
What a bunch of craps
I always come back to this when I inevitable stress myself about trying to beat the market. Thanks again for this one 👍
Turns out the study about money not buying happiness above $90K has been disproven.
I have never seen a person who wrinkles their forehead when they speak more than you.
Those will be some nasty wrinkles when you get older.
it's always about five factors…
Ben, thank you for this important video. It can become far too easy to focus on money management and long term goals, and forget that the real goal ultimately is happiness. Invest wisely, in yourself, and your future.
Great video!! The $75K happiness figure I think is outdated, the authors updated to $90K recently, and I would think with inflation it should be around $100K now in 2023
Best realistic anf investment advice Ive heard in a while
Just brilliant, huge value. Thank you so much!
"an important question for every human investor", ben as opposed to what other type of investor?
Thank you for posting the references. I wanted to check out a couple of them and this made it easier. Your presentations are always intellectual, thoughtful, articulate, and well-supported with research. I appreciate your perspectives for that reason. Cheers from Kansas USA 🌻
Outstanding assessment!
Excellent video, The biggest problem today outside of greed is envy. Be content live a simple life. I sleep on a air mattress with no couch etc. and am happy. No debt and good health are the most important to this recipe of happiness.
What an excellent video!
My least favorite thing about my life is having to get up and work all the damn time. And it's really, really hard to get rid of that part.
Wow, the research, concision, and clarity on such a huge topic is expert work. Much appreciated
I got so much more than I expected out of this balanced and nuanced video! Thanks Ben! 🙂
High quality content
From dragoon lamo
one of your best videos
Ive been binge watching your videos tonight, and you make the most sense. I've subscribed and looking forward to more amazing content.
He has covered multiple books, nice video, I strongly recommended this in my groups.
wow