RR #148 - Investing in Happiness

Today we dive deep into the connection between happiness and money, looking at a host of theories and studies that have examined the important factors in this discussion. The main material referenced is the fascinating, The Happiness Hypothesis by Jonathan Haidt, and during the episode, we get to look at a great selection of the findings and claims in the book. To kick things off, we consider the broad ideas around how money can stimulate happiness, as well as its addictive aspects, before examining a few of the most prominent lenses used for measuring different kinds of happiness. Talking about the ideas of Hedonia and Eudaimonia, the influence of forecasting and the future, and the effects of different kinds of spending, we see the common threads as well as the distinctions between these models of measurement. Ultimately all of this material should hopefully enable us to live out a better life with this information in mind, and we spend some time reflecting on some of the key takeaways that seem to come to the surface in the happiness debate. To finish off, we field some listener questions on avoiding spending, and returns on investment, before diving into this week's bad advice featuring a video starring Warren Buffett, Charlie Munger, and Mark Cuban!

Books From Today’s Episode:

Links From Today’s Episode:

[bdkoz]

I am a multi-year listener to this podcast but just starting tuning in through YouTube the past few weeks. This format is incredible. You guys are doing a great job. Just so you are aware, I know dozens of people in my immediate circle that listen weekly. You (Ben and Cameron) are making an immense, positive impact that radiates farther than you realize. We love you guys. Great work and take care. -Ben K from Calgary.

[Jonas-ecmn]

Wow this Podcast is total underrated. Is amazing deep

[amibenya]

If you are short on time, actionable advice is summarized @54:10.

[marcdimauro]

This is one of the best episodes and full of insight and learnings. Everyone should listen. Thanks for that Cameron and Benjamin

[Akuiko]

This episode was absolutely incredible! My brother recommended your podcast and I'm pretty behind on the investment knowledge and trying to catch up, in the meantime this was an absolute pleasure to listen to. Thank you 🙌

[bjohns]

My most memorable vacations were frugal adventures. A canoe trip through Quetico provincial park was probably my favorite. The hard part is vacationing in the winter if you’re from Canada or northern US. You have to enjoy Nordic skiing!

[andreitoday]

Great content as always. Especially liked the part where you said that it makes more sense to get most happiness out of the journey towards the goal.

[phusingo]

I came for the investing advice but instead got life advice.

[journeytrader]

Interesting talking about control and being happy when in control. Then Ben said he does not budget. I love budgeting because it gives me control and makes me happy.

[dawidwtorek]

Few people want to eliminate work. Most of them want to eliminate the need to work.

[mariorossi]

When I have some money I buy ETFs because they make me happy.

[stevevuoso]

Damn, I really needed this episode right now. Thanks for the great work, as usual, guys. 🤘🏻

[AAkCN]

Is it possible to show texts you read out loud on screen?
Great episode as always!

[BuyBBStonk]

should do an episode on the book "top ten global trends every smart person should know"

[briansmith]

Excellent podcast, keep up the solid work.

[dommazahra]

Great video guys. Just wondering how people can get exposure to CMA & RMW factors through ETF’s?

[luisoncpp]

I have a conflict with that advise of spending in other people.
I constantly give money to other people(mainly my parents and charity) but I don't feel good when I do that, in fact, I feel like if I was losing that money, so it hurts.
I do it not because I feel happy to do it, but because my personal beliefs.
One could argue that acting according to my personal beliefs makes me feel more realized and acting against them would cause cognitive dissonanse. However, I'm still wondering if I could get more happiness from that with minimal changes.

[StockSpotlightPodcast]

Ben is so socially awkward and I love it 😂

[wk]

You should start a separate channel with your bot journey :)

[og]

Sounds like FIRE (version of it that focuses on stoping to work anyway) is a bit flawed