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
I wish I could like this video more than once. This is my third time watching it and is so widom dense. Thank you so much for uploading this for free. Love from India.
Thank you, for not purely focusing on the investing machine, but instead on our happiness and well-being. There is definitely a need to balance the two.
"...we need to know how to find a good life. Fortunately, there is a substantial body of academic literature on this topic." Perhaps the most Ben Felix thing ever said. And I love it.
Just to summarise : Valuing time over money , Engaging in smaller but frequent chunks of leisure, Finding flow, Strong relationships , Spending money on experiences rather than things, Spending on other people and most importantly dont judge your future self try to live in the present.
Congratulations Ben for offering a unique product through your videos. It’s original, unique and personal. Your ideas are very well reasoned and backed by independent research which is something rare in today’s world. I really take a lot of pleasure listening to your ideas and I can see that I’m not alone in the comment section. Each video must be a huge time commitment but what I can tell you from an audience perspective and as someone that don’t usually comment on youtube, your content is different and innovative. Thank you and continue sharing your perspectives! Jeffery.
I can't like this video enough. It's a fantastic description of the questions I have been asking myself after achieving my goals and setting new ones each one further and higher.
I like that you break down "happiness" like you do investing topics. Incredible background readings and I love that you relate everything from happiness equation, PERMA model, flow, thinking fast and slow, etc.. This might be your best videos yet and arguably the most important one on this channel (happiness over money). This video was well worth the wait. Thanks, Ben!
This episode really hits home for me. I'm getting really burned out on my job, but the pay and benefits make it difficult to leave. As a consequence, I'm more focused on retiring than the present. This reminds me that I need to consider reducing my hours or finding a more enjoyable job instead.
@@michaelsmith4904 Value of your human friends, profitability of your business relationships, size of your wife's boobs, momentum of your erectional capabilities, investment on your self and knowledge and market where you are born and work.
For me, living a good life includes maximizing the amount I can donate to charity to save lives. For example, the Against Malaria Foundation or Malaria Consortium can save a life on average every $4k. This is insanely underfunded from a marginal value perspective - as long as there are equivalently cheap opportunities to make such a huge difference in the world, it’s always going to be worth it to try to earn more money and contribute more.
Malnutrition is a problem where funds can go a very long way in flourishing people's lives in 3rd world countries. A inexpensive diet that has a good blend of carbs, protein, and fat, as well as essential vitamins and minerals can change the life of a kid who has very little to eat. I appreciate your desire to help in the battle against Malaria! Not taking away from that. Just my own thought.
Using empirical data to tackle problems, not only for investing but life, is very satisfying and gives me a great feeling. I am doing the right things in life.
Excellent video! I just need to listen to it again to really understand it. I’m so grateful my husband shared this video with me. We call our way of life; ‘life by design’…being, and working at being present, mindful and grateful. There are so many great concepts in this video! Thanks 😊
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.
Wow. This is, without exaggeration, one of the best videos I’ve ever watched. Perfectly stated, well-researched, succinct, powerful and relevant. Will remind myself to go back and watch this regularly. Very well done.
I thought exactly the same! Most of what was said was not new to me, but the way it is put in perspective really makes you think about choices in life. And as big of a cliche as it might be, life really is more about the journey than the destination!
I was not expecting such kind of topic in your channel but it's excellent content that force us to stop and think about our lives. Great content as usual!!!
Ben, I've been watching your videos for some time now, and I love them all. You show us research and data about investments that simplify our lives in the end. But this video really hit me. No joke, I think it was the best video that I've ever seen. It summarized reflections on life that I've been having the past couple of months and also gave me new perspectives, resources, and life advice in general. I can't thank you enough for everything I've learned from you, financially and life-wise. I hope you have a wonderful day!!
3 года назад
I think Daniel Loeb recently tweeted something along the lines: "Who wants their gravestone to read 'He earned a high rate of return'?"
For those that are reading this comment and understand Brazilian Portuguese, o canal Ciência Todo Dia é um dos melhores canais brasileiros no RU-vid ! 🤗😊🔝👍
Thanks for another insightful video. I have been working my way through Kyle Prevost’s retirement planning course, reading books on the subject (Milevsky’s is the most fun), and talking to people I know who already retired. Very few focus on the money. It’s all the social,health and personal satisfaction components that make or break a person’s enjoyment of their retirement. What you talk about here is a critical part of the process of living a rich, full life!
One thing that stands out in Ben's videos ist the fact that the footage ist not glued together of retakes, like other RU-vidrs. He speaks the text in one take, showing deep undestanding of the topics. Enjoyed the video, thanks!
Usually I enjoy the financial math behind your videos. But this particular video is really outstanding. More about philosophy than money. Probably the best video on your channel.
Ben Felix: We need to know what it means to live a good life. Fortunately there's a substantial body of academic litterature on this topic. Me(philosophy grad): Oh cool! He's going to talk about philosophy and how it relates to finance! Ben Felix: Here's an equation for happiness. Me: What??? Also all kidding aside (and yes he talks about Eudaimonia), this is a great video!
This sums up perfectly my notes from recent readings inspired by you, including The Happiness Hypothesis. I always struggled to combine all the various topics into a coherent guide for friends and family. Now I can just share this video. Thanks Ben for all your amazing work!
love hearing ben speak on a topic such as this. being obsessed with money to an extreme sense can lead to a life where you just hoard money and never actually experience things. a little hedonism isn’t too bad sometimes.
I have always thought that people need to define their personal "enough". I retired (early 50s) this past spring, after I had earned/saved enough for me. The past few months have been bliss as I focused on activities important to me rather than the continued grind of work. Love your videos!
I recently read the Geometry of Wealth and the Psychology of Money, and this video is a nice reminder of some of the lessons in those books. It's very important to remember what you're working and investing for!
Don't know if you already know this but Ben actually interviewed both of the authors for those books, Brian Portnoy and Morgan Housel, on his podcast "Rational Reminder." Brian Portnoy was ep. 102 (June 2020), and Housel was ep. 128 (Dec 2020). It's on their website, as well as Spotify and apple podcasts. That Brian Portnoy episode changed the way I view the rest of my career in finance lol
Such a great video. Many finance youtubers treat investing as if the goal was to stack infinitely more money, while the actual goal is to fund a good life.
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This probably is the best video of the whole series. Thanks Ben for the enormous value you are delivering to us at no cost (for us). For you I imagine this huge effort ticks the goals for engagement, relationship, meaning and accomplishment. For us this is an absolute treasure trove.
I find it telling that you're the happiest in this video than you've been in any other video of yours. You laugh more (failing to control it) and have more energy in you.
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.
Ben this is incredible. What an unreal summary of the your dive into happiness and a meaningful life; concise yet rich with information but easy to follow. Thank you for your ongoing content!
Great video. This has me reconsidering FIRE (financial independence retire early). I'm not too frugal, but I know it can be a bit of a trap to make too many lifestyle trade-offs sacrificing the present for the future. I generally enjoy my job and don't think I currently have enough hobbies or other activities that would occupy my time in retirement (even a soft-retirement working part time). My wife and I plan to have kids but haven't begun yet. I'm sure that will change a lot about my lifestyle and perspective.
@@Mosesusorer I think the real Ben removed the scam comment since I see he's replying and liking new comments. Very cool! Very cool of you to point out scammers too :)
It is so easy to forget that we want money not just for the sake of it but for the confidence and opportunities that it provides. When it comes to money, controlling greed is the most important thing one can do.
This video reiterates why having a loving partner and children is so much more important than just having a lot of money 😬 It is lovely to see you talking like this - the birth of your child must have really changed your entire perspective on money and happiness, Ben 😌
The real dilemma is the disease of "more," it could be anything you chase and a matter of fact my first drug of choice if you will.. So I definitely agree people MUST develop a healthy relationship with money. Moreover, a healthy relationship with their own personal lives... after all it is simple a means to an ends, not an ends. Great video - keep it up..
Man I recently discovered your channel and you are just great, really. Thanks. Edit: I hope our appreciation gives you meaning and thus makes you happy
Amazing job summarizing some of the best literature out there and making a connection to financial playing. You are doing a favour to society. THANK YOU.
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I have come back to this video as I think it is one of the most important parts of financial independence yet we all seem to focus on the the how rather than the why.
You never disappoint, Ben; even with the elusive, deeply philosophical and hard to measure subject - that is happiness - your work is well referenced, empirical and evidence based with your distinctive personal touch of balanced realism and optimism. Thank you! Please keep it up.
Another reason why Ben is the best investment advisor on RU-vid 🙏 What drew me to index investing is the ability to have more time for things in life that really matter. Ben's analysis just helped me to let go of fomo seeing people stock pick.
Hello Ben, I speak directly from Brazil and would like to thank you for sharing your knowledge in finance. There are many things on the internet that are useless and unfounded. Get on with your work. Congratulations!
This video came at right point. Past year im struggling with work life balance. I tried working more hrs to get more money but that made me put my childrens aside. It was heart wrenching experience😔😔 Im taking break to reconsider career options. Love your content. God bless you ❤❤❤ keep posting 🇨🇦🇨🇦
Thanks Ben for connecting money and happiness through this video. In my mind is all about making decisions slower which just means having a reason to take action
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 🌻
I think this might have been the most important video you've made. Far too many people have lived very dull lives waiting to hit retirement to finally begin living and enjoy their wealth, only to never make it that far
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Have you ever done a video on smart budgeting & investing for couples? It could cover things like 50:50 vs proportional. Differences in strategy between married vs common law. Order of operations for TFSA & RRSP accounts. When to open a spousal RRSP. How to financially empower the stay at home parent. Whose name should the taxable brokerage account be in, or is joint best? Etc. I’d love to hear your take on this.
Amazing contents based on a great set of readings and probably some personal input… this video resonates a lot with me… I used to work way too much when I was in finance, now I have a much calmer life as a university teacher (in the same field), I earn a fraction of what I used to earn, but I value my time much more now and feel much better….
can't belive youtube didnt suggest me this video! I love it! I searched for ben felix since I didnt see a video of him recently, but youtube always push me meaningless "investing" video (charts drawing clown, etc...)
