Ep.1 Designing The "Good Life"

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Dec 15, 2023

Explore the complexities of human happiness and regret in this podcast. Unpack the essence of a 'good life' and the different forms of happiness. Learn about the biology of happiness and how to overcome the hedonic treadmill. Discover the role of regret and the importance of relationships and ethical living for true happiness.

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INSIGHT

Good Life Is Personal And Nonprescriptive

The Good Life is the ultimate objective of financial planning and is personal to each individual.
Research is descriptive: it identifies ingredients of good lives, not a single prescriptive formula.

INSIGHT

Two Distinct Kinds Of Happiness

Happiness splits into hedonic (experienced) and eudemonic (reflective) forms that matter differently over time.
Both feeling good now and evaluating your life positively contribute to overall well-being.

INSIGHT

Use PERMA To Map Well‑Being

The PERMA model organizes well-being into positive emotion, engagement, relationships, meaning, and accomplishment (plus vitality).
These elements guide where to invest time and money for durable happiness.

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In this episode, we delve into the intricacies of human happiness and regret by exploring the complex relationship between our pursuit of happiness and the decisions we make along the way. We unpack the essence of a 'good life', the different forms of happiness, and how to keep a balance between them. Discover why the pursuit of material wealth might not lead to lasting happiness and learn how to navigate the regrets that can shape your life. Explore the 'hedonic treadmill' and the 'elephant and rider' analogy to understand why we often chase short-term pleasures over long-term fulfillment. Gain valuable insights from Mark's ICU experiences that shed light on the importance of relationships, seizing opportunities, and living an ethical life. Join us on this enlightening journey as we set the stage for your pursuit of a richer life — one that rises above mere wealth and embraces the profound essence of happiness and fulfillment. Tune in now!

Key Points From This Episode:

(0:02:13) Defining the 'good life' and takeaways from Ben's research on the topic.

(0:06:39) The different forms of happiness and how to measure it.

(0:08:33) Ben explains the various factors that contribute to well-being.

(0:10:51) Mastering a balance between the different facets and forms of happiness.

(0:13:25) Understanding the biology of happiness and hedonic adaptation.

(0:19:46) Achieving long-term happiness and overcoming the hedonic treadmill.

(0:25:58) Discover the role of regret in determining well-being and happiness.

(0:31:45) Insights into the main regrets that impact a person's happiness.

Links From Today's Episode:

Benjamin Felix — https://www.pwlcapital.com/author/benjamin-felix/

Benjamin on X — https://twitter.com/benjaminwfelix

Benjamin on LinkedIn — https://www.linkedin.com/in/benjaminwfelix/

Dr. Mark Soth (The Loonie Doctor) — https://www.looniedoctor.ca/

Dr. Mark on X — https://twitter.com/LoonieDoctor

PWL Capital - https://www.pwlcapital.com/

'Finding and Funding a Good Life' — https://www.pwlcapital.com/finding-and-funding-a-good-life/

The Happiness Hypothesis — https://www.amazon.com/Happiness-Hypothesis-Finding-Modern-Ancient/dp/0465028020

Rational Reminder Podcast: Episode 246 — https://rationalreminder.ca/podcast/246

The Power of Regret — https://www.amazon.ca/gp/product/B097XNT4RT/

'Regrets of the Typical American: Findings from a Nationally Representative Sample' — https://journals.sagepub.com/doi/abs/10.1177/1948550611401756