Financial Residency Financial Vitals: Can Money Buy Happiness
Can money buy happiness? You can have all the money in the world and be completely unhappy. How can they use money and time to live happier lives.
In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks to Jeff Wenger, a Certified Financial Planner (CFP®), about the science behind using money and time to attain happiness. In the previous episode, Jeff discussed how physicians can better align time and money management with their values.
Topics Discussed:
Psychology and the Good Life: Laurie Santos's scientific research on happiness
Laurie's Lesson 1: Our minds are really bad at predicting happiness
Tangible vs. Intangible Things: What brings you the greatest happiness?
Laurie's Lesson 2: Circumstances don't play as big a role as people think they do
What drives happiness? 50% genes, 10% circumstances, 40% thoughts, actions, and attitudes
Laurie's Lesson 3: Time versus money, which do you value more?
Spare Time: Spend money on things that save time for best return on happiness
Trade Offs: Delegate to make time and gain back time that brings happiness
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