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 Links: Wrenne Financial Planning The Science of Happiness and How to Improve Your Happiness (Free Course by Dr. Laurie Santos) How to Be Happy: A Cheat Sheet Free Tests to Help Measure Happiness The Happiness Lab Podcast The GI Joe Fallacy: knowing is not half the battle How Much of Your Happiness Is Under Your Control? The How of Happiness: A New Approach to Getting the Life You Want High income improves evaluation of life but not emotional well-being by Daniel Kahneman and Angus Deaton Fire Your Financial Advisor (WCI Online Course) Finance for Physicians