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The Key isn’t Wanting Less, It’s Wanting Differently. - Dr. Daniel Crosby
Manage episode 451786198 series 2848647
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Is wealth a means to happiness or a barrier to a fulfilling life?
This provocative question sets the stage for an enlightening conversation between Jerome Myers and Dr. Daniel Crosby, a leading authority on behavioral finance. Together, they unpack the paradox of wealth, exploring why money often feels like the ultimate goal yet rarely delivers the satisfaction we expect.
Through stories, scientific insights, and practical frameworks like the PERMA model for human flourishing, the discussion reveals the hidden costs of chasing financial success and the transformative power of aligning wealth with purpose, relationships, and growth.
[00:00 - 06:32] Liquid Happiness: The Psychology of Money
- Money is valued for its measurability
- We treat money like "liquid happiness"
- Achieving financial goals often feels hollow
[06:33 - 16:08] The PERMA Model: A Framework for Flourishing
- Positive emotions and engagement foster happiness
- Relationships and meaning are essential for growth
- Losing purpose post-exit impacts well-being
[16:09 - 30:28] The Biology of More: Why We Strive Relentlessly
- Evolution drives us to want more
- Hedonic adaptation makes wealth less impactful
- Pursue meaningful goals for lasting joy
[30:29 - 39:52] Money and Happiness: What the Research Reveals
- Happiness increases with income up to $100,000
- Spending on experiences and giving brings joy
- Avoiding unpleasant tasks boosts satisfaction
[39:53 - 50:08] Aligning Wealth with Purpose: The Path to True Fulfillment
- Purposeful spending leads to better decisions
- Wealth should deepen relationships and growth
- Reflecting on “why” enriches outcomes
Key Quotes:
"Generosity is the path to abundance—it’s true in every major faith and backed by psychological research." - Dr. Daniel Crosby
“The key isn’t wanting less—it’s wanting differently." - Dr. Daniel Crosby
Connect with Dr. Daniel!
Website:https://www.linkedin.com/in/danielcrosby
Book: The Soul of Wealth - https://a.co/d/47R5m5X (Amazon)
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