Happiness is often treated as the finish line: earn enough money, retire comfortably, and enjoy the life you've worked hard to build. But what actually makes us happy—and how much does money have to do with it?
In this episode of Accessible Finance for Retirement, Eric and Rachael Johns of Equilibrium Financial Planning continue their discussion about the relationship between money and happiness. Drawing on findings discussed in Time magazine's special edition, The Science of Happiness, they explore how reported happiness varies across income levels, employment status, family situations, and age groups.
They also discuss everyday habits associated with happiness, including getting enough sleep, exercising, spending time outdoors, and maintaining social connections and healthy routines.
In this episode, you'll learn:
What reported happiness across income levels and retirement status can—and can't—tell us.
Why retiring without a sense of purpose may not deliver the happiness you expect.
How family responsibilities, social expectations, and age can influence how people experience happiness.
Which everyday habits the episode discusses as potential contributors to well-being.
Why a financial plan should help you use your money in ways that reflect your values, rather than focusing only on growing your accounts.
The goal of financial planning isn't simply to make the numbers bigger. It's to help your financial resources support a life you find meaningful and enjoyable.
What makes people happy, and how much does money matter?
Money can make an important difference in people's lives, particularly when it provides financial security and more choices. But the relationship between income and happiness is not as straightforward as many people might expect.
In this episode, Eric and Rachael discuss survey findings showing that reported happiness increased across higher income groups, while fewer than half of respondents in even the highest income group described themselves as happy. The discussion highlights an important distinction: having more financial resources can improve your options, but it does not automatically make you happy.
They also discuss how reported happiness varies by employment status, age, and family situation. Retirees reported the highest happiness among the employment groups discussed, but the difference was smaller than they expected. Their takeaway is that retirement itself isn't a guarantee of a happier life.
For retirement planning, this matters because the goal shouldn't be to reach a particular account balance and assume happiness will follow. Financial security is important, but it is equally important to think about what you want your life to look like once you have more control over your time.
Does retirement automatically make you happier?
Not necessarily. Retirement can provide greater freedom, flexibility, and opportunities to pursue interests that were difficult to fit around a full-time job. But leaving work doesn't automatically give someone a sense of purpose, meaningful relationships, or activities they enjoy.
Eric and Rachael connect this idea to the importance of retiring to something, rather than simply retiring from work. If someone spends years anticipating retirement without thinking through how they want to use their time, the reality may not live up to their expectations.
That doesn't mean retirement won't be fulfilling. It means the transition deserves the same intentional thought as the financial side of the decision.
Consider questions such as:
What activities will give your days structure and purpose?
Which relationships do you want to spend more time nurturing?
What interests or experiences have you postponed because of work?
How will you maintain a sense of contribution and connection?
A retirement plan should account for both the resources you'll need and the life you want those resources to support.
What everyday habits can contribute to happiness?
The episode discusses six habits featured in the happiness research they reviewed:
Getting enough sleep. Sleep can influence energy, mood, and the ability to enjoy daily activities.
Exercising. Physical activity can support well-being and give people a sense of accomplishment.
Spending time outdoors. The discussion highlights natural sunlight and time outside as potential contributors to well-being.
Eating fish. The episode references research associating fish consumption with a lower risk of depression, while recognizing that an association doesn't necessarily establish cause and effect.
Maintaining good posture. They discuss research connecting upright posture with more positive self-reported feelings, while questioning whether posture causes the difference or reflects how someone is already feeling.
Smiling. They explore studies suggesting that smiling may influence how people feel in certain situations, while cautioning against treating an individual finding as a universal rule.
These topics aren't a guaranteed formula for happiness, and the episode doesn't suggest that everyone can control every aspect of how they feel. Rather, they illustrate that everyday choices may matter alongside external circumstances.
The broader point is to pay attention to the routines, activities, and relationships that help make your own life better.
How should happiness influence your financial plan?
Financial planning is about more than accumulating assets. It is about deciding what your resources are for and making informed choices about how to use them.
Eric and Rachael return to a central theme from the previous episode: people can become accustomed to new possessions surprisingly quickly. As a result, spending more on things doesn't necessarily produce lasting satisfaction. Experiences, time, autonomy, and generosity may be more closely aligned with what someone actually values.
For someone approaching retirement, that might mean planning for travel, hobbies, family experiences, charitable giving, or simply having more freedom over how each day is spent.
It also means recognizing that the right plan will look different for different people. One person may find fulfillment in traveling, another in volunteering, and another in spending time with family or developing a new skill.
A useful financial plan helps you evaluate what you can afford, understand the trade-offs, and spend with greater confidence—without losing sight of the reasons you saved in the first place.
Key takeaways
More money doesn't guarantee happiness. Financial security can matter greatly, but income alone doesn't explain how people experience their lives.
Retirement needs a purpose beyond leaving work. Think about how you'll use your time, maintain relationships, and stay engaged.
Everyday habits matter. Sleep, exercise, time outdoors, and other routines may contribute to well-being.
Your financial resources should reflect your values. A successful retirement plan isn't just about maximizing assets; it's about using them to support a fulfilling life.
Make your financial plan work for your life
At Equilibrium Financial Planning, we help New Orleans retirees and pre-retirees make thoughtful financial decisions so they can feel more confident about retirement. That includes looking beyond investment balances to consider spending, taxes, and how your resources can support the life you want to live.
If you're approaching retirement and want to understand how much you can comfortably spend—and how to align your finances with your goals—we invite you to learn more about our comprehensive, tax-focused financial planning.
Learn more about Equilibrium Financial Planning: https://equilibriumfp.com/
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Episode 91
Eric: welcome to episode 91 of Accessible Finance. I'm Eric Johns.
Rachael: And I'm Rachel Johns.
Eric: Let's dive in.
Rachael: All right, so we're gonna continue our previous discussion about happiness and how that factors into financial planning, money, and all the things. Um, there was a fascinating Time magazine, um, episode, a special edition, called The Science of Happiness, and there are some really relevant things that we kind of wanted to go through- Yeah, they're fun
and talk about. They are fun. Um, so in that, there's lots of different articles all kind of tied to this, but there's some really interesting infographics that we're gonna discuss, but then we'll also kind of include in the episode notes. Show notes, yeah. Exactly. Um, so the first and most fascinating one that I saw, Eric, um, was about the current state of happiness of Americans.
This was u- specific to Americans, and it shows how consistent it has been since 1972. So it had Americans kind of rate their happiness from, uh, very happy to pretty happy to not too happy. So those were the three options they had. Which category would you suspect had the highest selection amongst Americans?
There's very happy, pretty happy, not too happy.
Eric: Pretty happy. Everybody chooses the middle.
Rachael: Yeah. We see that all the time.
Eric: Yeah, that's right.
Rachael: Um- No, that's right ... so the middle-
Eric: 55%.
Rachael: Yeah, 55% is current, and since 1972, it's kind of been between, like, 52 to 58%, so.
Eric: Right.
Rachael: Pretty consistent. Um, your very happy people are consistently in the second group.
Um, it's usually around 30, 35%. Currently, it's at 33. And then you have your not too happy, not too happy- ... as 11. Um, but it has gone as high as about 19%, but those three have consistently remained in that. Um- So how much of that do you think is real versus how much do you think is just gravitation towards the middle, the median?
Eric: I, it's hard to say. I mean, if, w- the question was just are you happy? Or how happy are you, and then pick three, so it was a multiple ch- multiple choice question. Correct. Yeah, I think a lot of that's just gonna be pick the middle. I do too. Pick what you think is reasonable. In the same way that, like, when we ask on a risk tolerance questionnaire, like- Yep
what is your risk profile, or show us what you think is reasonable, and you show one that has, like, a, a smaller range of outcomes, then a medium range of outcomes- Mm-hmm ... and then the, the most volatile range of outcomes. That's the
Rachael: first- Almost everyone picks the middle ... thing I thought about too, exactly.
Eric: Yeah, everyone's gonna pick
Rachael: the middle. Um, so they did delve further into, um, groups based upon subtypes and what percentage of those groups said that they were happy- Mm-hmm ... for comparison purposes. So if you're breaking them down by their work categorization, um, there's unemployed, working full-time, working part-time, and retired.
Eric: Mm-hmm.
Rachael: Which of those four groups would you suspect reported being the happiest?
Eric: Retired. You are
Rachael: correct. I
Eric: would hope so. That's what everybody's chasing.
Rachael: That's
Eric: the goal. But I, I think that the interesting part of this for me was that the margins were much closer than I would've thought.
Rachael: Yes. So I would expect people who are retired to be- pretty significantly- Oh, yeah
happier than people- Like
Eric: over 50% ...
Rachael: unemployed. Yeah.
Eric: Correct.
Rachael: So the highest ranking or the highest rating of happiness in the working cohort was 38% at retired. So-
Eric: I guess it'd be interesting- One in three ... to see how they asked this too. Yeah. Like, I wonder if you, if you poll only retirees, right? Because, like, maybe I'm, maybe I'm working right now- Yeah
and I think that I'm gonna be happier when I'm retired- Right. Right, right ... but maybe I'm not. Right. You know? Or maybe it w- but if you're retired, you're the only person that's covered the whole spectrum, right? Well, I guess maybe, may- maybe you m- you might not have been unemployed past- Yeah ... like age 18 or so, but- No,
Rachael: that's true.
You may not have even worked part-time, to be honest. That's
Eric: true. Yeah, yeah.
Rachael: Um, but it could be, like we had discussed in the previous episode, an issue of not retiring to something.
Eric: Mm-hmm.
Rachael: Or the issue of kind of like y- the vacation anticipation, right? You work towards this idea, but you think it's gonna be amazing, and then you're like, "Ugh, I have to put on sunscreen.
I'm in line."
Eric: Right.
Rachael: So it's really tough to say, but this could be a reflection of the grass is always greener-
Eric: Yeah ...
Rachael: situation for others.
Eric: I think a lot of what we said in the last episode- Yeah ... applies here, too, in that people think that just because I retire that my life is going to be meaningfully better, and it not, it...
The answer to that question in my mind is just not necessarily. Like, you need to do a little bit of work on what makes you happy, and you- Yeah ... get really clear on what your values are.
Rachael: Perfect. This next one, which broke them up into the amount of money that they had coming in, so we're talking income, um, there's four different ranges that they had.
And I would have thought that it would have been broken up pretty fairly amongst, like, quartiles, right? So, like, your bottom 25%, your, um, you know, kind of middle 50, and then your upper 25, right?
Eric: Okay.
Rachael: And the range is where people earning under 30,000, 30 to 75, 75 to 150, and then above 150.
Eric: Okay.
Rachael: Okay. So as expected, there was certainly, um, a curve in happiness that kind of matched that income level.
So the more you were making, the happier your group reported. Mm-hmm. But again, the margins really surprised me. So in looking at those, if I told you that the under 30,000, 23% of them reported being happy. Significantly higher than I would have expected.
Eric: Same.
Rachael: Then the over 150, 47% of them reported being happy.
So less than half. So under what I would have expected.
Eric: Right.
Rachael: Thoughts on that. Very- What would you attribute it to?
Eric: It's interesting to me that all of them are less than 50%.
Rachael: Yeah.
Eric: So of, no matter what your income level is, more people are unhappy than happy. That's-
Rachael: Yeah ...
Eric: that's pretty interesting, right?
Like, that's, that kind of jumps off the page. Right. And then-
Rachael: Yeah ...
Eric: over 150 and you're not happy, that would seemingly lend credence to the money can't buy happiness.
Rachael: For sure.
Eric: But I do think that the disparity between the over 150... Like, it does scale up, right? Yeah. So under $30,000 a year- You're 20- 23% were happy or identified as happy, right?
And then 30 to 75, 30, right? So you have a jump of 7% there, and then a jump of 9%. Right. 75 to 150, to 39% were happy. And then over 150, you had 47% being happy. So, like, it scales up pretty, pretty-
Rachael: It was the second- ... heavily ... largest range from the bottom number to the top number of the ones that we're talking about, so it's not surprising you would see that.
I am surprised it wasn't spread more.
Eric: Yeah.
Rachael: Um, but, you know, it does play to the idea that money does increase happiness, but not nearly at rates that we would expect.
Eric: Yeah.
Rachael: Um, the next subcategories were family. So they compared single parents-
Eric: This is super
Rachael: interesting. ... married without children. Very.
Married without children, and then married with children. So We are married with children, and I would have expected that group to be at the top.
Eric: Yep. I
Rachael: would've as
Eric: well. It
Rachael: is not. It is not. And-
Eric: I could s- Those- I have very much suspected right here.
Rachael: Well, those, um, you know, I have very close friends who are single parents.
Eric: Yeah.
Rachael: Um, not surprised that group is not at the top either.
Eric: Same. I would expect that to be the lowest. The workload is in...
Rachael: It is. And it is,
Eric: right. Yeah.
Rachael: It is, it is the lowest, not just in this cohort, but it is the lowest of any of the subgroups discussed- Right. Right, right ... whether broken down by work, money, et cetera.
Eric: Lower than unemployed, but barely.
Rachael: Yeah. Yeah. But it's, I mean, and it's not a surprise. Watching single parents do what they're doing is- I
Eric: mean, and anybody- ...
Rachael: remarkable ...
Eric: anybody that has kids and has been on solo duty while their spouse is, you know- Yeah ... on a work- The resentment goes real ... trip or whatever, it's gonna be- It's hard
it's significant.
Rachael: It's hard.
Eric: The workload is very real.
Rachael: For sure.
Eric: And it's pretty thankless for the, especially through the early years.
Rachael: Yeah. But there is a 5%, um, delta between married with children happiness and married without children happiness.
Eric: Yeah.
Rachael: You know, and 5%, you know, may not seem super huge, but, like-
Eric: That's still-
Rachael: It's pretty huge when we're talking about numbers that never exceed 50%.
Eric: Right.
Rachael: Right. So then you're talking... It, it's big. So why do you think that people who are married with children would report being less happy than people married without children?
Eric: Oh, I c- You ready? Is there a time limit? Um- Yeah ... I think that I like to believe that I'm able to speculate on this, both because I'm, it's a lived experience.
Um, or at least, you know, we have kids- Yeah ... and we knew what it was like to be married without kids and then married with kids. Yeah. And also because it's our cohort, right? Like, most of our cohort is married with kids. Mm-hmm. I think it's, I think broadly speaking, that it's a lot of... I don't wanna say... It's not keeping up with the Joneses in terms of purchases, right?
Like, you hear that i- in terms of, like, oh, the, the neighbors have really nice new cars and ours is kind of a beater. Maybe we should upgrade our cars so that we're not left behind. Or they got this new cool thing, I should get this new cool thing, whatever. I think of it as people are checking boxes because they think it's what they're supposed to do.
Mm. Like, you graduate college, and then there's, like, I don't know, some families put overt pressure on their kids to get married for whatever reason and start a family. You know? Yeah. Like, I've heard, I've heard some people, like- When
Rachael: you gonna have a baby?
Eric: Yeah. When am, when am I gonna get grandkids? You know, when are you gonna have babies?
Exactly. Yeah. Right? So you hear that, and that's, like, that's... it's real. Like, yes, it's in, like, sitcoms and whatnot, but it's also, like, our friends will tell us, like, "My mom will not stop asking when do I get a grandchild" Yeah ... right? And so that pressure's real. And so, like, I just think there's a lot of, uh, maybe not so much going through the motions, but trying to achieve what you think is going to give you happiness in the same way that you're trying to retire because you think the goal is to retire-
Rachael: Yeah
Eric: and that when I retire, I've, you know, I've hit, I've, I've won. I've done it.
Rachael: Yeah.
Eric: And that, that this it, you know, is just kind of this party all day. Like, it's just a perpetual utopia afterwards, and that's not necessarily true. But anyway, I think speculatively that- When people have kids-
Rachael: Mm-hmm ...
Eric: they are not unaware of...
First, I, I don't think that there's the, the level of intentionality that is required, and I don't think there's a forethought given to how difficult it actually is, right? Yeah. Like, it's a... A- and how thankless it is, right? Like, kids are not particularly thankful, right? Like, there's a talk about, like, what, like, the six- w- they're all egotistical.
Like- They're supposed to be ... only egotistical. Yeah. And it's behaviorally appropriate- Yeah ... until what, like age-
Rachael: Psychology says it ...
Eric: 13, 14, 15? Teens. Like, they have to be going through puberty, um, a- and get into their late teens before they're gonna start thinking about the world as la- at large.
Rachael: It's hard, and a lot of the mental and physical load that you're carrying as a parent is Uh, you know, unappreciated-
Eric: Yeah
Rachael: in those moments. Like, it's not until having kids ourselves that we're able to reflect on some of the stuff our parents did and be like, "Well-"
Eric: Yeah, that was really nice of them. "That was pretty awesome." They must have had to... Yeah, they had to really
Rachael: try hard. That was a really hard thing. Right. Like, you can't relate to that until you're
Eric: a parent.
Yeah, and you're foregoing- Yeah ... all of the experiences that you got to enjoy. You know, if you think of being married without kids, it's not s- I mean, it's college, but now you have money. You know what I mean? Like, so now you can go to these parties and it's not just putting it on your parents' credit cards or-
Rachael: There's a big reason-
allowances ... that there is a, you know, a growing movement of, like, intentionally- Yeah ... kid-free lives, and I think that that's remarkable and fantastic. And if that is the, you know, route that you've decided and you've identified that for yourself- Yeah ... bravo. It's completely fine. We knew that we would not be happy without having kids.
It was something- Yeah ... that we very much wanted. Um, and I think that, you know, we're very happy with that decision every day, but maybe not every minute of it every day.
Eric: Sure.
Rachael: There are minutes that are just harder than others. Oh, yeah. Um, but yeah, I think that's interesting. I also int- I'd be interested in seeing how that has changed over time as social media's become more prevalent.
Eric: Oh.
Rachael: Because you see all these people- Yes ... with their, like-
Eric: Thankfully,
Rachael: I'm off of it most of the time ... perfect family. Well, that's true. He's not. But you see all of this stuff, and if you truly believe that that is what's happening in other people's lives, it may lead to a, "What the heck is wrong with me?
What am I doing wrong?" Sure. "My house doesn't look like that."
Eric: You know, another-
Rachael: I, you know- Oh,
Eric: sorry.
Rachael: Another, um- No, no, no, you're right ...
Eric: another speculation I would make is that when you're choosing your partner, your wife, that was a conscious decision based on your knowledge of their person and personality.
When you have kids, there's no choice there, right? Yeah. Like, you don't choose your children's personality. Maybe they're like you, maybe they're like your wife. Maybe you don't love that they're like you. You know what I mean? Like- Maybe
Rachael: they're not like either of you.
Eric: Right. Maybe they're just... You don't know, right?
Yeah. Like, you, you start to consider- That's
Rachael: true ... other o- options as to how
Eric: they arrived. That is true. But, uh- That's a fair question. Yeah.
Rachael: No, it's absolu- absolutely But
Eric: so there, there can be some discord there that's no fault of yours or your kids'. Yeah. They might just... Your personalities might just not align perfectly, right?
And so that- For sure ... can be problematic. So there's just a number of things that are... Some of them are just uncontrollable. Yeah. And then I think some of the sense of fulfillment and satisfaction is delayed. So like, you know, if they ask the kids- I agree ... you know, married with children, "Are you happy?" And their kids are, like, three and six or whatever- I was gonna say
and they're just throwing things at dinner, at the dinner table- Yeah ... you're not, you're probably a lot less likely to answer yes than you might be when they're off to college- Yeah ... you know, and then you've- I- ... raised them well or you feel like they're, you did ...
Rachael: I would argue that the three to six
Eric: is- Is better than the, like-
Rachael: peachy compared to puberty.
Eric: Sure. Okay. Yeah. And into adulthood. Teenage years, not great. No, I,
Rachael: I think that there are there are good and bad from every age. group. So I think- Yeah ... it depends upon the day it's asked of people with children, the age of their ki- all the things.
Eric: Yeah, but there's a- How
Rachael: supportive your
Eric: parents are
just zoomed out though, I just think it's- Yeah ... I just think it's one of those things that people view as, you know, oh, it'll be kinda like a dog or, you know, like it's, it's a little har- little harder than a dog is kinda how you would w- wanna like frame it in your mind before they arrive. Yeah. And then you're like, dude, this is a different- You don't
Rachael: know how choppy the waters are until
Eric: you're out there
yeah, exactly. This is a dramatically different game- It's true ... than I think I signed up for.
Rachael: And the last one that I really wanna touch on that I think was pretty interesting was age. Um, they broke it up between 18 to 24, 35 to 44, 55 to 64, and 65 plus. And I was kinda surprised. I think I- Same ... expected the youth, the younger- Yeah
group to be happier. Um, the lowest reported happiness is in that 18 to 24 age range, which is really interesting 'cause that's, you know, the age that many are entering- Right ... college and-
Eric: It's pretty flat though, right?
Rachael: It is. So
Eric: like from age- And the
Rachael: range is only 27 to 38%.
Eric: Yeah. So they broke it up from like 35 to 44, and then 55 to 64.
Um, but from 35 to 64, you're basically at like 35% of people say they're happy. Yeah. And then 65 plus is 38%, so it's pretty close. It's pretty
Rachael: flat.
Eric: And then the 18 to 24 is at 27%, so that, that bit is lower than I would've thought.
Rachael: Surprising. But I do think that at the point in time that you are entering adulthood and doing all that stuff, you're starting to realize that this like peachy keen, the kind of sheltered life your parents may have cultivated for you isn't necessarily how the real world is.
You're starting to become more aware of things that are happening on a national and global level-
Eric: Yeah ...
Rachael: political unra- whatever it is.
Eric: I'd like to say as a brief- You know ... uh, you know, a little-
Rachael: Go ...
Eric: a little anecdote, I think this is a little Andy Bernard from The Office, um. What, what is the line that he says?
It's, uh- I wish- "I wish somebody could tell you you're in the good old times when you're in them" I w- Or something like that, right? Yeah. Like-
Rachael: I wish you knew it was the good old times before they've like passed you up or something like that.
Eric: Right, right, right. And I think that, like, so if you're asking- But you were still in them
18 to 24-year-olds if you're happy- Yeah ... they're like, "Oh, I have my exams, and- That's- ... I have all this pressure from my parents to get a good career- ... so true ... and to get married and have kids."
Rachael: True. "
Eric: And I don't know." So true. And then you're, and then looking back on it, I mean, if they ask 65-year-olds, "When are you most happy?"
They might have said, "When I was 21," you know?
Rachael: Yeah. That is true. Um, and then, you know- That could
Eric: be the halo effect as well though.
Rachael: Yeah. Well, and that segues really nicely into this other aspect, which honestly I was quite surprised by how heavy, uh, genetics kind of plays a role here. But they kind of broke down what determines happiness in an individual.
And so imagine like a pie chart. I'm gonna put it on the... Oops. I'm gonna put it on the screen- ... if I don't whack the mic over. But, um, 50% of whether or not you are happy comes from genetics. 50%. Um, so that's heavy, and that's nothing... You can't really do anything about that, right? Nope. So, okay, take that 50% and just put it off the table.
10% comes from, um, circumstances like, uh, external factors such as income, beauty, um, other things like that, some of which you may have minimal control over, some of which you may have more control over, some of which you may have none. But 10% from external things, which honestly was smaller than I would have expected.
Eric: Same.
Rachael: But then 40%, the remaining piece, comes from Your behavior and choices, like exercising, socializing, things that you have- Exercise
Eric: is
Rachael: big ... total control over, right?
Eric: And it's free.
Rachael: So, yeah, 40% though. So 40% of your happiness. And so they kind of broke down six metrics that they looked at and determined, um, to be very impactful in that 40%.
So I'm gonna go through those with you, Eric, and you're gonna tell me how effective or how meaningful that is for you in that- ... 40% range, right? Okay. How much it moves the needle for you.
Eric: Yeah.
Rachael: Okay? So first one is getting more sleep.
Eric: Sleep more, yes.
Rachael: I'm in. They said the happiest people get an average of eight hours a night.
Eric: If I don't, then I'm upset. The, like I, I just don't function. I can, you can feel, like, I feel like I don't fire on all cylinders- Yeah ... when I don't have the right amount of sleep, and it's definitely, definitely a quality of life hit there.
Rachael: Would it surprise you if I told you that 42% of US adults get less than the minimum of seven hours?
Eric: No, that wouldn't surprise me at all. I mean, I know people that tell me that they get four or five hours regularly, and I'm always surprised by that. And they say they're okay with it, but I'm like, "There's no way," right? Like, I don't know. I, I can't relate because I would absolutely cease to function very quickly.
I
Rachael: get four to five hours regularly and I'm not happy.
Eric: That's sad.
Rachael: I mean- That's
Eric: very sad. I know.
Rachael: Well, s- you know, uh, it is what it is. What are you gonna do, right? But, right, exactly. Um, it's not for lack of trying.
Eric: Yeah.
Rachael: Um, okay. Number two, Eric, exercise.
Eric: Yeah, huge. Yeah. Absolutely enormous. Endorphins plus, you know, satisfaction.
You feel like you've done something useful, right? So, like, it's, I think it's productivity b- boost too. Mm-hmm. So, and allows you to eat more calories, which is obviously amazing. That's like the only reason- 'Cause food out is the best ... to be here is to eat good food, right?
Rachael: Um, and you know, they're starting to incorporate exercise in a very meaningful way, um, for treatment of, like, depression and, and long-term benefits there as well- Mm-hmm
'cause the studies show how impactful it is. Number three, going outside. While getting too much sun is a bad thing, um, the sunlight boosts synthesis of serotonin, of serotonin and can combat depression. So I think this study was talking about getting 15 minutes of natural sunlight a day.
Eric: It's interesting to me.
I don't, I don't know that I would, I, for me, I don't think it-
Rachael: I think you'd be fine without it.
Eric: Yes. I don't think it- I would be ... moves the needle for me. But also it's hard because I, when I'm exercising, I'm typically outside. That's true. Like I might be in the garage gym, like hitting the bag- That's true
or like doing pull-ups and whatever, but like most of the time, like if I think of exercise, I'm thinking like I'm playing touch rugby or rugby- Yeah ... or jogging. But
Rachael: I think if it was storming- Biking ... completely overcast, there was no sunlight at all, you would get the same benefit from your exercise, if not more.
Eric: Oh, for sure. 'Cause it's dark. Oh, I thought it just was outside. I didn't realize
Rachael: it was just- I mean, it is ... it was sunlight. But they were talking about sunlight being- Yeah ... what boosts that synthesis. For me-
Eric: Maybe it's true, but if it is- I think it's- ... I'm not aware of it ...
Rachael: I think it's very important for me.
Eric: Yeah, you want the windows open. I
Rachael: do. I want it closed. I want that natural sunlight. It's super fun-
Eric: Yeah, I've always- ...
Rachael: being with a partner.
Eric: I like sleeping in a coffin, so.
Rachael: But yeah, I think the sunlight's really important I mean, I don't
Eric: actually sleep in
Rachael: a
Eric: coffin, but I want the environment to be like that of a coffin.
Rachael: Since our last- Do you agree? ... episode, we have gotten a new puppy. Aww. Who you may or may not be hearing whimper in the background, but- ... he enjoys 15 minutes of sunlight with me. So we usually start our mornings together outside. Um, I'm usually kind of thawing out from the frozen ice box that he likes to keep the house at.
Um, but being able to have a morning coffee- It's not a frozen ice box ... it is ... it's 63
Eric: degrees.
Rachael: It's ridiculous.
Eric: A sensible 63 degrees.
Rachael: So I'm usually outside in a sweatshirt in the Louisiana summer heat with a coffee with my sweet puppy, but sunlight definitely helps me. Um, number four, which is a surprising one that we don't really hear all that much, is eating more fish.
The omega-3 fatty acids are
Eric: something to Maybe that's why I like sushi so much. It's hard to say.
Rachael: That's true.
Eric: I thought it was always the soy sauce and wasabi, but it could be the fish.
Rachael: The wasabi is very nice.
Eric: Also avocado. I'm a big fan of avocado. Salmon avocado rolls are my jam though, so, you know, maybe there's something to the omega-3.
Rachael: Well, there's 26 studies that have all kind of supported that the people who ate the most fish had a 17% lower risk of depression.
Eric: Wow. That's interest- Yeah ... that's, that's pretty significant.
Rachael: Huge. Huge, huge, huge. I
Eric: wonder why that is. It, it also probably has to do with, like, healthy eating habits too, right?
Sure. Like, so, like, I feel like if you're depressed, you're more likely to not care what you're eating and eat-
Rachael: That's fair ...
Eric: worse.
Rachael: But it's interesting because this one was more of, like, a proactive thing that kind of shielded you rather than, like, you know-
Eric: Yeah ... things like s- I just think of it as, like, kind of self-selecting, right?
Yeah. Like, if you, if you surveyed, like, all people that, I don't know, go on ... I'm trying to think of things that would just innately be things that happy people do. Like go on, like, missions to, like, Africa or something like ... You know what I mean? Like feel, people that feel like they're really giving back to society and the world, like they probably are pretty happy by doing
Rachael: that.
That's fair. You don't know how many people are really- And
Eric: so if you just go survey them, they're probably like- But- ... "I'm really happy" ...
Rachael: they didn't specify that it was sushi. It could be fried catfish for all we know.
Eric: Touché. Yeah. Yeah, that would, that would- We don't know ... so that would surprise me.
Rachael: Yeah, yeah, me too.
Eric: That would surprise me if it's like- But- ... "Yeah, eat some fried catfish. Be happier" ...
Rachael: it ju- it was just fish.
Eric: But no, I, I can get behind that though. I, I mean, I like salmon and, and, and catfish and- Now
Rachael: number five, standing up straight There was a study done that found that New Zealanders with upright posture reported feeling more enthusiastic, excited, and strong.
Wow. Their slumping counterparts were more fearful, passive, and sleepy. This is a, for me, this is a cart before the horse. Like- Yeah. Yeah, yeah ... are you slumping like that because you're not happy or getting enough sleep or energetic? Right? Like, which one came first for me?
Eric: I find myself unhappy with myself for slumping in my chair, right?
Like, if I'm playing- Yeah ... video games- Fair. Fair. Fair ... or just doing work on the computer- Yeah ... and I slouch or whatever, I'm like, "Oh, Eric, sit up." Like, "This is bad." I
Rachael: can tape a yardstick
Eric: to the back of you, if wants. Yeah, I should try, right? But I don't, I've never thought of it that way. But I, that's another one that wouldn't seem to move the needle.
Like, I'm not acutely aware of it, so maybe
Rachael: I am. Anyway, okay, okay. Your job then for the rest of the day is to try to walk with a better posture and report back after.
Eric: Yeah, I'll do
Rachael: that.
Eric: Okay. Feels weird.
Rachael: Um, now number six, we've talked a lot, we've been talking about this since college when I learned
Eric: about this study.
You were good at... Yeah, you told me to do this. Yeah, yeah, yeah.
Rachael: And it works. So it's smiling. Um, there were studies done that showed that smilers enjoyed lower heart rates during stress recovery, had a smaller drop in positive emotions during stressful tasks. It also shows it artificially reduces the ability to frown, like Botox could also relieve depression.
Now take that with a pound of salt.
Eric: Yeah. I'm gonna go ahead and say-
Rachael: But- ...
Eric: I wanna be on the record as not endorsing anything about that. Yeah. Thank you.
Rachael: No, it was just one thing that they found in this one study, but, um, you know, smiling is something we recommend to our kids when they're getting shots, right?
Because it can immediately kind of release that-
Eric: Yeah, you said it just releases the- It does ... you know, the positive hormones, right? Yeah. Like, is it, what is it? What hormone does it release?
Rachael: Um-
Eric: Is it dopamine or?
Rachael: I thought when
Eric: I looked- When you smile?
Rachael: We'd have to look that up- We'll have
Eric: to do some research
Rachael: 'cause I don't
Eric: want to mispeak. Yeah. But- Sorry, I like to ask questions that I don't have the answers to.
Rachael: But it, it does indeed, um, work. Studies have shown that it works. Consciously making an effort to smile-
Eric: Yeah ...
Rachael: um, can be very helpful. But again, do it on your own terms. Don't do it because someone tells you to do it.
Eric: You told me to do it while running- Especially then ... and it helps. It does. So, like, when you're tired after, like- When you're doing hard... Yes ... yeah, when you're doing, like, a hard cardio workout or something- An artificial boost of energy ... and you smile, then it does help. Helps a little bit. Gives you a little kick.
Rachael: Without a doubt.
Eric: I like it.
Rachael: So this kind of wraps up, you know, the episode has been a little bit long, but it's really fascinating. There's a lot of information. There's a lot we still haven't gone through.
Eric: Right.
Rachael: Um, so we may have future episodes kind of continuing to address this thematic thing throughout.
Mm-hmm. Because the, again, the entire purpose behind financial planning is really to make your life work for you.
Eric: Right.
Rachael: Um, and if you're not enjoying it, that kind of defeats the purpose.
Eric: Right. We're trying to maximize your happiness and use your resources. Make sure that your resources are aligned with your values- Mm-hmm
and your values should be things that are going to maximize your happiness, right? So there's more to financial planning than just making the numbers bigger- Than the numbers. Yeah ... in your retirement accounts.
Rachael: Yeah.
Eric: That is certainly part of it, because it's more difficult to do all of these things whenever you want them if you don't have dollars in your bank account, but the idea is that we should be focusing less on the hedonic treadmill, because we are incredibly quick to adapt to things- Mm
that we purchase, especially goods and s- uh, goods rather than services and experiences, and your time.
Rachael: Yeah.
Eric: Right? So broadly speaking, less things, more experiences, more time back, more autonomy.
Rachael: Yeah, so if- Right? ... if having a s- a meeting-
Eric: And philanthropy ... with your
Rachael: financial... Yeah, if having a meeting with your financial planner starts turning into what feels like a, um, mild therapy session-
don't be surprised. Yeah. Their... Chances are that they are genuinely trying to help you to identify and think about how to spend your money in the best way possible.
Eric: That's right.
Rachael: All right. Well, until next time.
Eric: Thanks, guys.
