Wealth & Happiness

According to Young Money author Jack Raines, the definition of opportunity cost is, “the loss of potential gain from other alternatives when one alternative is chosen.” It’s at the core of every decision you make, regardless of whether or not you’re consciously aware of it.

You might spend time planning for your financial future, making a better business decision or finding the perfect pair of shoes, but what about planning for your happiness?

We all have a tendency to control as much in our lives as possible. However, what if learning to not force things brought you closer to the life you desire?

Your concept of money will inevitably change over your lifetime; however, you’re more likely to see the most drastic changes at the beginning of your life, as well as at the end (when thoughts around money tend to mean nothing).

Here, 38-year-old blogger, Peter, compiles the biggest takeaways of reaching financial independence.

Day-to-day happiness is something that will fluctuate over your lifetime, but when it comes to overall happiness, what lends to a “satisfied life”?

In addition to being an American Founding Father and innovator, Benjamin Franklin was also our “nation’s first happiness professor”, as described by filmmaker Ken Burns.

The presence of additional income brings you upgraded items and experiences, but that extra income also often comes at the price of giving up more time.

Money (more specifically, the thought of not having enough of it) can elicit fear for many reasons, but often, the biggest is due to it triggering a sense of survival.

I’m always interested in learning more about the concept of happiness. After all, isn’t the goal to live a purposeful life as our happiest self?

According to a recent Gallup study, the satisfaction Americans are feeling as far as their personal life goes is at a near 40-year high. On the other hand, their feelings toward “the way things are going in the U.S.” is nearing a 40-year low.

What constitutes the “good life” for you: Being rich, or being wealthy? While they might sound one and the same, the mindset behind each brings about vastly different money mannerisms.