Why Wanting Less Makes You Wealthy - Society's Complex Relationship With Money - Ep. 5

Ego Lab

How To Live Like A Millionaire - And How To Do It Without Money

How much money do you need to be happy?

Why comparison is in our genetics

Why we care so much about money

Why lottery winners wind up miserable

Live your dream life for way less than you suspect

What the science says about happiness and money
Episode Summary:
Why does society view money as the ultimate status symbol, and how does this perception affect our overall happiness? This episode tackles these provocative questions and more as we dissect the complex relationship between wealth, happiness, and self-worth. We dig into the societal push for financial abundance and the consequent pressure to climb the socioeconomic ladder. But, are we losing sight of what truly matters in this race for riches?
We also deep dive into the concept of 'enough' - a state of contentment that stems from gratitude, not from amassing wealth. It's not about the money itself, but the options that money can provide. What if the pursuit of happiness is not about acquiring more, but about appreciating what we already have? We examine how our inherent qualities – positive or negative – can be amplified by wealth and the influence of our surroundings on our life choices and values.
In the quest for success, we may risk it all only to find ourselves in a destructive downward spiral. So, how do we redefine success and wealth? It's time to question conventional definitions and focus on discovering our true values. We wrap up the episode with a thought-provoking discussion on the influence our surroundings exert in shaping our lives and the role of wealth in this process. So, let's break free from societal norms and embark on a journey toward financial enlightenment and genuine happiness.
Timestamps
0:41 Why do people care so much about money?

5:49 Want to be wealthy? Ask yourself, “Why do you want it in the first place?”

8:16 What you really need to be happy in your life

10:27 How comparison robs you of your happiness

13:43 How one bad idea can change your life forever

16:45 Why lottery winners are miserable and what would you do if you had a million dollars?

19:20 The Billionaire party and having enough

21:32 The difference between money and wealth

26:27 How to live like a millionaire without a million dollars

30:10 Are people with more money actually happier? What the science says

33:26 How to think more creatively about making enough money

36:12 What will make you feel like a millionaire?