episode: 108

Does Money Buy Happiness?

February 18, 2025

The Psychology of Wealth

What role does psychology play in financial decision-making? How can behavioral biases influence your investment success? And what does it truly mean to find purpose and meaning in wealth?

Marcelo Taboada welcomes Daniel Crosby, a renowned behavioral finance expert and author. Together, they explore the psychology of investing, how money and happiness intersect, and the core principles behind his latest book, The Soul of Wealth. Join us as we uncover how your mindset impacts financial success, the biggest behavioral biases to avoid, and the philosophical shift needed to make wealth truly meaningful.

Thank you for tuning in!

How Behavior Shapes Financial Success

Introduction to Daniel Crosby and his work (0:00:00)
The intersection of psychology and finance (0:02:07)
Daniel’s career shift from psychotherapy to finance (0:04:00)
Behavioral biases that impact investing (0:07:32)
The inspiration behind The Soul of Wealth (0:10:45)
Can money buy happiness? A research-backed answer (0:14:23)
The importance of social connections in wealth and happiness (0:17:56)
How hedonic adaptation affects our financial decisions (0:20:35)
Why experiences often provide more joy than material goods (0:24:10)
The role of generosity in wealth fulfillment (0:27:45)
The biggest financial regrets people have (0:30:33)
How the PERMA model applies to financial well-being (0:33:29)
The shifting perspectives of younger generations on wealth (0:38:10)
Practical strategies for a meaningful financial life (0:41:30)

And much more!

Mentioned in this Episode:

Thanks for Listening!

Thanks for Listening!

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