![]() The rest of your happiness level is determined by where and how you live your life, and your mindset. We pursue pleasurable things because we think theyll. The Happiness Set Point is a theory that says 50 (or more) of your happiness is determined by genetic factors. ![]() You thought you’d be happy when your portfolio hit a certain threshold, but once it got there, suddenly it doesn’t feel like quite enough, so you press on, delaying retirement a little longer. The Hedonic Treadmill explains why people who achieve wealth, status, and fame continue to seek more. Our job is to help our clients attain financial freedom - but how much is “enough?” When are you done? Like a treadmill set on incline, wealth accumulation can feel like a hill that never crests. Note the change in hedonic set point, reflecting an allostatic state produced by chronic dysregulation of the dopamine and CRF systems. Hedonic adaptation is a concept studied by positive psychology researchers and others who focus on happiness and well-being that refers to people’s general tendency to return to a set level of. These are worthy practices, but somewhat outside the scope of wealth management. There are many recommendations for how to accomplish this, ranging from the practice of mindfulness (appreciating the present moment, knowing it won’t last) to expressing gratitude for what you have. Where does it end, and how do you (to quote George Jetson) “stop this crazy thing”? Sometimes the good vibes will last for a little while, but once the degree has been framed, the new car smell has faded or the raise has been negotiated, you’re left wanting the next new thing to bring a hit of dopamine. Hedonic adaptation refers to the idea that all people have a happiness “set point” they tend to return to following major life events or purchases. They acknowledged that some people experience significant changes in their hedonic set point over time, while the majority do not, and argue that the happiness set point can be relatively stable throughout an individual’s life, whereas the life satisfaction and subjective well-being set points are more variable.
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