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Episode 19 is a fun, unique episode, delving into the connection between \u201cmore money\u201d and \u201cmore happiness.\u201d Turns out, Jonathan has literally written the book on this complex relationship. Do you know what studies suggest is the \u201cline in the sand\u201d for annual income, separating happy and unhappy people? Good chance it\u2019s lower than you think. But why? Jonathan tells us. That dovetails into a discussion about how people should spend their money in order to optimize their happiness. It turns out that spending our money on \u201cexperiences\u201d with important people in our lives produces far more intrinsic happiness than money spent on \u201cthings.\u201d Next, Meb leads the discussion into familiar territory \u2013 investing. Jonathan notes two major traps most of us fall into when investing: 1) overconfidence, and 2) loss aversion. These two Achilles Heels tend to inflict significant damage to our portfolios. So what\u2019s our best defense? Jonathan gives us his three-pronged strategy. The topic then moves to portfolio construction, with Jonathan noting how his own approach has changed from a U.S.-centric, core-holding starting point to a global-market-portfolio starting point. Next, they move to a topic less discussed on the podcast: retirement. Jonathan gives his thoughts on withdrawal rates, portfolio management strategies in retirement, and even timing suggestions on when to start taking Social Security. There\u2019s far more on the show, including what studies say about the effect of kids on happiness, why we need to flip our advice to our children (instead of \u201cpursue your passions early in life\u201d it should be \u201cwork your butt off early and save, so you can pursue your passions later\u201d), and finally, specific action steps you can take right now to be a better investor. What are they? Find out in Episode 19.\nLearn more about your ad choices. Visit megaphone.fm/adchoices