#47 Mike Duffy - Happiness, Money, and Contribution

Chatting with Candice
Mike Duffy
Episode Run Time: 01:18:19

Mike Duffy is the CEO of Happiness Wealth Management, the founder of the Happiness Hall of Fame, and a motivational speaker. He is the author of The Happiness Book: A Positive Guide To Happiness! and four other titles on the same topic. With his expertise on both money and happiness, Mike is on a mission to help others achieve financial independence and lasting joy. In this episode, I talk to Mike about the factors that influence happiness and how to sustain it. We also share our own stories of how giving has contributed to our personal sense of fulfillment.

00:00:00 00:01:25 Introducing Mike Duffy
[00:02:45] Alcohol, drugs, and happiness
[00:10:08] The happiness formula
[00:16:05] Candice’s dream
[00:20:34] Scientifically proven indicators of happiness
[00:27:51] The difference between happiness and joy
[00:31:05] Happiness of giving VS receiving
[00:35:15] The Happiness Hall of Fame
[00:41:08] How do you sustain happiness?
[00:46:14] Golf as “social yoga”
[00:52:17] Overcoming the negative bias
[00:57:03] Be vulnerable and courageous to live authentically
[01:01:30] The conscious practice of gratitude
[01:06:37] Travelling and the human need for variety
[01:13:20] Take a chance on yourself

The Grant Study by Harvard followed 300 participants over the course of 75 years. It’s been found that alcoholism had a negative impact on happiness and marriage. Drinking in moderation is fine, but not everyone is capable of controlling themselves. The lack of intentional use for alcohol and drugs can easily lead to substance abuse.
In order to achieve long term happiness, one must combine purpose and progress. Identify your life purposes. Next, enumerate the steps that you can take to make progress in those areas. We’re all capable of greater happiness if we write down our goals and stay on track. Knowing our purposes prevents us from succumbing to vices.
Other important factors that can influence happiness is spirituality, relationships, and autonomy. Numerous studies have shown that people who have faith, who are part of a community, and who work for themselves are much happier than their counterparts. Interestingly, altruism also plays a big role in happiness. Be it with words, deeds, or gifts, giving contributes to our sense of fulfillment and ripples out to make positive changes in the world.
The COVID-19 pandemic has provided many with the opportunity for self-reflection. People were forced to re-assess their priorities and how they spent their time. After much rumination, Mike encourages people to be boldly authentic. Go after the passion project or business idea you’ve been holding yourself back from. It’s time to take a chance on yourself. Even if you fail, you’re coming out wiser and stronger than ever. Humans have the tendency to dwell on the negative, but this bias can be combatted through the conscious practice of gratitude.

Links and Resources
Mike Duffy’s LinkedIn https://www.linkedin.com/in/mike-duffy-30ab0518/
Mike Duffy’s Website https://mikeduffyspeaks.com/
Happiness Hall of Fame Website happinesshalloffame.com/
Happiness Wealth Management https://www.happinesswealthmanagement.com/