The winter months can be brutal in Michigan. The sun rarely peeks out from behind the clouds. I love the warm weather so at least once a year, probably pragcap bitcoin stock January or February, I fantasize about moving somewhere warmer and curse myself for living in the cold. The problem with this line of thinking is that moving somewhere warmer probably wouldn’t make me any happier.
The research on the focusing illusion backs me up on this when Daniel Kahneman sought to answer the question: Are people who live in California happier than others? Kahneman and team studied two groups — one from the miserable Midwestern climate and the other from sunny California. Of course, they discovered that Midwesterners despised their weather while Californians enjoyed theirs. But climate had no impact on well-being as there was no difference whatsoever in the life satisfaction of the two groups.
Basically, we place too much weight on one factor such as weather and too little weight on the other aspects of our lives that impact well-being. Permanent changes to circumstances in your life don’t have much of an effect because after the initial rush it becomes commonplace and you get used to your new surroundings. Certain things in life are initially exciting but eventually lose their appeal. My response to this stat was that money is great and all but you could make the case that the majority of young bitcoin millionaires will be worse off for it in the end.
I’m sure there are a handful of newly minted rich young people who fortuitously timed the rocket ship that is cryptocurrencies. I received some pushback on this so I wanted to explain myself. Making tons of money at an early age is probably a combination of the best and worst thing that can happen to you. It gives you tons of possibilities but also opens you up to potential problem situations if you’re not equipped to handle it. NFL players are broke or bankrupt after being out of the league for two years.