Understanding Hedonic Adaptation in Behavioral Finance with Dr. Bryan Foltice

Welcome to the Bryan Foltice Behavioral Finance Podcast! In this episode, Dr. Bryan Foltice dives deep into the concept of hedonic adaptation, also known as the hedonic treadmill. Dr. Foltice shares his personal journey, transitioning from the corporate world to academia, and illustrates how we often adapt to both positive and negative life events. He further discusses the impact of this adaptation on financial decisions, the pitfalls of lifestyle inflation, and the importance of aligning financial goals with personal values. Learn practical advice on practicing gratitude, spending on experiences, and aligning your finances with life goals for long-term happiness. Tune in for an insightful discussion on making smarter, more informed financial decisions.

00:00 Introduction to the Podcast
01:33 Understanding Hedonic Adaptation
02:14 Personal Journey: From Investment Banking to Academia
07:13 Achieving Tenure: The Emotional Rollercoaster
14:08 Hedonic Adaptation in Financial Decisions
19:51 Strategies to Overcome Hedonic Adaptation
24:02 Aligning Financial Goals with Life Purpose
26:17 Conclusion and Final Thoughts

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