Build Your Happiness Portfolio

The Three Types of Happiness

Many people talk about “being happy” as if it’s one thing.

But research shows there are at least three distinct kinds of happiness, each satisfying a different part of our psychological needs.

Understanding these categories helps you see where you’re thriving, where you’re lacking, and how to take deliberate action towards a life you love.

1: Hedonic Happiness // Feeling Good in the Moment

This is the classic “pleasure” kind of happiness. It’s about positive emotions, comfort, enjoyment, and the absence of pain.

• Examples: savoring a great meal, watching a beautiful sunset, enjoying a relaxing spa day, laughing with friends. I like to think of this as ice cream happiness.

• Key Question: How often are you experiencing joy, comfort, or relaxation?

Ways to increase: proactively schedule small pleasures throughout your week; use a gratitude journal to notice and amplify positive experiences; plan micro-adventures or treat-yourself rituals.

2: Eudaimonic Happiness // Living with Purpose and Virtue

Coined from Aristotle’s “eudaimonia,” this form of happiness is about meaning, self-realization, and living according to your values. It’s the deep satisfaction that comes from using your strengths and growing as a person, even when it’s uncomfortable.

• Examples: volunteering, mentoring, building a business aligned with your values, parenting intentionally, training for a long-term goal that requires delayed gratification like a marathon.

• Key Question: How much of your time is spent on activities that express your deeper values or help you grow? Where do you feel, “aligned”?

Ways to increase: clarify your values and signature strengths; commit to meaningful projects; build routines of reflection (journaling, meditation, coaching) to connect daily actions with your bigger purpose.

3: Psychological Richness // A Well-Lived, Interesting Life

This is a newer research area (Oishi & Westgate, 2021). Psychological richness emphasizes having a life full of diverse, interesting, perspective-changing experiences, even if they’re not always pleasurable or purposeful. People with psychologically rich lives have stories to tell.

• Examples: traveling somewhere unfamiliar, learning a new language or skill, having deep conversations with people outside your usual circle, trying a new sport or art form.

• Key Question: How often do you encounter novelty and complexity that changes how you see the world?

Ways to increase: plan experiences that stretch you; say yes to invitations that make you a little nervous; cultivate curiosity about other people’s perspectives; rotate hobbies or environments regularly.

Your “Happiness Audit”

Think of your life as a happiness portfolio, like an investment portfolio with three different asset classes. You may be high in one type but low in another.

Take a moment to rate yourself from 1 (very low) to 10 (very high) for each:

• Hedonic Happiness: ___/10

• Eudaimonic Happiness: ___/10

• Psychological Richness: ___/10

Now ask:

• Which “asset class” is overweight?

• Which is underrepresented?

• What small actions can you take this month to rebalance?

Just like you’d diversify investments, diversify your happiness portfolio. High hedonic scores but low eudaimonic can feel fun but shallow. High eudaimonic but low hedonic can feel worthy but joyless. High richness but low hedonic and eudaimonic can feel exciting but unstable. The sweet spot is a healthy blend.

Research on psychological richness is still emerging, but here are some starting points.

• Oishi, S. & Westgate, E.C. (2021). A psychologically rich life: Beyond happiness and meaning. Psychological Review, 128(4), 652–667.

• Oishi, S., Kushlev, K., & Schimmack, U. (2018). Progress in hedonic and eudaimonic well-being research.

• Ryan, R. M., & Deci, E. L. (2001). On happiness and human potentials: A review of research on hedonic and eudaimonic well-being. Annual Review of Psychology, 52, 141-166.

Happiness isn’t one-dimensional. Like a good portfolio, it thrives on diversity.

Do a regular audit, rebalance your activities, and watch your overall well-being grow more robust.

If you would like 1:1 coaching support or have any questions please feel free to reach out

With heart,

Mike Aidala