Kahneman illustrates the essence of memories and past experiences in one’s way of life in general terms. He recounts that his efforts on understanding the two selves focused on finding the validity of the notion that life is sufficient to determine one’s well-being. He adopts an illustration which finds s significant level of an assumption that past encounters influence their state of mind. Kahneman refers to this occurrence as experienced well-being. He incorporates Gallup’s data in determining the measure of one ’s well-being. This chapter encompasses several comparisons of the factors influencing the welfare of a person. Kahneman uses education as a critical determinant of happiness and compares it with people’s experiences.