A psychiatrist has identified the key components of happiness, which include spark, stability, and significance. Spark refers to the small pleasures in daily life, such as enjoying a cup of coffee or a beautiful sunset. Stability and significance are also crucial, as they provide a sense of peace and purpose.

Without these components, the daily spark may not be enough to bring lasting happiness. Further details on achieving happiness are available from the source, including an interview with the psychiatrist on the TODAY show and her book "Practical Optimism".