Is happiness our ultimate objective of life?

No, as I mentioned in Can We Be Happy All The Time?

Life is like a roller coaster. We all experience ups and downs, highs and lows at different moments. It’s natural as happiness and unhappiness are the two ingredients in our lives. 

Understanding that in mind, we wouldn’t and shouldn’t be overjoyed when happiness comes, neither would and should we be overwhelmed when unhappiness comes. We know that both of them are just temporary status and will be gone soon, that they are interdependent and one comes while the other goes.

Thus, we become carmful as they come and go, and we handle them with easiness and gentleness. We reach the state of peaceful and stable mind, which is exactly the ultimate objective of our life.