I always found it interesting that in German "Glück" can mean luck or happiness.

When I think of luck, it is a nebulous mix of chance -- like being at the right place at the right time. That's "luck" for me, and I can't control it.

Happiness is something we can influence, especially if one lives and acts according to the old adage you suggested we follow: "Jeder ist seines Glückes Schmied!"

How would one translate the famous blues lyric, "If it wasn't for bad luck, I wouldn't have no luck at all."