Are limits always better than limitless? Do constraints help us live "better" lives or prevent us from doing so? Why?

There are so many possibilities for us that no way can we ever realize them all so best to stick with a few and learn how to live and deal with them successfully which I think is a big part of being happy.  BUT - where do those limits come from?  If we impose them on ourselves it is our choice.  But if they are imposed upon us from without we may resent them simply for that reason.  Although we could still learn to live happily within them.