Peace, Love, Luck, Happiness

My uncle (mom's younger brother) gave this pendant to me way back maybe ten years ago. I have it with me since then, I don't know what it means so I did not wear it. While I was cleaning up yesterday I came across it once again and ask him what does this Chinese character means. He said it means "Peace, Love, Luck & Happiness", I'm crossing my fingers that he is right because it's in Chinese character and when you miss a line it will mean something else.
Since I've learned about it's meaning yesterday, I have cleaned it and worn it. Chinese new year is coming up so I need to start wearing my good luck charm. He said I don't need to necessarily wear it, it can be hang by the mirror or main house door. Lets see what will happen because I want all those Peace, Love, Luck and Happiness I can get.