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Powerball jackpot: Would millions really make you happy?

2:02 PM, Nov 29, 2012   |    comments
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ST. PAUL, Minn. - Chances are you are not holding one of two winning Powerball tickets for the nearly $580 million dollar record jackpot.

But would winning all that money have made you happy?

A Princeton University study conducted a few years ago by Daniel Kahneman and Angus Deaton showed that a person's happiness tipping point was at around $75,000 a year.

Simply stated, money calms the waters, but doesn't row the boat.

"It helps us to avoid some of the anxiety of life and so on but happiness isn't something you can buy like the old saying goes," St. Thomas University Professor Dr. Robert Kennedy said in agreement with the study's findings.

The study polled 450,000 people and it found that magic income of $75,000 was where needs were met, and roads to happiness had to then be found in other areas of life such as personal relationships.

"I think we all realize those are just temporary satisfactions and that the things that are more deeply satisfying are not the things you buy at a mall get with a check," Dr. Kennedy said.

 

Gannett/KARE

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