How much money do people need to be happy? The answer to this question may be different for everyone, but recent studies in Europe and the US revealed that money can really "buy" happiness.
In the US, people born between 1981 and 1966, known as millennials, said they need an annual salary of $525,000 to feel financially happy.
Meanwhile, Gen Z Americans (born 1997 - 2010) require $128,000 per year; generation X (1935 - 1980) $130,000; and boomers (1946 - 1954) say $124,000 a year.
Europeans can settle for less. In Western Europe and Scandinavia, people considered $100,000 a year to be a turning point for appreciation and life satisfaction. In Eastern Europe, the happiness figure was much lower, at $45,000.
Having more money than that has no additional impact on how happy people are. Age is a factor, with wealthier older individuals expressing more life satisfaction than their under-35 counterparts.
The study also found that wealthy individuals in Western Europe are happier than those in the east, and involvement in sports increases happiness.
In Europe, the highest desired income for happiness is in Norway (€107,969) and Switzerland (€106,154).
Source: Purdue University
