Study says money can buy happiness: Here’s how much you need to make in Kansas City
KANSAS CITY, Mo. — Money can’t buy you happiness. It’s an age-old quote aimed at helping people enjoy life outside of their income.
However, a 2018 study from Purdue University isn’t so sure that the quote is completely true. Researchers tried to pinpoint the exact dollar amount needed globally for an individual to stop worrying about money and to feel content about their lives in comparison to others.
GOBankingRates then took the findings, included a “life satisfaction” salary amount reported by Inc, and factored in the cost of living for the 50 biggest cities in the US.
They found that Kansas City residents need to make $96,495 annually to be happy.
The study notes that this is the finding for an individual, and families likely have a higher benchmark.
Findings also indicate Kansas Citians need $87,305 annually for “life evaluation,” a term that describes satisfaction based on personal life goals and self-comparisons to others.
Residents only need $55,140-$68,925 for emotional well-being, which describes the point when people say money stops becoming a contributing factor to their emotions, especially involving, anger, sadness and happiness.
Stress over money is among the top contributors to health issues in the US, according to a study report by MarketWatch. Related medical issues include anxiety and depression, ulcers, high blood pressure and heart problems.