Happiness Comes with Pounds 1m Price Tag; SURVEY: Research Shows a Big Win or Inheritance Can Improve Outlook on Life
Byline: NICKY BURRIDGE
THE old adage that money cannot buy happiness is wrong - but you need a windfall of at least pounds 1m to be euphoric, according to research published yesterday.
A study by the University of Warwick found that receiving an inheritance or win of as little as pounds 1,000 can improve people's outlook on life, though less than pounds 1m is unlikely to have a lasting effect on their happiness.
The research found a strong marriage and good health were more likely to make people feel content than money.
Professor Andrew Oswald and Dr Jonathan Gardner based their research on the responses of 9,000 families in Britain throughout the 1990s.
They measured individuals' psychological health using standard strain indicators to gauge their levels of happiness.
During the decade a number of the people had windfalls of hundreds of thousands of pounds, enabling the researchers to observe the impact.
Professor Oswald said, "There is a strong link between money and happiness, but it is a serious mistake to believe that the main influence on happiness is money. …