Research Shows That Money Can In Fact Buy Happiness

LOS ANGELES (CBSLA) -- There is an ideal dollar amount that can in fact make an individual happy, according to research from the University of Virginia and Purdue University.

Psychologists analyzed Gallup poll data from millions of people and found that the optimal income for a lifetime of satisfaction is $95,000 in earnings a year.

The study went on to find that while the amounts vary worldwide, $60,000 to $70,000 is the baseline for emotional well-being.

The research mentioned, however, that families with children would need more.