The Therapeutic Power of Moderate Lottery Winnings

Whenever anyone says that money can’t buy happiness, I immediately assume they secretly gamble and hypocritically buy up stacks of lottery tickets, hoping for that big score. They regularly use lingo like “quick pick” and “trifecta wheel.”

It turns out that (gasp!) money does indeed buy happiness. But not too much money. New research, to be published in the Journal of Health Economics, suggests that there is a sweet spot: “Medium-sized lottery wins ranging from about $2,000 to $225,000 had a long-term sustained impact in the overall happiness of the winners.”

That’s a rather wide range to consider “medium.” I guess my credit card bill qualifies as Chase’s moderate windfall.

But getting the ginormous checks apparently don’t boost happiness. Nonetheless, I wouldn’t mind giving it a spin.

How big a lottery prize returns happiness? [UPI]