Want to lead an 'ideal life'? Study finds you don't need to be a billionaire

A study has found that "insatiable wants" differs from person to person with "want" being a psychological construct.The study asked people how much money they would want to lead an "ideal life" that would also satisfy all their wants.

The research drew up an "absolutely ideal life" lottery measure with participants asked to imagine their "ideal life" and just how much money they would want in their life.

In a startling discovery, the study found in 86 per cent of countries the majority of people thought they could achieve their absolutely "ideal lives" with $10 million or less with $1 million or less in some countries.

However, the research found 8 to 39 per cent of people across countries wanted as much money as they could get indicating "unlimited wants".

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The study asked Americans how much amount was needed for an ideal lottery prize, 46 per cent of Americans said they were ok with $10 million or less.

In the UK, 26 per cent of people were satisfied with $1 million with most saying that $10 million or less would be alright while thirteen per cent said they would like $100 billion.

In India, Argentina and Russia, 50 per cent of people said they were fine with $1 million or less.

The research was conducted among 33 countries spanning six continents and 42 communities and was published in Nature Sustainability.

The research concluded that the assumption of "unlimited wants" was not universal and that it "actually applies only to a minority of people".

(With inputs from Agencies)

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