We all know that Singapore is the land of Crazy Rich Asians.

But, have you ever wondered how much you actually need to be considered one?

Source: Knight Frank

Well according to Knight Frank’s 2021 Global Wealth Report, you’ll need to have a net wealth that exceeds US$2.9 (S$3.85) Million to be considered the wealthiest 1 per cent in Singapore.

That got me thinking.

Does having that much money buy happiness?

Here’s what the research says.

How Much Money Does The Average Person Need to Be Happy?

Although no single piece of research can answer this question definitively, this 2018 study published by Purdue University in the field of happiness research will be quite helpful.

The researchers analysed data from the Gallup World Poll survey where a representative sample of over 1.7 million individuals from 164 countries were surveyed.

In the survey, respondents were asked to think of a scale where