is a 120 hz LG tv good enough for the ps4 ?

I am on a budget of 500 and this is what i found

http://www.amazon.com/gp/product/B00BB9ORUS/ref=ox_sc_act_title_1?ie=UTF8&psc=1&smid=ATVPDKIKX0DER

$500 seems a lot for a 40" LG. Can you wait a couple weeks for Black Friday? There will be a ton of TV sales. I would definitely go for a Samsung 40" 120hz over LG... All my TVs are samsung and my games look awesome on them.

Yea I want a samsung but I haven't been able to find one

I most often opt for Sony products. I like their image quality and their sound systems have yet to fail me. My Sony tv and my PS3 can be said to "communicate" well together as my gf notices much better picture quality when compared to her Xbox 360.

Personally, I do not like LG, but that's just me. This tv seems to do the trick: FULL HD 1080p, decent size, but I LIKE to watch the tv in action before I purchase it. My suggestion, dull as it may sound, is to go down to your local tv-distributor and look at the tvs. Check out a few different brands, spend an hour...two! at the store and look at different criterias that you have written down in advance. Write down three that you believe are the best, and check online for better pricing. This is my suggestion to you.
Remember to check the dpi.

$500 does seem a bit much for a 40'. But I am kind of cheap, bought a 39' 60hz 1080p RCA for $300 and I'm loving it.