![]() Jordan Rosenfeld and Alexandria Bova contributed to the reporting of this article. Take Our Poll: How Do You File Your Taxes?.How to Build a Financial Plan From Zero.Got a Question About Money? Ask an Expert.Why Stealth Wealth Is the Best Way To Handle Your Money.You’ll need to plan on earning almost $200,000 a year to reach that state of bliss in the Aloha State, though you can settle for emotional well-being, which doesn’t seem hard to achieve here, at $111,600. The cost of living in Hawaii is just under double that of the rest of the country, making it especially costly to be happy there. Minimum salary needed to be happy: $195,300.Keep reading to find out how much it takes to be happy in your state.Īll data was collected on and is up to date as of January 25, 2023. The cost to live comfortably can vary from person to person. It’s important to keep in mind, though, that “happiness” is subjective. ![]() GOBankingRates also included unemployment rates for many states for informational purposes. state, GOBankingRates factored in each state’s cost-of-living index and used the $105,000 figure as the “benchmark.” The states were ranked from least to most amount of money needed to be happy. To estimate how much money you might need to be happy or have “emotional well-being” in every U.S. However, the study also found that the ideal income for life satisfaction in North America is $105,000, as reported by Inc. “Globally, we find that satiation occurs at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being,” said the study’s authors in the journal. I’m a Self-Made Millionaire: These Are the 6 Investments Everyone Should Make During an Economic Downturnįind Out: How To Guard Your Wealth From a Potential Banking Crisis With Gold Can money buy happiness? According to a recent Purdue study published in the journal Nature Human Behaviour, income can correlate with emotional well-being and life satisfaction, though this probably has to do with a variety of factors, such as having the money to pay for things like healthcare and schooling and more.
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