(Source: Screenshot of Q13FOX website)
According to a survey by Purdue University and GoBankingRates.com, the minimum income needed to “live well in Washington” is $117,180.
The survey claims that the figure is the amount of material happiness, while the income needed to achieve “emotional happiness” is between “$66,960-$83,700.”
“We found that, globally, income for life satisfaction was $95,000, and income for emotional well-being was $60,000 to $75,000,” the study’s authors said in the journal. The study also noted that life satisfaction In terms of degrees, the ideal income in North America is $105,000.”
The current unemployment rate in Washington state has dropped from a staggering 16.8% in April 2020 to a low of 4.2%, which is also conducive to improving people’s happiness.
“The most important thing to remember is that happiness is subjective, and the cost of living comfortably varies from person to person,” the study authors wrote.
Areas with a higher cost of living than Washington include Oregon, California, New York and Hawaii.
New York: $155,610
The states with the lowest cost of living for happiness are Mississippi, Kansas, Oklahoma, and Alabama, but as inflation-driven costs rise, At least an annual salary of $87,000 is also required to live happily.
The GoBankingRates.com website notes that the study on happiness minimum income combines income saturation levels from the Purdue University survey, cost-of-living-adjusted minimum wages, and takes into account each city’s cost of living index, unemployment, and property and violent crime rates.
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