To be happy living in California, the most populous U.S. state, residents need to make a minimum annual salary of $145,635, according to a new report.
In research shared in March, GOBankingRates.com estimated how much money a person might need in every state to be happy or have “emotional well-being.”
“Globally, we find that satiation occurs at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being,” the university study’s authors said.
GOBankingRates.com noted that researchers found the ideal income for life satisfaction in North America is $105,000, as reported by Inc.
To estimate how much money one might need, 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, with unemployment rates also factored in.
The study highlighted that “happiness” is subjective and that the cost to live comfortably can vary from person to person.
California’s high cost of living contributed to its estimate, as well as a high unemployment rate. Read more…