Minimum Salary to Be ‘Happy’ in Michigan is Almost Six Figures
If you can put a price on happiness, this is what you need to make in Michigan.
According to a recent study by Purdue University, there are many correlations between the amount of money you make and one's life satisfaction. That seems pretty obvious, but what is that magic number that will help a person reach happiness in Michigan?
The study, published in Nature Human Behaviour, says that most people find satisfaction in life when their income is around $95,000. To achieve emotional well-being, most people need to make between $60,000 and $75,000 each year.
This article also states that $105,000 is the ideal income for someone to achieve life satisfaction. Is anyone else depressed yet? Apparently, I have a long way to go until I'm happy with life.
Now before we dig deeper into this, let us just remember that being "happy" is a very subjective term. What makes one person "happy" doesn't necessarily make another person happy.
GOBankingRates.com broke down what salary it takes to be happy in each state. So what does it say about Michigan? Well, when ranked from the least amount of money needed to be happy to the most amount needed, Michigan is number 15 on the list.
Apparently, folks in Michigan need to make $96,285 to be happy. Michigan's cost of living is about 8.3% lower than the rest of the nation, but also has a pretty high unemployment rate. To achieve "emotional well-being, Michiganders need to make around $54,966.
On the extreme ends of the list, people in Mississippi only need to make around $88,725 to be happy. People in Hawaii, however, need to make around $195,300 to be happy due to the extremely high cost of living.
Get a complete breakdown of all the states here.
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