$83,000 Is The New $75,000 Happiness Benchmark For Annual Income
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A few years ago, a Princeton study suggested that $75,000 is the happiness tipping point-earning more than that, happiness may not really improve. This needs to be adjusted, however, by your area’s cost of living, so here’s the benchmark by state (and DC).
Business Insider posted these charts based on the latest cost-of-living data data from the Council for Community & Economic Research. As you can see in the graphic below, there’s quite a difference by state:
There are other variables to consider, such as the size of your household and your personal happiness needs. Also, a smaller study suggested a $50,000 salary is when we start to see significant differences in life satisfaction and well-being.
Still, the benchmark may help you appreciate your salary more-or work towards getting there, whether through negotiating your salary, moving to a better job, or actually moving.
Head to Business Insider for more on the magic $75K number and why it might still be applicable (even though the equivalent for today’s income is $83K).
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