How much money is needed to be ‘happy’ in Oregon?
PORTLAND, Ore. (KOIN) — They say money can’t buy happiness, but a new report calculated the minimum salary you need to be happy in every state in the U.S., including Oregon.
GOBankingRates used a recent Purdue study published in the journal Nature Human Behaviour that concluded income can correlate with emotional well-being and life satisfaction.
The financial website said the study’s authors in the journal found that satisfaction occurs at $95,000 for life evaluation and $60,000 to $75,000 for emotional well-being globally.
“However, the study also found that the ideal income for life satisfaction in North America is $105,000, as reported by Inc.,” said GOBankingRates on its website.
To estimate how much money you might need to be satisfied or happy in every U.S. 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 the least to the most amount of money needed to be happy, the financial website said. It also included unemployment and crime rates for many states for informational purposes.
Oregon was ranked at No. 5 in the most amount of money needed to be happy, with a minimum salary listed at $138,495.
“The cost of living is more than a full third higher than the national average. So, while the unemployment rate is down to 5.2% being out of work, there is likely a much more difficult proposition than in other parts of the country,” the report stated.
For the full list, visit here.