As Groucho Marx said, “Money frees you from doing things you dislike. Since I dislike doing nearly everything, money is handy.” But as Puff Daddy also said, “Mo’ money, mo’ problems.” So which is it?
According to Princeton researchers, who asked nearly half a million Americans to evaluate their happiness and reveal their salaries, having more money does make you happier… up to a point. And that point, according to their research, was $75,000. Beyond that annual salary, more money added negligible happy points.
But $75,000 in New York City is not the same as $75,000 in Mississippi, so the number crunchers over at Business Insider adjusted the $75k happiness benchmark by the average cost of living in each state. It turns out that you need $65,850 per year to be happy in Mississippi, but $122,175 in Hawaii.
In Maryland, where the cost of living is higher than average, the happiness tipping point turns out to be $88,275. Which, it should be noted, is much more than the average salary here in Baltimore.
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