A new study by Expensitivity has revealed that Americans need to earn $105,000 a Year to Be Happy
The study found that the income needed to be happy varies by location. In some cases, such as in Argentina, people only need to earn $8,778 a year to be happy. However, in Bermuda, people need to earn $144,000 a year to be content. This is likely due to the high cost of living.
In most U.S cities such as Philadelphia, Texas, and Seattle you have to make an average of $105,000 per year to be happy. Meanwhile, if you live in Los Angeles, the U.S entertainment center, you should be making at least $120,000 annually to achieve happiness. This makes Los Angeles the second U.S city with the highest cost of happiness, by the way.
The first place goes to New York City, also known as the second-most expensive city in the world, right after London, and one of the most diverse cities in North America. To be happy there, you need an annual salary of at least $139,138, although, with the coming inflation and renting prices over the moon, that amount is likely to rise in the next couple of months.
And maybe, it sounds like a hefty price for you, but it is also understandable as New York City has it all, from work opportunities and renowned universities to entertainment venues and businesses with pretty much anything you may need. And if we analyze this, it comes as no surprise that the higher the happiness cost, the more likely you are to enjoy it there.
For example, in South American countries like Argentina, you should make $8500 to be happy, which is really low when compared with the U.S or any other first-world country such as the UK, France, and Australia. Though, as interesting as it may sound, South Americans are also known for frequently moving out of their countries to look for better opportunities. So, this can also be interpreted as the countries with lower happiness costs are also the ones with a low index of happiness. So, is it really worth trying to find happiness in such countries?
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Cost of Happiness in Europe
In contrast, Europe, with a six-figure cost of happiness, is also a place where citizens enjoy a high quality of life. Like in the U.S, the exact amount varies from city to city. In the Swiss city of Bern citizens that make over $128,969 per year are considered to be happy. If you live in Norway, however, the amount changes to $114,147 per year.
As you can see, money does play a vital role in the lives of citizens, and the leaders of the countries with the highest cost of happiness know about this. You can’t expect citizens to be happy in a country where healthcare, shelter, food, and basic human needs aren’t available to anyone.
Residents of countries with low cost of happiness are more likely to suffer from stress and mental health conditions because of all that is needed to have a little quality of life. Hence, their decision to move overseas and start again in unknown lands.
Despite what many Americans say, the United States does have hundreds of opportunities for its citizens, and it’s much easier to be happy there than in a country that fails at providing people with basic human needs.