How Much Salary Is Needed To Be Happy in Washington State?
What Is The Minimum Salary To Be Happy In Washington State?
How much money in your salary would truly make you happy?
What Is The Average Salary In Washington State?
I remember thinking if I ever made $5000 a month a job, I'd be rich. I know now that $5000 a month is a pretty good salary but after taxes and such, you might not be as rich as you'd think.
I was once told that at the bare minimum, your salary should reflect your age. It was an interesting thought and it does work to some extent. If you are 50 years, I'd hope that someone would be at least making $50,000 a year.
I did do a little digging and here are some statistics for Washington State that might surprise you.
According to the Office of Financial Management, the average salary in 1980 (adjusted for inflation) was $40,745 with Garfield County having the lowest salary at $25,255.
In 2020, the average salary in the state of Washington is $75,550. Okanogan County has the lowest average salary at $39,302. King County has the highest average salary of $103,596.
If you are anywhere in the ballpark of those salaries, some would say you are doing pretty good but what does the average Washingtonian think their average salary should be to make themselves happy?
The number might surprise you and even I was a little surprised. A recent survey posted by gobankingrates.com breaks down all 50 states and how much money it would take the average person to be happy.
As suspected, some states' cost of living is less or greater than Washington but the survey does have a number for Washingtonians.
$105,000 was the number across the board for most people's happiness in all 50 states and Washington State residents feel that $117,180 was their number.
The good news, according to the survey, those making $68,000 to $83,000 were considered in the "emotional well-being" of happiness.
In the end, it all depends on what your needs and wants are.
My son refuses to have a credit score and lives on minimal money while I once had a co-worker that felt the appearance of wealth was his true life's calling.
$117,180 might seem like a lofty number but it's attainable if that's what you truly want.
You can check more statistics and surveys here and here.