A study from the Marist Institute for Public Opinion has found that income is a key factor in determining quality of life and happiness.

So, no, happiness isn't free. But it might not cost as much as you think.

According to the research , a salary of $50,000 is the happiness tipping point, in which those who make more are significantly happier than those who make less.

While it's true somebody who makes $60,000 a year is happier than someone who makes $50,000, that bump in happiness is small when compared to the one that occurs a person's salary jumps from $40,000 to $50,000.

“$50,000 is the mark where you start to see significant differences,” researcher Susan McCulloch explained.

In fact, a previous study found that once a person hits $75,000, more salary no longer increases happiness. So it would seem earning between $50,000 and $75,000 a year would optimize a person's happiness.

The average salary for a full-time worker in American is about $40,000 a year, which explains a lot.

What do you think? Would you be "happy" making 50 grand a year?