CT is the third most costly state in the nation for families
- Guy
- Jul 3
- 1 min read
According to SmartAsset, a family of four now needs a salary of $290,368 per year to live comfortably in Connecticut. Comfort is defined as the 50/30/20 budget rule. This means allocating 50% of your income to necessities, 30% to discretionary spending and 20% to long-term goals like retirement or paying off debt.
Connecticut is the third most costly state in the U.S. for a family of four to be comfortable. Massachusetts is the highest at $313,747, then Hawaii where $294,432 is needed. The number for New Jersey is $282,713 and for New York it is $276,973. California ranks fourth with $287,456 needed.
Between the Lines: Why is so much income needed to live comfortably in these states? They are big spending blue states where taxes and utility costs are high.