Can money really buy happiness? In the Garden State, the answer might surprise you.

NJ residents explain how much money it would take to make them happy and comfortable. (Digital Vision./ThinkStock)

A new analysis by the investment group Advisor Perspectives suggests New Jersey residents need to earn more than $90,000 a year to derive pleasure from day-to-day experiences, because the cost of living is quite high in the Garden State.

Some shoppers in Mercer County  agree you do need to earn a substantial salary to be happy.

"In this state taxes are so high you've got to have that kind of money to support a lifestyle," said George from Trenton.

Virginia from Ewing agreed, but said it's different for everyone.

'I think $90,000 and up, long term, you'll be happy as hell if you make anything over $90,000," she said. "you have to stop and say what makes each person happy- what would make me happy would be for me to make $90,000 a year."

Another shopped said "I don't think $90,000 is even good enough nowadays. New Jersey is getting so high with everything, it's like you've got to move to another state just to make a living now."

A woman standing nearby chimed in "I would say at least $90,000. You have to be able to pay bills if emergencies come up, maintenance of cars, houses, everything, you do need $90,000."

However, many shoppers don't buy into the theory that money can buy happiness.

"I think as far as happiness, I think it's more of a spiritual issue than perhaps anything else," one man said. "$90,000 might be necessary for some people but it might not be necessary for somebody else."

Another shopper said "happiness is not in the amount of money you earn it's in the kind of lifestyle you create for yourself."

According to Harold from Trenton, "I think happiness is very much within the person, and how they look at life, not very much related to money, but of course a little extra money does help."

Georgia from Hopewell thinks happiness is more a state of mind.

"I don't think happiness equates with dollars, I think happiness is a state of mind that you create with whatever you have at your availability at the time. $90,000 per person, I would have a hard time spending it to tell you the truth, you don't need all that, you need to have a quality of life."