Great Migration: Wealthy Gen X-ers Are Moving To These States

Source: https://www.zerohedge.com/news/2019-07-30/great-migration-gen-x-ers-are-moving-these-states
Published: Aug 11, 2019
Author: Tyler Durden
Post Date: 2019-08-11 02:28:23 by Horse
Views: 1446

Baby boomers, ages 55-75, have long been migrating to Southern states as they enter retirement years. Now a new study shows wealthy Generation X, ages 40-54, are doing much of the same.

SmartAsset.com, a financial technology company that operates a website that offers financial advice, published a new study reveals how wealthy Gen X-ers are moving to Southern states.

According to the study, six of the top ten states where wealthy Gen X-ers are moving to the South, with Washington as the outlier.

Northeast has become widely unpopular with wealthy Gen X-ers. Most of the outflow is coming from Northeast states, four of which are New Jersey, Massachusetts, Pennsylvania, and New York.

To determine the relocation of rich Gen X-ers, SmartAsset examined inflow and outflow data of people ages 35 to 54 with adjusted gross incomes of at least $100,000.

Poster Comment:

I'm in the top ten? No state income tax.

Post Comment   Private Reply

#1: ghostdogtxn    To: Horse (#0)

ghostdogtxn posted on 2019-08-11 10:26:55   Reply   Private Reply

#2: Lod    To: ghostdogtxn (#1)

I'd be much, much, much, better off paying 3-4% state income tax instead of the unholy property taxes in Travis county. The ISD taxes here are by far the worst.

Lod posted on 2019-08-11 11:51:57   Reply   Private Reply

#3: Lod    To: Horse (#0)

100K/year is NOT wealthy; it's more like a living wage in many parts of the country.

Lod posted on 2019-08-11 11:56:54   Reply   Private Reply

#4: Horse    To: Lod, ghostdogtxn (#2)

Property tax in New York and New Jersey is a minimum of $12,000 a year if you have kids in school. I thought that was high. But in Palo Alto someone bought a home for $2 million cash. It was 30 by 28 feet. Really, just a cabin. The property tax bill was by law set at $2,080 a month.

Horse posted on 2019-08-11 13:59:00   Reply   Private Reply

#5: Cynicom    To: Lod (#3)

100K/year is NOT wealthy;

By no means.

Moving out of NYC 60 years ago to rid myself of the human scum and lower taxes was a great idea.

The taxes have caught up and are winning. My tax bill arrived few weeks ago and made me sick, thousands of dollars, pay up or we sell you out and throw you in the street.

Cynicom posted on 2019-08-11 14:07:18   Reply   Private Reply

#6: BTP Holdings    To: Cynicom (#5)

Moving out of NYC 60 years ago to rid myself of the human scum

I am talking with a Russian girl now who lives in NYC. She has her son in a private school I guess because the public schools there are so bad. She wants to move out here to me in SW Missouri. She first thought I lived in Chicago. Nope. She does not even know who Mr. Spock is. Horrors! ;)

BTP Holdings posted on 2019-08-11 14:15:36   Reply   Private Reply

#7: NeoconsNailed    To: BTP Holdings (#6)

Please be careful, B.

NeoconsNailed posted on 2019-08-12 13:28:09   Reply   Private Reply

#8: NeoconsNailed    To: All (#7)

Rotten yankees (as opposed to good Northerners) immediately start making life more expensive down here. They're just a plague on everything, literally the whole world.

NeoconsNailed posted on 2019-08-12 13:33:39   Reply   Private Reply