The Best Places in America to Build Wealth (By Age)

The Money Guy Show would not be successful without our move to Nashville, TN. It has provided us with business and financial opportunities, a great quality of life, educational opportunities for our families, and access to a host of creative people who have made the show what it is today.

There are a myriad of good reasons we end up living where we do, but have you ever stopped to consider how a certain U.S. state or city can completely change your financial trajectory? In this episode, we’re going to lay out some actionable data points and jump-start your research. Let’s spark some curiosity about the financial pros and cons of your state, at your stage of life!

In this episode, you’ll learn:

• What states allow your dollar to go the furthest
• How to assess job opportunities and quality of life in a new area
• How educational opportunities vary from state to state
• What states provide the best tax breaks and wealth-building opportunities
• What factors to consider when choosing a retirement location

Research and resources from this episode:

• 20s
  • Cost of Living Calculator (Bankrate)
  • US State Income Tax Calculator
  • The Average Cost of Living by State, and Why Ignoring it Could Sink Your Business (Patriot)
  • The 10 Best States to Find a Job (US News)
  • Here’s how much a US dollar is worth in every state. (USA Today)
  • List of U.S. states and territories by median wage and mean wage (Wikipedia)
• 30s
  • GreatSchools.org
  • US State Income Tax Calculator
  • Property Tax Information (Kiplinger)
  • Apartments.com and Zillow
• 40s
  • List of U.S. states and territories by GDP per capita (Wikipedia)
  • Number of U.S. companies listed in the Fortune 500 ranking in 2020, by state (Statista)
• 50s
  • U.S. Cities with the Most Colleges (Plexxus)
  • Taxes in Retirement: How All 50 States Tax Retirees (Kiplinger)

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