The Ten Best (and Worst) Places to Make a Living: 2017 Edition
I just read this article about the best and worst states to make a living in 2017.
To create the ranking, MoneyRates factored in elements like median salary, state tax rates, cost of living and unemployment rate. It used data from the U.S. Bureau of Labor Statistics and Tax Foundation, a nonprofit think tank, among other sources.
The top ten states to make a living in 2017 are listed below.
1. Washington
2. Minnesota
3. Illinois
4. Texas
5. Colorado
6. Wyoming
7. Virginia
8. Ohio
9. Michigan
10. Kansas
It is interesting to point out that a majority of these states are not on the Pacific or Atlantic coast.
The article also included the top ten list of worst states to make a living in 2017.
1. Hawaii
2. California
3. Montana
4. West Virginia
5. Vermont
6. Oregon
7. South Carolina
8. Maine
9. New York
10. Mississippi
Obviously cost of living is a major factor when creating this list and it seems like the best states to make a living are the flyover states.
Would you prefer to live in a place where there is a lower cost of living (ex. Kansas) or a place where there is a higher cost of living if you had the same salary(ex. $100k) in both places (ex. New York)? Where would you live is cost was not an issue?
My goal is to become the number one investment banker in Kansas
"Banker" in Kansas= bank teller.
Google "Private Equity Overland Park, Kansas", you may be very surprised
There is a fair amount of commodities trading that happens there.
Or you could go work for Koch Industries...at least you'd be able to get the same reputation
Texas should be #1, easily the best state in this union, easily the best state on planet earth or any other planet.
Texas isn't just the best state on the planet, it's the best country on the planet
A not-so-subtle call for succession?
Texas should UPEND and DISRUPT the UNITED STATES through SECESSION.
Equities in Dallas
Neocon confirmed
I'm considering to move from Eu to Texas for study (UT Austing McCombs)
McCombs is a great business school. Are there any elite business schools in the European Union that are comparable with those in the United States?
Come to Texas bro, you'll thank me later.
Hawaii may be worst, but even being a bartender in Hawaii has to be a great gig. I mean, you're in Hawaii.
Except for the fact that it is probable that the bartender would have nearly no savings. Classic example of cost of living vs. quality of life. I think if a person was homeless or a hippie then being in Hawaii would be better then being in Kansas, for example.
You can make Mainland money living in Hawaii. Maybe not Wall St DE Shaw bonus money but decent small hedge fund money. Depends on your situation. Friend of mine does trading for a small SF based hedge fund in Hawaii (wakes up really early though). Evolution Capital has a Honolulu office. Some Big Tech teams allow for remote working. Hawaii could be a place you live. Upper level exec jobs could be good. Still a pay cut from comparable positions elsewhere but you won't be suffering from poverty. In fact, you can live pretty well. If your spouse works for the airlines, free trips off island.
You get to follow all your favorite sports teams on TV and adopt the Hawaii Rainbow Warriors as your 2nd favorite college football team. What's not to love?
Agreed though that tourism based economies tend to be hard places to make a living due to capital flows and lower skilled employment. My fear is Hawaii becomes like Venice Italy (once a real city now a tourism Disneyland and second home playground).
Anyways there is a different culture there so best you adapt. If you are too type A, you won't last long.
Yeah, but have you ever been outside of the tourist areas in Hawaii? When I was in Oahu, the quality of life in the "suburban" areas seemed very questionable. Some parts were okay, but most was sketchy af.
Plus I've heard that there is still a big "divide" (if you know what I mean) between the native people and whites from the continental US.
"Have I ever been outside the tourist areas?" Yes, I know what I'm talking about. Haha. I'm the guy who's going to have "son of Hawaii" on my tombstone.
I agree with you that the quality of life in Hawaii can be good if you can afford it. Still, generally, the cost of living in Hawaii is expensive.
would be interesting make the same stats Eu related
I live work in Colorado. It doesn't suck.
I agree. My sister lives out there with her husband and loves it. I miss it myself sometimes. Lol
Yeah in Minnesota(#2) when it's -60 degrees out and frost bite only takes a couple of minutes.. BEST living
That's why we need to DISRUPT the climate ECOSYSTEM by creating GLOBAL WARMING.
It isn't that bad when you take wind out of the equation. This does allow one to buy an ice house and live on a lake during the winter. Big discount in terms of rent. You then can party with some homeless meth heads. Just make sure you don't shit in the same hole you fish from.
Today's lesson in spurious correlation: maximum state income tax rates.
State - State Income Tax Rate (Pct.) 1. Washington - 0 2. Minnesota - 9.9 3. Illinois - 3.8 4. Texas - 0 5. Colorado - 4.6 6. Wyoming - 0 7. Virginia - 5.8 8. Ohio - 5.0 9. Michigan - 4.3 10. Kansas - 4.6
Average of top rates in the ten best states to make a living is 3.8% (with MN being a massive outlier) and average of minimum rates is much lower at 2.3%.
State - State Income Tax Rate (Pct.) 1. Hawaii - 8.3 2. California - 13.3 3. Montana - 6.9 4. West Virginia - 6.5 5. Vermont - 9.0 6. Oregon - 9.9 7. South Carolina - 7.0 8. Maine - 10.2 9. New York - 8.8 10. Mississippi - 5.0
The average maximum rate of the ten worst states clocks in at 8.5%.
It's almost like in deciding where to live and work people would rather have less of the income they earn taken away from them.
Disclaimer: yes, I know there are a multitude of factors and this is only one. However, it is an important one, and breeds a virtuous cycle that bolsters the other factors (unemployment, salary, cost of living, etc.)
That 0 in front of Texas is so beautiful, I would definitely marry it.
Good analysis. Much appreciated
Come to Canada! Sorrey!
https://techcrunch.com/2017/04/20/canada-is-north-americas-up-and-comin…
washington state ftw, too bad i probably won't live there again anytime soon
Start your own country already
Washington sucks. You can't have TECH INNOVATION without STATE INCOME TAX!
Neque ipsum hic sed ut est blanditiis. Culpa eius accusantium repudiandae nihil sit adipisci quis. Quae temporibus tempore esse saepe consequuntur repellat expedita. Enim alias quae iste doloremque ut.
Architecto reprehenderit repellat excepturi sed fugiat consequuntur pariatur. Qui officia excepturi vel accusantium. Minima recusandae molestiae blanditiis.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...
Cum non in doloremque excepturi nemo. Ab quia ea dolorem. Voluptas pariatur et unde magni quidem.
Voluptatem praesentium aut et qui. Ab in quidem consequatur adipisci praesentium et. Voluptas harum molestiae dolor iste sequi suscipit. Atque nam inventore culpa ipsam.
Et amet quos assumenda deleniti nostrum error. Odio nam aut ea aliquam maxime consequuntur. Cupiditate perspiciatis fugiat neque repellendus. Eos earum harum magni nisi deserunt labore quia. Labore harum aliquid at in.