State of Residence Impact on Net Worth

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scha916
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State of Residence Impact on Net Worth

Post by scha916 » Sun Nov 06, 2011 8:10 pm

Does anyone know of any good research done on the impact of cost of living, salary differences, etc on net worth? Two equally qualified individuals could have vastly different salaries for the same job. Say one individual in New York makes 90k and another in the midwest makes 60K doing the same job. Who do you think is better off?
The person in New York is in a higher marginal tax bracket, but saving a proportionale (say 10%) amount of their salary is better off (9k vs. 6k). Any feedback, opinions, or reference to check out on the issue would be appreciated.

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Re: State of Residence Impact on Net Worth

Post by VictoriaF » Sun Nov 06, 2011 9:25 pm

I don't know if such research is easy to conduct, because there are too many variables and personal factors. For example, some people in NYC live in rent-controlled apartments, and the high cost of living in New York does not fully affect them. Others work in New York but commute for one to two hours from New Jersey, where the cost of living and taxes are lower.

People living in Washington, D.C., may have a greater employment security, i.e., even if they lose their jobs, other jobs are easier to come by.

People living in large cities, and specifically in small apartments, probably have fewer children or no children at all, which may affect their ultimate net worth much more than income and taxation.

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Alan S.
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Re: State of Residence Impact on Net Worth

Post by Alan S. » Sun Nov 06, 2011 9:44 pm

There is a direct connection between salaries, taxes, and living costs in most locations, ie high cost areas like NYC and silicon valley in CA have to pay high salaries to get people to live there and take those jobs. The cost of real estate in those areas also tends to follow suit.

But wealth accumulation is trickier, and that is your question. I think I recall seeing a recent report that the highest concentration of millionaires per capita is in CT, mostly due to working in NYC while living in CT. There is also a constant migration of high net worth retirees from high tax states to low tax states, ie they generate their wealth in the high cost locations, then leave that state to preserve their wealth from taxation. This pattern of migration from NY to FL has been going on for decades, and you also see it from CA to NV or other low tax states where real estate is also much less costly. This migration skews the numbers when the fortune is generated in a different locale than the current residence.

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Re: State of Residence Impact on Net Worth

Post by Hatch Batten » Sun Nov 06, 2011 10:44 pm

Here's a list of median net worth of households by state, although the original data looks to be from the 2004 census:

http://scorecard2009.cfed.org/financial ... =net_worth

I keep some other state data for research purposes and after building a quick-n-dirty model it looks like once you control for a state's median age your best bet is to be a college graduate living in a high income, high population density state.

New York has the nation's lowest measured median net worth, though. I guess that's a reminder that many who work in the city at top jobs live in neighboring states - New Jersey and Connecticut both rank high.

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Re: State of Residence Impact on Net Worth

Post by travellight » Mon Nov 07, 2011 9:56 am

I don't think salaries are commensurately higher in the high cost living locales because they are desirable places to live, generally. Those people often have a poorer standard of living. Someone in the midwest is unlikely to make 60K relative to NY at 90K. I think their salaries will be similar but the midwesterner will have a much bigger house and more disposable income.

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Re: State of Residence Impact on Net Worth

Post by DetroitRed » Mon Nov 07, 2011 11:43 am

One of the best potential research sources for this is the Survey of Consumer Finances (SCF). It has has detailed information about people's financial assets, has been conducted for several decades, and oversamples higher income people (the research source mentioned above from the Census Bureau, SIPP, oversamples poor people, which are not who you'd want to focus on for this type of question). Unfortunately, SCF only allows you to see where the person lives by region. So, you know that they live in the Northeast, but you don't know if that's rural Maine or downtown Boston. Even if you could see what cities the participants live in, the sample size is too small to be able to get meaningful data at the city level.

That prevents the kind of analysis that the original poster is hoping for.

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Re: State of Residence Impact on Net Worth

Post by porcupine » Mon Nov 07, 2011 12:17 pm

scha916 wrote:Does anyone know of any good research done on the impact of cost of living, salary differences, etc on net worth? Two equally qualified individuals could have vastly different salaries for the same job. Say one individual in New York makes 90k and another in the midwest makes 60K doing the same job. Who do you think is better off?
The person in New York is in a higher marginal tax bracket, but saving a proportionale (say 10%) amount of their salary is better off (9k vs. 6k). Any feedback, opinions, or reference to check out on the issue would be appreciated.
Strictly speaking economically, I would assume that New York guy is better off if he is able to save the same in percentage terms. Look at it this way, the NY person can complain about higher taxes etc, but at the end of the day (well, to be precise, at the end of their working career), the NY person can move to the midwest and have a much higher retirement balance. Alternatively, if the midwest person were to move to NY, he would have much less money to live the rest of his life.

That said, I don't think everyone uses money as the only reason to determine his own happiness. Else, wouldn't everyone be flocking to North Dakota right now?

- Porcupine

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Re: State of Residence Impact on Net Worth

Post by PaddyMac » Mon Nov 07, 2011 12:30 pm

I agree that this is a difficult area to study accurately, especially in the internet age and with more people "in demand" being allowed to work from home. I know of at least three people who just recently got very nice jobs with good hi-tech companies, two of them in CA. But they are working from home in other lower-cost states. With the job situation these days, people with good skills are not being asked to uproot their families - it's just not worth it if they only work there a few years and then move on.

We moved to New Mexico from CA, but our income has actually gone up while our cost of living came down. Our clients are from all over and we get most of our income from royalties, so overall our standard of living is much higher now. Just because you live in a low-cost state doesn't mean your income will be less.

scha916
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Re: State of Residence Impact on Net Worth

Post by scha916 » Tue Nov 08, 2011 8:51 pm

thanks for the feedback guys

getRichSlower
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Re: State of Residence Impact on Net Worth

Post by getRichSlower » Tue Nov 08, 2011 10:14 pm

With the exception of housing, most of your expenses in New York won't be 50% more than in the Midwest. Transportation could even be cheaper because you won't need a car. Housing of course is astronomical. If the New York guy has roommates, he probably can save more. If he wants to live alone in a 700sqft 1 bedroom a few blocks from his job, he'll probably end up going into debt.

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Re: State of Residence Impact on Net Worth

Post by saurabhec » Tue Nov 08, 2011 10:52 pm

getRichSlower wrote:With the exception of housing, most of your expenses in New York won't be 50% more than in the Midwest.
Given the huge impact of housing costs, excluding that is like saying that a terminal illness isn't really that bad except for the dying part. Also given the overwhelmingly subpar public education system in NYC, the cost of raising children is much higher in NYC given the frequent need to either pay private school tuition or relocate to a suburb with a spectacularly high property tax. I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.

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Re: State of Residence Impact on Net Worth

Post by spefactor » Tue Nov 08, 2011 11:12 pm

saurabhec wrote:I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.
I think you are comparing apples to oranges -- suburban Chicago area vs. urban New York City. There are a lot of suburban areas in the metro NYC area that have excellent public schools (New Jersey, NY Hudson Valley/Long Island, and Connecticut), with a much lower cost of living than the city. Sure, they still may be more expensive than Chicago suburbs, but they are still much cheaper relative to NYC.

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Re: State of Residence Impact on Net Worth

Post by market timer » Tue Nov 08, 2011 11:29 pm

saurabhec wrote:I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.
I'm not sure about how family expenses change the numbers, but this 2x ratio doesn't seem to work for singles. If housing and education are so expensive for your family, why don't you just rent in a good NJ school district? A family paying even $3K/month in rent in NJ (better than avg home) should be able to save $80K/year pretty easily on $250K income, something the middle class has no chance of doing.
Last edited by market timer on Tue Nov 08, 2011 11:44 pm, edited 2 times in total.

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Re: State of Residence Impact on Net Worth

Post by RenoJay » Tue Nov 08, 2011 11:37 pm

There are actually plenty of calculators that compare cost of living in different states like this one:

http://www.bestplaces.net/col/

My own situation is that I moved to low-cost Nevada 7 years ago and saved about $600k on taxes compared with my former residence of California, but my home in Nevada has dropped in value about $400k, so it's not quite the no-brainer I expected. If I were advising someone, I'd suggest they live in a place that makes them happy and that they can afford and ignore the rest.

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Re: State of Residence Impact on Net Worth

Post by TheEternalVortex » Wed Nov 09, 2011 1:36 am

RenoJay wrote:If I were advising someone, I'd suggest they live in a place that makes them happy and that they can afford and ignore the rest.
Yep. The market for "locations" is pretty efficient in the US. The more expensive places are more expensive for a reason. Of course that does mean that if you are atypical you can win, e.g. if you love "four seasons" weather you shouldn't live in CA.

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Re: State of Residence Impact on Net Worth

Post by getRichSlower » Wed Nov 09, 2011 5:51 pm

saurabhec wrote:
getRichSlower wrote:With the exception of housing, most of your expenses in New York won't be 50% more than in the Midwest.
Given the huge impact of housing costs, excluding that is like saying that a terminal illness isn't really that bad except for the dying part. Also given the overwhelmingly subpar public education system in NYC, the cost of raising children is much higher in NYC given the frequent need to either pay private school tuition or relocate to a suburb with a spectacularly high property tax. I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.
I was imagining the situation of someone young, without kids, and probably single. If you have a family of four, the analysis is more complicated. In another thread, you were contemplating sending your kids to the Manhattan prep schools, which is almost the definition of rich.

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Re: State of Residence Impact on Net Worth

Post by oxothuk » Thu Nov 10, 2011 8:46 pm

The variation in housing costs also skews consumption choices.

My son-in-law - who graduated from Carnegie Mellon before going to work for Apple - observed that "in Pittsbugh most people live in big houses and drive ordinary cars, while in the Bay Area no one lives in a big house but you see lots of flashy cars"

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Re: State of Residence Impact on Net Worth

Post by saurabhec » Fri Nov 11, 2011 1:21 am

market timer wrote:this 2x ratio doesn't seem to work for singles. If housing and education are so expensive for your family, why don't you just rent in a good NJ school district? A family paying even $3K/month in rent in NJ (better than avg home) should be able to save $80K/year pretty easily on $250K income, something the middle class has no chance of doing.
Look for singles the equation is so different that you might as well be living on a different planet. There are only two NJ school districts that I consider acceptable according to my standards. One is Short Hills, another is Princeton. Princeton is too far for me to commute, so that only leaves Short Hills. A modest single family home in Short Hills is $900K-$1Million.

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Re: State of Residence Impact on Net Worth

Post by saurabhec » Fri Nov 11, 2011 1:28 am

getRichSlower wrote:I was imagining the situation of someone young, without kids, and probably single. If you have a family of four, the analysis is more complicated. In another thread, you were contemplating sending your kids to the Manhattan prep schools, which is almost the definition of rich.
That is not exactly accurate. My father-in-law and mother-in-law have very little savings outside of their social security benefit, but part of that is because they paid to send their daughters to a academically selective Boarding school and then to Wellseley. They valued education above their retirement and while their bet paid off in terms of having the satisfaction of ensuring a top notch education for their children, their retirement definitely suffered.

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Re: State of Residence Impact on Net Worth

Post by saurabhec » Fri Nov 11, 2011 1:35 am

market timer wrote: I'm not sure about how family expenses change the numbers, but this 2x ratio doesn't seem to work for singles. If housing and education are so expensive for your family, why don't you just rent in a good NJ school district? A family paying even $3K/month in rent in NJ (better than avg home) should be able to save $80K/year pretty easily on $250K income, something the middle class has no chance of doing.

There aren't that many "good" NJ school districts, at least according to my definition. I pay $3K per month already for a Jersey City waterfront location that is completley unaceptable for a public school district. Buying a home in an acceptable NJ schol district is going to be $5K-$6K per month.

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Re: State of Residence Impact on Net Worth

Post by saurabhec » Fri Nov 11, 2011 1:39 am

spefactor wrote:
saurabhec wrote:I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.
I think you are comparing apples to oranges -- suburban Chicago area vs. urban New York City. There are a lot of suburban areas in the metro NYC area that have excellent public schools (New Jersey, NY Hudson Valley/Long Island, and Connecticut), with a much lower cost of living than the city. Sure, they still may be more expensive than Chicago suburbs, but they are still much cheaper relative to NYC.
Sorry, but except for some Westchester and NJ school districts, nothing is really that great in the NYC area. Naperville, Palataine,and Hoffman Estates are reasonably affordable middle class s chool districts that are high quality in the Chicagoland area.

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Re: State of Residence Impact on Net Worth

Post by market timer » Fri Nov 11, 2011 6:23 am

saurabhec wrote:
market timer wrote:this 2x ratio doesn't seem to work for singles. If housing and education are so expensive for your family, why don't you just rent in a good NJ school district? A family paying even $3K/month in rent in NJ (better than avg home) should be able to save $80K/year pretty easily on $250K income, something the middle class has no chance of doing.
Look for singles the equation is so different that you might as well be living on a different planet. There are only two NJ school districts that I consider acceptable according to my standards. One is Short Hills, another is Princeton. Princeton is too far for me to commute, so that only leaves Short Hills. A modest single family home in Short Hills is $900K-$1Million.
So when you wrote "comfortably middle class" above you really meant "comfortably fit into a zip code with a median salary of $330K" (in 2004).

http://www.city-data.com/zips/07078.html

Also, you've noted you work in finance. I've seen people making well over $500K laid off and struggle to find anything above $200K. Finance is a shrinking industry. I would not want to make any commitments, or create expectations in my family, that required income above, say, $100K. The job security just isn't there. Sure, once you've saved a couple million, or if you are married to a physician, Short Hills may be affordable. But it doesn't sound like you're there.

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Re: State of Residence Impact on Net Worth

Post by getRichSlower » Fri Nov 11, 2011 8:17 am

saurabhec wrote:
getRichSlower wrote:I was imagining the situation of someone young, without kids, and probably single. If you have a family of four, the analysis is more complicated. In another thread, you were contemplating sending your kids to the Manhattan prep schools, which is almost the definition of rich.
That is not exactly accurate. My father-in-law and mother-in-law have very little savings outside of their social security benefit, but part of that is because they paid to send their daughters to a academically selective Boarding school and then to Wellseley. They valued education above their retirement and while their bet paid off in terms of having the satisfaction of ensuring a top notch education for their children, their retirement definitely suffered.
So you're expecting me to believe that you plan on retiring with a net worth(including your house) of under $200k(today's dollars)? What do you expect your net worth(today's dollars), including your house, to be at retirement?

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Re: State of Residence Impact on Net Worth

Post by HomerJ » Fri Nov 11, 2011 9:55 am

market timer wrote:I've seen people making well over $500K laid off and struggle to find anything above $200K. Finance is a shrinking industry. I would not want to make any commitments, or create expectations in my family, that required income above, say, $100K. The job security just isn't there.
That is the trick...

My wife and I were making $150k combined 5 years ago... We've crept up to about $250k combined.... but we kept living at the lower (but extremely nice) lifestyle... Being able to save a bunch of money was nice, but the real benefit is that we didn't raise expectations or make any commitments at that higher income level.

My wife is going to be laid off early next year.

And it will barely affect us. Because we were conservative and smart about our money.

(The only bad part is there's not much pressure for her to find another job, so she's thinking about taking a year or two off - which may just turn into early retirement... for her) :shock:

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Re: State of Residence Impact on Net Worth

Post by strcmp » Fri Nov 11, 2011 10:03 am

saurabhec wrote:
spefactor wrote:
saurabhec wrote:I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.
I think you are comparing apples to oranges -- suburban Chicago area vs. urban New York City. There are a lot of suburban areas in the metro NYC area that have excellent public schools (New Jersey, NY Hudson Valley/Long Island, and Connecticut), with a much lower cost of living than the city. Sure, they still may be more expensive than Chicago suburbs, but they are still much cheaper relative to NYC.
Sorry, but except for some Westchester and NJ school districts, nothing is really that great in the NYC area. Naperville, Palataine,and Hoffman Estates are reasonably affordable middle class s chool districts that are high quality in the Chicagoland area.
I disagree.. :) There are plenty of good public schools in the NJ bergen county area. I don't know enough about Hudson county, but I suspect there may not be as many good schools in Hudson County. Bergen has plenty and it is right next to NYC. Some good schools that come to mind are: Tenafly, Ridgewood
Also if you live in Bergen County, students can apply to get into Bergen County Academies public magnet school..
(According to 2011 Newsweek statistics Bergen County Academies students registered an average SAT score of 2100, the second highest of any U.S. high school in the country)
Their math team is ridiculous as well. One of the top in the country.

Back to the topic.
The best way to increase net worth IMO: Work in a high income area (like NYC metro area) and live in a cheap rent place, which is very easy to do in the NYC metro area. JC, Ft Lee, etc.

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Re: State of Residence Impact on Net Worth

Post by market timer » Fri Nov 11, 2011 10:15 am

strcmp wrote:Back to the topic.
The best way to increase net worth IMO: Work in a high income area (like NYC metro area) and live in a cheap rent place, which is very easy to do in the NYC metro area. JC, Ft Lee, etc.
+1
I'll save 50% of gross income the next couple years if all goes well. That means a million bucks in the bank in 6 years out of school and the option of early retirement (or more likely, entrepreneurship) just about anywhere in the world.

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Re: State of Residence Impact on Net Worth

Post by Rich Cape Cod » Fri Nov 11, 2011 10:55 am

I believe it was Bloomberg that did an annual survey of the tax impact of living in every state by breaking down costs using three fictional families they created. The income streams varied from working income to only investment incomes. The differences between the states were significant. From memory I recall as great a difference as $40,000 dollars per year from one state to another. Indeed, a person could move over a state line and save (or spend) many thousands of dollars.

I don’t know if Bloomberg still offers this data, but recall that you had to be a paying member of their site in order to be able to access it.

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Re: State of Residence Impact on Net Worth

Post by renditt » Fri Nov 11, 2011 1:02 pm

saurabhec wrote:
getRichSlower wrote:With the exception of housing, most of your expenses in New York won't be 50% more than in the Midwest.
Given the huge impact of housing costs, excluding that is like saying that a terminal illness isn't really that bad except for the dying part. Also given the overwhelmingly subpar public education system in NYC, the cost of raising children is much higher in NYC given the frequent need to either pay private school tuition or relocate to a suburb with a spectacularly high property tax. I used to live in a Chicago suburb, I would say that for a family of 4, the income of someone living and working in NYC needs to be at least 2x that of someone working in the Chicago area to ensure the same quality of life with respect to housing and education. Despite the claim by many politicians that a family making $250K is rich, in the NYC area I consider that to be the bare minimum to be comfortably middle class, while the same family making $125K could be quite comfortably middle class in the Chicago area and have access to much better public schools.
Agree with this comment.

We were looking for a rental in Westchester a few years ago, and even though we were willing to spend an amount of money which most people outside NY would consider outrageous, we had a hard time finding anything and what we found was fairly old and dated.

Moved to NC and renting now for 30% less and the house is 2x as nice.

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Re: State of Residence Impact on Net Worth

Post by VictoriaF » Fri Nov 11, 2011 1:55 pm

renditt wrote:We were looking for a rental in Westchester a few years ago, and even though we were willing to spend an amount of money which most people outside NY would consider outrageous, we had a hard time finding anything and what we found was fairly old and dated.

Moved to NC and renting now for 30% less and the house is 2x as nice.
When people unfavorably compare living in New York City to living in other parts of the U.S., they don't realize that New Yorkers treat the City as their living room and dining room. Manhattan residents may sleep in small apartments, but they eat, play and entertain on a much grander scale than others can do even in multi-thousand-square-feet houses. The same may not be true for the Westchester County, which is largely suburban and serves as a (large) bedroom for those working in Manhattan.

In metropolises the frame of reference is different from the rest of America. For example, in Ohio distances are measured in miles; in New York City and Washington D.C. they are measured by the number of blocks to the nearest Metro station. (Likewise, Americans who don't live in large cities don't realize that they can visit European capitals without renting a car.)

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Re: State of Residence Impact on Net Worth

Post by porcupine » Fri Nov 11, 2011 2:07 pm

saurabhec wrote:
market timer wrote:this 2x ratio doesn't seem to work for singles. If housing and education are so expensive for your family, why don't you just rent in a good NJ school district? A family paying even $3K/month in rent in NJ (better than avg home) should be able to save $80K/year pretty easily on $250K income, something the middle class has no chance of doing.
Look for singles the equation is so different that you might as well be living on a different planet. There are only two NJ school districts that I consider acceptable according to my standards. One is Short Hills, another is Princeton. Princeton is too far for me to commute, so that only leaves Short Hills. A modest single family home in Short Hills is $900K-$1Million.
If you can find just two school districts OK in the entire state of NJ, I am just curious how your standards of schooling translate to the rest of the country (Chicago excepted).

Also, based on my previous response in this thread, why did you not move back to Chicago if it is such a hassle to live in the NYC/NJ area? At least for you - based on your responses in this thread (again) - my hypothetical situation of moving to North Dakota does not apply ...

- Porcupine

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Re: State of Residence Impact on Net Worth

Post by saurabhec » Fri Nov 11, 2011 9:13 pm

porcupine wrote: Also, based on my previous response in this thread, why did you not move back to Chicago if it is such a hassle to live in the NYC/NJ area? At least for you - based on your responses in this thread (again) - my hypothetical situation of moving to North Dakota does not apply ...

- Porcupine
I am not sure where I said I hate living here, so you shouldn't assume that. That doesn't mean I will ignore objective facts about taxation and quality of public schools. I would love to return to Chicago, but my spouse has family ties here and is not too keen to move away.

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Re: State of Residence Impact on Net Worth

Post by pete82 » Fri Nov 11, 2011 9:31 pm

anecdotal evidence shows I made out very well when I moved from NYC to Austin, TX. income taxes and hi rents can crush you. it's a lifestyle decision.
"What everybody else knows is not worth knowing." - Gerald M. Loeb

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Re: State of Residence Impact on Net Worth

Post by getRichSlower » Fri Nov 11, 2011 10:25 pm

saurabhec wrote:
porcupine wrote: Also, based on my previous response in this thread, why did you not move back to Chicago if it is such a hassle to live in the NYC/NJ area? At least for you - based on your responses in this thread (again) - my hypothetical situation of moving to North Dakota does not apply ...

- Porcupine
I am not sure where I said I hate living here, so you shouldn't assume that. That doesn't mean I will ignore objective facts about taxation and quality of public schools. I would love to return to Chicago, but my spouse has family ties here and is not too keen to move away.
Show us these objective facts about the quality of public schools in Chicago. What percentage of students get admitted to HYPMS at the best public high school in Chicago? Then compare that to the percentage of students from Chapin, Trinity, and Dalton in NYC. I doubt Chicago is anywhere close.

saurabhec
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Re: State of Residence Impact on Net Worth

Post by saurabhec » Sat Nov 12, 2011 5:47 pm

getRichSlower wrote:
saurabhec wrote:
porcupine wrote: Also, based on my previous response in this thread, why did you not move back to Chicago if it is such a hassle to live in the NYC/NJ area? At least for you - based on your responses in this thread (again) - my hypothetical situation of moving to North Dakota does not apply ...

- Porcupine
I am not sure where I said I hate living here, so you shouldn't assume that. That doesn't mean I will ignore objective facts about taxation and quality of public schools. I would love to return to Chicago, but my spouse has family ties here and is not too keen to move away.
Show us these objective facts about the quality of public schools in Chicago. What percentage of students get admitted to HYPMS at the best public high school in Chicago? Then compare that to the percentage of students from Chapin, Trinity, and Dalton in NYC. I doubt Chicago is anywhere close.
You obviously don't read too closely. I was interested in those same private schools precisely because their matriculation rates into Ivies are much higher than even the best public school districts in the country. That is how the whole other thread on NYC private schools began, remember?

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