Author Topic: Best and worst places to build a nest egg  (Read 2920 times)

Offline manfromnevada

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Best and worst places to build a nest egg
« on: July 27, 2010, 09:27:04 AM »
From U.S. News and World report:
http://finance.yahoo.com/focus-retirement/article/110150/the-best-and-worst-places-to-build-a-nest-egg?mod=fidelity-buildingwealth

excerpt:
The Best States

Wyoming (Score: 40): Wyoming's loose tax code helped propel it to the front of the pack. Notably, residents don't pay taxes on wages or on capital gains. Both of these exemptions allow workers to save noticeably more of their earnings--both from investments and jobs--for use in retirement. What's more, even before the tax breaks, Wyoming residents have well-above-average incomes. In 2010, the state's per capita income is $45,584. Only five states and the District of Columbia have higher incomes. Wyoming's 6.8 percent unemployment rate is also well below the national average. Meanwhile, home prices there are expected to grow by 4.5 percent annually between 2010 and 2013, according to Moody's Analytics. Since many Americans choose to sell their homes to downsize before retirement, price appreciation helps them grow the size of their next eggs.

More at link above.

Mac
All that is necessary for the triumph of evil is that good men do nothing.
<Edmund Burke>

Offline biathlon

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Re: Best and worst places to build a nest egg
« Reply #1 on: July 28, 2010, 11:52:44 AM »
Slavery as far as I'm concerned!  >:(

Offline Terence

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Re: Best and worst places to build a nest egg
« Reply #2 on: July 28, 2010, 12:19:08 PM »

Mmmm, knew about the taxes, but, not the per capita income. What's
behind that number? Rich Jackson-ites? Ranching? Mining?

Terence
Liberty is “Stolen” by your own signature. Find the adhesion contracts and deal with them.

Offline MANUMIT

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Re: Best and worst places to build a nest egg
« Reply #3 on: July 29, 2010, 05:29:25 AM »
Depends on the industry but I increased my take home income over 50% thru:
1)  Getting physically to Wyoming
2)  Staying flexible on living conditions and location
3)  Meeting and greeting local folks and sharing our story
4)  Pushing the wants out to merely cover needs while investing in my family
5)  Working odd jobs while learning what was open
6)  Positioning myself as a SOLUTION and not another monkey looking for a check

Your mileage may vary...but step 1 is key.   8)

BTW even if we weren't doing better financially, we would still be doing much better personally.

MANUMIT
"I bet you have much more in common with the average Iraqi shop keeper, than any of the politicians that represent you."--Silver Smith
"WHEN YOU DON'T LIKE THE PATH, CHANGE DIRECTION"--Me

Offline craigercj

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Re: Best and worst places to build a nest egg
« Reply #4 on: July 29, 2010, 01:41:48 PM »

Mmmm, knew about the taxes, but, not the per capita income. What's
behind that number? Rich Jackson-ites? Ranching? Mining?

Terence

Mining, Oil/Gas, and the associated support industries.