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Best U.S. Cities to Build Wealth
When you’re trying to build a nest egg, or simply have more money overall, where you live is a huge factor. A recent survey by Salary.com took into consideration things like local salaries, the cost of living, and unemployment as their primary factors to determine the best cities for building wealth.
You may have already guessed this, but the worst city to build wealth in is New York City. Sorry, neighbors. Guess we're all in this together. According to the survey, New York’s economy and well-educated residents weren’t enough to save it from the excessively high prices with paychecks not “inflated” enough to keep up. Don’t worry, though. In the same circle as New York City are Washington, D.C., Los Angeles, Honolulu, and San Francisco.
Where then is the number one place in the country to build wealth? Plano, TX (one of our editors is cursing the fact that she didn't stay in Dallas—Plano is a suburb—when she had the chance.) It houses some of the nation’s largest companies that have reported very strong growth, and the prices in Texas are more reasonable than its east coast/west coast counterparts. Also in the top five were Aurora, CO, Omaha, NE, Minneapolis, MN, and Albuquerque, NM.
Knowing that where you live can determine how well you save money, would you consider moving? Why or why not? [Yahoo! Business]