August 13, 2016

Thinking of moving? – Financially Simple

Thinking of moving? Perhaps you’ve just interviewed for a job with a new company or maybe you’re current employer has set the wheels in motion by asking you to relocate. Whatever your situation, if you’re considering packing your bags and moving to a new city, there are a few things you may want to take into consideration before you load those boxes into a moving van just yet. In a recent meeting I had with a client, they were trying to decide which town would offer them the best value of lifestyle for their income. In order to narrow the field and make the right decision , a true cost of living comparison needed to be made on a couple of different towns. Here’s an example. Let’s say a general dentist, Dr. Smiles, earns $160,000 a year in Knoxville, TN. Now he wants to sell his practice and migrate south to Cape Coral, FL. Using this simple calculator, Dr. Smiles can make an informed decision on his plans. The first point to take note of is the cost of living is 12% higher overall. That means in order to maintain his current lifestyle, the good doctor would need to make an additional $19,477 a year. He can easily see […]