August 13, 2017
Relocating for Work

Financial Pros and Cons of Relocating for Work

Thinking of moving? Perhaps you just interviewed for a job with a new company. Or maybe your current employer set the wheels in motion telling you to relocate. Whatever your situation, before you pack your bags and head to a new city there are a few financial decisions you may want to consider before relocating for work. 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 down the field, they needed an actual cost of living comparison. So we took a couple of different towns into consideration before they loaded those boxes into a moving van. Here’s an example of what we did to make their decision more informed. Let’s say this client is a general dentist. So here is what we know about Dr. Smiles. He 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 now knows how this move will affect his lifestyle. The calculator lets you compare your current and possible new city with other major cities in the U.S. The first point to take note of is […]