This California nurse made over $100K last year — but says 'having a decent job doesn't get you anywhere.' Now she's living with her dad, in what is becoming a common arrangement in America
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If you made a $100,000 annual salary, you’d probably be pretty happy, right? Well, that might not be the case if you’re living in California.
A registered nurse named Winter posted a TikTok video in which she expressed her frustration with how little her $100,000+ income gets her in the Golden State. In fact, she’s found it so difficult to afford her bills right now that she is moving back in with her dad.
“Having a decent job doesn’t get you anywhere,” she lamented.
But is that true — or does she just need to get out of California?
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The blue state migration
Winter isn’t the only person frustrated with California living. There’s been a huge migration out of blue states like California and New York, and toward red states like Florida and Texas.
Personal finance celebrity Grant Cardone said that this is because blue states’ tax rates are too high — particularly for those making good money.
Winter herself complained about the taxes in her video. Her more than $100,000/year income means she needs to pay 9.3% in taxes, according to the 2023 State of California Franchise Tax Board.
Millionaires are required to pay even more money to the state. Those who earn more than $1.3 million need to pay 12.3% in taxes.
Regardless of the typical expenses of the place you live, it is possible to seek out the best possible deals on essential costs like insurance and save money to counteract high taxes. For instance, BestMoney.com — an online database of car insurance options near you — can help find you the best possible rates. You'll often get the same, or even better, insurance for less than what you’re paying right now.
Similarly, OfficialHomeInsurance lets you compare the best home insurance rates in your area. All you need to do is answer a few basic questions and they’ll instantly sort through leading insurers in your area to find you the best deals. available.
Because Texas and Florida do not charge state income taxes, many people are attracted to moving there. With the rising cost of living, saving money on taxes is tempting many people to consider uprooting to another state.
With more people priced out of the housing market, they can still take advantage of real estate as an investment with Arrived. With Arrived, you can browse a curated selection of homes, each vetted for their appreciation and income potential.
Once you find a property you like, you can choose the number of shares you want to buy. With Arrived, you can start investing in real estate with just $100.
Read more: Jeff Bezos and Oprah Winfrey invest in this asset to keep their wealth safe — you may want to do the same in 2024
California housing is unaffordable
Taxes aside, Winter also complained that she can’t afford housing.
Lots of young people feel this way. They’re looking to the South and the Midwest for homes, which are significantly more affordable than the ones in California.
For many, the prospect of moving back in with your parents or ditching your dream city because of its cost can be pretty sad. But with resources like ZoeFinancial, you can create a money management plan with the help of a qualified financial advisor. Zoe’s highly-vetted network of financial professionals can help guide you on how to grow your nest egg and even help determine your living expenses during retirement.
Just answer a few questions about yourself and Zoe Financial will match you with a curated list of financial professionals. Then, you can book a free, no-obligation consultation to see if they’re the right fit.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
