Who needs inflation if you live in one of the following cities…

A new study by SmartAsset reveals that in several U.S. cities earning as much as $300,000 per year only feels like $100,000 due to the cost of living.

The study adjusted $100,000 for the local cost of living in 76 of the largest cities in the U.S. using data from the Council for Community and Economic Research.

The index took into account the price of housing, groceries, utilities, transportation, and other necessary purchases using recent data.

The study found that three major U.S. cities required take home pay of over $300,000 to be able to spend like you earn $100,000 per year.

Residents of Honolulu, New York City and San Francisco who earn this amount are taxed roughly 40.5% or higher and have a cost of living more than 82% above the national average.

Do you see a pattern here in this top 15 list?

Material prepared by Sherman Portfolios, LLC.

Copyright © 2024
Legacy Wealth Management