As anyone who’s fled higher cost states can attest, your money goes farther in certain parts of the country. You’ll pay less for lots of things in some states and many rural areas. This could play a factor in where you decide to retire.
Using recent data from the U.S. Bureau of Economic Analysis, the Tax Foundation put together this map to show us exactly how much your money is worth across the country.
Within each state, of course, your mileage may vary.
People living in New York City are a world away from Utica. Chicago is not the same as Canton, Illinois. So the Tax Foundation also took a look at the data by metro area.
The most expensive cities are clustered in California. Your $100 is only worth $76.39 in San Jose-Sunnyvale-Santa Clara, and the situation isn’t much better in San-Francisco-Oakland-Hayward ($78.13) or Santa Cruz-Watsonville ($78.37).
Honolulu ($80.19) and Napa ($80.91) round out the top (bottom?) five.
The red and orange pockets are the most expensive, while you get more bang for your buck in the green and blue.
If you’re still considering where you want to wind up in retirement, the relative value of $100 is but one of many factors to consider. To figure out what you could expect in Social Security, try our calculator.
How much you’d have to make to be in the top 1%
The term “top 1%” gets thrown around a lot in the news, but who exactly makes the cut? Last year, the IRS released stats based on 2017 tax returns. Nationwide, to be in the top 1%, you now need to earn a cool $515,371.
If the top 1% isn’t exclusive enough for you, you could aim for the top .1% club. In the U.S., according to Bloomberg, that would mean earning $2,374,937.
Still not satisfied? The cutoff for the top .01% is $12,899,070, while the top .001% earned $63,430,119 in 2017.