Portland, Maine, tops RentCafe's list of the most livable U.S. cities, balancing quality of life and community engagement despite a higher cost of living. The list, which evaluates socioeconomics, location, and quality of life, includes cities like Lincoln, Nebraska, and Des Moines, Iowa, which offer lower living costs. The rankings highlight the Midwest's affordability, with Portland standing out for its healthcare and educational opportunities. Personal preferences and budget considerations remain crucial in choosing the best city to live in.
A Go Banking Rates study reveals that $1 million in retirement savings will last approximately 14 years in California, considering an annual cost of living of $72,319.57. The study, which used data from the Bureau of Labor Statistics and the Missouri Economic Research and Information Center, highlights the varying longevity of retirement funds across different states, with some states like Mississippi and Oklahoma stretching a $1 million fund to about 22 years, while in New York and Hawaii, it would last less than 15 years. Financial experts suggest saving at least 15% of annual income for retirement, but emphasize starting with what is feasible.
A study by United Van Lines has revealed that New Jersey topped the list as the state with the highest percentage of outbound moves in 2023, marking the sixth year in a row. With 65% of moves being out-of-state, factors such as retirement, lifestyle changes, and the high cost of living are driving the exodus. Illinois, North Dakota, New York, and Michigan also feature in the top five states people are leaving.
In the United States, an increasing number of consumers are canceling their streaming service subscriptions due to rising costs and the growing financial burden of the cost of living. Crystal Revis, a mother from Florida, exemplifies this trend by dropping her Disney+ and Paramount+ subscriptions and contemplating whether to cancel Netflix as well, despite its popular content.
Starting January 1st, Arizona's minimum wage has risen from $13.85 to $14.35, with a plan to reach $15 by 2025. La Indita's manager, Josue Rivera, supports the increase despite the challenges it poses to his business, acknowledging the need due to rising living costs. To cope with the wage hike and increased food prices, La Indita has slightly raised its prices. Arizona joins 23 other states in raising the minimum wage in 2024.
