While People Flee Massachusetts, Retirees Across the Country Are Choosing Maine
Fleeing Massachusetts? Yup. The commonwealth sits in the top 10 states people are moving out of as they find new states to call home. It is also the #3 most expensive state to live in the country following Hawaii and California, according to Forbes. And get this, I was scrolling through Instagram and came across this insane statistic on the Only in Boston page.
Boston is just one of 13 cities where you need $100,000 a year to live comfortably (whatever that means). This stat is for both renters and homeowners when you use the 50/20/30 rule. If you haven't heard of that rule, it's basically where 50% of your income goes to necessities, 20% to savings, retirement, and investments, and 30% for fun like vacations, going out for fun dinners or concerts, shopping for that new summer wardrobe, and anything that's considered splurging.
So when it comes to the states where more people are moving out of than to, Forbes' latest findings rank Massachusetts #6, even though Massachusetts ranks fourth in the country on quality of life.
The Forbes article points out that more than 56% of Massachusetts residents moved out of the commonwealth. By the way, our neighbor to the north, Vermont, is the most moved-to state in the country. Meanwhile, Florida is the number one state retirees move to, to absolutely no one's surprise. So, it's fun to see that Maine, a state that's basically the polar opposite, was ranked as the #5 most popular state that retirees are calling home.