Its been posted about Californias money Drain, Now NY is catching up, they are moving to to the south, mostly florida. Fl
Its not just the rich however, NY retirees are flocking to the south in huge numbers. Not only NY, but NJ, Conn
Liberal Progressive Policy and taxs are going to eventually murder the coast states. People will take just so much
Quitting New York is making financial sense for many of the city’s super-rich.
Analysts say a growing number of New York’s financial elite believe that fleeing the city for other states with lower taxes and costs in order to protect their wealth is a total no-brainer — particularly since the 2019 UBS/PwC Billionaires Report found that the collective net worth of their peers globally has plunged heavily for the first time in years.
“The wealthy are migrating out of high-income-tax states such as New York to lower- or no-state-income-tax locations, more than ever,” according to Michele Lee Fine, president of Cornerstone Wealth Advisory and a financial adviser in Jericho, New York.
“Much of the tone and focus of the recent political agenda has been attacking the wealthy directly at the wallet,” she added. “Whether you’re a billionaire or millionaire, there is cause for concern.”
And while President Trump and tycoons such as legendary corporate raider Carl Icahn — both of whom are swapping New York for lower-cost Florida domiciles — are grabbing headlines, dozens of lesser-known, highly successful wealthy New Yorkers are also plotting escapes.
https://nypost.com/2019/12/07/new-yo...-better-value/
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