Here’s where rich Gen-Xers are moving, study finds
Wealthy Generation Xers are headed to Florida, according to a new study.
In fact, people between the ages of 35 to 54 with at least $100,000 are moving to the South in general, SmartAsset found in its study published Thursday.
Approximately 9,000 wealthy Gen Xers moved to the Sunshine State from 2015 to 2016, the study found, which was the most of all 50 states.
Meanwhile, New York found about the same number of wealthy Gen Xers left during the same time frame.
According to the study, six of the top 10 states were in the South.
SmartAsset also found that Gen Xers don’t appear to like the Northeast. Among the bottom 10 states on its list -- where wealthy Gen Xers were mostly moving out -- four are in the Northeast, including New Jersey, Massachusetts, Pennsylvania and New York.
To calculate its results, SmartAsset looked at the inflow and outflow of wealthy Gen Xers in all 50 states as well as Washington, D.C. The states’ ranks were determined after outflow was subtracted from inflow, the study said. It used data from the IRS from 2015 to 2016.
SmartAsset defined Gen Xers as people between the ages of 35 and 54 and “wealthy” as an adjusted gross income of $100,000 or more.
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These are the top 10 states where rich Gen-Xers are moving, according to SmartAsset.
1. Florida
2. Texas
3. North Carolina
4. Washington state
5. South Carolina
6. Colorado
7. Oregon
8. Tennessee
9. Georgia
10. Arizona