America is pretty big. Because it's one country, we take for granted how different the culture and feel of a state like North Carolina is compared to a state like New York or California. And, while our language is pretty uniform, our differences are just as big as between countries in Europe, which are even closer than those examples.
Even more so, the value of a dollar is different in different states. We get this to a certain degree … it's more expensive to live in California or New York than it is to live in Arkansas or Mississippi. There are lots of reasons why. But how different is it?
VisualCapitalist put together a good map on the subject.
via VisualCapitalist.
The purchasing power of a dollar varies significantly across the United States. For instance, a dollar in Arkansas buys approximately 26% more goods and services than in California.
Given these regional differences, while Florida may be a popular retirement destination, those concerned about the frequency of hurricanes might find North Dakota, Arkansas, or Oklahoma more appealing.
Thinking more globally, for those seeking a combination of affordability and natural beauty, many countries offer a higher purchasing power and stunning scenery. While you might miss the unique aspects of American culture, such as our politics and Walmart, these international destinations could provide a rewarding retirement experience.
Just a thought … for those of you considering a move if the "wrong" candidate wins!
