College grad with an offer in Melbourne/Palm Bay, life for young adults in the area? (insurance, houses)

[Mr.Bb]

I'm 22, graduating from a major public university, and I have a very competitive offer for a finance position in the Melbourne area. I'm trying to decide between another offer in DC. The one thing thats hard for me to figure out is what it would be like to live in the Melbourne area as a young professional in my early 20s. I heard its changed a lot recently, and thus its hard to base anything off previous years. From what I understand it's a beach town, but are there any young people who can speak on behalf of the atmosphere, things to do, bars, etc. in the area? I know I'm comparing a large city to a beach town, but I am big into nature and grew up half my life in NJ and the other half in Ft Myers Beach so I'm adaptable but want to know what I'd be getting myself into from the perspective of a young professional my age.

[mpafr012]

Something else to consider is pay. DC has income tax and fl doesn't, so unless the job in DC pays at least twice as much, I would take the Florida job.

[Nypafl4u]

To be more accurate, Florida does not have State Income tax. You still have to pay a Federall Income Tax, Social Security and any other payroll deductions. For us in NY, that amounts to less than 6% savings. So be careful if the pay is half. You may get surprised that some things in Florida (like insurance) is higher per dollar covered. Housing and utilities overall most certainly will be cheaper in Florida than DC. Winter heating far exceeds summer A/C expenses in my neck of the woods. Weigh all variables carefully.

[chopchop0]

Originally Posted by Nypafl4u

To be more accurate, Florida does not have State Income tax. You still have to pay a Federall Income Tax, Social Security and any other payroll deductions. For us in NY, that amounts to less than 6% savings. So be careful if the pay is half. You may get surprised that some things in Florida (like insurance) is higher per dollar covered. Housing and utilities overall most certainly will be cheaper in Florida than DC. Winter heating far exceeds summer A/C expenses in my neck of the woods. Weigh all variables carefully.

Unless its oil. Oil was super cheap this year

[CyberConch]

My two cents, having spent almost five years now in northern Virginia, including some time spent working in DC:
- if you like spending hours commuting
- if you're okay spending more for everything (with a concomitant increase in variety and quality)
- if you're okay living and working with a lot of Type-A folks who are big into conspicuous consumptions
- if you're young and single and want to get a good start in your career
then DC is probably for you.

I've mostly hated the DC area as long as we've lived here, which is why we're moving back to Brevard in August, but it does have its charms.

[Nypafl4u]

Originally Posted by CyberConch

My two cents, having spent almost five years now in northern Virginia, including some time spent working in DC:
- if you like spending hours commuting
- if you're okay spending more for everything (with a concomitant increase in variety and quality)
- if you're okay living and working with a lot of Type-A folks who are big into conspicuous consumptions
- if you're young and single and want to get a good start in your career
then DC is probably for you.

I've mostly hated the DC area as long as we've lived here, which is why we're moving back to Brevard in August, but it does have its charms.

Agreed.
Same can be said for most of metro NY. Fast paced, high anxiety, traffic, high taxes if in a good school district, but always something to see or do. I think if living in an area like that, you yurn to slow it down and seek a calmer exhistance. Those that start in the slower pace areas, tend to want to get out and experience "the big city" and all that it can offer. Then you wake up one day and realize, it may not be your cup of tea for too long. I think that's what brings people back. I am curious when the time comes, how I will adjust to the slower pace after living all my life in or around the city. But I do look forward to that day...

[mpafr012]

[quote=Nypafl4u;43354279]To be more accurate, Florida does not have State Income tax. You still have to pay a Federall Income Tax, Social Security and any other payroll deductions.


I was accurate. Social Security is Federal not State of Florida tax and Federal Income tax is obviously Federal. Florida has no Income Tax.

[Nypafl4u]

[quote=mpafr012;43369041]

Originally Posted by Nypafl4u

To be more accurate, Florida does not have State Income tax. You still have to pay a Federall Income Tax, Social Security and any other payroll deductions.


I was accurate. Social Security is Federal not State of Florida tax and Federal Income tax is obviously Federal. Florida has no Income Tax.

I was trying to break it down for some people that read "Florida has no tax" to mean you don't pay any taxes in Florida. That's how I read it. I have spoken to many people thinking of moving here who honestly feel you pay no taxes from your pay check if you move to Florida. Just clarifying for some that Federal never goes away.

[Mr.Bb]

Just to put it into perspective, I have considered Florida as being cheaper in terms of cost of living. The salary offered in DC is roughly 4-5% more so far from double, which is why the Florida offer is something I considered very competitive. However, my main concern is getting bored living in Melbourne, since a lot of it has hanged I'm mainly wondering how attractive living in Melbourne would be for somebody in their early mid 20's - whether that's worth saving a little money in the beginning. Thanks CyberConch for the input, the most attractive part of DC is getting the experience and networking that comes with a big city and advancing my career early.

[Nypafl4u]

At your age, I might lean towards the DC area as much as it pains me to say this. Melbourne and the Brevard area have much to offer but it just can't compete with a major metropolitan area if you are looking for amount of things to do, diversity of people and their cultures as well as numerous museums, playhouses, and restaurants/bars that someone in your age group may gravitate more to. I would think the job variety and quantity, depending on your specialty, will likely be greater as well, lending to a higher chance for job advancement.
Just keep in mind the hustle and bustle, traffic, pollution, and higher cost of living that may strain you a bit when weighing in quality of life. Again, I just think at your age group, you should get it out of your system, while still young, to experience that kind of life adventure or you may regret it later on for not giving it a try.