New Report: Rich Gen X'ers LOVE Florida's heat & jobs (Sarasota: low income, 2015)

[beach43ofus]

https://www.foxbusiness.com/features...en-xers-moving

Rich Gen X'ers are flocking to FLA says this report, so the heat & lack of jobs is clearly not deterring them from leaving the Northeast and coming here (& 5 other Southern States). Or, maybe they are not seeing any unusual heat trends, or any lack of good jobs here. Or, maybe they are just sick and tired of paying high taxes to support all the government pensioners up East.

They seemingly hate the Northeast since that is where they are all coming from. I'd love to see more details on where in Florida they are landing. Since our area's school enrollments are growing, we must be getting our fair share of them

Gen X'ers are 35-54 yrs old, and this report defines "rich" as those making $100,000 of adjusted gross income. They must be finding plenty of good jobs down here despite the gloom and doomers claims of no good jobs in Florida. This report says 9,000 great jobs in just 1 year. Afterall, these are not retirees.

I'm starting to think the gloom and doomers on this forum complain about the lack of good jobs here just because they can't get one! It's time for them to look into the mirror.

The data is from 2015-16 so it's a bit outdated, but I'm guessing that is the most recent data the government makes available, and that current data would show similar migratory trends.

The source of the data is the IRS, so the gloom & doomers can't attack the source...their beloved government. The same government agency they want everyone to give more and more $'s to.

I wonder if they are okay with the IRS making their information available to the media like this?

So, Florida is attracting a young, affluent, well-educated workforce from dying overtaxed Northeastern States, and not just affluent retirees. The Northeast is losing a LOT of big taxpayers and replacing them with low income immigrants.

[sarasotalaw52]

Can we get a breakdown of the jobs market that the inflows are coming for? I work in legal tech but and made most of my money in tech but it's not exactly silicon back alley here. It must be in services, medical and legal?

[beach43ofus]

Florida employment by sector as of June 2019:

https://www.bls.gov/eag/eag.fl.htm

Leisure and hospitality is 4th, I would have guesed it to be #1.

#1 is trade, transportation, and utilities
#2 business services
#3 education & health services
#4 leisure and hospitality
#5 government

[sarasotalaw52]

Awesome stuff. Growth = $, let's just hope it's managed well. I wish there were more tech opportunities here.

[beach43ofus]

Originally Posted by sarasotalaw52

Awesome stuff. Growth = $, let's just hope it's managed well. I wish there were more tech opportunities here.

There's 1 thing all the top 5 sectors share...they all need tech!

[hpotterfan77]

I'll give my own perspective...I currently live in CT but we are planning a move down to that area of FL in the spring. My household's income is over $100K currently...though rich...I think not but...we are moving down there because I just like FL and my sister is there so it'd be nice to be closer to her. Yes, taxes in the NE stink but it has zero to do with why we're relocating and I'm in mortgage banking and hubby is a tractor trailer driver. We just like FL and that's it..lol

[JCPTNH08]

We fall in this demographic and are new FL residents. Prior, we lived in California and Boston. We moved to FL to be near my family who moved here ages ago from the Northeast and for the lower cost of living so that we could afford to start our own online business. With housing costs in Boston and the San Francisco area being 3-5x what we paid for a house here, it made sense. Plus we are super close to the beach. Can't beat that!

[MattMN]

Interesting study! We fall in there too - GenX-ers who moved to FL in 2016. Our kids were out of high school and we didn't want to wait until retirement. Mainly picked here due to weather, although my wife's parents are in Englewood, but we love the Sarasota area. I'm in IT as well.

We came from Minnesota rather than the Northeast. MN is also a higher-tax state, but taxes had nothing to do with our decision. Actually, the lower salaries in Florida seem to offset the lack of state income tax, so that's a wash in my opinion. Overall cost of living is about the same, certainly not cheaper.

All that said, out of 300,000 people moving to Florida every year, 20,000 wealthy GenXers may not be a big indication of anything. I suppose if you really wanted to see if Florida was attracting more than it's share, you'd have to compare the SmartAsset study numbers moving into all the states, against the overall population trends for each state.

[beach43ofus]

I fell into this category too when we moved to Florida. We moved from Georgia, so we ditched the 6% state income tax, and we saved on property taxes too, so we are ~$15,000/yr better off, and we left Winter behind and we're 20 mins to the beach.

Take that out over the next 30 years, put the savings in a bank CD, and its $500,000+. No brainer.

Many think it's all retirees, and low wage earners moving to Florida. I've read a lot of posts here from people who say there's no good jobs here, no good schools, old people moving here to die, Florida doesn't have any manufacturing, and lots of negative stuff about Florida, and our area within Florida.

When I come across upbeat and positive study's, articles, polls, ect.. from what seems to be reliable sources, I like to share them here to dispell all the negative posts from the doom and gloom crowd.

[sarasotalaw52]

Originally Posted by beach43ofus

There's 1 thing all the top 5 sectors share...they all need tech!

The difference of what tech pays here versus in actual tech city hubs is extremely different. I'm fortunate to be in a great tech space and have been here for 20+ years in my space but recruiting has been a chore. There's been some effort to spur young tech people to come but again, the tech opportunities have been minimal.