Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
It’s no secret that big city living is expensive. We’ve all heard stories of starving artists sleeping 6 to an apartment in Boston, aspiring actors working three jobs to make ends meet in Chicago, or the infamous $500,000 closet-sized apartment in New York City. Talk to people you know who live in big cities and you’ll hear more of the same- usually accompanied by complaints about just how hard it is to get by.
But then again, big cities do offer some things that small towns simply cannot- the hustle and bustle of the crowds commuting, the big buildings towering overhead, the nightlife, the shopping, the scenery, the people-watching, the street fairs and the culture. But, those perks come at a high cost for anyone who isn’t already well-to-do, especially for Gen Yers.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The Financial Benefits of Midwestern Living
According to the U.S. Census Bureau, the Cost of Living Index “measures relative price levels for consumer goods and services in participating areas for mid-management standard of living. The national average equals 100 and each index is read as a percent of the national average.” So basically, the COL Index is a theoretical price index that is used to measure the relative cost of living in a specific place and time.
As you can see by this list, the cost of living for the biggest cities in the U.S. is almost twice that of some of the smaller, Midwestern regions:
The table tells the story clearly. Let’s start with San Francisco, California as an example. The median housing value for 2008-2012 was more than 700 percent that of the median housing value in Memphis, Tennessee during the same timeframe. However, the median household income was only twice as much. With such a huge disparity between incomes and housing prices, it’s no wonder that only 36.9 percent of San Francisco residents owned homes from 2008-2012.
How to Get Rich in the Midwest
Rather than taking your savings and purchasing a million–dollar home in the Midwest, the real way to get rich in the Midwest is to take advantage of the low housing prices, low taxes, and low cost of living. Instead of going big, try to buy a house on the low end of what you find acceptable and stash all of your money away instead. Companies like Personal Capital can then help you keep track of your savings.
If you’re living in the big city and struggling to get by, consider moving to a place where even a modest income can make you instantly rich. After all, the money you can save could mean the difference between struggling to get by or getting rich, renting forever or owning your dream home, and traveling the world or staying home.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.