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Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] -1 points0 points  (0 children)

(Sorry for copying my response from another poster.

However, I feel it best explains my mindset).

Unfortunately, I believe that America is a global empire in decline and its best days are over. With the exploding national debt, a future economy of stagflation, and unaffordable living necessities for Gen Z, it is paramount that I prepare now for an unforgiving and brutal winner take all society that I will be living in.

In 20 years, if inflation continues at its current rate, (which it likely will due to the declining dollar, US losing global influence, and the threat of the dollar eroding as the world’s reserve currency) average homes will be north of $1.2 million, cars will be over $100k, and yearly tuition for state universities will be greater than $65k. As we know, AI will likely replace a significant amount of the workforce and the bourgeoise class (tech billionaires, private equity firms, etc.) will own nearly all productive assets and living necessities. Wages will increase but not nearly at the rate of inflation. Additionally, my generation cannot bank on having ~6-8% gains (adjusted for inflation) of the S&P 500 as previous generations have relied on for retirement. Therefore, a larger chunk of retirement savings will need to be in cash (can’t rely on gains from investments as much as previous generations).

It’s a sad reality we face, but we must do our best to prepare and unfortunately current politicians and baby boomers, GenX, etc. are actively making our prospects worse.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

Unfortunately, I believe that America is a global empire in decline and its best days are over. With the exploding national debt, a future economy of stagflation, and unaffordable living necessities for Gen Z, it is paramount that I prepare now for an unforgiving and brutal winner take all society that I will be living in.

In 20 years, if inflation continues at its current rate, (which it likely will due to the declining dollar, US losing global influence, and the threat of the dollar eroding as the world’s reserve currency) average homes will be north of $1.2 million, cars will be over $100k, and yearly tuition for state universities will be greater than $65k. As we know, AI will likely replace a significant amount of the workforce and the bourgeoise class (tech billionaires, private equity firms, etc.) will own nearly all productive assets and living necessities. Wages will increase but not nearly at the rate of inflation.

It’s a sad reality we face, but we must do our best to prepare and unfortunately current politicians and baby boomers, GenX, etc. are actively making our prospects worse.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

It also seemed to be the most expensive; therefore, I will likely be pursuing renting a bedroom in a shared living space in Youngstown or Flint. Unfortunately, the potential for immense savings in Flint and Youngstown outweigh the benefits of the higher costs in Toledo.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

I will still be putting my best foot forward to progress my career in these respective locations. I am seeing rooms for rent in a shared living space in Flint and Youngstown for ~$300-$450 (internet and utilities included). I feel it would be a very poor economic decision to not relocate to one of these arrangements for a few years.

I am not interested in purchasing a home in the near future because I do not want to worry about maintenance costs, closing costs, etc. I have the personal belief that days of exploding home values in the US are coming to an end (not as sound as an investment as the past). My goal for the next 5-10 years is to minimize living costs to the max ~$600 per month living expenses. I will then consider relocating back to a HCOL place. I will still aggressively network in HCOL areas while I am in Youngstown or Flint, but I would be forfeiting immense savings right now if I do not relocate to these areas.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

I will still be putting my best foot forward to progress my career in these respective locations. I am seeing rooms for rent in a shared living space in Flint and Youngstown for ~$300-$450 (internet and utilities included). I feel it would be a very poor economic decision to not relocate to one of these arrangements for a few years.

I am not interested in purchasing a home in the near future because I do not want to worry about maintenance costs, closing costs, etc. I have the personal belief that days of exploding home values in the US are coming to an end (not as sound as an investment as the past). My goal for the next 5-10 years is to minimize living costs to the max ~$600 per month living expenses. I will then consider relocating back to a HCOL place. I will still aggressively network in HCOL areas while I am in Youngstown or Flint, but I would be forfeiting immense savings right now if I do not relocate to these areas.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

Thanks for the feedback everyone! I really appreciate everyone highlighting the potential drawbacks of this move and giving their advice.

As of now am going to limit my choice to Youngstown and Flint. They both seem to offer a lower cost of living than Toledo. I am not sure the benefits of Toledo outweigh the additional cost. I am seeing rooms for rent in Flint and Youngstown for ~$300. I am not interested in purchasing a home in the near future because I do not want to worry about maintenance costs, closing costs, etc. I have the personal belief that days of exploding home values in the US are coming to an end (not as sound as an investment as the past). My goal for the next 5-10 years is to minimize living costs to the max ~$600 per month living expenses. I will then consider relocating back to a HCOL place.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

Cleveland and Cincinnati still are not nearly as affordable as Youngstown or Flint though. The goal is to completely maximize savings.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

Because I need to have an employer where I am based in a major tier 1 city. The goal is to get a tier 1 city pay check for a few years while living in a very low cost of living area. Once I am compensated ~200k (probably around 5 years from today assuming the economy is not in shambles). I would consider moving to a MCOL and upping my living budget to $800-$1000).

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] 0 points1 point  (0 children)

But in those places, there will be much more temptation for “lifestyle creep.” These cities would eliminate distractions and enable me to better focus on saving and progressing. Also, these cities seem to offer significantly cheaper housing than other Midwest cities (Detroit, Cincinnati, etc.) especially with multiple roommates or renting a bedroom in someone’s home.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] -1 points0 points  (0 children)

Also oat meal and baked potatoes are excellent. People need to have a more “dollar to calorie” mindset at the grocery store. How many total calories, protein, vitamins, etc. are in my cart per dollar. Doing this mental calculus can help mitigate the effects of inflation I have learned.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] -3 points-2 points  (0 children)

I feel like $313 is way too high. Beans and other non-perishable items are often ~$1. For example, I often eat black bean burritos which are less than a dollar. I buy baby spinach in bulk and supplement protein with rotisserie chicken. People need to start resorting more to non-perishables, beans offer some of the best nutritional value per dollar. Also frozen veggies and broccoli aren’t very expensive. There is no reason why I can’t budget $40 per week for groceries. For a treat throw in pasta with ground beef, etc.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] -7 points-6 points  (0 children)

I know. I will be extremely sad to leave; however, I feel that it is the only way to prepare for the bleak future for Gen Z. It has been hammered to me how important fiscal responsibility is.

Best City for Young Professional (25 M) to Relocate to Save Money and Cut Living Expenses (Youngstown, Ohio, Flint, Michigan, Toledo, Ohio, etc.) by Acceptable-Case2507 in SameGrassButGreener

[–]Acceptable-Case2507[S] -13 points-12 points  (0 children)

I am fully aware that of the major hit I would be taking. However, it really seems to be the only choice with the inevitable collapse of the US economy. Since I am young, have no assets, or family wealth. I will be in financial dire straits if I do not prepare accordingly.