Cities That Will Pay You to Leave Town, Ep #257

Have you considered moving to a new city in retirement? If you work in the tech industry you may find a city willing to pay you to move there.

In today’s retirement headline segment, we’ll dive into an article written by Christopher Mims at The Wall Street Journal which explores towns that provide incentives to lure highly paid tech workers away from Silicon Valley.

Don’t miss out on the listener question segment especially if you have or are considering an annuity. I’ll explain the various fees, benefits, and drawbacks of these insurance investment products.

This is the last week to complete our annual listener survey, so if you haven’t filled it out yet, then please do so that you can voice your opinions and help direct the future of this show.

Outline of This Episode

[1:22] Some towns are offering moving incentives to remote tech workers
[5:14] How could this improve your retirement?
[6:34] How variable annuity fees are calculated
[8:40] Annuities can provide many options
[12:56] My thoughts on annuities
[16:30] Don’t forget to fill out our annual listener survey

Skilled remote workers could receive cash and other benefits to move

An increasing number of cities and towns are offering cash grants and other incentives to draw skilled remote workers to their communities and boost their local economies.

Local governments are offering these remote employees willing to move up to $12,000 in cash. Many also include other perks like subsidized gym memberships, free babysitting, and office space.

Instead of drawing whole companies, many towns are happy with just a few employees

This type of program can be compared to the way that cities have tried to draw in larger companies from various industries in the past. The difference now is that these companies don’t need to move their offices fully. Many small towns don’t have the budget to attract major companies to their town, so finding high-paid tech workers who are willing to relocate is one way to create new roles in health care, education, and the service sector locally.

Break out of your comfort zone to try something new

Now is the perfect time to break out of your comfort zone and try something new. If you are a tech worker who has considered moving in retirement, this type of incentive program could be the perfect opportunity to push you to try out a new place.

Start doing some of your retirement bucket list items now. Work has never been more flexible. Take this opportunity to live closer to family, friends or your favorite vacation spot. You don’t have to wait until retirement to start living your dream. Consider this podcast your sign if you have been looking for a sign to try something new.

Remember to listen in until the end of the episode to hear how you can get a free book!