Lifestyle

Best Places to Live 2017

June 5, 2017 by palladinero Leave a Comment

Have you ever read one of those “Best places to live” lists? I have fantasized about living in one of those towns/cities since I was a kid. Living in one of them never seemed attainable to me because they were either too far from my home, too cold or too expensive. What does it mean to live in one of those places?” What criteria is used to determine this?

Methodology

I looked at 3 websites to compare their criteria and methodology.

Livability examines quality of life in over 2,000 cities in the US and have been doing so for the past 28 years. Their main focus is to help cities attract and retain residents and businesses. They narrow down the top cities by looking at 4 main criteria: Level, Inclusive, Variety and Engagement.
Level describes whether there is a level playing field for everyone to succeed (education, jobs and technology).
Inclusive measures a cities diversity. This includes age, race, income and other factors.
Variety describes flexibility for residents to choose schools, hospitals, housing, parks, farmers markets and transportation.
And finally, Engagement looks at whether residents are making the most out of all the opportunities available. This includes voting, local meeting attendance and joining community organizations.

US News & World Report is a weekly news magazine that was founded in 1933. They generate several “Best of” lists and are considered an authority on them. Their Best Places to Live list looks at the Job Market, Value Index, Quality of Life, Desirability and Net Migration.
The Job Market Index measures the strength of a cities job market.
The Value Index measures whether the average resident of each city can afford to live within their means, in other words a Cost of Living index.
The Quality of Life Index measures how satisfied residents are with their daily lives in each ranked metro area. It quantifies the crime rate, quality and availability of health care, quality of education, residents level of happiness and the average daily commuting time.
The Desirability Index measures whether or not people want to live in a given metro area. To determine this, they asked people from all over the country where they’d prefer to live.
And Net Migration measures whether people are moving to or away from each of the metro areas. It represents whether or not a metro area is actually attracting new residents.

Niche describes themselves as “…a website that helps you discover the schools and neighborhoods that are right for you.” Niche uses similar criteria as Livability and US News but they include some specific factors as well.
There is a Higher Education Rate which is the percentage of residents who have received a bachelor’s degree or higher. The Nightlife Grade measures the access to bars, restaurants, theaters, and other attractions. The Outdoor Activities Grade quantifies weather, air quality, and access to parks and other recreational opportunities. And the Weather Grade is based on number of sunny days, precipitation, and average temperatures in an area.

Based on these three lists here is my Top 10 Places to Live.

Ann Arbor, MI: The home of the Michigan Wolverines. A safe, highly educated town with a diversified economy that is growing in technology and health care. There are also plenty of outdoor activities to take advantage of as well.
Arlington, VA: A suburb of the nation’s capital boasts excellent education, parks & rec, access to a major city and is among the most diverse cities in the US (140 countries represented).
Austin TX: Home to the famous South by Southwest festival, is known for being the “Live Music Capital of the World”. There is no state income tax and low sales taxes. Even though Texas is known as a driving state, there have been major improvements to Austin’s public transportation.
Fort Collins, CO: Residents enjoy 300 sunny days a year, excellent schools and an array of recreational activities. Businesses such as Anheuser-Busch, Eastman Kodak, Hewlett-Packard and Agilent Technologies loom large in the city.
Madison, WI: Madison is widely known as a top college town, food capital and music. Affordable housing, technology investors and good public schools are other reasons this annually makes top livability lists.
Naperville, IL: The suburb of Chicago is a safe community, has eight college and university campuses, 130 parks, four sports complexes and an award-winning Edward Hospital (its largest employer).
Overland Park, KS: A highly-educated community that has many companies based there, including Sprint, the city’s largest employer. The top soccer city in the US boasts many parks, 4 lakes and 6 sports facilities.
Portland, ME: Boasts more restaurants per capita than any other US city. Plenty of arts, culture and outdoor recreation keep the residents entertained. Portlanders are also among the healthiest due to all the outdoor activities. And did I mention the fresh lobster and seafood???
Rochester, MN: Having one of the top medical clinics has to be a major perk. The Mayo Clinic will soon be expanding and could add an additional 40,000 jobs. The University of Minnesota will also expand to here to anticipating an influx of young people. This city will be experiencing major growth and diversity in the next few years.
Seattle, WA: The Emerald City has an abundance of farmers markets and some are even open year-round. There is plenty of outdoor recreation and live music (the birthplace of grunge) to satisfy almost anyone’s taste. And no, it does not rain every day.

Do you currently live in one of these towns? Is your town deserving? Are you planning on moving to one of these towns?

Mike

PS: I can be found on Snapchat, Instagram, Pinterest, Twitter, Google+ and Facebook

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Professional Sports Gambler

May 31, 2017 by palladinero Leave a Comment

What is your dream job? When I give it a lot of thought, for me, it would be a professional sports gambler. This “job” would have flexible working hours and would require me to watch sports with an actual vested interest in the games. Is this particular dream job even possible for me?

I enjoy going to Las Vegas (and definitely need to visit again). I’m not a big participator when it comes to playing slots or table games. Once in a while I will play roulette or a few quick pulls on slot machine. The one thing that I like to bet on is sports. I have mainly bet on NFL, NCAA football and horse racing.

One of my favorite trips to Vegas was spending an entire Sunday watching every NFL game at the Caesars Sports Book. There was a group of 20 of us who spent all day there. Plenty of laughs, excitement and fits of anger happened during the games. The comfy seats, waitress service and overall experience made it memorable. It was 12 hours well spent. I won a bit so that that it better too.

Gambling Podcast

A new podcast that I’m currently listening to is “Against All Odds with Cousin Sal”. It’s a sports gambling podcast featuring Jimmy Kimmel’s “favorite” cousin. I really enjoy listening to it because you can hear the genuine delight and fury when their picks win or lose (mostly lose). It’s amazing how much research Sal and his panel of “experts” put into making a pick just for it to blow up in the last seconds of a game. It goes to show you that gambling really is a game of chance.

I brought up the podcast because Cousin Sal bets on so many games and events (Oscars, Dancing With The Stars) and is hilarious. Even though it is not his day job, it might as well be. I’m not sure his wife would want that career change though.

So is it possible for me to become a professional sports gambler? Of course it is. But I would need to develop an excellent betting strategy, accumulate a big bankroll and a large amount of luck.

Move to Vegas?

Legally speaking, yes. Las Vegas is the only city in the US that allows sports betting on the major sports leagues. But I have found many websites that take action. All that said, I think my wife wouldn’t mind because she will enjoy the weather.

Jumping In

After moving to Sin City and finding a job I would have to start by saving 10%-15% of my paycheck to build up a bankroll. The bankroll would allows me to bet every week without dipping into my personal funds. So keeping my day job would be a must so that I don’t ruin my life.

Bankroll Strategy

There is no standard bankroll amount but there is an excellent betting strategy for beginners that will allow me to keep me bankroll afloat. Bet no more than 2% of the bankroll on each bet. Let’s say that you have a $1,000 bankroll, the most you would bet would be $20. That way you will never get greedy and “let it ride” on one bet. It is similar to Zeno’s Paradox and will never get to zero. Obviously in the beginning i would need to bank all of the winnings to the bankroll. If I keep winning this will get me on the path to sports gambling heaven. But, that is a big “If”.

When to go Full Time?

The obvious answer is when I become a Whale. Amassing a small fortune would have to be the starting point for me. Plus the betting system would have to earn enough money each month to live on.

That is if the Sports Books keep taking my bets. Sports Books tend to close accounts if you win too much, so I will have to place some sucker bets every now and then. That sounds so unfair but it would be the cost of doing business.

Record Keeping

I would need to keep meticulous records of winnings and losses to keep the IRS happy with my details. No reason for me to get audited.

Good luck to me, I’ll need it. And take a listen of The Cousin Sal podcast.

Do you know any Professional Gamblers? Could you take the plunge and do this for a living?

Mike

PS: I can be found on Snapchat, Instagram, Pinterest, Twitter, Google+ and Facebook

Retiring Abroad

May 23, 2017 by palladinero Leave a Comment

Where do you want to retire? Do you think that far into the future? I have no idea where I will live in 30 years, but it will most likely not be in NYC because of the high cost of living.

It is common in the US for retirees to move to New Hampshire, Colorado and Maine. The low cost of housing, low crime and good health care are the main factors for people to retire in those states. But others want to live outside the US. What factors should they look into?

On of my cousins is moving to Costa Rica when he retires in a few years. His wife is from Costa Rica and they just recently bought a condo there. He has been planning this for awhile and is looking forward to the next chapter in his life.

Factors to Consider

Language

Do you speak the native language? If not you will need to learn the local language if you want to assimilate into the community. Moving to Central America? Learn Spanish. Want to live in Brazil? Learn Portuguese. I feel that it would come across as snobbish if you choose to only speak English in those countries. Asking for help, ordering food at a restaurant, shopping at stores and general conversation would be more pleasant while speaking the native tongue. Also, if you are moving to an English-speaking country it would be a good idea to learn the local slang.

Health Care

Who doesn’t think about health care as we get older? That’s right, no one. You will need to research health care options in the country you are thinking of moving to. Medicare does not cover health services in foreign countries. Many countries have less expensive public or private health systems in comparison to the United States. Costa Rica and Mexico, even allow foreigners with resident visas to buy into their national plans.

Finances

This would not be a Personal Finance blog if I did not state the following: Take care of your money. You will have to investigate how you will access Social Security benefits and your savings while living abroad. Will you need a local bank account, or can you access U.S.-based accounts? If you set up a local account, be aware of U.S. reporting requirements that require you to report overseas bank and investment accounts, with severe penalties for noncompliance.

Keeping a bank account in the U.S. is a good idea, especially if you return frequently to the States. Some banks have closed expat accounts, citing Patriot Act provisions designed to thwart financing of international terrorists. Some people get around this problem by maintaining a U.S. mailing address. For further advice go to www.americansabroad.org.

If you use a foreign bank account to pay bills and for every day spending money, you will probably have to file an annual Report of Foreign Bank and Financial Accounts (FBAR) with the U.S. Treasury. This form is mandatory if the total value of your foreign financial accounts exceeds $10,000 on any day during the calendar year. Failure to comply with this reporting requirement could trigger stiff penalties.

Crime

Crime is on everyone’s mind. When you retire all you want is peace and quiet. Many expats say that the reports of crime outside the U.S. are often exaggerated. Daniel Prescher of International Living, who previously lived in Merida, the largest city in the Yucatán peninsula, says drug violence in Mexico is limited to isolated border areas. Still, American retirees may be targets for crime, particularly in countries with a high poverty rate. For additional information on the risks, visit the State Department’s Retirement Abroad advisory.

Steps to take

Rent before you buy
Take care of your finances before moving
Find out about local health care
Check out the State Departments website
Have a plan for the rest of your life

Best of luck to my cousin and to all of you who are considering this move.

What foreign country would you consider retiring to?

Mike

PS: I can be found on Snapchat, Instagram, Pinterest, Twitter, Google+ and Facebook