Why Are People Moving Out of Connecticut at an Alarming Rate?
According to a study by two large moving companies, more people are moving out of Connecticut than moving in.
A recent article in the Hartford Courant highlights a study by United Van Lines that showed 60% of their Connecticut customers are movin’ on out. Last month, the United States Census Bureau reported another population downturn in Connecticut for the third year in a row. So why are so many people jumping ship in Connecticut?
- Taxes, Taxes, and more Taxes – Connecticut and New York came out on top in 2016 with the highest tax rates according to forbes.com. Connecticut’s tax rate was at the top at 12.6% while Wyoming only taxes their citizens at a rate of 5.42% and there is no state income tax.
- Connecticut’s Fiscal Crises – Connecticut’s money problems continue to escalate. Big businesses have had enough and are packing up and moving out like GE and Aetna. Wtnh.com reported that 28,000 people moved out of the state in 2015 alone.
- High Cost of Living – Let’s take $100 and see how much it’s actually worth in different states. According to taxfoundation.org., in Connecticut that $100 is worth $91.91 compared to Mississippi where That same $100 is actually worth $115.34. It’s simply a fact that Connecticut is one of the top ten states with the highest cost of living.
- Job Reasons – According to the 2016 National Movers Study by United Van Lines, 45% moved out of Connecticut for job reasons.
- Aging Population That Can’t Tolerate the Cold – I’m one of those baby boomers who can still tolerate the cold but I’ve had just about enough. Life would be more fun if we could climb aboard our pontoon boat all 12 months of the year instead of just six months.
As Mindy and I begin to see retirement somewhere down the road, we aren’t going anywhere. We choose to be close to our grandkids, Bradley and Winter. It’s as simple as that. Our priority is to experience our grandchildren growing up.
Yes, it’s expensive to live here in Connecticut, but instead of complaining about this beautiful state where you can’t afford to live, take out a sheet of paper and write down the advantages and disadvantages of living in this overtaxed state, and then make your decision. Should I stay or should I go? To quote the 80s band, The Clash:
One day it’s fine, the next it’s black. So if you want me off your back, Well c’mon and let me know, Should I stay or should I go?
Bonus Video: Pam Introduces the New i95 Mobile App