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How do I decide where to live in order to maximize my financial stability.

I want to live somewhere that the job opportunities are ample and I can provide for my family but I also don't want to end up in a bad area or somewhere that is known for paying less in the profession I am going into.

#nursing #relocation #job-opportunities #financial-planning

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Dannon’s Answer

There are a number of organizations that rate great places to live on a number of different criteria. I recently found this one: https://wallethub.com/edu/best-worst-cities-to-start-a-career/3626/.

The answer to your question would depend on a number of things including your skills and education and stage in life. You may be able to find a job that offers you financial stability, but doesn't offer you much more. Consider looking at more than one criteria.

Dannon recommends the following next steps:

Do some research online. Check to make sure you know the how the lists are put together so you get a more objective list and also so it aligns with what you actually want out of a place to live. Look at places with strong economies and communities and that are a good match with your interests and values.
Ask around. Ask people what they like about where they live. Friends and a social life can be an important part of where you live. Ask questions specific to your values and concerns.
Visit different cities. This could be either for vacations and trips or for internships and job shadows. Try to get an idea of what it would be like to live and work in different places.
Understand that moving somewhere isn't an end-all and you can move if things aren't working out. You will never be 100% sure that the place you move will give you everything you want. You will likely have to take a "leap of faith."

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Chris’s Answer

Nursing is a great field that is in high demand everywhere. Of course, larger cities pay more than working in smaller rural areas but the cost of living also varies quite a bit as well. I suggest studying the cost of living in cities, figuring out which ones you think would be a good place to start and then checking into the hospitals that are in the area. Large cities that have more hospital systems are more competitive and you can get a better starting pay rate. Small cities do not have such competition and are probably not that good even with lower cost of living. I would suggest looking at mid range cities of around 1 million or a little more to start.