New York and California are losing their edge as the most attractive places for highly skilled young professionals looking to expand their careers.
Young professionals with sizeable incomes are moving to places more favorable to their lifestyles and businesses, according to new research conducted by SmartAsset, an investment advisor group.
SmartAsset’s September survey reviewed the movement of so-called “rich young professionals”—those younger than 35 earning an adjusted gross income of at least $100,000 a year.
The survey followed the inflow and outflow of those in that category through all 50 states and the District of Columbia, using Internal Revenue Service data to compare tax returns from 2019 and 2020….