Road Trip!

Knowing what you know about the precarious finances of some states—and seeing the progressive erosion of your individual rights in others—where would you live today if you could live anywhere in America?

Let’s focus on what’s important: your family.

Choosing the right state to live in may never have as great a significance to your family’s future wealth and prosperity as it does today.

But if you let inertia get the best of you, then you won’t give the issue the thought it deserves—or that you deserve, for that matter. Because there may come a time when the opportunity will be gone and you have regrets.

Thinking about relocation is no minor issue. There are questions about leaving family behind, not being able to sell your home, and all the other headaches that come with the decision. But for now all you’re doing is gathering intelligence. There’s no harm in that. You may find you’ll be able to have your cake and eat it too.

The first benefit I see is that the very idea of relocation gets you thinking about the current affairs in your own state. And it helps you get your gears cranking to strongly consider the pros and cons of someday making relocation a reality.

As a plan of attack, I would first look to states with no income taxes. You can see them on Richard Young’s Liberty and Freedom map. Go there first. If you’re a small business owner, then you know your profits are taxed at your income rate, unlike major corporations, which pay the corporate tax rate. Half of all noncorporate revenue comes from a small business like a sole proprietorship, partnership, or subchapter S, according to the IRS. There are a lot of you out there.

Second, if you make the move before your kids, don’t worry—they’ll find you. Better yet, if you move to a right-to-work state, they may even find a job. College grads are moving to where the work is. From 2000 through 2010, right-to-work states realized the fastest growth in their college-educated population compared to forced-union states.

Next up, you want to be able to defend yourself by living in a strong Castle Doctrine state.

Four states make the cut according to the three criteria outlined above: Florida, Texas, Wyoming, and South Dakota. Plan visits to each of them.

Florida’s a big state, so maybe break it up into north and south research trips. South Florida is always a great place to go in the winter months. You might like the Panhandle in the summer.

There’s a lot to like about Texas, even though Rick Perry didn’t exactly make the case for why. For starters, it’s the jobs capital of the country. Your kids might be able to tell you about the music scene there, especially at Austin City Limits.

A customer told me last week that Jackson Hole, Wyoming, got three feet of snow. If you like to ski, it is the place to be this season. Dividing your time between Jackson Hole and your favorite place in Florida has a nice ring to it, doesn’t it?

I remember going to see the Badlands and Mt. Rushmore in South Dakota as a kid one summer. We had a Winnebago and went to most of the national parks. It was a great family vacation. You might have done the same when you were a kid, or plan to in the future. Anyway, it’s a great way to get some history and gather more intelligence on where you may want to live.

Check back regularly for updates to the Liberty and Freedom map, as we’re adding new data all the time.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.

E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.