Get That Money, Honey: Top 10 Cities For Building Wealth
When it comes to establishing wealth, not all cities are created equally and according to Bankrate, the size of a city doesn't necessarily mean that it's the area most conducive to stacking those coins.
In a newly published survey, the financial services institution ranked the 18 largest metro areas in the United States by their wealth-building qualities according to the following standards:
After-tax, savable income: This is what’s left over after taxes and necessary expenses. It’s what you could sock away in an interest-bearing account.
The job market: Can workers find jobs at competitive wages?
Human capital: Can residents find educational opportunities to help advance their careers and earn more money later?
Access to financial services: Do people have access to financial products that allow them to invest, save and borrow efficiently?
The local housing market: For better or for worse, homeownership is a key way Americans build wealth. If your local housing market is struggling, it can be harder for prospective homebuyers to get a mortgage and for homeowners to accumulate equity.