Spending money is a deeply personal choice, but it can still signal values, needs, and priorities on a larger scale. The team at Qualtrics specifically examined what different generations spend extra money on. In the team’s data, we can see patterns that could show how much extra money different generations have to spend, what conveniences make an impact on them, and how cultural values drive their spending habits.

The team created two visuals; one shows the top three spending categories for Gen Z, Millennials, Gen X, and Boomers. Next, they listed 18 different spending categories and showed what percentage of each generation is likely to splurge on this category. The results are a fascinating generational study!

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The youngest adult generation, Gen Z, struggles with expenses like high-cost housing, student debt, and low wages for entry-level jobs. Gen Z probably has the least money to splurge, but they still find ways to buy treats. 37% of Gen Z said they are likely to splurge on bars and restaurants. This was one of the only spending categories that was unanimous among every generation. It seems everyone wants to skip cooking and enjoy a restaurant now and again.

Millennials, who are in their late twenties to early forties, are most likely to be parents who are balancing busy careers with family life. They’re most likely to splurge on dining out as well, but they’re also uniquely likely to splurge on groceries. This could be attributed to the cost of grocery deliveries through apps like Postmates. Millennials were the first generation to embrace grocery delivery apps, and it might be a helpful time-saving splurge for busy parents and professionals.

Gen X represents people at the far end of their careers and working lives. They’re at the perfect point to have some money to spend on rewards for their lives of hard work. Like every other generation, many said they’d splurge on dining out, but they’re also highly likely to splurge on travel. This makes sense since many members of Gen X are in good health to travel and don’t have the constraints of children to hold them back. They travel solo, with groups, family, or friends.

As for Baby Boomers, the oldest generation, most of them are retired now. Like Gen X, many say they’re likely to splurge on travel to see the places they’ve spent a lifetime dreaming of visiting. They have some splurging habits in common with younger generations, spending extra money on conveniences and necessities like groceries.

The team’s data reflects what different age groups find most important in life and indicates how much money they can use on a splurge. It’s telling that older generations splurge on travel, a high expense that younger generations likely can’t afford. There’s no doubt that we can draw many thought-provoking conclusions from the data we find on these graphics.

People who want to jump into the real estate investment market have an important question to contend with: Which city should they invest their money in? The team at LLC Attorney has arrived with answers in their new study, which condenses tons of information on the real estate market to identify the 50 best cities for first-time investors. Each town has its own unique characteristics, benefits, and setbacks, but as the team proves, they each offer a powerful incentive for real estate investors.

The team started their study by pulling the 100 most populated cities from the Real Estate Investment Index and pinpointing their 50 ideal cities. The towns on their list are affordable, have high rental income potential, and have landlord-friendly laws. To create their list, the team considered state-level laws on rentals, rent-controlled cities, and the job market in each location. Their potential rental income calculations are based on average monthly rent, median home sale price, gross rental yield, and the market temperature. As for landlord-friendliness, the team considered average eviction time, security deposit limit, and rent control laws.

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Out of all 50 cities, the team determined that Port St. Lucie, Florida, is the best city for first-time real estate investors to buy property. This growing city shows no signs of slowing, with median property sale prices lower than other major Florida cities, like Miami and Tampa. The job market in Port St. Lucie is strong in healthcare and education, and business-friendly for entrepreneurs. These factors all combine to represent a city that’s attracting more residents every day. It will be a reliable source of rental income for investors.

Cape Coral, Florida, took the second-place spot for similar reasons. Low property taxes, a growing population, and residents flocking to beaches and parks for seasonal living push up the Cape Coral housing demand and rental potential. The lone midwestern city in the top four is Cleveland, Ohio, drawing in investors with affordable housing and lots of demand because of the strong employers based in this lakeside city. Garland, Texas, comes in fourth with more affordable housing than neighboring Dallas, while still located close to all the dining and entertainment that Dallas offers. Popular Garland employers include FedEx, Interceramic USA, Presbyterian Hospital, and Arena Brands, Inc.

In addition to focusing on the 50 cities the team lists, they suggest that first-time investors look to more seasoned investors for advice. Many expert investors speak at conferences, publish guidebooks, and produce educational videos to share their knowledge. Networking with fellow investors is another great way for new investors to gain support and learn quickly. There are countless networking opportunities on social media and in local groups like your local chamber of commerce. Last, investors need to decide whether they’re looking to buy property close to home that they can maintain themselves, or property far away, in which case they’ll need to hire a property manager. No matter your path, the LLC Attorney team offers a great start with this data.

Retirement is a hard-earned chapter of life where older people can escape the daily grind of a busy workweek to focus on their health, relaxation, and quality time with loved ones. While many potential retirees dream of warm weather and sandy beaches, they’re forced to make plans based on financial realities. Many people want to know where they can stretch their savings the farthest. Each state offers its own charms and advantages, but the team at Ooma presents the real financial situation with a ranking by affordability.

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A Stark Financial Divide

Ooma’s analysis reveals dramatic differences in cost across each statement in America. They’ve determined the minimum savings needed to get by, and the results ranged from a modest $713,000 in West Virginia to a huge sum of $2.2 million in Hawaii. Their research combined nine factors to create the 400-point scoring system. Categories included savings thresholds, assisted living costs, tax burdens, memory care expenses, healthcare expenditures, and home care rates. Combined, this score reflects the true cost of retirement.

We see Hawaii emerging as the most expensive state to retire in by far. Their geographic isolation drives up the cost of living, which is common for island life. Assisted living costs are staggering, too, at $139,807 per year, and memory care reaches $11,000 a month. These costs can suck up retirement savings fast. California was the second-most expensive state, followed by Massachusetts, which both prove how steep the price of a fun lifestyle or premium healthcare can be.

The Budget-Friendly States

At the opposite end of the spectrum lies Mississippi, the most affordable state to retire in. Assisted living costs about $54,943 a year and home care costs about $25 an hour, which creates a great option for budget-conscious retirees. Alabama and Oklahoma are also on the affordable end of the spectrum, combining low living costs with affordable healthcare and tax-friendly policies.

Tax Policy Makes a Powerful Impact

State tax policies create significant cost differences between states that affect basic living expenses. Seven states on the list earned a “very tax-friendly” status due to eliminating most retirement-related taxes. These states were Alaska, Florida, Nevada, Wyoming, South Dakota, Georgia, and Mississippi. These states don’t tax retirement income or Social Security benefits and have minimal property taxes. On the other end of the scale, California, Vermont, Maine, Rhode Island, Connecticut, Minnesota, and Nebraska have the heaviest tax burdens which can eat up to 10.73% of income. These factors can’t be ignored when considering retirement costs.

Considering Healthcare Cost

Healthcare expenses are significant for aging people, and Utah has the most affordable healthcare, while New York has the most expensive healthcare. However, it’s important to consider that price often reflects healthcare quality. Massachusetts, Connecticut, and New York have the most expensive healthcare but are also the highest rated.

Paying for a Lifestyle

Despite high costs, we can see on the chart that some of the most expensive states are the most popular. Hawaii, California, and Florida are the retirement dream for anyone seeking warm weather and beautiful beaches. Luckily, research like the data presented here can help people effectively plan for whatever retirement future they dream of.