Nicole Lappin
speaker
4,192 appearances
114 recordings
2 series
first heard Nov 2024
last heard 9 Dec
Nicole Lappin’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Nov 2025 with 2.
Appearances
Jeff Bezos, as I mentioned, just made this move along with billionaire Carl Icahn, football legend Tom Brady, billionaire hedge fund manager David Tepper and on and on. These celebrities and public figures continue to choose Florida, even though there are states with better tax advantages. Alaska, for example, is widely considered to be the most tax-advantaged state.
But let's be honest here, can you imagine Jeff Bezos moving to Alaska? Like, after the finale of True Detective Night Country? It is hard to compete with the Sunshine State for sure, especially if you're a state that only gets three hours of sunlight during parts of the year.
So even though there are other states with better tax advantages than Florida, I'm going to include it in the top three because it's a really common move for the ultra rich and because it becomes a really interesting test case for the importance of income tax. I'll explain that in just a bit, but for now, let's head west to Nevada.
Similar ish to Florida, the sales tax isn't going to knock your socks off. It's just under 7%. But Nevada has the fourth lowest property tax rate in the country, which is a big deal. I know that so far this has been pretty abstract, so let's take a look at what it would be like to actually live in these states.
And let's compare and contrast with my home state of California, because here on Money Rehab, we face our finances head on. Let's imagine you own a $400,000 home and you're making 70K a year. What are our state rankings when we're looking at property taxes? Nevada is the champion where you'd only owe $2,200 in property taxes. Wyoming is a close second.
There you'd owe a little over $2,400 in property taxes. In California, you'd be paying $3,000. And in last place, Florida, where you'd be paying just about $3,300. So far, we're not seeing that much tax love, right? Nevada is the winner. Florida is the loser. And my home state of California, not looking so bad. But wait for it. Now we're going to add that layer of income tax.
At $70K a year, you're going to owe around $8K in federal taxes. So across all of our state examples, we're going to bump our take home pay down to $62,000. Then the state taxes. In California, state taxes on 70K could be around three grand. So the take-home pay of $62,000 gets cut down to $59,000. But in Wyoming, Nevada, and Florida, nothing, nada, zippo, zilch. No more income tax.
You're just staying there at 62K. So now let's look at the take-home pay after income taxes and property taxes. And that gives us the final rankings of First place, Nevada, where your take home pay would be $59,800. Just barely behind Nevada. Second place, Wyoming, where your take home pay would be $59,560.
Florida, which last time we checked was in last place, gets bumped up to third place with a take home pay of about $58,700. And yep, in very last place, my home state of California, where I would get a take home pay of $56,000. almost 4000 bucks less than what I would have gotten if I lived in Wyoming. Let's circle back to that moment.
I said that Florida was a good case study for the importance of income tax. Remember when I said that Florida didn't have a lot of tax perks beyond just nixing state income tax? And when we did the math for property tax, California actually had better rates than Florida.
Well, even though both of those things are true, the absence of state income tax is so significant that it ultimately outweighs the benefit of lower property tax in California and makes Florida the more tax savvy place to live.
So yeah, I do love living in California and it makes all the sense in the world for my career because there are more television studios in Los Angeles than there are in Nevada. But there is a parallel universe where Mama Money Rehab is living large in Las Vegas and she's keeping four grand more in that scenario than Mama Money Rehab is in this universe. The side.
For today's tip, you can take straight to the bank. If you're at a crossroads, as we so often are in life, and you're choosing between two states, choose the one that gets more tax love. I promise it's going to pay off big time. Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Levoy. Our researcher is Emily Holmes.
Do you need some money rehab? And let's be honest, we all do. So email us your money questions, moneyrehab at moneynewsnetwork.com to potentially have your questions answered on the show or even have a one-on-one intervention with me. And follow us on Instagram at Money News and TikTok at Money News Network for exclusive video content. And lastly, thank you. No, seriously, thank you.
Thank you for listening and for investing in yourself, which is the most important investment you can make.
I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab. After some really messy economic headlines for the last month, which has really felt more like a decade, we might actually have some good news ahead, which is awesome.
So to break it down, I'm joined by Ryan Dietrich, the chief market strategist at Carson Group, whose voice you might recognize from his many, many, many features on CNBC. Today, Ryan shares some signs that he's seeing in the market that nearly always indicate there is good news ahead. Yay. And whether this time could be different. Ryan Dietrich, welcome to Money Rehab.
I wish. I kind of like want a little bit of boring in my life right now. That would be a welcome change.
We do. We've been seeing some bullish signals lately. So let's start with an easy one. The S&P 500 was up one and a half percent three consecutive days. OK, S&P, what does history tell us about that? Is that a good indication of momentum?
Okay, so we're going to double click on the breath rust business and breath with D-B-R-E-A-D-E-T-H. But before that, you mentioned short covering. If somebody doesn't know what that is, can you just quickly explain that when we turn positive, sometimes people will say, well, those are, you know, people covering their shorts.
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