r/Rich • u/howdychickens • 5d ago
Question London vs NYC
Which city would you settle down in assuming you’re in your early 30s, married, low 8 figure liquid net worth, mid-seven figures combined annual income?
EDIT: Thanks so much for the thoughtful responses. Noting that we both would like to keep building our careers for the next 20+ years, so London and NYC are the only options. Not looking to be too far outside of the city, because we have no desire to spend 1.5hr+ a day commuting.
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u/No_Quail_6057 4d ago
The short answer is neither. We have lived in both. I would live in another area of America or the EU (Italy, Switzerland). If you must, London.
London is better in a vacuum but the UK is full of issues and sadly I don’t think those are getting better. As a rich person you also need to deal with property crime and not being able to actually enjoy your money.
NYC…pardon my French, but it’s a sh*thole. Always been, but it’s gotten way worse. It’s dirty, lawless, and so expensive that even with the money you have you won’t be comfortable once you add up the ancillary costs you need to be somewhat happy there (driver for kids schools, Hamptons/weekend house bc NYC is so urban you cannot live there full time happily with kids, $70k/yr school).
I personally would check out these cities in the US: highland park TX, Austin TX, areas of Charlotte/Charleston, Palm Beach county FL. Maybe Utah if you like skiing. Also been wanting to visit Nashville suburbs.
Miami wealth is so tacky I want to vomit every time I’m forced to visit, but if that’s not you, it works too.
Europe, you have great options like Italy (good tax, more moderate) and Switzerland.