In one way or another, we’re all chasing some form of luxury life. Whether you envision yourself becoming a CEO, sending your kids to private school, or living in the mansion of your dreams – you probably have some goals that revolve around a healthy financial standing.
There are obvious factors that contribute to your success or failure towards these goals: career growth, spending and investing habits, accumulation of loans and debt, etc. But did you know that your location can have significant impacts?
A recent study published by Coventry Direct took a deep dive into socioeconomic factors and disparities across the U.S. From this, they determined which cities are the ‘most trust-funded’ in the nation. Here’s the top five:
Los Altos Hills, CA
The wealthiest city in America lies in the Silicon Valley metro area, with a wealth score of 43 out of a possible 50. Nearby cities San Francisco and San Jose also made the list of top 20, ranking at 10 and 15 respectively.
If Los Altos Hills isn’t your speed, you can travel to the second richest U.S. city without ever crossing state borders. The median annual household income here is over $140,000 – over double the national average of roughly $60,000.
The Golden State isn’t the only one to offer up lavish lifestyles. Winnetka – located in the Chicago metro area – claims third place for the most trust funded city in the country. Here, roughly 12,300 students are enrolled in private schools per capita (the 7th highest city private school enrollment rate in the country).
Lake Forest, IL
Just a 25-minute drive up the shore from Winnetka is Lake Forest. Similarly, to its neighbor city that made the list, it has high private school statistics with 10,300 students enrolled per capita. Lake Forest earned an overall wealth score of 37.9 out of 50.
Chevy Chase, MD
And if you want to live the DC lifestyle without the DC headaches, Chevy Chase might be just the place for you. This Maryland city employs 110 Chief Executive Officers per capita, meaning you’ll be in good company if you’re looking to take your career to the next level.
The big picture of this report shows that there are cities scattered across the nation where people thrive financially and often climb into the top 1%. While there may be pocketed areas in California or Chicago, no matter where you are in the U.S. you’re probably not too far from one of the ‘most trust-funded’ cities in the country.