Is this what kismet is? I’m looking to move back east from Los Angeles next year and this just showed up in my newsfeed that Vermont is going to pay eligible remote workers up to $10,000 to move there. This could be the perfect situation for travelers and online business owners that want a new cheap place to live, or just anyone obsessed with maple syrup and Bernie Sanders.
This has been in the news before, but today S.94 was signed by Governor Phil Scott after it passed by the Vermont House and Senate. If anyone ever watched School House Rock, you know that this bill has now become law! Just sub in the president of the governor when you’re at the state level.
Why is Vermont Paying for Remote Workers?
Vermont is about to be dealing with a big problem their already tiny population getting older. Vermont is only behind Wyoming and Washington D.C. for the smallest population in the United States. They are also in second place for the oldest population in America, behind their close neighbor, Maine.
Vermont hasn’t exactly been the sexy state that college grads brag about moving to start their lives. It sounds pretty morbid, but if Vermont doesn’t do something soon, the majority of the population is going to be too old to contribute to the economy and also too living-impaired to contribute.
They are hoping that offering a stipend to younger tech-savvy remote workers will get the population up and bring some youth to it.
I’m not really sure how they are going to do that with the budget in the new law though. At $5,000 per person/year and a maximum of $125,000 in 2019, that is 25 people. The following year they are allowing 25 more. How do they plan to reinvigorate their economy and population with 50 people? I guess they are assuming they’ll drag along their friends and family?
Why do I Care?
Well, I’m living in Los Angeles right now. The cost of living in LA is way higher than it is in Vermont. For example, the median cost of a home in Los Angeles is $670,200 while the median cost in Vermont is $195,700. I could get this annual stipend and technically get a 3 bedroom house for about the same price as a 1 bedroom apartment in LA. Oh, I have sources! Los Angeles vs Vermont
I’m looking to move back east to be closer to my family and to get away from the caustic entertainment industry I’ve been working in for years. I don’t plan on traveling full time yet, but I’d like a nice place to set up camp for a while that is cheap enough that I can afford to do some more traveling.
I’m also making money online doing various side projects. It’s good enough money to pay for my travel, but in Los Angeles, I still have to work to survive. This side hustle money could go much further in a place like Vermont. I could spend more time working on the side hustle without a “9-5” job. That would continue to grow. I’d finally have a passive income. Then I could travel whenever and wherever I want!