As part of the SME Spotlight Series for MFC: We are pleased to present Shay Novak and Lendevity:
Shay Novak
President
Shay Novak began his journey in the mortgage industry right out of college. He started out as an assistant to two loan officers, quickly learned the ins and outs of the industry, and got promoted to his own branch. After the market crash, Shay took some time away from mortgages, but he returned a few years later and started working for a company whose values he aligned with. He then obtained his license, and began his job as a loan officer, with dreams of one day starting his own company. Two years later he made those dreams into a reality, and opened up Lendevity—a broker and direct lender company initially based out of his very own garage, which he converted into an office. In their second year, the company was ranked as the 1% originators in the nation.
Lendevity is a wholesale mortgage broker partnered with over 50 highly rated lenders in the nation. Working with a wholesale mortgage broker offers more options compared to the cookie-cutter solutions provided by traditional banks. We have access to a wide range of lenders and loan products, which allows us to tailor solutions to fit the unique needs of each client. This flexibility ensures that we can find the most cost-effective and suitable mortgage options, even in complex situations. Plus, we are able to shop for lower rates on the wholesale lending side, ensuring the best possible deal for our clients.
___________________________________________________________________
When it comes to building wealth, where you live can make a bigger impact than you might think. Taxes, cost of living, investment opportunities, and even estate planning options vary significantly from state to state. For high-net-worth individuals, making a strategic move could mean the difference between keeping more of your hard-earned money—or watching it slowly erode under layers of taxes and expenses.
If you’re considering a move, you’re not alone. According to the latest census data, around 8.2 million Americans relocated across state lines in 2023, with many citing financial reasons as a driving factor.
Let’s take a look at five of the best states for building and preserving wealth, and weigh the pros and cons of each.
(And if you want to run a few “what-if” scenarios based on your specific situation, I highly recommend checking out this handy Retirement Taxes Calculator from SmartAsset.)
Pros:
Cons:
Quick Stat: Florida gained nearly 365,000 new residents between 2022-2023, according to the U.S. Census Bureau — many of them from high-tax states like New York and California.
Pros:
Cons:
Quick Stat: Austin ranked as one of the fastest-growing metro areas in the U.S., with job growth up 4.3% year-over-year as of 2024 (Bureau of Labor Statistics).
Pros:
Cons:
Quick Stat: Nevada ranked among the top five states for inbound moves in 2023 according to United Van Lines’ Annual Movers Study.
Pros:
Cons:
Quick Stat: Wyoming boasts the second-lowest population density in the U.S., offering a rare combination of privacy and financial friendliness.
Pros:
Cons:
Quick Stat: Nashville’s population grew by nearly 15% over the last decade, outpacing most major U.S. cities.
Final Thoughts
Relocating isn’t just about picking the place with the lowest taxes—though that’s a huge piece of the puzzle. It’s about finding a state that aligns with your lifestyle, your business goals, your estate planning strategies, and your long-term vision for wealth preservation.
Before making a move, it’s smart to run a few financial simulations using tools like SmartAsset’s Retirement Taxes Calculator to see how different states could impact your bottom line.
And, of course, it never hurts to have a trusted financial planner—and mortgage advisor—help you map out the path that best supports your future.
