Translation:Each year I find myself in a different place.
Luogo is more formal according to what I read.
"When they mean "place", "location", there is no difference (luogo is more formal) posto can also mean "(available) space": c'è posto per due persone -> there is space enough for two persons. both can be used to translate the expression "in place of", but they take different forms: al posto di / in luogo di. The second is more formal. "Dare luogo" means to make something happen. "Avere luogo", means to take place."