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Derek Miller

Mortgage, Retirement and Budget Expert

Derek Miller is a graduate of the University of Edinburgh where he studied economics. He is passionate about using data to help people make better financial decisions. Derek is a Certified Educator in Personal Finance® (CEPF®) and a member of the Society of American Business Editors and Writers. He is a data journalist whose expertise is in finding the stories within the numbers. Derek's writing has been featured on Yahoo, AOL, and Huffington Post. He believes the biggest financial mistake people make is waiting too late to save for retirement and missing out on the wonders of compounding interest. Derek lives in Brooklyn.

Posts by Derek Miller:

by Derek Miller Aug 15, 2018

According to Bureau of Labor Statistics data, the price of college tuition increased by 63% from 2006 to 2016. Over that same time period, the median household income in the United States increased by only 19%. This makes college more expensive than ever for the average family. However, there are efficient ways that you can save for your children’s education. One example is through 529 plans. These are tax-advantaged savings plans designed to help people save money for schooling. Every state has its own plan or set of plans, but they are all a little different and vary in popularity. For example, some are actively managed, utilizing a financial advisor’s technical skills, while others have lower fees and are passively managed. Read more

by Derek Miller Aug 14, 2018

The minimum wage has become a hot topic of debate in the U.S. The fight for $15 has become a popular rallying cry for advocates of a higher minimum wage. And many cities have answered the call, especially those with the highest costs of living. In fact, some cities like Seattle and Belmont, California have gone a step further by planning to extending their minimum wage past $15 per hour. In doing so, they hope to improve the fortune of minimum wage workers’ saving accounts. However, with costs of living rising in step with minimum wage increases, the places with the highest nominal minimum wage may not have the highest real minimum wage. Below we look at the cities with the highest and lowest real minimum wage. Read more

by Derek Miller Aug 14, 2018

Tech jobs are some of the hottest in the country. And the increasingly available opportunities to work in tech deliver high salaries, to boot. But because some of the traditional tech hubs are clustered in the cities with the highest cost of living, like New York or San Francisco, that tech pay may not always go so far. There are, however, plenty of nontraditional tech cities where pay is still high and where workers don’t need to worry about whether or not they can afford their mortgage. Read more

by Derek Miller Aug 14, 2018

In 2016 the IRS reported that it collected nearly $18.3 billion in estate taxes, from more than 5,200 estates. That is an average tax of $3.5 million per taxable estate. While the estate tax is a… Read more

by Derek Miller Aug 13, 2018

How much is higher education worth? Judging by Census Bureau data quite a bit. The average associate’s degree holder earns 18% more than the average high school diploma holder. In dollar terms, that… Read more

by Derek Miller Aug 01, 2018

One of the most important decisions young families make is deciding where to raise their children. Families need to balance priorities like finding a city where they can get an affordable mortgage… Read more

by Derek Miller Aug 01, 2018

The majority of Americans find meeting their retirement goals a challenge. After all, the financial world is complicated. Many Americans miss the opportunity to save, which means they miss the chance… Read more

by Derek Miller Jul 26, 2018

It’s a pretty good time to be a worker in America. For the most part, jobs are available and unemployment is on the decline. But availability of jobs alone does not mean a city is a good place to… Read more

by Derek Miller Jul 26, 2018

Trying to find an affordable apartment is almost a full-time job for renters in America’s largest cities. But the housing crisis ranges in severity, depending on which city you consider. In Columbus,… Read more

by Derek Miller Jul 24, 2018

Just under 70% of U.S. households have a pet, according to the National Pet Owners Survey. It probably comes as no surprise that the survey also found that dogs were the most popular pet for American… Read more

by Derek Miller Jul 19, 2018

State and local taxes (SALT) are a frustrating part of living in a high-tax locale. Before the passing of the Tax Cuts and Jobs Act at the end of 2017, which ushered in sweeping tax legislation… Read more

by Derek Miller Jul 19, 2018

One piece of advice every good financial advisor gives to customers is to build an emergency fund. An emergency fund allows you to weather any unforeseen emergencies, whether you lose your job,… Read more

by Derek Miller Aug 09, 2018

Taking out a mortgage to buy a home can be a great investment (as long as you are buying a home you can afford, of course). Just take a look at the average American home. The median home in America… Read more

by Derek Miller Jul 12, 2018

Millions of Americans attend state fairs across the country every year. From rides and concerts to games and fried food, there’s something for everyone at a state fair. And with rising costs of… Read more

by Derek Miller Jul 13, 2018

The average full-time working woman earns 82% of what the average full-time working man earns, according to BLS data. The good news is that the gender pay gap is shrinking. The bad news is that the… Read more

by Derek Miller Jul 11, 2018

Whether you’re a first-time homebuyer or a grizzled veteran of the home-buying experience, you want to make sure you are taking out a mortgage you can afford. Homes can be good investments and the… Read more

by Derek Miller Jul 23, 2018

Credit card debt can destroy anyone’s finances if it is mishandled. According to data from TransUnion, the average credit card debt holder had $5,644 worth of credit card debt. While that number may… Read more

by Derek Miller Jul 12, 2018

Sometimes renting can be just as difficult as homeownership. The most recent data from the U.S. Census Bureau shows that the average renting household spends 29.9% of their income on rent. Over 10… Read more

by Derek Miller Jun 27, 2018

The average American can expect to live nearly 79 years. That is a full 14 years after the typical retirement age of 65. While many Americans perhaps imagine themselves filling those 14 years of… Read more

by Derek Miller Aug 10, 2018

Homeownership is a hallmark of American society. Data from the Federal Reserve Bank of St. Louis shows that 64.2% of homes in America are owner-occupied, and a Pew Research survey from 2016 found… Read more

by Derek Miller Jun 18, 2018

Whether you are working with a financial advisor or managing a portfolio on your own, making the right investments can make all the difference in your future financial security. Make too many risky… Read more

by Derek Miller Jun 19, 2018

With summer starting to heat up it’s time for families to start planning their summer vacations. This can be a stressful period, especially for families whose budgets are already stretched trying to… Read more

by Derek Miller Jun 20, 2018

Most people are faced with a trade-off when choosing where to live. You could move closer to the city center where most of the jobs are but face a more expensive mortgage and more cramped housing… Read more

by Derek Miller Jun 12, 2018

According to Pew Research Center estimates there are around 71 million millennials in America and they are expected to surpass the number of baby boomers in 2019. That makes millennials a coveted… Read more

by Derek Miller Jul 06, 2018

Across America seniors are putting off retirement and staying in the workforce longer. According to Bureau of Labor Statistics data, the percent of Americans age 65 and over who are still in the… Read more