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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 Apr 25, 2018

These days having a college education is not enough to ensure a financially secure future. According to data from the Census Bureau, over 30% of Americans over the age of 25 have a bachelor’s degree or a graduate degree. That means college graduates looking to get a professional edge need to move to the right cities. Cities that have plenty of jobs, low mortgage costs and a variety of entertainment options are good fits for new college grads.  Read more

by Derek Miller Apr 19, 2018

Over 80% of renters have a desire to own a home, according to a 2015 survey from the National Association of Realtors. One big hurdle for many renters who are hoping to buy a home and take on a mortgage is saving for a down payment. In some cities, the average home is worth so much more than the average income it can take over a decade of saving to have enough for a down payment. Below we rank the cities where the average workers need to save the longest to afford a down payment. Read more

by Derek Miller Apr 18, 2018

Nearly 83% of renters have a desire to own their home, according to a National Association of Realtors poll. However with mortgage costs on the rise, it is difficult to switch from renting to buying. And buying a home can be even more difficult if you are single. However, there are some places where singles are bucking the renting trend and buying homes. Below we look data to find the cities with the highest single homeownership rate. Read more

by Derek Miller Jun 26, 2018

In 1948, only 32% of women were in the official labor force, according to the Federal Reserve Bank of St. Louis. As of February 2018, that number had almost doubled to 57%. Today in some American… Read more

by Derek Miller Apr 11, 2018

The Bureau of Labor Statistics reports that in 61% of two-parent households, both parents work outside the home. But not all cities are equally suited for this family structure. In some cities,… Read more

by Derek Miller Jul 12, 2018

The gender pay gap has slowly been closing over the past decade. The Census Bureau estimates that in 2016 the average full-time employed woman earned 80.3% of what her male counterpart earned. In… Read more

by Derek Miller Apr 04, 2018

New York real estate has an estimated market value around $1.26 trillion as of 2018, according to the New York Department of Finance. Some New York neighborhoods are more popular than others, putting… Read more

by Derek Miller Apr 04, 2018

Nearly 17 million people competed in 30,400 U.S. road races in 2016, according to data from Running USA. But for Americans who are truly passionate about getting their daily steps in, not all cities… Read more

by Derek Miller Mar 28, 2018

Americans sold 612,000 homes in 2017 and 44,000 in January 2018, according to data from the Census Bureau. For most home sellers, selling your home at a profit is likely one of your goals. Location… Read more

by Derek Miller Apr 02, 2018

Few things are more frustrating than trying to get in touch with your bank when something has gone wrong with your checking account or savings account. But when handling bank account-related problems… Read more

by Derek Miller Mar 20, 2018

Around 4% of Americans name hockey is their favorite sport to watch, putting it in fifth place behind football, basketball, baseball and soccer. So while hockey may not be America’s favorite pastime,… Read more

by Derek Miller Mar 13, 2018

In some housing markets across the country it may feel like you need to be a millionaire just to buy a home. This is truer in some cities than in others, like San Francisco where Census Bureau data… Read more

by Derek Miller Mar 13, 2018

Financial advisors can be a great resource for helping people hit their financial goals, whether they are saving up to buy a home or preparing for retirement. In some cities across the U.S., there… Read more

by Derek Miller Mar 21, 2018

People buy second homes for a variety of reasons. Some people buy a beach home as a place to get away during the winter months, others buy a place next to their favorite mountain to enjoy the slopes.… Read more

by Derek Miller May 07, 2018

It’s hard to overstate the value of an education. According to Census Bureau data from 2016, the average worker with a bachelor’s degree earns $51,600 per year. That is roughly $22,000 more than the… Read more

by Derek Miller Feb 28, 2018

Before the recent tax bill was passed, there was some discussion around lowering contribution limits on retirement accounts. While no changes on contribution limits made it to the final version of… Read more

by Derek Miller May 21, 2018

The cost of raising a family continues to rise. The United States Department of Agriculture (USDA) estimates that raising a child born in 2015 costs $233,610, from birth to age 17. After accounting… Read more

by Derek Miller Feb 22, 2018

Women are consistently paid less than men for the same work, according to data from a variety of sources, including the Bureau of Labor Statistics and the Census Bureau. Additionally, women are often… Read more

by Derek Miller Jul 09, 2018

The average financial advisor makes $123,100 per year, according to the Bureau of Labor Statistics. That is about 2.5 times more than the average U.S. worker. But being a financial advisor is about… Read more

by Derek Miller Feb 14, 2018

Hollywood and New York City probably come to mind when you think about the places with the most million-dollar earners. While location plays a part in how much money you earn, there are other factors… Read more

by Derek Miller Feb 07, 2018

Does it feel like most of your paycheck goes to covering rent? You’re probably not alone. Data from the Census Bureau shows that over 46% of American renters are housing cost-burdened. But the scale… Read more

by Derek Miller Mar 16, 2018

Saving for retirement is tough. Between paying rent or a mortgage, combined with credit card debt, or maybe student loans, finding a few spare dollars to contribute to a retirement fund is difficult.… Read more

by Derek Miller Feb 05, 2018

In the past SmartAsset has analyzed gender income inequality through the lens of earnings. As of 2016, the Census Bureau estimates that the average full-time working female earns 80% of what the full… Read more

by Derek Miller Jan 31, 2018

For most people, the only fun part of doing your taxes is getting your tax refund. Not everyone receives a refund. Technically speaking, tax refund is money you overpaid in taxes, meaning it was… Read more

by Derek Miller Jan 30, 2018

Millennials, for the most part, are a generation of renters. Only 34.7% of Americans under the age of 35 owned their homes as of 2016, according to a Census Bureau survey. But that’s not always by… Read more