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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 for Advancing Business Editing and Writing. 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 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 overhaul, Americans could deduct state and local taxes, including income and property taxes, from their federal income taxes. Under the new tax law, that deduction has been capped at $10,000. This change will disproportionately affect residents who pay high state and local taxes. Read more

by Derek Miller Aug 21, 2019

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, require an extended hospital stay or total your car. If you have the right-sized emergency fund, you can get through those emergencies without having to take out costly loans which will hurt your savings account in the future. 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 increased in value by $10,500 between 2015 and 2016. That’s only an increase of around 5% but for the average household in America, which took home $57,617 last year, an extra $10,500 would be worth 18% of their annual income. Read more

by Derek Miller Dec 21, 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 Aug 21, 2019

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 Sep 19, 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 Sep 17, 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 Sep 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 its 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 Sep 06, 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 Sep 06, 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

by Derek Miller Jul 02, 2018

The average home increased in value from $194,500 in 2015 to $205,000 in 2016, according to U.S. Census Bureau data. That is an impressive return of nearly $11,000, or about 5%, for American… Read more

by Derek Miller Jun 11, 2018

Millions of American families struggle to pay mortgage payments. According to U.S. Census Bureau data, nearly 7 million American households were severely housing cost-burdened in 2016, meaning they… Read more

by Derek Miller Jun 12, 2018

The U.S. ranked as the 18th-happiest country in the world in 2018, according to the World Happiness Report, released by the Sustainable Development Solutions Network for the U.N. That’s down four… Read more

by Derek Miller Aug 14, 2018

Some cities are more famous for their creative histories than others. For example, Nashville and New Orleans are practically synonymous with their rich musical traditions. Los Angeles is known as the… Read more

by Derek Miller May 15, 2018

From 2012 to 2016, the median home in the U.S. increased in value by roughly $33,000, from $172,000 to $205,000. That is great news for all the homeowners in the country. However those home… Read more

by Derek Miller Jul 09, 2018

Many renters don’t enjoy living with roommates, but in order to live alone you need to find an affordable home. This can be challenging, especially with rents on the rise across the country. However,… Read more

by Derek Miller Sep 20, 2018

Despite no longer working, retirees are an important part of a local economy. They number in the millions and make up a large amount of consumer demand. As one example of their purchasing power, the… Read more

by Derek Miller Jun 25, 2018

It is difficult to come up with any one definition for the American Dream that every American will agree on. But certainly for many people, it includes homeownership, economic opportunity and diverse… Read more

by Derek Miller May 07, 2018

The largest purchase most Americans will make in their life is their home. With so much on the line buying a home can be a stressful and difficult process, especially for first-time homebuyers.… Read more

by Derek Miller Oct 10, 2019

In order to know how much you need to save for retirement you need to have a good estimate for how much you will be spending. But predicting how much you are going to be spending in retirement is… Read more