Associate degrees offer students flexibility to achieve different educational and vocational goals. They usually take half the time of a bachelor’s degree and could help you meet the academic requirements for many entry positions into a career. Community colleges that offer associate’s degrees are often a more affordable option for students. However, education can still… read more…
According to the Census Bureau, the median income in the U.S. is around $75,000, with Millennials earning higher than average at roughly $84,000 annually. But many Millennials eclipse the median, with some households bringing in more than $200,000 per year – earning the classification of “high earners” per the IRS. These Millennials in particular have… read more…
Through their service, veterans earn certain benefits for home buying not available to the general population, including special loans facilitated by the Department of Veteran Affairs (VA). These VA loans can enable prior service members to purchase homes more easily than with a conventional or even FHA loan – often with a 0% down payment. … read more…
The top 1% of earners typically pay much more in taxes than many other Americans. Nationwide, this group contributes 45% of total personal income taxes collected. However, the top 1% doesn’t pay the same amount everywhere. Therefore, some states may be more dependent on this group than others for tax revenue. With this in mind,… read more…
Many affluent young people often relocate for better jobs, lifestyle upgrades and tax advantages, as well as new experiences, friendships and relationships. This can have an outsized effect on local economies and politics, specifically housing, employment and voting, among other important factors. With this in mind, SmartAsset used IRS data to rank states by the… read more…
Safety is a key factor when choosing a neighborhood to buy a home. It can increase demand and drive up property values. Homebuyers can measure how safe a community is by comparing the reported rates of violent crime, property crime, motor vehicle deaths, drug overdose deaths and excessive drinking, among other common indicators, in different… read more…
Gen Z is currently in the most difficult position of generational cohorts for buying homes. Low on the career ladder compared to their Millennial and Gen X counterparts, and without much time in the market for investments to compound, more affordable areas may trump locations favored by older generations, making way for a new wave… read more…
When high earners move, they take their money with them. And because their budgets are much larger than most of the population, they can have an outsized effect on the local economy. Thus, states that attract high-earning households can gain an economic advantage over others. Many factors could drive high earners to move across state… read more…
Each person’s financial circumstances and goals are unique, just like the advisors who may be able to help them make and execute plans. Naturally, clients and advisors alike may seek specific characteristics, specialties and needs in each other to reach their goals or objectives. Location may be one key preference, with some clients favoring remote… read more…
The U.S. median income is around $75,000, with half of Americans earning less than that. High-income earners, on the other hand, can make 10 times that – or more. And this top 1% also makes up a disproportionately large part of the tax base, with their incomes generally putting them in the highest federal tax… read more…
Millennials, born between 1981 and 1996, have positioned themselves as the largest cohort of homebuyers, outpacing both Baby Boomers and Gen Z. While many are purchasing homes to start or grow families, others are building equity or simply escaping rising rental costs. But the leap to buying a home can be easier or harder depending… read more…
Small cities may offer cost benefits for residents looking to stretch their income while enjoying a comfortable – and more spacious – lifestyle. While livability is a subjective concept that may take on different definitions for different people, some elements of a community can come close to being universally beneficial. Housing affordability, the spread of… read more…
Like other professions, financial advisors are affected by many factors, including location, income, client preferences and specific market characteristics. So, where an advisor earns the most can change over time, and even more so as technology allows them to work remotely with a greater number of clients in different markets. With this in mind, SmartAsset… read more…
While the median sale price of U.S. homes is just shy of $421,000 in Q1 2024, homes in some areas more than doubled that average. These expensive places may prevent hopeful first-time homebuyers from investing in the area, making renting – or even moving to a less expensive area – a better alternative. In some… read more…
After an all-time run up of over 7,500%, Chipotle Mexican Grill ($CMG) stock will split 50:1, taking effect as of market open on Wednesday, June 26, 2024. The split will make the stock more affordable for investors, who currently face a price of more than $3,200 for one share of the company. Here’s what investors… read more…
Tesla’s annual shareholder meeting took place June 13, 2024. Elon Musk talked to shareholders about the company’s future and progress on real-world AI, electric vehicles, energy and more. Most notably, shareholders ratified a 2018 performance-based compensation packaged for Musk that had recently been voided in a court case in Delaware. This had more than $50… read more…
Despite cooling inflation, homes across the U.S. in April sold at prices averaging 6% higher than a year before. This indicates demand for homes is still strong, while the supply of inventory underwhelms. While this market could favor those who are looking to sell their homes and move to a less expensive area, hopeful first-time… read more…
Jobs and other incentives have driven people in and out of cities for decades. But local economies can also be affected by birth rates and the size of families. From medical facilities and schools, to other institutions and businesses, these two factors can influence both job and housing markets. With this in mind, SmartAsset examined… read more…
Supporting a larger household generally increases overall costs. But thanks to economies of scale, the cost per child decreases when having more than one child per family. Additionally, if one parent stays home to care for the children, families can potentially save a significant amount on childcare and other expenses. Despite these general trends, the… read more…
Understanding the costs associated with raising a child is essential, not only for personal financial planning but also for shaping public policies that support family well-being. On average, it costs $25,181 per year to raise a child in a large U.S. metro. But the costs for childcare, additional housing, food, medical necessities and other expenses… read more…
New technology, legislation, resources and other economic factors can quickly influence supply and demand for different occupations. In turn, this can affect the level of pay workers receive – and the level of employment in that career path. To find which professions had the highest increases in pay year over year, as well as those… read more…
When it comes to two working parents raising one child, the median annual cost across all states is $22,850 – but the range of costs from state to state can vary and even be much higher. In fact, it costs twice as much in some states when compared with others. With this in mind, SmartAsset… read more…
Converting a large sum like $865,000 to a Roth IRA is a strategic move for long-term tax benefits – including tax-free retirement income and eliminating required minimum distributions (RMDs) – but it often comes with a hefty upfront tax bill. The transition from a traditional IRA or 401(k) to a Roth IRA means paying taxes… read more…
Nvidia ($NVDA) stock will undergo its sixth stock split with shares trading at one-tenth the price starting June 10, 2024. Before the Q1 2024 earnings call on May 22, 2024 when the split was announced, NVDA closed at $949.50. Since, the stock has reached all-time highs, breaching the $1,150 mark. While the split price will… read more…
Financial advisor income largely depends on the number of clients and their net worth. So as taxes, jobs, cost of living and other factors draw both clients and advisors from one place to another, how much a financial advisor earns in a local area might also change. To determine the latest income and employment trends… read more…