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Nick Wallace

Personal Finance Expert

Nick Wallace studied Economics at the University of Washington. He enjoys getting people thinking about finances by looking at the numbers. Nick is a freelance journalist and data analyst living in Michigan. He still lends his economic and analytic expertise for SmartAsset's studies.

Posts by Nick Wallace:

by Nick Wallace May 11, 2016

There are currently about 29.5 million teenagers in the U.S., according to the Census Bureau. That’s a lot of teenagers! In comparison, there are about 28.5 million U.S. residents over the age of 70. What do those teens do? Roughly one out of six of them work – about 4.6 million, according to the Bureau of Labor Statistics. Many more would like to work, but can’t find a job. (The teen unemployment rate is 16%.) Most are enrolled in school – middle school, high school or (for some) college. Read more

by Nick Wallace May 10, 2016

Ahoy matey! Thinking about buying a boat? Join the armada. According to the U.S. Coast Guard’s National Recreation Boating Survey, there are nearly 22.3 million recreational boats in the United States. Those vessels range from one-person kayaks up to 200-foot mega-yachts. They can be found adrift on calm lakes in the Midwest or sailing through high seas off the coast of Alaska. Some are used for fishing, others for water-skiing, others for bird-watching. Some are pretty much just meant for throwing huge parties. Read more

by Nick Wallace Feb 20, 2020

As the baby boomer generation ages into their 60s and 70s, the number of retirees in the United States is going to increase. So too will their economic sway. Many retirees, no longer anchored to a city or region by their job, choose to pack up and leave. Some seek a lower cost of living. Others want beautiful scenery, warm weather or both. Some are looking for lower taxes on their retirement income. Read more

by Nick Wallace May 03, 2016

What does your dream house look like? For some, it must include a swimming pool. Others want a 10-car garage to fit their collection of Lamborghinis. Those who prefer the urban lifestyle might opt… Read more

by Nick Wallace Oct 18, 2018

The middle class is shrinking. According to a 2015 analysis by Pew Research, for the first time in recent history less than half of American households are part of the middle class, with greater… Read more

by Nick Wallace Sep 20, 2018

According to the Bureau of Labor Statistics, the unemployment rate for workers with a Bachelor’s degree averaged just 2.8% in 2015. That is much lower than the overall rate of 4.3% and it means that… Read more

by Nick Wallace Sep 21, 2022

Denver has been one of the country’s fastest-growing big cities in recent years and it’s easy to see why. Located along the Rocky Mountain Front Range, the Mile High City is surrounded by beautiful… Read more

by Nick Wallace Apr 20, 2016

Many of America’s largest cities are facing an affordable housing crisis. In particular, some cities on the West Coast and in the Northeast have seen skyrocketing rental rates and home prices in… Read more

by Nick Wallace Jan 13, 2017

In 2016 it’s hard to fall over in a U.S. city without hitting a coffee shop. Thanks in part to chains like Tully’s, Dunkin Donuts, Caribou Coffee and Starbucks, the amount of coffee shops across the… Read more

by Nick Wallace Apr 13, 2017

Americans are more concerned about the environment than ever before. In a Gallup poll released earlier this year 64% of respondents said that they worry about global warming a “fair amount” or a … Read more

by Nick Wallace Apr 10, 2017

Is the American Dream making a comeback? After the housing crisis last decade, many people questioned the legitimacy of homeownership as a means of building wealth and providing economic security.… Read more

by Nick Wallace Apr 10, 2017

Being a parent is a full time job. Nonetheless, on top of the substantial energy required to raise a child, most parents in the United States are also employed. According to the Bureau of Labor… Read more

by Nick Wallace Aug 10, 2018

Medical science has made enormous strides over the past century. Antibiotics, vaccinations and other treatments have all but eliminated many illnesses that once claimed thousands of lives each year.… Read more

by Nick Wallace Aug 20, 2018

Seattle is a city unlike any other. Nestled between the Cascade and Olympic Mountain ranges, along the shores of the Puget Sound and Lake Washington, its natural beauty causes many who visit to wish… Read more

by Nick Wallace Mar 29, 2017

What’s your ideal retirement? For the couch potatoes among us, it probably involves lots of big books, television shows and classic movies. Beach bums might envision a spot in the sand with a cool… Read more

by Nick Wallace Mar 16, 2016

Google search traffic has been shown to be a useful tool for measuring the interests and concerns of the general public. For example, it has been used to predict both unemployment claims and retail… Read more

by Nick Wallace Apr 05, 2017

In the wake of the housing crisis last decade, homeownership rates declined markedly. In 2005, more than 69% of American households owned the home they lived in. Today that rate is just 64%. The… Read more

by Nick Wallace Mar 09, 2016

According to the U.S. Department of Transportation, as of 2012 there were at least 8.4 million registered motorcycles in the United States (a number that has likely risen in the past four years as… Read more

by Nick Wallace Mar 08, 2016

Most people don’t love having a boss. Bosses tell you what to do and they berate you when you screw up. According to a 2015 Gallup survey, half of all U.S. workers have at some point in their careers… Read more

by Nick Wallace May 21, 2022

Any New Yorker will tell you that NYC is the greatest city in the world, with better food, better entertainment, and, well, better everything than anyplace else on the planet. But it takes some… Read more

by Nick Wallace Mar 02, 2016

The United States is a global leader in many regards, but when it comes to education it seems there is room to improve. According to the OECD, U.S. schools rank 28th in the world based on student… Read more

by Nick Wallace Feb 21, 2018

The homeownership rate among young people has been declining steadily in recent years. In 2005, 43% of adults under the age of 35 owned a home. Today that rate is just 35%. There are a number of… Read more

by Nick Wallace Sep 20, 2018

Women in the U.S. tech industry have long faced major disparities in both employment and pay. Last year, SmartAsset’s analysis of Census Bureau data found that women hold less than 26% of tech jobs… Read more

by Nick Wallace Jun 17, 2019

According to the Texas A&M Transportation Institute, the average auto commuter in the United States spends 42 hours per year in traffic. That same study puts the price tag of those delays at $960 per… Read more

by Nick Wallace Mar 08, 2017

Higher education is always a big topic in election years. Candidates of all political stripes readily agree that our colleges and universities are a key driver of prosperity but that there are… Read more