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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 Jun 07, 2016

Feeling stressed out? You’re not the only one. A 2014 study by the Robert Wood Johnson Foundation and the Harvard School of Public Health found that half of all American adults dealt with a major stressful event over the prior year. And that doesn’t even consider the cumulative effect of the smaller daily stresses of modern life, such as credit card bills, children, mortgage payments and (ugh) keeping up with social media. Read more

by Nick Wallace May 25, 2016

Over the past several years cities such as Seattle, San Francisco and Los Angeles have opted to enact their own minimum wage laws in lieu of increases at the state or federal level. Part of the logic behind these increases is that living costs in cities are higher, making it harder to survive on a low income. An hourly wage that may be adequate to pay for basic expenses like housing and food in rural areas may fall short for people who live within city limits. Read more

by Nick Wallace Nov 12, 2017

Most people, when buying a home, will look not just at the house itself but at the block, the street, the neighborhood and the city. Are there parks nearby? How safe is the neighborhood? What is the commute like? Is there access to public transportation? And what about the schools? These are typical questions to ask, but one thing many people may forget to consider is the availability of healthcare providers in the area. Read more

by Nick Wallace Mar 01, 2018

It’s called a worktirement and it’s becoming increasingly common. Instead of leaving the workforce entirely sometime in their 60s, many seniors are continuing to work (at least part-time) well into… Read more

by Nick Wallace Jul 24, 2015

What if the Denver Broncos became the Bridgeport Broncos? Or LeBron’s Cavaliers played their home games in Riverside, California? Denver and Cleveland fans: calm down – this isn’t going to happen.… Read more

by Nick Wallace Jun 29, 2016

Jobs in science, technology, engineering and mathematics (STEM) represent some of the best opportunities for workers in today’s economy. The work can be rewarding as well as coming with high pay and… Read more

by Nick Wallace Jun 29, 2016

Home appreciation is generally considered a good thing. It means more equity for homeowners, and a bigger payout when the time comes to sell. But as we learned during the financial crisis, when home… Read more

by Nick Wallace Sep 20, 2018

A thriving creative class is a key feature of nearly every successful modern city. A vibrant culture is not only valuable in its own right, it also often serves to attract and inspire talented… Read more

by Nick Wallace Aug 30, 2017

In the United States, homeownership is often seen as an important financial stepping stone. Owning a home can provide stability and a means to accumulate wealth as (and if) home values appreciate.… Read more

by Nick Wallace Feb 28, 2018

Residents of the United States enjoy a quality of life that is among the highest in the world. The U.S. consistently ranks in the top 10 of the OECD’s “Better Life Index,” which compares countries… Read more

by Nick Wallace Sep 20, 2018

Do you have a cool million dollars sitting in your retirement account? If not, you probably need to keep saving if you’re planning on retiring in one of America’s largest cities. Thanks to the rising… Read more

by Nick Wallace May 25, 2016

According to the U.S. Department of Housing and Urban Development (HUD), a household that spends over 30% of its income on housing is considered “cost-burdened” and could find themselves under… Read more

by Nick Wallace May 09, 2019

Thinking about moving to Seattle? Seattle has been one of the fastest-growing big cities in the U.S. since 2010, and it’s expected to add nearly 200,000 more people over the next 20 years. This… Read more

by Nick Wallace May 27, 2015

The healthcare industry is one of the fastest growing in the U.S., adding over 360,000 jobs between March 2014 and March 2015. That’s about 30,000 per month. As demand for healthcare professionals… Read more

by Nick Wallace Feb 03, 2017

Traveling on a budget can be tricky and all the more so if you have children. While most of us would love to fly to Paris for the holidays or spend a few weeks in Australia this summer, those… Read more

by Nick Wallace Feb 20, 2018

Since it began operating in 2008, Airbnb has shaken up the hospitality industry, and reports are that it could soon be valued at over $20 billion. That’s nearly as much as Marriot International. With… Read more

by Nick Wallace May 09, 2019

If you’re headed to San Francisco, make sure you have plenty of extra change to spare. Thanks to skyrocketing home prices and an increasingly competitive rental market, the City by the Bay is… Read more

by Nick Wallace May 20, 2015

In 2014, total U.S. sales of plug-in electric vehicles (EVs) hit 118,000. This was a 27% increase over 2013 and the first time in history that electric vehicle sales have reached six figures. While… Read more

by Nick Wallace Apr 04, 2018

Between 2007 and 2011, 81 of America’s 100 largest urban housing markets saw prices decline at least 10%, with over half of those markets experiencing a decline of at least 20%. That, in short, is… Read more

by Nick Wallace Apr 20, 2015

How far can the housing recovery take us? That’s the big question for 2015. Could prices once again reach the historic highs of early 2007, just before the housing crisis? In 2013, with the economic… Read more

by Nick Wallace Feb 28, 2018

By almost any measure, income inequality in the United States has grown steadily over the past few decades. According to a recent study by the Economic Policy Institute, between 1979 and 2012 the top… Read more

by Nick Wallace Apr 26, 2016

The benefits of a college degree are well-established. Unemployment is consistently several percentage points lower for workers with a bachelor’s degree than it is for those whose education ended… Read more

by Nick Wallace May 09, 2019

It’s no secret that living in New York City is expensive. Before the average NYC resident’s paycheck even reaches the bank, they’re shelling out some of the highest income taxes in the country.… Read more

by Nick Wallace Apr 01, 2015

Life insurance can be very expensive—but it doesn’t have to be. If you take advantage of all of the resources available to you, consider a variety of life insurance companies and settle on a policy… Read more

by Nick Wallace Aug 16, 2018

According to the non-profit Tax Foundation, the average effective income tax rate for all U.S. households is 18.1%. That is lower than the highest marginal rate paid by most year-round workers, (at… Read more