26:["$","$L27",null,{"category":"$28","relatedArticles":[{"id":"cG9zdDo1NTc3Mg==","databaseId":55772,"postId":55772,"author":{"node":{"id":"dXNlcjo1MA==","databaseId":50,"userId":50,"avatar":{"url":"https://secure.gravatar.com/avatar/10ca58872f36412ceff58616bb971c22?s=96&d=mm&r=g","size":96,"__typename":"Avatar"},"description":"Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia's work has appeared across the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.","additionalMeta":{"expertise":null,"__typename":"User_Additionalmeta"},"email":null,"firstName":"Amelia","fullName":"Amelia Josephson","lastName":"Josephson","name":"Amelia Josephson","postCount":{"pageInfo":{"offsetPagination":{"total":334,"__typename":"OffsetPaginationPageInfo"},"__typename":"UserToPostConnectionPageInfo"},"__typename":"UserToPostConnection"},"slug":"ajosephson","__typename":"User"},"__typename":"NodeWithAuthorToUserConnectionEdge"},"categories":{"nodes":[{"id":"dGVybTo4OQ==","children":{"nodes":[],"__typename":"CategoryToCategoryConnection"},"databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":{"pageInfo":{"offsetPagination":{"total":38,"__typename":"OffsetPaginationPageInfo"},"__typename":"CategoryToPostConnectionPageInfo"},"__typename":"CategoryToPostConnection"},"slug":"career","ancestors":null,"parent":null,"__typename":"Category"}],"__typename":"PostToCategoryConnection"},"content":"$29","date":"2016-11-04T10:00:42","excerpt":"

\n","featuredImage":{"id":"cG9zdDoxNzAwMTg=","databaseId":170018,"altText":"Pros and Cons of Franchising","date":"2022-11-08T12:59:56","fileSize":34614,"mimeType":"image/jpeg","modified":"2022-11-08T12:59:56","sourceUrl":"https://smartasset.com/wp-content/uploads/sites/2/2016/11/pros_and_cons_of_franchising_1.jpg","__typename":"MediaItem"},"modified":{"datetime":"2023-5-7","readable":"May 7, 2023"},"multipleBylinesByRole":{"editedBy":null,"reviewedBy":null,"writtenBy":null,"factCheckedBy":null,"secondEditor":null,"hideAuthor":null,"__typename":"Post_Multiplebylinesbyrole"},"adTargetingOverrides":{"fieldGroupName":"adTargetingOverrides","pageGroupNewKey":null,"__typename":"Post_Adtargetingoverrides"},"seo":{"canonical":"https://smartasset.com/career/the-pros-and-cons-of-franchising","metaDesc":"Starting a business is always a risk, but franchises present a special set of challenges and opportunities. We break down the pros and cons of franchising.","metaKeywords":"","metaRobotsNofollow":"follow","metaRobotsNoindex":"index","readingTime":5,"title":"The Pros and Cons of Franchising - SmartAsset","__typename":"PostTypeSEO"},"slug":"the-pros-and-cons-of-franchising","status":"publish","title":"The Pros and Cons of Franchising","uri":"/career/the-pros-and-cons-of-franchising","tags":{"nodes":[],"__typename":"PostToTagConnection"},"__typename":"Post","adPageGroupOverride":null,"bylines":{"writtenBy":{"id":"dXNlcjo1MA==","databaseId":50,"userId":50,"avatar":"$2a","description":"Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia's work has appeared across the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.","additionalMeta":"$2b","email":null,"firstName":"Amelia","fullName":"Amelia Josephson","lastName":"Josephson","name":"Amelia Josephson","postCount":"$2c","slug":"amelia-josephson","__typename":"User"},"editedBy":null,"reviewedBy":null,"factCheckedBy":null,"secondEditor":null},"category":{"id":"dGVybTo4OQ==","children":"$2f","databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":38,"slug":"career","ancestors":null,"parent":null,"__typename":"Category"},"isModifiedBeforePublished":false,"contentBlocks":["

Opening a franchise can be a lower-risk way to start a small business, but it’s not for everyone. For one thing, franchisees have to abide by company rules and the terms of their licensing agreements. So if you prefer to be independent, opening a franchise might not be your best bet. However, if you decide to apply to open a franchise, there are a number of hoops you’ll need to jump through to make it a reality.

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What Is Franchising?

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Franchising gives aspiring business owners the ability to buy into a much larger company and become the owner of one or more locations of that business. A franchisee could be one person or a group of people buying into a franchise together. The franchisee agrees to terms with the larger company on how the business will be run, and in turn they receive the right to operate under that company’s name, logo, reputation etc. They’ll also receive marketing materials, a location, supplies and more.

","

Generally speaking, the process of opening a franchise location involves applications, interviews, background checks and more. While this might sound similar to the process of getting a job, the major difference is that franchisees also need the cash to back up their deal. For instance, McDonald’s requires franchisees to have at least $500,000 in liquid assets and pay a $45,000 franchise fee.

","

Below, we break down the pros and cons of franchising for those looking into the process.

","

Pro #1: Franchises come with a ready-made business plan.

","

If you want to start a business but you don’t relish the process of crafting a business plan, choosing what to sell, decorating your store and all the other minutiae involved in setting up an independent shop, buying a franchise might be good option for you. Becoming a franchisee offers a lot of the benefits of starting a small business without some of the start-up headaches.

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Pro #2: Starting a franchise can make it easier to secure financing.

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Some franchised businesses have their own financing arm, meaning that they provide loans for people who want to buy and open a franchise. Now, in-house franchise financing might not always offer the lowest interest rates, and it’s always a good idea to comparison shop. But if you think you might have a tough time getting a traditional small business loan from a bank, going the franchise route can be a good work-around.

","

Pro #3: Franchises are less risky than independent businesses.

","

If you buy a franchise, you already know that the product is successful. It has brand recognition, for one thing. Assuming the franchise is in a good location and the brand continues to attract customers you should have a pretty solid business on your hands. If you want to be a small business owner but you don’t want to risk a lot of time and capital on a venture that could fail, you might be drawn to franchising.

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Pro #4: It’s easier to get advice about a franchise.

","

","

If you’re considering becoming a franchisee, you can talk to other people who have done the same or read about their experiences online. You can get guidance and learn from the mistakes of others who have opened up branches of the same franchise. Of course, if you open an independent small business you can get general advice, but you’ll have access to more tailored tips with a franchise.

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Con #1: Franchises can come with high start-up costs.

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Starting a franchise might involve higher start-up costs than you would incur if you started an independent small business. If you’re trying to start a small business without taking out a hefty loan or putting a lot of your own capital on the line, becoming a franchisee might not be your best option. Before you commit to one form of business or the other, it’s worth doing a cost comparison.

","

Con #2: You have less flexibility with a franchise.

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When you become a franchisee you have to abide by the rules of the franchisor and keep to the terms of your licensing agreement. You can’t shake up things like the products you carry, the look of your store and the uniforms the staff wear. With a franchise, you have less scope for innovation and for personalizing your business.

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Con #3: Franchise fees can really add up.

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Franchisors don’t let you take their logo and run with it. You’ll owe fees to the business from which you buy the franchise. A portion of each month’s profits will leave your coffers and go to the franchisor, per your licensing agreement. Those fees can add up, which is why it’s a good idea to enlist the services of a lawyer to help you get a good deal on your franchise. If you’re fee-averse, you might decide to forgo a franchise altogether.

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Con #4: The fate of your business isn’t entirely in your control.

","

$\"Pros$

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Franchisees benefit from the brand recognition of the company whose franchise they buy. However, this also makes them vulnerable if the public turns against that brand. Therefore, your franchise is dependent on the current state of the larger company, as opposed to being able to manage your reputation with your own business. Health scares at another franchise branch, corporate scandals and more can all leave franchisees vulnerable and put their profits in jeopardy.

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Bottom Line

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Becoming a franchisee is a good idea for some, and a bad one for others. Before you commit, it’s a good idea to weigh the pros and cons, do your research and seek legal advice. Different franchisors may offer radically different terms and conditions, so it pays to comparison shop.

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Tips for Managing a Business

","$31","

Photo credit: ©iStock.com/PIKSEL, ©iStock.com/kate_sept2004, ©iStock.com/Zerbor

"],"experts":null,"link":"/career/the-pros-and-cons-of-franchising","published":{"datetime":"2016-11-4","readable":"November 4, 2016"},"shareInfo":{"title":"The Pros and Cons of Franchising","origin":"/career/the-pros-and-cons-of-franchising"},"isNewsArticle":false},{"id":"cG9zdDo0NjA2OA==","databaseId":46068,"postId":46068,"author":{"node":{"id":"dXNlcjo0OA==","databaseId":48,"userId":48,"avatar":{"url":"https://secure.gravatar.com/avatar/50102d5e35f225d865b5245a2521bb14?s=96&d=mm&r=g","size":96,"__typename":"Avatar"},"description":"Nick Wallace studied Economics at the University of Washington. He enjoys getting people thinking about finances by looking a 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.","additionalMeta":{"expertise":null,"__typename":"User_Additionalmeta"},"email":null,"firstName":"Nick","fullName":"Nick Wallace","lastName":"Wallace","name":"Nick Wallace","postCount":{"pageInfo":{"offsetPagination":{"total":112,"__typename":"OffsetPaginationPageInfo"},"__typename":"UserToPostConnectionPageInfo"},"__typename":"UserToPostConnection"},"slug":"nwallace","__typename":"User"},"__typename":"NodeWithAuthorToUserConnectionEdge"},"categories":{"nodes":[{"id":"dGVybTo4OQ==","children":{"nodes":[],"__typename":"CategoryToCategoryConnection"},"databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":{"pageInfo":{"offsetPagination":{"total":38,"__typename":"OffsetPaginationPageInfo"},"__typename":"CategoryToPostConnectionPageInfo"},"__typename":"CategoryToPostConnection"},"slug":"career","ancestors":null,"parent":null,"__typename":"Category"}],"__typename":"PostToCategoryConnection"},"content":"$32","date":"2016-03-08T07:00:57","excerpt":"

\n","featuredImage":{"id":"cG9zdDoyMDI2MzI=","databaseId":202632,"altText":"The Best Self-Employed Jobs","date":"2023-05-30T22:05:47","fileSize":138450,"mimeType":"image/jpeg","modified":"2023-05-30T22:05:47","sourceUrl":"https://smartasset.com/wp-content/uploads/sites/2/2016/03/iStock_000045235904_Medium.jpg","__typename":"MediaItem"},"modified":{"datetime":"2023-5-30","readable":"May 30, 2023"},"multipleBylinesByRole":{"editedBy":null,"reviewedBy":null,"writtenBy":null,"factCheckedBy":null,"secondEditor":null,"hideAuthor":null,"__typename":"Post_Multiplebylinesbyrole"},"adTargetingOverrides":{"fieldGroupName":"adTargetingOverrides","pageGroupNewKey":null,"__typename":"Post_Adtargetingoverrides"},"seo":{"canonical":"https://smartasset.com/career/best-self-employed-jobs","metaDesc":"Tired of having a boss? The best self-employed jobs include fields like real estate, brickmasonry and tile setters. Read on for more self-employment ideas.","metaKeywords":"","metaRobotsNofollow":"follow","metaRobotsNoindex":"index","readingTime":6,"title":"The Top 10 Best Self-Employed Jobs - SmartAsset","__typename":"PostTypeSEO"},"slug":"best-self-employed-jobs","status":"publish","title":"The Best Jobs for People Who Want to be Self-Employed","uri":"/career/best-self-employed-jobs","tags":{"nodes":[],"__typename":"PostToTagConnection"},"__typename":"Post","adPageGroupOverride":null,"bylines":{"writtenBy":{"id":"dXNlcjo0OA==","databaseId":48,"userId":48,"avatar":"$33","description":"Nick Wallace studied Economics at the University of Washington. He enjoys getting people thinking about finances by looking a 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.","additionalMeta":"$34","email":null,"firstName":"Nick","fullName":"Nick Wallace","lastName":"Wallace","name":"Nick Wallace","postCount":"$35","slug":"nick-wallace","__typename":"User"},"editedBy":null,"reviewedBy":null,"factCheckedBy":null,"secondEditor":null},"category":{"id":"dGVybTo4OQ==","children":"$38","databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":38,"slug":"career","ancestors":null,"parent":null,"__typename":"Category"},"isModifiedBeforePublished":false,"contentBlocks":["

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 left a job specifically because they didn’t like their bosses. Unless you rise to be the CEO and Chairman or Chairwoman of your company, however, you will always be working for someone. Unless, that is, you are self-employed.

","

Want to become a real estate professional? Learn the ins and outs of home-buying with SmartAsset’s home-buying guide.

","

Of course, becoming self-employed is often easier said than done. Whether you make your money in marketing or manufacturing, chances are the vast majority of work opportunities in your field involve a manager and a W-2 form. For workers who are willing to change directions, however, there are some jobs that require little additional education and in which the majority of workers are self-employed.

","

To find the best self-employed jobs, SmartAsset looked at Bureau of Labor Statistics (BLS) data on fields in which at least 15% of workers are self-employed. Along with the percentage of workers who are self-employed, we considered the median income, projected workforce growth, projected job opportunities in the next ten years and the level of education required. (Read our full methodology below.)

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Top Industries for Self-Employment

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Real estate. Three of the top 12 self-employed jobs are involved in the real estate industry. Real estate and property managers rank first over all, while real estate brokers and real estate sales agents rank 11^th and 12^th, respectively.
Skilled trades. Construction industry workers, especially tradesmen, are often self-employed. Brickmasons, carpenters and tile setters all rank among the best jobs in SmartAsset’s study.

","

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The Top Ten Best Self-Employed Jobs

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1. Property and real estate managers

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About 43% of property managers are self-employed. Among their responsibilities are grooming the grounds and showing apartments to potential new residents. According to the Bureau of Labor Statistics, the job requires no formal education beyond a high school diploma. Nonetheless, the median income of property managers in the U.S. is $54,270. You might say that being a property manager is… super!

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2. Farmers and ranchers

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Through a combination of modern technology and traditional techniques, farmers today get more out every acre than their predecessors. Higher yields can mean more money. Farmers and ranchers in the U.S. earn a median income of $68,050, according to the Bureau of Labor Statistics. Though formal education beyond high school is not a requirement for farming and ranching, it helps to know the land you’re tending or the livestock you’re raising.

","

Try SmartAsset’s free income tax calculator.

","

3. Brickmasons and blockmasons

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As much art as science, masonry requires careful placement of bricks and blocks, bounded together by various types of mortar. About a quarter of masons (not including stonemasons) work for themselves. Job growth for masons is expected to be strong over the next decade, at 18.6%.

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4. Food Service Managers

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Self-employed food service managers are those who own and operate their own restaurants or catering companies. It’s hard work, and many such ventures do not succeed, but for those that do the results are rewarding. The median income for food service managers (including those who are not self-employed) is $48,560. It’s worth noting, however, that only about 34% of food-service managers are self-employed, so take these numbers with a grain of salt.

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5. Painters (construction and maintenance)

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There are more than 360,000 construction and maintenance painters in the United States of America. According to the BLS, industrial painters in particular will be in demand over the next decade, with excellent job prospects, particularly in the Gulf Coast states. The median income for these painters is $35,950 and 41.3% of them work for themselves.

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6. Carpenters

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If you like working with power tools, then this may be the job for you. The Bureau of Labor Statistics projects 169,100 openings for carpenters over the next decade, so there will likely be lots of opportunities in the field. While you don’t need any formal education above a high school education for these positions, many states have licensing requirements for carpenters. It’s a good idea to do some research if you are considering switching or starting a new career.

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7. Lodging Managers

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About one-third of America’s 48,400 lodging managers are self-employed. These may be bed-and-breakfast owners, or even people who earn a living managing their own Airbnb. The median income for all lodging managers is $47,680. Keep in mind, however, that if you are self-employed you will need to buy your own insurance.

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8. Tile and Marble Setters

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Forget the laminate, these guys lay down the real stuff. There is no formal education requirement in the field of tile and marble setting, though experience or even an apprenticeship is generally necessary for anyone who wants to be self-employed. Overall, the median income in this field is $38,980.

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9. Artists and Related Workers

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This job category includes craft artists, animators, multimedia artists, painters, sculptors, illustrators and art directors. The median income for people employed in those fields is $65,860 and more than half are self-employed. Of course, you can’t drop your day job and become a successful working artist overnight. Art requires practice – and talent.

","

Find out now: Is a 401(k) a good choice when you’re self-employed?

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10. Construction Laborers

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Being a construction laborer is not easy, but it requires no formal education and there promises to be lots of opportunity for work over the next decade. In fact, over the next decade, there will be 378,600 job openings due to growth and replacement needs, according to the BLS. That is the fifth-most of any job in SmartAsset’s analysis.

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Data and Methodology

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To develop this ranking of the best self-employed jobs, SmartAsset analyzed data from the Bureau of Labor Statistics. Initially, we considered more than 1,000 different jobs in total. We narrowed that down to a list of 155 self-employment ideas, including only those fields in which at least 15% of the work force is self-employed. For those 155 jobs, we considered the following five metrics:

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Percent of the workforce that is self-employed.
Median annual income.
Projected workforce growth through 2024.
Projected job openings due to growth and replacement needs through 2024.
Level of education required.

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We ranked each job on those five criteria. For the level of education, we considered a lower requirement to be better, as people who are considering a career change may not be able to return to school before entering a new field.

","

Next, we averaged the rankings for each job across the five criteria. We gave double weight to the median income and level of education required for each and full weight to all other metrics. Lastly, we calculated an index score from 0 to 100 based on that average ranking. The city with the best average scored a 100.

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Questions about our study? Contact us at blog@smartasset.com

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Photo credit: ©iStock.com/shotbydave, ©iStock.com/KatarzynaBialasiewicz

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\n","featuredImage":{"id":"cG9zdDoyMjY2OA==","databaseId":22668,"altText":"The Best (and Worst) Cities for Teachers","date":"2014-10-22T11:56:35","fileSize":66406,"mimeType":"image/jpeg","modified":"2014-10-22T11:56:35","sourceUrl":"https://smartasset.com/wp-content/uploads/sites/2/2014/10/10822502374_08028749a8_z.jpg","__typename":"MediaItem"},"modified":{"datetime":"2023-9-2","readable":"September 2, 2023"},"multipleBylinesByRole":{"editedBy":null,"reviewedBy":null,"writtenBy":null,"factCheckedBy":null,"secondEditor":null,"hideAuthor":null,"__typename":"Post_Multiplebylinesbyrole"},"adTargetingOverrides":{"fieldGroupName":"adTargetingOverrides","pageGroupNewKey":null,"__typename":"Post_Adtargetingoverrides"},"seo":{"canonical":"https://smartasset.com/career/the-best-and-worst-cities-for-teachers","metaDesc":"SmartAsset investigates teacher pay, student test scores, employment rates, and other indicators of job satisfaction to find the best cities for teachers.","metaKeywords":"","metaRobotsNofollow":"follow","metaRobotsNoindex":"index","readingTime":10,"title":"The Best (and Worst) Cities for Teachers | SmartAsset","__typename":"PostTypeSEO"},"slug":"the-best-and-worst-cities-for-teachers","status":"publish","title":"The Best (and Worst) Cities for Teachers","uri":"/career/the-best-and-worst-cities-for-teachers","tags":{"nodes":[],"__typename":"PostToTagConnection"},"__typename":"Post","adPageGroupOverride":null,"bylines":{"writtenBy":{"id":"dXNlcjo0OA==","databaseId":48,"userId":48,"avatar":"$3b","description":"Nick Wallace studied Economics at the University of Washington. He enjoys getting people thinking about finances by looking a 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.","additionalMeta":"$3c","email":null,"firstName":"Nick","fullName":"Nick Wallace","lastName":"Wallace","name":"Nick Wallace","postCount":"$3d","slug":"nick-wallace","__typename":"User"},"editedBy":null,"reviewedBy":null,"factCheckedBy":null,"secondEditor":null},"category":{"id":"dGVybTo4OQ==","children":"$40","databaseId":89,"categoryId":89,"link":"https://smartasset.com/career/articles","name":"Career","postCount":38,"slug":"career","ancestors":null,"parent":null,"__typename":"Category"},"isModifiedBeforePublished":false,"contentBlocks":["

According to the National Center for Education Statistics, as of fall 2012 there were roughly 3.7 million full-time elementary, middle and high school teachers in the U.S. To put that number in context: there are more teachers in America than police officers, physicians, therapists, lawyers, social workers and postal workers combined.¹ When you consider the influence teachers can have on their students’ lives, it is no exaggeration to say that teachers collectively hold the most important job in the country.

","

Find out now: How much do I need to save for retirement?

","

Yet, for all its importance, that job can at times be less than rewarding. Indifferent students, obnoxious parents, poor pay, a lack of resources; these are among the reasons that teachers often report low levels of job satisfaction. Indeed, a national 2012 survey of teachers found that only 39% were “very satisfied” with their jobs, and more than half felt that they were “under great stress” several days a week.²

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The Data

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We wanted to find cities in which teachers enjoy good pay, long-term job security and a positive work environment. To do so, we first collected data on teacher income and employment in major metropolitan areas, limiting our focus to areas with at least 5,000 teachers. We then looked at the largest school districts in the principal cities of each of these areas. In all, we collected data on five different factors:

","$42","

Try SmartAsset’s free Student Loan Calculator.

","

Methodology

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To produce our final index, we ranked the 116 cities in our study across all five of the above factors. We then averaged those rankings, giving equal weight to each of the five factors, and applied a score on a scale of 0-100 based on the average ranking. The city with the highest average ranking (25.8) received a 100, while the city with the lowest average ranking (85.4) received a zero; a city with an average ranking halfway between the high and the low received a 50, and so on. The results, below, are the best and worst cities for teachers.

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1. Cambridge, Massachusetts

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Home to Harvard, M.I.T. and the thousands of current and future PhDs that work and study at those august institutions, Cambridge is a city that recognizes the importance of high quality education—and high quality educators. While Cambridge had an average ranking of 25.8 (out of 116) across the five factors we considered, its highest ranking was for district spending. With annual per pupil spending of $27,650, Cambridge School District ranked first overall in that category, so teachers in Cambridge can be sure to have the books and supplies they need to lead their classes effectively. That, along with the high disposable income enjoyed by teachers in the area and strong student test scores (8^th highest overall), make Cambridge the most teacher-friendly city in America.

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2. Columbus, Ohio

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The largest city in Ohio is also among the best destinations for teachers. The Columbus metro area ranked in the top 25 for both hiring and student-population growth, and the Columbus City School District ranked 25^th for per pupil spending, with the district spending an average of $14,008 for each student it educates, according to the U.S. Census Bureau.

","

Find out now: How does my 401(k) work?

","

3. Boston, Massachusetts

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Across the Charles River from the top ranked city in our study, Boston likewise benefits from a strong academic culture. Boston University is the city’s fourth largest employer, and Northeastern University, Boston College and U-Mass Boston also have campuses in the city. As a result, the city places a strong emphasis on education: the Boston School District’s per student spending of $19,720 was sixth overall in that category, and teachers in the Boston-Cambridge-Quincy metropolitan area enjoyed the 22^nd highest disposable income of any city in our study.

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4. Poughkeepsie, New York

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The smallest city to make the top ten, and one of the smallest in our study, Poughkeepsie may be the perfect place for teachers who don’t want to live in a big city. Teachers in the Poughkeepsie metropolitan area have an average disposable income of over $64,000 – highest in our study. The Arlington Central School District, which is the largest district in the area, spent an average of $17,037 per student, 14^th highest overall (the smaller Poughkeepsie City School District fared even better, with per pupil spending of over $19,000).

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5. Edison, New Jersey

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In 1954, the township of Raritan renamed itself after its most famous son, Thomas Edison, inventor par excellence, who did much of his tinkering in Raritan’s Menlo Park neighborhood. Today, students in Edison Township seem to be intent on emulating The Wizard of Menlo Park: the Edison Township School District had the highest average math and reading test scores of any city we examined.

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6. Seattle, Washington

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The top-ranked west coast city in our study, Seattle rated in the top 50 in four of the five factors we considered. It was in the top half of cities for per pupil spending, district test scores, average disposable income and student-population growth. Seattle is also home to one the country’s best high school jazz bands: the Garfield High School Jazz Band has won the Essentially Ellington National Jazz Band Competition four out of the past twelve years, and placed second twice.

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7. Warren, Michigan

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One of just two cities in the top ten not located on either the east or west coast, Warren rated especially well for teacher employment growth. It was 19^th overall in that factor, with the Warren-Troy-Farmington Hills metro area adding over 5,000 teachers since 2011, according to the Bureau of Labor Statistics.

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8. San Francisco, California

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Teachers who are looking to move to the Bay Area should have little trouble finding a job there in future years. The San Francisco-San Mateo-Redwood metro area had the ninth highest rate of teacher employment growth of the cities we examined, and the 17^th highest rate of student population growth.

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9. Bellevue, Washington

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Across Lake Washington from 6^th ranked Seattle, Bellevue routinely receives accolades for its high quality schools. Unsurprisingly, the Bellevue School District had the second highest math and reading test score average of the cities in our study.

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10. Wilmington, Delaware

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The 10^th best city for teachers, Wilmington rated 15^th overall for per pupil spending. On average, the Christina School District (named for the river that passes through Wilmington), spends just over $17,000 per student, according to the U.S. Census Bureau.

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1. Augusta, Georgia

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With an average ranking of 85^th across the five categories we considered, Augusta, Georgia was the least teacher-friendly city in our study. The Augusta metro area is especially notable for its low rates of teacher-employment growth and student-population growth. It rated 97^th and 107^th respectively in those two categories.

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2. Albuquerque, New Mexico

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Teachers in the Albuquerque metro area were among the most poorly paid of any city in our study. On average, they made $45,165 as of 2013, but when factoring for the cost of housing in Albuquerque, disposable income for a typical teacher could be as low as $36,800.

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3. San Bernardino, California

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The results for San Bernardino are in some ways contradictory. On the one hand, teachers in the Riverside-San Bernardino metropolitan are among the most highly paid in the country, with an average disposable income of over $60,000. On the other hand, the area has actually been losing teachers in the past few years: teacher employment fell by over 8% from 2011 to 2013, the third highest rate of employment loss of any area in our study.

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4. Baton Rouge, Louisiana

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In the most recent district report card released by the Louisiana Department of Education, Baton Rouge had more failing schools (16) than schools receiving an A (11). As a whole, the East Baton Rouge Parish School District averaged a C grade, lower than the state average B. One potential avenue for improvement is higher teacher pay: teachers in Baton Rouge make an average of $49,238, and their disposable income ranked 93^rdout of the 116 cities in our study.

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5. Stockton, California

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The 2012 municipal bankruptcy filing in Stockton has forced the city to make cuts in many parts of its budget, and the area’s teachers have not escaped the repercussions. According to the Bureau of Labor Statistics, the number of teachers employed in the Stockton metro area fell by over 4% from 2011 to 2013.

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6. Kansas City, Missouri

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Kansas City rated in the bottom 50 for four of the five categories in our study. Teachers in the Kansas City metro area have the 9^th lowest average disposable income of any city in our study, and the Kansas City School District had the 9^th lowest average score on math and reading tests.

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7. Oxnard, California

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Though Oxnard resides in one of the wealthier parts of the country, its teachers and students have by-and-large missed out on the benefits of that wealth. Per student spending is just $8,508 in Oxnard, according to the U.S. Census Bureau, 24^th lowest of any city in our study.

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8. Gary, Indiana

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An industrial town located on the southernmost shores of Lake Michigan, Gary’s population has fallen by over 50% since the 1960s. More relevant to our study, however is what’s happened to the under-15 population, which has fallen 1.5% annually in recent years. This trend may limit long-term job prospects for the city’s teachers.

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9. Jacksonville, Florida

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The most populous city in Florida (though not the most populous metro area) Jacksonville rated especially poorly for teacher pay and spending per student. It ranked 104^th and 96^th respectively in those two categories.

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10. Miami, Florida

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Like those in Jacksonville, teachers in Miami are not particularly well-paid. Disposable income for a typical teacher in the greater Miami area is around $34,600, 7^th lowest of any city we examined.

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Photo credit: flickr

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There are two ways to look at your net worth by age. The first is to measure your wealth against the median wealth of your age group and peers. This can be modestly helpful as a benchmark, but by and large it tells you nothing about your own needs. The far more helpful approach is […]

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As a spokesperson for SmartAsset, she has been cited by Bloomberg, CNBC, Business Insider, Fox News, The Hill and many more. \r\n\r\nJaclyn was previously an editor for CNET Money, where she covered banking, investing, credit cards and real estate. She also served as managing editor of small business content for Bizfluent, Work.Chron and AZCentral, and as a research consultant for NAPCO Media. As a past real estate licensee and Reatlor®, Jaclyn managed contracts for residential properties, while working closely with first-time homebuyers, investors and mortgage brokers.","additionalMeta":{"expertise":"Financial Planning, Investing, Taxes, Real Estate","__typename":"User_Additionalmeta"},"email":null,"firstName":"Jaclyn","fullName":"Jaclyn DeJohn","lastName":"DeJohn","name":"Jaclyn DeJohn","postCount":{"pageInfo":{"offsetPagination":{"total":57,"__typename":"OffsetPaginationPageInfo"},"__typename":"UserToPostConnectionPageInfo"},"__typename":"UserToPostConnection"},"slug":"jdejohn","__typename":"User"},"reviewedBy":null,"writtenBy":{"id":"dXNlcjo5NA==","databaseId":94,"userId":94,"avatar":{"url":"https://secure.gravatar.com/avatar/72c05cde57f4d7ee65af27e91a5315c2?s=96&d=mm&r=g","size":96,"__typename":"Avatar"},"description":"Eric Reed is a freelance journalist who specializes in economics, policy and global issues, with substantial coverage of finance and personal finance. 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","

The far more helpful approach is to consider your own financial goals. What do you need to build the life you want, and to afford your own lifestyle in retirement?

","

At age 35, you still have a lot of flexibility in your net worth. Unlike many other age groups, there really isn’t a “should” for people in their 20’s and mid-30s, and you can even afford a comfortable retirement if you have nothing saved up at all. Talk to a financial advisor to start making a personalized financial plan.

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Median Net Worth

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We can use the median household as a benchmark for measuring net worth.

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U.S. Census Bureau data uses age 35 a hinge. For households 35 and under, the median net worth is about $22,000 according to the most recent data from the . Households age 35-44 have a median net worth of about $97,740. While this data doesn’t necessarily reflect what someone might have in a specific year, it does suggest that either or both the power of compound interest and career progression have a large impact on net worth over time.

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This means starting to implement healthy financial strategies today can have an outsized return for your future.

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Compare Your Net Worth to Your Goals

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Again, median numbers may not be particularly helpful for your personal circumstances. For example, a doctor who couldn’t even enter practice until age 28 with $200,000 in debt may have a net worth still in the red at 35, but he can more than likely overcompensate in the long run thanks to his compensation.

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The point is, you should measure your net worth by your own, individual situation. What your net worth should be depends entirely on what you have and what you, personally, need.

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When it comes to retirement, the net worth that you should have at age 35 depends on the retirement you want to afford. The more money you will want at age 67, the more money you need to have at age 35. There are a number of ways to measure this.

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Overall, the rule of thumb is to judge by your salary. Typically, by the time you enter retirement you want to have 10 times your annual salary saved up in your retirement fund. One common benchmark is to have two times your annual salary in net worth by age 35.

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So, for example, say that you earn the U.S. median income of $74,500. This means that you will want to have $740,500 saved up by age 67. To reach this goal, at age 35 you may want to have about $149,000 in savings. This will keep you on track with ordinary benchmarks.

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However, you can also judge this by doing the math on what you need to save each month to reach your goals. In that case, your benchmarks can be much lower. In fact, your net worth at age 35 can be nothing at all.

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Say that you are looking to save the benchmark $740,500. You contribute 10% of your income each month to your retirement account, for an annual contribution of $7,450 per year. You have this money held in an S&P 500 index fund earning the market’s historic average of 10% annual returns. You are 35 years old with nothing saved at all and you intend to retire at full retirement age of 67.

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Based on this profile, you will have $1.79 million by the time you retire. This is not only more than you need, it is plenty of money to afford a very comfortable retirement. Talk to a financial advisor today to build a plan to grow your net worth.

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Bottom Line

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Your net worth by age 35 will help you continue saving for your future. What you should have on hand depends entirely on your personal financial goals, but at this age there is still a lot of room for flexibility.

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Retirement Savings Tips

","$51","

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