- Price-to-Rent Ratio in the 50 Largest U.S. Cities – 2022 Edition
Transitioning from renting to buying a home is a major financial milestone. But rising prices have made home buying more challenging for millions of Americans. The Federal Reserve Bank of St. Louis says that the median home sales price increased 30% between the first quarter of 2020 and the first quarter of 2022, reaching $428,700. And rents are shooting upward… read more…
- Most Affordable Beach Towns – 2022 Edition
Buying a home in 2022 has become very expensive. The S&P CoreLogic Case-Shiller US National Home Price Index, which tracks the purchase prices of single family homes, says that prices rose 19.2% in the one-year period ending in January 2022. When you add in proximity to the water, prices can be even more discouraging. However, there… read more…
- Best Places for Asian American Entrepreneurs – 2022 Study
Asian Americans make up just under 5% of the total adult population in the U.S., but own roughly 10% of all U.S. businesses. And as the Asian American population is expected to more than double from roughly 22 million in 2019 to over 46 million in 2060, many more Asian American entrepreneurs across the country… read more…
- Survey: Financial Advisor and Client Communications in 2022
During times of economic instability, financial advice is often in high demand. As increased inflation and the Russia-Ukraine War continue to shake financial markets, many individuals working with financial professionals may rely more heavily on them for advice and planning.… read more…
- Most Livable Small Cities in the U.S. – 2022 Edition
Despite the perception that the COVID-19 pandemic sparked a mass migration out of cities, the data simply does not support that narrative. According to Pew Research, fewer people moved out of cities in 2020 compared with the years leading up… read more…
- Best Community Colleges in America – 2022 Edition
No sector of higher education has been hit harder by the COVID-19 pandemic than community colleges. While enrollment across all higher education institutions fell 5.1% between fall 2019 and fall 2021, public two-year colleges have suffered the steepest drop in enrollment during that time, falling by 13.1%, according to data from the National Student Clearinghouse… read more…
- Best States for the Middle Class – 2022 Edition
Historically, the middle class has been the largest economic group in the U.S. and currently remains so. However, it is an economic group whose numbers have steadily declined year-over-year. More families are renting than buying homes in recent years and the number of families considered cost-burdened (paying more than 30% of their income for housing)… read more…
- Where Retirees Rely Most (and Least) on Social Security – 2022 Edition
Retirement can often be daunting because it means a shift from traditional income to a reliance on savings, investments and government programs such as Social Security. However, for most Americans, the government safety net is not enough to live on. While the Social Security program in 2022 has seen the largest cost-of-living adjustment (COLA) increase… read more…
- States Most Dependent on the Federal Government – 2022 Edition
Billions of dollars are at stake each year for individual states when lawmakers in Washington D.C. negotiate the following year’s federal budget. For 2023, President Biden is calling for a 7% increase in federal spending as part of his $5.8 trillion budget proposal. While this money will ultimately play a major role in how states… read more…
- How the Russia-Ukraine War Is Impacting U.S. Food Prices – 2022 Study
While the U.S. is not directly involved in the Russia-Ukraine war, Americans are seeing an impact at home. The prices of commodities and products in the U.S., and worldwide, have increased above the norm. While spending on some commodities such as gasoline can be greatly minimized or avoided, depending on lifestyle, food spending is unavoidable. Consumers… read more…
- Best-Paying Places for Financial Advisors – 2022 Edition
Most financial advisors fall in the 90th percentile of U.S. workers according to average annual earnings. Data from the Bureau of Labor Statistics shows that the average financial advisor made about $120,000 in 2021, more than double the income of the average worker who earned $58,300 in the same year. Though the advisory career sets many individuals up… read more…
- States Leading the Charge on Renewable Energy – 2022 Edition
Renewable energy will play a pivotal role in the world’s attempt to curb the effects of climate change. The landmark Paris Agreement signed by 196 countries seeks to limit global temperature rise to 1.5 degrees Celsius above pre-industrial levels. To do this, global emissions of carbon dioxide must fall 45% by 2030 and be virtually… read more…
- Safest Cities in America – 2022 Edition
For the first time in four years, violent crime in the U.S. increased in 2020. A steep rise in murders fueled this overall uptick in violent crime, as homicides surged 22% from a year earlier, according to FBI crime data. Unfortunately, that trend continued in 2022, as major cities recorded an additional 5% increase in… read more…
- Where Residents Face the Most Financial Scams – 2022 Study
Between 2020 and 2021, the number of fraud reports filed with the Federal Trade Commission (FTC) increased by 27.3%, from 2.2 million to 2.8 million. Total reported monetary losses saw a bigger spike over the same time period (78%), jumping from $3.3 billion to $5.9 billion. Over the past 10 years, there was a 154.5%… read more…
- This Simple Strategy Can Save You Thousands on Your 30-Year Mortgage
While most borrowers get a 30-year mortgage and methodically pay off the loan by making regularly-scheduled monthly payments, there is another repayment option. Rather than making 12 monthly payments per year, some borrowers arrange with their mortgage lender to pay half of their monthly bill every other week. As a result, they make the equivalent… read more…
- Best States for Cryptocurrency Enthusiasts – 2022 Study
The cryptocurrency industry is currently worth more than $1.8 trillion globally, compared to its value of roughly $200 billion two years ago. In the U.S., consumers and businesses are latching onto virtual currency and blockchain technology in droves; however, federal guidelines are only beginning to take shape. Most recently, President Biden signed an executive order to… read more…
- Where Women Are Buying Homes – 2022 Edition
A 2022 study from the Bank of America says that 30% of current women homeowners bought their home while single. And almost two-thirds of women surveyed said they would buy a home before getting married. As more women poise themselves to become homebuyers, SmartAsset analyzed data to identify and rank the metro areas where they were… read more…
- Colleges Where It’s Most Expensive to Be an Out-of-State Student – 2022 Study
The rising cost of a college education has been well documented over the last 30 years. In that time, average tuition and fees for in-state students at four-year universities has more than doubled, according to the College Board. However, in-state tuition still remains significantly more affordable than out-of-state tuition. In 2020-2021, average published tuition and… read more…
- Where High Gas Prices Will Most Affect Residents – 2022 Study
As inflation continues to send the cost of goods and services higher and higher, there’s one place where price spikes have been especially acute: the gas pump. The consumer price index says that the price of gasoline surged 6.6% in February 2022, pushing costs 38.0% higher than one year earlier. And if rising inflation wasn’t enough of a… read more…
- Where Single Mothers Fare Worse Economically – 2022 Study
As of 2020, there are 10.7 million single parent households in the U.S. and 80.5% of them are headed by single mothers. Single mothers have also seen a decrease in their income over the past several years and nearly half… read more…
- Equal Pay Allegations and Resolutions in the U.S. – 2022 Study
Though the Equal Pay Act (EPA) passed in 1963, pay equity issues still exist. According to the Bureau of Labor Statistics (BLS), in 2020, women made 82 cents for every dollar a man earned. Depending on race and ethnicity, this figure varies. Asian women earn 79 cents on the dollar compared to Asian men and… read more…
- Where Older Americans Struggle Most With Student Debt – 2022 Study
Often when we think about the finances of older Americans, a couple of words come to mind: investments and retirement. Student debt among older Americans is a less typical conversation. However, about 6% of Americans ages 50 and older carry an average of $45,641 in student debt in addition to potential other debt. That’s $333.2… read more…
- Places Where Inflation Has Spiked the Most – 2022 Edition
With rapidly climbing food, rent and gas prices, inflation is the highest it has been in four decades. Data from the Bureau of Labor Statistics (BLS) shows that the Consumer Price Index (CPI), which measures the change in prices paid by urban consumers for goods and services, increased 7.9% during the 12-month period that ended in February… read more…
- Best States for Childcare Access and Affordability – 2022 Study
Since 1990, average childcare costs in the U.S. have more than doubled while the median household income has increased by just 35%. With childcare costs outpacing incomes, childcare alone can account for more than 10% of one’s pre-tax income. However, in some states childcare is more affordable than others. In this study, SmartAsset looked at… read more…
- Survey Reveals Details About Financial Advisor Succession Planning
Though financial advisors expertly help clients plan for their future, they sometimes neglect to apply the same forethought to their own firms. In fact, only 27% of financial advisors have a succession plan or any formal preparations to transition their business, according to a 2018 Financial Planning Association (FPA) report. The need to have such… read more…