- Income Rose by up to 30% in Some U.S. Cities – 2023 Study
To see where income increased most, SmartAsset examined Census Bureau data for 124 of the largest cities in the country and ranked them by the size of income changes.
- Best Housing Markets for First-Time Homebuyers – 2023 Study
A home purchase can serve as a building block for the homeowner’s financial life – and the circumstances of the local market can make or break the deal. First time homebuyers may look for a less competitive market to have a better chance of getting a realistic offer accepted. They also need affordability, to position… read more…
- What a Second or Third Child Costs Parents Across the U.S. – 2023 Study
It can cost up to $35,000 annually to raise a single child in the most expensive places. Even on average, the first child costs parents more than $20,000 annually during their early years. These costs can get substantially higher for parents who want to have a second or third child. To measure the baseline costs… read more…
- Where High Earners Are Moving – 2023 Study
Despite cost of living challenges, the number of high-earning American households continues to grow. In 2021, 8.68 million tax returns indicated annual earnings exceeding $200,000 – up from 8.57 million returns just a year earlier. The migration of these high-earning households can have significant effects on a state’s tax base and finances. SmartAsset set out… read more…
- Wall Street Texas: A NYC-Austin Move Can Save High Earners 40% or More
Thanks to no state income tax and a cost of living that’s practically on par with the national average, high earners from more expensive cities like New York City, San Francisco and Chicago can maximize their income by relocating to the Texas state capital. To determine how much you can save by moving to Austin,… read more…
- Where Home Prices Are Falling Most – 2023 Study
Larger housing trends in the U.S. as a whole don’t necessarily inform hopeful homebuyers or current homesellers about their markets. Some locales offer the advantage – or disadvantage – of bucking nationwide trends. For example, while home prices increased by at least 20% over the last year in some places, they also decreased substantially in… read more…
- America’s Top 1% Is Different in Each State: From a $370k to $950K Income
American wealth is becoming increasingly concentrated at the very top of the economic ladder. The top 1% of families hold over a third of the total wealth in the U.S. – up from 27% in 1989 – according to a Congressional Budget Office report from 2022. The bottom half of all households, meanwhile, control just… read more…
- America’s Most Expensive Housing Markets – 2023 Study
With home prices increasing by 20% or more in some places and decreasing by 15% or more in others just over the last year, the home-price volatility of the last few years is settling asymmetrically. To help Americans evaluate their best options when it comes to housing – whether they’re looking to buy or sell… read more…
- Rent Increased by 30% or More This Year in Some U.S. Cities – 2023 Study
On average, rents increased 5.45% over the last year, exceeding the inflation rate during the same time. But some areas saw much steeper increases than others – up to a 63% hike. To find out where housing rentals are taking… read more…
- Most Livable Small Cities – 2023 Study
For some, the hustle and bustle of big-city living can be overwhelming, but the slow pace of life in a rural small town may not provide enough excitement. Luckily, America is dotted with small cities – places with populations between… read more…
- Climbing the Income Ladder: How Taxes Impact Different Salaries – 2023 Study
Remote work has allowed skilled workers to mobilize and capitalize on the benefits of different areas of the U.S. After all, a $100,000 salary is worth far more in a place like Memphis than high-cost cities like New York and… read more…
- ‘Wall Street South’: A NYC-Miami Move Can Save You Up to $200K
With cost of living increases and high tax rates in cities like New York City, Chicago and San Francisco, high income earners are looking to take advantage of more affordable areas of the country for the sake of stretching a… read more…
- America’s Safest Suburbs – 2023 Study
People often opt to move to the suburbs for myriad reasons – space, affordability, schools, employment and sometimes to seek safety. Violent and nonviolent crime rates, roadway safety, and drug and alcohol abuse within a community can affect the quality… read more…
- 60% of Financial Advisors Use or Are Interested in Using ChatGPT – 2023 Survey
While the onslaught of artificial intelligence (AI), specifically ChatGPT, has proven to be a sudden and bumpy transition, financial advisors – among many other industries – have eagerly begun trying to fit the technology into their practices. The AI chatbot has the ability to interface with clients and prospects while analyzing data and drafting memos. Still, many… read more…
- Secure 2.0: How Super-Catch-Up Contributions Can Grow Your Retirement
Catch-up contributions allow people age 50 and older to save extra money in their retirement accounts. These additional savings are currently capped at $7,500 per year, but some workers will soon be eligible to save more money for retirement… read more…
- Where High Earners Lose The Most To Taxes and Cost of Living — 2023 Study
An annual income of $250,000 won’t put you in the top 1% of earners, but it will get you close to it. That’s because only 7% of households in the United States earn $250,000 per year1. How far that income… read more…
- Best Cities to Ride Out a Recession – 2023 Study
While there is a lot of debate on whether the U.S. will enter a recession – or if it’s already in one – some models have projected a likelihood as high as 99.3%1. While no one can predict the future,… read more…
- Raising a Child Can Cost More Than $30K Per Year in the U.S. – 2023 Study
The ongoing costs of child-rearing can be hard to size up – and digest. The average cost to raise a child in the U.S. is $20,813 annually. By understanding what to expect to pay for a child’s needs, parents can… read more…
- Best Places for New College Grads – 2023 Study
College graduates are under immense pressure to land a job right out of college, especially during economic downturns, when the job market may be less stable. However, it’s not just the job itself graduates have to think about. Figuring out… read more…
- Financial Advisors Reveal How Investors Should Prepare for Potential U.S. Debt Default – 2023 Survey
If Congress doesn’t opt to raise or extend the nation’s debt limit, the United States may run out of the money needed to pay its bills. With this deadline approaching as early as June 1, SmartAsset asked financial advisors what they think will happen if the U.S. defaults and what they recommend clients do to prepare For… read more…
- Nearly 4 in 5 Advisors Say the U.S. Economy Is in a Recession – Or Will Be Within the Year – 2023 Survey
- Wedding Waitlist: How Long It Takes to Save for the Big Day – 2023 Study
The average American wedding costs between $10,000 and $28,000. Some couples will spend up to $100,000 for a lavish event – or more. But the cost of a wedding doesn’t only depend on the couple and their tastes: It also depends on your location. To find where wedding costs are most and least expensive, SmartAsset… read more…
- Buy vs. Rent: A Comparison of Housing Costs in U.S. Cities – 2023 Study
Potential homeowners may feel left in the dust with recent increases in costs and interest rates. But with the right combination of factors in some U.S. cities, the costs of homeownership may actually be less than the cost of renting,… read more…
- Best Zoom Towns in the U.S. – 2023 Study
The modern worker in 2023 has more options than ever before. Forty-one percent of workers are still fully remote or in a hybrid role1, which means people can opt to settle down in places that can offer a little reprieve from high living costs. This has given rise to a new moniker to describe the… read more…
- How Important Is Social Security to Retirees in U.S. Cities? 2023 Study
When inflation surges and cash loses its purchasing power, retirees’ hard-earned savings suddenly don’t go as far as they expected. Inflation may also lead to widespread salary increases, but retirees typically don’t benefit from wage growth because they’ve already left… read more…