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☆ The 10 U.S. cities where $250,000 goes the furthest are all in the South
▼ + stars: | 2023-06-14 | by ( Isabel Engel | In Isabel--Engel | ) www.cnbc.com time to read: +1 min

The purchasing power of a $250,000 salary, for instance, depends largely on a city's cost of living and overall tax environment. High earners might be able to maximize their earnings and take advantage of lower tax rates by moving cities. The purchasing power of $250,000 in cities like New York and San Francisco, for example, is worth just shy of $83,000 after taxes and cost of living, the study finds. In cities like Memphis, Tennessee, and El Paso, Texas, though, $250,000 is worth much more, thanks to the states' lack of income tax. For the fortunate 7% of American households earning $250,000 per year, here are the top 10 cities where that money goes the furthest.

Locations: New York, San Francisco, Memphis , Tennessee, El Paso , Texas

☆ Someone making $150,000 in NYC can save nearly $50,000 by moving to Miami, one study says
▼ + stars: | 2023-06-11 | by ( Aaron Mcdade | ) www.businessinsider.com time to read: +4 min

Moving from New York City, Chicago, or San Francisco to Miami could save high earners thousands. Those making $650,000 or more could save up to $200,000 moving from NYC to Miami, a new study found. Those earning north of $150,000 per year could save anywhere from $2,000 to nearly $200,000 in a move from major metropolitan areas like New York City, Chicago, or San Francisco to Miami, a new study found. In the most extreme cases, New Yorkers making $650,000 or more could save nearly $200,000 per year in tax and cost of living savings living in Miami instead. In total, a Chicagoan moving to Miami will only save 1% or 2% of their yearly salary, while people moving from San Francisco to Miami would save about a quarter of their income.

Persons: SmartAsset, Peter Thiel Organizations: Savings, Miami Locations: New York City, Chicago, San Francisco, Miami, NYC, Florida, New York, York City

☆ These are the 10 best states to retire based on quality of life—Florida isn't in the top 3
▼ + stars: | 2023-05-21 | by ( Celia Fernandez | ) www.cnbc.com time to read: +2 min

WalletHub ranked the best states to retire based on quality of life and Massachussets ranked the highest. 1 state to retire for high quality of life: MassachusettsMassachusetts is the best state for retirees based on the quality of life. 2 best state to retire in 2023 based on quality of life, according to WalletHub. Cavan Images | Cavan | Getty ImagesTop 10 best states to retire based on quality of lifeMassachusetts Minnesota Pennsylvania Florida New Hampshire Maine Vermont Ohio Wyoming New York Minnesota ranked second on the list. Pennsylvania ranks as one of the best states to retire based on several factors including, affordability and quality of life.

☆ Why so many people making $100,000 a year don't feel rich
▼ + stars: | 2023-05-17 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

And if I could get to $100,000, I figured, I'd be rich, or at least comfortable, which is how rich people say "rich." Does a $100,000 salary make you 'rich'? You don't have to be an economist to know that earning $100,000 in New York City is different than earning $100,000 in Memphis, Tennessee. Because Tennessee doesn't tax earned income, a Memphis resident earning $100,000 takes home $74,515 after federal and state taxes, according to analysis by SmartAsset. How to make $100,000 feel more like $100,000

☆ These are the top 3 cities for new grads to launch their lives and careers: 'I can afford the house I want and the life I want'
▼ + stars: | 2023-05-15 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +9 min

1 best metro area for new grads in 2023 is the area surrounding Lubbock, Texas. Data is one thing, but what is it actually like to be a young person living in these areas? "Other cities did great in one or two areas max, but Lubbock offers the whole package," DeJohn says. Many of the clients Douglas works with are young homebuyers around her age and just out of college or grad school. "Here, I know I can afford the house I want and the life I want," she adds.

☆ 5 Gen Zers and millennials who make more than $100,000 a year explain how they spend their salaries — and whether they feel like they've 'made it'
▼ + stars: | 2023-05-11 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +2 min

We asked five Gen Zers and millennials earning six figures whether they feel like they've "made it." Some said a six-figure salary could feel smaller after expenses like childcare and housing. Gen Zers, the oldest of whom are 26, are just entering the workforce, while many millennials, who are 27 to 42, are well into their careers. With the high costs of things like housing, college, healthcare, and childcare, what's enough for young Americans to feel like they've "made it"? We asked five Gen Zers and millennials who earned six figures last year what that money has done for them, what it hasn't done, and whether overall they feel like they've made it.

☆ Florida is the No. 1 U.S. state retirees are moving to—here's where else they're going
▼ + stars: | 2023-04-30 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Retirees are flocking to Florida. The Sunshine State saw a massive influx of residents over 60 in 2021, according to a recent SmartAsset study. The study defines retirees as Americans aged 60 and older, although SmartAsset notes that not all Americans over 60 are retirees. SmartAsset calculated each state's net migration by subtracting the number of people over 60 who moved out of a state from the number who moved in. Here are the top 10 states retirees moved to in 2021, according to SmartAsset.

☆ Earning $300,000 a year is still considered middle class in this U.S. city—it’s not New York or LA
▼ + stars: | 2023-04-19 | by ( Kamaron Mcnair | ) www.cnbc.com time to read: +1 min

Around half the American population is considered middle class, according to the most recent Pew Research data. That means you can earn $100,000 and be considered middle class in some locales, but not others. In fact, middle class income ranges vary widely across the largest 100 U.S. cities, according to a new study from SmartAsset. Fremont, California, has the highest-earning middle class with those earning up to $311,936 still falling in the middle-income range there. SmartAsset used a variation of Pew’s middle class calculation to determine where middle class Americans are making the most money.

☆ Workers in the US now want at least $76,000 to start a new job as minimum wage expectations continue to rise in a red-hot job market
▼ + stars: | 2023-04-19 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +3 min

Employees' wage expectations have risen to $76,000 a year, according to a New York Fed survey. The rise in expected salary levels comes at a time of historically low unemployment rates in America. Those with a college degree raised their reservation wage expectations by about $5,000 to over $97,000. The rise in expected salary levels makes sense, as it comes at a time of historically low unemployment rates in America. This, in turn, leads to employees upping their salary expectations to combat inflation's erosive effects.

☆ People living in New York, San Francisco, and Honolulu need to earn $300,000 to feel like they're making $100,000 as inflation bites, survey says
▼ + stars: | 2023-04-18 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +3 min

Earning $300,000 in New York, San Francisco, and Honolulu feels like earning $100,000. Inflation surged to highs not seen since the 1980s in 2022, pushing the cost of living higher. The study found that New York, San Francisco and Honolulu have the highest cost of living at over 80% above the national average. New York came in at a close second with $312,000 needed, while San Francisco required $310,700. In March, the rate of consumer price inflation was 5%, remaining significantly above average compared to the past 30 years.

☆ These are the 15 worst places to buy a home if you want it to increase in value. Almost all of them are in the Midwest.
▼ + stars: | 2023-04-09 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +1 min

Markets in Michigan and Ohio rank among the worst for home value growth, according to a SmartAsset study. Flint, Michigan ranks worst in the country, according to the study. According to a new SmartAsset study, some markets in Ohio and Michigan rank among the worst for home value growth and stability. The study took stock of 400 US housing markets and the amount the values of homes increased over the past 25 years. If you're looking to buy a home, here are the 15 US markets with the worst return on investment you might want to avoid:

☆ The 15 worst places to buy a home if you want it to grow in value
▼ + stars: | 2023-04-07 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

However, the 15 bottom-ranked cities averaged only 66% price growth over that quarter century. Montgomery, Alabama, is the worst city for growth, with prices rising just 59.6% since 1998. Cities in Illinois take up the next five spots in the ranking, with average price growth of only 61.8%. Values in Florida also have grown steadily over the years, with Miami and Naples both posting price growth just over 290% since 1998. 1 place to buy a home if you want it to increase in value — and it's not in California or New York

☆ The salary you need to live comfortably in 15 major U.S. cities
▼ + stars: | 2023-04-04 | by ( Isabel Engel | In Isabel--Engel | ) www.cnbc.com time to read: +1 min

Overall, Americans need an average post-tax income of $68,499 to live comfortably in the U.S., according to recent data from SmartAsset. SmartAsset's study analyzed the after-tax income needed to live in the nation's 25 largest metro areas comfortably. The post-tax salary needed in these 25 areas increased by around 20% throughout 2022, while inflation grew about 8%. "Inflation is taking a bigger bite out of their paychecks and the cost of living is rising. What does it take in these cities to really feel not just like you're surviving financially, but like you're comfortable?

☆ Properties in Austin have skyrocketed in value over the last 25 years. Here are the top 10 US areas where house prices have grown.
▼ + stars: | 2023-04-04 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +2 min

Property values in Austin have soared over the past 25 years, an analysis from SmartAsset found. The study analyzed average home value data in metro areas from 1998 to 2022. The study analyzed average home value data in 400 metro areas between 1998 and 2022, calculating collective increases to measure growth and drops in value to measure stability. Two areas in Colorado — Boulder and Fort Collins — also saw above-average home value growth. Here are the metro areas that have seen the biggest property value growth in the last 25 years:

☆ This city is the No. 1 place to buy a home if you want it to increase in value — and it's not in California or New York
▼ + stars: | 2023-04-02 | by ( Mike Winters | ) www.cnbc.com time to read: 1 min

In most places, the value of U.S. homes has grown steadily over the last few decades. Out of the 400 cities ranked by average home price growth since 1998, Austin takes the top spot, according to a recent SmartAsset study. Across all metro areas, home values increased an average of 154% from the first quarter of 1998 through the fourth quarter of 2022. It is one of only eight cities where home values increased by 300% or more in that time. The rest of the top 15 markets ranked by price growth are mostly large coastal cities in California and Florida.

☆ The 7 fastest-growing STEM jobs that pay over $100,000
▼ + stars: | 2023-03-18 | by ( Isabel Engel | In Isabel--Engel | ) www.cnbc.com time to read: +1 min

Growth in the American STEM industry is attributed mainly to the country's growing computer industry. SmartAsset analyzed historic employment growth between 2017 and 2021 and projected employment growth from 2021 to 2031 to identify and rank the country's fastest-growing STEM occupations. Information security jobs top the list of fastest-growing STEM jobs for the second year in a row. STEM jobs overall account for 5.9% of the fastest-growing occupations in the United States. Of the fastest-growing STEM occupations, here are seven that pay over $100,000, according to the U.S. Bureau of Labor Statistics:

☆ Making $100,000 in New York City 'feels like' only $36,000, according to new study. Here are the top 10 cities where your money goes further.
▼ + stars: | 2023-03-16 | by ( Aidan Pollard | ) www.businessinsider.com time to read: +1 min

New York City ranked the lowest for cost of living on a six-figure salary in a study of 76 cities. Seven cities in Texas rounded out the top 10, while places like LA and Boston were at the bottom. According to a new cost of living study by financial technology company SmartAsset, a $100,000 salary in New York City leaves workers with what "feels like" just $36,000, the lowest of nearly 80 cities analyzed by the financial advisory company. Each city was analyzed using a salary of $100,000. Here are the top 10 cities for cost of living:

☆ Why Everyone Is Moving to Florida: Jobs, Economy, Cost of Living, Taxes
▼ + stars: | 2023-03-09 | by ( Emil Skandul | ) www.businessinsider.com time to read: +12 min

For other states to compete, they will need to pay attention to what Florida is doing right. Floridians pay no income tax and fewer taxes overall than people in states like New York, California, or Massachusetts. But a low tax rate isn't the only thing people care about. Despite having a budget half the size of New York's and a larger population, Florida, by many metrics, is able to do significantly more with the taxes it collects. Florida is also outshining New York and other major population centers in tackling the soaring cost of housing.

☆ These 7 U.S. cities have the smallest wage gaps
▼ + stars: | 2023-03-09 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

Women out-earn men in just three U.S. cities, according to a new analysis of Census data from Smartasset, the personal finance site. The city, which has roughly 152,000 residents, also saw women's wages rise nearly 33% from 2017 to 2021, and the the wage gap narrowed by 26% during that time. Women's wages are near parity (within 1% to 2% of men's wages) in Oceanside, Calif.; Dallas; Oxnard, Calif.; and Denton, Texas. U.S. cities with the smallest gender wage gapsHollywood, Fla.: 104.76% Oakland, Calif.: 102.73% Springfield, Mass. The wage gap widened in the 10 largest U.S. cities, according to SmartAsset, with the biggest drop coming from San Antonio, Texas, where women went from earning 91 cents for every dollar earned by a man to 82 cents over the last four years.

☆ People who moved to Tennessee for cheaper homes and a laid-back life say they're happy — for the most part
▼ + stars: | 2023-02-26 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +10 min

The 50-year Florida resident decided to pack up and move to Memphis, Tennessee, for a more manageable mortgage payment while on a fixed income. Foster said clients have recently moved to Tennessee from New York, New Jersey, and California. He traded snowy Buffalo for the ease of southern livingMichael and Danielle Ekstrum moved to Tennessee after becoming empty nesters in 2018. A retiree fed up with California's overcrowding bought a home in Tennessee without thinking twiceMichael and Bonnie Tyler moved from Sacramento, California, to Jonesborough, a historic town in eastern Tennessee. "There's too much traffic, too many people, it's way too expensive, and there's no water," Tyler told Insider.

☆ 5 reasons so many people are moving to Tennessee, according to a 25-year-old broker who's helped Californians and New Yorkers relocate there
▼ + stars: | 2023-02-14 | by ( Jordan Pandy | ) www.businessinsider.com time to read: +5 min

Taxes are lowerPeople leaving states like California or New York often cite high income and property taxes as key motivations for their departure. (It's not all cheap: some new Floridians have been surprised by rising property taxes.) Like Florida, Tennessee has no income tax, as well as a property tax rate well below the national average. According to financial information and advice company SmartAsset, Tennessee's median annual property tax paid is $1,317, which is about half the national average. "One of the reasons why they're considering Tennessee is because of the affordability in terms of taxes," Foster said.

☆ How much money you have to make to be in the top 1% of earners in 10 US states
▼ + stars: | 2023-01-26 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

Households need an annual gross income of $597,815 to be considered the highest-earning 1% in the US. The threshold to make the 1% of top earners varies drastically by state. Connecticut, Massachusetts, and New York lead the list of the highest thresholds. The study found that eight of the 10 states with the highest 1% thresholds are located along the eastern and western coasts. Here's a roundup of the states with the highest and lowest income thresholds, respectively, needed to be the cream of the crop.

☆ Here's how much money you need to earn to be in the top 1% in every U.S. state
▼ + stars: | 2023-01-24 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

To be in the top 1% of earners in Connecticut, residents need an adjusted gross income of at least $955,261. However, in West Virginia, they only need to earn an AGI of $374,712 to be part of the top 1%. Coastal states like New York and California tend to have the highest earners, while top earners in more rural states like Mississippi and Arkansas make less. To calculate these numbers, the analysis updated 2018 income data from the Internal Revenue Service using 2022 Consumer Price Index data to account for inflation. States are listed in descending order, starting with the state with the highest income threshold for the top 1%.

Fourteen of the top 30 advertisers on Twitter stopped all advertising on the platform after Musk took charge on October 27, according to the Pathmatics estimates. Pathmatics said the previously unreported figures on Twitter advertising are estimates. read moreThe Pathmatics estimates show continued upheaval in Twitter's main revenue stream heading into 2023, led by a pullback from top consumer brands. Among consumer brands, Heinz ketchup maker Kraft Heinz Co(KHC.O) and Stouffers meal manufacturer Nestle SA (NESN.S) stopped all advertising, according to the Pathmatics estimates. Financial technology provider SmartAsset and Amazon.com Inc (AMZN.O) said Pathmatics estimates showing an increase in advertising were inaccurate.

Financial planner Martin A. Scott writes that a raise is an opportunity to make smart money choices. SmartAsset's free tool can find a financial planner to help you take control of your money »Get the latest tips you need to manage your money — delivered to you biweekly. A pay raise at work can provide someone who has higher-interest debt the option to expedite the process of paying it off completely. It is important for you to consult with a qualified professional on this topic as you get (and continue to) receive pay raises over time. As you continue to move into higher tax brackets, tax planning conversations (and strategies) should be discussed with a financial planner and/or tax professional, which can be of great benefit to your financial situation.

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