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Posted on April 15, 2021

Where Americans Are Most and Least Financially Literate – 2021 Edition

Where Americans Are Most and Least Financially Literate – 2021 Edition – SmartAsset

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Individuals with higher levels of financial literacy tend to adhere to better financial practices – such as having an emergency fund and planning for retirement – and are also more likely to build wealth further by investing in the stock market. Many Americans, however, lack financial knowledge and do not follow financial best practices. Less than 50% of American adults have set aside three months’ worth of emergency funds, only 41% have tried to figure out retirement savings needs and just 32% have investments apart from retirement accounts.

In light of Financial Literacy Month this April, SmartAsset took a closer look at financial literacy in the U.S. In this study, we discuss the growing number of states with financial education standards along with how adults fare when asked a series of economics and personal finance quiz questions. Using data from the Financial Industry Regulatory Authority (FINRA) Foundation, the Council for Economic Education and Experian, we then identify the states where residents are most and least financially literate. For details on our data sources and how we put all the information together to create our findings, check out the Data and Methodology section below.

Key Findings

  • A mismatch exists between perceived and tested financial literacy. The Financial Industry Regulatory Authority (FINRA) Foundation said in a recent national financial capability survey that roughly 71% of American adults believe they have a high level of financial literacy. However, when tested on personal finance topics, respondents struggle. On average, adults surveyed were able to answer only half of the literacy questions correctly.
  • Midwestern states perform well while Southern states fall behind. More than half of the 10 most financially literate states are in the Midwest: North Dakota, Minnesota, Nebraska, South Dakota, Kansas and Wisconsin. All of them rank in the top 10 states for our financial knowledge & education index. At the other end of the study, Southern states rank in the bottom 10: West Virginia, Louisiana, Georgia, Texas, Tennessee and Delaware. All of these except Tennessee rank in the bottom 20 states on our financial knowledge & education index.

Financial Education and Literacy in the U.S.

The number of states requiring that personal finance be included in their standards has grown substantially over the past two decades. According to data from the Council for Economic Education, only 21 states included personal finances in their K-12 standards in 1998, relative to 45 states in 2020. Notably, only some states additionally require that these standards be implemented by individual districts within the state. In 1998, 14 states required that personal finance K-12 standards be implemented, compared to 37 states in 2020.

Though the prevalence of financial education in the U.S. is growing, many adults struggle when asked to respond to questions covering fundamental concepts of economics and personal finance. The FINRA Foundation’s National Financial Capability Study asks respondents a series of six quiz questions, shown below. Multiple choice answers are shown below the questions. Correct answers are listed at the end of the study in the Data and Methodology section.

  • Mortgage Question: A 15-year mortgage typically requires higher monthly payments than a 30-year mortgage, but the total interest paid over the life of the loan will be less.
    a) True
    b) False
  • Interest Rate Question: Suppose you had $100 in a savings account and the interest rate was 2% per year. After 5 years, how much do you think you would have in the account if you left the money to grow?
    a) More than $102
    b) Exactly $102
    c) Less than $102
  • Inflation Question: Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. After 1 year, how much would you be able to buy with the money in this account?
    a) More than today
    b) Exactly the same
    c) Less than today
  • Risk Question: Buying a single company’s stock usually provides a safer return than a stock mutual fund.
    a) True
    b) False
  • Compound Interest in Debt Question: Suppose you owe $1,000 on a loan and the interest rate you are charged is 20% per year compounded annually. If you didn’t pay anything off, at this interest rate, how many years would it take for the amount you owe to double?
    a) Less than two years
    b) At least two years but less than five years
    c) At least five years but less than 10 years
    d) At least 10 years
  • Bond Price Question: If interest rates rise, what will typically happen to bond prices?
    a) They will rise
    b) They will fall
    c) They will stay the same
    d) There is no relationship between bond prices and the interest rate

On average, adults surveyed were able to answer only half (i.e. 3.0) of the above questions correctly. In fact, only 7% of adults were able to correctly answer all six questions. About 34% and 40% of surveyed adults were able to answer five and four questions, respectively. The compound interest in debt and bond price questions were the most difficult for respondents. Less than one in three respondents were able to correctly answer either question. Meanwhile, more than 70% of adults correctly answered both the mortgage and interest rate questions.

Notably, there are distinct differences in performance on the financial literacy quiz questions across different demographics according to education, income and race. The average number of correct quiz questions among individuals earning $75,000 or more and college graduates is 3.6 and 3.8, respectively. In contrast, individuals earning less than $25,000 and those with a high school education or less answered an average 2.2 and 2.3 questions correctly. The chart below breaks out survey respondents by race, showing the average number of correct answers for each group.

States Where Residents Are Most Financially Literate

North Dakota ranks as the state where residents are most financially literate, taking the top spot on our financial knowledge & education index and the third spot on our financial practices index. According to the Council for Economic Education, the state of North Dakota requires that personal finance coursework be integrated into another course in the K-12 curriculum. In 2018, residents correctly answered about 55% of the National Financial Capability quiz questions discussed previously – almost five percentage points higher than the national average.

Minnesota and New Hampshire follow closely behind North Dakota. Minnesota is the top-ranking state on our financial practices index and ranks fifth on our financial knowledge and education index. Minnesota residents have the highest average credit score (739) of any state and the eighth-highest percentage of adults who report paying their credit card bill in full monthly (58.04%).

Six of the remaining seven states where residents are most financially literate are located in the Midwest and West. They include Nebraska, South Dakota, Kansas and Wisconsin in the Midwest, plus Utah and Colorado in the West. All of these states require that personal finance be included in K-12 standards and survey adults rank within the top 12 of the study on FINRA’s financial literacy six-question quiz.

States Where Residents Are Least Financially Literate

West Virginia ranks as the state where residents are least financially literate, with the lowest financial knowledge & education index and third-lowest financial practices index. West Virginia ranks in the bottom five states for three of the seven individual metrics we considered: percentage of adults that believe they have a high level of financial knowledge (67.37%), average percentage of personal finance quiz questions answered correctly (46.79%) and percentage of adults with a three-month emergency fund (42.53%).

Like in West Virginia, Nevada residents fall particularly far behind on our financial knowledge and education index. Though the state includes personal finance in its K-12 standards, only about two in three adults believe they have a high level of financial knowledge, the ninth-lowest of all 50 states and the District of Columbia. Additionally, the average percentage of correctly answered economics and personal finance quiz questions for Nevada is 49.14%, ranking within the bottom 15 of the study.

Across the eight other states where residents are least financially literate, three are not in the South: Indiana, Alaska and Pennsylvania. Of those three, Indiana ranks lowest for both the financial knowledge and education category as well as the financial practices category. Across the seven metrics, Indiana ranks in the bottom five states for its percentage of adults with a three-month emergency fund (44.05%) and percentage of adults paying their credit card bill in full monthly (49.82%).

Data and Methodology

To find the states where Americans are most and least financially literate, we examined data for all 50 states and the District of Columbia across two categories that include seven individual metrics:

  • Financial knowledge and education. For our financial knowledge and education index, we analyzed the state’s financial education score, percentage of adults that believe they have a high level of financial knowledge and percentage of correctly answered personal finance quiz questions. The state’s financial education score comes from the Council for Economic Education. Data for the other two metrics comes from the Financial Industry Regulatory Authority (FINRA) Foundation’s 2018 National Financial Capability Study.
  • Financial practices. For our financial practices index, we analyzed average credit score, percentage of adults with a three-month emergency fund, percentage of adults paying their credit card bill in full monthly and percentage of adults regularly contributing to an IRA or 401(k). Average credit score figures come from Experian. Data for the other three metrics comes from the Financial Industry Regulatory Authority (FINRA) Foundation’s 2018 National Financial Capability Study.

We created our final rankings by first ranking each state for each individual metric. Then we averaged the rankings across the two categories listed above. For each category, the state with the highest average ranking got a score of 100. The state with the lowest average got a score of 0. Finally, we created our final ranking by finding each state’s average score across the two categories.

The answers to the FINRA Foundation NFCS quiz questions are as follows:

  • Mortgage Question – a) True
  • Interest Rate Question – a) More than $102
  • Inflation Question – c) Less than today
  • Risk Question – b) False
  • Compound Interest in Debt Question – b) At least two years but less than five years
  • Bond Price Question – b) They will fall

Tips for Improving Your Finances

  • Take advantage of compound interest. One of the most important things to note about saving is that it helps to start early. Waiting to invest can potentially decrease your total return on a potential investment. Compound interest is interest that’s generated from existing earnings. In other words, when you put money into a savings account earlier, the interest compounds. As a result, you earn interest on the money you initially invested as well as the interest that money has already made. To see how this works, take a look at our investment calculator.
  • Some kind of retirement account is better than none. If a 401(k) is not available through your job, consider an IRA. 401(k)s are often valued more than IRAs since there is a possibility that your employer will match your contributions to the plan up to a certain percentage of your salary. This means that if you choose not to contribute, you are essentially leaving money on the table. However, if your employer does not offer a 401(k) plan, an IRA is another great option. In 2020, the IRA contribution limit is $6,000 for people under 50 and $7,000 for people age 50 and older.
  • Consider working with a financial advisor. Investing and planning for retirement are complicated and difficult tasks. A financial advisor could help you manage your money smartly. SmartAsset’s free tool matches you with financial advisors in five minutes. If you’re ready to be matched with local advisors that may be able to help you achieve your financial goals, get started now.

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

Photo credit: ©iStock.com/Damir Khabirov

Stephanie Horan, CEPF® Stephanie Horan is a data journalist at SmartAsset. A Certified Educator of Personal Finance (CEPF®), she sources and analyzes data to write studies relating to a variety of topics including mortgage, retirement and budgeting. Before coming to SmartAsset, she worked as an analyst at an asset management firm. Stephanie graduated from Williams College with a degree in Mathematics. Originally from Philadelphia, she has always been a Yankees fan and currently lives in New York.
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Posted on April 8, 2021

Fastest-Growing and Fastest-Disappearing Jobs in Each State – 2021 Edition

Fastest-Growing and Fastest-Disappearing Jobs in Each State – 2021 Edition – SmartAsset

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It’s no secret that the U.S. unemployment rate peaked at 14.7% in April 2020, as a result of the COVID-19 outbreak — up from a pre-pandemic rate of just 3.5% in February 2020. As the job market continues to rebound with the vaccine rollout and the recent wave of federal aid, which could help many Americans prepare for financial emergencies and boost their savings, Americans looking to be strategic about their job searches would do well to examine employment trends over the last few years to see where the most robust opportunities may exist. Given that some sectors have seen more expansion while others shrank — with varied changes depending on location — SmartAsset took a closer look at the fastest-growing jobs and the fastest-disappearing jobs in each state.

This is the fifth version of SmartAsset’s study of the fastest-growing jobs in each state. Check out the 2020 version here.

To do this, we looked at information from the Bureau of Labor Statistics (BLS) for 2016 and 2020 for all 50 states. It should be noted that the 2020 data only partially accounts for the effects of the COVID-19 pandemic as responses were collected from November 2019 to May 2020. For details on our data sources and how we put all the information together to create our analysis, check out the Data and Methodology section below.

Key Findings

  • Education jobs are both increasing and disappearing, depending on location, but growth is more robust than decline. Jobs that fall within the broader category of education, training and library occupations comprise many of the fastest-growing and the fastest-disappearing jobs across the 50 states. These jobs are the fastest-disappearing job type in eight states and the fastest-growing job type in seven states. In the states where these are the fastest-disappearing jobs, they saw an average decline of 71.57% (with the steepest decrease at 82.61% for secondary school career/technical education teachers in Montana). In states where these are the fastest-growing jobs, they saw an average increase of 276.75% (with a high of 466.67% for postsecondary agricultural sciences teachers in Illinois).
  • Jobs are growing almost 4.5 times faster than they are shrinking. The average increase for the growing jobs in this study is 333.00%, while the average rate of shrinkage was only 74.89%.

The Fastest-Growing Jobs in Each State

Education is the leading industry for growing occupations nationwide (even though it is an industry that has seen steep decline in particular states). All told, seven states in this study have occupations in education at the top of their list. As an example, postsecondary nursing instructors make up the fastest-growing occupation in Alaska. In Nebraska, foreign language and literature teachers have grown faster than any other occupation, and in Oklahoma, archivists have outgrown all other jobs.

There are two different job types that are the fastest-growing occupations in multiple states. Bailiffs are the fastest-growing job in both Kansas and Maryland, while psychiatric technicians are the fastest-growing occupation in Nevada and New Jersey (as well as the District of Columbia).

The state with the top fastest-growing occupation is California, where the number of hoist and winch operators (who use these machines to lift and pull loads using power-operated cable equipment) has grown by more than 1,487%.

The Fastest-Disappearing Jobs in Each State

Office and administrative support occupations are the fastest-shrinking jobs in 10 different states. Some of the specific occupations that are shrinking include:

  • Meter readers for utilities in California
  • Word processors and typists in Delaware
  • Correspondence clerks in Florida
  • Proofreaders and copy markers in Washington
  • File clerks in New Hampshire

There are five other occupations which are the fastest-shrinking jobs in more than one state:

  • Photographic process workers and processing machine operators in Alabama, Ohio and Pennsylvania
  • Word processors and typists in Delaware, Missouri and Mississippi
  • Career/technical education teachers in Arizona and Montana
  • Bailiffs in Colorado and Utah
  • Library technicians in Vermont and Rhode Island

In Idaho, the number of demonstrators and product promoters has shrunk by more than 88%, the biggest drop in this study.

Data and Methodology

To find the fastest-growing and fastest-disappearing occupations for each state and the District of Columbia, we looked at employment data from 2016 and compared it to 2020. The 2020 data only accounts for the effects of the COVID-19 pandemic in part as responses were collected from November 2019 to May 2020. We filtered out any occupation for which the standard error for the estimated number of people employed in the occupation was greater than 20. We also filtered out any occupation with “other” in the title. To rank the occupations, we considered the percentage change in people employed in each occupation during this period.

All data, including earnings data, comes from the Bureau of Labor Statistics’ Occupation Employment Statistics.

Financial Planning Tips for Workers 

  • Need advice for a career change? If you are thinking about changing jobs, a financial advisor can help you manage multiple retirement accounts from different employers and create a financial plan to keep your retirement and investing goals on track. SmartAsset’s free tool connects you with financial advisors in five minutes. If you’re ready to be connected with  advisors get started now.
  • Taxes don’t have to be taxing. A career change may end up being what is best for some people. With that, you’ll likely have a new salary. See how much of it you can expect to give to the government using SmartAsset’s free tax calculator.
  • Use your budget to prepare for hard times. A budget can be a great tool for planning for unexpected expenses. You can use the budget to set up an emergency fund you can rely on if you lose your paycheck for a period of time.

Questions about our study? Contact press@smartasset.com. 

Photo credit: ©iStock.com/ablokhin

Ben Geier, CEPF® Ben Geier is an experienced financial writer currently serving as a retirement and investing expert at SmartAsset. His work has appeared on Fortune, Mic.com and CNNMoney. Ben is a graduate of Northwestern University and a part-time student at the City University of New York Graduate Center. He is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance (CEPF®). When he isn’t helping people understand their finances, Ben likes watching hockey, listening to music and experimenting in the kitchen. Originally from Alexandria, VA, he now lives in Brooklyn with his wife.
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Posted on March 25, 2021

How COVID-19 Has Impacted Long-Term Job Growth – 2021 Study

How COVID-19 Has Impacted Long-Term Job Growth – 2021 Study – SmartAsset

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While many economists believe that the U.S. economy will return to pre-pandemic levels by late 2021, they are less confident that the job market will bounce back as quickly. According to February data from the National Association of Business Economics, 82% of economic forecasters surveyed expect real GDP to return to pre-COVID-19 recession levels sometime in 2021. By contrast, only 59% of respondents anticipate the total number of workers (excluding farm workers) will return to pre-pandemic levels in 2023 or later. As Americans scramble to boost their savings and map out their job prospects during the pandemic, SmartAsset analyzed data from 720 occupations to project the long-term impact of COVID-19 on the job market.

In this study, we use data from the Bureau of Labor Statistics (BLS) to examine the coronavirus pandemic’s long-term impact on specific occupations. The BLS annually publishes 10-year growth projections for all industries and jobs in the U.S. After publishing 2019-2029 projections in the fall of 2020 that did not capture the effects of the pandemic, the BLS issued alternate scenarios that model how jobs might be impacted if COVID-19 continues to have either a moderate impact on the economy, or a strong one. We compare pre-pandemic and strong pandemic impact projections to determine the jobs that could be affected most positively or negatively by COVID-19. For details on our data sources and how we put all the information together to create our findings, check out the Data and Methodology section below.

Key Findings

  • Almost three million less jobs. Prior to the COVID-19 pandemic, the BLS projected that six million jobs would be added to the U.S. economy from 2019 to 2029. In their revised strong pandemic impact scenario, less than 3.1 million jobs will be added over that time. With a total of about 163 million workers in 2019, the strong pandemic impact scenario represents an almost two percentage point drop in the preliminary 10-year employment growth projection, from 3.7% to 1.9%.
  • About four in five jobs may experience lower 10-year job growth due to COVID-19. Of the total 720 occupations we considered, strong pandemic impact projections are lower than pre-pandemic estimates for 560 of them, or about 78%. BLS data shows there is no difference between pre-pandemic and strong pandemic impact projections for 50 jobs (6.94%) and that 110 jobs (15.28%) may see increased growth than previously expected.
  • Restaurant, lounge, coffee shop and bar jobs face the most uncertainty. The BLS’ moderate impact scenario assumes that increased remote work is the primary change in the U.S. economy. However, its strong impact scenario accounts for more widespread and permanent changes to consumer and business behavior, whereby both consumers and businesses continue to limit human interaction. As a result, many of the occupations with the largest negative differences between pre-pandemic and strong pandemic impact projections are concentrated in service industries. The three jobs with the largest decreases in expected job growth are restaurant, lounge & coffee shop hosts and hostesses (8.2% to -18.0%); bartenders (5.9% to -13.8%) and waiters and waitresses (3.7% to -12.9%).

Jobs Most Likely to Be Positively Affected

Two occupations that focus on the research of diseases – epidemiologists and medical scientists – rank as the jobs most likely to be positively affected. Prior to COVID-19, the BLS predicted that over the next 10 years the occupations of epidemiologists and medical scientists would grow by 4.6% and 6.1%, respectively. But now the BLS predicts that they will grow by 31.0% and 28.9%, respectively, in the moderate pandemic impact scenario and by 31.2% and 30.7%, respectively, in the strong pandemic impact scenario.

Three other life, physical & social science occupations rank in the top 10 jobs most likely to be positively affected, reflecting the likelihood that more lab research will continue over the next decade. They are biochemists & biophysicists, microbiologists and biological technicians. Projections for all three jobs were more than four percentage points higher in the moderate pandemic impact scenario and more than five percentage points higher in the strong pandemic impact scenario than pre-pandemic projections.

The expansion of remote work will drive demand for information technology (IT) and computer-related occupations, particularly ones involved in IT security, as noted by the BLS. With the change in demand, the remaining five occupations in our top 10 are all computer & mathematical occupations:

  • Information security analysts
  • Web developers and digital interface designers
  • Network and computer systems administrators
  • Computer network architects
  • Database administrators and architects

Information security analysts handle IT for a variety of business and financial companies. Computer network architects design and build communication networks, while network and computer systems administrators are responsible for the day-to-day operation of computer networks.

Jobs Most Likely to Be Negatively Affected

Job growth estimates dropped more than 10 percentage points for 12 jobs. Beyond the three service industry occupations listed above – restaurant, lounge & coffee shop hosts and hostesses; bartenders as well as waiters and waitresses – other jobs affected this drastically include receptionists, flight attendants and cashiers. Across all 12 jobs, flight attendants and restaurant cooks are the only two with expected positive job growth in the strong pandemic impact projections, despite the growth rate being lower than initially projected. Prior to COVID-19, the BLS predicted that over the next 10 years the occupations of flight attendants and restaurant cooks would grow by 17.3% and 23.1%, respectively. The BLS predicts that they will grow by 9.2% and 13.9%, respectively, in the moderate pandemic impact scenario and by 3.7% and 10.9%, respectively, in the strong pandemic impact scenario.

Notably, there are large differences between the moderate and strong pandemic impact scenarios for many of the jobs likely to be negatively affected. For example, in the strong pandemic impact scenario, the number of bartenders may decline by almost 14% from 2019 to 2029. By contrast, BLS projections show that the number of bartenders may only decline by 2.1% over the next 10 years in the moderate pandemic impact scenario. The table below shows the top 20 jobs most likely to be negatively affected by the continuation of COVID-19 and its economic effects.

Data and Methodology

Data for this report comes from the Bureau of Labor Statistics’ (BLS) employment projections. We considered initial 2019-2029 projections that do not account for COVID-19 along with two alternate scenarios: a moderate impact scenario and a strong impact scenario. The alternate scenarios identify occupations whose employment trajectories are subject to higher levels of uncertainty. The BLS does not intend them to be precise estimates of employment change over the projection period.

To rank the jobs most likely to be positively and negatively affected by COVID-19, we compared pre-COVID-19 pandemic and strong pandemic impact scenario projections for a total of 720 occupations. We calculated the percentage point difference between those two projections. A positive difference indicates that strong pandemic impact projections are higher than pre-COVID-19 pandemic projections and that those jobs are more likely to be positively affected. A negative difference indicates that strong pandemic impact projections are lower than pre-COVID-19 pandemic projections and that those jobs are more likely to be negatively affected. Though we did not use the moderate impact scenario numbers in ranking occupations, we used them qualitatively to evaluate less severe lasting effects of the pandemic on certain jobs.

Tips for Improving Your Savings in Preparation for a Financial Downturn

  • If possible, keep your budget top of mind. One of the best ways to save more, and bolster your emergency savings if you can, is through budgeting. Our budget calculator can help with this. Beyond looking at how much you spend each month and what six months of expenses would look like, you can see how cutting back on discretionary expenses can increase your savings rate.
  • Consider professional help. A financial advisor can help you make smarter financial decisions to be in better control of your money and navigate the current market. Finding a financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in five minutes. If you’re ready to be matched with advisors, get started now.

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

Photo credit: ©iStock.com/Blue Planet Studio

Stephanie Horan, CEPF® Stephanie Horan is a data journalist at SmartAsset. A Certified Educator of Personal Finance (CEPF®), she sources and analyzes data to write studies relating to a variety of topics including mortgage, retirement and budgeting. Before coming to SmartAsset, she worked as an analyst at an asset management firm. Stephanie graduated from Williams College with a degree in Mathematics. Originally from Philadelphia, she has always been a Yankees fan and currently lives in New York.
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Posted on March 23, 2021

Most Livable Small Cities in the U.S. – 2021 Edition

Most Livable Small Cities – 2021 Edition – SmartAsset

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Almost one in two Americans (48%, to be exact) prefer to live in a town or rural area, according to a 2020 Gallup survey – up from 39% in 2018. And while 27% still say that they want to live in a city, almost two-thirds of that group (16%) prefer a small city to a big one. The coronavirus crisis has also made places with low population densities more appealing, and small cities can offer the energy and creativity of urban life while boosting your savings in an affordable community. SmartAsset compared almost 300 cities with populations between 65,000 and 100,000 to identify and rank the most livable small cities in our 2021 study. 

We analyzed data from 291 cities across the following metrics: concentration of entertainment establishments, restaurants, bars and healthcare establishments, Gini coefficient (a measure of income inequality), home affordability, housing costs as a percentage of median income, percentage of residents below the poverty line, unemployment rate percentage of residents without health insurance and average commute time. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section below.

This is SmartAsset’s fourth study on the most livable small cities. Read the 2020 study here.

Key Findings

  • Midwest ranks at the top. Eight out of the top 10 cities in this study are located in Midwestern states, with two in Missouri, two in Wisconsin, two in Indiana and two in Iowa. All eight of these cities rank within the top 70 (out of a total 291) for strong home affordability and within the top 60 of all cities for their low Dec. 2020 unemployment rate. The other two spots in the top 10 are claimed by cities in New York and Texas.
  • Unemployment tracks nationally. In December 2020, the national unemployment rate was 6.7%. That’s the exact same as the average unemployment rate in the small cities we analyzed for this survey, so living in a small city doesn’t appear to be a major factor when it comes to the availability of work. The lowest unemployment rate we found was 2.1% in Ames, Iowa.

1. O’Fallon, MO

Just over 30 miles away from St. Louis, O’Fallon, Missouri leads our study as the most livable small city in America. The city ranks 11th for low income inequality, with a Gini coefficient of 0.36. In addition, it ranks 30th for its relatively low proportion of residents living below the poverty line, at 4.0%. Median housing costs equal just 16.93% of median household income in O’Fallon, ranking 19th for that metric in the study overall.

2. Oshkosh, WI

Oshkosh, Wisconsin is located 75 miles from Milwaukee and ranks 15th in our study for home affordability with a 2.39 ratio of home value to household income. County-level data shows that Winnebago County, where Oshkosh is located, has the highest concentration in the study of bars compared to all establishments (2.63%) and ranks 20th for entertainment establishments compared to all establishments (2.46%).

3. Sioux City, IA

Sioux City, Iowa ranks 11th for home affordability with a 2.25 ratio of home value to household income. This city also has the 14th-lowest unemployment rate in our study, at 3.4% in December 2020. According to county-level data, it also has the 11th-highest concentration of bars (1.29%).

4. Flower Mound, TX

Only 1.9% of Flower Mound residents live beneath the poverty line, the third-lowest rate for this metric in our study. The county in which this Texan city is located has the 14th-highest concentration of restaurants, 9.07% of all establishments. Median housing costs equal 17.43% of median household income in Flower Mound, the 21st-lowest ranking for this metric.

5. Eau Claire, WI

Eau Claire, Wisconsin has the third-highest concentration of bars in our study, at 1.89% of all establishments at the county level, and the third-fastest commuting time with an average length of 15.1 minutes. Eau Claire also ranks 22nd out of 291 for its high number of healthcare establishments, at 14.08% of all establishments.

6. Lafayette, IN

Lafayette, Indiana has the 13th-highest concentration of restaurants, at 9.13% of all establishments at the county level. This city also ranks 15th for its high concentration of healthcare facilities, at 14.30% of all establishments. But 14.6% of the residents in Lafayette live below the poverty line, ranking 200th out of all 291 cities we analyzed.

7. St. Charles, MO

Median housing costs amount to 16.33% of median household income in St. Charles, Missouri, ranking 15th in the study. St Charles has the 39th-highest concentration of healthcare establishments at the county level (13.44%) and the 55th-lowest Dec. 2020 unemployment rate (4.7%) – both top quintile rankings.

8. Ankeny, IA

Median housing costs in Ankeny, Iowa equal 15.72% of median household income, the seventh-lowest rate for this metric in the study. This city ranks 14th for its relatively high concentration of bars, making up 1.04% of all establishments, according to county-level data. But ranks 215th for its concentration of restaurants, which account for only 6.72% of all establishments at the county level.

9. Fishers, IN

Median housing costs equal 15.39% of median household income in Fishers, Indiana, ranking fifth for this metric out of all 291 cities we studied. The city had the second-lowest unemployment rate in the study, with just 2.7% in Dec. 2020. And only 2.5% of its residents live below the poverty line, 11th-lowest in this study.

10. Cheektowaga, NY

Cheektowaga, New York has a 7.6% unemployment rate for Dec. 2020 (the highest rate for this metric in the top 10). Despite this, only 3.3% of residents are uninsured (29th-lowest rate for this metric out of 291). Cheektowaga also ranks 19th for home affordability, with a 2.43 ratio of home value to household income.

Data and Methodology

To find the most livable small cities in America, SmartAsset compared 287 cities with at least 65,000 people but fewer than 100,000 across the following 10 metrics:

  • Concentration of entertainment establishments. This is the number of arts, entertainment and recreation establishments as a percentage of all establishments in a county. Data comes from the U.S. Census Bureau’s 2018 County Business Patterns Survey.
  • Concentration of bars. This is the number of bars as a percentage of all establishments in a county. Data comes from the U.S. Census Bureau’s 2018 County Business Patterns Survey.
  • Concentration of restaurants. This is the number of restaurants as a percentage of all establishments in a county. Data comes from the U.S. Census Bureau’s 2018 County Business Patterns Survey.
  • Concentration of healthcare establishments. This is the number of healthcare and social assistance establishments as a percentage of all establishments in a county. Data comes from the U.S. Census Bureau’s 2018 County Business Patterns Survey.
  • Gini coefficient. This is a statistical measurement of income inequality. A Gini coefficient of zero indicates total equality of wealth distribution, while a coefficient of one indicates total inequality of wealth distribution across groups. Data comes from the U.S. Census Bureau’s 2019 1-year American Community Survey.
  • Home affordability. This is the median home value divided by median household income. A lower ratio indicates that homes are more affordable and vice versa. Data comes from the U.S. Census Bureau’s 2019 1-year American Community Survey.
  • Housing costs as a percentage of household income. This is the median housing costs divided by median household income. Data comes from the Census Bureau’s 2019 1-year American Community Survey.
  • Percentage of residents below the poverty line. Data comes from the U.S. Census Bureau’s 2019 1-year American Community Survey.
  • Unemployment Rate. Data comes from the Bureau of Labor Statistics and is for December 2020. This is measured at the county level.
  • Percentage of residents without health insurance. Data comes from the U.S. Census Bureau’s 2019 1-year American Community Survey.
  • Average commute time. This measures a worker’s average commute time in minutes. Data comes from the U.S. Census Bureau’s 2019 1-year American Community Survey.

First, we ranked each city in each metric. Next, we found each city’s average ranking, with each metric receiving an equal weight. We used this average ranking to create our final scores. The city with the highest average ranking received a score of 100 and the city with the lowest average ranking received a score of 0.

It is important to note that our 2020 study on the most livable small cities in the U.S. did not include one of the metrics we used this year – the unemployment rate in each city. Due to the drastic changes in unemployment at the onset of the coronavirus pandemic, we decided to exclude that metric from last year’s analysis. We added it back into the equation for this year and considered the most recently available figures from the BLS, measured at the county level.

Tips for Managing Your Finances No Matter Where You Live

  • Professional advice can help you make the right moves. Interested in moving to one of these cities? A financial advisor can help you create a financial plan to reach your goals. SmartAsset’s free tool matches you with financial advisors in five minutes. If you’re ready to be matched with advisors that might be able to help you achieve your financial goals, get started now.
  • Forecast your mortgage costs. Buying a home is a serious proposition, and you need to make sure you are prepared. Use SmartAsset’s free mortgage calculator to see what your monthly payments could end up being.
  • Get a snapshot of your retirement timeline. For some people, work demands mean being in a big city for most of their career. In retirement, though, you may want to live a slower-paced life in a small city. Make sure you’re using a 401(k) or any other workplace retirement plan you have access to so that your retirement dreams can come true.

Questions about our study? Contact press@smartasset.com. 

Photo Credit: © iStock/DenisTangneyJr

Ben Geier, CEPF® Ben Geier is an experienced financial writer currently serving as a retirement and investing expert at SmartAsset. His work has appeared on Fortune, Mic.com and CNNMoney. Ben is a graduate of Northwestern University and a part-time student at the City University of New York Graduate Center. He is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance (CEPF®). When he isn’t helping people understand their finances, Ben likes watching hockey, listening to music and experimenting in the kitchen. Originally from Alexandria, VA, he now lives in Brooklyn with his wife.
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Posted on March 16, 2021

Fastest-Growing STEM Jobs in the U.S. – 2021 Edition

Fastest-Growing STEM Jobs in the U.S. – 2021 Edition – SmartAsset

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The COVID-19 pandemic has caused unprecedented job losses across many industries and occupations. However, STEM jobs have been less affected generally. The 2020 unemployment rates for all three STEM occupational categories were more than three percentage points lower than the overall rate (8.1%). Specifically, the average 2020 unemployment rates for computer & mathematical occupations, architecture & engineering occupations and life, physical & social science occupations were just 3.4%, 3.6% and 4.3%, respectively. Keeping in mind that these industries could offer more opportunities to find jobs and save money, SmartAsset identified the fastest-growing STEM occupations in 2021.

In this study, we looked at how long-term STEM job growth may be impacted by the COVID-19 pandemic and identified the fastest-growing STEM jobs in the U.S. We compared a total of 72 occupations across four metrics: percentage change in employment from 2015 to 2019, gross change in employment from 2015 to 2019, projected employment change from 2019 to 2029 and projected percentage change in employment from 2019 to 2029. For details on our data sources or how we put the information together to create our findings, check out the Data and Methodology section below.

This is SmartAsset’s second annual study on the fastest-growing STEM jobs in the U.S. Check out the 2020 version here.

Key Findings

  • Jobs with a computer and mathematical focus rank best again. Last year, seven of the top 10 fastest-growing STEM jobs fell under the category of computer & mathematical occupations. The same is true this year. The seven top-ranking computer & mathematical occupations include: information security analysts, statisticians, computer user support specialists, computer & information research scientists, computer system analysts, operations research analysts and actuaries.
  • Medical scientists and epidemiologists take top spots. With the COVID-19 pandemic placing a renewed emphasis on the research of human diseases, two occupations that fall within the physical & social science category rank in our top 10. In projections not accounting for the COVID-19 pandemic, the BLS predicted the occupations of medical scientists and epidemiologists would grow by 6.1% and 4.6%, respectively, over the next 10 years. By contrast, projections accounting for COVID-19 and its effects predict the two occupations will grow by upwards of 28% and 31%.

How Will STEM Be Affected by COVID-19 Long-Term?

Annually, the BLS publishes 10-year growth projections for all jobs in the U.S. After publishing 2019-29 projections in the fall that did not capture the effects of the pandemic, the BLS recently issued alternate scenarios that model how jobs could change if COVID-19 continues to have either a strong impact on the economy or a moderate one. Projections from the BLS show that STEM jobs may actually grow more quickly over the next 10 years than previously projected. The chart below maps pre-pandemic, moderate pandemic impact and strong pandemic impact projections for the three occupational categories of STEM jobs.

According to pre-pandemic estimates, computer and mathematical occupations were expected to grow by 12.1%. In the BLS’ moderate and strong pandemic impact scenarios, computer and mathematical occupations are expected to grow by 15.4% and 16.1%, respectively. Similarly, life, physical & social science occupations are expected to grow by three percentage points more in both alternate scenarios compared to initial projections. The table below shows how percentage growth figures map to expected changes in number of workers.

Taking into account both moderate and strong pandemic impact scenarios, the BLS predicts that in total there will be close to 1 million more STEM jobs in 2029 than there were in 2019. For a comparison, the BLS previously projected that the number of STEM jobs would have increased by about 730,400 from 2019 to 2029.

Computer and Mathematical Occupations

Information security analyst jobs lead the pack as the fastest-growing STEM jobs, moving up from the No. 2 spot last year. Between 2015 and 2019, the number of information security analysts grew by almost 36,700 workers, or 41.28%. This is the third-highest growth in number of workers and percentage change across all 72 STEM jobs in our study. According to BLS projections, the occupation of information security analysts will expand by about 42% from 2019 to 2029 with the addition of 55,200 new workers – the highest rate and second-highest gross increase in our study.

Statisticians, computer user support specialists, computer & information research scientists, computer system analysts, operations research analysts and actuaries are the other six computer & mathematical occupations ranking in our top 10. From 2015 to 2019, statisticians had the greatest percentage growth out of the six (about 31%), while computer user support specialists had the largest gross increase (almost 62,300 workers). The BLS predicts that over the next 10 years, the occupation of computer support specialist will continue to overtake computer systems analyst. It is expected to add 58,500 workers, which is the greatest 10-year expected growth in number of workers overall.

Architecture and Engineering Occupations

Industrial engineers are the only architecture & engineering occupation in our top 10 fastest-growing STEM jobs. From 2015 to 2019, the occupation grew roughly 44,100 workers, or 17.83%. That gross four-year change is the second highest in our study. Looking forward, the BLS expects the occupation of industrial engineer to grow by 10.9% in its moderate pandemic impact scenario. This growth would mark the addition of 32,200 new workers – the sixth-highest 10-year increase in number of workers in the study.

Three other types of engineers – mechanical, electrical and civil – rank in our top 20. From 2015 to 2019, civil engineers were the fastest-growing occupation out of the three. The number of civil engineers in the U.S. grew by more than 35,600, or almost 13%, over that time. However, the BLS expects mechanical and electrical engineering occupations to be in higher demand than civil engineering occupations over the next 10 years. From 2019 to 2029, the number of mechanical and electrical engineering jobs is expected to jump by 13,000 and 9,400 respectively, which is much higher than the 3,900 jobs projected for civil engineers over that same time frame. In percentage terms, those increases mark a 4.1% and 4.9% growth in mechanical and electrical engineering jobs, respectively, but only a 1.2% jump in civil engineering jobs.

Life, Physical and Social Science Occupations

Last year, medical scientist (not including epidemiologists) was the highest-ranking life, physical & social science occupation, tying for 10th place with architect (which excludes landscape and naval). It ranks second this year, with the separate epidemiologist job also ranking in our top 10. Across the four metrics we considered, both medical scientists and epidemiologists rank particularly well for their 10-year expected percentage growth. In the moderate pandemic impact scenario, the BLS expects medical scientist jobs to grow by 28.9% and epidemiologist jobs to grow by 31.0%.

Our top 25 includes 10 other life, physical and social science occupations. Biological technicians and forensic science technicians rank best out of the 10. Both occupations rank in the top half for all four metrics we considered. The occupation of biological technicians ranks particularly well for its four-year growth in number of workers (6,630) and 10-year expected growth in number of workers (8,200). The forensic science technicians occupation ranks higher for the two percentage change metrics, with the 11th-highest four-year percentage employment change (17.41%) and the 10th-highest 10-year expected percentage employment growth (14.0%).

Data and Methodology

The Bureau of Labor Statistics (BLS) defines science, technology, engineering and math (STEM) occupations as including computer & mathematical, architecture & engineering, and life & physical science occupations, as well as managerial and postsecondary teaching occupations related to those functional areas and sales occupations requiring scientific or technical knowledge at the postsecondary level. For the purposes of this report, we considered only occupations falling under the first three categories.

To find which STEM jobs are growing the fastest, we compared 72 BLS-defined occupations across the following four metrics:

  • Four-year percentage change. Data comes from the Bureau of Labor Statistics and is for 2015 to 2019.
  • Four-year growth in number of workers. Data comes from the Bureau of Labor Statistics and is for 2015 to 2019.
  • 10-year expected percentage growth. Projections come from the Bureau of Labor Statistics and is for 2019 to 2029. They account for a moderate pandemic impact.
  • 10-year expected growth in number of workers. Projections come from the Bureau of Labor Statistics and is for 2019 to 2029. They account for a moderate pandemic impact.

Using the four metrics above, we ranked each occupation in every metric, giving all metrics an equal weighting. We then found each occupation’s average ranking and used the average to determine a final score. The occupation with the highest average ranking received a score of 100. The occupation with the lowest average ranking received a score of 0.

Saving Tips for STEM Workers

  • Contribute to a 401(k) or IRA. One of the best ways to save is through a retirement savings account. A 401(k) is an employer-sponsored defined contribution plan in which you divert pre-tax portions of your monthly paycheck into a retirement account. Some employers will also match your 401(k) contributions up to a certain percentage of your salary, meaning that if you chose not to contribute, you are essentially leaving money on the table. Our 401(k) calculator can help you determine what you saved for retirement so far and how much more you may need. If your employer does not offer a 401(k) plan, an IRA is another great option.
  • Consider professional help. A financial advisor can help you make smarter financial decisions to be in better control of your money. Finding the right financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in five minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.

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

Photo credit: iStock.com/sanjeri

Stephanie Horan, CEPF® Stephanie Horan is a data journalist at SmartAsset. A Certified Educator of Personal Finance (CEPF®), she sources and analyzes data to write studies relating to a variety of topics including mortgage, retirement and budgeting. Before coming to SmartAsset, she worked as an analyst at an asset management firm. Stephanie graduated from Williams College with a degree in Mathematics. Originally from Philadelphia, she has always been a Yankees fan and currently lives in New York.
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Source: smartasset.com

Posted on February 27, 2021

‘House Party’ Podcast: Genius TikTok Hacks for the Home; Plus, Snooki’s ‘Beach Cabana Royale’ Makes Us Say, ‘Huh?’

After

“House Party” is realtor.com®’s official podcast about the overlapping worlds of real estate and pop culture, hosted by Natalie Way and Rachel Stults. Click the player above to hear our take on this week’s hot topics.

When we heard HGTV had released a new renovation show hosted by none other than Nicole “Snooki” Polizzi, it’s safe to say that we were all over it like tanning lotion on the Jersey Shore.

We knew very, very little about “Beach Cabana Royale” going in, so we grabbed our remotes (and a fun cocktail, of course), and prepared ourselves for a surprise on the shores of Atlantic Beach, NY.

And boy did we get it. We have so many questions about this special that packed an incredible amount of content into one mere hour. (Quick synopsis of the premise: Three designers renovate three family cabanas that are ultimately judged by “Flipping Virgins” host Egypt Sherrod and our old pal Orlando Soria, star of “Build Me Up.”)

We hope you’ll tune in to hear our take on the show—and much, much more on this week’s jam-packed episode.

Other topics we discuss:

Want more “House Party”? Subscribe on Apple Podcasts, Google Play Music, Spotify, or wherever you get your podcasts. And please: Throw us a five-star rating if you like what you hear. The more good ratings and reviews we have, the easier it is for people to find us.

Want to chime in? Have your own crazy home-related story you’re dying to share? We’re all ears, eagerly waiting to discuss all of your burning real estate questions on “The Mailbox” segment. Email us at podcast@realtor.com, follow us on Facebook and Instagram, or tweet us @housepartypod on Twitter.

Source: realtor.com

Posted on February 26, 2021

Messy Tahoe Home Filled With Mannequins Is the Week’s Most Popular Home>

A wild residence in South Lake Tahoe, CA, crammed with clutter—including dozens of dead-eyed mannequins dressed in evening wear—is the week’s most popular listing on realtor.com®.

The home ticked all the boxes for the kind of listing designed to be shared far and wide across the web. Unassuming exterior? Check. Listing details with no acknowledgment of the weirdness within? Check. Photos that defy easy description—and leave you with more questions than answers? Check!

Carefully posed throughout the house, with at least one mannequin sprawled across a rug wearing nothing, these eerie ladies—and at least one gentleman—serve a dual purpose. They force you to take a closer look at the listing for an otherwise humdrum duplex and serve to distract from the messy kitchen and bathroom.

The combination was enough to send the listing ricocheting on social media.

Bold move.

Mannequin mania
Mannequin mania

(realtor.com)

But that wasn’t the only off-the wall listing racking up clicks this week.

A Pennsylvania home with painstakingly customized interior touches—including rounded doorways, a honeycomb-style grand staircase, and floating light fixtures—grabbed your attention, as did a Disney-themed home in Disneyland’s home town.

Other popular picks this week included a pair of dreamy celebrity properties: the historic New Orleans home of a politically polar-opposite power couple, as well as A-lister John Travolta‘s 43-acre oceanfront Maine estate.

There’s a lot going on this week. Scroll on down through the list, and take it all in for yourself.

Price: $3,380,000
Why it’s here: No partisan bickering here. We love this house. The sellers, political consultants James Carville and Mary Matalin, are staying in NOLA but have decided to downsize from this 8,279-square-foot Colonial Revival home.

The massive home was built in 1906 and has been updated to perfection. The quarter-acre lot is described as a “tropical oasis,” filled with gardens, mature shade trees, a terrace, a pool, and fountains.

New Orleans, LA
New Orleans, LA

(realtor.com)

———

Price: $197,000
Why it’s here: This is for a buyer looking for something outside the box. Surrounded by 8 acres of privacy, it’s a legitimate, two-bedroom treehouse. There’s a fairly large caveat: The place isn’t finished.

The raised octagon has an open second floor, a deck, and a shop with kitchenette. The home is outfitted with electrical and septic systems and well service, but needs to be completed by a buyer with big dreams.

Cortland, OH
Cortland, OH

(realtor.com)

———

Price: $195,000
Why it’s here: Sitting on just over a half-acre at the top of a hill, this stone house from 1890 is a classic. The five-bedroom home comes with a four-car garage, lookout tower, original hardwood floors, curved interior walls, and updated bathrooms—for a combination of charm and convenience.

Ithaca, NY
Ithaca, NY

(realtor.com)

———

Price: $1,399,999
Why it’s here: This curious five-bedroom house is all angles and sharp edges from the outside, but the interiors were designed with curves in mind. The contemporary home features custom effects like the butterfly-wing entry staircase, rounded doorways, and floating light fixtures that suggest sand dollars from space.

Although it was designed for a very specific taste, the home, from 1987, is upscale, with a saltwater pool, kids playhouse, whole-house generator, and many upgrades.

Southampton, PA
Southampton, PA

(realtor.com)

———

Price: $535,770
Why it’s here: Known as the O’Leary mansion, this historic brownstone dates to 1890. It was built by James Patrick O’Leary for his mother, Catherine O’Leary—the woman considered to be responsible for the Great Chicago Fire of 1871.

Today, the four-level, 12-bedroom home is in need of repair and is being sold as is. It still has much of the original woodwork and moldings, as well as walk-in vaults and a two-story coach house.

Chicago, IL
Chicago, IL

(realtor.com)

———

Price: $700,000
Why it’s here: This hideaway on 11 acres is just steps from the Ice Age Trail, and includes a three-bedroom home built in 1991. Highlights include a large kitchen, a living room with cathedral ceiling, log beams, a stone fireplace, and wet bar.

There’s a heated shop off the garage, a private pond, a new roof, as well as a number of other recent upgrades.

Hartford, IL
Hartford, IL

(realtor.com)

———

Price: $255,000
Why it’s here: Although this storybook home hasn’t been featured on HGTV’s “Home Town,” that didn’t stop folks from clicking. Built in 1929, the three-bedroom residence recently had a stylish makeover, including new paint, windows, and refinished floors.

Laurel, MS
Laurel, MS

(realtor.com)

———

Price: $835,000
Why it’s here: Built in the shadows of Disneyland, this ranch home has been decked out as an homage to all things Mickey Mouse. Happiest Airbnb opportunity on Earth?

The custom Disney designs are so spectacular, the four-bedroom home was featured on the Discovery Channel. Besides the decor, the home includes a heated pool, custom carpets, and a toddler-safe playroom floor.

Anaheim, CA
Anaheim, CA

(realtor.com)

———

Price: $5,000,000
Why it’s here: This 48-acre oceanfront estate is being sold by actor John Travolta. The massive 20-bedroom mansion was featured in Architectural Digest in the 1990s and has been recently renovated.

The extraordinary property includes a deepwater dock, open fields with ocean views, a third-floor children’s space, and a detached barn used for car storage.

Islesboro, ME
Islesboro, ME

(realtor.com)

———

Price: $650,000
Why it’s here: Nondescript from the curb, this five-bedroom residence made waves this week, thanks to the mannequins staged throughout the property.

Most of the mannequins are dressed in evening gowns—adding to the mystique. Built in 1962, the place could use some work—and a lot of tidying up. There’s no word on whether the list price includes the mannequins and/or their glittery gowns.

South Lake Tahoe, CA
South Lake Tahoe, CA

(realtor.com)

Source: realtor.com

Posted on February 25, 2021

With Florida’s Luxury Market Sizzling, Here Are the State’s 10 Most Expensive Homes>

As the cold weather continues in most of the nation, temperatures in Florida are sizzling—and so is the real estate market.

It’s difficult to keep up with the dizzying pace of high-dollar deals in the Sunshine State.

To recap February thus far: Only a month after landing on the market for $140 million, a brand-new Palm Beach mansion wound up selling for $122.7 million. The golf legend Greg Norman’s cool compound on Jupiter Island recently listed for $60 million and has already landed an offer. David Tepper, the owner of the Carolina Panthers, just spent $73 million on a brand-new mansion—also in Palm Beach.

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Big money has migrated south, and Florida’s luxury market is off to a blistering start in 2021.

With multimillion-dollar mansions flying off the market, we wanted to take stock of what’s left at the top end of Florida real estate. And we have great news: For deep-pocketed buyers still on the sidelines, there are plenty of other opportunities to shine.

Plenty of mansions with enormous price tags are still out there. Slather on the SPF 50 and have a look at the 10 priciest places currently available in Florida.

Price: $115 million

Known as Gemini, this giant, 62,200-square-foot compound has both Atlantic Ocean and Lake Worth frontage, with 360-degree waterfront views. It’s been languishing on the market for years and was once listed for as much as $195 million back in 2016.

Built in 2002, it has plenty of space, with 33 bedrooms, 38 full bathrooms, and 14 half-bathrooms.

The main house has 12 bedrooms, each of the four cottages on the beach has two bedrooms, another house has seven, and of course there are guest and staff houses.

For fun, owners and guests can choose a bottle of wine from the wine cellar, swim in the pool, putt on the PGA standard golf area, hit some balls on the tennis court, play basketball, work out in the gym, or relax in the spa.

To relax, you can stroll through the botanical gardens, which feature 1,500 species of tropical plants.

2000 S. Ocean Blvd, Manalapan, FL
2000 S. Ocean Blvd, Manalapan, FL

realtor.com

———

Price: $110 million

Built in 2003, this 28,399-square-foot Mediterranean mansion on Billionaires’ Row has seven bedrooms, nine bathrooms, and six half-bathrooms.

It sits on 2 acres right on the ocean, with an ivy-covered, cloistered courtyard surrounding the pool.

1341 S. Ocean Blvd, Palm Beach, FL
1341 S. Ocean Blvd, Palm Beach, FL

realtor.com

———

Price: $95 million

If you want a bit more space, how about your own island? Known as Pumpkin Key, the 26-acre island sits in Card Sound Bay in the Florida Keys, near Key Largo.

It’s a short helicopter ride away from Miami and a brief boat ride to shore.

Right now, there’s a 5,000-square-foot, three-bedroom home on the island, which was built in 1985. It has loads of entertaining space, with an indoor-outdoor feel and a huge pool.

There are also two caretaker’s cottages and a dock master’s apartment near a 20-slip marina that can handle megayachts.

The island’s landscape is lush, and there’s room for several more homes. Tennis courts in the center of the island also serve as a helipad.

10 Cannon Pt, Key Largo, FL
10 Cannon Pt, Key Largo, FL

realtor.com

———

Price: $84 million

Completed this year, this brand-new, 18,000-square-foot mansion also sits on Billionaires’ Row.

Inspired by the homes in Bermuda, this estate offers 175 feet of direct oceanfront. It has seven bedrooms with ocean views, as well as two kitchens and oversize living spaces.

The lower level has a wine cellar with room for 4,000 bottles, a home theater, and a fitness center. Guests can stay in the two-bedroom guesthouse.

901 N Ocean Blvd, Palm Beach, FL
901 N Ocean Blvd, Palm Beach, FL

realtor.com

———

Price: $78.5 million

This 7,686-square-foot contemporary home is on a large lot at the tip of Palm Beach, with views of Palm Beach Inlet.

Built in 2020, the seven-bedroom home has water views of both the ocean and the inlet. Outside is an infinity pool along with tons of outdoor patio space.

Inside, luxe amenities include a theater room, a sauna, and gym—all with a modern feel.

149 E. Inlet Dr, Palm Beach, FL
149 E. Inlet Dr, Palm Beach, FL

realtor.com

———

Price: $56 million

Never lived in, this 17,190-square-foot home was completed in 2019. The two-story contemporary residence has an abundance of natural light, with doors that open to allow for cross breezes and indoor-outdoor living.

Dubbed Lago-a-Lago, the six-bedroom house is being offered fully furnished. For aquatic aficionados, there are docks in both the front and back yard.

520 Island Dr, Palm Beach, FL
520 Island Dr, Palm Beach, FL

realtor.com

———

Price: $49.9 million

Sitting on a V-shaped point on Biscayne Bay, this nearly 19,000-square-foot house, finished in 2018, has a dazzling modern design and views of the open ocean and downtown Miami.

Walls of glass showcase the views and allow for a seamless transition between indoors and outdoors. The highlight of the outdoor space is a gorgeous glass mosaic pool with an artistic pattern.

The eight bedrooms include a master suite with a grand entrance, a custom dressing room, and a spa bathroom.

The boat dock is 140 feet long and can accommodate a megayacht of up to 200 feet. Meanwhile, the captain of your yacht can enjoy the captain’s quarters.

41 Arvida Pkwy, Coral Gables, FL
41 Arvida Pkwy, Coral Gables, FL

realtor.com

———

Price: $49.5 million

Nestled among the stark white modern homes on Palm Beach’s Billionaires’ Row is La Salona—a mansion built in 1928.

With its 19,434 square feet of living space on almost an acre, this Mediterranean beauty has belonged to the same owner for three decades.

The house boasts 16 bedrooms and includes a three-bedroom apartment on the first floor and another three-bedroom apartment on the second floor.

172 S. Ocean Blvd, Palm Beach, FL
172 S. Ocean Blvd, Palm Beach, FL

realtor.com

———

Price: $48.5 million

Surrounded by 674 species of trees and plants, this 13,465-square-foot estate measures 2.38 acres.

Built in 2007, the two-story home has 245 feet of waterfront and direct access to Biscayne Bay and the Atlantic Ocean. And of course, the private dock can handle a large yacht.

Inside, the 12 bedrooms and nine full bathrooms each have unique design features. The compound also has its own chapel, wine cellar, and home theater.

8901 Arvida Ln, Coral Gables, FL
8901 Arvida Ln, Coral Gables, FL

realtor.com

———

Price: $46.75 million

The ocean is the backyard at this 17,370-square-foot Mediterranean estate. Built in 1991, the seven-bedroom home offers a master bedroom on the main floor and plenty of living space.

The interior is ornate, with plenty of Old World charm, combined with modern conveniences.

It’s located in the exclusive Seminole Landing neighborhood, and could potentially be subdivided to allow for the development of a family compound or additional structures.

12210 Banyan Rd, North Palm Beach, FL
12210 Banyan Rd, North Palm Beach, FL

realtor.com

Source: realtor.com

Posted on February 25, 2021

Cities With the Youngest Workforces – 2021 Edition

Cities With the Youngest Workforces – 2021 Edition – SmartAsset

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While Baby Boomers and Generation X are now the bosses at many companies, more than 25% of the workforce is younger than 30. This means that Generation Z (born between 1997 and 2012) and millennials (born between 1981 and 1996) are emerging as the generations to soon comprise the largest percentage of workers.

Starting your career at a young age provides more time to build up your savings and create a retirement plan with a financial advisor. Some cities offer younger workers more opportunities for gainful employment and SmartAsset crunched the numbers to find out where younger employees make up the biggest percentage of the local workforce.

To do this, we studied data on the 100 largest cities in the U.S., analyzing the number of workers younger than the age of 30 as a percentage of total workers. For details on our data sources and how we put all the information together to create our final rankings, check out the Data and Methodology section below.

This is SmartAsset’s second annual study on the cities with the youngest workforces. You can read our 2020 edition here.

Key Findings

  • Cities with youngest workforces dominate in education, healthcare and social assistance. More than 27% of workers in our top 10 cities have jobs in educational services, healthcare and social assistance. This means that across the top 10, these industries attract or have opportunities for almost six times more workers than construction, almost four times more than manufacturing, almost three times more than retail and almost four times more than finance and real estate. One notable exception is Norfolk, Virginia: The world’s biggest naval base employs almost 21% of the city’s workforce in the armed forces (compared to less than 19% in education, healthcare and social assistance).
  • Midsize cities attract the youngest workforces. Midsize cities beat out the biggest cities in the top 10 of this study. Even with an average 29-and-younger workforce of about 73,000 (compared to 368,000 across the largest 10 cities in the study), the cities in the top 10 have workforces comprised of about 36% younger workers. This average is only 28% across the largest 10 cities.

1. Norfolk, VA

With a workforce of almost 42% that is younger than 30, Norfolk, Virginia ranks at the top of our list. This city also has the fifth-highest workforce participation rate for younger workers in our study, at 80.4%. One of the major drivers behind the city’s employment of people in this age group is the naval base, which is the largest in the world. Our study reveals that almost 21% of all Norfolk workers are employed by the armed forces.

2. Madison, WI

Home to the University of Wisconsin, Madison has 38.93% of its workforce made up of people ages 16 to 29. The labor force participation rate for this age group is 74.8%, 25th-highest in our study. Education, healthcare and social assistance industries are the biggest employers in Madison, comprising 32.57% of the total workforce.

3. Lubbock, TX

Lubbock, Texas is yet another college town, the home of Texas Tech. People ages 16 to 29 make up 37.79% of the workforce in this city. But the workforce participation rate for this cohort is only 66.3%, ranking 80th out of 100 in our study. The relatively low figure for this metric could be impacted by the large university population, which, although eligible for the workforce, is largely unemployed during its student tenure.

4. Lincoln, NE

Lincoln is the home of the University of Nebraska. This city has a total of 166,354 workers, and 59,184 are younger than 30 – making up 35.58% of the workforce. Education, healthcare and social assistance are the biggest industries in the city, employing just over 27% of all workers. Retail is also a major industry in the city, hiring 10.85% of the workforce.

5. Pittsburgh, PA

Pittsburgh, Pennsylvania used to be dominated by steel production. But now, the University of Pittsburgh Medical Center is the major employer. In fact, education, healthcare and social assistance jobs make up 32.03% of the city’s workforce. And workers ages 16 to 29 make up 35.25% of the total workforce.

6. Tucson, AZ

Tucson, Arizona has 98,591 workers younger than 30, with a workforce participation rate of 69.2% for that age group. People ages 16 to 29 represent 35.22% of total workers in this city.

7. Boston, MA

Boston, Massachusetts has the biggest workforce in the top 10 of this study, with 426,238 workers. And 149,695 of that force is younger than 30, meaning that 35.12% of the total workforce in Beantown is 16 to 29. Boston is another city where education, healthcare and assistance services dominate, employing 31.17% of the workforce.

8. Cincinnati, OH

Younger workers make up almost 35% of the total workforce in Cincinnati, Ohio. The number of workers ages 16 to 29 is 57,014, and their labor force participation rate is just over 70%. Education, healthcare and social assistance are the biggest industries, employing just over 27%. But manufacturing remains important in Cincinnati, accounting for 10.62% of the workforce.

9. Minneapolis, MN

Minneapolis has the seventh-highest labor force participation rate for workers younger than 30 in our study – almost 80%. Overall, younger people (ages 16 to 29) make up 34.87% of the workforce in the city. Almost 27% of those employed in Minneapolis work in education, healthcare and social assistance, with retail comprising more than 10%.

10. Richmond, VA

Richmond, Virginia claims the 10th spot on our list, with a labor force participation rate of just over 78% for people ages 16 to 29. This age group makes up more than 34% of the city’s total workforce. More than 24% of the city’s total workforce is employed by education, healthcare and social assistance.

Data and Methodology

To find the cities with the youngest workforces, we examined data on the 100 largest U.S. cities. Using population data and labor force participation rates from the Census Bureau’s 2019 1-year American Community Survey, we found the percentage of the workforce younger than the age of 30 (i.e. between 16 and 29 years old) in each city. Cities with the highest percentages of younger workers ranked at the top of the list, and those with the lowest percentages of younger workers ranked at the bottom of the list.

Tips for Managing Your Money at the Start of Your Career

  • It’s never too early to invest in expert advice. Even if you’re younger, it may make sense to find a financial advisor help with your money. Finding the right financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in five minutes. If you’re ready to be matched with advisors, get started now.
  • The key to retirement savings is to start as soon as possible. If you have access to a workplace retirement savings program like a 401(k), make sure you take advantage of it.
  • Double-check your paycheck. Knowing how much money you make after taxes is key to financial planning. Use SmartAsset’s free paycheck calculator to see what you’ll actually see on your check after everything is taken out.

Questions about our study? Contact press@smartasset.com. 

Photo Credit: © iStock/fizkes

Ben Geier, CEPF® Ben Geier is an experienced financial writer currently serving as a retirement and investing expert at SmartAsset. His work has appeared on Fortune, Mic.com and CNNMoney. Ben is a graduate of Northwestern University and a part-time student at the City University of New York Graduate Center. He is a member of the Society for Advancing Business Editing and Writing and a Certified Educator in Personal Finance (CEPF®). When he isn’t helping people understand their finances, Ben likes watching hockey, listening to music and experimenting in the kitchen. Originally from Alexandria, VA, he now lives in Brooklyn with his wife.
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Source: smartasset.com

Posted on February 25, 2021

8 Last-Minute Items for a Stay-at-Home Valentine’s Day You’ll Love

These days it seems like time has no meaning, so it may come as a surprise that Valentine’s Day is right around the corner. While it’s a bit of a challenge to make date night at home special when you’re home every night, we’re here to help.

To help get this year’s celebrations off the ground, we’ve rounded up eight sweet (and savory) must-haves for the ultimate at-home Valentine’s Day—whether that means staying in with your pod, or wooing your love over a homemade dinner. You’ll probably have to opt for rush shipping at this point, pick up from a local store, or just stock up for next year. Here’s everything you need to ring in the day of love the right way.

1. DIY ravioli kit

DIY ravioli kit
DIY ravioli kit

Williams Sonoma

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If you’re looking for a way to upgrade dinner plans for your date, look no further than this DIY ravioli kit ($45) from Williams Sonoma.

“When my wife and I first started dating, one of our favorite haunts was Magnolia Café in downtown Austin,” says Darren Bogus of Shop LC. “One night she had these mushroom raviolis that I’ve spent the next decade trying to replicate for her.

“Ingredients are pre-measured in this kit, so it’s really easy to start making dinner together,” Bogus adds. “Keep in mind you’ll need to pick up a couple of other ingredients, but it’s totally worth the effort.”

2. Mystery game (for adults)

Murder mystery game
Murder mystery game

Etsy

Looking to turn up the heat with your valentine? Then you might just want to check out this “Murder Mystery Date Night: Emergency Room” game ($14) from Etsy. Part murder mystery, part role play, this downloadable, printable game might just be one of the best ways to spend the night indoors with your date.

3. Cozy faux fur throw

Pinzon faux fur throw blanket
Pinzon faux fur throw blanket

Amazon

Whether you and yours plan on cozying up on the sofa or having a picnic in front of the fire, it’s always good to have an extra soft (and chic) throw blanket like this Pinzon faux fur throw ($30, Amazon).

“Make some delicious truffle popcorn and cozy up together under this blanket to watch your favorite romantic comedies,” says Michelle Harrison-McAllister of Michelle Harrison Design.

4. S’mores kit

MalloMe marshmallow roasting forks, with s'mores
MalloMe marshmallow roasting forks, with s’mores

Amazon

If a roaring fire is in your Valentine’s Day plans, then you’re going to want a few of these really cute (and practical) telescoping marshmallow forks ($10 at Amazon).

“S’mores always makes us think of campfires,” says Bogus. “If you can’t camp out, then indulge in personalized skewers and load up the yummy marshmallows.”

It’s probably too late to get these customized marshmallow sticks, but you can still put together a special s’mores kit for the two of you—or for the family.

5. His-and-her mugs

Mugs by Olivia & Oliver®
Mugs by Olivia & Oliver®

Bed Bath & Beyond

Cold nights inside call for strong, hot drinks, and maybe it’s just us but they always seem to taste better in a cute mug—one for each of you, like in this set ($12, Bed Bath & Beyond).

“There is simply no better way to enjoy your hot cocoa or morning cup of coffee on Valentine’s Day than in a cheeky mug,” says Harrison-McAllister.

Whether you’re newlyweds, or looking to pop the big question to your valentine this year, the spiked hot cocoa will certainly taste sweeter in one of these.

6. Gourmet milk frother

Dualit hot and cold milk frother
Dualit hot and cold milk frother

Kohl’s

Speaking of hot cocoa, treat your valentine to the ultimate hot delicious drink this year by investing in one of these Dualit hot and cold milk frothers ($118) from Kohl’s.

“A staple for every at-home coffee bar,” says Harrison-McAllister. “A milk frother like this one can really bring your hot chocolate and coffee game to the next level.”

Satisfy your date’s sweet tooth with a night of creamy cocktails and rich dessert drinks.

7. Bourbon sampler

Bourbon sampler
Bourbon sampler

Williams Sonoma

If your valentine prefers cocktails over hot cocoa, then you’re going to love this bourbon sampler gift set ($35) from Williams Sonoma.

“Surprise him with a crate filled with bourbon samples, and let his taste buds take him on a journey around the world,” says Harrison-McAllister.

8. Whipped cream dispenser

Cream whipper
Cream whipper

Wayfair

While this fancy kitchen must-have will undoubtedly come in handy for just about any dessert made better by fresh whipped cream (aka every dessert), it’s an especially great addition for such a sweets-centered holiday.

“Morning waffles will be even more elegant with your own whipped cream dispenser, making your kitchen feel like a private bakery,” says Harrison-McAllister.

Morning waffles or evening activities, the possibilities with this red cream whipper ($98) are truly endless.

Source: realtor.com

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