Latest news with #U.S.Census
Yahoo
13 hours ago
- Business
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How Long $1 Million in Retirement Will Last in Every US Region
In the movie 'Austin Powers: International Man of Mystery' it comes across as comedic when the main villain, Dr. Evil, says his ransom price for the world is $1 million. His assistant, Number Two, chimes in to say that $1 million isn't enough. What makes Dr. Evil's initial ask so funny is not only the way he dramatically accentuates each syllable, but the absurdity of such a low ask. Even in 1997, we understood that in this save-the-world scenario, $1 million was a preposterously little amount of money. Find Out: Read Next: What does any of this have to do with retirement? Well, if you're retiring in the U.S. at age 65, and aiming to live another 35 years, or so, you'll see, once you do the math, that $1 million in the bank likely isn't going to be enough. Of course, how long the money will last you depends not only on how, but on where you live. In a new study, GOBankingRates analyzed the four regions of the U.S. to determine how many years it will take to draw down $1 million in retirement savings. The regions are ranked from where this money will last the shortest to the longest amount of time. States that make up this region: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington and Wyoming Average value of a single-family home: $538,990 Annual cost of living: $62,910 Average amount of years $1 million in retirement savings will last: 15.90 Check Out: States that make up this region: Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont Average value of a single-family home: $478,486 Annual cost of living: $58,686 Average amount of years $1 million in retirement savings will last: 17.04 States that make up this region: Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia Average value of a single-family home: $326,042 Annual cost of living: $45,263 Average amount of years $1 million in retirement savings will last: 22.09 States that make up this region: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin Average value of a single-family home: $276,787 Annual cost of living: $41,797 Average amount of years $1 million in retirement savings will last: 23.93 Methodology: For this study, GOBankingRates analyzed the four regions of the U.S. as defined by the U.S. Census and Bureau of Labor Statistics as Northeast; CT, ME, MA, NH, NJ, NY, PA, RI, and VT. South as; AL, AR, DE, DC, FL, GA, KY, LA, MD, MS, NC, OK, SC, TN, TX, VA, and WV. Midwest as; IL, IN, IA, KS, MI, MN, MO, NE, ND, OH, SD, and WI. West as; AK, AZ, CA, CO, HI, ID, MT, NV, NM, OR, UT, WA, and WY. Using these regions the total population, population ages 65 and over, total households, and household median income were sourced from the U.S. Census American Community Survey. The cost of living indexes were sourced for each state using the Missouri Economic and Research Information Center and using the region definitions of the states, the cost of living index for each region and category can be calculated. Using the average expenditure costs for retired households, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for Retired Consumer Units, the average expenditure cost for each region can be calculated. Using the average single-family home value for each state, the average for the entire region can be calculated. Assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated. The average mortgage and expenditure costs can be used to calculate the average total cost of living. The time to draw down $1,000,000 in retirement savings can be calculated using the total cost of living with the states sorted by the longest to shortest time to draw down. All data was collected on and is up to date as of May 27, 2025. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 25 Places To Buy a Home If You Want It To Gain Value This article originally appeared on How Long $1 Million in Retirement Will Last in Every US Region Sign in to access your portfolio
Yahoo
19 hours ago
- Business
- Yahoo
How family-friendly is your city? This North Texas city ranks No. 3 for raising a family
A Texas city is among the most family-friendly in the country. But it's not Austin, or Dallas, or San Antonio. The average American moves nearly 12 times in a lifetime, according to U.S. Census data. This happens for a variety of reasons, both positive (such as getting a new job) and negative (like facing foreclosure on a home). In times of financial and/or occupational uncertainty, families are more likely to seek relocation to somewhere with a relatively low cost of living. To determine where families may be inclined to move, WalletHub published a survey comparing over 180 U.S. cities across 45 key factors, from the cost of housing to the quality of local school and healthcare systems to opportunities for fun and recreation. "Finding the best place to raise a family is difficult, between balancing an affordable cost of living with good educational opportunities, safety and enough recreation to keep kids entertained," WalletHub analyst Chip Lupo said. "On top of all of these factors, people also often want to raise their children close to their extended family. Therefore, current or prospective parents can benefit from narrowing down their choices to a few of the best cities that are within a reasonable drive of their family." Can you guess which Texas city made the top three for family friendliness? Here's how your city compares. Austin summer on a budget: Free concert series, museums, more wallet-friendly activities A North Texas city in the Dallas-Fort Worth metro area was named the third-most family-friendly city in the country, according to WalletHub. Plano stood out among cities for its safety, having the tenth-lowest violent crime rate and the 29th-lowest property crime rate. It also had a low traffic fatality rate. In the education sphere, Plano has the ninth-largest share of schools (over 55%) with a rating of at least 7 out of 10. It also claimed the fifth-highest high school graduation rate. Total score: 68.55 Family fun rank: 75 Health and safety rank: 5 Education and childcare rank: 19 Affordability rank: 6 Socioeconomics rank: 2 Source: WalletHub Besides Plano, three other cities in the Lone Star State ranked in the top 10 in various categories. Austin ranked eighth in affordability, while Irving ranked 10th in socioeconomics. Dallas ranked ninth in family fun. Houston tied with New York, Los Angeles, Chicago, San Diego and San Francisco in offering the most attractions among all cities in the study. H-Town also had the fifth-most playgrounds per capita. Las Vegas, Chicago, New York and Cincinnati all tied for having the most playgrounds. Out of all the cities analyzed, Laredo had the largest share of families with young kids, topped only by Gilbert, Arizona. Not all Texas cities were considered family-friendly across the board. Brownsville tied with Rochester, New York for having the third-largest share of families who live below the poverty line. Detroit and Cleveland had the first- and second-largest share, respectively. Although Houston offers numerous playgrounds and attractions, it ranked near the bottom (169) in the health and safety category. Overall rank City Family fun rank Health & safety rank Education & child care rank Affordability rank Socioeconomics rank 3 Plano 75 5 19 6 2 16 Austin 83 92 27 8 40 75 Grand Prairie 47 59 165 98 43 77 Amarillo 81 129 85 74 48 90 Fort Worth 59 106 157 69 69 92 Laredo 69 82 23 151 116 101 Arlington 72 99 149 99 59 103 Irving 172 76 146 86 10 105 Garland 144 78 135 127 29 110 El Paso 20 94 104 155 124 118 Brownsville 89 134 31 154 126 121 Lubbock 111 154 65 96 115 136 Dallas 9 140 108 132 107 144 Houston 33 169 121 131 135 147 Corpus Christi 160 130 130 119 84 152 San Antonio 80 163 128 126 131 As evident in Houston's rankings, having a high rank in family fun often did not coincide with high rankings in other categories and vice versa. The overall top three cities to raise a family in did not make the top 50 for family fun. South Burlington, Vermont ranked the best in education and child care but landed near the bottom in terms of family fun. The inverse was also true. Las Vegas, for example, topped the family fun ranking but came in 151st for education and child care. Los Angeles, ranked No. 2 in family fun, is also 172nd in affordability. City, state Total score Family fun rank Health & safety rank Education & child care rank Affordability rank Socioeconomics rank Fremont, CA 73.53 86 4 2 9 1 Overland Park, KS 71.66 102 18 10 1 3 Plano, TX 68.55 75 5 19 6 2 Irvine, CA 68.50 31 3 3 52 11 South Burlington, VT 65.07 163 108 1 10 17 Seattle, WA 64.93 71 93 11 7 14 Boise, ID 64.86 18 26 30 28 18 Gilbert, AZ 64.69 70 16 50 14 4 Bismarck, ND 64.57 117 32 64 4 9 San Diego, CA 64.39 5 21 12 82 30 City, state Total score Family fun rank Health & safety rank Education & child care rank Affordability rank Socioeconomics rank Memphis, TN 34.07 153 181 168 158 169 Detroit, MI 34.10 49 173 180 156 182 Cleveland, OH 34.89 100 172 173 163 181 Gulfport, MS 37.67 113 158 179 165 159 Newark, NJ 38.07 170 88 53 180 177 Birmingham, AL 38.23 124 170 167 148 174 Baltimore, MD 39.06 157 148 166 118 178 San Bernardino, CA 39.26 22 168 172 178 136 Jackson, MS 39.57 76 180 127 161 167 Hialeah, FL 39.78 176 40 59 182 149 This article originally appeared on Austin American-Statesman: This Texas city ranks as the 3rd most family-friendly city in the US
Yahoo
2 days ago
- Business
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The Post seeks your questions about aging, healthcare and ways to finance it
The explosion is coming: The number of people 85 and older will nearly double in the next 10 years, according to the U.S. Census and, unless there's a miracle that halts aging, it's likely to increase the demand for healthcare like never before. Early signs foretell that the cost of medical care and living into advanced age with the right support is going to be an expensive proposition, fraught with complex and costly decisions. Medical service inflation is increasing faster than the general inflation rate: by 3.1% compared with the general inflation rate of 2.3%, according to the U.S. Bureau of Labor Statistics. The golden years might start looking a little less shiny, even for people who have saved their entire lives to enjoy this tropical paradise. The costs of long-term care, should one need it, can destroy generational wealth. A recent survey from CareScout, an information network of long-term care providers, found that the cost of a private room in a Miami-area nursing home averages about $12,714 a month. It's an expense most haven't saved for and don't have any idea how much it's going to cost, according to KFF, a national health policy research group. Looming in the background: Pressure to change Medicaid, which provides healthcare for the poorest residents and funds about 62% of Florida's nursing home residents and a labor shortage of people willing to do the lowest-level medical support jobs that involve bedpans, laundry and home help. Trying to navigate a complex and costly healthcare system in a world that's speeding up can be frustrating. These issues and others are why The Palm Beach Post is starting a new series of health columns focused on navigating the financial and physical challenges likely to emerge as more and more people reach advanced age and their children confront a reality there's no preparing for. We want to hear what questions you have as you and your loved ones enter new territory. Post insurance reporter Anne Geggis will take your questions about the ways to plan for living the best life even into advanced years. Geggis has more than 10 years' experience covering health and health governance, first at the Daytona Beach News-Journal, where she won the national Society of Professional Journalist's Sunshine Award, and then the Gainesville Sun, where she covered cutting-edge research at the state's chief academic medical center. She'll take your questions about health care and preparing for the future with advice from a wide range of experts. This column starts with you and your concerns, email them to her at ageggis@ or fill out the form below to submit your questions on healthcare and aging. Look for her first column in June. This article originally appeared on Palm Beach Post: Send us your questions about aging, healthcare and ways to finance it
Yahoo
5 days ago
- Business
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San Diego ranks third worst US city to find a starter home: report
SAN DIEGO (FOX 5/KUSI) — For first-time homebuyers in the San Diego metropolitan area, the search for a starter home remains a steep uphill battle. According to a new report from Construction Coverage, an online publisher of construction industry research reports, San Diego, Chula Vista and Carlsbad ranked 52nd out of 54 large U.S. metros in its 2025 analysis of the best cities to find a starter home. The report, which evaluates more than 300 U.S. metros and all 50 states, combines data from Zillow, Redfin, and the U.S. Census to assess where young buyers still have a shot at homeownership. Factors included the availability of smaller homes, affordability relative to income, and the current rate of homeownership among people under 35. UC San Diego impacted by crackdown on student visas Key findings for the San Diego, Chula Vista and Carlsbad metros: Starter-sized homes dominate the market with 63.3% of homes having three or fewer bedrooms. Affordability remains a major hurdle. The median sale price for a starter home in the area is $825,397, based on this report. Monthly mortgage payments for these homes would consume approximately 66.2% of the median renter income—one of the highest rates in the country. These area's, ranking of 52 out of 54 large metros, highlights the ongoing challenges for young and first-time buyers in the region. Popular reality TV show to hold casting event in San Diego Nationally, the report shows a sharp decline in the construction of starter-sized homes. In the mid-1980s, one and two-bedroom homes made up about 24% of new single-family builds. By 2023, that number had dropped to just 5%, while four-bedroom homes surged to over 50%. At the same time, housing prices have outpaced income growth dramatically. Since 2000, inflation-adjusted home prices have climbed by 56.5%, while median household income has increased by only 8.5%, according to researchers with Construction Coverage. The full report, along data for all metros and states, is available at online: Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
5 days ago
- General
- Yahoo
Harvard agrees to relinquish photos of enslaved people to descendant in Norwich
NORWICH, Conn. (WTNH) — A Norwich woman is claiming victory Thursday night after Harvard agrees to relinquish possession of early photographs of slaves. Tamara Lanier says Renty, a slave in South Carolina, was her great, great, great, grandfather who taught himself how to read. Harvard agrees to relinquish early photos of enslaved people, ending a legal battle In 1850, he and his daughter Delia were the subject of daguerreotypes, an early type of photograph. 'The reason the daguerreotypes were created in the first place was to prove white supremacy,' Lanier said. She said the nude photos were commissioned by Harvard biologist Louis Agassiz. 'As a mother of two daughters I can only imagine the trauma associated with such an experience,' Lanier said. In 2019, she filed a lawsuit against Harvard to try to get the 175 year old photographs released to her family. 'Delia during the taking of the daguerreotypes actually cried,' said Lanier. The lawsuit claims Agassiz announced to the men gathered in the Charleston Literary Club, 'The brain of a negro is that of the imperfect brain of a seven-month's infant in the womb of a White.' 'They gave justification for black inferiority and slavery,' Lanier explained. In what she calls a landmark settlement, Harvard has agreed to relinquish the daguerreotypes from its Peabody Museum of Archaeology and Ethnology to the International African American Museum in South Carolina. The university released this statement: 'Harvard University has long been eager to place the Zealy Daguerreotypes with another museum or other public institution to put them in the appropriate context and increase access to them for all Americans.' It went on to say: 'While we are grateful to Ms. Lanier for sparking important conversations about these images… Harvard has not been able to confirm that Ms. Lanier is related to the individuals in the daguerreotypes.' 'What I shared with them were official government records, official probate records,' Lanier said. She said U.S. Census information proves her heritage. For those who do not know the story of Renty and Delia it is all laid out in a book Lanier authored entitled 'From These Roots' which also chronicles Lanier's fight from start to finish. 'The legacy will continue through him,' Lanier said while she was holding her grandson Elliott during the News8 interview. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
