Latest news with #cities
Yahoo
4 hours ago
- Business
- Yahoo
10 Best Cities for Renters Who Need Child Care
The cost of rent in the U.S. has been rising since the onset of the COVID-19 pandemic, with low inventory being the main driving factor. The cost of child care has also been rising — and it's not an expense that parents can just carve out of their lives. Not having adequate child care is a cost in itself. If you can't afford it and you don't have the luxury of family to help out, then you're going to have to provide child care yourself, which means your professional life will take a hit. Learn More: Read Next: The costs of rent combined with the costs of child care can be overwhelming. But it's less horrendously expensive in some major cities than others. A recent analysis by Redfin looked at the combined monthly cost of rent and child care to find the 10 most affordable cities for middle-class renters. Median monthly household income: $10,844 Average monthly child care + rent costs: $3,725 ($1,660 + $2,065) Share of income spent on child care + rent: 34.3% Find Out: Median monthly household income: $8,159 Average monthly child care + rent costs: $2,787 ($1,037 + $1,750) Share of income spent on child care + rent: 34.2% Median monthly household income: $9,512 Average monthly child care + rent costs: $3,154 ($1,434 + $1,720) Share of income spent on child care + rent: 33.2% Median monthly household income: $9,058 Average monthly child care + rent costs: $2,712 ($1,186 + $1,526) Share of income spent on child care + rent: 29.9% Median monthly household income: $7,305 Average monthly child care + rent costs: $2,174 ($899 + $1,275) Share of income spent on child care + rent: 29.8% Median monthly household income: $9,264 Average monthly child care + rent costs: $2,753 ($1,147 + $1,606) Share of income spent on child care + rent: 29.7% Median monthly household income: $11,672 Average monthly child care + rent costs: $3,462 ($1,401 + $2,061) Share of income spent on child care + rent: 29.7% Median monthly household income: $8,048 Average monthly child care + rent costs: $2,274 ($739 + $1,535) Share of income spent on child care + rent: 28.3% Median monthly household income: $8,417 Average monthly child care + rent costs: $2,306 ($851 + $1,455) Share of income spent on child care + rent: 27.4% Median monthly household income: $7,514 Average monthly child care + rent costs: $1,984 ($735 + $1,249) Share of income spent on child care + rent: 26.4% More From GOBankingRates 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on 10 Best Cities for Renters Who Need Child Care
Yahoo
9 hours ago
- Business
- Yahoo
10 Worst Cities for Renters Who Need Child Care
Rent prices in the U.S. have been going up since the COVID-19 pandemic started in 2020. Low inventory is the chief factor driving high rents, and with interest rates still steep, fewer people can afford to buy. The cost of child care has also been going up in the U.S. Limited supply and overwhelming demand plays a similar role here. But what choice do we have? Working parents need to maintain an income. And even if you have the luxury of working from home, the 'working' part doesn't go away. Child care, however much of a privilege it's become, is a need. Learn More: Read Next: Combine rising rents with rising costs for child care and you get, quite possibly, a financial nightmare. And it's worse in some major cities than in others. A recent analysis by Redfin looked at the combined monthly cost of rent and child care to find the 10 cities that are the most unaffordable for middle-class parents. All data cited is from Redfin, while U.S. Census Bureau data was used to source the median household incomes. Median monthly household income: $11,787 Average monthly child care + rent costs: $4,692 ($1,997 for child care + $2,695 for rent) Share of income spent on child care + rent: 34.5% Find Out: Median monthly household income: $6,419 Average monthly child care + rent costs: $2,393 ($918 for child care + $1,475 for rent) Share of income spent on child care + rent: 38.3% Median monthly household income: $5,941 Average monthly child care + rent costs: $2,658 ($865 for child care + $1,793 for rent) Share of income spent on child care + rent: 40.6% Median monthly household income: $8,077 Average monthly child care + rent costs: $4,396 ($1,609 for child care + $2,787 for rent) Share of income spent on child care + rent: 42.1% Median monthly household income: $8,693 Average monthly child care + rent costs: $3,995 ($1,318 for child care + $2,677 for rent) Share of income spent on child care + rent: 42.6% Median monthly household income: $7,473 Average monthly child care + rent costs: $3,516 ($1,183 for child care + $2,333 for rent) Share of income spent on child care + rent: 44.5% Median monthly household income: $5,058 Average monthly child care + rent costs: $2,846 ($961 for child care + $1,855 for rent) Share of income spent on child care + rent: 45.6% Median monthly household income: $7,313 Average monthly child care + rent costs: $3,892 ($1,145 for child care + $2,747 for rent) Share of income spent on child care + rent: 48.4% Median monthly household income: $6,643 Average monthly child care + rent costs: $4,051 ($1,208 for child care + $2,843 for rent) Share of income spent on child care + rent: 49.2% Median monthly household income: $4,949 Average monthly child care + rent costs: $3,179 ($764 for child care + $2,415 for rent) Share of income spent on child care + rent: 50.5% More From GOBankingRates 7 Tax Loopholes the Rich Use To Pay Less and Build More Wealth This article originally appeared on 10 Worst Cities for Renters Who Need Child Care 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Wall Street Journal
a day ago
- General
- Wall Street Journal
Trump List of ‘Sanctuary Jurisdictions' Prompts Pushback
The Trump administration's list of U.S. cities and counties deemed uncooperative with federal immigration laws has sparked confusion from some government officials and backlash from others who say they shouldn't have been included. The list, released Thursday, was riddled with spelling mistakes. It named communities that have been supporters of President Trump's immigration crackdown as well as some that have been critical. It has counties and cities in both red and blue states.
Yahoo
a day ago
- Business
- Yahoo
5 Reasons You Should Pay Off All Debts Before Retirement If You Can
Debt is becoming an increasingly common burden for older Americans. According to a Lending Tree report, more than 97% of adults aged 66 to 71 carry non-mortgage debt. In addition, older residents in the nation's largest cities have a median debt balance of $11,349. Read More: Find Out: This financial strain is prompting many to delay retirement, draw down savings prematurely, and experience heightened stress. Here are five reasons you should pay off all debts before retirement if you can. Carrying debt can drastically postpone retirement and force many Americans to work far longer than they planned. A National Debt Relief survey found that 67% of non-retired respondents said they 'definitely' don't have enough saved to live comfortably in retirement and needed an average of 12 more years to reach their savings goals. 'Our findings reveal a troubling reality: Our nation's growing consumer debt epidemic has left millions of older Americans feeling stressed about their debt, which has considerable impacts on their ability to build a comfortable financial future and their ability to retire,' said Natalia Brown, the organization's chief compliance and consumer affairs officer. Be Aware: For many older adults, carrying debt makes it difficult to save enough for a stable retirement. Nearly half (49%) of respondents in the National Debt Relief survey reported having less than $20,000 saved, and 22% had saved nothing at all. 'Carrying debt into retirement can quietly eat away at everything you've built,' said Bert Hofhuis, entrepreneur and founder of Banking Times. 'You've likely spent decades saving, budgeting and investing, only to see loan repayments or credit cards continue pulling money from your pocket when you're no longer earning a steady income. 'When you're debt-free, your pension or drawdown can go directly toward your needs, experiences or even helping family, rather than servicing interest. I've seen people sleep better just knowing no one's waiting at the end of the month to be paid back.' Debt doesn't pause when the markets dip. Retirees who carry debt may need to withdraw more aggressively from their pension or retirement accounts to meet monthly obligations. 'That puts pressure on your portfolio and can shorten how long it lasts,' Hofhuis said. 'In some cases, people trigger large taxable withdrawals to make lump-sum repayments, and that throws off their income plan. 'Debt repayments don't adjust based on how the markets perform, so if there's a dip in your investments, you're still expected to meet the same monthly commitments. It can trap you in a corner, where you're forced to make poor financial decisions just to keep up.' Retirement often brings a psychological shift in spending that can be worsened by debt. Mark Zagurski, director, strategy and communications at Mutual of Omaha Advisors, said that while some studies suggest retirees spend more at the beginning and end of retirement, debt affects their mindset. 'Many retirees become more price-conscious when they stop earning an income and start relying on savings,' Zagurski said. 'This can lead to cautious spending, and in some cases, underspending, even when it's not necessary. 'Carrying debt into retirement can make your finances feel tight at a time when you want to relax and enjoy life. High-interest debt can grow quickly, making it tough to keep up with payments. That could mean cutting back on things you enjoy or even selling assets to stay afloat.' Carrying debt into retirement reduces one's ability to adapt when life throws a curveball. 'Retirement isn't as fixed as people imagine,' Hofhuis said. 'Expenses pop up, whether it's healthcare, home repairs or helping grandchildren. If you're locked into repayments, there's less room to adapt.' Debt also adds emotional strain that often goes unspoken. 'I've worked with retirees who felt ashamed about their balances and kept it hidden from family,' Hofhuis said. 'It affected their well-being, not just their finances. If something unexpected happens, like a medical cost or a family emergency, and your money's tied up in loan repayments, you don't have many good options.' More From GOBankingRates These 10 Used Cars Will Last Longer Than an Average New Vehicle 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on 5 Reasons You Should Pay Off All Debts Before Retirement If You Can
CTV News
2 days ago
- Business
- CTV News
Carney says he'll help cities withstand tariffs by jumpstarting nation-building projects
Prime Minister Mark Carney says the federal government wants to help cities spur development in areas like housing and infrastructure. Judy Trinh has more.
