Author: Chris Clark

More Americans are afraid of going broke than they are of dying.

A new study by Allianz Life lays it bare: 64% of Americans say they fear running out of money ahead of death itself. Furthermore, 62% say they’re not saving as much for retirement as they’d like.

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High inflation, shrinking Social Security support and rising taxes are driving this fear. Inflation was the top concern, cited by 54% overall and 61% of baby boomers, more than millennials (56%) or Gen X (55%).

“With Americans living longer in retirement and facing risks like market volatility, creating a financial strategy so that your money lasts your lifetime is a daunting task,” Kelly LaVigne, Allianz Life’s Vice President of Consumer Insights, said in a press release. “A strong retirement strategy will go beyond a dollar amount in the bank — it will also address how you will create a reliable income stream from your assets.”

Why anxiety is so high right now

The fear of going broke is most prominent among Gen X (70%) — the “forgotten” generation — who are in their 40s and 50s and fast approaching retirement. Millennials aren’t far behind at 66%, while fear among boomers, many of whom are already retired, sits at 61%.

An April 2025 report from Northwest Mutual found the average American believes they’ll need about $1.26 million to retire comfortably. That figure is down from $1.46 million in 2024.

But many Americans are well short of this target. For those aged 55 to 64 and on retirement’s doorstep, the median retirement account balance is $185,000, according to Federal Reserve data. For those aged 45 to 54, the figure drops to $115,000.

Several forces are at work. Inflation has shredded the real value of savings, making everything from groceries to health care more expensive. And Social Security — a major factor in American retirement — is looking increasingly shaky. The program’s trust funds could be depleted by 2035 — a time when many Gen X may be entering retirement — forcing possible benefit cuts, unless the government takes action.

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How to build a strong future

The good news? You don’t have to be a millionaire today to retire comfortably tomorrow. But it’s wise to start taking smart, focused action, and soon.

Start saving now, no matter how small the amount: The magic of compounding interest works wonders over time. The more you’re able to save over a longer period of time, the more compounding works in your favor. Delaying by even a few years could cost you big time down the road.

Boost your retirement account contributions: Max out your employer’s 401(k) match if you have one — that’s free money. If possible, take advantage of catch-up contributions if you’re over 50.

Prepare yourself emotionally: Many retirees aren’t undone by running out of money — they simply lose a sense of purpose. Start planning now for how you’ll stay mentally active, socially connected and personally fulfilled once the 9-to-5 grind ends, and you can be mentally prepared to make the most of your golden years.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

In February 2025, nearly 9 million Americans held multiple jobs. What’s more surprising? Many of these moonlighters aren’t just scraping by — they have college degrees and stable careers.

A new report from the Federal Reserve Bank of St. Louis highlights this striking shift, revealing that even educated professionals now juggle multiple gigs just to keep pace financially.

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The Fed also notes an interesting dilemma in the data: Moonlighting workers contribute to the tight labor market by working more total hours across different jobs.

Because these over-employed individuals are already the gaps in the workforce, their extra hours may reduce opportunities for unemployed people seeking traditional full-time positions.

“Overemployed workers demonstrate a clear willingness to trade higher hourly wages for increased total earnings,” the report states. ”By working significantly more hours, they effectively increase their annual compensation. This behavior might be attributed to a desire to keep pace with recent inflation, as individuals actively seek ways to supplement their income and counteract the erosion of purchasing power.”

Gone are the days when multiple-job holders were primarily low-wage earners trying to make ends meet. Today, even those with diplomas proudly hanging on their walls are pulling double duty. But what’s driving educated Americans to hustle harder than ever?

The economic squeeze

First, let’s talk inflation. It’s relentless and unforgiving, with prices for groceries and other everyday items remaining high. For many younger workers, student loan debt is a significant burden on their cash flow. As of March 202, about 4 million borrowers were behind on their student loan payments, making a substantial increase in delinquency rates since the resumption of payments after the pandemic pause.

But economics isn’t the only factor behind the trend.

A cultural shift in how Americans perceive work also plays a significant role. Millennials and Gen Z, in particular, are more accepting of multiple income streams as a strategy for achieving financial independence and career flexibility.

For them, holding several jobs can be as much about autonomy, skills diversification and creating financial resilience as much as simple survival.

The pandemic accelerated this shift dramatically, normalizing remote and hybrid work arrangements. Digital platforms like Fiverr, Uber, and Upwork have made securing supplemental income opportunities easier than ever.

Now, educated professionals effortlessly toggle between primary jobs and side hustles, exploiting digital tools and remote work to maximize their earning potential.

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The dark side of moonlighting

Despite the benefits, working multiple comes at a cost. The harsh reality? Chronic stress, burnout and diminished work-life balance. Constantly juggling competing priorities, deadlines and employer expectations is an exhausting endeavor, placing workers at risk for mental and physical health issues.

Financially, the juggling act can also get messy. Multiple income streams complicate tax filing and financial planning, requiring careful tracking and strategic management. Without proper oversight, extra earnings could be swallowed by taxes and financial inefficiencies.

Then there’s the lack of labor protections. Many side gigs don’t offer essential worker benefits such as health insurance, retirement contributions or paid leave, leaving educated workers exposed and vulnerable. If economic conditions worsen or personal crises arise, these workers could face rough financial setbacks.

Will the trend become permanent?

Experts increasingly believe that multi-job holding, especially among educated workers, is shifting from a temporary trend to the new norm. With ongoing economic volatility, student debt, inflation and changing workforce expectations, this pattern seems likely to stick around.

So, what does this mean for the future?

Employers may have to adapt quickly. To retain top talent, they’ll need to offer more flexibility, competitive compensation and incentives that acknowledge their employees’ changing economic realities.

“Lifetime employment at a single job is largely a thing of the past,” entrepreneurship expert Caroline Castrillon recently wrote in a recent Forbes article examining the rise of non-linear career paths. “While some employers may frown upon non-linear careers, those attitudes are quickly changing.”

The bottom line is clear: Even a college degree no longer guarantees financial security. As educated Americans hustle harder than ever, the very structure of the workforce is transforming. Multi-job holding isn’t just about extra pocket money anymore — it’s rapidly becoming essential for survival in today’s unpredictable economy.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Musician Cat Stevens (Yusuf) once ruefully sang that the first cut is the deepest, which explains why many Americans are bracing themselves for the fallout of Elon Musk and the Department of Government Efficiency’s (DOGE) cutting of the federal budget.

The world’s richest man wants to cut $1 trillion from the federal budget. In a recent Fox News interview, Musk declared that the cuts wouldn’t harm essential U.S. services, promising Americans they could have their fiscal cake and eat it, too.

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“The government is not efficient,” Musk said. “There’s a lot of waste and fraud. So, we feel confident that a 15 percent reduction can be done without affecting any of the critical government services.”

But as analysts and concerned citizens point out the numbers — and reality — might not add up to Musk’s optimism.

Millions of Americans depend on essential services like health care and retirement support, so the coming months may prove critical in determining whether Musk’s actions will deliver prosperity or deepen economic woes.

What does $1 trillion in cuts really mean?

What’s pinching the chain in Musk’s cuts is President Donald Trump’s recent round of tariffs.

The broad-sweeping tariffs, which have been temporarily placed on pause, have driven a wedge between his administration and the Tesla billionaire. Since Inauguration Day, DOGE has spearheaded layoffs across all departments of the federal government, leading to concerns that Musk is moving too fast and endangering services counted on by millions of Americans.

DOGE, and its cuts, have yet to be approved by Congress. But Musk and his team argue that federal spending has ballooned irresponsibly, claiming wasteful expenditures can easily absorb these cuts without hurting Americans’ daily lives. Recent events, however, suggest the reality might be more complicated.

Cuts made by DOGE are impacting older adults particularly hard. Social Security offices, a vital resource for retirees managing their benefits, have seen significant staffing cuts, causing online systems to buckle and physical locations to become overwhelmed. Older Americans — many unfamiliar with digital platforms — now face hurdles to support. Retirees have flooded social media and news outlets venting their frustrations, suggesting Musk’s self-described “revolution” feels more like abandonment.

The cuts have also injected unpredictability into the stock market. Experts suggest Wall Street, already in turmoil over tariffs, might be underestimating the impact of the DOGE cuts, which could reduce consumer confidence.

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What if Medicare and Medicaid are on the chopping block?

Beyond these immediate impacts lies a deeper concern: Experts warn the math behind Musk’s $1 trillion cuts doesn’t add up without significantly scaling back Medicare and Medicaid. They represent nearly a quarter of the federal budget.

If cuts are made to Medicare and Medicaid, millions could find their health coverage compromised or significantly reduced.

Currently, Medicare serves approximately 67 million Americans. Medicaid provides essential healthcare to roughly 72 million low-income individuals, including children, older adults in nursing homes and disabled Americans. Any substantial reduction in these programs would inevitably ripple across communities, straining hospitals and leaving countless families struggling to afford basic medical care.

Health policy experts have sounded the alarm for those reasons. According to a recent Kaiser Family Foundation report, cutting even a small percentage of Medicare or Medicaid could lead to thousands of healthcare facility closures, disproportionately affecting rural and underserved urban areas.

“Any reduction in federal Medicaid spending would leave states with tough choices about how to offset reductions through tax increases or cuts to other programs, like education,” Kaiser Family Foundation analysts concluded in a recent Medicaid brief studying the impacts of proposed Medicaid cuts. “If states are not able to offset the loss of federal funds with new taxes or reductions in other state spending, states would have to make cuts to their Medicaid programs.”

Public reaction

Public skepticism (and incredulity) underscore a fundamental tension between Musk’s economic vision and the gritty realities facing everyday Americans.

Economists widely acknowledge the need for fiscal responsibility and targeted spending cuts. However, Musk’s trillion-dollar gamble highlights crucial trade-offs between government size and service quality, forcing hard conversations about national priorities. As debates rage and details emerge, citizens must remain informed and engaged, understanding exactly what’s at stake.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

As homeowners, we’ve all likely been hit with a crazy high utility bill during peak winter and summer. In fact, U.S. households recently faced average natural gas bills of $602 per month during the past winter.

You can cut those costs by retrofitting your home with efficient upgrades, like adding insulation, sealing gaps and heat pump water boilers. Fortunately, a federal tax credit might help offset those expenses.

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That’s exactly what worked for Megan Moritz, a Chicago homeowner who recently received a tax break after upgrading her home for better energy efficiency. After purchasing her 1930s dream home, she soon learned it came with all the 1930s-era insulation problems.

Moritz spent around $5,700 on retrofits and saw a big payoff: a much warmer house and a heating bill slashed in half. “The biggest perk to me, honestly, was not freezing my butt off,” Moritz told CNBC. “Then it was the monthly bill going down as much as it did.”

Even better, she was able to claim those expenses on her taxes, which gave her a $1,200 credit. That financial relief made the investment even more worthwhile.

This tax break — called the Energy Efficient Home Improvement Credit — is used by millions of homeowners to insulate drafty homes or upgrade to energy-efficient appliances. It’s a part of a broader push to cut greenhouse gas emissions and prevent another 1970s-style energy crisis. While upfront costs can be a barrier, the credit helps by covering up to 30% of the cost of eligible projects.

Is the rebate here to stay?

The extremely popular tax credit, which American homeowners claimed $8.4 billion of in 2023, has been extended through 2032 by the Biden administration’s Inflation Reduction Act. But for those planning future upgrades, its lifespan may be threatened by the Trump administration, which has pledged to cut IRA spending.

As Republicans search for ways to fund a $4 trillion tax cut package, the home improvement credit could be at risk. Freezing IRA funds was one of Trump’s first executive orders for this presidency.

“There is a risk in the current budget bill that these credits would be changed or go away completely,” said Haas Energy Institute economist Lucas Davis, who has written on the history and use of the energy credit.

A group of congressional Republicans is siding with Democrats to keep the credit alive. With slim margins of Democrats to Republicans in both the House and Senate, it may still have a fighting chance.

If the federal tax credit does get slashed, check whether your state or local government offers energy rebates. The Department of Energy provides a rebate search tool, and the NC Clean Energy Technology Center maintains an online database of state energy incentives.

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Retrofitting your home

Whether or not you’re able to get the energy tax credit, making energy-efficient upgrades to your home is good for the environment and your wallet.

If you’re like Moritz and live in a house that’s nearly 100 years old, there are several ways to improve energy efficiency without compromising its historic charm.

Insulation: Attic insulation is often a high-priority, yet cost-efficient upgrade for older homes. It can lower heating and cooling costs by 15%, and it’s generally easier and more affordable to install than wall or floor insulation.

Upgrade your furnace or boiler: In older homes, the heating system may also be outdated. Replacing it with a 95% efficiency model could save you up to $525 per year. You might also save $300-800 annually on parts, repair and boiler maintenance by upgrading to a newer system.

Start small: If big-ticket improvements aren’t in your budget right now, start with low-cost changes — like switching to LED lighting, gradually upgrading to ENERGY STAR appliances and using power strips to reduce phantom energy use when electronics are idle.

Energy audits: Many utility companies and local governments offer free or discounted energy audits. These professional evaluations help identify areas of energy waste and provide a plan for increasing efficiency.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Sometimes what leaders don’t say speaks the loudest. So, when U.S. President Donald Trump refused to rule out a recession amid a wave of price-increasing tariffs and stubborn inflation, it sent a clear message: economic pain might be part of the plan whether America wants it or not.

When Trump sat for an interview with Fox News in March and refused to rule out a recession, his answer — coupled with his Cabinet’s insistence that short-term pain could be worth it in the long run — has sparked fresh anxiety among consumers and economists already bracing for impact.

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“I hate to predict things like that,” Trump said when asked by Fox host Maria Bartiromo about a recession in a March interview. “There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing … it takes a little time, but I think it should be great for us."

Cabinet members have echoed their boss, arguing that short-term economic pain caused by tariffs on international imports and slashing federal spending would create long-term gains.

That framing has hit a nerve. After all, recessions are more than abstract economic concepts: They mean job losses, tightened budgets and financial stress for millions. Here’s how to protect yourself.

Below the surface of Trump’s words

The backdrop to these remarks is crucial. Persistent inflation has consumers facing price hikes at grocery stores and retail shops, and housing affordability remains a challenge. Trump and his team argue that aggressive fiscal changes — including cutting federal programs and taking a hard line on trade via tariffs — are necessary corrections.

Suggestions of short-term collateral damage have unnerved many economists, who worry that Trump’s tariffs will elevate inflation, stunt growth and increase recession risks. Goldman Sachs has raised its recession probability to 45%, citing tariffs as a significant factor.

Deep cuts to government spending is already reducing economic activity and has cost tens of thousands of federal workers their jobs. Broad tariffs are expected to significantly increase the prices of imported goods on everything from electronics to cars, hitting consumers and businesses alike.

Still, regardless of whether Trump’s policies result in a recession, proactively recession-proofing your finances is prudent. Here are three straightforward strategies to fortify your financial health against an extended downturn.

Diversify your investments — smartly

If recession fears become reality, diversified investments can shield your savings from significant losses. Rather than placing all your financial eggs into one basket, consider spreading your assets across multiple investment types:

Dividend-paying stocks: Companies that reliably pay dividends — especially in stable sectors like health care, consumer staples and utilities — typically perform better during economic downturns.

Bonds: Treasury and investment-grade corporate bonds offer steady returns and reduced volatility compared to stocks, providing crucial financial stability during turbulent times.

Real estate: Historically, real estate investments — especially rental properties — often weather recessions well, providing both appreciation potential and steady rental income.

The key here is not just diversification, but intentional diversification toward assets known for resilience in uncertain economic climates. You may want to consult with a financial advisor to calibrate your portfolio to your risk tolerance and financial goals.

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Trim non-essential spending and build savings

In booming economies, it’s easy to overlook how quickly unnecessary expenses add up. When recession risks loom, now is the time to ruthlessly assess your spending habits:

Audit your budget: Go line by line and identify subscriptions, services or discretionary purchases you can either downgrade or eliminate entirely.

Boost emergency savings: Aim to build a safety net of three to six months’ living expenses. Cash reserves offer a vital buffer, keeping you afloat if your income is reduced or interrupted during a recession.

By proactively cutting non-essential spending, you create flexibility in your monthly budget, positioning yourself to weather economic shocks with greater confidence.

Prioritize paying down high-interest debt

High-interest debt can become crushing when economic conditions tighten. As borrowing rates spike during a recession, carrying significant debt can rapidly spiral out of control. Therefore, prioritizing debt repayment now is a critical protective step:

Target credit card balances first: These typically carry the highest interest rates, draining significant portions of your income. Implement strategies like the “avalanche method,” paying down debts starting with the highest interest rates.

Refinance wisely: If possible, consider refinancing high-interest loans into lower-interest options, reducing your monthly payments and overall debt burden. But act quickly — refinancing becomes harder and less favorable as recessions take hold.

Proactively attacking debt not only saves significant money in interest payments but also boosts your financial resilience, giving you greater flexibility if economic hardship strikes.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Government spending and jobs are being cut across the board, and it doesn’t seem like there isn’t an agency left untouched — including Social Security.

This became all too real, and frightening, for Paul Aguilar, who recently got a letter from the agency telling him his disability benefits had been slashed. Even worse? The agency claims it overpaid Aguilar $201,000, and it wants the money back.

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The letter said that “there were concerns about my benefits and that they should have actually stopped December 2013, and that I now owed them over $200,000 and I had 30 days to pay that $200,000," Aguilar told ABC7 News.

Aguilar has been unable to work and on disability due to his HIV-positive status since 2005. Now, Social Security wants him to pay back a decade’s worth of benefits in just one month.

While the sheer size of the bill is scary enough, Aguilar said he’s most worried about his medical care getting cut off and giving the disease a chance to catch up.

“The fact that they cut off my medical care scares me more than anything else because if I can’t access my medical care, it means I can’t access my medications which means eventually my HIV virus disease will spiral out of control and I could be dead in a year or two.”

Aguilar believes DOGE is behind his benefits being slashed, and he might be right: the Social Security Administration released a statement in February about its plans for structural reorganization in response to DOGE cuts and changes from the Trump administration. Even before DOGE, the agency has come under scrutiny for overpayments that were later flagged for repayment, stunning and scaring benefit recipients.

But that isn’t stopping Aguilar from fighting back. He’s been working with a lawyer, his doctor and is reaching out to lawmakers.

What you can do

As the Elon Musk-led DOGE targets federal government agencies for drastic cuts, it’s fair to wonder if and when disability benefits might be cut. But there are measures you can take if it happens to you.

If you want to file an appeal, do it immediately. In order to keep your benefits during the appeal process, you need to make that request within 10 days of notice. You then have 60 days to file an official appeal.

Consulting a disability attorney as soon as possible is the smartest route to take. An attorney can walk you through the appeals process and go to any benefits hearings if necessary. Even better, many disability lawyers handling Social Security cases work on contingency, which means you only pay them if they get your benefits reinstated.

Make sure to gather all relevant documentation related to your disability, including medical records, physician statements, treatment and therapy records, and any correspondence with the Social Security Administration. Be sure to also include any evidence that your disability prohibits you from daily tasks or working.

In the meantime, you might need to explore other coverage options. Even if your SSDI benefits are cut, Medicare coverage may be available.

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Preparing for the uncertain

The current economic and political landscape might have folks feeling anxious about the availability of benefits and services. Social Security has appeared acutely at risk, as cuts have already hurt staffing levels and closed offices.

Let’s explore some ways you can prepare yourself for possible cuts.

Set up an emergency fund: Consider opening a high-yield savings account for small but consistent auto-transfers. Aim for an amount that will cover three to six months of essential expenses.

Analyze your budget: Track your non-essential expenses to see what could be removed quickly in the event of a sudden cut to your benefits. Formulate a hypothetical budget that only focuses on essential bills, especially medication, treatments or transportation related to your disability.

Consider flexible work options: If your disability prevents you from working 40 hours, consider part-time, remote or freelance work — anything to build up that emergency fund. Make sure to research what work limits SSDI has in place, as working could impact your benefits eligibility.

Explore other resources: Research your eligibility for other benefits services, such as SNAP, Medicare, utility discounts, housing assistance and nonprofits. If your disability benefits get cut suddenly, you’ll know which services to turn to quickly. Also consider checking out the Disability Benefits Consortium, a national group of charities that provide resources, advocacy and guidance in the benefits system.

Keep track of your benefits: Benefits policies are rapidly changing, with criteria for assistance getting tightened. Make sure to stay alert and up-to-date with current SSA policy and respond promptly to any correspondence from the agency. This will help keep you informed and prepared in the event you need to appeal a cut to your benefits.

What to read next

• Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• There’s a 60% chance of a recession hitting the American economy this year — protect your retirement savings with these essential money moves ASAP (most of which you can complete in just minutes)

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

Charlie Javice was the young, charismatic founder behind Frank, a fintech startup that promised to revolutionize the then-daunting student financial aid process.

Javice’s bold vision to simplify the Free Application for Federal Student Aid (FAFSA) gained recognition, landing her on Forbes’ prestigious "30 Under 30" list. More media attention — and investor interest — weren’t far behind.

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Enter banking giant JPMorgan Chase, which hoped to leverage Frank’s alleged massive user base of more than 4 million students to gain a stronger foothold in the lucrative student finance market.

The bank’s decision to pay $175 million appeared justified given the growth and scale touted by Javice.

But beneath Javice’s business model, prosecutors alleged, were fake user accounts and falsified data. Undetected during JPMorgan’s due diligence process, the strategy eventually unraveled into one of Wall Street’s most dramatic fraud scandals, drawing parallels to the fraud case of disgraced Theranos leader Elizabeth Holmes.

In late March federal jurors convicted Javice of fraud and conspiracy, setting the stage for possible decades-long prison sentences for Javice and her co-defendant, Olivier Amar.

At a recent bail hearing, Javice’s lawyer attempted to argue that wearing an ankle monitor would prevent Javice from doing her current job: teaching Pilates in South Florida.

How exactly did Javice manage to deceive a financial powerhouse like JPMorgan? And what crucial lessons can investors take from the company’s mistakes?

Who Is Charlie Javice and what did she promise?

Charlie Javice founded Frank in 2016, promoting it as a cutting-edge platform that would simplify the process of applying for federal student aid.

By digitizing and streamlining FAFSA, Frank promised students easier access to financial support, dramatically reducing paperwork and bureaucratic hurdles. Javice projected confidence, ambition, and youthful innovation, quickly positioning Frank as an indispensable tool for college-bound students nationwide.

By 2019, Javice had been widely celebrated for her entrepreneurship and ability to attract venture capital. Her portrayal of Frank as a major success story, boasting millions of active users, secured her credibility in financial circles.

In reality, Frank’s actual customer base was less than 10% less than the company had publicly boasted of.

When JPMorgan expressed interest in acquiring Frank, Javice sensed an opportunity to capitalize on the bank’s appetite for growth. She reportedly paid a data scientist $18,000 to generate millions of fake user profiles, complete with realistic personal information, to substantiate her exaggerated user claims.

Testimony revealed JPMorgan officials never checked if the users were real.

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How JPMorgan fell victim to Javice’s deception

Jamie Dimon, JPMorgan’s longtime CEO, would later call the acquisition of Javice’s company a "huge mistake."

So how did a banking titan fail to uncover such blatant fraud during its acquisition process? JPMorgan appeared to rely heavily on data presented by Javice and her team, failing to independently corroborate the legitimacy of Frank’s purported user base through external audits or third-party verification.

The deception only came to light when JPMorgan attempted to leverage Frank’s user base, eventually learning after a subsequent internal investigation that the bank had been manipulated.

In December 2022, JPMorgan took legal action, filing a lawsuit against Javice for defrauding the company. The U.S. Department of Justice soon followed, charging Javice with wire fraud, bank fraud, securities fraud, and conspiracy.

“It was through their lies that (Javice and Amar) became multimillionaires,” federal prosecutor Rushmi Bhaskaran said during the trial.

Javice’s defense attorney, Jose Baez, claimed JPMorgan was fully aware of the accurate user figures, suggesting the bank had simply experienced buyer’s remorse due to subsequent regulatory changes affecting the fintech sector.

But the jury was unconvinced, leading to Javice’s guilty verdict on all counts, and she now faces up to 30 years in prison.

Lessons learned: Protecting your investments

Javice’s elaborate fraud highlights essential lessons for all investors, from major financial institutions to individual retail investors. Protecting funds against similar scams requires diligent skepticism, rigorous verification and proactive risk management.

Investors must prioritize independent verification of any data provided during acquisitions or funding rounds. Relying solely on company-provided information is insufficient; third-party audits, external validations and comprehensive cross-checking of user data are essential. Understanding the nuances of a company’s business model, revenue streams, and customer acquisition methods can help reveal underlying red flags.

Investors should also be wary of hype-driven valuations and high-profile media endorsements. Accolades, like those Javice received from Forbes (though the publication later put Javice in its “Hall of Shame”), can create a false sense of security. Instead, rigorous analysis of financial fundamentals and operational transparency should guide investment decisions.

Regulatory tools, such as the SEC’s EDGAR database and FINRA’s BrokerCheck, offer valuable insights into corporate transparency and leadership backgrounds. Engaging trusted financial and legal advisors also adds necessary layers of due diligence and can help investors avoid costly oversights.

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When Florida veteran Esteban Ortiz signed up for solar panels, he thought he was making a smart, sustainable choice — lower energy bills, a greener home and no money down. Instead, he found himself in a nightmare: a fight for his home he never saw coming.

“I got a notice that my house was going to be for sale on the courthouse steps on the 21st of this month,” Ortiz told WFTS in Tampa Bay. “My life really hasn’t been the same since all this started physically, mentally, emotionally.”

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Rather than reaping the benefits of renewable energy, Ortiz is on the brink of losing his home. In a desperate attempt to stop the financial bleeding, he had no choice but to declare bankruptcy.

His story is a cautionary tale for homeowners looking to go green: not all solar financing is as good as it sounds.

The problem with PACE

Ortiz’s troubles started when he financed his solar panels through the Property Assessed Clean Energy (PACE) program, a government-backed initiative designed to make home improvements more accessible.

PACE offers 100% financing for energy efficiency, renewable energy, water conservation and disaster resiliency upgrades. The catch? Instead of a traditional loan, the debt is added to the homeowner’s property tax bill and repaid over time — sometimes up to 30 years.

But PACE loans come with a catch: they function as tax liens. If payments aren’t made, foreclosure can happen fast.

That’s exactly how Ortiz got trapped. Not all Florida counties participate in the PACE, and while his county allows commercial loans under the program, it doesn’t permit residential ones. Ortiz believed he was approved for full financing, but the funding never materialized because of this restriction.

Despite that, Volt Solar Solutions went ahead and installed the panels. When Ortiz couldn’t pay, the company filed a mechanic’s lien against his home. Compounding the issue, the attorney who prepared the lien, Joe Falluca, is also the president of Lien Liquidators — the company now trying to foreclose Ortiz’s home.

Falluca told WFTS that the PACE program had failed to provide the financing it promised.

Suddenly, Ortiz owed thousands of dollars he couldn’t afford, and his debt quickly escalated into a foreclosure threat. Unlike missing a mortgage payment — where homeowners often have time to negotiate — tax liens move fast, leaving little room to fight back.

“I should have gotten an attorney, but not everyone has $3,000 or $4,000 on hand to pay for an attorney,” Ortiz said.

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Avoiding solar scams

Across the country, homeowners are lured into questionable solar financing deals with promises of lower bills, tax credits and no upfront costs. The Consumer Financial Protection Bureau (CFPB) warns that solar financing issues are rampant, with common problems including misleading claims about financial benefits and energy savings.

Another common trap is misleading loans. Some financing options, like PACE, aren’t structured like traditional loans. Because the debt is tied to the property taxes through a lien, homeowners may not realize they’re putting their house on the line.

Before signing anything, homeowners should ask, how the loan is repaid, whether it affects property taxes and if it carries foreclosure risks.

Vetting both the contractor and the financing program is just as important. Checking online reviews, consulting local consumer protection agencies and verifying a company’s standing with the Better Business Bureau (BBB) can help avoid shady deals. And if a financing offer seems too good to be true, it probably is.

Safer alternatives include home equity loans or solar-specific credit programs, which don’t automatically place a lien on the property and offer more flexibility in case of financial hardship.

Save on energy without risking your home

While solar power is a great way to reduce energy bills, homeowners should explore other cost-effective solutions.

Installing a heat pump can significantly reduce heating and cooling costs, with federal rebates to offset installation expenses. Smart thermostats and energy-efficient appliances can also lower electricity bills without long-term debt.

For those still interested in solar, explore legitimate incentive programs that don’t require risky financing arrangements. The Department of Energy’s Solar for All initiative is a good starting point, though funding freezes implemented by the Trump Administration have cast uncertainty over its future.

Electric vehicles (EVs) are also gaining traction as an alternative way to cut household energy costs, especially when paired with off-peak charging strategies. And sometimes, the simplest fixes — like sealing air leaks, upgrading insulation or switching to LED bulbs — can cut energy consumption by 30% or more without taking out a loan.

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If you’ve been following the plans of the Trump administration, you’ve likely heard a lot about DEI – diversity, equity, and inclusion.

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DEI programs focus on ensuring fair treatment and equal participation for everyone, particularly targeting biases against marginalized groups in workplaces, college campuses, and organizations. But the Trump administration wants DEI gone, labeling DEI government programs “radical” and “wasteful.”

Tesla CEO Elon Musk’s Department of Government Efficiency (DOGE) has regularly used the term in its updates about "wasteful" contracts and grants it has cancelled. The federal government recently froze grants for Harvard when the university refused to eliminate DEI programs and obey other orders.

Now, there’s a new acronym grabbing attention – MEI, short for merit, excellence, and intelligence. Harvard economist Roland Fryer dubbed MEI "the new corporate rage" in a recent op-ed for The Wall Street Journal.

So is MEI writing DEI’s obituary?

What exactly is MEI?

MEI advocates for hiring candidates strictly based on merit, excluding factors like race, gender, age, or ethnicity from the equation. Fryer describes this shift as "refreshing," and supporters argue the approach naturally fosters diversity because the best talent inherently includes diverse backgrounds and perspectives.

Scale AI CEO Alexandr Wang, who coined the term, explained on his blog that “a hiring process based on merit will naturally yield a variety of backgrounds, perspectives, and ideas.”

Elon Musk, another prominent MEI supporter, has been notably blunt about his opposition to DEI, tweeting provocatively that “DEI means people DIE.” In response to Wang’s announcement about the MEI hiring policy at Scale, Musk simply tweeted, “great!”

MEI supporters argue that focusing purely on merit is a return to traditional American values like work ethic and individual achievement.

However, critics such as Adia Wingfield, a professor at Washington University in St. Louis, counter that the meritocratic past referenced by MEI proponents never truly existed. Historically, women and people of color faced significant barriers preventing equal workplace opportunities.

According to Wingfield and other experts, DEI initiatives are exactly what’s needed to create a genuine meritocracy. As Wingfield explained to Fortune magazine, “The idea is to move away from a very non-meritocratic past into a future where everyone really does have opportunities.”

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Is DEI really on its way out?

Despite aggressive moves by the Trump administration and some business leaders to dismantle DEI departments and even remove the word “diversity” from company websites, national sentiment toward DEI remains surprisingly resilient.

A CivicScience study published in February shows that 63% of Americans still support or feel neutral about DEI efforts. Furthermore, 75% remain concerned about income inequality, suggesting continued public support for initiatives bridging socioeconomic gaps. In its report, Morning Consult said broad support for DEI is still high, with the majority of U.S. adults against decreasing the funding and influence of such programs, but the "often negative messaging originating from the president’s office around diversity and inclusion is working — there are early signs that support for pullbacks is growing."

Surveys from CultureCon and CNBC have shown most employers and entrepreneurs also still support DEI.

While corporations like Target and Google might indicate DEI’s demise, many major companies aren’t ready to abandon their programs. Costco and Apple, for instance, are standing firm on diversity initiatives, even rejecting proposals from conservative think tanks demanding risk assessments of DEI programs.

Brands like Ben & Jerry’s have been particularly outspoken. The ice cream maker boldly declared, “Companies that timidly bow to the current political climate by attempting to turn back the clock will become increasingly uncompetitive in the marketplace.”

Even Target’s CEO recently met with Rev. Al Sharpton amid a backlash and boycott that is said to have hurt foot traffic.

DEI behind the scenes

Even businesses scaling back public DEI messaging aren’t necessarily stopping their internal diversity efforts altogether – they may just be keeping a lower profile. According to Amira Barger, a DEI executive and communications professor at California State University, East Bay, companies might avoid public attention yet continue quietly promoting inclusion.

“I do think we will continue to see companies be less vocal, but I think people should take a pause and really ask more questions, because I do think many of these companies are still quietly doing the work behind the scenes,” Barger told CNBC.

Businesses may recognize tangible benefits of DEI initiatives beyond just optics or compliance. Moreover, advocates say DEI is essential for employee morale and productivity. Economic consulting firm Berkshire highlights that robust DEI programs lead to improved employee retention and collaboration and make workplaces more innovative and responsive to customer needs.

While the political landscape might challenge DEI’s visibility, its persistence in the workplace in the face of stiff political opposition suggests many organizations aren’t willing to let it go.

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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.