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Author: Christy Bieber

  • Scammers are targeting American investors to the tune of $5.7 billion — here are the three signs of a hustle and how to protect yourself from costly scams

    Scammers are targeting American investors to the tune of $5.7 billion — here are the three signs of a hustle and how to protect yourself from costly scams

    Scammers are getting bolder — and consumers are paying the price.

    In 2024 alone, fraud cost Americans more than $12.5 billion, a staggering 25% increase from the previous year, according to data from the Federal Trade Commission.

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    Investment scams were the most costly, accounting for $5.7 billion in losses, a 24% increase from the previous year. In comparison, imposter scams, the second most common type of fraud, cost consumers $2.95 billion.

    So, what kinds of investment scams are causing consumers so much, and how can you protect yourself? Here’s what you need to know.

    Common investment scams

    The Washington State Department of Financial Institutions provides a helpful list of common investment fraud schemes, including:

    • Fraudulent promissory notes – Short-term notes offered by fake companies that promise high returns but fail to deliver.
    • Ponzi or Pyramid schemes – Existing investors are paid money from new investors, while the actual "assets" being invested in either don’t exist or are worth very little.
    • Real estate investment fraud – Scammers convince investors to put money into "hard money loans" or "property flipping" schemes, often misleading them about the risks, potential returns or property values.
    • Cryptocurrency scams – Fraudsters create fake coins, heavily promote them and sell them to investors. Once the price rises, they cash out, leaving the coins worthless.

    The U.S. Secret Service also warns about "pig butchering" scams, where fraudsters build trust with victims before tricking them into investing in fake cryptocurrency projects.

    Read more: 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

    How can you protect against fraud?

    You don’t want to fall victim to these scams, so watch for three key signs of investment fraud:

    • Impersonation of a trusted source – Scammers may pretend to be government officials, financial advisers or even friends and family members. If you get an unexpected call from a government agency or familiar contact, hang up, look up the phone number and call the agency or your family member yourself.
    • High-pressure tactics and urgency – If you are told you must invest immediately and discouraged from researching the opportunity or consulting others, it’s likely a scam. Legitimate investments don’t require rushed decisions. Always take time to verify information.
    • Untraceable payment methods – Be wary if you’re asked to pay using cryptocurrency or wire transfers. Scammers prefer these payment methods because they are hard to trace, making it nearly impossible to recover the lost funds.

    As a general rule, avoid investing in:

    • Anything you learn about on social media.
    • Opportunities you don’t fully understand.
    • Offers that rely on aggressive sales tactics.

    By staying vigilant, you can avoid losing money and becoming one of the millions targeted by scammers who promise great investments only to disappear with your cash.

    What to read next

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

  • My grandmother died and left me her home but I only make $36K/year and struggle to afford the mortgage. I want to sell but I’m afraid this is my one chance to ever own a home — what do I do?

    Inheriting a home can be a great thing — but it can also come with problems if you don’t have the money to pay for it.

    Let’s say you have a $36,000 per year job, and the home has a $1,100 mortgage — but property taxes and insurance also must be paid, and keep going up every year. Between those bills, you end up with another $1,000 in housing expenses and have just $1,000 left over to cover the rest of your costs.

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    Selling the home may seem like the obvious choice since experts say you typically shouldn’t spend more than 30% of your monthly income on housing at most. But, what if you feel like this inherited property is the only chance to ever own a house of your own?

    What should you do in this situation?

    Understand your legal rights and obligations

    When you inherit a house, the first thing to do is find out how to take legal ownership. If you were already on the mortgage and a co-owner of the home, or if the homeowner set up the property to transfer on death, there may not be much you have to do.

    However, if you weren’t on the deed but inherited the property in a will, you may need to go through the probate process to formally transfer ownership. This can take time, and in the meantime, the estate remains the legal owner. Either you can pay the mortgage, or it can be paid out of estate assets in this situation.

    If you’re the legal owner, or once you become the legal owner, you have the right to take over the existing mortgage. You could also get a new mortgage in just your name, but with mortgage rates being pretty high right now, that’s likely not your best bet.

    You may want to talk to an attorney about all this to make sure the home will definitely become yours — and to get advice on things like whether you’ll owe taxes on an inherited home, as those taxes could make keeping the property impossible if you’re already struggling.

    On the other hand, if you were also left money as part of your inheritance, these funds could be used to pay off the mortgage and set up a fund that makes staying in the home affordable.

    Read more: 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

    Figure out the true costs of ownership

    Once you’ve dealt with the legal technicalities, it’s time to figure out the true cost of ownership and whether you can afford to stay.

    If the monthly payments eat up half your income, remaining in the home will be tough unless you can find a way to cut those costs or increase the money you have coming in.

    You could look into refinancing to a longer-term loan to lower payments, but with today’s high mortgage rates, that’s unlikely. You could also talk with your lender about modifying the terms of the loan, but they may have little reason to work with you if there’s enough equity in the house that they’d be fully repaid if you had to sell.

    Some states do offer property tax relief options if you’re struggling, so look into whether your area does. If you itemize when you file your taxes, you should also know that mortgage interest is tax-deductible, which effectively lowers your costs. However, many people claim the standard deduction, so that may not help you.

    You also have to think about other costs beyond routine bills for the mortgage and utilities. If you need a new roof or HVAC system, those can total tens of thousands of dollars. Even basic maintenance can usually cost around 1% of the value of the house each year, so do you have the budget for that?

    If the costs are simply too high and you can’t lower them, selling may be your only choice.

    Look into increasing income

    Finding ways to bring in extra money could also allow you to keep the house. If you have the space, for example, you might find a roommate to help you pay the mortgage — especially if you have only a few years left on the loan. Living communally may not be fun, but if you can do it for a few years and own the house free and clear, it may be well worth it.

    Renting the house out entirely would be another option until the loan is paid off, provided you could get enough to cover the costs. Being a landlord is a hassle, though, and you risk renters damaging the property and diminishing its value.

    You could pick up a side job or work extra hours too, especially if you only have a short time of making payments left. It’s up to you if the tradeoff is worth it.

    Consider whether living in the home is really right for you

    If you can find ways to afford the property, it’s also worth asking if it’s what you really want. Sure, owning a home is nice, but is it in a good location? Does it meet your needs? Can you see yourself living there over the long haul?

    If you can’t see yourself staying put, it may be better to sell sooner rather than later, instead of struggling to make payments, potentially deferring repairs you can’t afford, and seeing the home’s value decline because of it.

    This may not be your only chance at homeownership

    While it may feel like an inherited home is your only chance at homeownership, especially if you don’t have a lot of money, remember that’s not necessarily the case. You could always sell the home, invest the money, and use it to save for a property of your own that’s more affordable and a better fit.

    The important thing is to consider all of your options carefully, weigh the pros and cons, understand the full financial implications of your choice, and make the decision that’s best for your finances in the long-term rather than acting based on the excitement of finally getting the chance at a home of your own.

    What to read next

    Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

  • Arizona woman tricked into handing over $50K in cash and home address to scammer — who then had her load the funds into his car. What to know to protect yourself as fraudsters get bolder

    Crypto scams that leave victims in financial ruins are on the rise in 2025, but one Arizona woman’s experience shows that scammers are becoming more brazen with their methods.

    As AZ Family reports, a woman from Prescott received a phone call from someone telling her that her Apple account had been fraudulently charged. The scammer reportedly told the woman that she could be arrested if she didn’t submit a payment of $50,000.

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    But this scammer didn’t instruct the woman to pay using cryptocurrency. Instead, the woman was pressured into divulging her home address so that the scammer could pick up the cash in person.

    Victim handed over an envelope full of cash

    The scammer reportedly instructed the Prescott woman to withdraw the $50,000 that she "owed" from her bank account, but warned that she would need to lie to the bank to get the funds. The woman was then told to put the money into an envelope, which the scammer would then pick up.

    Driving a Toyota sedan, the scammer drove to the woman’s house and instructed her to place the envelope in the trunk. It wasn’t until several hours later that the victim realized she had been scammed.

    The woman called the sheriff’s office to report the situation but, unfortunately, the police were unable to find the scammer’s Toyota despite deputies conducting a search of the area.

    And just like many scam victims, the woman is unlikely to recover her lost money.

    Read more: 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

    Americans face a growing risk of fraud

    As the Yavapai County Sheriff’s Office (YCSO) explained to AZ Family, fraud cases have significantly increased in 2025, and scammers are becoming more bold with the ways that they con victims into giving up large sums of cash. Many of today’s common scams involve either the exchange of cryptocurrency or convincing the victim to buy gift cards or wire money.

    Data from the FBI backs up what the YCSO has warned about the rising risk of fraud. The FBI’s Internet Crime Complaint Center said in its 2024 report that financial losses from fraud schemes were up 33% from 2023, exceeding $16 billion. There were nearly 860,000 fraud complaints in 2024, with people aged 60 and over making the most reports and collectively losing close to $5 billion.

    Phishing and spoofing scams remain the most common type of online fraud. These scams typically include criminals pretending to be from a reputable company or entity, such as a credit card company, bank or even the U.S. government.

    These scammers also con victims by pretending to be someone the target may know — such as a boss or someone in the target’s family — conning innocent victims into downloading malicious software, providing personal information or handing over large sums of money. Identity theft, romance scams and check fraud are a few of the other common fraud schemes.

    How to avoid becoming a victim

    With fraud schemes on the rise, Americans need to protect themselves so that they don’t end up losing substantial sums of money like the unfortunate woman from Prescott.

    As the YCSO explained to AZ Family, Americans need to remember that government entities and police forces will never request payment in cryptocurrency, nor will they ever visit your home to collect penalties and fees. Keeping that in mind is a good way to avoid falling for an impersonation scam, which was the same type of scheme that the Prescott woman fell for.

    Here are some other tips that can help you avoid falling victim to a scam:

    • Avoid answering phone calls from unfamiliar numbers.

    • If the "government," a "bank" or another trusted institution calls, call the institution back on an official phone number, which can be found on the institution’s website.

    • Never give money, gift cards or personal information to anyone you do not know and have not met in person.

    • Don’t open or respond to any text messages or emails from unfamiliar people or entities. You should also be very careful about interacting with texts and emails that appear to come from your bank or another institution that you’re affiliated with. The Federal Trade Commission has several tips on how to spot a phishing scam.

    • Limit the personal information that you share online.

    Hopefully, following these tips will help you avoid criminals trying to part you from your money.

    What to read next

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

  • ‘I could not afford the American dream’: Retired veteran moves to Brazil after struggling to get by in the US — why more retirees are now choosing to leave their ‘financial burdens’ behind

    ‘I could not afford the American dream’: Retired veteran moves to Brazil after struggling to get by in the US — why more retirees are now choosing to leave their ‘financial burdens’ behind

    Christopher Boris was struggling in Maryland with a house he couldn’t afford to repair and a disability check that didn’t cover the bills. That’s in the past, though. Now, the retired veteran is enjoying life, spending time with friends, visiting world-famous beaches and hanging out in flip-flops that have become his "staple footwear."

    The big change for Boris came when he left the U.S. behind and relocated with his wife, Maria Jesus, to Brazil, where he says life is both more affordable — and more fun.

    “My last 10 years in the United States, I’d be going to work, working, coming home, and everybody is focused on themselves,” he told CNN Travel.

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    "I feel like I have more social interaction here than I do in the United States. We have a great time listening to music and just talking about normal things.”

    The couple joined a growing number of retirees moving abroad because their money stretches much further.

    A move to Brazil alleviates money worries

    The Boris family opted to move to Brazil when the financial pressure of living in the U.S. got to be too much.

    “I really couldn’t afford my mortgage payments and my utilities anymore,” Christopher told CNN. “I struggled. I was living off of VA disability."

    Disability benefits are paid to veterans harmed in the line of duty. While they’re tax-free, they often aren’t very generous. For example, effective December 2024, a veteran with a 10% disability rating would receive just $175.51 monthly, although rates go up for those with more disability. With Rent.com reporting you need around $63,200 to live comfortably in Maryland, it wasn’t enough.

    The family had been struggling for at least five years, but things got worse in 2022 when Christopher left his government job.

    "I could not afford the American dream,” he said, explaining that he and his wife mulled over the move for around a year before deciding to pull the trigger in pursuit of more financial security.

    "I think my money could go a lot longer living overseas."

    Read more: 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

    Brazil is a popular destination for retirees

    The Boris family aren’t the only retirees who struggled in the U.S. — or who abandoned the country for cheaper foreign destinations.

    Around half of all families in the U.S. don’t have any retirement savings, according to the Economic Policy Institute. And, the National Council on Aging reports that around 17 million older Americans aged 65 and up are classified as being economically insecure, with annual incomes equal to or below 200% of the federal poverty level.

    With that in mind, it’s not surprising that the number of retirees receiving Social Security abroad grew from 431,000 in 2019 to 760,000 in 2024.

    For around 85,000 Americans, Brazil is their destination of choice — and the Boris family was drawn to it because they felt it had a lot to offer.

    “We chose Brazil, and Rio specifically, because of the higher quality of life,” Christopher said.

    “We had first-rate doctors. First-rate everything. You have access to a lot of good-quality services. So that was one of the pluses that we had.”

    The couple had initially considered Bolivia, where Maria Jesus was born, but had lived in Brazil in 2007 and 2008 when Christoper was stationed there while serving in the military. They have been very happy with their choice too, thanks to the walkable neighborhood and sense of community.

    "We didn’t need a car, because we could get anywhere by taxi. Things like going grocery shopping, buying bread, going to a restaurant, getting a haircut. … Everything was at my disposal.” he said.

    "People are a little bit more laidback. And it’s not as stressful as the United States, or the way people perceive us to be.”

    While the family still lives on a budget, their money goes much further — especially as the average cost of a one-bedroom monthly rental in the city comes in at around $334 to $604, while you can get a multi-course meal in a mid-range restaurant for around $31 to $41. For his part, Christopher said he saves around $1,000 on monthly rent and spend little on food.

    “The dollar goes a long way here,” he told CNN. “I live very comfortably. I just have to live on a budget. … I have to be careful.”

    The couple are very happy with their choice and are hoping to become Brazilian residents soon, although they’ve been living on a retirement visa available to those who have at least $2,000 per month in pension income.

    How to decide if moving abroad is right for you

    The Boris family enjoys the culture of Brazil, although Christopher did admit he’s not a fan of revealing clothing, which seems to be the norm there. He’s also said some areas are not the safest, but he knows how to be careful. In general, though, he enjoys the beach, architecture, sense of community and laid-back lifestyle.

    Others considering moving abroad will want to consider the culture they’ll find — as well as amenities, safety risks and living expenses in their chosen destination. There are many cost-of-living calculators and guides to retirement abroad online, and joining expat groups can offer insider info into the best destinations.

    The Boris family had the benefit of having lived in Brazil before, others who are thinking about relocating may want to go visit for a few months before making a permanent commitment — to make sure they feel at home like Christopher and Maria Jesus do.

    "It feels comfortable," Christopher said, "no longer feeling and dealing with the financial burdens I had in the U.S."

    What to read next

    Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

  • Should Canadian retirees own or rent their home? Use this simple ‘5x5x5 rule’ to figure it out

    Should Canadian retirees own or rent their home? Use this simple ‘5x5x5 rule’ to figure it out

    Faced with the rising cost of living, many American retirees are looking to control one of the most fundamental expenses: housing.

    Since the pandemic, the cost of housing has remained stubbornly high. According to a recent report, home affordability slipped further in January, as rising prices raised the income needed for a mortgage in 12 of 13 major markets.

    Moving is not easy at the best of times, but for retirees, deciding whether to rent or own their home will have a long-term impact on their finances and their lifestyle. To help clarify whether renting or owning is your best option, retirement author and YouTube host Geoff Schmidt advises following what he calls the 5x5x5 rule.

    About the 5x5x5 formula

    The 5x5x5 rule is a way to gain clarity on your decision to move by breaking down the pros and cons of renting versus owning both short- and long-term. Most importantly, retirees need to consider where they’ll be — not just geographically speaking — 10 years down the road. Here’s a breakdown of each of ‘five’ in the 5x5x5 rule.

    5 pros of ownership

    The first step in deciding if you want to buy a new home as a retiree is to think about the five big perks of having your own property. For retirees, the pros of owning a home allow you to:

    1. Build equity in your home: Each mortgage payment you make brings you closer to owning your house free and clear with no payments. If you can buy a new home or condo outright by selling your current home, you can still build equity in your new dwelling over time.
    2. Predictability: If you have a fixed-rate mortgage, your mortgage payments will remain consistent for years and you don’t have to worry about a landlord ever making you move.
    3. Tax benefits: While mortgage interest and property taxes are not tax-deductible on a principle residence, you could find tax deductions if you use a portion of your home for a home-based business or to rent out as short-term accommodation or to a long-term tenant.
    4. Customization: You don’t need a landlord’s permission to alter and improve your home.
    5. Home appreciation: Homes generally increase in value, so you can increase your net worth by owning a property.

    5 pros of renting

    Renting also has five significant upsides, particularly for retirees who want greater freedom to travel and to make bigger moves — potentially across the country or even abroad. These include:

    1. Extreme flexibility: You can leave your property after giving notice and go wherever you want much more easily than with an illiquid home you’d have to sell first.
    2. Lower upfront costs: You only have to pay first and last month’s rent and a security deposit to move into a rental, not make a large home down payment.
    3. No maintenance concerns: If something breaks, your landlord is responsible for the cost of fixing it and the actual repairs. You don’t have to build up an emergency fund for maintenance.
    4. Predictable expenses: For the duration of your lease, your monthly housing costs including utilities will remain consistent, even if the cost of energy goes up, for example.
    5. Lack of worry: If you’re in a rental apartment, you won’t have to concern yourself with shovelling snow, mowing grass or other matters of general, external upkeep.

    5 variables that help you make the decision whether to rent or buy

    The last step in the 5x5x5 rule is to consider specific variables that affect you. These include:

    • Financial stability: Considering your current and future Canada Pension Plan (CPP) benefits and retirement income, will renting be more affordable long term, or will owning be more beneficial?
    • Lifestyle preferences: Think about quality of life and what matters to you. Maybe your biggest priority is to be close to family. Perhaps you want easy access to amenities like health care and recreation. Do you want more predictability or more flexibility? Which option — buying or renting — comes closest to matching your desires?
    • Current and future health: Are you in a position to maintain your home and does it have aging-in-place options?
    • Estate planning: Do you want to have a home to leave as an asset to your loved ones?
    • Market conditions: Is it a good time to buy a property? What do you think will be happening in the real estate market in the next decade?

    By asking yourself these detailed questions about your own personal financial goals and lifestyle preferences, it will be easier to decide whether to own or rent now and in the long term.

    This article Should Canadian retirees own or rent their home? Use this simple ‘5x5x5 rule’ to figure it out originally appeared on Money.ca

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

  • ‘Currently not receiving payments’: Social Security website glitch sparks panic — SSI recipients left in the dark as DOGE cuts hit administration hard

    ‘Currently not receiving payments’: Social Security website glitch sparks panic — SSI recipients left in the dark as DOGE cuts hit administration hard

    Millions of Americans rely on Social Security benefits to help cover everyday expenses.

    This includes not only retirees but also individuals with disabilities and those receiving Supplemental Security Income (SSI) due to low income.

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    Unfortunately, recent changes at the Social Security Administration (SSA) — including staffing reductions and website modifications — have led to serious issues. One particularly alarming incident involved a large number of SSI recipients received a message informing them they were no longer receiving payments.

    This message set off a panic among the 7.4 million adults and children who depend on SSI, a crucial anti-poverty program that provides income to some of the most vulnerable Americans.

    Here’s what caused the error, and what you can do if something similar happens to you.

    What happened to cause panic

    In March, a significant technical glitch caused widespread confusion and alarm among SSI recipients.

    They incorrectly received a notice informing them that they were "currently not receiving payments." At the same time, benefit data and payment histories disappeared from their accounts.

    An internal email later confirmed the message was an error. The SSA identified and resolved the glitch by March 31, restoring access to accurate benefit information. Payments were also made on schedule, but the lack of immediate clarification left many recipients deeply unsettled.

    While this was the most severe occurrence, it’s not the only one. President Donald Trump created the Department of Government Efficiency (DOGE), led by Elon Musk, which has been making sweeping changes to Social Security that have disrupted operations.

    Notably, the Social Security website has experienced frequent outages — some lasting only 20 minutes, others stretching close to a full day. Users have reported trouble signing in, missing account data and slow site performance. Staff also been forced to cancel appointments when the system failed to process new claims.

    Many of these problems appear to be linked to a new anti-fraud system implemented by DOGE, which, according to The Washington Post, was not adequately tested. Contributing further to the chaos are the 7,000 eliminated jobs, including 800 positions responsible for managing Social Security databases. Thousands more jobs are expected to be cut in the coming weeks.

    DOGE has also shuttered field offices and reduced telephone support, driving more people to the already overwhelmed website just as the new anti-fraud tools were rolled out.

    Read more: 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

    What to do if you received a message about your benefits

    If you receive an alarming message from the SSA, try to stay calm. With ongoing policy changes and operational disruptions, many issues are likely due to temporary glitches.

    Here’s what you can do:

    • Call your local SSA office: It may take time to get through due to long wait times, but speaking with an agent directly can clarify your situation.
    • Check for news updates: Major issues with benefits are usually reported by media outlets. You can also follow trusted Social Security-related forums or social media for similar user experiences.
    • Connect with others: if other recipients are reporting the same issue, it’s likely a widespread problem and not specific to your account.
    • Check your bank account: Even if the website shows incorrect information, your benefits may still be deposited. SSI recipients who received the erroneous notice were ultimately paid on time.

    With changes at Social Security expected to continue for the foreseeable future, it’s important to stay informed. Be sure to monitor your account regularly, and keep the number of your local field office handy in case you need it.

    What to read next

    Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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

  • ‘A major travesty’: St. Louis couple awarded $48.1M in suit against hospital after they were ‘blindsided’ by negligence during childbirth — what to know if you’re the victim of malpractice

    ‘A major travesty’: St. Louis couple awarded $48.1M in suit against hospital after they were ‘blindsided’ by negligence during childbirth — what to know if you’re the victim of malpractice

    St. Louis’ Blake and Sarah Anyan’s story begins as a fairy tale. The high-school sweethearts were expecting their first baby.

    The couple chose Mercy Hospital — dubbed ‘The Baby Palace on Ballas’ — for prenatal care, labor and delivery. They chose the hospital not only because it is known for its obstetrics care, but because Sarah was employed there as a cardiac nurse and Blake worked there as a respiratory therapist.

    Sarah’s pregnancy was a typical one, with her active baby kicking her often on her nursing shifts. When she went into labor, she headed to the hospital to welcome her baby boy Remi. That’s where everything went wrong.

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    What happened next would change the couple’s lives forever and lead to a record-setting $48.1 million verdict against the hospital for its failures.

    Baby suffered severe harm in labor, delivery

    Sarah was given an epidural at 10:42 p.m. At 3:50 a.m., she began pushing. Pushing for more than three hours is dangerous. She pushed for 12 hours.

    The couple, who trusted their health team, weren’t offered a C-section or told of the risks of prolonged pushing.

    “Speaking as a nurse, I was really, really disappointed that they didn’t share that with me," Sarah told News Alert 4 in St. Louis.

    Read more: 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

    Another thing the health team didn’t reveal? That their baby boy Remi was in distress during the prolonged labor.

    To their shock, when Remi was delivered, he was floppy, didn’t cry, had poor tone and began having seizures.

    “We were pretty much blindsided,” Sarah said.

    Sadly, their son suffered severe and permanent harm. Now 5 years old, Remi has full cognition but can’t walk or communicate. He has cerebral palsy.

    “It’s just a major travesty,” Blake said. “It hurts us as parents, but it also hurts us as care providers. That’s so far away from what we’ve been taught to do, and what I teach my students to do. It’s just heartbreaking.”

    The Anyans filed a malpractice lawsuit against Mercy Hospital, its nurses and their obstetrician Dr. Daniel McNeive for medical negligence.

    Medical malpractice laws hold providers accountable if the care they provide falls below a professional standard. Birth injuries are a top reason for malpractice claims.

    Expert witnesses said expecting a mother in labor to push for 12 hours was inexcusable, adding that the hospital failed to respond properly after Remi was born. One possible intervention — therapeutic hypothermia — could have reduced his injuries by up to 30%.

    The couple won their malpractice suit. The jury awarded them $48.1 million in the verdict, of which $20 million was for punitive damages.

    "So grateful that they took what happened seriously and didn’t give up faith in Remi, and that they would try and help him move forward," Blake said.

    Mercy is appealing the ruling. In a statement, they wrote:

    "We stand by the care provided by our team … No evidence was ever introduced suggesting dangerous patterns or practices of behavior by Mercy or Dr. McNeive, nor did the jury make this finding. The case remains pending with the court, and Mercy will continue to seek appropriate resolution for the benefit of the Anyan family.”

    What can malpractice victims do?

    The Anyans aren’t the only ones harmed by a medical error. A Johns Hopkins study found that medical errors are the third-leading cause of death in the U.S.

    Top reasons for malpractice suits include:

    • failure to diagnose/delayed diagnosis
    • radiology errors, such as misreading X-rays
    • failure to obtain informed consent
    • surgical errors, such as operating on the wrong body part or leaving instruments inside patients
    • anesthesia errors
    • medication errors

    Victims of malpractice must demonstrate they were damaged by medical negligence and deserve compensation for losses. If successful, they are owed payment for medical bills, lost wages, pain and suffering and emotional distress.

    However, many states cap non-economic damages (for pain and distress) at $500,000 or less.

    If you or someone you love has experienced medical negligence, it’s important to take legal action quickly. There are time limits for pursuing a claim — usually within one to four years of discovering your injuries — so don’t wait.

    If legal costs concern you, you can work with a personal injury lawyer on a contingency-fee basis. Such lawyers offer free case evaluations and don’t charge legal fees upfront. They subtract legal fees from any compensation they recover on your behalf.

    To support your case, gather and maintain all the documentation you can — medical records, names of your care team, and records of any followup care you have received as a result of your injuries.

    The Anyans took action not only to advocate for themselves, but to inspire others — as Sarah tells her son Remi.

    “You’ve got two choices in life. You can be angry and bitter and hang on to that anger your whole life. Or you can choose to inspire people," Sarah said. "And I tell him that all the time — he’s going to inspire people."

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

  • Analysts warn of $3,500 iPhones if Trump actually brings back manufacturing jobs to the US — here’s why Americans will be left holding the bag

    Analysts warn of $3,500 iPhones if Trump actually brings back manufacturing jobs to the US — here’s why Americans will be left holding the bag

    President Donald Trump says his tariffs on imported goods are encouraging companies to invest in the U.S., claiming that will lead to "better-paying American jobs making beautiful American-made cars, appliances, and other goods."

    Like iPhones, which Trump has publicly stated he wants Apple to produce in the U.S.

    But critics say it could take years for American workers to develop the 21st-century manufacturing skills that overseas workers have already mastered.

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    "In the U.S. you could have a meeting of tooling engineers, and I’m not sure we could fill a room.” Apple CEO Tim Cook says. “In China, you could fill multiple football fields."

    In the meantime, critics warn, consumer products will continue to be manufactured overseas, and Trump’s tariffs will drive prices of those imports higher.

    What made-in-the-U.S.A. goods could cost companies, consumers

    There’s a reason companies moved production offshore in the first place: It’s cheaper thanks to lower labor costs. As a result, American consumers have long benefited from lower prices.

    George Carrillo, CEO of the Hispanic Construction Council, says garments and furniture made overseas are generally 20% to 50% cheaper than U.S.-made goods. But for some products, like consumer technology items, the differential is even bigger.

    Apple, which makes 80% of its products in China, is a good example.

    Read more: 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

    Bank of America Securities analyst Wamsi Mohan told CNBC that if iPhones were made in the U.S., they’d cost $1,500 instead of $1,199 due to labor costs.

    Dan Ives specializes in technology as a senior equity research analyst at Wedbush Securities. He says American-made iPhones would cost significantly more — $3,500 — because Apple would not only have to pay U.S. wages, but spend $30 billion to move 10% of its supply chain back onshore.

    If higher-paid American workers assembled the Apple Watch in the U.S., Apple would still need to import parts from Japan, South Korea, China and Europe. Those imported parts would be subject to Trump’s tariffs, driving manufacturing costs and consumer prices higher.

    With Americans already struggling with inflation and a related surge in consumer debt, these added costs may be unsustainable.

    Is it realistic for manufacturing to come back?

    Offshoring began in the post-war 1950s and 1960s as more countries built factories to encourage foreign investment.

    American firms were eager to move jobs offshore to enjoy up to a 50% reduction in labor costs, The IT revolution in the 1990s accelerated the trend. Between 2000 and 2010, the U.S. lost a third of its manufacturing jobs.

    In the meantime, AI and robotics have revolutionized manufacturing.

    Adam Balogh trains students at one of the few machine technology centers that exists in the U.S. — at Laney College, a community college in Oakland, California.

    "Our big limiter here is the workforce,” he told ABC7 News. “We just haven’t been training people for these roles.”

    He believes that to revive the U.S. manufacturing sector, more American students would have to learn robotics in middle school and high school, before even reaching community college.

    Even if the U.S. workforce was ready, firms need to build new factories in the U.S.

    In an article for Barron’s, Erin McLaughlin, a senior economist at The Conference Board, noted that it could take anywhere from three to 10 years to shift an assembly plant to the U.S.

    "It would take decades to onshore at the scale that we need to keep up with American consumer habits," Lance Hastings of the California Manufacturers and Technology Association told ABC.

    In other words, Trump’s tariffs will hit American pocketbooks before they change the U.S. manufacturing landscape.

    What to read next

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

  • I’m 63 years old, have $800K in savings and I was all set to retire in four months — but now I’ve just got a fantastic new job offer. Should I take it or stick to my plan?

    I’m 63 years old, have $800K in savings and I was all set to retire in four months — but now I’ve just got a fantastic new job offer. Should I take it or stick to my plan?

    Making the decision to retire is a big deal, and signifies a major lifestyle change is coming. Let’s say you’re just four months away from your planned retirement, odds are you’ve been gearing up for this next stage and getting everything in order to enjoy your life of leisure for a while now.

    You’ve got a decent nest egg and you’re ready to really hone your golf game. What happens, though, if a perfect job comes along in this situation?

    Let’s say you’re offered a position that’s five minutes from your house, with good benefits, no workplace drama or stress and a good friend who works at the same company and says it’s great.

    Oh, and let’s say that the job provides just half of your current pay — but the pay is pretty close to what your retirement income would be.

    Should you stick with your plan for retiring in this situation or should you take the lower-paying job that allows you to get out of your current work environment sooner, keep insurance coverage for you and your spouse and delay collecting your retirement benefits to make your money last longer?

    Here’s what you should consider as you make this decision.

    How will taking the new job impact your retirement savings?

    When you take a big pay cut, obviously you’re not going to be able to save as much for retirement as you would at your current job. However, with only four months left to go until you stop working, chances are good that you weren’t going to be adding much to your nest egg anyway.

    In fact, by delaying when you start drawing from your retirement accounts, you can end up in a much better place financially.

    Your money can stay invested and keep benefitting from compound growth instead of you beginning to make costly withdrawals. You can also delay claiming CPP and keep increasing your monthly benefit until as late as 70 years old, which could more than double. Instead of receiving $800 per month at 60, you will receive $1,775 at 70. That’s a big increase, on top of the fact you’ll also be growing your invested funds.

    How much income do you need to live on?

    You’ll also need to consider how much income you need to live the lifestyle you’d like to live in retirement. While your new job may provide an income similar to what you’ll earn in retirement, continuing to work rather than being at home can come with added costs.

    You may have more commuting expenses, for example, although that should be negligible with the office just five minutes from your house. However, you may also be more likely to buy lunch at work or need costlier work clothing, which can mean you need a little more money.

    At the same time, keep in mind that working longer will likely increase the income you eventually have as a retiree. If you have more of a cushion to live on in your later years because you take this new job, you may be better off — especially given uncertainty around the nation’s economic prospects in the near future.

    Would retirement make you happier than working?

    Your happiness matters when it comes to retirement decisions. If you have been looking forward to retirement and don’t want to spend more years working, then you should likely not put off quitting even if the perfect job comes along. Especially if you already have enough money to retire.

    And with 30% of retirees being at risk of becoming socially isolated, it may be prudent to take a new job if it will help you maintain social connections. You can always work on your golf game on the weekends.

    You should carefully consider all of these issues as you decide what’s right for you. An unexpected change in circumstances can be shocking when you had plans in place, but it may just end up being a blessing that makes your future retirement a much more enjoyable one.

    Sources

    1. Government of Canada: Deciding when to start your public pensions

    This article I’m 63 years old, have $800K in savings and I was all set to retire in four months — but now I’ve just got a fantastic new job offer. Should I take it or stick to my plan? originally appeared on Money.ca

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

  • I spent years building up $27,000 in my 401(k) but lost track of it when I switched jobs — now my old company won’t help me find the account. Is this even legal?

    I spent years building up $27,000 in my 401(k) but lost track of it when I switched jobs — now my old company won’t help me find the account. Is this even legal?

    Imagine working day-in day-out, dutifully contributing money to a 401(k) for years — and then losing track of the money when you leave your job. Mortifying, but also extremely common.

    In fact, in 2023, Capitalize estimated 29.2 million 401(k) accounts were lost or forgotten across America, containing $1.65 trillion in assets.

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    Some people who forget old 401(k) accounts never remember they exist. But what if you do remember the account — but you can’t remember which plan administrator holds the funds, and the company you used to work for won’t help you?

    Your money, your rights

    Contributions you personally make to your 401(k) are 100% vested. This means the money you put into the account and any growth from investments is yours to keep right away. So, your company can’t withhold your old account from you, even if none of the company’s contributions are vested yet.

    You should be persistent in contacting them to find out where the account is. Start by reaching out to HR, but if that doesn’t work, contact your former manager or even the CEO to get answers. Be polite but firm and insist they provide you with information about your old plan.

    Plan sponsors are “obligated” to stay connected with former ex-employee participants, according to the Society for Human Resource Management.

    But if the company is no longer operational, or if the people working there now can’t or won’t answer, then you have other options, including:

    • Reaching out to old coworkers to see if they know who your plan administrator was
    • Searching through old emails or financial records for statements or account notifications, as most plans send these quarterly or annually
    • Reviewing your old pay stubs for information about 401(k) deductions

    If none of these efforts work, online databases can help you track down the account. For example, while not all companies participate, some businesses register unclaimed 401(k) plans with The National Registry of Unclaimed Retirement Benefits. You can input your Social Security number into the registry to see if your company has your 401(k) listed.

    Read more: 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

    Alternatively, if your company terminated your old plan, or is in the process of doing so, then you may be able to find it in the Department of Labor’s abandoned plan database. Some private sites like Beagle or Capitalize can also try to help you.

    Keep trying these options until you ultimately identify where your 401(k) plan is. Then, contact the plan administrators to confirm they are holding the account and make a plan for what to do with the money.

    How to avoid losing your old 401(k)

    As you can see, tracking down an old 401(k) can be a hassle. Thankfully, you have better options than just leaving your 401(k) behind when you leave a job.

    One solution is to roll the money over into your new company’s 401(k). The biggest benefit of this option is that you can keep all your workplace retirement money in one place. Doing that can make it easier to ensure you have the right mix of assets since you can easily see your overall allocation within one account.

    However, you also have another option, which many people prefer. You can roll the money into a traditional IRA.

    You’ll need to either do a direct rollover so the money moves right from your 401(k) to your IRA, or if your 401(k) company sends the money right to you, you will need to deposit it into the IRA within 60 days to avoid early withdrawal penalties. If you do that, there are no tax consequences to the move.

    Moving your money into an IRA gives you more freedom and flexibility since you can pick your brokerage firm and can choose a broker that allows you to invest in almost anything you want. You also won’t have to keep moving 401(k) money around every time you leave a job, since all the funds you rolled over can just stay in the IRA.

    Whichever account you decide to roll the money into, if you move it with you, then you won’t have to worry about trying to contact old employers to find out where your funds are. You’ll have the money safe and accessible to you to help you build the secure retirement you deserve.

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