Author: Christy Bieber

When Bob and Marjean Taylor went to stay in a friend’s cabin an hour from the nearest hospital back in 2022, neither expected that Bob would have his second heart attack within four months while they were vacationing. Unfortunately, that’s exactly what happened.

Marjean took him to the local hospital, but they were told he needed more care than the facility could provide. An air ambulance arrived, transporting him to a medical center where his cardiologist was waiting to repair a stent that had torn. The procedure saved his life, but sadly, Bob’s troubles weren’t over.

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Soon after they returned home, the Pueblo, Colorado couple received notice that their insurer, Anthem Blue Cross Blue Shield, was denying their claim for the air ambulance, saying the transport wasn’t medically necessary and sticking the Taylors with a bill totaling around $94,000.

“It gave me a heart attack, almost,” Marjean told Denver7 Investigates of the unexpected bill.

Unfortunately, air ambulances have become very expensive, and a growing number of insurers are denying claims for them, leaving Americans who’ve suffered medical crises holding the bag. Here’s what you need to know.

Air ambulances save lives, but at a huge expense

Air ambulances are helicopters or planes designed to provide timely transport of patients to medical facilities. They’re often used in rural areas where medical care is scarce.

With an aging population, more people relocating to remote areas during COVID-19, and the increased prevalence of infectious diseases, the market for air ambulances is growing.

In fact, according to Technavio, a market research group, the air ambulance market saw 9.63% year-over-year growth from 2022 to 2023 and is expected to increase by $6.77 billion between 2024 and 2026.

Sadly, prices for air ambulances have skyrocketed, as a growing number of private equity firms have moved into the market.

Insurance companies often don’t want to pay

One would think that insurance companies would cover the costs of air ambulance services in most cases, since they’re almost always called in an emergency. Unfortunately, data shows a growing number of insurers are denying claims.

Part of the problem is that when an air ambulance is called, patients aren’t checking if the company is in-network or not. This may not be a high priority when you’re being airlifted to a hospital during a heart attack or in the wake of an accident.

It shouldn’t matter if the ambulance service is in-network, as starting in 2022, policyholders were supposed to be protected from unexpected bills under the No Surprises Act.

This act prohibited surprise bills for:

• Most emergency services, regardless of whether they’re in network or out-of-network
• Out-of-network services provided when a patient visits an in-network facility (such as anesthesia administered by an out-of-network anesthesiologist at an in-network hospital)

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However, insurers can still pass on out-of-network costs to claimants if the service isn’t considered medically necessary. Perhaps unsurprisingly, insurers now claim that many ambulance trips aren’t needed. In fact, the National Association of EMS Physicians warned policymakers in a February 2024 letter that they have seen a “spike in denials of claims on the basis of ‘lack of medical necessity.’”

Being transported to a hospital during a heart attack seems pretty necessary — and yet the Taylors were still told they had to pay. They had to go through multiple appeals over two years and ultimately get the press involved before their insurer finally resolved the issue, blaming unclear communication for the problem.

Not everyone will be lucky enough to get the press involved, though, and the couple faced a lot of stress in the meantime.

“I just felt like we were stuck in the middle of all these companies and nobody cared,” said Marjean.

“After I got off the phone, I said, ‘I cannot believe this is done,’ and I started crying. But I wasn’t giving up. I was not going to give up. I was not paying for it.”

How can you avoid big health care bills?

Air ambulance costs are a growing issue, but there are other ways you could find yourself stuck with a hefty bill for health care services.

Here are some steps you can take to protect yourself:

• Get pre-approval for medical services from your insurer in non-emergency situations
• Know your rights under the No Surprises Act
• Shop carefully for the right insurance policy that offers comprehensive coverage from a provider with a good reputation
• Visit in-network providers whenever you have the option
• Request itemized bills to understand what you’re being charged for
• Negotiate with providers and the billing department if you think you’re being overcharged
• Appeal denied claims, and be prepared to provide documentation
• Hire a medical bill advocate to help you fight unfair bills

These steps can help you avoid the financial devastation that comes with big medical bills your insurer should pay for, but does everything possible to avoid.

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

Running out of money in retirement is a huge fear for many people. In fact, over 60% of Canadians are worried that they will not have enough money to last them through their golden years, per a study conducted for Canada Pension Plan (CPP) Investments.

It’s understandable to be worried about this because, when you retire, you most likely have to rely on savings and CPP, which, as of 2019, is meant to replace 33% of a person’s lifetime earnings. If your savings runs out, you’ll be in trouble, and you don’t want to face this fate.

The worry is even more accurate for people in their late 50s and early 60s, who are entering the final stretch of their working years.

The good news is, you shouldn’t have to worry. No matter how modest your nest egg, and no matter how close you are to retirement, you can adopt a smart strategy for withdrawing your funds in a way that makes them last.

Here’s what you need to know to make that happen.

Choosing a safe withdrawal rate

Choosing a safe withdrawal rate is the most important thing you can do to make your money last. This means you limit the amount you take out each year to ensure you leave enough in your account to continue earning returns and avoid dropping your principal balance too fast.

There are many different ways you can do that.

The most conservative option is to live on interest alone. If you have $1 million and earn 3% interest, you’d live on the $30,000 annual yield and not touch your actual nest egg.

The problem is, you don’t necessarily earn a consistent or substantial amount of interest every year since investment performance fluctuates. That’s on top of the obvious fact that if you aren’t planning to draw down the balance at all, you need to amass a pretty large balance to produce an annual sum that you could conceivably live on: having a million dollars at retirement is easier said than done.

And we haven’t even brought up inflation yet. Hence the second option, what is commonly called the 4% rule, according to which your money should last at least 30 years if you only take 4% out in Year one of retirement and increase the amount to keep pace with inflation.

However, this has some problems too. Most notably, experts now say you must cap withdrawals at 3.7% for your money to last since future projected returns have declined while lifespans have gotten longer. The 4% rule also doesn’t respond to changes in market conditions.

What’s your risk tolerance?

No matter which option you pick, it’s smart to consider the level of risk you want to take on. The more risk-averse you are, the smaller your withdrawals should be. You should also have at least two years of liquid, accessible cash you can live on to avoid having to make withdrawals during a downturn and lock in stock market losses.

If you follow one of these methods, you can hopefully ensure your money lasts as long as you do. A financial advisor can also help you develop a personalized approach to retirement withdrawals tailored specifically to you, if you want the very best chance of making your money last.

Sources

1. Canada Life: CPP payment dates: How much CPP will I get?

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

McDonald’s is one of the most iconic American brands out there, and it’s done well through times of uncertainty — including during the COVID-19 pandemic, when it was easily able to pivot to delivery and takeout thanks to technology investments it’d been making for years.

That’s why it’s such a troubling sign that the brand has been performing poorly.

"While we anticipated a challenging environment in 2024, our performance so far this year has fallen short of our expectations," CEO Chris Kempczinski said in the company’s Q3 2024 earnings call, reported TheStreet.

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Kempczinski attributes the company’s poor performance, in part, to the fact that "consumers, especially those in the low-income category, were choosing to eat at home more often," and said that this is an industry-wide trend.

However, he also believes part of the problem may be that McDonald’s has "lost its way and ceded an important part of its brand identity to rivals."

Kempczinski’s warnings about McDonald’s are important because of what they say about the economy as a whole. But those who like to eat at McDonald’s should also consider what the statements suggest might happen to the cost of their favorite fast-food meal.

Poor performance at McDonald’s could be a sign of a troubled economy

The downturn at McDonald’s is important for everyone to pay attention to. The drop in sales — especially by people with lower incomes — could mean that people simply do not feel they have the money to eat out right now, even at inexpensive places like McDonald’s.

The data backs this up. A report by PYMNTS revealed that 98% of people who live paycheck to paycheck have changed their behavior to deal with rising prices at restaurants, including eating out less often or “trading down” to lower-cost items on the menu.

This probably isn’t a surprise to most people who have been coping with economic uncertainty in recent years.

In the aftermath of the pandemic, inflation surged to multidecade highs. Food and energy — two essential expenses you can’t escape — saw especially big price increases, and people are feeling the pain.

In fact, the Pew Research Center found that 63% of Americans described inflation as a "very big problem," in 2025, and one that affects their overall perceptions of the economy, with 45% of people saying the economy is only in fair shape and 31% describing it as being in poor shape.

Sadly, the consequences of struggling consumers extend beyond the impact on McDonald’s profits.

"Restaurants are a canary in the coal mine,” Michael Halen, a senior restaurant and food service analyst at Bloomberg Intelligence told Marketplace in 2024.

“Typically, you know, you see a slowdown in consumer discretionary spending in restaurants before you see it in other places.”

If there is a general slowdown in consumer spending, this raises the risk of a recession as reduced demand means companies tend to cut back, which in turn can increase unemployment and lead to further cuts — all of which impedes economic growth.

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McDonald’s is focusing on value, so the price to you could soon fall

While McDonald’s problems may indicate a reason to worry about the economy as a whole, there is a little bit of good news. Kempczinski has said the fast-food chain is going to shift its focus back to providing the best value for customers so people will feel like eating there is within reach — even while overall economic conditions aren’t great.

"We have moved with urgency in partnership with our franchisees to improve our value offerings in most of our major markets," Kempczinski said.

Some examples he cited include discounted happy meals in France, three for 3 pounds meal deals in the UK, and coffee for a dollar in Canada.

"As we have said before, we view good value as including both entry-level items and meal bundles at affordable price points," Kempczinski explained.

This includes Every Day Affordable Price Menus that have "compelling entry-level price points" for things like breakfast, as well as on beef and chicken sandwiches for lunch and dinner.

McDonald’s is not the only fast-food chain looking to capture the limited consumer dollars people feel comfortable spending.

Wendy’s has introduced a $3 breakfast meal, while Jack in the Box plans to offer more value items as well.

“Value is going to be something we talk about for the rest of the year,” Jack in the Box CEO Darin Harris told investors in 2024, reported Restaurant Business, when a slowdown in fast-food consumption was starting to emerge.

“We know the competition is doing that. So we will be in the game.”

So, as McDonald’s focuses on showing people it’s still affordable during challenging economic times, more people may once again start stopping in to the Golden Arches for a good deal — even if economic conditions as a whole have them feeling like they don’t have quite enough.

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

The Ventura County Sheriff’s Office has Southern Californians on the alert for a new strain of phone scams that cost one Ojai resident his life savings.

Someone claiming to be a law enforcement agent with the United States Marshals Service called him and told him to send all his money to an out-of-state location.

As KTLA 5 reports, after the Ojai man complied with the instructions, he met with local police and discovered he’d been conned.

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The Sheriff’s Office issued a release warning people to be wary of this and other scams involving government impersonation.

Government impersonation scams on the rise

Their warning is relevant nationwide, as a growing number of con artists impersonating government agents are scamming Americans out of their hard-earning savings.

Last year, the U.S. Marshals Service warned of a spike in similar scams in Cincinnati, as reported on the local station WLWT 5.

Of course, government impersonation scams aren’t limited to phone calls.

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In 2023, the FBI’s Internet Crime Complaint Center (ICC) reported a spike of more than 60% in online government impersonation scams that robbed 14,190 people — the majority of them older adults — of more than $390 million in savings.

What can you do if you’re scammed?

If you’re the victim of an impersonation scam (whether it’s someone posing as a federal agent, IT professional or a bank rep) you can try to get your money back.

But it’s important to act fast.

The Federal Trade Commision advises that you immediately attempt to stop payment or reverse the financial transaction.

Do this by contacting the relevant credit card company, financial institution, wire transfer company or money transfer app immediately. A credit card company is likelier to do this. If you sent cryptocurrency, you have no chance of recovery.

While you’re dealing with these financial institutions, change your account numbers and freeze your credit so no one can open new credit in your name.

Contact Equifax, Experian, and TransUnion (the three major credit bureaus) to alert them of the scam.

Report the crime to local police and the Federal Trade Commission. This will help authorities investigate these crimes and warn others if fraud is occurring.

How can you avoid being scammed?

Anyone can fall victim to a scam, but you can reduce the odds by following these tips:

• Understand that people can spoof numbers so it looks like they’re calling from a government agency (or bank or even your family). Look up the official phone number to confirm legitimacy and call back if necessary.
• Be aware that no legitimate business or government agency requests payments via cryptocurrency, money transfer app, or wire transfer.
• Do not provide remote access to your financial accounts or account information via phone or email unless you initiated the call.
• Do not wire or give money to someone you don’t know and never mail cash to anyone.
• Talk to a trusted family member or a banker before wiring any money in a transaction you didn’t initiate.

Finally, resist pressure to act quickly. Time pressure is something con artists use to get their victims to hand over cash before they can think things through.

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On March 26, 2025, President Donald Trump announced new tariffs on foreign autos. A fact sheet prepared by the White House said the tariffs would apply to imported passenger cars and light trucks, as well as many auto parts such as engines, transmissions, powertrain parts and electrical components.

The tariffs won’t just apply to cars made by foreign companies, but also vehicles sold by U.S. carmakers but produced overseas. The fact sheet says the tariffs are essential to “protect America’s automobile industry, which is vital to national security and has been undermined by excessive imports threatening America’s domestic industrial base and supply chains.”

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Although Trump announced a 90-day pause on all of his “reciprocal” tariffs on April 9, that doesn’t apply for several sector-specific tariffs Trump introduced, including the 25% tariff on auto parts. And then on April 15, he floated the idea of providing certain companies with more time to bring their manufacturing arms to the U.S., but didn’t offer any specifics.

The Trump administration hopes the new tariffs, which are essentially taxes on imported goods, will encourage carmakers to bring production back to the U.S. and increase manufacturing jobs. However, there are some concerns that the added costs could adversely impact both auto manufacturers in Michigan, as well as the U.S. car market as a whole.

How will Michigan auto makers be affected by new tariffs?

According to the Detroit Regional Chamber, Michigan is the “auto capital of the world.” A total of 21% of all U.S. auto production happened in Michigan in 2022, and 98 of the top 100 U.S. carmakers have a presence in the Great Lakes State, while 65% are headquartered there. Around 20% of the Michigan workforce is also employed by the auto industry, which amounts to 1.1 million jobs.

Despite these impressive numbers, this is a marked decline from the role the auto industry used to play in Michigan’s economy CNN reports. There’s been a 35% reduction in jobs in Michigan auto plants since 1990, and the number of auto industry jobs has been cut roughly in half since that time.

Trump is hoping the tariffs could bring some of these jobs back, and there are others who believe he could be on the right track.

Democratic Representative Debbie Dingell, who represents Michigan’s 12th Congressional District, said: “I am somebody that believes tariffs are a tool in the toolbox,” and while she hopes the president’s actions could help restore jobs in her state, she also expressed concern that his administration’s actions may have gone too far, comparing it to a “meat ax.”

The United Auto Workers also called the tariffs a “victory for autoworkers,” and “the beginning of the end of … the free trade disaster,” and released a statement saying: “With these tariffs, thousands of good-paying blue collar auto jobs could be brought back to working-class communities across the United States within a matter of months, simply by adding additional shifts or lines in a number of underutilized auto plants."

However, those opposed to the tariffs argue that it takes time to build factories and change supply chains, so new jobs won’t be created right away. Instead, they say the immediate effect will be lost jobs. They may have a point, as around 900 workers of a Michigan auto parts factory that exports to Canadian and Mexican plants have already been laid off.

Additional layoffs could follow as a result of higher costs of importing parts that go into Michigan-made cars, as well as because of reciprocal tariffs other countries may put on U.S.-made autos and auto parts in response to the president’s new tariffs.

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“The increased costs would cause significant disruption throughout the supply chain and, perhaps most importantly, lead to significant price increases to the cost to American consumers for vehicles,” according to a letter from Detroit Regional Chamber and MichAuto, an automotive and mobility association shared by Reuters.

How will the car market as a whole be impacted?

It’s not just autoworkers in Michigan who are likely to be impacted by the president’s actions.

Around half of all vehicles purchased in the U.S. in 2024 were imported, and even many cars made in America had only 40% to 50% domestically-made parts. As a result, just 25% of all cars sold here can actually be considered to be “made in America,” according to the White House.

Unfortunately, imposing a 25% tariff on cars and car parts could make all the rest of those cars much more expensive. In fact, Dan Ives, of Wedbush Securities, a Wall Street firm, shared he estimates that the average price of cars is expected to increase between $5,000 and $15,000. As new car prices surge, this will increase demand for used cars, driving up prices for these vehicles as well.

Some people are rushing to purchase new or used vehicles before the full effects of the tariff hit and prices go up. If you’re already in the market and have the money, this may not be a bad idea.

For those who may need a car in the coming months or years but aren’t ready to pull the trigger yet, it’ll be important to find other ways to keep costs down, including downgrading and buying a cheaper vehicle than you might have hoped, sticking to used cars, and arming yourself with the information you need to negotiate effectively on price — such as the latest blue book valuations of vehicles you’re considering.

Unfortunately, with car prices climbing, there may also be more pressure to take out larger auto loans and auto loans with longer terms. Resist this temptation if you can, as auto loan balances have already hit record highs — as have defaults — and borrowing too much for a car could harm your other financial goals.

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

“Do or do not, there is no try,” were the wise words of Yoda — and in 2018, Mike O’Dell took them to heart.

He drew a Star Wars stormtrooper on a large sheet of graph paper, cut the pattern into sections, sewed the fabric onto the paper and began quilting over the design using a process called foundation paper piecing.

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As a new quilter, he found the process easy. That success sparked an idea: license images and create quilting kits to sell online. The idea blasted off. Last year, he sold $1.25 million worth of his kits — branded Legit Kits — on Shopify, and earned another $150,000 selling quilts through the now-bankrupt Joann Fabrics.

While O’Dell’s side hustle has been more successful than most, his story still offers inspiration — and practical advice — for others looking to launch their own ventures.

Rebellions are built on hope

O’Dell told CNBC Make It that he devotes one day a week to his side hustle while working four days a week as a nurse anesthetist. His full-time job pays him $240,000, so he’s not planning to give it up anytime soon.

"It’s kind of hard to beat an anesthesia salary," he said. "I’ve got three kids, and I want my kids to go to college."

Balancing both jobs has been challenging. O’Dell admits to losing sleep and feeling stressed. But his creative work helps him cope with the more intense pressure of his hospital job.

"The burnout that I feel at the hospital fuels my energy to do the other thing for myself," he said. "It turns the volume down when everybody’s mad at work. I hear it, but I’m like, ‘I’m not going to manage my people that way.’"

Despite Legit Kits bringing in over $1 million last year, O’Dell says the business isn’t profitable enough for him to quit his day job just yet.

"You don’t really get to keep most of the money that your business makes," he explained. "It goes right back into it. When we were consistently breaking $100,000 a month in sales, I was like, ‘Yeah, this is it. But then you’re spending $100,000 a month, too.’ "

This year, he plans to pay himself just $50K from his business, although he hopes that the number will grow as he increases marketing efforts, hires for custom work and tries to expand into more retail stores.

While it may not yet match his hospital salary, O’Dell values the flexibility and reduced stress that Legit Kits could eventually offer if it continues to grow.

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The Force will be with you, always

O’Dell believes there are many opportunities to start a successful side business — it’s just a matter of finding one that fits your skills and passions.

One of the easiest ways to start is to use platforms designed for part-time work. Apps like Uber, Lyft, Thumbtack, and Rover make it simple to earn cash by offering services such as ridesharing, handyman tasks and pet sitting.

However, these platforms often cap your earning potential. If your goal is to turn your side hustle into a substantial business, you may need to offer more specialized skill, — such as freelance writing, tutoring or engineering — or identify a specific market need and build a business to address it.

Think about what your strengths and interests are. What gaps are there in the market that you might be able to fill? You might sell products on Shopify or Etsy, or create your own website and use social media to attract customers.

As O’Dell advises, it’s important to set clear goals so you know what you’re working toward.

You’ll also need to manage your time carefully to avoid burnout. Most people find that 10 to 20 hours a week is manageable alongside a full-time job. And, like O’Dell, you should be prepared to reinvest your profits if you want to grow your business.

If you’re serious about success, research the market and craft a business plan that outlines your path to profitability. That way, your million-dollar idea stands a better chance of actually earning a million someday.

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Homeowners in New England are at risk from a devastating scam that could destroy their financial security. Massachusetts-based officials from the FBI recently sounded the alarm about the crime, urging people who own property to be on the alert.

"Folks across the region are having their roots literally pulled out from under them and are being left with no place to call home," Jodi Cohen, special agent in charge of the FBI’s Boston Division, said in a release on April 1.

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The scam that residents are falling victim to is known as quitclaim deed fraud, home title fraud, or home title theft. It has been on the uptick in the New England area, and it is devastating because it targets what is, for most people, their most valuable asset: their home.

Here’s how the scam works, and what you can do to avoid it and keep your own home secure.

New England homeowners are suffering big losses

Home title fraud can take different forms, but it often starts with forged documents. Scammers use those documents to show that ownership of a property has changed hands.

Once they appear on paper to be the owner of the home, scammers may sell the property or vacant land, rent out the property, or take out a mortgage on the property and walk away with the funds without making payments. Often, the homeowner is none the wiser about any of this happening if they don’t live in the house full-time.

According to the FBI, scammers — called title pirates — usually look through public records to find property that is not mortgaged or that is vacant. In other situations, people target their own family members since they already know details about the property.

The scammers sometimes involve unsuspecting real estate agents who sell the home without knowing they aren’t dealing with the real owner. Meanwhile, when the real owners eventually find out, they’re forced to go to court to try to recover what’s theirs.

While it may seem far-fetched that someone could steal a property by changing some paperwork, the reality is that this happens far too often — and cases are on the upswing in the New England area. The FBI’s recent warning to homeowners provided details on just how often home title fraud is happening, and the numbers are shocking.

Between 2019 and 2023, for example:

• 262 Maine victims lost $6,253,008 to home title fraud.
• 1,675 Massachusetts victims lost $46,269,818.
• 239 New Hampshire victims lost $4,144,467.
• 224 Rhode Island victims lost $4,852,220.

Nationwide, during this same period, there were a total of 58,141 victims that reported $1.3 billion in losses. And, things may be even worse than they seem, as not every victim reports it or even realizes they’ve been scammed.

And, it’s not just homeowners who suffer from these crimes.

If a defrauded buyer purchases a property that an illegitimate owner sold, they don’t get to keep the house once the issue is discovered — and they may never recover their funds from the scammer who sold the property to them.

Read more: Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don’t have to deal with tenants or fix freezers. Here’s how

How to protect yourself from quitclaim deed fraud

The FBI has some tips for owners and realtors to try to avoid this type of fraud and protect their assets. Specifically, homeowners should:

• Monitor online property records to make sure no changes to the deed occur.
• Sign up for title alerts with your county clerk’s office, if they’re offered.
• Regularly drive by properties you own but don’t living in, or hire a managing company to do the same
• Ask neighbors living near vacant land or property to notify you if they notice suspicious activity
• If you stop getting utility bills, contact the providers and find out why

Meanwhile, real estate professionals are advised to do in-person identity checks, and request copies of documents only the true homeowner would have (like original surveys) and send a certified letter to the address of record on the tax bill when buying or selling properties. Agents should also call to verify if a public notary actually signed documents and they should avoid remote closings when possible.

By following these best practices, you can help avoid becoming one of the thousands of victims of quitclaim deed fraud who end up suffering huge losses — and dealing with a ton of financial stress and hassle in trying to recover them.

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?
• Do you rely on your monthly Social Security check to get by? Here are 5 simple money moves for American seniors during Trump’s presidency

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

Grocery shoppers have been forced to scramble since egg prices have been consistently high.

With the cost of Grade A eggs hitting a record high of $5.90 per dozen in February, many consumers have had eggs on their faces. This was the highest price consumers had ever paid for eggs, nearly double what they had paid the previous year.

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Some relief may finally be on the way, as the wholesale egg prices have started to fall.

However, Easter and a lag between the changes in wholesale and consumer prices may mean that relief doesn’t come immediately for frustrated grocery shoppers, many of whom have struggled with high food inflation since the pandemic.

Here’s why egg prices are finally falling

Egg prices peaked due to a deadly outbreak of bird flu that spread across the United States, resulting in the death of millions of egg-laying chickens. Major producers may also have engaged in alleged anti-competitive behavior to drive prices up, prompting an antitrust investigation by the Department of Justice in March.

The good news is that outbreaks of bird flu appear to be becoming less frequent. Additionally, high prices have weakened consumer demand, with many people choosing to forgo purchasing eggs due to record costs. Some buyers, fearing further price increases from continued bird flu outbreaks, also stockpiled eggs, reducing future demand further. With higher supply and lower demand, prices have begun to drop.

“Slowing outbreaks are leading to improved supply availability and wholesale market prices have responded with sharp declines over the past week,” the USDA wrote.

The drop in wholesale egg prices has been significant, with the cost per dozen dropping 44% from its mid-February peak. Wholesale prices are now $4.83 per dozen instead of $8.58 per dozen, according to Expana, which tracks agricultural commodity prices.

Karyn Rispoli, an egg market analyst and managing editor at Expana, told CNBC via email that prices had plunged due to market dynamics placing "extreme pressure" on the cost per dozen.

The Trump Administration also initiated a plan to help lower prices, including investing $500 million in biosecurity improvements, providing more indemnity payments to farmers, reducing regulations and importing more eggs to increase supply.

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Consumers may not see lower prices just yet

While the reduced wholesale cost is good news, it doesn’t mean consumers will enjoy cheaper eggs just yet.

Rispoli explained that there’s typically a two to three-week lag between a change in wholesale prices and a decline in retail prices. Retailers also don’t always adjust their prices immediately to match wholesale fluctuations, meaning consumers may still feel the effects of peak prices when they shop for eggs.

Consumers have seen some relief. U.S. Secretary of Agriculture Brooke Rollins stated, "The average cost of a dozen eggs has now gone down $1.85 since we announced our plan."

However, this trend of reducing prices is not likely to last in the short term. Prices are expected to rise again with Easter, which traditionally increases demand for eggs. Easter season typically leads to increased egg demand for traditional activities like Easter egg dyeing, as well as hard-boiled eggs, which are a staple for many Easter meals.

Hopefully, once Easter comes to pass, the Trump Administration’s efforts and the declining number of bird flu outbreaks will lead to more lasting price reductions, allowing consumers to put eggs in their grocery baskets without fear of cracking their budgets.

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?
• Do you rely on your monthly Social Security check to get by? Here are 5 simple money moves for American seniors during Trump’s presidency

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

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.