Author: Christy Bieber

Massachusetts residents might recognize Natalie Logan. She’s had her picture taken — a lot — by the state’s lottery commission while posing with a big smile and even bigger winner’s check.

But it’s not because Logan embodies Lady Luck herself — she’s an attorney who helps lottery winners stay anonymous.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

“When somebody calls me and says, ‘I won the lottery! What do I do?’ I’m, like, ‘Yes!’ This is my bread and butter,” she told WCVB Channel 5 Boston in a story published May 21. “It’s pretty funny.”

Logan has built a thriving business guiding lottery winners on how to best protect their prize money.

Her services extend beyond just picking up the prize, though. She also has some other helpful advice that every winner should heed.

Helping lottery winners to stay anonymous

Logan’s services are necessary for her clients to keep their identities secret. The lottery commission states prizes over $103,000 must be claimed from their headquarters in Dorchester. According to Channel 5, the process requires a lot of paperwork and taking a photo, which may be displayed on the Mass Lottery website.

Massachusetts is far from the only state that has rules about identifying winners. In fact, only a few states allow winners to remain anonymous, while the rest have various rules in place that require winners to disclose at least some of their details.

Logan helps clients get around these rules by forming a trust to claim their prize, protecting their personal details. This is permissible in some other states as well.

“The legal trustee — your lawyer — goes and collects the prize, and the underlying beneficiary remains anonymous,” Logan explained.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

The trust can be named anything you want and it will be written on one of those big novelty checks she gets to hold — which, unfortunately, she says you don’t actually get to keep.

“I don’t walk out with that humungous check," Logan said. “It’s actually just a regular-size check, regardless of the amount. And then I go straight to the bank.”

Tips for lottery winners to protect themselves

Logan’s services are important because staying anonymous can protect winners from scammers, criminals and even friends, family and acquaintances who may pressure them into sharing their prize.

“I think no matter the amount, tell as little people as possible,” Logan advised. “I’m sure it’s very challenging to do that, but only tell those that you would trust with your life.”

Logan also has other tips for winners, including:

• Sign the back of the ticket right away after your win so no one else can claim it
• Create a team to help you, including a lawyer, a certified accountant and a financial advisor who can assist with making informed choices with your new wealth
• Avoid hiring anyone who charges you a percentage of what you won for their services instead of a flat fee

By following these tips — and potentially having a lawyer help you create a trust to claim your prize — you can maximize the chances that a lottery win will improve your life, instead of turning into a stressful time. Assembling a good financial team to help you plan around your sudden wealth can also help ensure it lasts.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

Unused sick leave could be your secret weapon for an easier transition into retirement.

Depending on your employer’s rules, it might boost your pension, bolster your wallet or ease you into part-time work. Around 77% of workers have access to paid sick leave, according to the Bureau of Labor Statistics. Paid vacations are available to 79% of workers, while 81% have access to paid holidays.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

If you are lucky enough to have paid sick leave, you may be able to accumulate it depending on your employer’s policies. For example, some companies — especially in the public sector — allow you to bank your sick leave rather than following a “use it or lose it” policy each year.

If that’s the case, when you eventually leave your job, you may be for a payout for your unused sick leave or receive credit for it when your pension is calculated.

For some workers, taking a payout or increasing a pension benefit makes good sense. For others, using accumulated sick leave to ease the transition into retirement may be more appealing. If you’ve banked a substantial balance, you might consider asking your boss if you can use some of it each week to shift into part-time work.

This approach allows you to gradually wind down your workload, tie up loose ends and ease into retirement while adjusting to a slower pace of life. However, not all employers allow this, and it may not be the best option for everyone. Here’s what you need to know.

How to maximize sick leave and transition into retirement

As a general rule, sick leave is meant to be used when you’re sick. Unless your company offers a blanket Paid Time Off (PTO) policy — allowing you to use your time off for any reason — you typically can’t use sick leave for vacation or retirement planning. Doing so would be considered a misuse of benefits.

If you’re working toward a specific number of service years to qualify for a pension, unpaid sick leave generally cannot be counted as extra service time. For example, if you need 30 years of service to qualify for full retirement but have 29.5 years and six months of unused sick leave, that leave won’t count toward your required service time.

However, if you have medical appointments — such as a knee or hip replacement — you might consider using your sick leave while still covered by your employer’s health insurance. This can make good sense, allowing you to preserve your early retirement days for other priorities.

It’s important to understand your company’s rules before taking extended sick leave, as misusing it could jeopardize your employment or create issues as you approach retirement. If you’re interested in part-time work as a bridge to retirement, your employer may be open to the idea — but sick leave typically won’t be the tool to make it happen unless your company is willing to bend the rules.

A better strategy is to save up PTO or vacation time, if available, and use it to reduce your work schedule. By timing vacations around weekends and holidays, you can stretch your time off and create a gradual transition into retirement.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Bridging the gap until retirement

If you’re not quite ready to stop working, there are lots of ways to ease into retirement without relying on sick leave — and lots of ways to support yourself financially during this period.

One option is claiming Social Security while working part-time, allowing you to supplement your income while reducing your work hours. However, if you haven’t yet reached full retirement age (FRA), earning too much could temporarily reduce your Social Security benefits. These benefits will be recalculated at FRA to account for any deductions.

You might also consider consulting work or a low-stress side gig to earn extra income during your transition. Various apps and platforms make it easy to find flexible opportunities, from dog walking to rideshare driving, depending on what might be a good fit for you.

Regardless of your approach, ensure you have enough money in your retirement accounts to cover about 40% of your pre-retirement income, as Social Security typically covers the other 40%.

Creating a detailed budget and wisely earmarking every dollar will help ensure that your retirement income stretches far enough. By planning strategically, you can transition smoothly into retirement while maintaining financial stability — without relying solely on sick leave.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

A 92-year-old man from Sun City Center, Florida, is out $800,000 after getting caught up in a romance and bank scam allegedly coordinated by a 37-year-old man who is now behind bars.

"This was an individual who was lonely," Amanda Granit, a spokesperson for the Hillsborough County Sheriff’s Office, said of the victim to Fox 13 Tampa Bay in a story published May 2. "[He] didn’t have family or friends in the area. He was in a facility, and he was looking for connection. And unfortunately, he found it in the wrong place."

Otiz Swinton Jr. was arrested in Orlando on April 30 and has been charged with multiple counts of fraud. This isn’t the first time he’s been linked to a criminal case involving seniors.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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’s what happened, and what you can do to avoid becoming a victim of a romance scam.

Senior citizens targeted

Swinton Jr. was already serving a prison sentence when he initiated contact with his victim, police say.

"Seven years ago, he was convicted of stealing more than $1 million from more than 50 people in Sun City Center," Granit said.

According to Fox 13, police say that offense involved the scammer telling seniors they had fraudulent charges on their credit cards and needed to mail the cards to him to resolve the problem.

In this latest incident, police say the victim transferred money from his Fidelity account into his Wells Fargo account. The funds were allegedly withdrawn to multiple individuals via a cryptocurrency platform, peer-to-peer transactions, ATM withdrawals and other methods.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

From March 13 to April 2, five counterfeit checks were allegedly made payable to Swinton Jr. from the victim’s bank account, totaling $14,300, while over $5,000 in charges were made on the victim’s card. Fox 13 reports the suspect had just been released from jail at the time.

Police say the victim was targeted as early as June 2022.

How to protect against romance scams

Romance scams are incredibly common. As of March 31, the Federal Trade Commission (FTC) had received 13,768 reports of romance scams in 2025, with losses totaling $280 million.

The good news is, there are ways to avoid them. The number one way to not fall victim is to simply not send money, gift cards, crypto or anything else of value to someone you haven’t met in person.

The FTC also advises those making new friends online not believe promises anyone makes about helping you make money. One should also be suspicious if a person refuses to meet, and do a reverse image search of any pictures you receive to ensure they’re legitimate. It’s a good idea as well to tell a trusted friend about your interactions so you can get their opinion about whether things are above board.

In this particular case, the victim was 92 and in an assisted living facility. Seniors living in isolation or experiencing cognitive decline can be ripe targets for scammers. That’s why it’s important for loved ones of people who are aging to stay on top of things and make sure they’re safe, and, if necessary, pursue guardianship and take over management of their assets if it appears they could be vulnerable to scammers.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

When Tony Brown got a call in late November from someone named "Emily" who said they worked for a company called Moneypark Finance, he thought his prayers had been answered. According to News 5 Cleveland, Tony and his wife, Christina, had been seeking a personal loan to furnish their new home and buy Christmas gifts for their kids. Emily just happened to offer them the chance to borrow $8,000.

But the Elyria, Ohio, couple ended up walking straight into a nightmare that continues to haunt them. An investigation by the local broadcaster found no evidence that Moneypark Finance existed, and the couple had been swindled for thousands of dollars in a check scam.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

"It’s depressing because we really haven’t been able to get caught back up on everything," Christina told News 5 in a story published April 17.

Now, the couple wants to warn others. Here’s how the scam worked, along with some tips on how to avoid a similar situation.

How a scam cost the Browns thousands

The Browns say Emily told them they could borrow funds, but there was a catch. Because the couple had poor credit, she said they’d have to print the loan checks themselves, which were sent by email. The couple was instructed to buy blank check paper and print them out.

Next, the Browns say they were told to deposit the checks into their account at different Fifth Third Bank locations. Afterward, they were to buy gift cards and forward the codes on those card. The instructions left them scrambling.

"I’m getting off work and I’m running around Lorain County trying to get these checks done and deposited, and then have to turn right back around and go buy gift cards,” Christina explained.

She began to get upset, and Tony acknowledged the situation was a little odd

"When the bank accepted my first one, I was like this might be cool," he said. "I didn’t know she was going to make me do it again and again."

The couple got fed up and spoke directly with their bank. Now, Tony says, his bank account has been locked and he has to pay thousands of dollars for the fake checks.

"I’m having to work more shifts at work to be able to get caught up and [Tony is] doing a lot as well," Christina said.

"I feel like an idiot," Tony said.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

How to avoid scams and keep your funds safe

Unfortunately, banks don’t usually refund money if you are a victim of a check scam. Fake check scams take many forms, from promises of a phony loan to being hired for a fake job to being "overpaid" for something you sell.

What many have in common is that you’re given a bad check to cash and told you must buy and provide gift cards in exchange. Since banks often make deposited funds available quickly, you may think the money is safely in your account — but it’s not.

To avoid a similar scam, you should always research a company carefully before you agree to any financial transactions. In this case, News 5 tried to track down Moneypark Finance but couldn’t track down a representative after calling several numbers linked to the company. Journalists even traveled to Houston, Texas, to visit the address listed on the company’s website — but it didn’t exist. There was a hotel standing where the address would have been, with no sign of a Moneypark Finance inside.

Be wary if any business asks for anything other than a conventional means of payment.

"Anybody telling you to print checks, anybody telling you to buy gift cards … if they have a special payment method in mind, it’s probably a special case of being scammed," Ryan Lippe, Consumer Educator with the Ohio Attorney General’s Office, told News 5.

Lastly, avoid doing business with any company that pressures you to act quickly or calls you out of the blue. If you get a phone call from a company asking for money or financial information, the best thing to do is just hang up.

Scammers "want you to act fast," Lippe said. "They want you to think flat-footed. They don’t want you to be thinking with a rational mind."

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

Commercial landlords in many parts of San Francisco have to make sure their properties are leased — and not just because they miss out on rent if they don’t. In many areas within the city, there’s a Commercial Vacancy Tax for empty storefronts.

The tax was passed by voters in 2020 and paused during the pandemic, but the California city resumed collection in 2022. The purpose was to fill commercial spaces and ensure landlords weren’t being greedy at the expense of neighborhoods and small business entrepreneurs.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

"The entire idea of the tax wasn’t to tax people, it was to encourage them to get realistic about their expectations of rent for small businesses," former city official Aaron Peskin told ABC7 News Bay Area in a story published May 30.

It’s had some success, too. Here’s how the tax works, along with some details on how tax funds are being used.

Vacancies are down in some neighborhoods

The tax imposes a significant penalty on landlords who own commercial spaces that are vacant, and it grows the longer a unit sits empty.

If a property goes unrented for 182 days, the landlord is taxed at a rate of $250 times the width of the storefront in feet. So, a 30-foot-wide front would be subject to a tax equal to $250 times 30, or $7,500. The tax doubles after the second year a property remains vacant, and doubles once again after that.

Obviously, many landlords don’t want to pay that much, but there’s an easy out.

"It’s the most avoidable tax there is," Earl Shaddix of Economic Development on Third told ABC7 News. "You don’t have to get taxed, just rent your damn storefront."

Many landlords have done just that, and vacancy rates have been falling in a number of neighborhoods, according to the broadcaster. In North Beach, for example, there was a 10% vacancy rate in 2020 before the tax was passed.

"It’s half of that now. The same is true for neighborhood commercial districts all over the city," Peskin said.

Haight-Ashbury small business owner Christin Evans touted the success of the tax in the area.

"At our peak, we were at 32 out of 150 were closed. Now, we’re below 14," Evans explained to ABC7 News.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

One prime area of the city that’s in decline and hasn’t seen a revitalization from the tax is downtown — but that’s because it was excluded from the tax altogether.

"It may be time to consider a downtown commercial vacancy tax, but at the time, five years ago, this was really aimed at neighborhood commercial districts at a time when downtown was thriving," Peskin said.

San Francisco’s Office of the Treasurer and Tax Collector says it has collected $5 million in revenue from the vacancy tax, reports ABC7 News. The money goes into a fund used to help small businesses.

Do commercial vacancy taxes work?

San Francisco is not the only city that has put a vacancy tax in place. Oakland and Washington D.C. both have a tax for vacant residential and commercial properties. Boston officials discussed a storefront vacancy tax in November 2024.

Data reflecting the effective these taxes is scarce. However, research from the Joint Centers for Housing Studies of Harvard University suggests landlords in dense urban areas are reluctant to rent at lower rates in the near-term in case they’re able to lease at a more favorable rate down the line.

The researchers also concluded that while vacancy taxes may reduce the number of vacancies, they could result in "lower tenant quality and lead to faster churn." So, while spaces may be filled temporarily, the taxes may not improve neighborhood quality much over the long run.

As for San Francisco, in the case of at least one business owner filling a once-vacant storefront, she told ABC7 News that grants and support from local groups prompted her to give things a try. So, if nothing else, the tax collected from the landlords who leave properties vacant, along with a supportive business community, may provide more opportunities for people to take a chance at getting a company off the ground.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

You only get one life, and accordingly you only get one shot at preparing for a comfortable, rewarding retirement.

Every step leading up to the end of your working life is important, but the closer you get to retirement the more critical your decisions are — and the more costly are your mistakes.

Ufortunately, some retirees end up making unforced errors.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

If you want your golden years to be golden indeed, avoid these mistakes that haunt many older Americans.

1. Maintaining risky asset allocation

Where you put your money during your golden years can have a big impact on your financial health.

Close to half of all Vanguard 401(k) investors aged 55 and up actively managing their money had more than 70% of their portfolio in stocks, The Wall Street Journal reported in 2023. For those aged 85 and up, one-fifth with taxable Vanguard brokerage accounts had almost all their money in the market, as did nearly a quarter of investors between ages 75 and 84.

The Journal also cited similarly troubling Fidelity data, which showed close to 40% of investors between the ages of 65 and 69 holding at least two-thirds of their portfolio in stocks.

While it’s good to have some money in the market, having too much can be asking for trouble. If you’re heavily invested in stocks and find yourself in need of cash or are taking regular withdrawals to comply with [required minimum distribution rules](https://moneywise.com/retirement/required-minimum-distributions, you may find yourself forced to take money out at a bad time.

This could lead to big losses on your investments when you’re unable to wait for a market recovery after a crash. Being forced to sell low could deplete your savings quickly.

To avoid this issue, make sure your money is allocated appropriately. A common formula is to subtract your age from 110 to calculate the percentage of assets that belong in equities. You can also talk with a financial adviser about the asset allocation that works best for you given your account balance, age and future goals.

The important thing is to avoid just sticking with the status quo and to ensure you aren’t taking on too much risk out of habit or lack of knowledge about where your funds belong.

2. Forgetting about emergency savings

Many folks assume they don’t have to save anymore once they’re retired. Sadly, this couldn’t be further from the truth.

An estimated 13% of households aged 55 and up wouldn’t be able to cover an unexpected $400 expense, according to research conducted by the JP Morgan Chase Institute, and that figure jumps to 37% for a $1,600 expense. Both figures are higher than those for young (18-34) and middle-age (35-54) households.

Some older Americans assume that since they no longer need to worry about a job loss, they don’t need emergency savings. On the contrary, surprise expenses can happen to anyone at any time, and without money to pay for them, retirees could be forced to withdraw too much from investment accounts or rely on debt.

It’s important to maintain an emergency fund for these situations. If you sock away a few months’ worth of expenses in a high-yield savings account, you can earn a little bit of money while it sits there.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

3. Claiming Social Security at the wrong time

Social Security mistakes are another costly fumble retirees can make — and this error is a big one. According to Forbes, citing research published by United Income in 2019, households missed out on $111,000 in potential Social Security retirement income on average because they claimed benefits at the wrong time. In addition, only 4% of retirees claimed benefits at the most financially opportune time.

Everybody’s situation is unique, and your optimal claiming strategy might be different from others — even your spouse. One of the problems is that many older Americans get benefits too early. Checks become available as young as age 62, but continue to grow if you delay claiming up until age 70.

A retiree who starts receiving checks at 62 will see their benefit shrink by as much as 30% from the amount they would get at full retirement age — 66 or 67 depending on when you were born. Meanwhile, retirees who wait to claim until after full retirement age can increase their benefit by 8% a year until age 70.

But, again, everybody’s financial needs are different. United Income’s study found 57% of retirees at the time would build more wealth if they waited until age 70 to claim retirement benefits, per Forbes, while only 4% had actually done so. Only 6.5% of retirees would have gained more wealth if they received Social Security before age 64, which is when 70% had claimed. The firm did acknowledge, however, that in some cases it’s financially necessary for people to claim benefits early. Speaking with a financial adviser about the best claiming strategy may be wise.

If you haven’t claimed Social Security yet, it’s worth looking into whether you can put it off. However, if you’ve already started receiving retirement benefits and it’s been less than 12 months, you can withdraw your claim but you will have to pay the money back. If you’re getting checks, once you reach full retirement age you can suspend payments up until age 70 to receive delayed retirement credits. Finally, if you decide to work while receiving Social Security, while the checks you get before full retirement age may be reduced or wiped out depending on your earnings, it’s possible to wind up with a higher adjusted benefit in the end.

4. Not planning for health-care costs

Failing to plan appropriately for health-care costs can be a huge bungle.

Fidelity estimates a 65-year-old retiring in 2024 will spend an average of $165,000 on health care and medical expenses in retirement.

Planning for these costs can include having dedicated savings (health savings account and shopping carefully for Medigap or Medicare Advantage Plans for comprehensive coverage. It may also be prudent to look into long-term care insurance.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

Work-from-home jobs can provide valuable income for people who are unable to work a traditional job.

For Mildred Bedar, a Houston resident, her work-at-home position helped her pay the bills, until the company disappeared without sending her a paycheck.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

Bedar said she was hired to inspect shipments from Amazon, repackage them, and send the products to their final destination. She was supposed to be paid $2,900 for her work, with a bonus of $20 for every package that she handled.

What she was ultimately paid, however, was nothing, putting her at serious risk of losing her home. Here’s how she became a victim of a work-from-home scam.

How the work-from-home scam worked

Bedar said she worked for the company that hired her for months, only to have the business vanish before her scheduled payday, leaving her in a bind.

"I’ll be homeless if I don’t get that money," Bedar told Fox 26 Houston. "I’m a 68-year-old woman with her service dog out on the street or her car is not something I would think about."

It’s unlikely that Amazon shipping will come, however, because the Postal Service and the Better Business Bureau believe that Bedar had inadvertently been duped into a "reshipping scam." These scams involve products acquired illegally and are then laundered through multiple shipping steps to hide their origin.

A spokesperson from the Better Business Bureau, Leah Napoliello, explained the scam and the unfortunate fallout for Bedar.

"If she has not been paid and suddenly the business has gone dark — there’s no evidence they’re still operating — and there’s no way to contact them to request payment, then that is very suspicious," Napoliello said.

There’s little Bedar can do to recover the promised paycheck, as the company was not a legitimate one in the first place.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

How to avoid work-from-home scams

While Bedar is unlikely to get her money, others can learn from her experience and avoid work-from-home scams.

Some red flags to watch out for that could suggest a job is not legitimate include:

• A company that expects a lot of work upfront before you get paid
• Pay that seems too good to be true for the expected work
• Companies that ask you to pay upfront to be considered for the job
• A business without a strong online presence, like a LinkedIn page or company website
• Getting hired without an in-person interview process in which you speak to someone via phone or Zoom
• Complaints about the company in online forums or online review sites

If you spot any of these signs, you should move onto opportunities with a more reputable employer who is more likely to pay you.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

Renee Williams was very much alive and living in West Philadelphia when she discovered a serious problem. Her bank accounts, health insurance and retirement benefits had all been cut off.

The reason? She’d been placed in the "Death Master File" maintained by the Social Security Administration.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

Williams has spent more than six months trying to ensure everything is restored and lives in fear she’ll lose it all again due to a clerical error.

"I go to sleep at night and think about if they’re going to cut me off again, not knowing day-to-day what’s going to happen to my benefits," Williams told CBS News Philadelphia.

It’s a reasonable concern. Her benefit payments are still inconsistent, credit and banking issues remain and the whole experience has been “a pain in the behind.” Worse still, she’s not the only American in this situation.

Sadly, such problems may only get worse as the Trump administration culls government jobs and overhauls agencies — with the Social Security Administration (SSA) a top target.

In April, an estimated 2,500 SSA workers accepted buyouts as part of the government’s efforts to eliminate 7,000 jobs in the agency, AARP reports.

How many Americans are wrongfully declared dead?

According to the Social Security Administration, less than 1% of the three million deaths the SSA records annually are incorrect. That works out to about 10,000 people a year whom the SSA deems dead, but who are actually alive. That’s not good.

But Elon Musk has inadvertently made the problem worse. Ironically, that’s because he’s more concerned about benefits going out to people who are dead, claiming rampant fraud.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

That’s one reason he overhauled the Social Security Administration database as part of the Department of Government Efficiency DOGE — to eliminate such errors.

Unfortunately, as the Daily Beast reports, that overhaul is now cutting off benefits to a growing number of people who, like Williams, are alive and well but who are declared dead.

According to ABC News, experts believe Musk may have misread the records by reading the wrong databases.

Rennie Glasgow, a Social Security claims technical analyst who has worked in the Social Security Administration’s Schenectady field office for 15 years, told the Daily Beast that 4 million people have been marked dead on the database as a result of the DOGE overhaul — even though many are alive.

“We have people who did not receive benefits come in every day with their ID and say, ‘I’m not dead, I’m alive!’” he said, noting it can take three to four days to “resurrect” them.

"When they mark someone dead on the Social Security record, it stops their life,” Glasgow said. “It stops their car payments, it stops their credit, it stops their ability to do anything.

Class-action lawsuit in the works

One Philadelphia consumer protection attorney, Jim Francis, is helping these victims fight back.

"These are all people who are going about their normal lives, and all of the sudden, they lose access to all of their benefits, their pension, their medical insurance and they become financially paralyzed," Jim Francis told CBS News.

Francis is representing a Baltimore family in Baltimore that is trying to initiate a class action against Social Security after their relative, Joyce Evans, was improperly reported dead in 2023.

The family claims the mistake caused financial and health problems, leading Joyce Evans to actually die months after the error occurred.

"It’s a really serious problem and in the world of data being misreported, this is almost as bad as it gets, if not the worst,” Francis said.

What to do if you’re wrongfully declared dead

If you have been improperly marked as being deceased, make an appointment with your local Social Security Administration field office as soon as possible.

You’ll need to bring valid ID with you, which can include one of the following documents:

• Passport
• Driver’s license
• Employee ID
• Military record
• School ID
• Marriage, divorce or adoption record
• Health insurance card or medical record
• Life insurance policy
• Court order for name change
• Church membership

The original documents, or copies certified by the issuing agency, must be presented to the Social Security Administration. No photocopies are accepted.

Once Social Security corrects your record, they will provide an “Erroneous Death Case – Third Party Contact" Notice that you can show to banks, doctors and others to get your accounts back and your life restored.

Hopefully, field offices will be responsive in preparing this document, despite staff shortages and a growing number of the ‘undead’ fighting to restore their lives.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

When Cody Bunch was in high school, he created a scrapbook of his dreams and his goals. Moving to Miami Beach was on that list.

"There’s Miami, there’s Miami Beach," Bunch told CBS News, pointing to pictures in his scrapbook. "I live right behind that now."

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

Bunch achieved his dream of living in South Florida in 2021. But just a few short years later, he’s packing up and heading to Atlanta instead. It seems surprising to leave a place he had dreamed of for most of his life, but Bunch has his reasons — and he’s not alone in leaving the Sunshine State.

Here’s why more residents are packing their bags and saying goodbye to South Florida for good.

High prices and limited career opportunities

Although Florida’s population growth surged in recent years, new data shows a shift. In 2023, about 511,00 people left the Sunshine State, while just 637,000 moved in — nearly half the number that arrived the year before. The American Prospect called it "the largest drop in net migration in a decade."

Young people like Bunch are leading the exodus, departing not just from Miami-Dade but from surrounding counties such as Broward and Palm Beach, as well as from other major metro areas like Tampa.

About 25% of those leaving Florida are between the ages of 20 and 29. Those moving in are older, wealthier and affected by the sluggish job market and soaring housing costs, driving Bunch and others away.

"Younger residents, particularly those aged 20-29, are leaving in significant numbers," said the latest migration report from the Florida Chamber of Commerce. "Factors cited include the high cost of housing and perceived limited in-state job opportunities for early-career professionals."

Both of those factors pushed Bunch to give up his dream of life in Miami.

"The salaries don’t add up to the cost of living here," Bunch said. "Overall, the cost of everything is so much more expensive than it was four years ago."

He’s not wrong. While Florida’s unemployment rate in March 2025 was 3.1% — lower than the national average of 4.2% — the quality of job opportunities is another story. The median annual salary in Florida was $52,400 in 2024, compared with the national median of $59,400, according to ADP Pay Insights. Meanwhile, the cost of living in Miami is 19% higher than the national average, according to Payscale.

High housing costs are another major issue. Redfin data shows Miami home prices surged from a median of $390,000 in January 2021 to $632,500 in January 2025. Miami is now ranked the second least affordable metro area for renters. Bunch said he’s moving into a beautiful Atlanta apartment — complete with a coworking space, pool, and city view for $1,500 less than what he’s paying for a Miami studio apartment.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

What to look for when relocating

Bunch is heading for Georgia, a popular destination for ex-Floridians. But before relocating, it’s important to research your destination carefully. Anyone who is considering a move to a new city should look into:

• Housing costs, including the median rent and home prices
• The overall cost of living
• The local job market
• Typical salaries for the area
• The unemployment rate
• The demographics — is the area growing and attracting younger residents, or is it aging?
• Quality-of-life amenities like restaurants, museums, parks and entertainment

Plenty of online resources can help, including the Bureau of Labor Statistics for wages and unemployment data, and Redfin for housing market trends. You can also use job boards to explore employment options and rental sites to gauge how far your money will go.

Finally, consider visiting sites like Reddit and City-Data to connect with current residents and get an unfiltered view of daily life in your potential new hometown.

By doing your homework, you may find a city where dreams become reality — and unlike Bunch, you might just decide to stay and put down roots.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

West Fargo resident Mary Pickarell was thrilled to get a text that appeared to be from Travis Kelce’s mother, Donna — known to cheer on her football star son alongside his superstar girlfriend, Taylor Swift.

The text said Pickarell had won a special Mother’s Day prize: a personal visit from Swift herself and a brand-new pickup truck courtesy of the pop sensation.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

As the local media outlet Valley News Live reports, Pickarell was told all she needed to do to arrange delivery of the pickup was pay a $100 fee via a Walmart gift card, which she promptly did.

Pickarell couldn’t believe her luck. Turns out she shouldn’t have believed it. Neither Swift nor the truck ever arrived.

“I went into tears,” Pickarell said. “No part of me thought it sounded off. I was just anxious to meet Taylor Swift in person.”

Celebrity scams are on the rise

Pickarell discovered she’d been the victim of a cruel scam after calling the Valley News Live team.

They advised her to contact the police. While Pickarell did just that, it was too late to get her $100 back — a concern given that she’s on disability with limited income.

“I want to let everyone know there are scammers out there and they will get older people,” Pickarell advised. “Don’t believe anything unless you talk to your family, friends, police, even the news.”

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Pickarell is one of countless people to lose money to an impersonator. According to the Federal Trade Commission, victims lost $2.95 billion to imposter scams in 2024.

Such scams take different forms, including criminals pretending to be from the government, family members in trouble or celebrities like Swift. The con artists use high-pressure tactics and may even manipulate people’s fear, demanding sensitive information or unusual payment methods — like gift cards, as Pickarall was asked to provide.

In recent years, the rise of AI has led to an increase in celebrity scams.

The AARP reports that criminals have gotten much more sophisticated than just sending fake texts like the one Pickarell received.

They’re now making convincing deep-fake videos appearing as someone famous to get people to part with their funds. Celebrity scam scenarios include:

Romance scams where victims are convinced they’re in a relationship with a celebrity who then begins to ask for money. Merchandise, investment or crypto scams that use fake celebrity endorsements. Fake prizes, like the Taylor Swift pickup truck scam that ensnared Pickarell.

One recent example of how AI has been used in this way involves a woman who paid $160K to a fake Keanu Reeves after she saw a video and, convinced it was the actor, fell for a romance scam.

In May, Michigan Attorney General Dana Nessel issued a warning about such scams.

"While it may be disappointing to hear, you are probably not in a secret, long-distance relationship with Garth Brooks,” she said. “If someone claiming to be Garth or any other famous figure is asking you personally for money, don’t send it. It’s almost certainly a scam.”

How to avoid falling for a fake-celebrity scam

The FTC advises searching for the celebrity’s name and the product or charity they appear to be endorsing online along with the word "scam.”

If you do fall for a scam and send money to a con artist, the FTC advises calling the police and the financial services firm or gift-card company you used for the transaction to report the fraud and request help recovering your funds.

When you report the incident to authorities, you can help with investigations that will help prevent others from being blinded — and blindsided — by star-power scams.

What to read next

• Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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