Author: Jessica Wong

Florida might still be basking in sunshine, but its once-sizzling housing market has simmered down.

The momentum that fueled pricing spikes during the pandemic has taken a sharp turn. For the first time in years, buyers are regaining leverage.

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Sellers, squeezed by skyrocketing insurance premiums, softening demand and growing inventory, are cutting prices, covering closing costs and easing up on contingencies just to seal the deal.

But is this shift a buyer’s paradise? According to real estate experts, the Florida housing story is more complicated than simply buyer-friendly.

Pandemic housing frenzy hits pause

During the COVID-19 era, a wave of remote workers, sun-seeking transplants and looser restrictions turned Florida into ground zero for red-hot real estate. Builders raced to meet demand. Now that demand has cooled.

Then came two hurricanes, a spiraling insurance crisis and record-breaking homeownership costs. Panic-inducing headlines are drawing comparisons to the 2008 crash, but experts urge caution before sounding the alarm.

“It’s nowhere near that,” real estate expert Vincent Arcuri said recently on Full Circle Florida. “Interest rates are at 6.5 %, if you saw interest rates go anywhere in the 5s, you would see the market shift overnight, properties would start to skyrocket again, so it does have a lot to do with how much I’m putting down and how much is my payment? And that’s what really drives the economics of people buying homes.”

Some homeowners who bought at the peak may be feeling the pinch.

“You have people that came from the pandemic that overpaid, now it’s time to pay the fiddler,” Arcuri said. “I think those people that came in and paid $50,000, $100,000 over market, they’re seeing a reduction now in value, plus they overpaid when they bought, which is offsetting some of the equity in those homes.”

So are the issues local or regional? According to Arcuri, Florida’s housing market isn’t uniform.

Inventory is rising in parts of Florida like Tampa Bay, St. Petersburg and Clearwater, but much of that is due to condos, not single-family homes. The surge is being driven by region-specific factors: new milestone inspection rules, skyrocketing HOA fees and soaring insurance premiums — all of which are dragging down condo sales.

While headline numbers may suggest a broad market slowdown, many statistics are skewed by the flood of condo listings. The situation is more regional than statewide.

Recent hurricanes have only added pressure, particularly on older and coastal condo communities, while inland areas and single-family markets remain more resilient.

So, when will the market bounce back? That largely depends on policy. And as Arcuri puts it, “Until we have significant insurance reform.”

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What does it mean for buyers and sellers?

As homes spend more time on the market — especially in places like Tampa Bay and South Florida — buyers are seeing the return of perks not seen since before the pandemic.

But that doesn’t mean today’s buyers have it easy. While home prices may be stabilizing, hidden costs loom:

Florida now has the highest average home insurance premiums in the U.S., with some regions seeing rates above $11,000.

Condo owners in coastal cities are facing 15% plus hikes in HOA fees due to mandatory inspections and storm upgrades.

Mortgage rates remain high, hovering around 6.5%, making monthly payments a real hurdle. Many first-time buyers are already stretched thin by student loans and rising living costs.

Sellers, meanwhile, must adjust to a slower market. Price cuts and concessions are increasingly common, especially for condos facing the brunt of the state’s insurance and structural safety challenges.

So, what should sellers be thinking about? First, price your home realistically. Overpricing means your listing will sit. Consider offering incentives, like covering closing costs, to stand out. Know your costs. High insurance and maintenance fees can make your home harder to sell, so be upfront and ready to discuss those with potential buyers. Most experts agree — this isn’t 2008. Homeowners today typically have equity and more responsible loans. Still, without insurance reform, expect a choppy market.

For now, buyers should do their homework and negotiate hard. Sellers should stay realistic and flexible. Arcuri suggests homeowners just stay put.

“If you’ve got a low interest rate, be patient,” he said. “These markets are cyclical. I’ve seen this happen time and time again. Florida’s fundamentals are still strong. Give it a couple of years, and we’ll be talking about the next housing boom.”

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

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

An unexpected sales pitch paved the way to a terrifying ordeal for one gas station owner.

According to Lisa Hoang of Moore, Oklahoma, she allegedly fell victim to an attempted extortion by a rogue paving crew. The confrontation happened when workers from Done Right Paving, based in Kalispell, Montana, allegedly dumped their extra asphalt across the OK Stop parking lot.

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No formal contract between Done Right and OK Stop was drafted, so the work wasn’t approved, Hoang told News 4 KFOR.

“We need to know in advance how much [the cost] is, and he says [s] he just [has] a little left over asphalt and it wouldn’t cost much to us,” Hoang explained.

Hoang and her family refused to pay the $12,000 bill. As a result, the Done Right Paving crew scraped up the asphalt and piled it against the OK Stop entrance, trapping the family inside.

The scam is not uncommon in Oklahoma, and typically happens when northern paving companies travel south for work. But here’s how to avoid being caught in a similar sticky situation.

‘We were so scared’

Unfortunately, similar asphalt scams have been reported across Oklahoma in recent years.

Larry Patrick, Executive Director of the Oklahoma Asphalt Paving Association, which represents 95% of the legitimate paving companies in the state, says it happens every few years. “These individuals will come in, go to an asphalt plant, and they’ll buy a dump truck load of asphalt and they’ll pay cash,” Patrick said. “Then they just go out roaming around trying to find an individual or somebody.”

The perpetrators are often out-of-state companies, many from northern states where paving work is limited by colder weather during spring.

What seemed like a casual offer for the Hoangs quickly escalated into a high-pressure situation, as the workers began laying asphalt before any price or contract was discussed.

“When he realized we won’t pay, he rushed out the door, used the equipment to scrape the whole parking lot back and forth, a big chunk,” she said. “They pushed it up against the front door, trapping our family inside the business.”

“It happened so fast, we couldn’t do anything,” Hoang added. “We were so scared.”

News 4 made multiple attempts to contact Done Right Paving for comment, to little avail.

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What to do if you’re targeted by a fraudulent contractor

Consumer protection experts urge residents to know their rights and take action when facing fraudulent or threatening service providers. Incidents like the one that Hoang experienced are scary, and they may also violate federal and state consumer protection laws.

The Oklahoma Attorney General has a Consumer Protection Unit that investigates cases involving unauthorized services, deceptive business practices and aggressive or threatening behavior by contractors.

To protect yourself, here’s what you need to do if you find yourself in a similar situation:

• Document everything: Take photos and video of the damage, the workers, their vehicles and any obstructions or results of threatening behavior. Save all communication, including texts, voicemails, emails, invoices or handwritten notes from the business.
• Refuse unsolicited work: Refusing any work would be legally supported in many cases. The Federal Trade Commission (FTC) makes it clear under its Unordered Merchandise Rule that consumers are not required to pay for unwanted goods or services.
• Call the police: If you’re being harassed for payment after any unauthorized work, contact your local police department and file a report.

In Oklahoma, victims can file a complaint directly with the Consumer Protection Unit. Nationally, consumers can report scams to the Federal Trade Commission (FTC), or through the Better Business Bureau’s Scam Tracker tool. The National Association of Attorneys General also provides an online resource to find and contact your state’s consumer protection office.

How can you avoid these scams in the first place?

Common warning signs include unsolicited visits, unwillingness to provide a written estimate, out-of-state license plates, cash-only demands and intimidation tactics.

Experts recommend that consumers never allow work to begin without a written contract. The agreement should include the business name, physical address, the contractor’s license number (if applicable), an itemized invoice and payment terms. It’s also advised that you check the company’s track record through the Better Business Bureau or a state contractor licensing board.

Lisa Hoang’s story is not unique, but through sharing her experience, she hopes others will be able to protect themselves. Being proactive and informed is your best defense against fraud. Additionally, knowing your rights, acting quickly and reporting suspicious activity can help stop scammers before they do serious harm.

For the Hoangs, they’re looking into their legal options against Done Right Paving of Montana.

“We will press charges and hopefully the police can get those guys arrested,” Hoang said.

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

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

He billed himself as Boston’s ADU expert — a contractor helping homeowners cash in on backyard rentals and basement conversions known as accessory dwelling units.

But now, Derek Thomas of Incremental Developers is facing serious questions from clients and subcontractors who say he left them unpaid and projects unfinished, according to a report by NBC10 Boston News.

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Among them are Calvin and Vanessa Sangster, a husband and wife electrician team who say they’re still chasing payment for work they did on a Salem property flip.

The kicker? This was a side project they claim pulled focus and funding from the taxpayer-backed ADU jobs that were supposed to be getting done.

Clients claim projects were abandoned, funds misused

According to Calvin Sangster, the trouble started when Thomas shifted focus from his affordable housing work to a personal real estate flip.

“The turning point was a house in Salem that [Thomas] purchased,” he told NBC10.

Records show Thomas bought the property in 2023 for $520,000, using a hard money loan, a high-interest financing tool often used in fast-paced, high-risk property flips.

But what was supposed to be a quick investment project turned into what the Sangsters describe as a full-scale overhaul, eating up time, labor and resources.

“It was very extensive,” Vanessa Sangster said. “It had all new wiring, new electrical panels and new service. Everything inside the property is new. It was extreme.”

The Sangsters say they spent weeks commuting from Rhode Island to work on the house, but as that project escalated, other client-funded jobs sat idle.

“It was like we were told to forget about all the other jobs we had going on and just come to [the property in Salem] every day,” Calvin added. “The other projects paused, absolutely.”

Among the stalled jobs were ADU projects for three Boston-area homeowners, in Brighton, Jamaica Plain and Dorchester, all of whom eventually fired Thomas and filed complaints, reported NBC10.

And that’s not the only legal trouble. A Swampscott homeowner told NBC10 reporters that they paid more than $40,000 for an ADU that was never built, and now holds a lien on the Salem property, alleging Thomas diverted their project funds into the flip, a claim he flatly denies.

A Lynn District Court judge recently ordered Thomas to turn over financial records tied to the Salem property and detail how many ADU jobs he’s completed. The court action adds to a growing list of red flags for the contractor who, according to NBC10, still promotes himself as a success story in the ADU space.

Through a statement to the news channel from his attorney, John Entner, Thomas denied any wrongdoing.

“As a general matter, my client categorically denies any wrongdoing regarding the City of Boston, the homeowners featured in the NBC10 report, or any other cities, homeowners or subcontractors,” Entner wrote. “The contracts and legal relationship between all of the parties have been clear from the start, and my client has acted well within its contractual obligations and rights at all times.”

Thomas also pushed back on accusations that he owes the Sangsters about $6,000 for their work on the Salem flip, saying all invoices have been paid.

A spokesperson for the city’s Inspectional Services Department confirmed to NBC10 that Thomas is no longer eligible for city-backed ADU projects that involve taxpayer funds.

Meanwhile, the news channel also reports that complaints from homeowners have been filed with the Massachusetts Attorney General’s Office and the Office of Consumer Affairs and Business Regulation. Depending on the outcomes, Thomas could face fines or other penalties.

“He’s gonna get what’s coming to him,” said Calvin.

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What to do before hiring a contractor

Thinking about tackling a home renovation? It can be a great way to boost your property value or finally get that dream kitchen, but if you’re not careful, it can also become a money pit.

From shady contractors to surprise costs, there’s a lot that can go sideways. That’s why planning smart from the start isn’t just good advice, it’s financial self-defense.

Vet your contractor

Before you commit, take time to verify their credentials. Don’t just ask if they’re licensed, actually check with your state’s licensing board. Most states, including Massachusetts, have quick online tools to confirm whether someone’s legit.

Ask for proof of insurance and workers’ compensation

Confirm a contractor has both so that you’re not on the hook if something goes wrong. And if they’re bonded? Even better. That bond could be your backup plan if the contractor walks away mid-project or doesn’t follow through.

Get everything in writing

A real contract should spell out the scope of the work, a clear payment schedule and any warranty coverage. Watch out for blank spaces or vague language. If it’s not in the contract, it doesn’t count.

Never pay 100% up front

Keep your initial deposit to between 10% and 30%, and schedule the rest of the payments around milestones, like demo, framing or final inspection. Hold onto that last payment until the job is done and you’re satisfied.

Keep a paper trail

Save every invoice, contract and email. You’ll be glad you did if you ever need to challenge a charge or settle a dispute.

Don’t forget the hidden costs

Even the best-planned renovations can uncover problems behind the walls, like water damage or outdated wiring. Set aside 10% to 20% of your budget as a cushion. That emergency fund could be the difference between a hiccup and a full-blown financial headache.

Talk early and often

Set clear expectations with your contractor, check in regularly and speak up the moment something feels off. Good communication early can help prevent bigger issues down the road.

With the right prep and a few savvy strategies, your renovation doesn’t have to be a gamble, it can be a smart investment in your home and your future.

As for the Sangsters, the experience has taken both a financial and emotional toll.

“I feel disappointed and a bit angry,” said Vanessa.

“You expect to get what’s due to you at the end of a project and [Thomas] jeopardized that not just for me but my family as well. I think he definitely needs to be held responsible for his actions.”

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

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

Rena Scott doesn’t think twice when it comes to shopping on the infamously cheap site Temu. In fact, she usually has 10 to 12 orders going at a time.

“Everything here has come in from overseas anyway, so you’re just cutting out the middleman, like the Walmarts, the Amazons,” the retired registered nurse from Virginia tells CNN.

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But when the Trump administration slapped a 145% tariff on Chinese imports — and a 10% minimum tax on goods from all other countries — “cheap” became a relative label. Temu and Shein raised prices on a lot of their most popular products just ahead of the May 2 tariff deadline.

“I can’t afford to buy from Temu now, and I already couldn’t afford to buy in this country,” Scott said in late April.

Two weeks later, the Trump administration and Chinese leaders agreed to temporarily slash most tariffs while they try to work out a new deal. The U.S. lowered tariffs on most Chinese goods from 145% to 30%, while China cut its tariff on U.S. goods from 125% to 10%.

Yet the reduced rates are still severe — and if a deal isn’t settled by mid August and sky-high tariffs return, Americans who are already buying the cheapest goods available may have no way to avoid the pain.

Crackdown hits low-income shoppers hardest

Rena Scott lives alone in Virginia, surviving on disability checks after a transplant ended her nursing career.

She maintains a frugal lifestyle and hasn’t eaten fast food in a year, drives a 2005 car and keeps her thermostat at 85 degrees to trim the power bill. A savvy bargain hunter, Scott buys in bulk, once ordering 53 packs of yarn she liked.

But prices are climbing fast. “Not sustainable,” she said, pointing out a cabinet she bought for $56 that increased in price to over $80.

Temu and Shein had been skirting import duties using the longstanding “de minimis” rule, which let sub-$800 packages enter the U.S. tariff-free. That loophole was closed on May 2 and replaced with a 120% tax, though the Trump administration reduced it to 54% midway through the month.

Researchers at UCLA and Yale warn the impact will fall hardest on low-income Americans. Nearly half of all de minimis packages went to the poorest ZIP codes.

In Rochester, N.Y., consumer rights writer Phillip Dampier is stockpiling goods before prices go up any further.

“Basically anything you might find in a JCPenney,” he told CNN, explaining that he spent eight hours daily shopping on Temu, Shein, TaoBao and AliExpress over the course of two weeks.

“I have a feeling that this economy is about to go into the tank, and we’re going to have shortages that [rival] the pandemic.”

Dampier was once loyal to Amazon but said post-pandemic price hikes and poor service pushed him away. His first Temu buy in 2023 quickly became a habit.

Low-cost Chinese imports ballooned from $5.3 billion in 2018 to $66 billion in 2023. The Trump administration argues tariffs protect U.S. businesses and boost domestic jobs, but shoppers like Dampier don’t buy it.

“The entire idea of tariffs is idiotic, in my opinion,” he said. “The Trump administration is trying to bully everybody, and it’s wrong, and the tariff policy is wrong.”

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Nowhere to go but up

The National Retail Federation estimated in November that tariff-related changes could slash Americans’ spending power by $46 billion to $78 billion a year.

It based its estimates on two scenarios: a 10% tariff on imports from all foreign countries with an additional 60% tax on China, or a 20% universal tariff with an extra 100% tax on China.

Depending on how negotiations go, that could lead to huge price hikes for a range of items:

• Clothes: 12% to 20%
• Shoes: 18% to 28%
• Appliances: 19% to 31%
• Toys: 36% to 55%

That would make an $80 pair of jeans cost up to $16 more, a $650 refrigerator cost up to $200 more, and a $17 plush toy cost up to $10 more.

Be skeptical of low prices listed online. Shoppers are now getting hit with unexpected fees at checkout as stores like Shein and Temu pass along customs charges to buyers.

And don’t be surprised if your favorite items are suddenly harder to find. Because of rising import costs, some retailers are cutting back on variety and sticking to bestsellers or high-margin goods. This leaves fewer choices for budget-savvy shoppers.

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

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

In a heartbreaking scam that’s left a Naples couple reeling, two fraudsters tricked the 72-year-old couple into handing over more than $2 million worth of gold.

The ordeal has left the elderly couple shattered. The gold is nearly impossible to trace, making it unlikely they will get their stolen assets back.

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“They took money from their accounts and purchased gold,” Lt. Bryan McGinn of the Naples Police Department explained to Gulfcoast News Now, “Once they had the gold, the fraudsters sent a courier to pick it up, telling the victims that the gold would be safely stored and eventually returned to them.”

For several months, the couple was under the impression that the gold was being safely held and stored. Later, they discovered they had been duped and contacted local authorities for help. By then, the fraudsters had vanished with their precious assets.

Couple duped into believing gold was safely stored

According to McGinn, the scam began when the couple was contacted multiple times by the fraudsters.

The scammers claimed they had a warrant for the couple’s arrest and threatened they would be detained unless they purchased gold and handed it over. They were instructed to buy gold in coins or small bars, with the promise that it would be safely stored and returned later.

Authorities intercepted Soyeb Rana, one of the suspects, as he arrived to pick up gold from the couple. He faces several charges, including conspiracy, scheme to defraud, fleeing and eluding, and possession of marijuana.

“This is a sad situation,” McGinn said, offering advice to others who might find themselves in similar circumstances. “Law enforcement is never going to request money. There’s never going to be an exchange of assets for your freedom or anything like that in this country. Just take a second, take a breath, contact local law enforcement. And we don’t mind figuring out together whether something is legitimate or not.”

The arrest is a step forward in the case, but the recovery of the gold remains unlikely.

With precious metals frauds like this on the rise, here are some tips to keep your assets protected.

Top red flags to look for with precious metal frauds

The precious metals sector has become a magnet for scams. Gold, silver and other precious metals often bring out the worst in fraudsters who target unsuspecting investors. Whether you’re a seasoned investor or just beginning to explore this market, stay vigilant so you don’t fall for scams. Here’s how you can spot the warning signs of potential fraud and take steps to safeguard your investments.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Be wary of high-pressure sales tactics

If you’re being rushed into making a decision without time to think, that’s a huge red flag. You might hear phrases like “this deal won’t last long” or “you need to act now.” Legitimate dealers, on the other hand, will give you time to research and consider your options. Be wary of any dealer or salesperson who guarantees profits or pitches an investment opportunity that seems too good to be true. While precious metals can be an effective hedge against inflation and market volatility, no investment is risk-free, and no one can guarantee returns. If someone claims they can, it’s almost certainly a scam.

Avoid unlicensed or unregulated dealers

Before you buy, ensure the company or individual you’re dealing with is properly licensed and regulated by government bodies like the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC). Research the company thoroughly, check reviews on trustworthy sites like the Better Business Bureau (BBB) and consult a financial advisor before you make big decisions.

Always ask for documentation

Every precious metals transaction should include a receipt, contract, or invoice. Be sure to read everything carefully and never sign anything you don’t fully understand. Some scams also involve too much focus on the physical possession of metals. While it’s common for investors to want to hold their gold or silver, some shady dealers push the idea that physical possession is the only way to safely store your investment. Legitimate dealers typically recommend secure, regulated storage options to ensure your assets are well-protected.

Steer clear of unsolicited calls

If you’ve received an unsolicited call, email, or social media message offering an "exclusive" investment opportunity, that’s another potential red flag. Scammers often reach out cold, offering deals that seem too good to pass up, or in the case of the Naples couple, scaring them into acting in a hurry. Scams like this are unfortunately on the rise, but the more you know, the better equipped you’ll be to avoid being a victim.

What to read next

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
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• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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

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

Just when people are more worried than ever about their investments, even to the point of cashing them out, BlackRock Inc. CEO Larry Fink says it’s time to go all in.

But he has a specific investment in mind: private equity, also known as alternative investments.

BlackRock (BLK) has long been known for its low-cost stock index funds, or exchange-traded funds (ETFs), but Fink sees a big future in higher-fee private assets that aren’t listed on the stock markets.

“The solution isn’t to abandon markets,” he wrote in his annual letter to investors.

“It’s to expand them, to finish the market democratization that began 400 years ago and let more people own a meaningful stake in the growth happening around them.”

Fink has overseen BlackRock’s rise to the world’s largest money management firm with more than US$10 trillion in assets. He also serves on the board of the World Economic Forum, and believes opening up private-equity markets will help reduce the gap between rich and poor.

More asset management firms offering private equity

Fink notes that up until recently only wealthy people could invest in infrastructure projects like data centres, ports and power grids — even real estate projects and private credit were hard to access for the non-accredited investor. That’s because these large-scale investment projects usually require cooperation between private firms, government agencies and stakeholders — and due to their complexity are rarely available as investment options through through shares on a stock exchange.

To find a way to access these investment opportunities fund managers found opportunities using private equity. Among the asset management companies forging a path to these opportunities are Blackstone (BX), Apollo (APO) and KKR (KKR) — all offering regular investors access to private equity investment opportunities.

At this point in time, Fink is so bullish on this asset class that he steered his firm to take a lead position. Last year, BlackRock acquired Global Infrastructure Partners for US$12.5 billion and data firm Prequin for US$3.3 billion. The firm is also wrapping up a US$12-billion deal for private credit company HPS Investment Partners.

Together, these investments will help BlackRock manage US$600 billion in alternative assets.

Updating the traditional portfolio mix to private equity

Fink suggested that the traditional 60/40 portfolio of 60% stocks and 50% bonds may no longer be enough to diversify effectively.

Going forward, Fink suggests investors consider a new portfolio mix with 50% in stocks, 30% in bonds, and 20% in private assets like real estate, private credit and infrastructure.

To help retail investors tap into these markets, BlackRock started rolling out model portfolios that include private equity and credit funds alongside traditional assets like stocks and bonds.

These portfolios, which average 15% exposure to private assets, are now available to those invested in the U.S. stock market.

How can investors get exposure to private equity?

While it’s possible to invest in BlackRock fund traded on an American stock exchange, investors will need to consider the impact of withholding tax, as well as currency fluctuations.

For investors who would prefer to avoid U.S. withholding tax and currency exchange fees, consider investing in exchange-trade fund (ETF) with exposure to private equity. Good examples include:

iShares Diversified Monthly Income ETF (XTR): This fund aims to provide consistent monthly cash distributions with the potential for modest long-term capital growth. Best suited for investors seeking regular monthly income. Primary holdings include Canadian iShares ETFs that offer exposure to a diversified portfolio of income-bearing investments.

• Asset Allocation (as of March 31, 2025): 40% equities, 50% fixed income, 10% real estate investment trusts (REITs).
• Top Holdings: iShares Canadian Financial Monthly Income ETF, iShares Canadian Corporate Bond Index ETF, iShares Canadian Real Estate ETF.
• Best suited for investors seeking regular monthly income.

iShares Core Income Balanced ETF Portfolio (XINC): Seeks to provide long-term capital growth and income by investing primarily in one or more ETFs managed by BlackRock Canada.

• Asset Allocation: 80% fixed income, 20% equities.
• Top Holdings: For fixed income: iShares Core Canadian Universe Bond Index ETF (XBB), iShares Core Canadian Short Term Corporate Bond Index ETF (XSH), iShares U.S. Treasury Bond ETF (GOVT), iShares Broad USD Investment Grade Corporate Bond ETF (USIG). For equities: iShares Core S&P/TSX Capped Composite Index ETF (XIC), iShares Core S&P Total U.S. Stock Market ETF (ITOT), iShares Core MSCI EAFE IMI Index ETF (XEF), iShares Core MSCI Emerging Markets IMI Index ETF (XEC).
• Best suited for investors looking for a low-cost, diversified exposure to a broad range of asset classes and regions with a conservative goal of regular income.

The easiest way to get access to these or other ETFs with private equity exposure is to open a discount brokerage account. One good option is to build your own investment portfolio with Investor’s Edge online and mobile trading platform and enjoy low commissions. Get up 100 free online equity trades when you open a CIBC Investor’s Edge account using promo code EDGE100. Offer ends September 30, 2025. Conditions apply.

Bottom line

While these new investment opportunities are exciting, investors need consider the risks and additional costs associated with this new portfolio strategy. For instance, investing in private assets can result in higher management fees, less liquidity, and more complexity compared to traditional investments. That means you might not be able to access your money as quickly, so consider your financial goals before diving in.

To keep up with changes in private-market investments and diversification, check out trusted government and financial resources on the subject.

Before you make any moves, it’s always a good idea to chat with a financial advisor who can help you figure out whether private-equity investment fits with your risk tolerance and long-term goals.

Sources

1. BlackRock: Larry Fink’s 2025 Annual Chairman’s Letter to Investors

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

Emily, a 30-year-old from Jacksonville, Florida, reached out to The Ramsey Show looking for advice on an unusual situation. Her boyfriend, 32, views 401(k)s as a "scam," and his views are causing tension in their relationship.

She’s been dating the “lovely young man” for about nine months, and during a casual chat about retirement savings, she was shocked by his take on them.

“I’m a big saver,” she explained. “So I’m really into it, I have a 401(k) and a Roth IRA. And his response was that all that matters is working and making money now, and that 401(k)s are a scam.”

She called the show to ask financial educator Dave Ramsey for advice on how to approach the conversation and help her boyfriend understand why saving for retirement is important.

Ramsey weighed in with context and caution, and didn’t mince his words.

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Like teaching someone how to ride a bike

“Without knowing why he thinks 401(k)s are a scam, what he’s really saying is, ‘I came from an area where we’re living hand-to-mouth, and thinking about the future isn’t something I want to do. I just want to enjoy the moment.’ That may be rooted in the instability he grew up with, political, economic, or safety-related, but,” Ramsey warned, “it’s still a broken and immature viewpoint.”

Ramsey didn’t hold back, saying, “That’s a problem for you. Because you get to live with someone who’s going to do no planning for the future, which guarantees your future sucks.”

“Did you ask him why he thinks they’re a scam?” co-host Ken Coleman asked. “Was there any kind of follow-up on that particular classification of it?”

She admitted, not really. Her boyfriend, originally from Albania, moved to the U.S. six years ago and just became a citizen this year. He’s 32 and she’s 30.

Coleman offered an empathetic approach, saying that fear might be at the core of her boyfriend’s beliefs.

“If he is truly scared of this product, 401(k), because he doesn’t understand it … then you can deal with fear,” Coleman said. “It’s like teaching someone to ride a bike. You start with training wheels. This is going to be a gradual teaching process.”

Ramsey also notes it may be a mistrust of banks, in general, based on experiences of banking in his country of origin, where there may not be the same safety net to prevent people losing their money. He calls out Latin America in reference to this, but notes this may be a root cause of Emily’s boyfriend’s mistrust too.

Whether it’s money-related insecurity or basic immaturity, Ramsey was clear: “You’ve got to work through this with him, or don’t marry him. Ain’t worth it.”

The caller appreciated the candid advice, and both hosts offered practical next steps.

“Take him to see a SmartVestor Pro,” Coleman recommended. “If he’s afraid, honor his fear. Don’t dismiss his questions.”

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

SmartVestor Pro is a free service offered by Ramsey Solutions, the organization founded by Dave Ramsey, and meant to connect individuals with legit financial professionals who share Ramsey’s investment philosophy.

Ramsey added, “Actual fear is of something that is logical. If you’re standing in the middle of an interstate and an 18-wheeler is coming at you at 100 miles an hour, you should move. That’s right. That’s actual fear. You’re going to die. That’s a lot different, though. And so this is false evidence appearing real, or it’s immaturity. I don’t know which.”

Money disagreements are a common issue with couples

Emily’s situation reflects a broader issue in the United States: many couples disagree about money matters or think about their partner’s finances — and this can even be a deal-breaker.

A 2019 Pew Research Center study found that:

44% of adults who live together claim financial stability as a prerequisite to getting married.

29% of cohabiting adults say their partner’s not being ready financially is a major reason for not marrying (while 24% claim it as a minor reason).

When it comes to not planning for retirement, Emily’s boyfriend isn’t the only one. According to the U.S. Census Bureau’s Survey of Income and Program Participation, among working-age individuals (ages 15 to 64), only 34.6% owned 401(k)-style accounts in 2020. This means that the remaining portion of the workforce does not have access to or participates in 401(k) plans.

With Northwest Mutual’s 2025 Planning & Progress Study defining the new “magic number” for a comfortable retirement as being $1.26 million, investing in your golden years doesn’t make you a mark; it makes you a thoughtful planner.

Still, “It’s tempting to roll your eyes at something that sounds stupid,” Ramsey admitted. “But you can’t. You’ve got to honor it and dig down to the root of it. Because when you’re not aligned on reality, you have a problem.”

Emily’s tricky situation highlights how important financial compatibility is. Facing differing financial philosophies head-on, through open communication and professional advice, can help couples navigate conflicts and work towards shared financial goals.

Agreeing about money is critical in a long-term relationship. When couples aren’t on the same page about joint budgets or even basic financial principles like saving and planning for the future, it’s not just about money, it’s about values, maturity, and security.

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

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

If you’re divorced and in your mid-50s with kids and a healthy RRSP nest egg than retirement at 65 isn’t off the table. But a comfortable retirement isn’t just about the size of your nest egg anymore, it’s about who you need to support, how long that support should last and what lifestyle you’re aiming for when you retire.

Many Gen Xers are now facing similar questions with retirement on the horizon. The good news? With careful planning and a clear-eyed view of future expenses, retirement in about a decade is within reach.

Let’s say you’re aged 55, divorced with two kids and have $810,000 in your RRSP — here’s what you and others in a similar situation need to consider.

How big can your portfolio get?

In addition to your current account accumulation in your registered retirement savings plan (RRSP), imagine you’re able to max out RRSP contributions for the next 10 years. That means putting away $32,490 each year. This amount can be your own contributions, as well as employer matched contributions, if your workplace offers such a program. Just be mindful that your contribution limit might be lower if you are a member of a registered pension plan through your employer.

While $33K per year is a lot, keep in mind that contribution limits tend to rise over time. But for the sake of simplicity let’s assume they stay the same over the next decade. Let’s also assume you break down this contribution into monthly sums of approximately $2,708 (with no employer match. Assuming a conservative annualized investment return of 7%, this portfolio would be worth just over $2.1 million when you turn age 65.

That’s a solid nest egg, but before you celebrate you need to figure out how much income this portfolio will provide you during your retirement years.

Using the 4% rule as a guide — which means withdrawing 4% of your savings in your first year of retirement and adjusting that amount annually based on inflation — you could withdraw $80,000 from your retirement account in your first year of retirement. Add in the income benefits of the Canada Pension Plan (CPP), and this comfortable retirement income should should last at least 25 to 30 years.

But as a divorcee with kids, there are other factors to consider.

What about your kids and your ex?

Here’s where things get complicated because you’re not just planning for yourself.

Are your kids still under the age of majority? Are they in college? Are you covering tuition or rental housing as they attend post-seconeary school? If any of these scenarios are possible than it’s wise to budget for these additional costs, now.

Even if you’re done with formal support, you may want to help out in different ways. For instance, you may support your kids by allowing them to live with you, as a result your household expenses may stay higher for longer.

Do you pay alimony? Finding out when you no longer need to make those payments will be critical.

Also, depending on marital laws in your area, your ex may have a claim on your retirement accounts as a divorce can split RRSP earnings based on the marriage years. Make sure you know what’s truly in your name before you plan around it.

Health care and taxes

Healthcare is one big reason Canadians get strategic about retirement, especially if you may need home care, long-term care or prescription costs.

Also, remember that RRSP withdrawals are taxed as ordinary income. If you’re pulling $80,000 a year, you’ll need to factor income tax into your budget.

A portion of your CPP benefit is also taxable income. While taxes aren’t automatically deducted you will be required to square up with the Canada Revenue Agency (CRA) when it comes tax time. If you want to skip the tax shock, you can log into your My Service Canada account and request to have your federal income tax deducted on a monthly basis.

If you have any further concerns — including care for yourself in the future — consider meeting with a financial advisor. Together you can come up with a plan to best suit your needs.

Bottom line

So, can you retire in 10 years? If you keep up your retirement contributions and the market is stable, it’s very possible — especially if your expenses aren’t sky-high. A $2 million nest egg sounds like a lot, but it depends on how you spend the money and who you support.

It’s less about a magic number and more about a personal budget. Can your future income cover your actual costs, including kids, taxes, health care and leisure? If you’ve got a handle on what your costs will be, and the math checks out, retirement could be a real option.

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

Nancy, a senior from Las Vegas, says she recently won $200,000 after an appearance on a game show. Unsure what to do with the life-changing jackpot, she called into The Ramsey Show seeking advice.

“I’m 70 years old, that’s more money than I’ve ever had,” she said in a clip posted May 11.

But with great winnings come taxes. Nancy says she had about $145,000 left in prize money after paying roughly $55,000 in taxes. Now, the big question loomed: What should she do with this windfall?

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Here’s what finance personality Dave Ramsey had to say.

‘You don’t want to be digging up bushes in your yard for dinner’

Nancy told Ramsey she and her husband are semi-retired, living on about $4,500 a month in Social Security, plus some part-time work where she earns up to $600 per month, and her husband brings in a couple of thousand dollars more. They recently downsized their home and owe $85,000 on the mortgage, which runs them $756 per month.

Their total savings? Just over $200,000, including the game show winnings, which they’ve parked in a high-yield money market account earning 5.5% interest. Outside of home equity, that’s their entire financial cushion.

So, the big question was should Nancy pay off the house or keep the cash? Ramsey was quick to weigh in.

“If you had $600,000, I would tell you instantaneously write a check and pay off your house,” he said. “If you had $100,000, I would say don’t touch it, you would be starved.”

In Nancy’s case, Ramsey recommended she pay off the house, but only if she and her husband commit to the following strategy:

• Get on a tight, detailed budget.
• Start investing $1,000 to $1,500 per month in a mutual fund.
• Keep $30,000 in emergency savings
• Invest the leftover funds into a mutual fund as well.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Here’s Ramsey’s logic: Paying off the house would free up $756 per month. If the couple can get on a budget and squeeze about $750 more out of their monthly income, investing $1,500 per month, with an average annual return of 10%, would generate around $85,000 in four years, covering the amount used to pay off the mortgage.

As for investing the rest of the couple’s savings, let’s say they’re left with $75,000 after paying off the house and setting aside an emergency fund — assuming the same average rate of return as above, that amount would be close to $150,000 by age 77, and around $300,000 by age 84, not counting additional monthly contributions.

“Too many retirees have a paid-off house and no money to live,” Ramsey warned. “You don’t want to be digging up bushes in your yard for dinner.”

How to smartly plan for a financial windfall

If you suddenly come into a life-changing amount of money, you might be tempted to spend it. But you also will want to make sure it lasts so you don’t end up going broke.

Before making any major financial moves, make sure you understand the tax hit. Many windfalls aren’t tax-free, so it’s a good idea to get in touch with a licensed accountant. Figure out how much you’re really walking away with before you start writing checks.

Next, take a look at your debt. Any high-interest debt, from credit cards to personal loans, should be on the chopping block. That said, not all debt is created equal. Got a mortgage under 4%? It might be worth keeping for now, depending on your broader financial picture and how much you’ve got to work with. After all, you don’t want to end up house-rich and cash-poor.

Don’t forget about safety. Boosting or building your emergency fund with three to six months’ worth of expenses, parked in a high-yield savings account, can protect you from going further into debt in case your car breaks down or a pipe in your home bursts.

Retirement accounts may also be top of mind. Consider setting one up, if you don’t have one yet, and contributing the maximum amount yearly. A financial advisor can help set you up and invest for long-term growth so you can enjoy your golden years.

At the end of the day, a financial windfall with the right plan can set you up for stability, freedom and maybe even a little fun.

What to read next

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

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