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Author: Jessica Wong

  • ‘They were 2 feet away from having a dead 6-year-old’: Portland family sues city for $4.7M after a fir tree they were were prevented from chopping crashed into their home

    ‘They were 2 feet away from having a dead 6-year-old’: Portland family sues city for $4.7M after a fir tree they were were prevented from chopping crashed into their home

    A Portland, Oregon family was stunned when a 150-foot Douglas fir tree crashed into their home during the January 2024 snowstorm — with them inside.

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    Joel and Sarah Bond had filed for a removal permit back in January 2022, but Portland’s Bureau of Urban Forestry denied the request, stating "no serious structural defects were observed," and that cutting it down would “significantly affect the neighborhood character.”

    “I saw wood and debris on the ground, a collapsing roof,” Sarah wrote in an account of the moment, reported KGW 8. “I scream my daughter’s name. Silence. Then I hear my husband say, ‘I got her!’”

    The Bonds’ six-year-old daughter was only a couple of feet away from where the tree smashed into the house.

    “They’ll still have to live knowing that they were two feet away from having a dead six-year-old,” their attorney, Joe Piucci, told KGW 8. The family, who are currently living in a rental while their home is repaired, are taking the City to court for $4.7 million.

    “The family has been through hell”

    The Bonds said they feared the tree posed a danger soon after they bought the home a few years ago. In January 2022, they applied for a permit to remove it.

    According to court documents, the couple claim an arborist spent less than 10 minutes inspecting the tree and missed several signs that it was diseased.

    Photos taken at the time showed the tree visibly leaning toward the house. But the City denied the removal, saying it didn’t meet the threshold for removal under Portland’s tree code.

    “They tried to protect their home and the City prevented them from protecting their home,” Piucci told KGW 8, “(The City is) not concerned about people’s safety; they’re concerned about keeping the tree canopy.”

    According to the government website, the city’s tree code “lets homeowners easily remove problem trees (those that are dead, dying, diseased, dangerous, nuisance species, or too close to buildings) with the provision that a new tree be replanted to replace the one being removed.”

    The permit denial included an option to appeal for a $200 fee, which the Bonds declined. “They thought, ‘Why would I pay $200 to the city to tell me that I’m wrong again?’” said Piucci. “They’re not arborists — the Urban Forestry Department is full of arborists.”

    Both the City of Portland and City Forester Jennifer Cairo are defendants in the case. In response to the Bonds’ tort claim filed last fall, the City reportedly suggested the tree’s survival for nearly two more years after the initial inspection indicated it wasn’t in poor condition at the time. “Although the damage of property is certainly unfortunate, we conclude that the City is not legally liable for that damage,” it said.

    Piucci called that response “offensive” and added, "Their family has been through hell over the last 14 months."

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    Steps to take if your tree removal request is denied

    Denied a tree removal permit, but worried your tree might be hazardous? Here’s what you can do to protect your home and your family.

    First, be sure to request written documentation. Ask the city for a detailed explanation of why the permit was denied.

    Take clear photos or video showing the tree and any visible defects, leaning, dead limbs, or proximity to structures and document all your communication by keeping emails and letters to show your attempts to follow process and raise safety concerns.

    Consider hiring an ISA-certified arborist who can inspect the tree and provide a risk assessment report. You can check resources such as the Find an Arborist tool on the International Society of Arboriculture.

    Many cities, including Portland, allow you to appeal permit decisions so you can also consider filing an appeal.

    If you’re hitting dead ends but believe there’s a real danger, consulting an attorney may be worthwhile.

    As for the Bond Family, beyond financial damages, they are also hoping to push the city to ease its restrictions on tree removal to improve safety.

    If the case is not settles, Piucci expects it could go to trial within the next 18 months.

    What to read next

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

  • ‘The system is a shambles’: DOGE has Social Security recipients fuming over ‘ridiculous’ wait times — and the man who ran the program is predicting ‘system collapse.’ Is your check at risk?

    ‘The system is a shambles’: DOGE has Social Security recipients fuming over ‘ridiculous’ wait times — and the man who ran the program is predicting ‘system collapse.’ Is your check at risk?

    Phone lines jammed. Websites crashing. Field offices turning away walk-ins.

    That’s the new normal at the Social Security Administration (SSA) as a Trump administration “efficiency” overhaul, spearheaded by tech mogul Elon Musk’s Department of Government Efficiency (DOGE), cuts staff and services across the nation.

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    These measures have led to significant delays and disruptions for millions of seniors reliant on their benefits.

    In Wisconsin, one Social Security office is reducing its workforce by more than 58%, while other locations have experienced similar cuts, according to Business Insider. As a result, seniors are encountering longer wait times, reduced phone support and, in some cases, the closure of local field offices.

    Founder of All Seniors Foundation Gevorg Adjian perhaps put it best.

    “The system is a shambles," he told the Los Angeles Times.

    The American Federation of Government Employees warns that these reductions are straining the system, leading to increased backlogs and service interruptions.

    How might the cuts affect Social Security?

    While cutting taxes may be a popular idea in theory, it could come at the expense of a program millions of Americans rely on for stability whether it’s for retirement, a disability or the loss of a loved one.

    While Trump insists these moves would make the government more efficient and help working Americans, the concern is clear that without a solid plan to replace the lost revenue, Social Security could be headed for a financial cliff.

    According to the Committee for a Responsible Federal Budget (CFRB), Trump’s plans could add up to $2.3 trillion to Social Security’s cash deficit over the next decade. This would lead to the program’s trust funds becoming insolvent by 2031, three years earlier than currently projected, and a 33% across-the-board cut in benefits by 2035.

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    ‘The system, it’s broken down’

    The impact of the staff cuts has already been felt by many Americans.

    For people like 52-year-old Veronica Sanchez, a Canoga Park medical practice manager, the stakes are high. According to the L.A. Times, she’s been fighting phone queues and error messages for days to secure a document that determines whether her parents, who depend on daily nursing care and insulin, keep their medical coverage.

    “I’m gonna have to take time out of my work to stand in line and hopefully get this resolved,” she said. “The system, it’s broken down.”

    The Trump-Musk duo’s vision? A lean, tech-forward Social Security system.

    But in practice, it can leave older Americans behind. Online-only applications, a push to phase out paper checks and clunky verification systems have left millions locked out, especially those without smartphones or email.

    Even walk-ins are being told to go home. At a Los Angeles field office, Andrew Taylor, who is currently unhoused, was told he needed to schedule an appointment online to receive a benefits letter that would let him apply for food stamps.

    “It’s ridiculous,” he told the L.A. Times. “They said they would have to mail it to me and there’s nothing they could do for me today … Poor people always seem to get the worst of it.”

    A coalition of advocacy groups, including the American Association of People with Disabilities, filed a federal lawsuit, calling the changes “destabilizing” and irreparably harmful, according to the L.A. Times. It argues the administration is gutting one of America’s most vital programs under the guise of efficiency.

    The lawsuit claims the overhaul prioritizes ideology over obligation — “placing governance over the governed.”

    From Arizona to Southern California, even Trump supporters are feeling the pinch.

    Teresa Boswell, who voted for President Trump, is still trying to access her monthly benefits.

    “I didn’t know he was going to pull this,” she told the New York Times. “This is a joke.”

    Boswell found herself fuming outside the Social Security office in Glendale in early April, unable to sign up for $1,200 in monthly benefits after she retired.

    April 14 marked a major shift with many services previously available by phone now being online-only. The SSA insists it’s reallocating staff to “mission-critical services,” but insiders warn the agency is barely holding together.

    With lawsuits mounting, pressure is on the White House to reverse course or risk an administrative implosion that could define the 2026 midterms.

    If you’re relying on Social Security, buckle up. The safety net may still be there, but accessing it may be harder than ever.

    What you can do now

    Former Social Security Commissioner Martin O’Malley has expressed grave concerns about the future of the program. As reported by CNN back in March, he predicted that without immediate action, the system could collapse within 90 days.

    “Everything they’re doing is driving this agency to system collapse,” O’Malley told CNN. “It will lead to interruptions in service, and that will ultimately cascade into more frequent system interruptions for the processing of claims, ultimately leading to system collapse and eventually the interruption of benefits.”

    But there are some proactive steps you can take now to lessen the impact of potential disruptions.

    O’Malley advises beneficiaries to start saving now to prepare for potential delays or reductions in payments.

    Along with setting aside emergency savings, make sure that all personal and financial information is up to date with the SSA, and explore alternative income sources or assistance programs.

    Stay on top of updates regarding any changes to payment schedules or procedures by monitoring official SSA communications.

    For the most current information and resources, beneficiaries can visit the official SSA website or contact their local SSA office.

    What to read next

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

  • This California hoarder home is a hot draw — listed at $400K less than neighboring houses. Here’s what to know about the financial risks and rewards of buying distressed properties

    The community on Mariner Drive can finally breathe a sigh of relief.

    After years of legal battles, a long-awaited open house was recently held for a notorious hoarder home in Ocean View Hills, California, giving hope to neighbors who have been dealing with the property and its former owner for more than a decade.

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    "The sun is shining today,” Ronnie Taylor, a neighbor, shared with CBS 8. “I cannot believe it."

    The four-bedroom home is apparently in such rough shape that it’s being sold “as is,” which means the buyers will be responsible for cleaning it up, as well as any potential renovations. Photos of the house’s interior show an unsanitary environment soiled with garbage and animal waste. In fact, city crews had previously reported sightings of rats and other pests inside the home.

    Because of the state of the property, safety protocols were put in place for the open house. Masks and hand sanitizer were offered to guests, and anyone stepping inside was asked to sign a form acknowledging that they were doing so at their own risk.

    Despite the state of the property, the realtor — who chose to remain anonymous for safety reasons — has reportedly received more than 100 inquiries within a week of the home hitting the market. And while there’s plenty of interest in this house, Taylor has issued a warning to potential buyers.

    "My only concern is for the new family," said Taylor. "You’re going to have this creepy person either parking in front of your house, looking over your back fence until finally she goes away."

    Neighbors felt ‘terrorized’ by hoarder

    Taylor, who has lived nearby for years, notes that many homes in the neighborhood have recently sold for around $1 million, making this property’s $599,999 asking price relatively low.

    And that’s what makes distressed property purchases so intriguing. Distressed real estate refers to property that can be purchased at a big discount because there’s something “wrong” with it. It could be the sellers facing a dire situation, such as a foreclosure, or a judge allowing a court-appointed receiver to put the house on the market, as is the case with this home on Mariner Drive.

    This hoarder home has sparked strong interest from potential homebuyers, but most of the interest seems to be coming from investors. And while the house itself could be a good financial opportunity, the property’s history remains complicated.

    Former owner, Lisa Golden, was arrested for trespassing just a day before the open house and was reportedly spotted later that day driving past the home. Shortly after that, Golden was seen filming people from the sidewalk across the street from the open house.

    "I believe she’s kind of mentally attached to that place," Taylor explained, acknowledging that even with new ownership, the home’s challenges might continue. "She’s terrorized me to the point I had to get a restraining order."

    Despite these challenges, the realtor remains optimistic. "We’re hopeful it will go into escrow pretty quickly," she said, though she did not confirm whether any formal offers had been made.

    There’s no doubt that a house listed at a sizable discount compared to other neighboring properties is going to attract plenty of interest, but there are some considerable risks involved with buying a distressed property.

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    What to know before buying distressed properties

    For potential buyers, purchasing a distressed property like the one on Mariner Drive requires careful consideration of the pros and cons.

    The pros

    • Lower purchase price: The obvious advantage to buying a distressed property is that the purchase price is often significantly lower than that of regular properties in decent shape. With this house on Mariner Drive, the place is in such bad condition that the property has been listed at around $400,000 less than homes that were recently sold in the neighborhood.

    • Less competition: For distressed properties, there’s often much less competition than there would be for regular real estate opportunities. Distressed properties are considered riskier purchases, and that often eliminates several potential buyers from serious consideration.

    • Value-add potential: Distressed properties often require extensive renovations, repairs or even potential redevelopment. This work can increase the property’s value, giving the buyer or investor the opportunity to make a profit from capital appreciation or even rental income.

    The cons

    • Uncertain condition of the property: This is the big risk that buyers take on when they purchase distressed properties. These houses sold “as is” are often in very rough shape and it’s not uncommon for buyers to discover hidden damages after finalizing the sale. Buyers purchasing distressed properties often budget for renovations, but hidden damages can lead to costly repairs that will eat into your budget or your profits.

    • Legal/financial complications: Buyers who purchase distressed properties can sometimes face legal complications, such as liens on the house, outstanding taxes or title issues. These unfortunate situations can add both cost and time to the buying process and could even prevent some buyers from completing the purchase.

    • Market volatility: The market for distressed properties is often more susceptible to economic conditions than standard real estate markets, which makes these kinds of homes a riskier purchase.

    As you can see, there’s a lot to consider when buying a distressed property. While the lower purchase price and potential for value adds can be substantial, the tricky part is figuring out whether the pros will outweigh the risks involved with such a purchase.

    Distressed homes can often be purchased at a discount, but buyers should make sure to factor in renovation costs, potential delays and other hidden expenses when figuring out whether the investment makes sense for them.

    Investors who are planning to flip the house or lease it out to renters may be willing to take on more risk than buyers who plan to renovate and move in. But either way, buyers should hire a professional to conduct a detailed inspection in order to understand the full scope of the work required.

    Buyers should also be aware of any ongoing legal battles related to the property. In this case, Golden’s history of legal disputes could add to the complexity of the purchase. Buyers considering this house on Mariner Drive would be wise to consult a lawyer to make sure there are no legal issues that could pop up after the sale is finalized.

    While the Ocean View Hills hoarder home may be a great opportunity for the right buyer, it’s important to carefully evaluate the financial risks involved with such a purchase. With proper due diligence and a clear plan, buying a distressed property can turn into a rewarding project, but it’s not without its risks.

    What to read next

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

  • ‘Sometimes, everything can go down’: Suze Orman says retirees need this much cash on hand at all times — and it’s more than you might expect

    ‘Sometimes, everything can go down’: Suze Orman says retirees need this much cash on hand at all times — and it’s more than you might expect

    How much money do you really need to retire without losing sleep at night? If you think your 401(k) alone will cut it, think again — one wrong market move could put your entire retirement plan to sleep.

    But figuring out how much cash you’ll need to enjoy your retirement isn’t exactly straightforward. Between health care, housing, groceries and maybe even a vacation or two, the costs can add up fast.

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    And the reality? Everyone’s “magic number” is a little different.

    If you’re looking for a solid starting point, personal finance icon Suze Orman has some rules that might help you get a good night’s sleep, though her magic number may surprise you.

    Orman’s magic number for retirement

    Orman recently shared her thoughts on her Women & Money podcast, and her advice is all about playing defense — especially in unpredictable markets.

    Her first rule: don’t rely on your 401(k) or IRA. Sure, you’ve been diligently contributing to your 401(k), Roth IRA or traditional IRA for years, but the stock market doesn’t always play nice.

    “It’s not always that stocks go down and bonds go up, or bonds go down and therefore stocks go up. Sometimes everything can go down,” Orman said on the podcast.

    Translation? If your entire retirement plan is riding the market rollercoaster, you could be in for a wild ride just when you’re hoping for smooth sailing.

    So, how much cash should you have on hand? To cushion the blow in a market downturn, Orman recommends stashing away three to five years’ worth of living expenses in a liquid, low-risk account, like a high-yield savings or a checking account.

    This “just-in-case” fund should not be tied to the market. That way, if things go sideways, you’re not forced to sell investments at a loss just to cover rent or buy groceries.

    “If you really wanna be on the safe side, it’s five years,” Orman said. “If you wanna just play it so that you have at least three years, okay, you can do that, as well. Maybe you split it and you do four years.”

    According to the Federal Reserve’s 2022 Survey of Consumer Finances, the average American household has saved about $333,000 for retirement.

    If you haven’t started building that emergency fund yet, here’s how to begin.

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    How to build your cash cushion

    Building a solid cash cushion isn’t just about peace of mind. Having easily accessible funds can help you navigate emergencies, smooth out your cash flow and even take advantage of surprise investment opportunities.

    A great place to start is with a high-yield savings account. These offer better interest rates than traditional savings accounts, so your money works harder while remaining liquid. Plus, they’re usually FDIC-insured, so you don’t have to lose sleep over risk.

    Another option is money market funds. While they’re not FDIC-insured, they tend to offer higher returns by investing in short-term, high-quality debt. They’re still fairly liquid, but if safety is your top priority, weigh the risks carefully.

    If you’re comfortable locking your money away for a bit, short-term certificates of deposit (CDs) might be worth a look. They offer fixed interest rates and are FDIC-insured — just keep in mind, there are penalties if you withdraw early. CDs are best for funds you know you won’t need soon.

    The earlier you start building your cash reserve, the better. Compound interest can do a lot of the heavy lifting if you give it enough time. Even setting aside a little each month can make a big difference later. The U.S. Department of Labor’s Retirement Savings Toolkit is a helpful resource.

    Another easy win is to trim your discretionary expenses. Cutting back on extras like streaming services, frequent dining out, and impulse buys can free up cash for savings, where it can actually earn interest instead of disappearing.

    Automating your savings is a game-changer, too. Set up a recurring transfer from your checking account to your savings, and you’ll build up a nest egg without thinking about it. It’s one of the easiest ways to stay consistent and avoid spending that extra cash.

    Remain calm and save on

    If you’re nearing retirement and your savings aren’t quite where you want them to be, don’t panic. In some cases, delaying retirement by even a year or two can make a huge difference. You’ll have more time to save, fewer years to fund and you may increase your Social Security benefits in the process.

    It’s also wise to keep your investment portfolio balanced. A smart mix of asset classes can help manage risk while generating income or growth to pad your cash reserves over time.

    And remember, don’t set your plan and forget it. Life changes, markets fluctuate and your goals may shift. Check in regularly with your financial advisor and adjust your strategy as needed.

    Start small, take what you need and build up your safety net before stepping away from a steady paycheck.

    What to read next

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

  • Florida Gov. DeSantis wants to give homeowners a $1,000 property tax rebate — but lawmakers are not convinced that’s what the state needs. Here are the 3 plans proposed

    Florida Gov. DeSantis wants to give homeowners a $1,000 property tax rebate — but lawmakers are not convinced that’s what the state needs. Here are the 3 plans proposed

    Florida’s Governor Ron DeSantis has a bold proposal to give $1,000 rebates to homeowners as property tax relief.

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    These rebates, which would cover state-mandated school property taxes, would benefit over 5 million homes statewide and save Floridians up to $5 billion this year in property taxes. Checks would roll out in December 2025 and be aimed at easing the financial burden on residents amid soaring property values and insurance premiums.

    Florida is home to three of the five major U.S. metros where property tax bills have increased the most since before the pandemic, according to a Redfin report published in October. Jacksonville’s median monthly property tax bill increased 59.6% to $228 since 2019, Tampa’s increased 56.7% to $250 and Miami’s increased 48.1% to $367.

    “Property taxes effectively require homeowners to pay rent to the government,” DeSantis said in a news release, “Constitutional protections for Florida homeowners require approval of the voters in 2026. In the meantime, Floridians need relief.” He said his rebate would mark a major step toward his "long-term goal of eliminating property taxes through a future constitutional amendment."

    But not everyone is on board with the idea.

    The Florida House of Representatives has pushed back by approving a plan to permanently lower the state sales tax from 6% to 5.25%, which they are calling “the largest tax cut in state history." It would save Florida residents $5 billion annually.

    DeSantis has criticized the sales tax reduction, stating, "I don’t want to reduce taxes on Canadian or Brazilian tourists. I’d rather them pay more and us pay less."

    Senate President Ben Albritton has proposed permanently cutting sales tax on clothing and shoes that cost $75 or less, “where it can help the most number of Floridians.” He also wants a research study to be done on the effects of reducing or ending property taxes on homes.

    The legislative session will end on May 2, so the House and Senate have less than a month to agree on a budget.

    Property taxes vital in Florida

    After federal transfers, Florida’s largest source of per capita revenue is property taxes, according to the Urban Institute. The state has no personal income taxes and its tax code is considered the most regressive in the nation. Currently, property taxes contribute about $50 billion a year to the state’s budget.

    If property taxes were eliminated, local governments could face a massive revenue loss. According to the Florida Policy Institute, Florida’s property taxes make up 18% of county revenue, 17% of municipal revenue, and 50%-60% of school district revenue.

    These funds help pay for vital services like fire and police services, education, and safety net programs, and without them, local governments would need to find alternative ways to cover those costs.

    So how would the loss of funds be made up?

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    “If policymakers were to eliminate property taxes and replace them with higher consumption taxes (i.e., sales taxes), they would have to double the state’s general sales tax rate. Doing so would generate roughly $40.2 billion in the unlikely case that consumer demand remains constant,” said the Florida Policy Institute. The state’s general sales tax is currently 6%.

    Replacing property taxes with higher sales taxes could worsen Florida’s already regressive tax system. Right now, lower-income households bear a larger share of the tax burden, and increasing the sales tax could make matters worse by taking a bigger chunk out of their budgets. On the other hand, wealthier residents tend to spend a smaller percentage of their income on taxable goods, meaning they’d feel less of an impact.

    Nearly seven in 10 Florida voters would prefer keeping property taxes the way they are over a sales tax increase to 12%, according to a poll.

    While the idea of property tax relief sounds appealing, the trade-offs are significant.

    Can there be tax relief for residents while making sure the state has enough funds to support vital public services? The debate is just getting started, and the outcome will shape Florida’s fiscal future.

    What to read next

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

  • ‘I was going to lose my Medicare’: Oklahoma man says Social Security benefits cut without warning — what you can do

    ‘I was going to lose my Medicare’: Oklahoma man says Social Security benefits cut without warning — what you can do

    James McCaffrey was blindsided when found out his Social Security benefits were suspended. The 66-year old received no warning or explanation — just a bill.

    “It said that I needed to pay $740 before the 25th of this month or I was going to lose my Medicare,” McCaffrey told Oklahoma KFOR.

    The Oklahoma City retiree, who was born on a U.S. Army base in Germany, suspects that his birthplace may be the reason his benefits were terminated, after recent comments from Department of Government Efficiency (DOGE) leader Elon Musk.

    With nearly 69 million Americans expected to rely on Social Security benefits in 2025, McCaffrey’s experience highlights the growing uncertainty for retirees facing potential cuts.

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    "They could be out of the house. They could be out of food.”

    It all started when McCaffrey received a Medicare bill demanding payment. Medicare premiums are usually deducted from his Social Security check, so this was the first sign something was amiss.

    After contacting Medicare, a representative hinted that his Social Security might have been suspended. McCaffrey immediately reached out to the Social Security Administration, and was shocked to discover his benefits had indeed been suspended.

    McCaffrey received an email the following day indicating that his benefits would resume in April, but there was no mention of the March payment he had missed.

    When he checked his bank account, McCaffrey saw that the March payment had been deposited, but the lack of explanation left him uneasy.

    Changes in eligibility can impact Social Security benefits, like a change in work status, unreported income or a marital status change. But none of these applied to McCaffrey.

    Earlier, Elon Musk, who heads up DOGE, suggested cuts to Social Security, referring to the program as a “Ponzi scheme.”

    Musk also claimed, without evidence, that illegal immigrants are fraudulently collecting benefits, calling for their removal from the system, in addition to 150-year olds.

    “[Federal entitlements] is also a mechanism by which Democrats attract and retain illegal immigrants, by essentially paying them,” Musk said during the March 10 interview on Fox Business. “If we turn off this gigantic money magnet for illegal immigrants, then they will leave.”

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    McCaffrey remembered Musk’s comments and wondered if his foreign birthplace was the reason for his benefits being suspended, even though he is an American citizen and has a legal birth certificate. So far, McCaffrey has not received an official explanation from Social Security.

    In the meantime, McCaffrey worries that others could be dealing with similar Social Security benefit cuts, "I’ve been a diligent Boy Scout type, I prepared," he said. "But, no, I shouldn’t have to," McCaffrey notes that losing Social Security benefits, even for a short time, could have serious consequences for those living paycheck to paycheck. "They could be out of the house. They could be out of food. I don’t know," McCaffrey says.

    How to handle a cut in Social Security benefits

    For McCaffrey, like many seniors, retirement was supposed to be a time to enjoy more family time and travel with his wife.

    But instead, the uncertainty surrounding his benefits has put a damper on those plans. "I’d hate to have to turn around and say, ‘Well, I have to worry about my next check,’" he said.

    Former Social Security administrator Martin O’Malley appeared on NBC News and warned that proposed DOGE cuts could impact Social Security benefits for millions of Americans. Here’s what you can do if your benefits get terminated.

    The first thing to do if your benefits are cut is contact the Social Security Administration to find out the reason for the suspension and ask if there are actions you can take.

    If you don’t agree with the decision, you can file an appeal. You have 60 days to file an appeal from the date you get your termination notice. You can also ask for a reconsideration.

    You could also consider getting temporary financial assistance if your benefits are cut if you’re in immediate need.

    Finally, if you need to, seek professional help to navigate the system.

    What to read next

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

  • ‘I’m not looking for a lottery ticket here. I’m looking for accountability’: Man denied a $1K insurance claim after trooper crashes into car — how to fight insurance disputes

    ‘I’m not looking for a lottery ticket here. I’m looking for accountability’: Man denied a $1K insurance claim after trooper crashes into car — how to fight insurance disputes

    A shocking crash involving a rookie Minnesota state trooper has left a family reeling.

    The incident happened last June along Highway 23, near Marshall, Minnesota.

    Jamie Krueger was driving behind a State Patrol trooper when, without warning or flashing lights, the officer attempted a sudden U-turn to chase a speeding driver. He hit Krueger’s car and the impact sent the vehicle swerving off the road.

    While the Kruegers were treated for minor injuries, their car was deemed a total loss and Krueger was left to cover the $1,000 deductible.

    The shocker? The Minnesota Department of Administration refused to cover the costs, citing “immunity” — a legal shield protecting government workers from liability.

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    “We see that a lot with immunity cases”

    After months of back-and-forth, the state refused to pay, sending Krueger a letter saying, “We are unable to consider your claim for payment,” and citing “immunity.”

    Dashcam footage from the crash shows the moment of impact, followed by a senior trooper admitting the rookie officer, "didn’t see you." That statement and the accident report’s mention of an “improper turn or merge” seemed to confirm that the trooper was at fault.

    Legal experts like Alicia Granse, an attorney with the ACLU of Minnesota, are worried that this could set a dangerous precedent. Granse argues that while immunity shields government workers, it shouldn’t prevent them from acknowledging harm and making things right.

    “We see that a lot with immunity cases,” she said. “It’s very difficult to hold government agents accountable in any sphere.

    In recent years, the ACLU has made it a priority to challenge immunity laws, hoping to reduce how often the government uses these legal defenses.

    She added, “We don’t want to penalize, necessarily, government agents who make a mistake, but they should at least acknowledge the harm and try to make things right.”

    According to ABC News, the Minnesota Department of Administration declined to comment and the State Patrol, which confirmed the rookie officer left the force just two weeks after the crash, also refused to provide further details. The records show that the officer was not cited.

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    What to do if your insurance claim is denied

    Dealing with a denied insurance claim can be frustrating, but here are some steps you can take to navigate the tricky situation.

    To begin with, it’s important to understand your policy, keep good documentation and stay current on payments to avoid any issues in the first place.

    Each state has its own rules for handling insurance claim denials and appeals. Reach out to your state’s insurance department for advice.

    If your claim does get denied, make sure you understand why by reviewing the insurer’s Explanation of Benefits (EOB). Common reasons for denial include missing documentation, failure to meet policy terms, or expired policies. If you believe the denial was incorrect, you can file an appeal with the insurer and be sure to submit all necessary documentation and stick to deadlines.

    If your appeal isn’t successful, consider mediation or arbitration to resolve the issue more quickly and affordably. You also have legal rights, with each state offering regulations for handling claims disputes. Federal protections like ERISA apply to employer-sponsored health plans.

    If necessary, you can consider escalating the issue to a regulatory body such as the Consumer Financial Protection Bureau or seeking legal action. Seek professional advice to help guide you through the appeals process and ensure your claims are handled correctly.

    Krueger, for his part, is just looking for one thing: “I’m not looking for a lottery ticket here. I’m looking for accountability. I’m looking for the right thing to be done,” he said.

    What to read next

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

  • Massachusetts Cumberland Farms clerk saves local woman from losing $4,000 to online scam — what to watch for as these sophisticated schemes grow in popularity

    Massachusetts Cumberland Farms clerk saves local woman from losing $4,000 to online scam — what to watch for as these sophisticated schemes grow in popularity

    A sharp-eyed store clerk and a well-timed police visit saved a local woman from losing $4,000 to a Bitcoin scam in South Hadley, Massachusetts.

    The woman was stopped when the Cumberland Farms employee flagged the situation to a nearby detective, who intervened just as she was about to finalize the transaction.

    Don’t miss

    Crypto scams like this are on the rise, and because Bitcoin is nearly impossible to trace, it makes it a go-to for fraudsters.

    So, how did she get tricked, and what can you look out for with similar scams?

    Eagle-eyed clerk saves woman from fraud

    According to the report by WWLP, the incident occurred when a detective entered the Cumberland Farms store and was alerted by a clerk who suspected the woman was being scammed.

    The woman explained that she’d been on the phone with a man who instructed her to withdraw $4,000 from her bank and deposit it into a Bitcoin machine inside the store. The scammer had told her to tell anyone who questioned her that the money was for a trip.​

    The detective intervened just as the woman attempted to create a PIN on the machine. He advised her not to proceed, effectively preventing the scam. The South Hadley Police Department commended the store clerk for their vigilance and quick action in alerting authorities.​

    If the transaction had gone through, once funds had landed in the scammer’s wallet, it would have been nearly impossible to retrieve them thanks to the irreversible nature of cryptocurrency transactions.​

    According to the FBI’s Internet Crime Complaint Center (IC3), once a deposit is made, these ill-gotten gains are often moved quickly to accounts overseas, making recovery extremely difficult.

    This incident highlights the growing trend of cryptocurrency scams, where fraudsters exploit the anonymity of digital currencies to scam victims. Which is why it’s even more important these days to stay vigilant and exercise caution when dealing with unsolicited requests for cryptocurrency payments.

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    Crypto scams are everywhere: top red flags to look out for

    Cryptocurrency might be an exciting investment for some, but it also gives fraudsters opportunities to scam unsuspecting people. The red flags are easy to spot if you know what to look for. Let’s break it down.

    First: No legitimate company, government agency, or job will ever ask you to pay them in cryptocurrency.

    If someone’s demanding you send Bitcoin or any other coin to “protect your account” or “finalize a purchase,” be suspicious. And those crypto “job offers” online? If they ask you to pay to apply or start working, be wary. Real jobs pay you, not the other way around.

    If someone promises big returns or “easy money” with zero risk, especially in crypto, walk away. Whether it’s an “investment manager,” a fake celebrity endorsement, or a new mystery token, if it sounds too good to be true, it typically is. Real investing comes with risk, and nobody can guarantee profits.

    Do your research. You can use a legitimate resource like Investor.gov to verify that the individual or firm is licensed/registered. You can also check websites like the RED LIST where you’ll find entities not listed with the Commodities Futures Trading Commission (CFTC).

    A common thread with most of the crypto scams is that the fraudster will use high-pressure tactics to push you to make quick decisions. A legitimate investment opportunity would allow you to take your time to do your research and carefully consider.

    Online romance scams are another way people are getting defrauded. They’ve evolved to where they’re asking you to “invest” in crypto together. If your new online crush is giving you financial advice or asking for cash, it’s most likely fraud.

    Crypto scammers are great actors. They’ll pretend to be Amazon, your bank, the IRS, or even your local utility company. They’ll say there’s fraud, a legal issue, or an emergency, but the “solution” always involves sending crypto to some wallet they control. Sometimes they’ll stay on the phone and walk you through it, like the case at Cumberland Farms.

    If you suspect you’ve fallen victim to fraud, report it to the U.S. Securities and Exchange Commission, the CFTC and your local law enforcement.

    What to read next

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

  • I’m 38, lost my job last week, and my basement just got flooded — which will cost me a depressing $20,000. My parents don’t have money to lend me. Is taking out a HELOC my only option?

    One of the biggest risks that come with owning a home is the potential for emergency repairs. And while there’s never an ideal time to be hit with an urgent reno that’ll cost you thousands, these emergencies have a knack for popping up at the worst of times.

    Let’s say, for example, that you’re 38 years old and you were recently laid off due to company downsizing. You’re in the process of looking for a new job when, out of nowhere, a pipe bursts and your basement is flooded.

    Don’t miss

    You’ve always been financially responsible, and you’ve paid off more than half of your mortgage. But mortgage payments and saving for retirement has made it tough for you to save money for emergencies. And since pipe bursts that lead to flooding often require extensive repairs, you’re now staring at a $20,000 emergency expense at a time when you don’t have a stable income.

    You’re in a jam, and you’ll likely need to borrow money to pay for this emergency renovation. Making matters worse, your parents don’t have any money that they can loan to you.

    One of the options that you may consider is a Home Equity Line of Credit (HELOC), which allows you to use the equity you’ve built in your home to borrow money. But here’s the big question: should you take out a HELOC while you’re unemployed, or is that a dangerous decision considering you don’t currently have a steady income?

    Let’s get into whether a HELOC is a good decision for you.

    What is a HELOC?

    A HELOC is a line of credit that lets you borrow money against the equity you’ve built in your home, usually up to 85% of your home’s appraised value, minus what you still owe on your mortgage.

    You can draw from it as needed during what’s called the “draw period” (typically five to 10 years) and during that time, you only have to make interest payments. After that, you enter the “repayment period,” when you start paying back both the principal and interest.

    If you already have a HELOC open and you’re confident that you can find employment within a few months, using it might make sense, especially for urgent home repairs. But if you’d need to apply for one while unemployed, this might not be the best strategy — unless you can prove to the lender that you have alternative income or savings.

    In that case, it may be time to consider alternatives. Let’s walk through the pros and cons of a HELOC in this situation.

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    HELOC: Lifeline or landmine?

    When you’re staring down an unexpected $20,000 home repair with limited savings, a HELOC can look like a solid financial lifeline. But you should do your homework before acting on this option.

    The pros

    One of the biggest perks is that interest rates are usually much lower than what you’d get with a credit card or personal loan, especially if you have good credit. That alone can save you a chunk of change over time.

    HELOCs also offer flexibility that most loans can’t match because you’re not forced to borrow a big lump sum all at once. Instead, you can draw what you need, when you need it.

    There’s also a potential tax break in play. If the funds go toward qualified home improvements, the interest might be deductible come tax time. Not everyone qualifies and the IRS rules can change, so it’s worth running this perk by a tax professional to see if you qualify.

    Don’t forget that this is equity you’ve already built. Instead of racking up high-interest credit card debt, you’re tapping into an asset you own. In some cases, that can be a smarter way to ride out a rough financial patch.

    But it’s also important to understand the risks.

    The cons

    If you’re unemployed and don’t already have a HELOC in place, getting one approved could be tough. Lenders usually want proof of reliable income before handing over access to your home’s equity. Without that, you could get turned down or face higher interest rates as well as stricter repayment terms.

    And of course, a HELOC is backed by your home, so if things don’t work out — such as borrowing more than you can handle or your job search takes longer than expected — you could risk losing your house.

    There’s also the matter of variable interest rates. Most HELOCs don’t come with a fixed rate, which means your monthly payments could go up if interest rates rise, which is not ideal when you’re already juggling financial instability.

    While HELOCs can be great in a pinch, they’re not a replacement for long-term financial stability. They can buy you some time, but they won’t solve the bigger picture if income doesn’t come back into the equation soon.

    If using a HELOC feels like stepping into risky territory, you’re not completely out of luck. There are other ways to handle financial emergencies without putting your house on the line.

    Alternatives for borrowing money in a pinch

    If your credit is in good shape, you might qualify for a credit card with a 0% introductory annual percentage rate (APR). That could give you a year or more to pay for the repairs without accruing interest, but the key is to be sure that you have a plan to pay off the balance before the promotional period ends.

    Credit unions are another option worth exploring, as they tend to be more flexible with personal loans than traditional banks and often offer better rates. If you are a member with a credit union or have a local branch nearby, start there.

    Depending on where you live, there may be government or nonprofit programs available to help cover emergency home repairs, especially for issues like leaks, water damage or mold. These programs often support veterans, American Indian or Alaska Natives, those with limited income and residents of rural areas.

    Picking up temporary or gig work can also be helpful as it can improve your standing with lenders. Even a modest stream of income is better than no income when you’re trying to qualify for financial loans.

    Using a HELOC to weather a financial storm isn’t necessarily a bad idea if you already have one open and feel confident about landing a job soon. In that case, borrowing modestly to keep your home in working order could be a smart, cost-effective move.

    But trying to open a new HELOC while unemployed? That’s a much riskier path. Without income, lenders may shut the door on you. And even if you happen to get approved for a HELOC, it could put your most valuable asset — your home — in jeopardy, especially if your financial situation doesn’t bounce back in time.

    When it comes to deciding on a HELOC, weigh your options and consider speaking to a financial advisor before making any big decisions.

    What to read next

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

  • The world’s ultra-rich including Musk, Zuckerberg, and Bezos added $2 trillion to their vaults this year — steal these 6 money-boosting moves now and ride along for the next big jump

    The world’s ultra-rich including Musk, Zuckerberg, and Bezos added $2 trillion to their vaults this year — steal these 6 money-boosting moves now and ride along for the next big jump

    The 39th annual Forbes billionaire list is out, and it’s a jaw-dropper.

    The number of billionaires has surged to 3,028, a record. Together, these individuals hold a staggering $16.1 trillion, up $2 trillion from last year.

    Don’t miss

    More than 100 Forbes reporters dove deep into financial data to assemble this list, including stocks, investments, and cash flows, along with more eccentric billionaire purchases like yachts, art collections and even dinosaur bones.

    The U.S. holds first place with 902 billionaires, followed by China and Hong Kong (516), and India (205). The wealthiest are led by Elon Musk, with $342 billion, followed by Mark Zuckerberg at $216 billion, and Jeff Bezos at $215 billion. Rounding out the top 10 are heavyweights like Warren Buffett, Larry Ellison, and Bernard Arnault.

    In short, the billionaire game is booming. Want in on the action? You might want to take notes from the world’s richest.

    ‘It’s a great time to be a billionaire’

    According to Forbes senior editor Chase Peterson-Withorn, the rise in billionaire wealth isn’t just about tech giants and luxury brands; it’s about how much power these individuals hold.

    “It’s a great time to be a billionaire,” Peterson-Withorn recently told NPR’s Morning Edition.

    To arrive at these figures, Forbes determines the annual list by tracking every asset, minus any debts. And if a billionaire doesn’t spill the beans themselves, Forbes digs through legal filings, offshore accounts and leaks to get the scoop.

    This year, 288 new names have joined the ranks of the world’s billionaires. Among them are celebrities like Bruce Springsteen ($1.2B), Arnold Schwarzenegger ($1.1B), and Jerry Seinfeld ($1.1B).

    Also on the list are crypto mogul Justin Sun ($8.5B), along with AI entrepreneurs from companies like Anthropic, CoreWeave, and DeepSeek. The food world is well-represented, with moguls behind popular chains like Cava, Chipotle, Jersey Mike’s, and Zaxby’s.

    Topping the list of newcomers is Marilyn Simons, who inherited a $31 billion fortune following the passing of her husband, hedge fund legend Jim Simons, in 2024.

    But not every billionaire had a good year.

    Over 100 names dropped off the 2024 list, no longer rich enough to make the cut. Some notable exits include Lisa Su, CEO of semiconductor giant AMD, Sara Liu, co-founder of server company Supermicro and Nicholas Puech, heir to the Hermès luxury brand, who says his fortune has disappeared.

    "A lot of billionaires don’t have great reputations these days," Peterson-Withorn said, "but on the other hand, they’re more powerful than ever."

    There may be some backlash against the billionaires on the Forbes list, but that doesn’t mean there aren’t some lessons to be learned about investing from some of the world’s wealthiest individuals.

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    How to invest like a billionaire

    You don’t need unlimited wealth to invest like a billionaire. The ultra-wealthy use strategy, smart decisions and balancing risk and reward to get ahead. Here’s how you can do the same.

    Diversify across asset classes

    Ultra-high-net individuals spread their wealth across everything from stocks and real estate to private equity and bonds; in other words, diversifying is key. This reduces risk while increasing the chances for steady, long-term growth. For regular investors, diversifying with exchange-traded funds (ETFs) or mutual funds covering domestic and international markets is a good start. And don’t forget bonds for stability during market ups and downs.

    Consider real estate investing

    Real estate is another billionaire favorite. While they may invest in expensive commercial or luxury residential properties, you can get in the game through real estate investment trusts (REITs).

    Keep a long-term mindset

    The super wealthy don’t chase trends — they think decades ahead. Want to build wealth? Max out contributions to retirement accounts like 401(k)s and IRAs. These tax-advantaged accounts let your money compound over time.

    Manage your risk

    While billionaires love high returns, they’re pros at managing risk, and you can do the same by building an emergency fund. Having liquid cash in your account ensures you’re not forced to sell investments during a market slump. A simple buffer can keep you secure while you wait for the market to bounce back.

    Leverage AI-powered investing tools

    Wealthy investors leverage technology by using AI-powered predictions, algorithmic trading and cutting-edge tools to stay ahead. You don’t need billions to tap into this power. Robo-advisors can help automate your portfolio management based on your goals to help you make smarter investment decisions.

    Invest in alternative assets

    Many high-net-worth individuals invest in alternative assets such as commodities and fine art to round out their portfolios. Commodities like gold and silver can be hedges against inflation and market volatility. And while not highly liquid, collectibles, artwork or vintage cars can offer diversification and the potential for substantial returns.

    Investing like a billionaire isn’t about having a billion-dollar portfolio. It’s about following the basics, diversifying across asset classes and thinking long-term. Leverage technology, manage your risks and stay patient. Whether it’s real estate, stocks or commodities, billionaire strategies can help set you on the path to financial success. Of course, always consult a financial advisor and do the proper research before you dive into any new investment.

    What to read next

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