Author: Jing Pan

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

When it comes to collisions, not all vehicles are created equal.

A new report from Insurify reveals the top car models with the highest accident rates in the U.S.

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Topping the list is the Kia Soul EV, with an accident rate of 15.14% in 2024.

Coming in next are the Mazda Mazdaspeed 3 (12.57%), Chevrolet Bolt EUV (11.75%), Jeep Wrangler Unlimited (11.74%) and Volkswagen ID.4 (11.68%).

Rounding out the top 10 are the Jeep Wrangler/YJ (11.64%), Hyundai Ioniq Hybrid (11.44%), Chevrolet Bolt EV (11.40%), RAM 2500 (11.21%) and Chrysler Voyager (11.21%).

At first glance, it might be tempting to conclude that certain manufacturers produce more accident-prone vehicles. After all, four of the top 10 models — two Jeeps, one RAM and one Chrysler — are made by Stellantis North America (formerly Chrysler).

But that pattern doesn’t tell the whole story.

Another Stellantis brand, Dodge, had the second-lowest average accident rate among all manufacturers in 2024, at just 6.82% — suggesting that brand alone isn’t a clear predictor of crash risk.

Why some cars get into more accidents than others

The Insurify report doesn’t offer specific reasons why certain vehicles have higher accident rates, but there are several well-known factors that could contribute.

For example, the type of vehicle matters. According to National Highway Traffic Safety Administration data cited in the report, light trucks — a category that includes vans, SUVs and pickups — accounted for 43.2% of crashes in 2022, while passenger cars were involved in 38.1%.

Other contributing factors could include vehicle design and size, the presence of modern safety features and driver demographics and habits.

Some newer vehicles come equipped with advanced safety systems — like automatic emergency braking and lane departure warning — which can help avoid collisions. But at the same time, the abundance of high-tech features, such as large infotainment screens, might also increase distraction behind the wheel.

Electric vehicles (EVs) made a strong showing near the top of the accident-rate rankings. In addition to the Kia Soul EV, both the Chevrolet Bolt EUV and Bolt EV, as well as the Volkswagen ID.4, made the top 10.

Marcus Lu at Visual Capitalist suggests one possible explanation: instant torque.

“A likely reason for [the high number of EVs on the accident-prone list] could be the way electric motors deliver instant torque, which may surprise drivers who are used to the more gradual power curve of gasoline engines,” he wrote in an analysis of Insurify’s report.

Lu also cited a 2024 study from the University of Limerick showing that EVs are 4% more likely to be involved in an at-fault insurance claim compared to internal combustion engine vehicles.

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

Why accident data matters for your insurance rate

Cars with higher accident rates often cost more to insure — not necessarily because the car itself is more dangerous, but because insurers look at risk data when setting premiums.

But the make and model are just part of the equation. Your location, age and driving history all factor into your car insurance cost.

According to Insurify, Massachusetts had the highest accident rate of any U.S. state in 2024, at 6.07%, while Michigan had the lowest, at 1.68%.

Age also plays a major role. Generation Z drivers had the highest accident rate in 2024, at 6.84%, while baby boomers had the lowest, at 3.12% — which helps explain why younger drivers face steeper insurance premiums.

How to lower your insurance bill

Car insurance rates have been on the rise, and many people overpay without realizing it. According to Forbes, the average cost of full-coverage car insurance is $2,149 per year (or $179 per month).

However, rates vary widely based on a range of factors — including many mentioned above — and you could be paying more than necessary.

By using OfficialCarInsurance.com, you can easily compare quotes from multiple insurers, such as Progressive, Allstate and GEICO, to ensure you’re getting the best deal.

In just two minutes, you could find rates as low as $29 per month.

And it’s not just your car that might be costing you more than it should. Home insurance is another major expense where smart shoppers can save big.

With OfficialHomeInsurance, comparing home insurance rates is fast and hassle-free. Just enter a few basic details and the platform will instantly sort through over 200 insurers to find you the best deals available in your area.

You’ll be able to review all your offers in one place, and quickly find the coverage you need for the lowest possible cost, saving an average of $482 a year.

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

President Donald Trump’s sweeping tariffs have sent shockwaves across the globe, as he attempts to rein in the massive trade deficits the U.S. has with other nations.

While many economists have criticized Trump’s blunt approach — and markets have reacted poorly — the issue he’s targeting is far from trivial. While the president has since gone back and forth on levying the tariffs, legendary investor Warren Buffett has been sounding the alarm on America’s growing trade deficit for decades.

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Back in 2003, Buffett wrote a Fortune article with the striking title: “America’s Growing Trade Deficit Is Selling The Nation Out From Under Us. Here’s A Way To Fix The Problem — And We Need To Do It Now.” In it, he issued a stark warning about the long-term risks of persistent trade imbalances.

A trade deficit occurs when a country imports more than it exports. While that might sound harmless, Buffett warned that over time it leads to something far more serious: a steady transfer of national wealth to foreign hands.

To drive the point home, he introduced a parable involving two fictional islands: Thriftville, whose industrious citizens produce more than they consume and export the surplus, and Squanderville, whose inhabitants consume more than they produce, financing their excess consumption by issuing IOUs to Thriftville.

Over time, Thriftville accumulates substantial claims on Squanderville’s future output, leading to a scenario where Squanderville’s citizens must work harder just to repay the debt, effectively becoming economically subservient to Thriftville.

Buffett took the analogy further, warning that Thriftville’s citizens might lose faith in Squanderville’s IOUs.

“Just how good, they ask, are the IOUs of a shiftless island?” Buffett wrote.

“So the Thrifts change strategy: Though they continue to hold some bonds, they sell most of them to Squanderville residents for Squanderbucks and use the proceeds to buy Squanderville land. And eventually the Thrifts own all of Squanderville.”

Buffett’s central concern was that the U.S. was behaving just like Squanderville — consuming far more than it produced, and becoming increasingly indebted to the rest of the world.

He warned that, at the trade deficit level at the time, foreign ownership of U.S. assets would “grow at about $500 billion per year.” As that ownership increases, he cautioned, so too will the net investment income flowing out of the country.

“That will leave us paying ever-increasing dividends and interest to the world rather than being a net receiver of them, as in the past,” he wrote. “We have entered the world of negative compounding — goodbye pleasure, hello pain.”

That was more than two decades ago. But Buffett’s warning still resonates today. By the end of 2024, the U.S. net international investment position had plunged to -$26.2 trillion — meaning foreign investors now own over $26 trillion more in U.S. assets than Americans own abroad.

Buffett’s market-based fix: a ‘tariff called by another name’

Buffett proposed a bold fix: a concept he calls the “Import Certificate” system — a market-based solution to reduce the U.S. trade deficit.

Here’s how it works:

Exporters earn certificates — For every dollar an American company earns by exporting goods or services, it receives an Import Certificate of equal value.

Importers must buy certificates — To bring goods into the U.S., importers must purchase these certificates from exporters.

This effectively limits total imports to the value of exports, achieving trade balance. It also creates a powerful financial incentive to export, since companies can sell their certificates on the open market to importers.

How does Buffett’s idea compare to the sweeping tariffs currently being implemented by Trump?

Buffett himself acknowledged that, “in truth,” his import certificate system is “a tariff called by another name.” But he was quick to note that it avoids the typical pitfalls of traditional tariffs — namely, industry favoritism, geopolitical tension, and the risk of escalating trade wars.

“This is a tariff that retains most free-market virtues, neither protecting specific industries nor punishing specific countries nor encouraging trade wars,” he wrote. “This plan would increase our exports and might well lead to increased overall world trade. And it would balance our books without there being a significant decline in the value of the dollar, which I believe is otherwise almost certain to occur.”

In other words, Buffett’s proposal is designed to nudge markets toward equilibrium — not to punish America’s trading partners.

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‘The best thing to do’ for everyday investors

While Buffett’s solution was never implemented, it’s clear that investors haven’t responded well to Trump’s version. Markets around the world have tumbled in the wake of his tariff announcements, with the sell-off wiping out trillions of dollars in global equity value.

And while headlines are dominated by recession fears and rising geopolitical tensions, Buffett has consistently emphasized one unwavering belief — his confidence in America.

“American business — and consequently a basket of stocks — is virtually certain to be worth far more in the years ahead,” Buffett wrote in his 2016 letter to shareholders.

That same optimism carried through in his 2022 letter:

“I have yet to see a time when it made sense to make a long-term bet against America. And I doubt very much that any reader of this letter will have a different experience in the future.”

When it comes to individual investors, Buffett’s advice is as simple as it is enduring.

“In my view, for most people, the best thing to do is own the S&P 500 index fund,” he famously stated. This straightforward approach gives investors exposure to 500 of America’s largest companies across various industries, providing diversified exposure without the need for constant monitoring or active trading.

The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time with tools like Acorns — a popular app that automatically invests your spare change.

Signing up for Acorns takes just minutes: simply link your cards, and Acorns will round up each purchase to the nearest dollar, investing the difference — your spare change — into a diversified portfolio. With Acorns, you can invest in an S&P 500 ETF with as little as $5 — and, if you sign up today, Acorns will add a $20 bonus to help you begin your investment journey.

While investing in an index fund is straightforward, some investors may want guidance on building a portfolio tailored to their specific financial goals. That’s where a professional can help.

With Advisor.com, you can find the best advisor for your needs — both in terms of what they can offer your finances, and what they’ll charge to work for you.

Advisor.com is a free service that helps you find a financial advisor who can co-create a plan to reach your financial goals. By matching you with a curated list of the best options for you from their database of thousands, you get a pre-screened financial advisor you can trust.

You can then set up a free, no obligation consultation to see if they’re the right fit for you.

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• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

From classic muscle cars to high-end European rides, Grammy-winning rapper 2 Chainz is no stranger to big splurges.

But beyond the flashy impulse purchases, he’s also been making some smart money moves behind the scenes.

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In a recent episode of the Club Shay Shay podcast, host and Super Bowl champion Shannon Sharpe asked 2 Chainz to name some of his wildest purchases.

“I think I bought a [Rolls Royce] Phantom and a Maybach,” 2 Chainz told Sharpe.

“Damn, that is $800,000!” replied Sharpe, stunned by the sheer size of the purchase.

But 2 Chainz insists there’s a method to the madness: “Every time I do something stupid, I try to balance it out,” he said.

What does he use to balance it out? Real estate.

“As soon as I go buy a couple of chains, I would hit the girl that’s handling my real estate business and tell her, ‘Can you send me some properties to look at?’” he explained.

The veteran rapper noted that artists who suddenly come into wealth often spend freely on “stupid stuff” — from cars to jewelry. But eventually, the conversation would shift to passive income and investments.

For 2 Chainz, real estate is a no-brainer — having spent hours in the studio just scrolling through property listings.

“I’m a property hoarder,” he told Sharpe. “I be getting penalized, but it’s my dirt and I know they don’t make no more dirt.”

‘They don’t make no more dirt’

As 2 Chainz points out, one of the core truths about real estate is just how scarce it can be.

You can’t create land out of thin air — and buildable land is even harder to come by.

Even Federal Reserve Chair Jerome Powell acknowledged at a press conference last year that the real problem behind America’s housing crisis is simple: “We have had, and are on track to continue to have, not enough housing.”

An analysis by Zillow published in June 2024 estimated the U.S. housing shortage to be 4.5 million homes.

That supply-demand imbalance may help explain why home prices continue to climb. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has surged by more than 50%.

But, these days, you don’t need to be as wealthy as 2 Chainz to start investing in real estate. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class.

Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.

The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase, and then sit back as you start receiving rental income deposits from your investment.

Another way to go is Homeshares, which gives accredited investors access to the $35 trillion U.S. home equity market, according to Federal Reserve data — a space that’s historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headache of buying, owning or managing property.

With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

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

A finer alternative

Beyond real estate, the ultra-wealthy are also known to hoard fine art — and it’s easy to see why.

The supply of truly great works is limited, and many famous pieces have already been snatched up by museums and collectors. Art also has a low correlation with stocks and bonds, which helps with diversification, according to a recent Deloitte blog post.

In 2022, a collection of art owned by the late Microsoft co-founder Paul Allen sold for $1.5 billion at Christie’s New York, making it the most valuable collection in auction history.

Investing in art was traditionally a privilege reserved for the ultra-wealthy.

Now, that’s changed with Masterworks — a platform for investing in shares of blue-chip artwork by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy. It’s easy to use, and with 23 successful exits to date, every one of them has been profitable thus far.

Simply browse their impressive portfolio of paintings and choose how many shares you’d like to buy. Masterworks will handle all the details, making high-end art investments both accessible and effortless.

Masterworks has distributed roughly $61 million back to investors. New offerings have sold out in minutes, but you can skip their waitlist here.

See important Regulation A disclosures at Masterworks.com/cd

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Two of the world’s richest men are clashing — again.

Microsoft co-founder Bill Gates recently called out Tesla CEO Elon Musk over spending cuts enacted by Musk’s Department of Government Efficiency (DOGE), specifically its decision to shut down the U.S. Agency for International Development (USAID).

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“The picture of the world’s richest man killing the world’s poorest children is not a pretty one,” Gates stated bluntly to the Financial Times.

Musk, whose net worth currently stands at $359 billion according to the Bloomberg Billionaires Index, is the world’s richest person. Gates, who once held that title, is now ranked fifth, with a net worth of $169 billion.

Gates argued that DOGE’s abrupt cuts have left life-saving food and medicine expiring in warehouses and could lead to a resurgence of diseases like measles, HIV and polio. He also criticized Musk for canceling grants to a hospital in Gaza Province, Mozambique, which helps prevent mother-to-child HIV transmission — a move Gates said was based on the mistaken belief that the U.S. was supplying condoms to Hamas in Gaza on the Mediterranean coast.

“I’d love for him to go in and meet the children that have now been infected with HIV because he cut that money,” Gates said.

He also announced plans to give away “virtually” all of his wealth over the next 20 years, pledging that his foundation will spend more than $200 billion on charitable causes during that time.

To be fair, Gates acknowledged in a CNN interview that Musk is a “genius” in some domains — but noted that global health “hasn’t been a focus.” According to Gates, the consequences of Musk’s actions are dire.

“If it was a modest cut and a challenge to be more efficient … I’m fine with that,” he said. “But 80%, that’s going to be millions of deaths, and it’s a mistake.”

Gates is especially alarmed about the impact on children, warning that without strong government support, child mortality rates could climb significantly.

"So we should be going from five million children dying a year over the next five years to four million,” Gates told CBS Mornings. “And now with these cuts, if they’re not reversed, we will go to over six million dying. So, instead of going down, we will go back up."

His remarks came as UNICEF reported that an estimated 4.8 million children under the age of five died in 2023, according to data released in March. The report emphasized that these deaths “are not inevitable,” but rather the result of “unequal access to health care, nutrition, and protection, especially in the most fragile and underserved settings.” If Gates’s projection holds, the shift from four million to six million annual deaths would mean two million additional children dying each year — a reversal of decades of progress.

Gates also cast doubt on Musk’s goal of saving $2 trillion from the federal budget.

“I think if you show up and say, in two months, you can cut $2 trillion out of a $7 trillion budget, you’re not going to succeed,” he said.

As of May 11, DOGE claims total estimated savings of $170 billion, according to its website. However, a BBC analysis published on April 23 found that of the $160 billion in savings DOGE claimed just days earlier, only $61.5 billion had been itemized.

Meanwhile, Musk appears to be stepping back from his involvement with DOGE. During Tesla’s April earnings call, he told investors that starting in May, he would devote “far more” of his time to Tesla, while his time allocation to DOGE would drop significantly.

Some of Gates’s criticism has reached Musk. Responding to a video clip posted on X where Gates warned about rising child mortality due to the budget cuts, Musk fired back: “Gates is a huge liar.”

Musk has previously criticized Gates for taking a short position against Tesla — a trading strategy in which an investor bets a stock will fall by borrowing shares, selling them and repurchasing them later at a lower price. In a fiery post on X in 2023, Musk called out the “hypocrisy” of Gates for asking him to donate to what he described as “mostly window-dressing environmental causes,” while at the same time trying to profit from Tesla’s downfall.

“Taking out a short position against Tesla, as Gates did, results in the highest return only if a company goes bankrupt!” Musk wrote. “Gates placed a massive bet on Tesla dying when our company was at one of its weakest moments several years ago. Such a big short position also drives the stock down for everyday investors.”

Whichever side you’re on, the feud underscores a broader point: while cutting waste is important, doing so without understanding where the money goes — or what’s at stake — can have serious consequences.

Tracking where $7 trillion in government spending goes and deciding what truly counts as “waste” is a complex task. But when it comes to your own finances, spotting waste is a lot easier. Here are three simple ways to cut financial fat in 2025 — and beyond.

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

1. Stop overpaying for car insurance

Car insurance is a major recurring expense, and many people overpay without realizing it. According to Forbes, the average cost of full-coverage car insurance is $2,149 per year, or about $179 per month.

But rates can vary widely depending on your state, driving history and vehicle type. You could be paying more than necessary.

Instead of sticking with the same provider, you can try taking a few minutes to compare quotes from multiple insurers to ensure you’re getting the best deal.

2. Stop wasting money on bank fees

Bank fees can quietly drain your finances over time. Even comedian Bill Burr once complained to Joe Rogan about his bank taking $28 out of his account every month “for no reason.”

In reality, many traditional banks charge anywhere from $5 to $35 per month in maintenance fees, overdraft fees and other hidden charges.

Online banks, on the other hand, typically offer lower fees (or none at all) since they don’t have the same overhead costs as brick-and-mortar institutions.

Many online banks also offer high-interest checking and savings accounts, allowing you to earn more on your idle cash while avoiding costly fees.

3. Slash utility bills without sacrificing comfort

Monthly utility bills — electricity, water and heating — can add up fast, but small changes can lead to big savings over time.

You can switch to LED light bulbs, unplug devices when they’re not in use and use smart thermostats to cut heating and cooling costs. According to the U.S. Department of Energy, simply switching to LED lighting can save the average household about $225 per year in energy costs.

You might also want to consider air sealing your home and adding insulation. The U.S. Environmental Protection Agency estimates that by doing so, homeowners can save about 15% on heating and cooling costs, or an average of 11% on their total energy costs.

What to read next

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• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Robert Kiyosaki, author of Rich Dad, Poor Dad , has been predicting dark clouds for the U.S. stock market for over a year, saying that when the storm hits, one generation will feel the brunt of it.

“BOOMERS are SOL: When the stock market bursts … BOOMERS will be BIGGEST LOSERS,” Kiyosaki posted on X, in December 2024.

In the wake of recent stock market turmoil, Kiyosaki didn’t hesitate to say I told you so.

“That stock market crash arrived today. We are definitely in a RECESSION and more than likely…a DEPRESSION,” he wrote in an X post April 4, 2025.

However, the controversial speaker and author went on to write that there’s a chance for investors to turn this crisis into an opportunity – if they play their cards right.

“Take care and make this recession the best thing that has ever happened to you,” he wrote. “You and only you have that power.”

Here are some of the investments Kiyosaki recommends.

Bitcoin

Bitcoin has been another standout performer in 2024, rising approximately 121% year-to-date.

On November 29, 2024, Kiyosaki predicted, “Bitcoin will soon break $100,000.” On December 4, 2024, cryptocurrency surpassed that milestone, grabbing headlines worldwide.

But Kiyosaki doesn’t see US$100,000 as the end of the road. In a November 24, 2024 post, he posted a bold projection: “Q: what is the price of Bitcoin in 2025? A: $500,000 according to AI.” He did not specify which artificial intelligence model informed this prediction, but the ambitious target has certainly sparked interest.

One reason Bitcoin attracts crypto enthusiasts is its built-in scarcity, often likened to digital gold. Like gold, Bitcoin can’t be printed at will by central banks. Instead, Bitcoin volume is capped at 21 million by mathematical algorithms.

Kiyosaki has warned that once Bitcoin crosses US$100,000, it will become “almost impossible for the poor and middle class to catch up.”

He attributes this to the dominance of ultra-rich entities — such as corporations, banks and sovereign wealth funds — who will be the only ones able to acquire Bitcoin in significant amounts.

“The horse will be out of the barn and running,” he wrote, urging people to act now. “Don’t let the rich get richer … without you.”

Trade and stake coins with Canada’s first regulated crypto platform. Plus, get a $25 cash bonus when you open and fund your first Wealthsimple account through this page and fund with at least a $1 within 30 days. T&Cs apply.

Real estate — revisited

“Your house is not an asset” is one of Kiyosaki’s most well-known ideas. “What is the definition of the word? If it puts money in my pocket, it’s an asset. If my house is taking money from my pocket, it’s a liability,” he explained.

The Rich Dad website expands on this concept, pointing out that owning the home you live in often takes money out of your pocket in the form of mortgage payments, utilities, taxes and maintenance costs.

Rental properties, however, are a different story.

According to the website, when purchased and managed wisely, rental properties can generate “significant, regular cash flow.” Additionally, increases in rents and property values over time can create “an important supplementary revenue stream.” While all investments carry some level of risk, cash-flowing properties are “generally less subject to the daily ups and downs” of the market compared to other types of investments.

Perhaps that’s why Kiyosaki once disclosed he owns 15,000 houses — strictly for investment purposes.

The good news is you don’t need to be as wealthy as Kiyosaki to get started in real estate investing.

If you choose passive investing in REITs, real estate ETFS and mutual funds, you can invest for as little as the share price, as opposed to more active investments like purchasing a property you intend to live in, which will require you to make a down payment.

Get Started: To get started investing in real estate using REITs, open a trading account. Consider building your investment portfolio with CIBC Investor’s Edge online and mobile trading platform. Enjoy low commissions plus get up to $100 in commission-free equity trades† when you open a CIBC Investor’s Edge account using promo code EDGE100. Conditions apply.

Precious metals

Kiyosaki has been a vocal proponent of silver and gold for decades.

In October 2023, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop gold $3,700.”

That forecast has gained traction. Gold prices surged in 2025, now standing at about CAD$4,562.87 per ounce.

Silver and gold have long been considered popular hedges against inflation. The reason is simple: Central banks can’t print precious metals in unlimited quantities like fiat money.

Kiyosaki revealed that he has been purchasing gold and silver mines since 1985 and now he “literally owns tons of gold and silver.”

Sources

1. Au Bullion: Gold Price Today Per Ounce – Live Gold Price

2. Bankrate: Bitcoin’s price history: From its 2009 launch to its 2025 heights, by James Royal (Apr 29, 2025)

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

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Many Americans have felt the sting of rising prices over the past few years. Now, millions are set to receive a surprise boost to their bank accounts — part of a multibillion-dollar effort to ease inflation’s impact. But the money is only going to residents of one state: New York.

As part of the state’s fiscal 2026 budget agreement, Gov. Kathy Hochul announced that New York will send out “inflation refund checks” totaling $2 billion to more than 8 million taxpayers.

“The cost of living is still too damn high, so I promised to put more money in your pockets — and we got it done,” Hochul said in a news release.

It’s explained in the release that while inflation has driven up prices for residents, it has also led to “sharp increases” in the state’s sales tax collections, and “that money belongs to hardworking New York families and should be returned to their pockets as an inflation refund.”

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So, how much will New Yorkers get?

It depends on their filing status and income. Joint tax filers earning up to $150,000 will receive a $400 check, while those earning between $150,000 and $300,000 will get $300. Single filers with incomes up to $75,000 will receive $200, and those earning between $75,000 and $150,000 will receive $150.

No application is required. Payments will be sent automatically based on residents’ 2023 tax filings starting in the fall.

While only New Yorkers will receive these inflation refund checks, savvy investors have long used other tools to protect their money from inflation’s bite. Here’s a look at three time-tested strategies.

A classic safe haven

When it comes to preserving wealth and fighting inflation, few assets have stood the test of time like gold. Its appeal is simple: unlike fiat currencies, the yellow metal can’t be printed at will by central banks.

Gold is also considered the ultimate safe haven. It’s not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

That may help explain why, while markets are getting whipsawed by tariff uncertainty and global tensions, gold has emerged as a bright spot. Over the past 12 months, the price of the precious metal has surged by more than 30%.

Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, recently highlighted gold’s role in a resilient portfolio.

“People don’t have, typically, an adequate amount of gold in their portfolio,” Dalio told CNBC in February. “When bad times come, gold is a very effective diversifier.”

Opting for a gold IRA gives you the opportunity to hedge against market volatility by allowing you to invest directly in physical precious metals rather than stocks and bonds.

If you’d like to convert an existing IRA into a gold IRA, companies typically offer 100% free rollover. Others might offer free gold, silver or other metals up to a certain amount when you make a qualifying purchase.

You can check out the Moneywise list of industry-leading companies offering gold IRAs here.

Compare offers instantly and request a free information guide to help you understand how to diversify your portfolio and secure your retirement fund.

A time-tested income play

Real estate has also proven to be a powerful hedge. When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation.

Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has jumped more than 50%, reflecting strong demand and limited housing supply.

Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn’t exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns). The good news? You don’t need to buy a property outright — or deal with leaky faucets — to invest in real estate today.

One option is Homeshares, which gives access to the $30-plus trillion U.S. home equity market — a space that has historically been the exclusive playground of institutional investors. With a minimum investment of $25,000, accredited investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord.

With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties.

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

A finer alternative

It’s easy to see why great works of art tend to appreciate over time. Supply is limited and many famous pieces have already been snatched up by museums and collectors. Art also has a low correlation with stocks and bonds, which helps with diversification.

In 2022, a collection of art owned by the late Microsoft co-founder Paul Allen sold for $1.5 billion at Christie’s New York, making it the most valuable collection in auction history.

Investing in art was traditionally a privilege reserved for the ultra-wealthy. Now, that’s changed with Masterworks — a platform for investing in shares of blue-chip artwork by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy. It’s easy to use, and with 23 successful exits to date, every one of them has been profitable thus far.

Simply browse their impressive portfolio of paintings and choose how many shares you’d like to buy. Masterworks will handle all the details, making high-end art investments both accessible and effortless.

Masterworks has distributed roughly $61 million back to investors across their 23 exits. New offerings have sold out in minutes, but you can skip their waitlist here. See important Regulation A disclosures at Masterworks.com/cd.

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Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

As summer grilling season kicks off, Americans may be in for a costly surprise at the meat counter.

Beef prices are climbing — and the latest government data confirms it. According to the Consumer Price Index from the Bureau of Labor Statistics, U.S. beef and veal prices have jumped 8.6% over the past year. Ground beef surged 9.9%, beef roasts rose 9.5% and beef steaks were up 6.3%.

Omaha Steaks President and CEO Nate Rempe says the problem boils down to supply.

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“The number of head of cattle in the United States is at a low, really not seen since the 1950s. In fact, it’s wild,” Rempe recently told Fox Business.

As of Jan. 1, 2025, there were 86.7 million head of cattle and calves on U.S. farms, according to the Department of Agriculture — the lowest count since 1951.

With domestic beef demand still strong, Rempe warned that tight supply is “putting a lot of upward pressure” on prices — and it won’t be resolved overnight.

“Supply is a tricky issue. You can’t just flip a switch [or] adjust a tariff. We need to rebuild the herd, and that’s going to happen over the next roughly 12 months. My guess is by Q3 [20]26 we’ll kind of start to come out of this,” he said in the interview with Fox.

Beef isn’t the only grocery item getting more expensive. The food index from the CPI has surged 26% over the past five years, and the USDA expects food prices to rise another 2.9% in 2025.

To be sure, headline inflation has cooled from its 40-year high of 9.1% in June 2022. But the cost of essentials like food and housing remains persistently high.

Fortunately, history has shown that savvy investors and consumers can take steps to protect themselves from inflation’s impact.

Real estate

When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation.

This combination makes real estate an attractive option for preserving and growing wealth when the U.S. dollar is losing its value.

Over the last five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has surged by more than 50%.

Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn’t exactly hands-off work. Managing tenants, maintenance and repairs can quickly eat into your time (and returns). The good news? You don’t need to buy a property outright — or deal with leaky faucets — to invest in real estate today.

For accredited investors, Homeshares gives access to the $35 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

If you’re not an accredited investor, crowdfunding platforms like Arrived allow you to enter the real estate market for as little as $100.

Arrived offers you access to shares of SEC-qualified investments in rental homes and vacation rentals, curated and vetted for their appreciation and income potential.

Backed by world-class investors like Jeff Bezos, Arrived makes it easy to fit these properties into your investment portfolio regardless of your income level. Their flexible investment amounts and simplified process allows accredited and non-accredited investors to take advantage of this inflation-hedging asset class without any extra work on your part.

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

Gold

Gold has helped preserve wealth for thousands of years — and it remains just as relevant today, especially in the face of modern inflation.

One key reason? Unlike fiat currency, gold can’t be created out of thin air by central banks.

It’s also long been viewed as a classic safe haven. Gold isn’t tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

Over the past 12 months, the price of the precious metal has surged by more than 40%.

Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, recently highlighted gold’s importance as part of a resilient portfolio.

“People don’t have, typically, an adequate amount of gold in their portfolio,” he told CNBC in February. “When bad times come, gold is a very effective diversifier.”

Opting for a gold IRA gives you the opportunity to hedge against market volatility by allowing you to invest directly in physical precious metals rather than stocks and bonds.

If you’d like to convert an existing IRA into a gold IRA, companies typically offer 100% free rollover. Others might offer free gold, silver or other metals up to a certain amount when you make a qualifying purchase.

You can check out the Moneywise list of industry-leading companies offering gold IRAs here.

Compare offers instantly and request a free information guide to help you understand how to diversify your portfolio and secure your retirement fund.

Farmland

The steady rise in food prices serves as a powerful reminder: no matter what happens in the economy, people still need to eat.

That’s why farmland is considered a natural hedge against inflation. As food prices climb, so does the value of the land that produces it. At the same time, farmland is a tangible, income-generating asset that isn’t directly tied to the ups and downs of financial markets.

According to the USDA, U.S. farmland values have steadily climbed over the past few decades, driven by increasing demand for food and limited supply of arable land.

These days, you don’t need to buy an entire farm or know how to grow crops to get in on the opportunity.

FarmTogether is an all-in-one investment platform that lets qualified investors buy stakes in U.S. farmland. The platform identifies high-potential agricultural properties and then partners with experienced local operators to manage the land effectively.

Depending on the type of stake you want, you can potentially get a cut from both the leasing fees and crop sales. Then, years down the line, you can benefit from appreciation and profit from its sale.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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