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.

President Donald Trump says tariffs could deliver a financial windfall for everyday Americans — by wiping out their income taxes.

“When tariffs cut in, many people’s income taxes will be substantially reduced, maybe even completely eliminated,” Trump declared in a Truth Social post on April 27. “Focus will be on people making less than $200,000 a year.”

That’s a bold promise, especially considering that only 14.4% of U.S. households earned more than $200,000 annually in 2023, according to Census Bureau data. In other words, if Trump’s vision holds true, the vast majority of Americans would pay no income tax at all.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

But don’t celebrate just yet. While Trump is optimistic, experts say the math simply doesn’t add up.

Economists Erica York and Huaqun Li of the Tax Foundation were blunt, explaining in a response on April 28 that “the individual income tax raises more than 27 times as much revenue as tariffs currently do,” and “even eliminating income taxes for a subset of taxpayers, such as those earning $200,000 or less, would require significantly higher replacement revenues than tariffs could generate.”

They estimate that the tariffs Trump has imposed and scheduled as of April 2025 would generate nearly $167 billion in new federal tax revenue in 2025 — covering less than 25% of the cost of eliminating income taxes for people earning below $200,000.

While Trump’s proposal faces serious doubts, policy changes aren’t the only route to lowering tax bills. Here are two powerful assets that everyday investors can use to their advantage.

Stocks

Scott Galloway, professor of marketing at New York University’s Stern School of Business, once said that if you’re trying to build wealth, you have “an obligation to pay as little tax as possible.”

His advice? Keep it simple: “You buy stocks, you never sell them, you borrow against them.”

Galloway broke it down with an example: “You own $100 in Amazon stock. You need money to buy something. Instead of selling the stock, and let’s say it’s gone up 50% … You would have to realize a capital gain and pay long-term capital gains [tax] on that $50 gain. No, just borrow against it and let the stock continue to grow.”

This strategy allows investors to tap into the value of their portfolios without triggering a taxable event. Because capital gains are only taxed when realized, borrowing against appreciated assets lets investors access cash while deferring taxes.

Meanwhile, the investments themselves can continue to grow. And since the interest on the loan is often smaller than the tax bill from a sale, this approach can be a powerful tool for preserving and compounding wealth over time.

Of course, not all investors want to pick individual stocks — and you don’t have to. Warren Buffett, one of the most successful investors of our time, recommends a much simpler path: buying a cross-section of the American economy.

“In my view, for most people, the best thing to do is own the S&P 500 index,” Buffett has stated, meaning invest in an S&P 500 index fund. This straightforward approach gives investors exposure to the top American companies on the stock market, 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: 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.

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

Real estate

Real estate has long been a go-to asset for building wealth — and one of the reasons is the generous tax treatment it receives.

When you earn rental income from an investment property, you can claim deductions for a wide range of expenses, such as mortgage interest, property taxes, insurance and ongoing maintenance and repairs.

Real estate investors also benefit from depreciation — a tax deduction that recognizes the gradual wear and tear of a property over time.

Today, you don’t need to be a millionaire or buy property outright to benefit from real estate investing. Crowdfunding platforms like Arrived, for instance, offer an easier way to get exposure to this income-generating asset class.

With Arrived, you can 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 option is Homeshares, which opens the door to the $30-plus trillion U.S. home equity market — a space that was once reserved almost exclusively for 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.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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

The stock market’s ups and downs can rattle even the steadiest investor. While everyone hopes for gains, losses are inevitable. But legendary investor Warren Buffett once offered a refreshing perspective on how to handle those downturns.

“I love it when the things we buy go down. I get euphoric — you know the stocks are down today and I’m buying more of something I was buying yesterday — I’m buying it cheaper,” he said during an October 2014 interview with Fortune Magazine.

Buffett’s approach offers a different way to view those unsettling red numbers in your brokerage account. He likened it to grocery shopping, where finding items at a reduced price is seen as a win. Yet, when it comes to stocks, most investors don’t apply the same bargain-hunting mindset.

“They think that the stock knows more than they do, so that when the stock goes down, they say the stock is telling them something … they take it as kind of a referendum on themselves, me versus the stock: ‘If it ever gets back to what I paid, I’m going to sell it,’” he observed.

A drop in stock prices, for Buffett, signals the chance to get more for his money.

The only question you need to ask

Buffett emphasized that the stock market is indifferent to an individual’s investments, adding that worrying about how a stock performs, relative to its purchase price, is futile.

“Stock doesn’t care what you paid, you have to remember, the stock doesn’t even care that you own it,” he said.

But Buffett acknowledged there’s one question that needs to be asked by investors: Can I get more for my money someplace else?

“You’ve got a chance to be in thousands and thousands of great businesses, and their prices change all the time, so their relative valuations change,” he added.

Indeed, there are thousands of companies listed on North American stock exchanges, and thanks to minimal commission fees, investors can readily shift their capital to where they see the best value.

The significant advantage for modern retail investors, as opposed to historical business magnates, is that they can always shift from one business to another.

“You have a huge advantage over Andrew Carnegie,” Buffett said. “When he was in the steel business, he was in the steel business, or Rockefeller was in the oil business; he could not shift over immediately to retailing.”

This flexibility is starkly contrasted with the monumental effort and resources required for past tycoons to change industries. Today, retail investors can easily diversify or reallocate their investments across different sectors with just a few taps on their brokerage apps, many of which now offer low or zero commission on trades. The apps enhance the agility with which an individual can manage their investment portfolio.

Build your empire

Buffett said he believes that today’s investors have the potential to build their business empires by investing in stocks. But he also cautioned that flexibility can be a double-edged sword; while it allows investors to make swift moves, it can also lead to hasty decisions.

“It’s a huge advantage which people turn into a disadvantage,” he warned, adding that the practice of making investment decisions based solely on stock price movements is misguided. “There is nothing about the price action of the stock that tells you whether you should keep owning (it).”

So, how should investors use this edge? Specifically, what should guide an investor’s decision to sell one stock and buy another?

Buffett explained that the decision to hold onto a stock should depend on what your expectations are for the company’s future performance, as opposed to how much its stock is worth now.

In other words, the decision to hold or sell a stock should not be dictated by its current instabillity but by a thorough analysis of its prospects. Investors should weigh the expected performance of the company against its current market price, and consider how it stacks up against other ventures.

Sources

1. YouTube: Warren Buffett On Investment Strategy | Full Interview Fortune MPW (Oct 7, 2014)

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.

Budget deficits are something we’ve come to expect from Uncle Sam. After all, without years of overspending, the federal government wouldn’t be sitting on trillions of dollars in debt. But, the latest monthly Treasury statement delivered a rare — and welcome — surprise.

In April 2025, the U.S. government collected $850.2 billion in receipts while spending $591.8 billion, resulting in a monthly budget surplus of $258.4 billion.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

That’s not just any surplus — it’s the first monthly surplus of fiscal year 2025 (which began in October 2024), and the second-largest monthly surplus in U.S. history, behind only April 2022’s $308.2 billion surplus.

Does that mean President Trump’s plan is working?

According to the U.S. Department of the Treasury, the surplus was driven by “large individual tax deposits,” with April being the due date for final payments on prior-year taxes and the first installment of quarterly estimated taxes for many individuals and businesses.

Individual income taxes alone brought in $537 billion — by far the biggest contributor to government revenue for April. Social insurance and retirement receipts followed at $184 billion, while corporate income taxes added $94 billion.

Customs duties — a reflection of Trump’s tariffs — generated $15.6 billion in April, more than double the $6.3 billion collected during the same month last year. Still, tariff revenue remains modest compared to other major contributors.

On the spending side, the biggest outlay for the month was Social Security at $132 billion, followed by $89 billion in net interest, $82 billion for Medicare, $76 billion for health and $70 billion for national defense.

Despite the hefty surplus, one strong month isn’t enough to reverse the broader fiscal trend. From October 1 through April 30, the U.S. government brought in $3.110 trillion in revenue but spent $4.159 trillion — resulting in a $1.049 trillion deficit for the fiscal year so far.

So it’s no surprise the national debt continues to soar. As of this writing, the total outstanding debt of the U.S. government sits at a staggering $36.212 trillion.

The takeaway? To run a surplus, you have to earn more than you spend. That might be a tall order for a government juggling countless programs — but for individuals, it’s a surprisingly simple (and achievable) strategy.

Here are a few ways to boost your own fiscal health in 2025 — and beyond.

Cutting waste from your spending

If you want to improve your finances, the first step is understanding where your money goes each month. Track all your expenses for 30 days, then sort them into two categories: necessities — like rent, groceries, utilities and health care — and discretionary spending, such as dining out, entertainment, shopping and hobbies.

This breakdown gives you a clear picture of your spending habits and helps identify areas where you can cut back. But trimming waste isn’t just about skipping lattes or takeout. Even in essential categories — like car insurance or banking — you may be spending more than you need to. The good news? With a bit of research, those costs can often be significantly reduced.

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 $179 per month).

However, rates can vary widely depending on your state, driving history and vehicle type, 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.

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.

For example, Wealthfront’s high-yield cash account offers a 4% APY (annual percentage yield) on deposits — nearly 10 times the national average. Plus, it charges no account, monthly or overdraft fees.

You can open an account with as little as $1 and enjoy 24/7 instant withdrawals. And if you fund your account with $500 or more, you’ll get a $30 bonus.

Let your spare change grow

One of the easiest ways to cut financial waste is by putting your spare change to work instead of letting it sit idle. That’s where micro-investing apps like Acorns come in.

When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and invests the difference — the coins that would wind up in your pocket if you were paying cash — into a diversified portfolio of ETFs.

Buying a coffee for $3.40? The app rounds it up to $4 and invests the extra $0.60. Over time, those small amounts can add up — especially if you’re consistently spending and saving.

It’s a simple, set-it-and-forget-it way to build wealth from money you might not even miss — and, if you sign up today, Acorns will add a $20 bonus to help you begin your investment journey.

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

Create a steady passive income stream

Cutting expenses is one way to create a surplus — but boosting income can be just as powerful. And while asking for a raise doesn’t always lead to results, there are ways to earn money without clocking in extra hours. That’s where passive income comes in: money that keeps flowing with minimal day-to-day effort.

One of the most popular passive income strategies? Real estate.

When you own a rental property, tenants pay you rent each month — providing a steady stream of cash flow. It’s also a time-tested hedge against inflation, since both property values and rental income tend to rise along with the cost of living.

Of course, purchasing a property requires significant capital — and finding the right tenant takes time and effort. But thanks to new investment platforms like Arrived, you don’t need to own a property outright to gain exposure to real estate.

With Arrived, you can 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 potential rental income deposits from your investment.

Another option is Homeshares, which gives accredited investors access to the $36 trillion U.S. home equity market — 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 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.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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 tariffs continue to drive market uncertainty while boosting the price of domestic and imported goods, and may further weigh down a beleaguered U.S. market, according to JPMorgan’s annual stakeholder letter.

“The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,” Jamie Dimon, who serves as JPMorgan CEO and chairman, wrote in a letter to shareholders on April 7. “And even with the recent decline in market values, prices remain relatively high.”

His concerns aren’t without merit.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

Trump’s latest tariff policies have battered the stock market — the S&P 500 index declined by over 10% in early April, formally entering correction territory.

Dimon supported Trump’s tariffs in January, calling them a “little inflationary” yet imperative for national security.

But Dimon now sees the U.S. economy weakening in the wake of Trump’s recent tariff announcements, according to that same shareholder letter.

“The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, high fiscal deficits, and still rather high asset prices and volatility,” Dimon acknowledged.

If you share these concerns, here are three ways to help protect your portfolio.

Precious metals

When markets look shaky, investors often turn to gold — and for good reason. The precious metal is seen as a store of value, offering protection against inflation, economic downturns and stock market volatility.

As market uncertainty mounts, investors often take cover with precious metals. For instance, gold has climbed around 35% over the past year, hitting over $3,200 per ounce, while silver has posted impressive gains of around 36%, reaching over $30 per ounce.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

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

Real estate

Investors looking to diversify beyond stocks to shield their wealth from the impacts of rising prices brought on by tariffs might find real estate a compelling choice.

Property values tend to rise with inflation, reflecting the increasing costs of materials, labor and land. At the same time, rental income has been shown to climb, providing landlords with a steady revenue stream that adjusts with the cost of living.

Of course, purchasing a property requires significant capital — and finding the right tenant takes time and effort. But thanks to modern investment options, you don’t need to own a property outright to gain exposure to real estate as a financial asset.

Platforms like First National Realty Partners allow accredited investors to own a piece of institutional-grade, grocery-anchored properties without the hassle of finding and managing property.

FNRP properties are leased to national brands like Whole Foods, CVS, Kroger and Walmart. Thanks to triple net leases, investors can potentially collect grocery-store-anchored income without worrying about operational headaches cutting into the bottom line.

New investing platforms are also making it easier than ever to tap into the residential real estate market.

For accredited investors, Homeshares gives access to the $36 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 internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

Fine art

It’s easy to see why great works of art tend to appreciate over time. Supply is limited, and many famous pieces have been snatched up by museums and collectors. This makes art an attractive option for investors looking to diversify their holdings.

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. But for a long time, investing in art was 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. Masterworks has had 23 successful exits to date, and every one of them has been profitable. All told, Masterworks has distributed over $60 million in proceeds back to investors, including the principal.

To get started, 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. See important Regulation A disclosures at Masterworks.com/cd.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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.

Paul Krugman isn’t one to mince words. The Nobel Prize-winning economist says President Donald Trump’s policies are doing serious damage to the U.S. economy — calling them “crippling” in some cases and a direct threat to what once made America exceptional.

In an interview with Bloomberg Talks on April 8, Krugman blasted the Trump administration’s sweeping layoffs at federal health agencies.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

“The CDC is laying off medical scientists so fast that samples are being left in research with nobody to look after them,” he said. “And since ultimately U.S. technological progress relies a lot on the spillovers from government research, we’re actually crippling — [making] America not great again.”

Krugman also criticized Trump’s constantly shifting tariffs, arguing that they’ve created a climate of deep uncertainty — and that alone is enough to hurt the economy.

“[We’ve] never had a situation where you have no idea where the average tariff rate is going to be a few months from now,” Krugman said. “This creates an impossible environment for business. It’s hard to imagine a worse trade policy than what we’re getting.”

Echoing other economists, Krugman believes that tariffs could drive up inflation and drag down growth — but given the unpredictability of Trump’s policy changes, he says the short-term impact could be even worse.

“We may very well now think better than even odds that we are going to have a recession this year,” he warned.

While Trump insists that “tariffs are about making America rich again and making America great again,” Krugman argues his implementation of them is having the opposite effect.

“If you wanted to kill U.S. exceptionalism, this is kind of what you would do,” he said.

The U.S. hasn’t entered a recession, but with markets reacting to trade policy shifts, investors may want to prepare. If you’re concerned about what’s next, here are three easy ways to protect your nest egg now.

Consider this ‘very effective diversifier’ for tough times

While stocks have taken a hit in the wake of sweeping tariffs, one asset has emerged as a bright spot: gold.

Often seen as the ultimate safe haven, gold isn’t tied to any one country, currency or economy. It can’t be printed out of thin air like fiat money, and in times of economic turmoil or geopolitical uncertainty, investors tend to pile in — driving up its value.

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.”

Over the past 12 months, gold prices have surged by around 35%.

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

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

Collect passive income — even when markets fall

Like stocks, real estate has its cycles, but it doesn’t rely on a booming market to generate returns.

Even during a recession, high-quality, essential real estate can continue to produce passive income through rent. In other words, you don’t have to wait for prices to rise to see a payoff — the asset itself can work for you.

It’s also a time-tested hedge against inflation. As the cost of materials, labor and land rises, property values often increase as well. At the same time, rental income tends to climb, giving landlords a revenue stream that adjusts with inflation.

That said, owning a rental property isn’t exactly as passive as it sounds. Between finding tenants, collecting rent, covering repairs and saving for a down payment, being a landlord takes time — and money.

The good news? These days, you don’t need to buy a property outright to benefit from real estate investing.

For accredited investors, Homeshares gives access to the $36 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.

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.

Talk to an expert

When markets turn volatile and uncertainty looms, it can be difficult to know what moves to make — or whether to make any at all. That’s where a trusted financial advisor can make a big difference.

A good advisor doesn’t just help you pick stocks. They take the time to understand your unique goals, time horizon and risk tolerance — then help you build a diversified portfolio that fits your life, not just the market cycle.

With Vanguard, you can connect with a personal advisor who can help assess how you’re doing so far and make sure you’ve got the right portfolio to meet your goals on time.

Vanguard’s hybrid advisory system combines advice from professional advisers and automated portfolio management to make sure your investments are working to achieve your financial goals.

All you have to do is fill out a brief questionnaire about your financial goals, and Vanguard’s advisers will help you set a tailored plan, and stick to it.

Once you’re set, you can sit back as Vanguard’s advisors manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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.

To combat America’s declining birth rate, the Trump administration is reportedly considering a $5,000 “baby bonus” for new mothers.

According to The New York Times, a chorus of proposals have been floated at the White House to encourage Americans to get married and have more children. One idea gaining attention: a $5,000 cash bonus for every new mother after delivery.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

When asked Tuesday at the White House whether his administration was considering such a bonus, Trump didn’t hesitate. “Sounds like a good idea to me,” told reporters.

America’s total fertility rate (TFR) has been declining for decades. In 1960, it stood at 3.65 births per woman. By 1990, it had fallen to about 2.1 — roughly the replacement level needed for a population to replace itself from one generation to the next — and by 2023, it had dropped further to just 1.62, according to a March 2025 report from the CDC.

But while $5,000 is nothing to sneeze at, some experts and parents say it’s unlikely to move the needle — especially given the soaring cost of raising a child in America today.

According to SmartAsset, the median annual cost for two working parents to raise one child in the U.S. is $22,850.

And although Trump appears to like the idea of a $5,000 baby bonus, there’s no guarantee it will move forward. A White House official told CBS MoneyWatch that no final decision has been made.

In the meantime, soaring living costs — from housing to groceries to healthcare — are putting pressure on Americans across the board, whether they have children or not. In an environment where every dollar counts, finding ways to build additional income streams can make a real difference.

Here’s a look at three simple ways to start earning passive income — sources of money that keep flowing with little day-to-day effort.

Real estate

Real estate is a popular way to generate recurring income. When you own a rental property and tenants pay rent, you earn a steady monthly cash flow.

It’s also a time-tested hedge against inflation, as property values and rental income tend to rise alongside the cost of living.

Of course, purchasing a property requires significant capital — and finding the right tenant takes time and effort. But thanks to new investment platforms like Arrived, you don’t need to own a property outright to gain exposure to real estate.

With Arrived, you can 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 start generating potential regular income — all while Arrived handles the responsibilities of property management.

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

Dividend stocks

Investing in dividend stocks — shares of companies that regularly distribute a portion of their profits to shareholders — is another time-tested way to generate passive income.

Dividends are payments made to investors, typically on a quarterly basis, providing a steady income stream without requiring the sale of shares. While stock prices fluctuate, companies with a strong dividend track record allow investors to earn consistent payouts, and some even increase their dividends over time, further boosting returns.

Of course, not all dividend stocks are created equal. For those looking to diversify easily, dividend-focused exchange-traded funds (ETFs) offer an attractive option. These funds pool together dozens or even hundreds of dividend-paying companies, reducing the risk tied to any single stock. Dividend ETFs can provide broad exposure across industries and often focus on companies with strong histories of paying — and growing — their dividends.

The beauty of ETF investing 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: 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 a dividend 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.

High yield savings accounts

High-yield savings accounts offer a low-risk way to generate passive income while keeping your funds accessible. These accounts typically offer much higher interest rates than traditional savings accounts, allowing your money to grow without needing to lock it away in long-term investments. This option is ideal for those who want a secure, liquid source of passive income with minimal effort or risk.

These days, some banks and financial institutions are offering high-yield savings accounts that pay up to 4.5%.

In the U.S., most savings accounts are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank. This insurance provides protection to depositors in the event that the bank fails, ensuring that their funds are safe and accessible.

If you’re unsure which path to take amid today’s market uncertainty, it might be a good time to connect with a financial advisor through FinancialAdvisor.net.

FinancialAdvisor.net is a free online service that helps you find a financial advisor who can help you create a plan to reach your financial goals. Just answer a few questions and their extensive online database will match you with a few vetted advisors based on your answers.

You can view advisor profiles, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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 has unveiled an ambitious vision for America’s financial future — the creation of a sovereign wealth fund that mirrors the strategies of resource-rich and oil-producing nations.

On Feb. 3, Trump signed an executive order directing the creation of a U.S. sovereign wealth fund. The order mandates that the Secretary of the Treasury and the Secretary of Commerce develop a plan within 90 days, detailing funding mechanisms, investment strategies, fund structure and governance models.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

“We’re going to create a lot of wealth for the fund,” Trump told reporters that day.

While Trump has floated the idea of using “tariffs and other intelligent things” for funding, no concrete financial source has been confirmed.

The proposal has sparked both interest and criticism. Economist Peter Schiff, once a Trump supporter, slammed the idea as “preposterous” and “unconstitutional” — warning against government interference in the market.

Colin Graham of Robeco echoed these concerns, noting that sovereign wealth funds typically rely on national savings — something the U.S. lacks due to its $36.22 trillion national debt.

Skeptics argue that launching a wealth fund doesn’t make sense given the country’s high debt, seeing it as a sign of misplaced financial priorities.

While political leaders debate policy, savvy investors should stay focused on what they can control — building and safeguarding their wealth regardless of who’s in the White House.

Here are three simple ways to get started on building your wealth.

Others have also raised concerns about the economic feasibility of such a fund.

“The economic rules of thumb don’t add up,” said Colin Graham, head of multiasset strategies at Robeco in London. “Creating a sovereign wealth fund suggests that a country has savings that will go up and can be allocated to this.”

The U.S. government doesn’t have much in the way of savings — it has debt. As of this writing, the U.S. national debt stands at $36.22 trillion, raising concerns about whether a sovereign wealth fund is financially viable.

Whether Trump’s sovereign wealth fund becomes a game-changing wealth-generating force or faces insurmountable challenges, the responsibility falls to all Americans to take control of their own financial future. While governments debate policy, savvy investors have always prioritized building and protecting wealth — regardless of political shifts or who occupies the White House. Here’s a look at three easy ways to get started.

Warren Buffett’s No. 1 strategy for everyday investors

When it comes to building wealth, few investors have a track record as impressive as Warren Buffett.

From 1964 to 2023, his company, Berkshire Hathaway, grew in value by 4,384,748%. In 2024, Berkshire became the first U.S. company outside of the tech sector to surpass $1 trillion in market value.

Despite his legendary success in picking winning companies, Buffett doesn’t believe that’s the right approach for most investors. Instead, he champions a much simpler strategy.

“In my view, for most people, the best thing to do is own the S&P 500 index fund,” he once famously stated.

This gives investors exposure to 500 of America’s largest companies across various industries, providing diversified exposure without the constant monitoring or active trading.

Buffett believes so strongly in this strategy that he has instructed 90% of his wife’s inheritance to be invested in “a very low-cost S&P 500 index fund” after he dies.

The beauty of this approach is its accessibility. It also imparts an important lesson: Small, consistent investments can make a big difference over time.

Investment tools like Acorns take advantage of this approach by automatically investing your spare change at checkout.

How Acorns works is simple: Link your cards and Acorns will round up each purchase to the nearest dollar, investing the difference into a diversified portfolio.

With Acorns, you can invest in Buffett’s top pick for most investors, an S&P 500 ETF, with as little as $5. Even better, Acorns will add a $20 bonus to help you begin your investment journey.

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

Trump’s towering fortune: real estate as an investment tool

Real estate has been another powerful vehicle for long-term financial growth, and it’s a strategy that Trump himself knows well.

Long before he entered politics, Trump built his fortune through high-profile real estate ventures, from luxury developments to commercial properties. Trump is estimated to be worth $7.5 billion, including cash and assets, according to Nasdaq.

Investors gravitate toward real estate for good reason. Well-chosen properties can generate passive income through rent while potentially appreciating in value over time.

Additionally, real estate can serve as a hedge against inflation. When materials, labor and land costs rise, property values often follow suit. In turn, rent tends to increase, allowing landlords to offset the impact of inflation.

The best part? These days, you don’t need to be a real estate mogul like Trump to take advantage of this strategy.

Platforms like First National Realty Partners (FNRP) help accredited investors own part of institutional-quality, grocery-anchored properties without the hassle of finding and managing properties themselves.

FNRP leases to national brands like Whole Foods, CVS, Kroger and Walmart, which provide essential goods to their communities. Thanks to triple net leases, investors can collect grocery store-anchored income without worrying about tenant costs cutting into the bottom line.

Schiff’s safe haven: why gold still shines

For investors looking to add stability to their portfolios, gold remains a time-tested option.

The price of gold has surged more than 40% since the start of January 2024, according to Goldman Sachs. In April 2025, gold passed a record-breaking $3,000 per ounce.

During periods of uncertainty — tariff-driven or otherwise — investors often turn to gold. The precious metal is seen as a store of value against market volatility.

Schiff, a long-time advocate for the yellow metal, believes this is just the beginning.

“If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing — it’s the value of the dollar that’s decreasing,” he predicted on “The Lead-Lag Report” in November 2024.

If you’re bullish on gold, you can opt for a gold IRA to hedge against market volatility by investing directly in precious metals ****rather than stocks and bonds.

Priority Gold is an industry leader in connecting you with physical gold and silver. Plus, they have an A+ rating from the Better Business Bureau and a 5-star rating from Trust Link.

If you want to convert an existing IRA into a gold IRA, Priority Gold offers a 100% free rollover, as well as free shipping and free storage for up to five years. Qualifying purchases can also receive up to $10,000 in free silver.

To learn more about how Priority Gold can help you reduce inflation’s impact on your nest egg, you can download their free 2025 gold investor bundle.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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.

Elon Musk has signaled that he plans to step away from the daily operation of the Department of Government Efficiency (DOGE). Still, the billionaire Tesla CEO has pledged that he won’t abandon his efforts to curb government waste.

“I’ll have to continue doing it for, I think, the remainder of the president’s term just to make sure that the waste and fraud doesn’t come roaring back, which we’ll do, if it has the chance,” Musk said on a Tesla earnings call on April 22.

While DOGE has faced criticism, JPMorgan Chase CEO Jamie Dimon has acknowledged the need for its efforts.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

“The government is inefficient, not very competent and needs a lot of work,” Dimon said in a recent interview with CNBC’s Leslie Picker.

The discussion arose when Picker asked Dimon whether he supports the so-called “chainsaw approach” DOGE is taking to the federal government.

Although Dimon declined to give what he called a “binary” answer, he stressed the need for scrutiny in government spending — a key focus of DOGE’s efforts.

“It’s not just waste and fraud, it’s outcomes. Why are we spending the money on these things? Are we getting what we deserve? What should we change? I think doing that needs to be done,” he said. “I’m hoping it’s quite successful.”

Regardless of whether DOGE’s efforts succeed, Dimon’s perspective can serve as a useful reminder in our personal lives: cutting waste isn’t just about spending less — it’s about making sure your money is working for you.

Here’s a look at four areas where you could save money in 2025 — and beyond.

1. Stop overpaying for car insurance

Car insurance is a major recurring expense, and many people overpay without realizing it. According to Forbes, the national average cost for car insurance in 2024 was $2,150 per year (or $179 per month). However, rates can vary widely depending on your state, driving history and vehicle type, and you could be paying more than necessary.

By using OfficialCarInsurance.com, you can easily compare offers 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.

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

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) and higher interest rates since they don’t have the same overhead costs as brick-and-mortar institutions.

For example, Wealthfront’s high-yield cash account offers a 4.00% APY on deposits — nearly 10 times the national average. Plus, it charges no account, monthly or overdraft fees.

You can open an account with as little as $1 and enjoy 24/7 instant withdrawals.

3. Get more affordable life insurance

Life insurance rates are on the rise. According to the Swiss Re Institute, global life insurance premiums are expected to increase by 3% annually in 2025 and 2026.

If you already have a term life insurance policy, now might be a good time to shop around for better rates. Most term policies can be canceled without penalty, allowing you to switch to a more affordable option.

With Ethos, you can get term life insurance in just 5 minutes — no medical exams or blood tests required.

And, you can get up to $2 million in coverage, starting at just $2/day.

4. Save on pet care

If you have a furry friend, you are probably shelling out big bucks at the local vet during each visit. With only 2% of pets insured across the U.S., pet owners typically spend up to $186 on average for a routine veterinary checkup, and anywhere between $374 and $1,285 for an emergency visit.

You can cut down these costs drastically by getting pet insurance. BestMoney is an online marketplace that lets you compare pet insurance policies offered by reputed providers like Spot Pet Insurance, ASPCA, Pet Best and more.

You can compare the coverage benefits, deductibles (if any), geographical availability and reviews — all in one place. Many of the featured insurance providers offer customized coverage plans, ensuring your pet’s needs are met.

Get started and find offers starting at just $10 per month here.

What to read next

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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).

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10
• You’re probably already overpaying for this 1 ‘must-have’ expense — and thanks to Trump’s tariffs, your monthly bill could soar even higher. Here’s how 2 minutes can protect your wallet right now

“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

• Millions of Americans now sit on a stunning $35 trillion in home equity — here’s 1 new way to invest in responsible US homeowners while targeting a 14%-17% IRR
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?

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