Author: Jing Pan

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Escalating trade tensions under President Donald Trump have dominated headlines, with critics warning that American consumers will bear the burden of higher prices.

But Treasury Secretary Scott Bessent argues that affordability isn’t just about cheap imports — it’s about ensuring Americans can build real financial security.

“Access to cheap goods is not the essence of the American dream,” Bessent said during a speech at the Economic Club of New York on March 6. “The American Dream is rooted in the concept that any citizen can achieve prosperity, upward mobility, and economic security.”

His remarks come at a time when many Americans continue to grapple with high costs of living amid Trump’s threats to impose further tariffs, which experts believe will drive up prices in the short term.

Bessent was later pressed on the issue during an appearance on NBC’s Meet the Press.

“Are you saying that the Trump administration is comfortable to have consumers pay more for goods in America?” host Kristen Welker asked.

“Not at all,” Bessent replied. “What I’m saying is the American dream is not ‘let them eat flat screens.’ If American families aren’t able to afford a home, don’t believe that their children will do better than they are [doing], the American dream is not contingent on cheap baubles from China, it is more than that. And we are focused on affordability, but it’s mortgages, it’s cars, it’s real wage gains.”

Housing affordability remains a pressing issue

Bessent’s remarks highlight one of the most pressing financial issues for Americans today: the soaring cost of homeownership.

Over the last decade, U.S. home prices have surged, with the S&P CoreLogic Case-Shiller U.S. National Home Price Index nearly doubling. Federal Reserve Chair Jerome Powell has acknowledged the severity of the problem, pointing to supply constraints as a key driver.

“The real issue with housing is that we have had, and are on track to continue to have, not enough housing,” Powell said at a press conference in September. He explained that “all aspects of housing” face challenges, including the zoning of land in desirable locations.

“Where are we going to get the supply?” he asked.

The gap between supply and demand is significant. An analysis by Zillow in June estimated the U.S. housing shortage at 4.5 million homes as of 2022.

There’s also the issue of high mortgage rates, which stand at around 6.67%, meaning borrowing money to buy a home remains expensive.

If you’re in the market for a home, Freddie Mac recommends shopping around by obtaining quotes from three to five lenders to secure the best mortgage rate possible. Even a small rate reduction can translate into significant savings over the life of a loan.

To make this process easier, platforms like the Mortgage Research Center (MRC) can help you quickly compare rates and estimated monthly payments from multiple vetted lenders. By entering basic details — such as your zip code, property type, price range and annual income — you can view mortgage offers tailored to your needs and shop with confidence.

Rising cost of car ownership

Bessent also pointed to cars as part of America’s affordability issue. Even though pandemic-induced supply chain disruptions and chip shortages have eased, the cost of owning a car remains high.

According to the American Automobile Association (AAA), the total cost of owning and operating a new vehicle in 2024 has climbed to around $12,297 per year — or $1,024.71 per month.

One major recurring expense is car insurance, and many people overpay without realizing it. According to Forbes, the national average cost for full-coverage car insurance in 2024 was $2,149 per year (or $179 per month). However, rates can vary widely depending on your state, driving history and vehicle type.

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.

Find additional sources of capital

With home values higher than ever, you can make your home work harder for you by making the most of your equity. The average homeowner sits on roughly $311,000 in equity as of the third quarter of 2024, according to CoreLogic.

Having access to your home equity could help to cover unexpected expenses, pay substantial debt, fund a major purchase like a home renovation or supplement income from your retirement nest egg.

Rates on HELOCs and home equity loans are typically lower than APRs on credit cards and personal loans, making it an appealing option for homeowners with substantial equity.

Unlock great low rates in minutes by shopping around. You can compare real loan rates offered by different lenders side-by-side through LendingTree.

Just answer a few simple questions, and LendingTree will match you with up to 5 lenders ¹ with low rates today.

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.

Stocks have tumbled in recent weeks as escalating trade tensions amid tariff threats under President Donald Trump rattled investor confidence.

While the market turmoil might tempt some investors to sell, “Shark Tank” star Kevin O’Leary is taking a different approach.

“Nobody likes volatility, but the market was extremely expensive,” O’Leary said in an interview with Yahoo! Finance on March 13. “I’ve lived through multiple corrections of up to 20%. I have to admit, I did some buying lately.”

The sharp pullback in stocks — particularly in the tech-heavy Nasdaq and small-cap Russell 2000 indices — caught O’Leary’s attention.

“I can’t catch the bottom, but I’ve seen great companies that still have great growth prospects selling down,” he said.

O’Leary believes this kind of downturn is exactly the moment investors should be stepping in, even if the headlines are full of doom and gloom.

“Everybody feels, ‘Oh my goodness, it’s the end of the free world as we know it’ — this always happens,” he said. “As an investor you learn that you have to hold your nose, and when there’s blood in the streets you have to be buying. It’s an old adage, but it’s not incorrect.”

What O’Leary says he’s buying

So, what exactly has O’Leary been buying? Rather than picking individual stocks, O’Leary revealed he buys indices, favoring rule-based exchange-traded funds (ETFs) that provide broad exposure while following a disciplined strategy.

“I use ALPS [mutual funds] because I once had an ETF company that did this,” he shared. “I use their OUSA product for the S&P 500 and OUSM for the Russell 2000, and I bought more because it’s on sale.”

While O’Leary is confident in the long-term benefits of buying during downturns, he cautions against trying to predict the exact bottom.

“You just have to look long term and realize these are buying opportunities, but never think you’re going to catch the bottom. I don’t even guess to do that, I don’t try to time the market,” he remarked.

O’Leary’s strategy meets Buffett’s wisdom

O’Leary isn’t the only high-profile investor who champions index investing — Warren Buffet has long been a vocal advocate of the strategy for everyday investors.

Buffett has previously stated: “In my view, for most people, the best thing to do is own the S&P 500 index,” meaning shares in an index fund.

The legendary investor, who Forbes estimates is worth $160-plus billion, believes everyday investors are better off putting their money into a broad-based, low-cost index fund that captures the long-term growth of the U.S. economy.

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

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. After linking your cards, 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 that aligns with their personal financial goals. That’s where a professional can help.

With Vanguard, you can connect with a personal adviser 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 advisers manage your portfolio. Because they’re fiduciaries, they don’t earn commissions, so you can trust that the advice you’re getting is unbiased.

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 is making it clear that his push for a leaner, more efficient government won’t be slowing down anytime soon.

Speaking from the Oval Office last month, Trump took aim at federal employees he claims are collecting government paychecks while working second and even third jobs on the side.

“Nobody shows up to work because they’re all, quote, working at home. They’re not working at home, and a lot of them have second jobs,” Trump said.

He pointed to Elon Musk and the Department of Government Efficiency as the ones leading the charge to root out the issue.

“That’s the other thing that Elon Musk is looking at. How many of these people are getting checks working at home but they’re not working because they have second jobs and even third jobs?” Trump stated. “You’re going to find a lot of them and those people are going to be fired because we have to make our government smaller.”

The rise of multiple job holders

To be sure, holding multiple jobs isn’t unique to government employees — many Americans are doing it. According to the Bureau of Labor Statistics, 9.04 million U.S. workers held more than one job in February 2025. That includes 5.37 million people balancing a full-time primary job with a part-time secondary job. Even more striking, 404,000 workers were juggling two full-time jobs.

Labor economist Christopher Taber points to two key reasons behind the rise of multiple jobholders.

“One story is that people are short of cash, and they need extra hours and the only way to pick up extra hours is by picking up a short-term job. Another story is that it’s easier to work two jobs now than it was before,” he explained.

With inflation still fresh in people’s minds, the high cost of living has made side hustles a necessity for many Americans. At the same time, remote work has made holding multiple jobs more feasible than ever.

Trump has already taken steps to rein in remote work for government employees. On his first day in office, he ordered all executive branch departments and agencies to “take all necessary steps to terminate remote work arrangements and require employees to return to work in-person at their respective duty stations on a full-time basis.”

Whether you work for the federal government or not, having extra income can be a game-changer — especially with experts predicting rising costs in 2025. Here’s a look at three ways to generate passive income without putting your career at risk.

Earn passive income from 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 popular hedge against inflation, as property values and rental income tend to rise alongside the cost of living.

However, while real estate investing has clear benefits, being a landlord comes with challenges. Managing a property involves finding and screening tenants, collecting rent, and handling maintenance and repair requests (out of your own pocket) — and that’s assuming you can save enough for a downpayment and get a mortgage to buy the property in the first place.

The good news? These days, you don’t need to buy a property outright to reap the benefits of real estate investing. Crowdfunding platforms, for example, allow everyday investors to own shares in rental properties without the large down payments or management headaches traditionally associated with real estate ownership.

Alternatively, real estate investment trusts (REITs) provide another avenue for those looking to gain exposure to this asset class.

Invest in 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.

The power of dividends has even caught Musk’s attention. Back in 2023, when reports surfaced that Berkshire Hathaway, the investment empire of legendary investor Warren Buffett, earned $704 million in dividends from its Coca-Cola holdings in one year, Musk couldn’t resist commenting on X, “Berkshire Hathaway high on Coke.”

Of course, choosing the right dividend stocks is key, and past performance isn’t a guarantee of future results. When buying a dividend stock, don’t just focus on its payout or yield. Take the time to understand the company’s business fundamentals, and if you’re following Buffett’s lead, look for companies with durable competitive advantages.

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.

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.

In response to President Donald Trump’s tariff plans targeting Canadian goods, Ontario Premier Doug Ford has a dire warning.

“If they want to try to annihilate Ontario, I will do everything, including cut off their energy — with a smile on my face,” Ford declared during a mining conference in Toronto on Monday. “They rely on our energy, they need to feel the pain. They want to come at us hard? We’re going to come back twice as hard.”

On Thursday, Trump announced a one-month delay on the 25% tariffs for imports from Mexico and Canada covered by the USMCA free trade agreement. But Ford isn’t backing down.

Later that day, he told CNN that Ontario will impose a 25% surcharge on power it sends to 1.5 million homes in Minnesota, Michigan and New York starting next week, in response to Trump’s tariff plan.

As of Friday, however, Trump announced he may impose new tariffs on lumber and dairy products coming from Canada sometime before Tuesday.

While Trump has called tariff “the most beautiful word in the dictionary,” Ford warns that the economic consequences will be severe.

“Donald Trump’s tariffs are going to devastate the U.S. economy, put Americans out of work and raise costs for hardworking American families,” Ford wrote in a post on X.

Will the market plunge ‘faster than the American bobsled team’?

Stock markets have already taken a hit amid tariff concerns, and according to Ford, the worst may still be ahead.

“The market is speaking loud and clear, the market is going to go downhill faster than the American bobsled team,” he warned in a recent interview with CNN.

Even some of Trump’s own supporters are sounding the alarm about the economic fallout.

Economist Peter Schiff, who backed Trump during the election, has criticized the president’s stance on trade deficits, calling it “all wrong.” He argues that without Canadian imports, prices “would go way up” for U.S. consumers.

Protect your purchasing power — and your portfolio

With markets reeling, inflation eroding purchasing power and trade war uncertainty looming, investors are searching for ways to safeguard their wealth.

Schiff suggests turning to a time-tested hedge — gold.

Gold is often considered the go-to safe haven asset. The precious metal can’t be printed out of thin air like fiat money, and because it’s not directly tied to any single currency or economy, investors often flock to it during periods of economic turmoil or geopolitical uncertainty, driving up its value.

Over the past year, gold has surged 34%, recently surpassing $2,900 per ounce. And according to Schiff, the rally is far from over.

“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 last October.

These days, you don’t even have to go to a bullion shop to buy precious metals. There are plenty of online platforms that offer a wide selection of gold and silver bars and coins and fair pricing.

Additionally, you can combine the recession-resistant nature of gold with the tax benefits of an IRA by opening a gold IRA.

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 our top picks for industry-leading companies offering gold IRAs.

Compare offers instantly and request a free information guide to help you understand how this type of investment could fit in your portfolio.

A tangible hedge with passive income

In addition to gold, real estate serves as another time-tested hedge against inflation — with the added benefit of generating income.

When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. This makes real estate a compelling store of value for investors looking to protect their wealth.

Moreover, real estate doesn’t just rely on appreciation for returns. Rental properties, for instance, can provide a stream of passive income. As inflation pushes up the cost of living, rental income typically rises alongside it, helping landlords offset the erosion of purchasing power.

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

For instance, platforms like First National Realty Partners (FNRP) allow 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.

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

“Shark Tank” star Kevin O’Leary has never been one to mince words, and his latest take on Elon Musk’s Department of Government Efficiency (DOGE) is no exception.

In a recent interview with Fox Business, O’Leary praised DOGE’s efforts to expose government waste, calling it “the best barbecue” he’s seen.

“This is wildly popular because we have a unique situation. You’ve got Elon Musk with his own international broadcast network. He can publish anything he wants at any time,” O’Leary said. “He goes into these agencies — 48 hours later, puts a list of crazy stuff like you just detailed.”

Musk, who owns social media platform X, has been vocal about DOGE’s findings, sharing reports on government spending that some critics call excessive.

Some of the expenses DOGE flagged include: $14 million in taxpayer money for “social cohesion” programs in Mali, $40 million for Cambodian women’s empowerment, $10 million for “Mozambique voluntary medical male circumcision” and $14 million for “improving public procurement” in Serbia.

For O’Leary, these revelations raise serious questions.

“People see it all through the U.S. and around the world and say, ‘This is nuts,’” he said. “And it just fuels — what else is out there?”

O’Leary also pointed out that Musk’s ability to spearhead DOGE’s initiatives wouldn’t be possible without “the executive behind him,” referring to President Donald Trump. In the description of his video, O’Leary even stated: “DOGE COULD BE REMEMBERED AS TRUMP’S BIGGEST ACHIEVEMENT.”

And according to him, there’s still plenty more to uncover.

“There’s a lot of tension going on here with the management of these programs, and particularly when we start talking with the FAA and the Pentagon,” O’Leary said.

“I mean, oh, baby, wait till that one comes out, because that is always going to be a black hole saying, ‘Well, it’s for defense, and I can’t tell you what it’s for.’ But now there’s accountability. There’s so much fat dripping off these chickens — this is the best barbecue I’ve ever seen.”

While DOGE’s efforts are making waves in Washington, O’Leary’s analogy about fat dripping off chickens applies to more than just federal spending. Waste exists in businesses, households and personal finances alike.

Here’s a look at three areas where you can cut costs 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 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.

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% APY on deposits — nearly seven 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 five minutes — no medical exams or blood tests required.

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

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.

With stocks, crypto and numerous other investment options, who would have thought that gold — a precious metal used in trade for millennia — would be the one going “absolutely nuts” in 2025?

But that’s exactly what’s happening. Gold prices have surged 35% over the past year, recently topping the $2,900 per ounce mark. Rick Harrison, Gold & Silver Pawn Shop owner in Las Vegas, has noticed the trend firsthand.

“My suppliers are limiting the amount of gold they will sell you, because they can’t get any in. I mean, it’s gone absolutely nuts,” Harrison said in an interview with Fox Business.

Harrison, whose dealings at the pawn shop are featured on the popular History series Pawn Stars, believes there’s clear reason behind the surging demand for gold

“Remember, we live in a world where we’re printing money like confetti, and it’s getting a lot of people concerned,” he noted. “The government’s number one line item now is interest on the debt — it’s $36 trillion. I mean, you’re never going to be able to pay that off. So the only way to pay down the debt is either inflate the money supply or monetize the debt, which causes inflation anyway.”

The U.S. national debt — the total amount of outstanding borrowing by the U.S. federal government — has reached $36.22 trillion as of February 2025. Last year, it made headlines when interest costs on the national debt surpassed spending on defense and Medicare.

This gold rush isn’t limited to the U.S. South Korea has banned sales of gold bars because the government has been buying them, citing supply shortages and surging demand. However, this may not be entirely due to government purchases, as reports indicate that the Bank of Korea has kept its gold reserves steady at 104.4 tonnes since 2013.

But Harrison isn’t entirely off base — the world’s central banks have been stockpiling gold. In 2024, they added 1,045 tonnes to global reserves, marking the third consecutive year of net purchases exceeding 1,000 tonnes, according to the World Gold Council.

That demand could push prices even higher. Goldman Sachs recently raised its year-end 2025 gold price forecast to $3,100 per ounce, citing “structurally higher central bank demand”.

While purchasing gold might be becoming more difficult in some places, adding it to your portfolio is still surprisingly easy. Here are three simple ways to gain exposure.

Buy gold bullion

Harrison acknowledged that people are buying gold today because “it’s a hedge against inflation”.

Unlike fiat currencies, gold can’t be printed at will by central banks, making it a time-tested store of value. One of the most direct ways to invest in gold is by purchasing physical bullion in bars or coins.

These days, you don’t even have to go to a bullion shop — or wait in line at a pawn shop — to buy precious metals. Many online platforms offer a wide selection of gold and silver bars and coins and fair pricing.

Invest in gold stocks and ETFs

Gold mining companies offer another way to gain exposure to the precious metal. When the price of gold rises, miners tend to enjoy bigger profits, potentially boosting the value of their shares.

Adding goldmining companies to one’s portfolio can provide diversification. However, keep in mind that doing so also exposes investors to stock market risks and the performance of the underlying companies.

Meanwhile, there are Exchange-Traded Funds (ETFs) that track the performance of gold. These ETFs aim to mirror the price movements of gold by holding physical gold or gold futures contracts.

Not sure which path is right for you? It might be time to connect with a financial advisor through WiserAdvisor.

WiserAdvisor is a free online service that helps match you with a vetted financial advisor who can help you build a strategy tailored to your goals. Simply answer a few questions, and their extensive network will connect you with advisors suited to your needs.

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

Invest in a gold IRA

Individual Retirement Accounts (IRAs) are a popular way to save for retirement, offering tax advantages that can help grow your savings over time.

Traditional IRAs allow you to contribute pre-tax income, with taxes deferred until you withdraw the funds during retirement. Roth IRAs, on the other hand, involve contributions made with after-tax dollars, providing tax-free growth and tax-free withdrawals in retirement.

You can combine the recession-resistant nature of gold with the tax benefits of an IRA by opening a gold IRA.

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] (https://moneywise.com/c/1/236/2008?placement=6) 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 this type of investment could fit in your portfolio.

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.

How would you feel about having an extra $5,000 in your pocket?

That’s the idea behind a proposal floated to Elon Musk, the billionaire Tesla CEO who also leads the Department of Government Efficiency (DOGE) — an initiative aimed at cutting wasteful spending and reducing unnecessary regulations.

In a post on X, James Fishback, CEO of investment firm Azoria, urged, “President Trump and @ElonMusk should announce a ‘DOGE Dividend’—a tax refund check sent to every taxpayer, funded exclusively with a portion of the total savings delivered by DOGE.”

Fishback’s attached proposal suggested that since DOGE is targeting $2 trillion in government savings, 20% of that ($400 billion) could be returned to America’s tax-paying households.

“$400 billion in DOGE-driven savings divided by 79 million tax-paying households = $5,000 ‘DOGE Dividend’ check per tax-paying household,” the proposal states.

Musk’s response?

“Will check with the President,” he wrote in reply.

Trump: ‘The numbers are incredible’

It’s unclear whether Musk has directly consulted President Donald Trump on the matter. However, during his remarks at the FII Priority Summit in Miami Beach, Florida, Trump acknowledged the idea.

“There’s even under consideration a new concept where we give 20% of the DOGE savings to American citizens and 20% goes to paying down debt because the numbers are incredible, Elon, so many billions, hundreds of billions,” Trump said. “We’re thinking of giving 20% back to the American citizens and 20% to pay down debt.”

But don’t get your hopes up just yet — experts aren’t optimistic that these checks will materialize.

“It is completely impossible for DOGE to save $2 trillion,” Jessica Reidl, a senior fellow at the Manhattan Institute, told CBS. “Washington is facing annual budget deficits that will likely surpass $3 trillion within the next few years. Sending taxpayers dividend checks would be completely irresponsible.”

Musk has set an ambitious goal of cutting $2 trillion in federal spending. So far, DOGE claims total estimated savings of $55 billion. Bloomberg noted that the DOGE website only accounted for $16.6 billion of those savings.

The good news? You don’t have to wait for Washington to send out checks — savvy investors have long found ways to generate their own dividend income. Here’s a look at three easy ways to get started.

Dividend stocks

Dividends are payments companies make to shareholders from their earnings, typically on a quarterly basis. While the idea of a DOGE dividend from the government remains uncertain, many corporations consistently return cash to investors through dividends.

Investing in dividend-paying companies can create a steady passive income stream — and sometimes, the numbers even catch Musk’s attention.

Back in 2023, when reports surfaced that Berkshire Hathaway, the investment empire of legendary investor Warren Buffett, earned $704 million in dividends from its Coca-Cola holdings in one year, Musk couldn’t resist commenting on X, “Berkshire Hathaway high on Coke.”

While stock prices fluctuate, companies that consistently pay dividends enable investors to earn income without having to sell their shares. High-quality companies like Coca-Cola can even increase these dividends over time, amplifying the income stream.

That said, past performance isn’t a guarantee of future results. And everyone’s financial situation is different, with unique goals, income levels and risk tolerance. WiserAdvisor 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 the advisors’ profiles, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

Real estate

Real estate is another 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 popular hedge against inflation, as property values and rental income tend to rise alongside the cost of living.

Even Musk has endorsed this approach, once advising: “It is generally better to own physical things like a home or stock in companies you think make good products, than dollars when inflation is high.”

However, while real estate investing has clear benefits, being a landlord comes with challenges. Managing a property involves finding and screening tenants, collecting rent, and handling maintenance and repair requests (out of your own pocket) — and that’s assuming you can save enough for a downpayment and get a mortgage to buy the property in the first place.

The good news? These days, you don’t need to buy a property outright to reap the benefits of real estate investing. Platforms like First National Realty Partners (FNRP) allow accredited investors to own shares in institutional-quality, grocery-anchored properties without the hassle of finding and managing deals themselves — with a minimum investment of $50,000.

FNRP properties are leased to national brands like Whole Foods, Kroger, and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, investors can enjoy the potential to collect stable, grocery store-anchored income every quarter, without worrying about tenant costs cutting into the bottom line.

High-yield savings accounts

High-yield savings accounts (HYSAs) offer a low-risk way to generate passive income while keeping your funds accessible. These accounts usually provide higher interest rates than traditional savings accounts, allowing your money to grow steadily without being tied up in long-term investments.

With so many options available, choosing the right HYSA can be overwhelming. That’s where SavingsAccounts.com comes in. This online comparison platform helps consumers evaluate high-yield savings accounts from various banks and financial institutions, offering side-by-side comparisons of interest rates, fees and key features to help you maximize your savings.

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.

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.

Bestselling author and geopolitical strategist Peter Zeihan is warning that the U.S. is locked into massive, multi-trillion-dollar deficits for decades — and it’s all because of one generation: baby boomers.

In a recent YouTube video, Zeihan argued boomers built an increasingly generous welfare state during their prime earning years, but now that they’re retiring, the financial burden is shifting to younger generations — especially Generation X, which is significantly smaller in size.

“The boomers have created a social welfare state for themselves that they never had any intention of paying for,” Zeihan said. “Fast forward to today, two thirds of them are retired. They’re taking their money, they’re going home. The taxes that they’re paying have dropped off, and we are left with a welfare state to fund their retirement without their income to pay for it all.”

The numbers back up Zeihan’s concerns. According to estimates, there are about 70 million baby boomers in the U.S., compared to roughly 65 million Gen Xers. Meanwhile, according to the United States Census Bureau, about 10,000 boomers turn 65 every day, further accelerating the strain on government finances.

And according to Zeihan, that spells trouble for the nation’s long-term financial stability.

“We’re looking at absolutely massive multi-trillion-dollar deficits every single year to be continued,” he said. “Deficits: massive, locked in as long as the boomers live, which is going to be on the average, another 15 to 25 years, based on who’s doing the math.”

The deficit problem is already serious. In fiscal year 2024, the federal government spent $6.75 trillion while collecting $4.92 trillion in revenue, leading to a $1.83 trillion deficit. The Congressional Budget Office (CBO) projects that the 2025 federal budget deficit will climb to $1.9 trillion.

‘Our time has finally arrived’ — but for how long?

As boomers enter their golden years, Gen X is set to benefit financially — at least for now. Zeihan believes the financial burden of the state will “fall on” Gen X, but in the meantime, the generation will dominate the economy.

“Until we get to that point, it’s a Gen X world,” he said. “We’re going to control all of the money. We’re going to control the majority of the property. We’re going to dominate the stock market.”

However, he warns that this advantage will be short-lived. As millennials — who have already overtaken boomers as the largest U.S. generation, with 72.7 million people — gain political power, they will likely push for major budget reforms. And according to Zeihan, Gen X will be the ones footing the bill.

Zeihan’s suggestion to Gen X is clear: “If you’re an Xer, our time has finally arrived, but it’s only going to be a moment, so make the most of it, get your money where it’s going to be protected because sooner or later the millennials will figure this out, and we will find a way to get the budget back into some degree of balance, and it will be Gen X paying for it — but not today.”

‘Make the most of it’ — no matter your generation

Zeihan emphasized that his generation — Gen X — is becoming “capital rich.” However, while Zeihan suggests that Gen X will control the majority of property and dominate the stock market, it’s important to remember that this financial opportunity isn’t exclusive to any one generation.

For instance, while traditional homeownership typically requires a hefty down payment and a mortgage, you don’t need to buy a property outright to start investing in real estate.

Platforms like First National Realty Partners (FNRP) allow accredited investors to own shares in high-quality grocery-anchored properties without the hassle of finding and managing deals themselves — with a minimum investment of $50,000.

FNRP properties are leased to national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, investors can enjoy the potential to collect stable, grocery store-anchored income every quarter, without worrying about tenant costs cutting into the bottom line.

Investing in stocks can be even simpler — just ask Warren Buffett. He advocates for a strategy that doesn’t require stock-picking expertise.

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

This 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.

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 — 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.

At the end of the day, everyone’s financial situation is different, with unique goals, income levels and risk tolerance. If you’re looking to build wealth but aren’t sure which investments align with your needs, it might be time to get in touch with a financial advisor through Advisor.com to create a personalized plan.

Advisor.com is an online platform that matches you with vetted financial advisors suited to your unique needs. Once you’re matched with an advisor, you can book a free consultation with no obligation to hire.

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.

Hedge-fund billionaire Ray Dalio has a stark warning for America — one that centers on its mounting debt crisis, with national debt standing at $36.22 trillion.

In a recent interview with CNBC, Dalio painted a grim picture of the nation’s financial trajectory, saying it was on course to “a debt death spiral.”

“A debt death spiral is that part of the cycle when the debtor needs to borrow money in order to pay debt service and it accelerates,” he cautioned. “And then everybody sees that and they don’t want to hold the debt.”

Highlighting the dire situation, he notes that the U.S. federal government now spends almost $1 trillion a year in interest payments to service the national debt.

To make matters worse, the country continues to run deficits, spending more than it receives. The U.S. Department of the Treasury reports that the federal government ran a $1.83 trillion deficit in fiscal 2024 when it spent $6.75 trillion but only took in $4.92 trillion in revenue.

The Congressional Budget Office (CBO) projects that the federal budget deficit will grow to $1.9 trillion in 2025.

Debt and the risk of inflation

When a borrower carries an overwhelming amount of debt, lenders begin to worry about repayment, increasing the risk of default. But according to Dalio, the U.S. is unlikely to default. The bigger threat? Depreciation of our currency.

“There won’t be a default — the central bank will come in, and we’ll print the money and buy it,” he says. “And that’s where there’s the depreciation of money.” Americans are all too familiar with the central bank’s quantitative easing (printing money) during the pandemic — and the resulting loss of purchasing power.

Inflation surged to a 40-year high in June 2022, with the consumer price index (CPI) soaring 9.1% year over year. The cost of essentials like food and housing remains stubbornly high.

Dalio’s safe-haven pick for ‘bad times’

To recession-proof your investments, Dalio emphasized the power of diversification and the role of one time-tested asset.

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

Gold is considered a go-to safe haven. It can’t be printed out of thin air like fiat money, and because it’s not tied to any single currency or economy, investors flock to it during periods of economic turmoil or geopolitical uncertainty, driving up its value.

So, how much of the precious metal should an investor own? Dalio advises that investors hold 10 to 15% of their portfolios in gold.

These days, you don’t even have to go to a bullion shop to buy precious metals. There are plenty of online platforms that offer a wide selection of gold and silver bars and coins and fair pricing.

Additionally, you can combine the recession-resistant nature of gold with the tax benefits of an IRA by opening a gold IRA.

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 our top picks for industry-leading companies offering gold IRAs.

Compare offers instantly and request a free information guide to help you understand how this type of investment could fit in your portfolio.

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