Author: Moneywise

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.

America’s Social Security program is both popular and woefully underfunded.

Experts have been warning that the social safety net millions of Americans rely on is on the verge of fraying. Now, personal finance author and motivational speaker Tony Robbins is calling on people of all ages to start weaving their own safety net.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

"Time to get your head out of the sand and do some easy number crunching to find out where you are and where you need to be," his website advises.

"Remember this: Anticipation is the ultimate power. Losers react; leaders anticipate."

Robbins might be preaching to the choir. According to the AARP, 74% of Americans believe Social Security will not provide enough to live on during their retirement. Two-thirds of them also consider the monthly benefits too low to live on.

If you share these concerns, here’s what you can do to secure your financial future.

Craft your own financial security plan

Since Social Security payments are likely to be insufficient, creating your own independent nest egg seems like an obvious solution. Robbins recommends setting a target to save at least 20 times your annual living expenses to fund a comfortable retirement.

On average, U.S. adults currently believe the “magic number” to retire comfortably is $1.46 million, according to Northwestern Mutual. This is 15% higher than the estimate in 2023, even though the average retirement savings dropped to $88,400 in 2024, nearly $1,000 less than the previous year.

In other words, most Americans understand how much they need to save but are unable to take the necessary steps.

If you’re struggling with where to start, Advisor.com can help you find a financial advisor in just a few clicks. Advisor.com combs through a database of thousands of vetted experts and matches you with those best suited to make the most of your money. Even better, each advisor is a fiduciary, which means they must put your interests first by law.

Set up a free, no-obligation consultation with one of their pre-screened financial advisors today.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Push for change

Despite its limitations, Americans overwhelmingly support the Social Security program and want the government to salvage it. A January 2025 poll by the Associated Press-NORC Center for Public Affairs Research revealed that two-thirds of Americans believe the government is spending “too little” on Social Security.

An AARP survey found that 85% of Americans back efforts to preserve the program, even if it requires higher taxes for everyone. According to the National Institute on Retirement Security, 87% of U.S. adults believe ensuring the program’s funding should be a top priority for elected officials, no matter the country’s fiscal challenges.

Regardless of how well-funded the program is, it’s clear that relying solely on Social Security for retirement is a risky proposition. On average, Social Security benefits replace only about 40% of pre-retirement income, which is often not enough to cover basic living expenses, let alone healthcare costs, leisure activities or unexpected emergencies.

Investing in gold can reduce your dependence on Social Security, providing a diversified source of income for retirement. Gold is often considered a hedge against inflation, as its value tends to rise when the cost of living increases, protecting your purchasing power over time.

It’s also seen as a safe-haven asset that investors flock to under uncertain market conditions. For instance, the price of gold surged to record highs in April 2025 amid concerns around the fallout of President Trump’s global tariffs.

For those looking to capitalize on gold’s potential, one option is opening a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account. This can give you the tax advantages of an IRA with the potential protective benefits of investing in gold, making it an option for those seeking to ensure their retirement funds are well-shielded against economic uncertainties.

When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in free silver.

Retire abroad

As of 2024, 21% of Americans say they would like to move abroad, up from just 10% in 2011, according to a Gallup poll. Meanwhile, the Social Security Administration reports that over 760,000 retirees are already collecting benefits while living overseas.

For those struggling with the ongoing retirement crisis, relocating to a country with a lower cost of living and a high quality of life — like Japan, Panama, Portugal, or Greece — could be a smart solution.

To make this more achievable, consider setting up a dedicated automatic savings fund for your retirement goals. This can help you build a larger nest egg for either relocating or ensuring a more comfortable retirement, even if you decide to stay in the U.S.

One of the most effective ways you can make this happen is by automatically investing your spare change with Acorns.

The app automatically rounds up your everyday purchases to the nearest dollar and invests the difference into a diversified portfolio. This means that while you’re still earning an income every transaction — from your morning coffee to grocery shopping — contributes to building your retirement fund.

Plus, with an Acorns Gold, you get a 3% IRA match on new contributions and the ability to customize your portfolio by selecting your own stocks.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

When the economy takes a hit, unfortunately, so does your wallet. While the standard advice to  save diligently, invest in your 401(k) and avoid unnecessary spending still applies, a recession calls for an even closer look at your money habits.

Here are 15 moves — and missteps to avoid — to ensure your hard-earned money keeps working for you, even in a recession.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

Should: Build up your emergency fund

Financial emergencies don’t send a calendar invite — they just show up. A sudden medical bill, a broken appliance or a job loss — these moments have a way of testing not just your patience, but also your bank account.

That’s why having an emergency fund, separate from long-term investments like a 401(k), is a good idea. Parking your emergency stash in a high-yield savings account can mean the difference between stagnant cash and steady growth. While the national average savings account rate sits at 0.41%, high-yield accounts can offer returns closer to 4%.

Should: Consolidate your debt

Another way to prepare yourself for a recession is to rethink your approach to debt. While debt can sometimes feel like an anchor that keeps pulling you down, there are ways to stay afloat, such as through debt consolidation.

By rolling multiple loans into one, you’ll have fewer bills to juggle, meaning less stress and fewer chances to miss a payment. If you qualify for a lower interest rate you can also save money in the long run.

You can compare rates offered on debt consolidation loans from vetted  lenders near you through Credible.

Here’s how it works: Answer some basic questions about your annual income and debt then Credible will show you offers from leading lenders like Discover, Upstart, SoFi and more. You can get approved for debt consolidation loans of up to $200,000 at the lowest possible interest rate on the platform.

This process is entirely free and won’t impact your credit score.

Credible also has a best rate guarantee: if you close a loan with a better rate than you prequalify for you can get a $200 gift card.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Should: Recalculate your net worth

There was a time when net worth felt like a conversation reserved for Wall Street titans. But in reality, everyone has a number attached to their financial identity. To calculate yours, start by adding up your assets, including cash in the bank, investments and retirement accounts. Then, subtract your liabilities, such as debts and other financial obligations. The result is your net worth.

During an unexpected shift in the economy or even a surprise expense, knowing what you have — and what you owe — can help you navigate the uncertainty.

Should: Take a closer look at your budget

Some people turn a blind eye to how much they’re really spending, but when it comes to money, ignorance isn’t bliss — it’s just expensive. A budget isn’t designed to cut out everything from your life. Instead, it’s a way for you to set your financial priorities and make sure your money is being property allocated.

For example, one popular budgeting method is the 50/30/20 rule, which simplifies budgeting into three categories: needs, wants and savings or investments. Instead of complicated spreadsheets, this method offers a clear framework that keeps your spending in check without taking over your life.

If you struggle with sticking to your budget, tracking where your money is going is a great place to start. Budgeting and tracking can help you understand where your money is going, so you can make every dollar work for you.

With YNAB, you can track spending and saving all in one place. Link your accounts so you can see a big-picture look of your expenses and net worth growth. You can prioritize saving for short or long term goals — like a vacation or a down payment for a house — with the app’s goal tracking feature.

If you want to pay debts faster, you can create personalized paydown plans to calculate how much interest you’d save if you topped up your monthly payments with a little extra.

The easy-to-use platform allows you to simplify spending decisions and clarify your financial priorities. Plus, you don’t need to add your credit card information to start your free trial today.

Should: Stock up on essentials

Inflation may be unpredictable, but your grocery bill doesn’t have to be. While you can’t hoard a year’s worth of fresh produce, stocking up on nonperishable items is a way to cushion against rising costs.

With food prices up 2.8% from last year — and the Consumer Price Index showing a 0.6% jump from December 2024 to January 2025 — every little bit of planning helps. If you’ve got the pantry space, now’s the time to grab extra staples before they get even pricier.

Should: Talk to a financial advisor

Talking to a financial advisor during periods of economic uncertainty is even more important. While inflation eats away at purchasing power, a financial advisor can help you figure out the best path forward. Whether it’s retirement, big purchases or adjusting long-term financial goals, an advisor can help ensure that a potential recession doesn’t derail your plans.

Finding an advisor that matches your investment style can be time consuming, but with Advisor.com you’re only a few clicks away from connecting with vetted financial experts near you.

All you have to do is enter some basic information about your current financial situation and your goals. Then Advisor.com will match you with a FINRA/SEC-registered advisor in your area for free. From there, you can set up an introductory call to see whether they’re the right fit for you.

Unlike most traditional financial advisors, you don’t need significant assets or a minimum net worth to find a fiduciary expert through Advisor.com.

Should: Consider additional income streams

There’s something comforting about a steady paycheck, but when the cost of everyday essentials climbs higher a single income stream might not cut it. According to the Bureau of Labor Statistics, more than 9 million U.S. workers were juggling multiple jobs as of February 2025, with more than 5 million balancing a full-time career and a part-time gig.

But you don’t necessarily have to snag a second job to make extra income.

With Arrived, you can invest in residential properties across the country and potentially generate passive income, without the operational headache of being a landlord.

Backed by world-class investors like Jeff Bezos, Arrived pays out rental income generated from properties as dividends monthly. Plus you’re entitled to receive capital gains at the end of the investment hold period, as residential property values typically rise over time.

Arrived is open to all U.S. citizens and green card holders who are 18 years or older. Get started with just $100.

Should: Be mindful of big purchases

That dream vacation, a new car or the latest tech might seem tempting, but major purchases can strain your budget when economic uncertainty is on the horizon. Before swiping your credit card, it might be worth asking yourself, is this a necessity or can it wait?

Shouldn’t: Panic and sell investments

When the stock market starts sliding, the instinct to sell everything and cut your losses can be powerful. But selling in a panic often locks in losses that could have recovered over time. Market fluctuations are nothing new, but historically they tend to rebound — and those who stay invested usually come out ahead.

In an interview with CNBC back in 2017, legendary investor Warren Buffett warned against the risks of timing the market. Instead, he recommended consistently investing in low-cost index funds despite market volatility.

“The temptation when you see bad headlines in newspapers is to say, well, maybe I should skip a year or something. Just keep buying,” Buffett stated. “American business is going to do fine over time, so you know the investment universe is going to do very well.”

One way you can do this is by investing spare change from everyday purchases into a diversified portfolio of ETFs with Acorns. Simply link your debit or credit card, and Acorns will automatically round up your purchases to the nearest dollar. This extra change is then put into a smart investment portfolio.

For instance, if you purchase a breakfast burrito for $10.25 Acorns will round up the purchase to $11 then set aside the difference. Once you hit $5, Acorns will invest the sum into a smart portfolio of ETFs — diversified with stocks and bonds.

You can get a $20 bonus investment when you sign up with Acorns.

Shouldn’t: Ignore your credit score

Your credit score isn’t just a random number and ignoring it can ruin your financial reputation, especially during a recession when lenders tighten their criteria. A poor score can mean higher interest rates on loans and credit cards, or even difficulty securing a mortgage, car loan or rental approval.

Many people assume that if they’re not actively borrowing, their credit score doesn’t matter. But even something as simple as missing a payment, carrying a high balance or closing an old credit card can quietly chip away at it.

Shouldn’t: Forget to shop around for better deals

Some expenses are optional — your morning latte, that extra streaming subscription. Insurance rates, utility bills, even phone plans — these are the nonnegotiables that can steadily drain your bank account if you’re not paying attention.

Yet, according to ValuePenguin, more than 65% of Americans don’t bother comparison shopping for better rates. That means many people are overpaying simply because they haven’t looked around.

In fact, ValuePenguin found that 92% of auto insurance policyholders who shopped around during their last renewal ended up saving money.

Through OfficialCarInsurance, you can compare auto insurance rates from leading providers like Progressive, GEICO, and Allstate for free.

Based on your location, age, driving history, and the make and model of your car OfficialCarInsurance will comb through its database and display offers as low as $29 per month.

The best part? Browsing insurance offers through OfficialCarInsurance won’t impact your credit score at all.

Get started and find rates as low as $29 per month.

If you are struggling with skyrocketing home insurance rates — which rose by an average of 10.4% last year — comparing offers from multiple insurance providers through OfficialHomeInsurance might be worthwhile.

By comparing home insurance rates and selecting the lowest possible cost, you can save an average of $482 per year.

Shouldn’t: Ignore inflation’s impact on your spending

The impact inflation has on your spending is something you might not notice right away, but over time you’ll see it. For instance, what used to be a $4 cup of coffee might now be pushing $6. When you don’t adjust your budget for inflation, you risk spending more than you realize — which can slowly whittle your savings.

If you want to preserve your dollar, investing in inflation-resistant assets like gold could be a good place to start. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of American Hartford Gold.

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

Even better, you can often roll over existing 401(k) or IRA accounts into a gold IRA without tax-related penalties. To learn more, get your free 2025 information guide on investing in precious metals. Qualifying purchases can also receive up to $20,000 in free silver.

Shouldn’t: Withdraw from your retirement accounts early

Dipping into your retirement savings might seem like an easy solution, but cashing out early can do more harm than good. Retirement accounts, like 401(k)s and individual retirement accounts IRAs, come with early withdrawal penalties — typically 10% if you take money out before age 59½.

Another option is to tap into your home equity, provided you own your home and have been paying off your mortgage on time for years.

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 with low rates today.

Shouldn’t: Quit your job without a plan

Even in a thriving economy, quitting your job without a backup plan is a bold move. When companies tighten budgets and layoffs become more common, walking away from a steady paycheck without a clear next step can put you in a tough spot.

A recession isn’t the time for impulsive exits. Instead, if you’re feeling stuck or undervalued, start mapping out your next move before handing in your resignation. Update your resume, network strategically and explore new opportunities while you still have financial stability.

Shouldn’t: Get caught up in lifestyle inflation

Lifestyle inflation can be a silent budget killer. This can happen if you get a raise or a bonus check, making spending a little easier. Whether you’re thinking of upgrading your apartment, dining out or just justifying a big purchase because you now have some wiggle room.

But if your spending rises as fast as your earnings, you’re not actually getting ahead — you’re just treading water in a more expensive pool. Instead of getting caught up in lifestyle inflation, building an emergency fund, investing more and paying off debt faster are smarter moves.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

The U.S. Department of Labor estimates you’ll need 70-90% of your pre-retirement income to maintain your standard of living in your golden years.

Americans expect they will need $1.26 million to have a comfortable retirement, according to a recent study by Northwestern Mutual.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

Compare that to what many Americans have saved: a median of $185,000 for those aged 55-64, according to Federal Reserve data — a balance that may not be enough to last you.

The wise strategy to grow your wealth is not to sit passively on your nest egg, but to continue building it.

Here are three strategies that the richest Americans use — and you can borrow — to help get your nest egg to the size you need for a comfy retirement.

Leverage tax-deferred growth

The IRS has no age limit on how long you can continue contributing to an individual retirement account (IRA) contributions, and your money will continue to grow tax-free as you save. But there are still contribution and deduction limits to be aware of.

If you’re covered by a retirement account at work, traditional IRA deductions are phased out for married couples if your modified adjusted gross income (MAGI) is between $123,000 and $143,000. With a Roth IRA, that phase-out happens between $230,000 and $240,000.

For single filers, the range is $87,000 to $161,000. Fortunately, the IRA contribution limit in 2024 is $8,000 if you’re 50 or older, up more than 14% from 2022.

While Roth IRAs are a key savings vehicle, you’ll also want assets that protect you from inflation and stock market volatility.

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, which combines 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.

When you’re feeling unsure about how to set up your retirement accounts, and how to meet a seven-figure savings goal, it’s time to call in a pro.

Professional advisors — like those at Advisor.com — can help you create a money management plan. Whether you’re looking to diversify your portfolio or grow your nest egg, Advisor.com connects you with experienced financial advisors who can help you reach your financial goals.

By partnering with a reputable advisor, you’ll gain expert insights into which alternative assets align best with your goals. Once you’re matched, you can schedule a free consultation to discuss your financial strategy and explore the investment options available to best suit your needs.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Move to a less expensive part of the country

From 2015 to 2019, only 5.9% of people aged 65 to 74 chose to relocate, according to U.S. census data. But definite financial advantages lie in moving from a high-cost-of-living locale to a much less expensive one. As of the second quarter of 2024, the Council for Community and Economic Research found that the Cost of Living Index in San Francisco (the nation’s fourth-most expensive city) is 167.4.

Meanwhile, Amarillo, Texas, one of the cheapest cities to live in, has a score of 83.1. If you want to stay closer to your hometown, a cost-cutting move is also entirely possible. RentCafe estimates that the cost of living in Rockford, Illinois is significantly lower than in Chicago — only 90 miles away.

Whether you stay or you go, one beneficial way to lower costs for your home is to shop around for a better deal on your home insurance.

OfficialHomeInsurance.com makes it easy to find the coverage you need without the hassle of calling multiple providers for quotes.

Shopping for a better policy is fast and easy: Simply fill out a few details about yourself and your home, and you’ll see get a list of quotes tailored for your needs. You could save an average of $482 a year.

A report by MarketWatch also found that Americans struggle to keep the monthly cost of car ownership below the recommended threshold of 10% of their monthly income. On average, we’re spending 20%. Lowering this expense can give you more funds to add to your retirement savings.

When you use OfficialCarInsurance, you can ensure that you’re cutting your insurance costs down to size.

Getting started with a quote is easy: When you enter your age, your home state, the type of vehicle you drive, and your driving record, OfficialCarInsurance will sort through the leading insurance companies in your area, including top providers like Progressive, Allstate and GEICO. You can then easily compare rates and choose the policy that best suits your needs and budget.

Invest a small portion of your portfolio in cryptocurrency

Yes, cryptocurrency has a well-earned reputation for volatility. But many financial experts say it is potentially profitable to invest in it, as long as you limit your risk exposure.

Working with retirees worth between $2 million and $10 million, certified financial planner Evan T. Beach told Kiplinger that crypto should typically make up no more than 5% of your portfolio. “Rich Dad, Poor Dad” author Robert Kiyosaki also has optimistic predictions for Bitcoin in particular.

On Nov. 29, 2024, he predicted, “Bitcoin will soon break $100,000.” On Dec. 4, 2024, the cryptocurrency surpassed that milestone, grabbing headlines worldwide. But he sees Bitcoin climbing much higher — potentially reaching $500,000 to $1 million.

For those looking to hop on the bitcoin bandwagon, new crypto platforms have made it easier for everyday investors.

For instance, Gemini is a full-reserve and regulated cryptocurrency exchange and custodian, which allows users to buy, sell and store bitcoin and 70 other cryptocurrencies.

You can place instant, recurring and limit buys on their growing and vetted list of available cryptos.

But if you’re not ready to buy just yet, you can still invest in crypto with their Gemini credit card.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

Arabella from Springfield, Missouri called into “The Ramsey Show” because she was facing a financial fork in the road.

With about $60,000 in cryptocurrency, $14,000 in student loans and $37,000 in auto debt, she and her husband were preparing to close on their first home.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

Her question to financial guru Dave Ramsey: Should they liquidate their crypto holdings to become debt-free before taking on a mortgage, or hold out for the market upswing that many in the crypto world are anticipating?

“I wouldn’t try to time the market with it,” co-host Jade Warshaw said. “You guys are in debt today, and you’re closing on the house really quickly. So, I would liquidate this crypto, and I would pay off this debt. I would do that instantly.”

Ramsey didn’t mince words about the digital currency’s risks either.

“It’s one of the most volatile, high-risk investments on the planet. And it’s not technically an investment, it’s actually called speculation.”

‘You’re in Vegas, and your car payment’s on the line’

Arabella said that the digital coins they hold aren’t meme tokens, but admitted their portfolio was worth $30,000 more before President Donald Trump’s tariff announcements.

“And so what happens when Trump burps again? You’re screwed,” Ramsey said.

Ramsey and Warshaw emphasized that investing in the cryptocurrency market is more like gambling than wealth building, especially when the assets are held instead of used for paying off loans.

“It’s the roll of the dice. You’re in Vegas, and your car payment’s on the line,” Ramsey said.

He also used a sunk cost analysis to help Arabella reframe her thinking:  If she had no debt, would she borrow against her car and on credit cards to buy $60,000 worth of crypto? Arabella responded, “Absolutely not.”

“It’s the same thing.” Ramsey said. “If you don’t sell it today, you’ll borrow it again tomorrow.”

Instead of riding market swings on risky bets, consider putting your money into consistent, low-cost investments. After all, starting early and building your investments a little at a time can pay dividends later.

An investment platform like Acorns can automatically invest your spare change into diversified ETFs tailored to your risk level and retirement goals —  a far cry from putting money into volatile, high-risk investments like crypto.

When you make everyday purchases, Acorns rounds up the price to the nearest dollar and invests the difference for you in a smart investment portfolio. That $4.25 coffee to start your day? It’s now a 75 cent investment in your future.

Acorns also lets you deliberately set aside a little each month for investing. If you sign up with a recurring monthly contribution, you get a $20 bonus to help jumpstart your investment journey.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

‘It might’ve been a spirit, but it wasn’t the holy one’

Arabella then revealed a different reasoning for the couple’s crypto holdings as the conversation turned spiritual.

“We are Christian and we do not gamble,” she said. “But we felt like God showed us these three specific coins that we’re invested in.

“And we have just been waiting for the right time for him to show us when to sell, which is why we’ve been holding for five years through two bull runs.”

Arabella’s story hit a nerve with Ramsey, who drew a sharp line between what he sees as biblical financial wisdom and reckless speculation.

“Playing short-term games with money you don’t have — because you’re broke — please don’t blame that on the Holy Spirit,” he said. “It might’ve been a spirit, but it wasn’t the holy one.”

Ramsey didn’t mince words. For Arabella, and anyone else listening, the message was clear: If you’re buried in debt, banking on a crypto miracle isn’t a plan — it’s a gamble.

When you’re dealing with tough financial decisions, having a qualified financial advisor by your side can provide much-needed clarity. But with over 321,000 financial advisers in the U.S., according to the Bureau of Labor Statistics, where do you start?

One option is to search for a financial advisor near you with Advisor.com. How it works is simple: Just answer a few questions about your finances and goals, then Advisor.com will match you with a financial advisor near you.

From here, you can book a free consultation call with no obligation to hire.

The best part? Advisor.com is a SEC registered advisor network, and so are the registered investment advisors you can be matched with. This means that they have a legal obligation to look out for your best financial interests.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

Picture this: A young couple has just closed on their dream home. They’re debt-free and have $80,000 in savings. The wife is on maternity leave, and after crunching the numbers, they realize they’ll have just $200 left over each month after paying their bills.

It’s a classic case of being house poor: A financial situation where mortgage payments leave little room for anything else.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

This hypothetical family isn’t really that hypothetical. U.S. households spent an average of 32.9% of their income on housing in 2023, according to the Bureau of Labor Statistics. That’s a significant chunk, although still manageable.

But, if that number creeps closer to 40% — especially with tight cash flow and limited income — it’s time to reassess.

Here are three ways this couple could stay on track financially.

1. Build a bare-bones budget around any surplus

When your financial margin is razor-thin, every dollar counts. The first step? Create a strict budget where every dollar has a job and no money goes to waste.

The couple should:

• Break down fixed expenses like mortgage payments, insurance and utilities
• Track variable costs including groceries, gas, baby supplies and subscriptions
• Eliminate non-essentials like takeout, streaming services or unused memberships

Budgeting apps can help visualize spending and find areas to trim. Even cutting $50 here or $100 there can stretch that $200 into something more sustainable.

As new homeowners, this couple should also be aware of the add-on costs that come with homeownership — including insurance. Some couples lose out on savings because they don’t shop around for the best price on their policies, instead going with an insurer they already use.

If you need to trim your budget to the minimum, look for a better insurance rate with OfficialHomeInsurance.com, where you can find the lowest rates on your home insurance for free.

In under 2 minutes, OfficialHomeInsurance.com can help you browse offers tailored to your needs from a list of over 200 reputable insurance companies.

Simply fill in a bit of information and quickly find the coverage you need at the lowest possible cost for you. On average, you can save $482 a year.

While you’re saving money on home insurance, you might also consider whether your auto insurance is optimized for coverage and expense.

OfficialCarInsurance.com helps you instantly sort through the best policies from car insurance providers in your area, including trusted names like Progressive, GEICO and Allstate. With rates as low as $29 per month, you can find coverage that suits your needs and potentially saves you hundreds of dollars per year.

To get started, fill in your information and OfficialCarInsurance.com will provide a list of the top insurers in your area.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Maximizing your insurance savings can open the door to saving, and investing, hundreds of dollars more than you would otherwise.

2. Treat $80K like a six-month lifeline

That $80,000 in savings is a huge asset, but it needs to be used wisely.

Here’s a potential breakdown:

• $10,000 Emergency Fund: Set this aside and don’t touch it unless it’s a true emergency, like job loss or a major medical expense
• $20,000–$30,000 Maternity Leave Cushion: Use this as a buffer for the next six months. That’s roughly $3,300–$5,000 per month to help fill in gaps while living on one income
• $40,000+ Long-Term Savings: Keep this intact for future goals like investing, education or improvements. Don’t dip into it unless absolutely necessary

Assigning a purpose to each dollar can help the couple spend confidently without jeopardizing their long-term financial stability.

They can also stretch their budget to accommodate a bit of extra savings with Acorns.

This platform automates investing and saving to simplify the process of setting aside extra funds. When you link Acorns to your bank account, each purchase you make is automatically rounded up to the nearest dollar. The difference is invested in a smart investment portfolio so you can grow your wealth without even thinking about it, even while you maintain a strict budget.

Plus if you sign up today, you get a $20 bonus investment with a recurring contribution.

Another way for this couple to stretch their existing savings is to ensure it’s deposited in a high yield savings account, so that the $40,000 balance can continue to grow.

SoFi offers high-yield accounts that can earn you up to 3.80% APY. Plus, with no account, monthly or overdraft fees, banking with SoFi helps you keep more money in your pocket.

The best part? You can now get up to $300 when you sign up with SoFi and set up a direct deposit.

3. Plan for post-maternity leave finances

This tight stretch won’t last forever.

Once both partners are working again, the couple should shift their focus from surviving to thriving. That means:

• Budgeting for child care now, since it can significantly reduce net income
• Replenishing any money used from the cushion fund
• Resuming long-term saving and investments — whether for retirement or their child’s future

Retirement may seem like a long way off when you’re holding your first child, but planning for your future should start as early as possible. A gold IRA is one option that can help you build a stable retirement fund.

Opening a gold IRA with the help of Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA.

With a minimum purchase of $10,000, Goldco offers free shipping and access to a library of retirement resources. Plus, the company will match up to 10% of qualified purchases in free silver.

If you’re curious whether this inflation-hedging asset is the right investment to diversify your portfolio, you can download your free gold and silver information guide today.

This couple may also benefit from speaking with a financial advisor to map out a long-term strategy.

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 Advisor.com.

This online platform connects you with vetted financial advisors best suited to help you develop a plan for your new wealth.

Just answer a few quick questions about yourself and your finances and the platform will match you with an experienced financial professional. You can view their profile, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

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

If the couple can get through this tight stretch without touching their emergency fund or long-term savings, they’ll emerge stronger and more financially resilient.

Being house poor doesn’t have to be a life sentence. With disciplined budgeting, a smart savings plan and short-term income boosts, this couple can navigate the squeeze — and still build the future of their dreams.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

If you’ve managed to accumulate some wealth, showing it off can often be tempting. After all, what’s the point of success if you can’t indulge in it?

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

However, a growing cohort of ultra-wealthy Americans are trying to conceal their wealth rather than flaunt it openly.

Here are five reasons why stealth wealth or quiet luxury lifestyles are gaining traction and why you should consider concealing the true extent of your fortune.

Privacy and security

Being publicly wealthy could make you a prime target for thieves, fraudsters and criminal gangs. A study by Silicon Valley Bank found that identity theft is 43% more common among the wealthy.

Celebrities like Kim Kardashian and Paris Hilton, as well as top NBA and NHL professional athletes have been targeted by criminal gangs. Even Warren Buffett once narrowly avoided a kidnapping in the 1980s.

With this in mind, downplaying your fortune could be the best way to safeguard your privacy and protect your family.

Another effective way to safeguard your wealth is by diversifying your investments across a range of asset classes. Gold, in particular, is considered a classic safe haven. During times of economic uncertainty, investors tend to flock to the asset — since it isn’t tied to any currency or economy.

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

Priority Gold is an industry leader in precious metals, offering physical delivery of gold and silver. Plus, they have an A+ rating from the Better Business Bureau.

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.

Broken relationships

Money undeniably affects personal relationships, particularly when loved ones are not on the same page about finances.

While it’s generally unwise to conceal your financial situation from a legal spouse, being more discreet with new friends or certain family members might be beneficial. According to a 2023 finance survey, around 57% of Americans admit to feeling envious of someone else’s financial status.

In some cases, keeping details about your income and wealth private could actually help preserve harmony in your relationships.

That said, it’s even more important to have a will and a revocable living trust in place. This creates clarity and removes the guesswork around how your assets will be distributed after you’re gone.

However, getting started can feel overwhelming. That’s probably why over 72% of Americans lack a valid will, according to Planned Giving.

With Ethos Will & Trust, you can create both a will and living trust online from the comfort of your own home in as little as 20 minutes. All documents created on the platform are vetted by experienced estate-planning attorneys — giving you complete peace of mind.

You can also make unlimited updates forever as your life changes, helping you protect your family without the price of an attorney.

You can create a will starting at just $149 and a living trust starting at just $349. And if you’re not happy with the results, you’re covered by a 30-day money-back guarantee.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

Avoid lifestyle creep

One of the downsides of flaunting wealth is that it can be hard to stop. After purchasing a luxury home or fancy car, scaling back might feel humiliating, creating pressure to maintain that lifestyle.

In effect, you’ve locked yourself into golden handcuffs — trapped by the need to keep up appearances. A smart way to avoid this kind of lifestyle creep is to live below your means and work with a financial advisor. A trusted, pre-screened financial advisor can help you develop a solid retirement strategy.

According to research by Vanguard, people who work with financial advisors see a 3% increase in net returns. This difference can be substantial over time. For instance, if you start with a $50,000 portfolio, you could potentially retire with an extra $1.3 million after 30 years of professional guidance.

Finding the right advisor for your needs is simple with Advisor.com. Their platform connects you with experienced, qualified financial professionals in your area who offer personalized guidance and support in managing market fluctuations and optimizing your portfolio mix.

Social isolation

Wealth can be isolating, according to therapists surveyed by CNBC.

“They live in such a rarified place of the top 1% where there are very few people who share the realities of their world,” said Paul Hokemeyer, the founding principal of Drayson Mews clinic.

Living a modest lifestyle allows you to stay grounded, nurture meaningful relationships, and maintain a sense of humility and relatability. As a high-net-worth individual, this doesn’t mean denying yourself luxury; it simply shifts the focus. Instead of indulging in overt displays of wealth, you might choose quiet luxuries, such as investing in fine art, over more conspicuous spending.

Art investment has emerged as a substantial asset class. The global art market size was valued at $552.03 billion in 2024 and is projected to reach $585.98 billion in 2025, according to Straits Research.

In the past, investing in fine art often required shelling out millions for a prized painting, making it challenging even for the ultra-wealthy.

Now platforms like Masterworks have opened the door to art investing, with over one million members now using the service.

Here’s how it works: Instead of spending millions on a single painting, you buy fractional shares of blue-chip paintings by iconic artists such as Pablo Picasso, Basquiat and Banksy.

All that’s left is to choose the number of shares you want to buy, and Masterworks handles everything else for you.

See important Regulation A disclosures at Masterworks.com/cd.

Better negotiating power

Whether you’re hiring a contractor, shopping for luxury goods or making a major real estate purchase, appearing wealthy can actually work against you. Sellers often assume you can afford to pay more, reducing your chances of scoring a deal or meaningful discount.

This approach — adjusting prices based on how much the seller believes a buyer can afford — is called price discrimination, a well-known concept in economics.

For that reason, keeping your financial status under wraps may offer a strategic advantage, helping you negotiate more effectively and secure fairer, more competitive pricing.

As a high-net-worth individual, maintaining discretion about your financial status not only enhances your ability to negotiate effectively and secure fairer prices but also opens doors to exclusive, institutional-grade investment opportunities.

As a high-net-worth individual, keeping your financial status discreet not only helps you negotiate more effectively and achieve fairer prices but also grants you access to exclusive, institutional-grade investments in real estate.

Real estate can be a solid way to build generational wealth. For the 12th year in a row, Americans have ranked real estate as the best long-term investment in 2024, according to a new Gallup survey.

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

For instance, 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 avenue is commercial real estate. With the help of First National Realty Partners (FNRP), you can invest in necessity-based commercial properties and potentially create lasting wealth for yourself and your family.

FNRP specializes in grocery-anchored retail centers leased by major national brands like Walmart, Kroger and Whole Foods, providing investors with potential steady cash flow through rental income and long-term appreciation.

As an accredited investor with a minimum of $50,000, you can access high-quality real estate investments without the hassles of property management.

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.

Imported household appliances that are made with steel parts — like washing machines, refrigerators and stoves — will be subject to President Trump’s expanded tariffs starting June 23, according to the Commerce Department.

This marks one of the first times that the administration has targeted everyday household products, and could mean higher prices for the average American household.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

The administration increased tariffs on foreign steel and aluminum to 50% from 25% on June 4. This is in addition to a baseline 10% tariff on imported goods from most countries, along with a 25% tariff on foreign-made cars and auto parts.

Many fear costs will continue to rise. Experts say that, regardless of any further actions from Trump, the prices of certain products and services are expected to rise significantly this year.

Here are five you should watch out for.

1. Homeowners insurance

U.S. homeowners’ insurers have hiked premium rates by double digits over the past two years. Premiums increased by 10.4% in 2024, following a rise of 12.7% in the previous year, according to S&P Global Market Intelligence. If you’re worried about affording your insurance policy, it’s a good idea to shop around for rates when your plan is set to renew.

OfficialHomeInsurance.com takes the hassle out of shopping for home insurance. In just under 2 minutes, you can explore competitive rates from top insurance providers, all in one place. OfficialHomeInsurance makes it easy to find the coverage you need at a price that fits your budget.

The side-by-side comparison is helping homeowners save an average of $482 on their home insurance policies.

Home insurance premiums aren’t the only thing coming out of homeowners’ pockets. If you own a car, you have another cost to deal with.

Car insurance rates rose an average of 16.5% in 2024 according to ValuePenguin. Shopping around and bundling your auto and homeowners’ insurance can lead to substantial savings.

OfficialCarInsurance.com lets you compare quotes from trusted brands, including Progressive, Allstate and GEICO, to make sure you’re getting the best deal. The matching system takes into account your location, vehicle details, and driving history to find you the lowest rate possible.

You can find deals starting at just $29 per month and switch over your policy in just a few minutes.

And if you have a furry friend, consider getting pet insurance to avoid expensive vet bills. 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.

BestMoney 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 their online marketplace.

Find offers starting at just $10 per month.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

2. Eggs

Eggs are a staple item in many people’s fridges. But in 2025, egg prices are expected to rise due largely to a wave of avian flu, plus the effects of Trump’s tariffs.

The impact is already being felt. While costs may vary depending on your location, the consumer price index reported that the price of a dozen large eggs reached $4.95 nationwide in January, up from $4.15 in December. Just a year ago, the average price was only $2.52 per dozen.

If your household uses eggs regularly, buying in bulk could be a potential way to save. Alternatively, check out local farms to see if they offer fresh eggs at a lower price compared to your nearby supermarket.

But here’s an even more creative way to save while spending: Make the most of your everyday shopping by automatically investing your spare change with Acorns.

The app automatically rounds up your everyday purchases to the nearest dollar and invests the difference into a diversified portfolio. This means that every transaction — from your morning coffee to grocery shopping and travel — contributes to building your savings.

For example, when you spend $5.40 on eggs, Acorns will automatically invest the 60-cent difference. These small amounts add up over time, ensuring you have enough savings for what may lie ahead with Trump’s tariffs.

3. Coffee

If you’re someone who can’t function without your morning dose of caffeine, here’s some bad news: The price of coffee rose more than 80% in 2024, according to The Wall Street Journal, surpassing a record set in 1977. And with concerns brewing about a weak 2025 harvest in Brazil, plus Trump’s tariff threats to Mexico, prices could easily follow a similar pattern this year.

A 2024 survey by Drive Research found that 73% of Americans drink coffee every day, and 51% purchase coffee outside the home at least once a week.

Little luxuries like café treats are often worth their extra cost if they boost your mood — but to keep them in your budget, you should look for ways to make your money work harder for you, so you can grow your nest egg.

You can easily compare multiple online banks offering high-yield savings accounts with 4% or more in annual interest in a matter of minutes. Many options now offer $0 monthly fees and don’t require a minimum balance to earn their high APY.

For example, you can open a high-yield checking and savings account with SoFi and earn up to 3.80% APY Plus, SoFi charges no account, monthly or overdraft fees.

The best part? You can get up to $300 when you sign up with SoFi and set up a direct deposit.

4. Streaming services

The cost of streaming services is increasing in 2025. YouTube TV raised its monthly rate to $82.99 from $72.99 in January. Netflix also followed suit by announcing price increases across all plans at the same time.

Most budgeting experts recommend an annual content audit to make sure you’re not paying for platforms you rarely use. According to a study by Bango, one-third of Americans pay for a subscription they don’t use. Another practical and long-lasting way to save is by keeping track of where your money is going.

However, budgeting can be challenging, especially when trying to track multiple accounts and daily expenses simultaneously. Monarch Money’s expense tracking system simplifies the process.

The platform seamlessly connects all your accounts in one place, giving you a clear view of where you’re overspending. It also helps you monitor your expenses and payments in real-time.

Whether you’re looking to save, invest, or simply control your spending, Monarch Money offers the tools to help you succeed. For a limited time, you can get 50% off your first year with the code NEWYEAR2025.

5. Travel

Travel is a luxury that a lot of people are willing to prioritize. But in 2025, it might cost you more to get away.

American Express Global Business Travel predicts prices on most routes involving U.S. airports will increase modestly, with domestic flights facing the biggest hikes.

Some of America’s top travel destinations are also introducing additional fees, as more countries in 2025 will require Electronic Travel Authorizations. These are permits travelers must pay for to enter visa-free countries, and they are linked to your passport.

To save on travel, aim to book your vacation at an off-peak time, which may depend on your destination. Travel booking site Kayak found that the cheapest month to travel in 2024 was February.

You can also save money by using the credit card that offers the most travel rewards and cash back. The challenge, however, is that searching for the right credit card can be overwhelming.

With CardRatings.com, the process is quick, easy and personalized. Whether you’re looking for cash back, travel rewards, a low APR or zero annual fees, their CardFinder tool matches you with the best offers from top providers.

The process is simple: First, share a few details about your preferences and credit profile. Next, a soft credit check is performed, which won’t affect your credit score. Finally, you can instantly compare and choose from a curated list of cards, complete with overviews of rewards, fees, and benefits.

CardRatings.com will help you find the perfect match and recommend a travel reward card that maximizes savings and benefits — all tailored to you.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

With over 30 years of fielding listener calls and cultivating a devoted audience, Dave Ramsey has become one of the rare experts truly in tune with the nation’s financial heartbeat. His company’s surveys and reports deliver unique insights into how Americans earn, save and spend their money.

Ramsey’s 2023 "Today’s Retirement Crisis" study based on a 2016 survey highlights a surprising statistic — 42% of Americans are not currently saving for the future. This is also reflected in the Fed’s 2022 Survey of Consumer Finances, which shows that only 54.4% of families had retirement accounts.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

"Even among savers, few are setting aside enough to afford a truly secure retirement. In fact, only one-in-10 Americans save 15% or more of their income — the amount industry experts recommend individuals set aside in order to build adequate savings — for retirement," according to the Ramsey Solutions study.

This “alarming” information could indicate that many people are facing dire retirement prospects.

“Instead of packing their bags for their dream vacations in their 60s and 70s, millions of Americans will be packing their lunch for another day at the office,” Ramsey’s team wrote in a March 2025 update on average retirement savings in the United States.

Nearly 60% of retired Americans say Social Security is a “major source” of their retirement income, according to Gallup. AARP estimates that monthly social security checks account for at least half of retirement income for 40% of retirees (aged 65 or above).

But these benefits are designed to replace just 40% of pre-retirement income. The estimated average monthly Social Security retirement benefit for May 2025 was $1,913.70, which translates to an annual income of less than $23,000 — much less than what a comfortable retirement would usually require.

What’s more, recent moves by the Trump administration have raised concerns about the future of Social Security payments. About 59% of non-retired Americans are worried that social security won’t be available by the time they retire, according to a survey from DepositAccounts.

Here are the three steps you can take to start stitching together a safety net that can protect your golden years.

1. Create a saving benchmark

The first step for anyone looking to retire with a comfortable nest egg is to set a benchmark for minimum monthly savings to help secure your future.

As of April 2025, the U.S. personal savings rate was just 4.9%, according to the Bureau of Economic Analysis. This is the ratio of personal savings to disposable personal income, and it is simply too low to fund a robust retirement. Ramsey recommends setting the benchmark significantly higher at 15% of gross income. This also assumes you already have an emergency fund and you’re out of debt.

For example, a person earning $100,000 a year who manages to save 15% of their income and invests it in an asset that delivers 10% returns annually could accumulate roughly $1.5 million within 25 years. This means it’s possible to retire as a millionaire even if you start saving and investing in your early 40s.

When the market shifts, investors of all stripes look for reliable and safe savings vehicles to cushion their nest egg. SoFi’s high-yield checking and savings account account is designed for those savers.

You could earn up to 4.00% APY on your savings. Plus, SoFi charges no account, monthly or overdraft fees.

The best part? You can get up to $300 when you sign up with SoFi and set up a direct deposit.

If you feel like you can’t set aside enough of your income to invest each month, you can still make your purchases productive with Acorns.

Acorns is an automated investing and saving platform that simplifies the process of setting aside extra funds.

By signing up and linking your bank account, Acorns automatically rounds up the price of each of your purchases to the nearest dollar and deposits the difference into a smart investment portfolio, allowing you to grow your wealth without even thinking about it.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

2. Max out tax-advantaged accounts

Reducing your tax liability could be just as important as maxing out your savings rate. Every penny saved in taxes is another penny that can be used to invest and compound your wealth over time.

For most people, the best way to mitigate taxes is to utilize tax-advantaged accounts like 401(k)s and Roth IRAs.

Unfortunately, many people neglect these accounts. About 40% of Americans don’t have a retirement savings account, according to a recent survey by Gallup.

As of year-end 2024, the average participant account balance was $148,153, while the median balance was just $38,176, according to Vanguard.

None of these balances is close enough to the estimated $1.26 million an average American needs to comfortably retire. But raising your contributions and maxing out these accounts can help you get ahead of your peers.

Another option to fund your retirement is investing directly in precious metals.

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

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.

3. Go beyond the bare minimum

Saving 15% of your gross income and maximizing your tax-advantaged accounts are the bare minimum for a comfortable retirement, according to Ramsey. However, if you’re looking to retire sooner, want a better lifestyle in retirement or simply waited too long to get started you may need to go beyond this minimum threshold.

Consider adding sources of passive income, such as rental property, to augment your annual earnings. 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 way to invest in real estate is by purchasing rental properties and becoming a landlord. But for the average American who wants to avoid the need for a hefty down payment or the burden of property management, crowdfunding platforms like Arrived make it easier to slice yourself up a piece of that pie.

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

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

Finally, it can’t hurt to cover your bases by regularly re-negotiating your salary, or looking for a lateral career change that can earn you more.

Regardless of your current financial situation, there are usually a few ways to make improvements and boost your chances of a successful retirement —- from investing to budgeting best practices.

What to read next

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

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

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

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• 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
• 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

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

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

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

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

More asset management firms offering private equity

Fink notes that up until recently, only wealthy people could invest in infrastructure projects like data centers, ports and power grids — let alone real estate or private credit.

That’s because they aren’t publicly traded on stock exchanges. This is where private equity comes in.

Fink’s firm is among a growing number of asset management companies — including Blackstone (BX), Apollo (APO) and KKR (KKR) — offering regular investors access to private equity.

To take the lead, last year BlackRock acquired Global Infrastructure Partners for $12.5 billion and data firm Prequin for $3.3 billion. The firm is also wrapping up a $12-billion deal for private credit company HPS Investment Partners.

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

What do these developments mean for your portfolio?

While private equity offers significant upside potential, it also requires a longer-term commitment and comes with higher risks than public equities.

BlackRock is almost singular in its investment power. But individual American investors can still access private equity through specific funds.

Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

For instance, real estate as an asset class offers portfolio diversification that can protect against stock volatility, bond sell-offs and public-market rumblings.

One option for investing in private equity is through Fundrise.

As America’s largest direct-to-consumer private markets manager, Fundrise gives you access to a portfolio of alternative investment opportunities spanning real estate, private credit and venture capital. The Fundrise Flagship Fund gives you exposure to over 4,700 single-family homes and 2,500+ residential properties.

With over two million investors and over $7 billion in real estate assets alone, Fundrise could be an accessible way to diversify your portfolio.

You can start investing in less than five minutes with as little as $10.

Investors looking to earn passive income through real estate-backed lending — without the hassle of property management — can also do so through private credit.

The Arrived Private Credit Fund presents the opportunity to invest in hand-picked real estate debt investments with a track record of generating risk-adjusted returns. The Private Credit Fund has historically paid an annualized dividend yield of 8.1%.

Backed by residential properties and personal guarantees, the fund provides investors with monthly payouts and flexible liquidity.

But, the U.S. home equity market also has a strong track record. This $36 trillion market has historically been the exclusive playground of large institutions.

Homeshares is changing the game by helping accredited investors 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.

The fund focuses on homes with substantial equity, utilizing Home Equity Agreements (HEAs) to help homeowners access liquidity without incurring debt or additional interest payments.

With risk-adjusted internal returns ranging from 12% to 18%, the U.S. Home Equity Fund could unlock lucrative real estate opportunities, offering retail investors a low-maintenance alternative to traditional property ownership — with a minimum investment of $25,000.

Investing in commercial real estate offers another unique opportunity to diversify your portfolio, potentially generate cash flow and build long-term wealth.

If you’re an accredited investor looking for institutional-level real estate opportunities, a platform like First National Realty Partners (FNRP) may be worth considering.

With a minimum investment of $50,000, accredited 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 leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

Weighing the benefits and risks of private equity in your portfolio

Fink suggested that the traditional 60/40 portfolio of stocks and bonds may no longer be enough to diversify effectively. Going forward, he sees a new standard: 50% in stocks, 30% in bonds and 20% in private assets like real estate, private credit and infrastructure.

While these new investment opportunities are exciting, it’s important to stay mindful of the risks.

To keep up with changes in private-market investments and diversification, consult trusted sources like the SEC for insights on investment risks and regulations, the U.S. Department of Labor for 401(k) guidance and FINRA for educational tools.

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

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 Advisor.com.

This online platform connects you with vetted financial advisors best suited to help you develop a plan for your new wealth.

Just answer a few quick questions about yourself and your finances and the platform will match you with an experienced financial professional. You can view their profile, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

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

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

Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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