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  • ‘You will pay more’: Dave Ramsey explains how Trump’s tariffs will impact Americans ‘on a personal level’ — says ‘there’s no question’ prices will go up. Here are 4 ways to help your wallet

    ‘You will pay more’: Dave Ramsey explains how Trump’s tariffs will impact Americans ‘on a personal level’ — says ‘there’s no question’ prices will go up. Here are 4 ways to help your wallet

    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.

    While global tensions rise and billion-dollar trade battles make headlines, Brianna from Washington, D.C., had a straightforward question for hosts of The Ramsey Show in a clip posted Feb. 24: "Can you explain how President Trump’s new executive order on tariffs will affect me on a personal level?”

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    As of April 10, the Trump administration has imposed a baseline 10% tariff on imported goods from most countries, along with a 25% tariff on steel and aluminum products, a 25% tariff on foreign-made cars and auto parts, and a minimum 145% tariff on a number of Chinese goods. There also may be more to come, as Trump put a 90-day pause on previously announced reciprocal tariffs.

    All of this activity has left many ordinary families wondering what it means for their household budget.

    Dave Ramsey and co-host Ken Coleman set clear expectations on tariffs: higher costs for everyone.

    Supercharging the cost of living

    Economists and financial experts broadly agree that the costs of trade barriers and import taxes are eventually passed along to consumers.

    “You will pay more, no question about it, 100%," Ramsey said. "Companies do not eat taxes.”

    For many Americans, these added costs come at a time when they’re already struggling with high living costs. The good news is that while the Tax Cuts and Jobs Act (TCJA) of 2017 is set to expire on Dec. 31, 2025, President Trump and Congress are considering extending the program.

    Either way, consumers should brace themselves for higher costs and more uncertainty in the months ahead. If you’re worried about your household budget, consider bolstering your savings and look for domestic alternatives for essential products.

    Here are our four top tips for coping with rising prices.

    1. Cut costs where possible

    This is a great time to review your budget and look for ways to trim your expenses. Even if your grocery bill is on the rise, some of your essentials may be available for cheaper than you’d think.

    For example, shopping around for better insurance rates could save you hundreds of dollars per year. OfficialHomeInsurance.com makes it easy and convenient to 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 want for the lowest possible cost. In just a few clicks, you could save roughly $482 a year. While you’re saving money on home insurance, you may 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 will also potentially save 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: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    2. Prioritize your emergency fund

    You probably already know that it’s recommended to have six months of expenses saved in your emergency fund. But with prices rising, it may be tempting to dip into that savings for purchases that aren’t real emergencies.

    To keep your resolve, make sure that cash is still making money by stashing it in a high interest savings account that you can watch grow every month.

    While the national interest rate average is an APY of 0.4%, online banks can offer you much more competitive returns, sometimes 10x more than the national average . So if you’re not shopping around for better rates, you’re leaving money on the table.

    Our top picks for Best High-Yield Savings Accounts of 2025 can help you compare your options and start building your cash reserve more efficiently.

    3. Pay off high-interest debt

    If you’re carrying credit card debt or other high-interest loans, you may be losing out on hundreds of dollars a month in interest fees. You can consider paying down this debt and getting more financial freedom with a reverse mortgage.

    Reverse mortgages let you tap into your home equity to supplement your income, pay off substantial debt or fund renovations. You can choose to borrow the funds as a lump sum or fixed monthly payment — and can spend it however you want.

    Check out this list of industry-leading companies offering reverse mortgages on Money.com.

    Compare offers instantly and request a free information guide to help you understand how to get started.

    4. Continue to invest

    While you may see some of your investments shrinking, a market downturn is a great time to begin investing — as the stock market is cyclical and stock prices have historically bounced back after major dips.

    If you’re new to investing and feel that you need a great deal of time or money to get started, you may be surprised to learn that you can open an investment account with pennies on the dollar — literally!

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

    When you sign up and link 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 for you, allowing you to grow your wealth without even thinking about it.

    Plus, if you sign up now, you can earn a $20 bonus investment.

    What to read next

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

  • This former minimum-wage worker retired at 39 with a $3.5M nest egg — now he’s an American expat living on $185K/year in Dubai. Here’s how he achieved freedom so early (and how you can too)

    This former minimum-wage worker retired at 39 with a $3.5M nest egg — now he’s an American expat living on $185K/year in Dubai. Here’s how he achieved freedom so early (and how you can too)

    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.

    Jamal Robinson didn’t come from money. He started at the bottom, working as a church janitor at 14 before landing a minimum-wage job at Taco Bell, working long shifts while also going to school.

    Today, at 40, he’s an American expat living among the glittering skyscrapers of Dubai.  He has a $3.5 million nest egg and is pulling in $185,000 a year using the 4% retirement income rule. His secret? Relentless saving, aggressive investing, and a laser focus on financial freedom.

    Don’t miss

    “I didn’t see a lot of people that were happy with work,” Robinson told CNBC. “In my mind, I always thought that it made the most sense to compress that amount of time in my life. So at 17, I set the goal to retire early at 45, which I wound up hitting six years earlier than expected.”

    Robinson’s journey from minimum-wage worker to multimillionaire retiree is an extraordinary anecdote of the FIRE movement (Financial Independence, Retire Early). Advocates of this approach make a ruthless commitment to saving and investing so that they can retire as young as possible.

    How Jamal did it

    After high school, Robinson hustled through college, earning a computer engineering degree at Tennessee Tech on a full-ride scholarship while working at the same time. Over time, with an MBA, nine certifications, and expertise in generative AI, he eventually reached an income of $1.1 million per year.

    But instead of chasing the next promotion, he chose financial freedom. Old habits die hard: As he progressed in the tech industry, Robinson banked huge sums — at one point socking away nearly 90% of his income. Then, in 2024, at just 39 years of age, he retired with $3.5 million in savings and investments. He now produces music and DJs in his spare time. He’s also writing a book and producing a podcast.

    Strategies to make anyone financially free

    Robinson’s hard-earned success may be an outlier, but it’s also a blueprint anyone can follow: finding a way to save small amounts while spending can also help boost your retirement portfolio. For instance, with Acorns, you can automatically invest spare change from everyday purchases into a smart investment portfolio of ETFs.

    While saving a few cents might not seem like much, thanks to the powers of compounding, you could save a sizable amount over time. For instance, investing just $3 each day can result in over $1,000 in a year — and that’s investment earnings.

    Get started with a $20 bonus investment when you sign up with Acorns today.

    If you want to diversify your portfolio further and invest in individual stocks, jargon-free expert advice from Moby might be beneficial.

    Run by a team of former hedge fund analysts, Moby’s stock picks have outperformed the benchmark S&P 500 index by an average of 11.95% per year in the last four years. Plus, more than 75 stock recommendations from Moby have generated returns of over 100%.

    Sign up today and become a wiser investor within minutes.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Jamal Robinson proved that directing extra income into investments can shave decades off your working years. The more you save now, the faster your money can work for you.

    Another crucial tip followed by most financial gurus is to not keep all your eggs in one basket. Especially in a volatile market, allocating a portion of your portfolio to tried-and-true assets that have withstood the test of time could help you secure your financial future.

    Gold has historically been one of the most popular safe-haven assets. Amid rising market volatility due to both recession concerns and escalating geopolitical tensions, gold prices hit a record high of $3,000 on March 13. The US stock market, on the other hand, has entered correction territory, losing $5 trillion in value in the last three weeks.

    So, adding gold to your portfolio can not only keep you safe but also add value.

    With a gold IRA, you can directly invest in physical gold without having to worry about authenticity or storage.

    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 and a 5-star rating from Trust Link.

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

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

    Real estate investments could also be a lucrative way to diversify your portfolio, and new investing platforms are making it easier than ever to tap into tthis market.

    For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

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

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

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

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

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

    Alternative assets like art could also be valuable additions to your portfolio. Art has historically been negatively correlated with stocks — meaning they go up in value during a market downturn.

    For decades, blue chip art was only accessible to the ultra-wealthy. In 2024, elite investors allocated as much as 25% of their total portfolios to art collections. But Masterworks is changing that. You can invest in fractional shares of works from artists like Banksy, Picasso, and Basquiat.

    From their 23 exits so far, Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% among assets held longer than a year.

    Get priority access and start investing in fine art within minutes.

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

    What to read next

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

  • Do you rely on your monthly Social Security check to get by? Here are 3 simple money moves for US seniors during Trump’s presidency

    Do you rely on your monthly Social Security check to get by? Here are 3 simple money moves for US seniors during Trump’s presidency

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

    Many Americans are heavily reliant — even solely reliant — on their Social Security benefit to get by in retirement.

    More than half of non-retired Americans (53%) expect to rely on their benefit to “pay their necessary expenses once they retire,” according to a survey from Bankrate. This includes 28% of Americans who expect to be “very reliant.” Of those already retired, 77% say they rely on Social Security for necessary expenses.

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    President Trump has promised to protect Social Security, but has also floated the idea of cutting taxes on Social Security benefits. This means baby boomers could get a bump in the short term, but experts predict this could speed up its insolvency.

    So, no matter what happens (or doesn’t happen), it may be a good time to take control of the reins for your retirement.

    Here are three money moves you can consider that will possibly provide more financial stability in retirement and reduce your reliance on Social Security.

    1. Max out your retirement savings

    Some financial experts, like founder of Financial Samurai Sam Dogen, say you should aim to max out your tax-advantaged retirement vehicles. “Hopefully, it’s something that becomes automatic, and you’re not going to touch it until you’re 59½,” he said to CNBC. This will help you set yourself up for a comfortable retirement.

    However, as Dave Ramsey’s Ramsey Solutions points out, you should avoid doing this if you’re still getting out of debt, don’t have money saved for emergencies or are saving up for other financial goals.

    Only 15% of private sector workers had access to a defined benefit retirement plan as of 2023, according to the U.S. Bureau of Labor Statistics. 67% have access to a defined contribution plan, such as a 401(k). For those who don’t have access to either, there are other options available to help you save.

    For example, an individual retirement account (IRA) is a tax-advantaged savings account that can help you save for retirement. With a traditional IRA, contributions are tax-deductible; you pay taxes upon withdrawal – ideally when you’re in a lower tax bracket. With a Roth IRA, you pay the taxes upfront, but investment growth and withdrawals are tax-free once you reach age 59½. For 2025, the contribution limit is capped at $7,000 (or, if you’re 50+, at $8,000), and you have until Tax Day in April to top it up.

    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 and a 5-star rating from Trust Link.

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

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

    2. Capitalize on lower taxes — while you still can

    In 2017, the Trump Administration passed the Tax Cuts and Jobs Act (TCJA). While this law is complex, it essentially provided for a number of tax breaks and deductions, many of which are scheduled to sunset in 2025. However, President Trump has said he plans to extend these tax cuts.

    In the meantime, it may make sense for you to convert a tax-deferred retirement account into a Roth IRA if you expect the tax rate on the converted amount to be higher in the future.

    “One reason to consider a Roth conversion this year or next: Without further action from Congress, tax rates are set to rise with the sunsetting of the 2017 Tax Cuts and Jobs Act at the end of 2025,” according to Fidelity. “Although the new administration and many Congressional Republicans support an extension of the current lower tax rates, record debt and deficits could complicate a full extension.”

    “In the meantime, a Roth conversion at current lower rates could reduce taxes on the conversion, and allow for qualified distributions in retirement that are tax-free.”

    This should be done over time so you don’t end up getting bumped into a higher tax bracket. Whether this strategy is right for you depends on your financial situation, so it’s worth talking to [a financial advisor]https://moneywise.com/c/1/410/1777?placement=4) about your options for capitalizing on lower taxes.

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

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

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

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    3. Contribute to an HSA

    Even with Medicare, retired Americans can expect to spend a chunk of money on healthcare throughout their golden years. Medicare doesn’t cover premiums or deductibles and other out-of-pocket costs, nor does it cover long-term care.

    For example, a 65-year-old retiring in 2024 can expect to spend an average of $165,000 in health care and medical expenses throughout retirement, according to Fidelity’s annual Retiree Health Care Cost Estimate. Unfortunately, Fidelity research found the average American estimates these costs will be about $75,000 — less than half the amount it calculated.

    If you’re relying on Social Security to get by, unexpected medical costs could leave you stretched thin. One way to save for these additional costs in retirement is to enroll in an eligible High Deductible Health Plan (HDHP) and open a Health Savings Account (HSA).

    An HSA has three big tax benefits: contributions are tax-deductible, the money can be spent tax-free for qualifying healthcare expenses and any investment growth in your account is tax-free.

    You cannot contribute to your HSA once you enroll in Medicare at age 65, so you may want to max out contributions to your HSA until then.

    “While your HSA can’t pay your premiums, it exists as an emergency fund for health care, and maxing it out can leave you better prepared for large out-of-pocket medical bills,” says Experian author Emily Starbuck Gerson. “There is a risk of saving more than you need, and later wanting that money for other purposes. You can’t withdraw that money penalty-free until after age 65, and even then, you’ll still owe taxes on non-qualified expenses.”

    Many people combine the benefits of an HSA with a traditional health insurance policy to manage their health care expenses.

    But searching through numerous websites to find the most affordable health insurance can be overwhelming.

    With U65 Health Insurance, however, you can quickly compare rates from various providers and get the cheapest quote in less than five minutes.

    Finding an affordable health insurance policy through U65 Health Insurance is easy, fast and free. They cover any American under the age of 65, including those who might have pre-existing health conditions.

    What to read next

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

  • Charles Barkley says Michael Jordan gave him 1 golden financial tip in his early NBA days that made him millions — here is the big money move and how you can use it to get rich, too

    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.

    Young athletes have been known to blow through their first big paycheck. Former NBA star Charles Barkley almost did, too — until Michael Jordan gave him one life-changing financial tip.

    In an episode of The Steam Room podcast, Barkley says he and Jordan were about to sign endorsement deals with Nike at roughly the same time. Barkley’s deal was originally for $3 million, but before he signed on the dotted line, Jordan asked him one simple question: "Hey man, why you need all that money?"

    Don’t miss

    The conversation led Barkley to make a decision that could have cost him millions, but instead made him a fortune. Here’s the game-changing money move that he learned from Jordan, and how you can apply it to your own wealth-building strategy.

    Equity over cash

    Although $3 million was no small sum, Jordan recognized that with the right strategy, Barkley could turn it into something much bigger. He told Barkley to renegotiate his contract and take only $1 million in cash and the rest in Nike stock options.

    After a brief discussion with his team, Barkley took the advice and set himself up for an immense windfall down the road. “I actually made probably 10 times that amount of money and I’m still with Nike to this day,” Barkley proudly proclaimed.

    Barkley didn’t mention if he still holds his Nike stake, but the stock is up a jaw-dropping 4,000% since his signature basketball sneaker, the Nike Air Force Max CB, debuted in 1994. His story highlights how gaining equity can be far more lucrative than a quick cash payout, especially when it’s tied to a strong, growing business.

    Here’s how you can apply this lesson to your investment strategy.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Aiming for long-term growth

    Like Jordan and Barkley at the dawn of their respective careers, young investors should be more focused on capital appreciation and growth rather than immediate cash flow.

    This is why some financial advisors recommend using the Rule of 100 for age-appropriate asset allocation. To use this rule, subtract your age from 100 and the remainder represents the percentage of your portfolio that you should invest in stocks. So, if you’re 30 years old, you would set aside 70% of your portfolio for stocks while 30% can be allocated to safe havens such as bonds.

    Another way to prioritize growth is to set aside a portion of your paycheck to invest in stocks every month. As of January, 2025, the personal savings rate is 4.60%, according to the Federal Reserve. By saving a greater portion of your income — say 15% — you could reach your financial goals faster.

    However, given the current economic climate, many don’t have enough savings at the end of each month to invest in stocks.

    But that doesn’t mean you  can’t harness the power of compounding interest.

    Rather than aiming to save up 15% of your paycheck each month, you could turn your spare change from everyday purchases into an investment opportunity with Acorns instead.

    Here’s how it works: Once you link your debit and credit cards Acorns will round-up every purchase you make to the nearest dollar and set aside the excess. When the balance reaches $5 Acorns will then invest it in a smart investment portfolio comprising diversified ETFs.

    This way you can turn everyday purchases like a $4.25 cup of coffee into a $0.75 investment in your future. Just $3 worth of daily round-ups means  $1,000 in savings in a year — and that’s before compounding.

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

    Meanwhile, young investors with a higher appetite for risk could instead focus on growth stocks rather than dividend-paying, blue-chip stocks.

    If you want to begin investing in individual stocks, but don’t know where to start, consider consulting experts at Moby.

    Founded by a group of former hedge fund analysts, Moby aims to help investors find undervalued stock picks that could potentially deliver multi-bagger returns. To do so Moby delivers hedge-fund level stock market analysis in plain English straight to your inbox.

    Moby has a pretty successful track record — over the past four years, its stock picks have outperformed the S&P 500 index by 11.95%. And that’s over the index’s annualized returns of roughly 10% per year.

    What’s more, over 75 stock recommendations from Moby have delivered returns of over 100%.

    Sign up today and become a smarter advisor within minutes.

    What to read next

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

  • How much is the average Social Security check of a middle-class retiree?

    How much is the average Social Security check of a middle-class retiree?

    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.

    Social Security is an important piece of the retirement puzzle, particularly for middle-class retirees who count on the safety net to supplement their post-career income.

    But if you see Social Security as an income centerpiece, not just icing on the cake, a closer look at the numbers may prompt you to think again.

    U.S. Census Bureau data from 2022 shows the national middle-class income range is between $49,271 and $147,828 — a span heavily influenced by location and cost-of-living considerations.

    Don’t miss

    The Bureau says the median household income in the U.S. that year was $74,580. A 55-year-old earning that amount today and planning to take Social Security at age 62 would get an estimated monthly benefit of about $1,869 a month — or $22,428 a year. (This figure was reached using the AARP’s Social Security calculator.)

    Presuming the retiree has no savings and would rely on Social Security alone, that’s dangerously near the U.S. Department of Health and Human Services’ 2024 poverty line ($15,060) for one person.

    Social Security benefits vary greatly but generally depend on how long one is willing to defer their benefit. Planning for a retirement that doesn’t count on Social Security, some argue, makes sense given persistent questions about the safety net’s sustainability.

    Getting more from Social Security

    Getting the most from Social Security comes down to strategy, forethought and planning — along with a decent understanding of how the system works. Here are several strategies middle-class retirees can employ to increase their benefits:

    Delay claiming benefits

    While starting your Social Security draw early may make sense in some scenarios, the most effective way to increase your monthly check is to delay the benefit.

    While retirees can start receiving benefits as early as age 62, doing so results in a reduced monthly benefit. Each year you wait, up until age 70, significantly increases the benefit amount.

    Those looking to incorporate precious metals into their retirement strategy can benefit from modern investment solutions, like those offered by companies like American Hartford Gold.

    American Hartford Gold is a leading precious metals dealer – allowing you to invest directly in gold or silver.

    With secure storage, expert guidance, and customizable investment plans, American Hartford Gold helps investors diversify their portfolios while protecting against inflation. Gold IRAs provide a tangible safeguard for retirement savings, combining financial security with significant tax advantages, making them an appealing choice for long-term wealth preservation.

    Consider the tax consequences

    Social Security benefits can be taxable depending on the retiree’s total income. It’s essential to understand how other sources of income, such as pensions or investment withdrawals, impact the taxability of Social Security benefits. Proper tax planning can help minimize Uncle Sam’s share of your money.

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

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

    Explore other investments and savings vehicles

    While maximizing Social Security is important, it should be part of a broader retirement strategy. Middle-class retirees should also consider other sources of income, such as part-time work, rental income and investments to supplement their Social Security benefits.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Investing

    Both residential and commercial real estate have long been solid choices for investors looking to diversify and add stability to their portfolios — especially while saving for retirement. Since having a place to live is essential, real estate remains a stable, relevant asset.

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

    For accredited investors, Homeshares gives access to the $36 trillion U.S. home equity market, which has historically been the exclusive playground of institutional investors.

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

    With risk-adjusted internal returns ranging from 12% to 18%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

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

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

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

    For example, First National Realty Partners specializes in grocery-anchored commercial real estate properties with historically strong return potential.

    FNRP has developed relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods, and provides insights into the best properties both on- and off-market.

    If you’re a newer investor, it’s normal to feel overwhelmed by the prospect of getting into investing, especially if your retirement fund is riding on it. That being said, investing doesn’t have to be all that complex with platforms like Acorns which put your investments on autopilot.

    Once you’ve downloaded the app and linked your bank account, Acorns will round up every purchase you make to the nearest dollar and invest the spare change into a diverse portfolio of ETFs. That way, you can work towards your savings goals a few cents at a time — without even thinking about it.

    Saving

    Saving for retirement is no small feat, but using the right savings vehicles can take a bit of the pressure off.

    You might also consider checking out the Moneywise list of the Best High Yield Savings Accounts of 2025 to find some great options that can earn you more than the national average of 0.45% APY.

    What to read next

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

  • Here are 5 simple signs that someone is secretly broke in America — do they apply to the people around you?

    Here are 5 simple signs that someone is secretly broke in America — do they apply to the people around you?

    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.

    It’s natural to be curious about how well off — or not — our friends, neighbors and peers are. And for better or worse, social media makes it easy to satisfy this curiosity. You may be inclined to assume that the folks you interact with on a regular basis are doing quite well financially. However, social posts focus on the positive, which can make it appear as though they have more money than they actually do.

    With this in mind, here are a few signs that may indicate the people you know are actually broke — or that you’re headed down a similar path.

    Don’t miss

    1. They don’t have an actual financial plan

    When you head out on a road trip without directions, you risk getting lost along the way. Similarly, if you go through life without a financial plan, you risk winding up broke — or if not broke, at the very least, shy of your financial goals.

    A 2024 Northwestern Mutual survey found that 55% of Americans don’t have a broad financial plan that allows them to balance their near-term and long-term goals. If that’s the case for you, it’s a good idea to talk to a financial advisor and get on a better path.

    Finding a financial advisor that suits your specific needs and goals is simple with Vanguard.

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

    With a minimum portfolio size of $50,000, this service is best for clients who already have a nest egg built and would like to try to grow their wealth with a variety of different investments. All you have to do is set up a consultation with a Vanguard advisor, and they will help you set a tailored plan and stick to it.

    2. They spend a lot on brand names

    It’s okay to splurge on a quality item from time to time, especially if it’s something that helps you earn money, like a laptop you use for your job. But if you feel compelled to only buy brand names — and the fanciest ones at that — you’re more likely to end up in a bad place financially.

    This may be why total U.S. household debt has jumped by $93 billion to reach $18.04 trillion, according to the Federal Reserve.

    If you want to avoid becoming broke, don’t buy things — whether it’s a car, a house, or clothing — with the goal of showing off. Instead, buy things with the goal of addressing your needs as economically as possible.

    When you do spend, you can also be smarter with your money by automatically investing your spare change with Acorns.

    The app rounds up each of your everyday purchases to the nearest dollar and invests the difference in a diversified portfolio. This means that every transaction — from your morning coffee to grocery shopping — contributes to building your retirement nest egg.

    For example, when you spend $3.60 on coffee, Acorns will automatically invest the 40-cent difference. Plus, with an Acorns Silver plan, you get access to Acorns Later, a retirement investment account with a 1% IRA match on new contributions. With Acorns Gold, you get a 3% IRA match on new contributions and the ability to customize your portfolio by selecting your own stocks.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    3. They confuse income with wealth

    One mistake people make all the time is figuring that because they earn a lot, they can afford to spend a lot. In reality, if you don’t keep any of your income, you’re going to end up broke.

    A 2024 PYMNTS survey found that 48% of people earning more than $100,000 a year live paycheck to paycheck with no money in savings to fall back on. And the same holds true for 36% of people earning more than $200,000 a year.

    Another big mistake most Americans make is leaving their money in low-interest savings accounts. More than 82% of the population is missing out on high-yield savings accounts, which offer returns up to 10 times higher than traditional banks, according to CNBC.

    A healthy savings account balance gives you the funds to handle unexpected expenses and save for retirement, all without going into debt. If you’re looking for the best bank for your savings, compare and select from the Moneywise list of the Best High-Yield Savings Accounts of 2025.

    4. They lack financial discipline

    People who are secretly broke tend to give in to impulse purchases rather than planning and budgeting. Worse yet, they tend to use credit cards to fund impulse purchases, driving themselves even deeper into debt.

    While occasional impulse buys may not break the bank, making a habit of them can seriously harm your finances. Instead, focus on budgeting and being intentional with your spending.

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

    The platform seamlessly connects all your accounts in one place, giving you a clear view of where you’re overspending. Whether you’re looking to save, invest, or simply control your expenses, Monarch Money offers the tools to help you succeed. Plus, for a limited time, you can get 50% off your first year with the code NEWYEAR2025.

    5. They keep chasing get-rich-quick schemes

    There are certain tried and true methods of growing wealth over time. These include buying a home and seeing its value increase, investing in stocks and holding them for decades, and putting money into bonds for slower but stable returns.

    Chasing get-rich-quick schemes, on the other hand, is a good way to end up with less money rather than more.

    Even short-term stock investments can be risky, as it often takes time for stocks to increase in value. So, instead of trying to make a quick buck, focus on ways to grow your net worth slowly but consistently, such as taking advantage of compound interest.

    With Wealthfront’s automated investing platform, the power of compound interest works for you. Their sophisticated "set it and forget it" approach means your money is professionally managed and automatically rebalanced, allowing your wealth to grow steadily over time.

    Start investing for the long term with globally diversified portfolios or go for a higher yield than a traditional savings account with an automated bond portfolio.

    Open your account today and receive a $50 bonus to jumpstart your investment journey. Whether you’re saving for retirement, a home, or building generational wealth, Wealthfront’s low-cost, automated investment strategy can help you achieve your financial goals.

    What to read next

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

  • Home prices keep climbing, but a sea change may be coming — will buyers finally catch a tailwind and sail ahead, or are sellers at risk of being dead in the water?

    Home prices keep climbing, but a sea change may be coming — will buyers finally catch a tailwind and sail ahead, or are sellers at risk of being dead in the water?

    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.

    Like an island on the horizon, owning a home has never felt more out of reach. Year after year, home prices have climbed higher, leaving many buyers fighting a headwind, wondering if they’ll ever catch a break.

    In January, the S&P CoreLogic Case-Shiller Index — a key measure of national home prices — jumped another 4.1% year-over-year. February wasn’t any kinder, with the National Association of Realtors (NAR) reporting a 3.8% annual increase in the cost of existing homes.

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    But could relief finally be on the way? Housing inventory appears to be on the rise, which could lead to lower home prices. Several major real estate organizations — including Fannie Mae, the Mortgage Bankers Association and the NAR — expect home price growth to slow in 2025.

    This could benefit buyers, but it’s something sellers should keep in mind.

    Why homebuyers could see relief

    One big reason home prices remain high is limited inventory. When supply is scarce prices tend to rise.

    In February, housing inventory climbed 5.1% from the previous month and 17% year over year, according to the NAR. This growing supply could help stabilize or even reduce home prices. Many homeowners have been reluctant to sell in recent years due to high mortgage rates.

    However, mortgage rates have fallen or remained flat since January. What’s more, the Federal Reserve announced a steady overnight interest rate of 4.25% to 4.5% on May 8, which indirectly impacts variable mortgages.

    But if recession fears continue to mount, owners who need to immediately sell could face declining home prices. While this could provide relief to potential buyers — the housing market could still stall as people wait out the economic uncertainty.

    How homeowners can prepare

    While U.S. home prices are unlikely to plummet, inventory is gradually normalizing.

    Some experts worry that factors such as tariff policies could fuel an economic recession, potentially dampening homebuyer demand and pushing home values downward. Some markets — particularly major job hubs — may be more insulated from these effects. However, all homeowners should be prepared.

    As of the third quarter of 2024, the average U.S. homeowner had approximately $311,000 in home equity, according to CoreLogic.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    If you’re a homeowner, you may want to capitalize on the equity you have now — and protect yourself against a potential recession — by applying for a home equity line of credit (HELOC).

    A HELOC could be a more flexible option than a home equity loan since it doesn’t require immediate installment payments. Instead, homeowners can access funds as needed.

    Depending on the value of your home and the remaining balance on your mortgage, you may be able to borrow funds at a lower interest rate from a lender as a form of revolving credit.

    Rather than juggling multiple bills with varying due dates and interest rates, you can consolidate them into one easy-to-manage payment. The results? Less stress, generally reduced fees and the potential for significant savings over time.

    LendingTree’s marketplace connects you with top lenders offering competitive HELOC rates. Instead of going through the hassle of shopping for loans at individual banks or credit unions, LendingTree lets you compare multiple offers in one place. This helps you find the best HELOC for you.

    Should you sell now?

    The answer depends on your situation.

    Selling before prices drop could allow you to lock in a higher sale price. If you’re planning to move, you’ll likely pay more for your new property — potentially at a higher mortgage rate.

    That said, now could be a good time to sell if you’re downsizing, especially if you won’t need to take out a mortgage on a smaller or less expensive home.

    If you’re in the market for a new home, Mortgage Research Center (MRC) can help you quickly compare rates and estimated monthly payments for your new mortgage from multiple vetted lenders. All you have to do is enter some basic information about yourself: your zip code, desired property type, price range and annual income.

    Based on the information you provide, MRC will show you mortgage offers tailored to your needs so you can shop for a mortgage with confidence.

    After you match with a lender, you can set up a free no-obligation consultation to see if you’ve found the right fit.

    Ultimately, no one has a crystal ball to foresee when the right time to sell will be based on current market conditions. But another factor to consider is the possibility of a recession.

    A recent Deutsche Bank survey puts the probability of a U.S. recession within the next 12 months at 43%. If you can afford your current home, it may be wise to sit tight rather than take on the financial burden of a more expensive home amid uncertain economic conditions.

    Invest in the multi-trillion home equity market

    If you’re not ready to sell, or you don’t own a home, you can still cash in on rising home prices by investing in the real estate market.

    While the $36 trillion home equity market has historically been the exclusive playground of large institutions, Homeshares is changing the game by allowing accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities — without the headaches of buying, owning or managing property.

    Homeshares’ U.S. home equity fund focuses on houses with substantial equity, using Home Equity Agreements (HEAs) to help homeowners access liquidity without incurring debt or additional interest payments.

    With a minimum investment of $25,000, this approach provides a hands-off way to invest in high-quality residential properties with the added benefit of diversification across regional markets.

    Even better, Homeshares can offer risk-adjusted target returns ranging from 14% to 17%. This can make for a good low-maintenance alternative to traditional property ownership.

    What to read next

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

  • Utah couple were both fired from their IRS jobs as part of DOGE cuts — husband says it was his ‘retirement plan.’ Here’s how to protect (and grow) your nest-egg even without a job

    Utah couple were both fired from their IRS jobs as part of DOGE cuts — husband says it was his ‘retirement plan.’ Here’s how to protect (and grow) your nest-egg even without a job

    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.

    Hundreds of Ogden, Utah IRS employees are expected to be laid off in the coming months, reports KUTV. The layoffs are part of President Donald Trump and DOGE’s plan to slash federal spending by dramatically cutting the federal workforce.

    The Trump administration has already fired over 7,000 employees from the IRS and plans to cut 11,000 more by May 15 — in line with its goal to reduce the department’s workforce by 50%. All told, there were 280,253 layoffs across 27 federal agencies in February and March.

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    “This was going to be my retirement plan,” one probationary IRS employee, who did not want to be identified, told KUTV reporters. “My wife is going to be fired too, so it’s going to affect my entire family.”

    Industry layoffs could impact retirement plans

    The rolling announcement of layoffs in federal departments has left many employees, including those nearing retirement, facing uncertainty about their financial future.

    In the latest round of layoffs, the Trump administration fired roughly 90% of the Consumer Financial Protection Bureau’s workforce, or 1,500 employees — a move that’s currently blocked by a Washington D.C. district judge

    Federal and state government jobs are often seen as stable employers with generous benefits. Government employees tend to take on lower salaries in exchange for stronger job protections compared to the private sector.

    For the thousands of workers facing unexpected layoffs, the financial impact — especially on retirement savings — could be significant.

    Here are a few steps to keep your retirement savings on track.

    Don’t remove retirement savings from retirement accounts

    It can be tempting to dip into retirement savings after a layoff, but this can have a long-term impact on your golden years. Withdrawing from retirement accounts can lead to significant tax liabilities and penalties. It also disrupts the long-term growth potential of your savings.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Instead, make sure to apply for unemployment and try to negotiate a severance package.

    Consider rolling retirement savings over into an IRA.

    If you currently have a 401(k), consider rolling your savings into an Individual Retirement Account (IRA) or a new employer’s retirement plan, which allows your investments to continue growing tax-deferred. Rolling over, rather than withdrawing, doesn’t create a taxable event or require you to pay a penalty.

    This move can provide more control over your funds and a broader range of investment options.

    You can invest in safe-haven assets like gold by opening a gold IRA with the help of Priority Gold. This will help you combine the tax advantages of an IRA account with the recession-resistant properties of gold.

    You can also roll over your existing IRA into a gold IRA. Having your funds in one account can reduce administration fees, as you’ll only have one account.

    Priority Gold’s experts can help you every step of the way — from choosing a custodian to finding an IRS-approved depository to store your gold.

    What’s more, you can get up to $5,000 in complimentary silver on qualifying purchases and a free wealth preservation guide when you sign up.

    Pull a small amount for emergencies, if you must — but put it back as soon as possible.

    New IRS rules allow taxpayers to pull up to $1,000 from their retirement savings tax-and penalty-free. This could help some laid-off workers bridge the gap between jobs. However, that $1,000 might also grow exponentially with a little bit of careful investing.

    Consider creating an emergency fund with at least six months of living expenses instead.

    Rather than keeping the money in your savings account, opening a high-yield savings account with little to no fees allows you to enjoy the benefits of compounding interest.

    As of April 21, the national average interest rate offered by savings accounts was 0.41%.

    Wealthfront’s high-yield cash account, on the other hand, offers 4.00% APY on deposits. What’s more, the account offers instant withdrawals with zero maintenance fees — making your money work harder for you.

    Even better — you can get started with just $1.

    If you want to compare your options, check out Moneywise’s best high-yield savings accounts of 2025 to make the most of your money.

    Keep building

    Layoffs are challenging, especially when they disrupt long-term plans, as they have for federal employees across the country. But by making informed decisions and leveraging your resources you can navigate the challenge without setting back your retirement goals.

    While you’re looking for work, it might still pay to squirrel away a little each day to keep up with your long-term investment goals.

    One option is to automatically invest spare change from everyday purchases into a smart investment portfolio of diversified ETFs with Acorns.

    Here’s how it works: Anytime you make a purchase with your linked debit or credit card, the amount will automatically be rounded up to the next dollar, and the spare change is set aside.

    For instance, when you buy a coffee for $4.25, Acorns will round up the purchase to $5 and set aside the 75-cent difference. Once the savings reach $5, it’ll be deposited into your smart investment portfolio.

    And you’re not limited to spare change. You can also automate investing as part of your paycheck in low-cost diversified ETFs on a monthly basis.

    The best part? You can get a $20 bonus investment when you sign up with Acorns.

    What to read next

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

  • ‘I learned the hard way’: Dave Bautista said his house was foreclosed on and he ‘lost everything’ after leaving WWE — but got the ‘best’ money advice from ‘The Undertaker’

    ‘I learned the hard way’: Dave Bautista said his house was foreclosed on and he ‘lost everything’ after leaving WWE — but got the ‘best’ money advice from ‘The Undertaker’

    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.

    Dave Bautista is among the few professional wrestlers who successfully transitioned to a career in Hollywood. Millions of fans followed his journey from the ring to the silver screen, yet they may be unaware of his struggles with money.

    “I came out of wrestling – I literally lost everything. My house got foreclosed on,” he shared in an interview with YouTube’s School of Hard Knocks posted on Sept. 29.

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    Bautista, who was known as "Batista" in the WWE, credits fellow wrestler Mark “The Undertaker” Calaway with helping him realize one of the secrets to financial success is living below your means.

    “[It was] the best advice that I ever got,” Bautista said. “I learned the hard way.”

    But you don’t need to be an ultra-high earner to see the wisdom in Calaway’s advice. Here’s how you can use this basic principle to boost your financial position.

    Prioritize needs over wants

    Differentiating between what’s necessary and what’s simply tempting is a key part of living within your means. Bautista agrees.

    “I know I can live more lavishly, more luxuriously,” he said. “That money in the bank means more to me than something I don’t really need.”

    By resisting indulgences, you could limit your chances of overspending and overborrowing, putting you on a clearer path to financial freedom. But it’s easier said than done. According to a survey conducted by Clever Real Estate, 74% of those surveyed reported having a spending problem, with 55% admitting that they often spend recklessly.

    If you find it difficult to stop overindulging, you can start by building savings habits into everyday spending. With Acorns, you can automatically invest spare change from your everyday purchases into a diversified portfolio of ETFs managed by experts at leading investment firms like Vanguard and BlackRock.

    For instance, if you buy a donut for $3.25, Acorns will round up the purchase to $4 and invest the change in a smart investment portfolio. So a $3.25 purchase automatically becomes a 75-cent investment into your future.

    Sign up today and get a $20 bonus investment.

    Add a margin of safety to your budget

    Sticking to a budget may seem like common sense, but 51% of Americans confessed to overspending to impress someone else, according to a 2024 survey commissioned by LendingTree. Among those who overspent to show off, 56% admitted it drove them into debt.

    Since it’s common to go over your budget, it makes sense to add a margin of safety. If you assume that all your expenses will be 10% to 15% higher, for example, you can limit the chances of overspending and relying on credit.

    In cases where exceeding your budget is a necessity rather than a compulsion, it pays to have an emergency fund to fall back on. Stashing away three to six months’ worth of expenses can help you stay afloat if your life takes a sudden financial downturn.

    If you’re looking for a way to grow your money steadily over time, a certificate of deposit (CD) could be a smart choice. CDs offer a fixed interest rate for specific terms, allowing your savings to grow more efficiently. Just keep in mind that if you need to withdraw your funds before the term is up, you’ll likely face a penalty fee.

    If you’re looking for safe, high-return options, certificates of deposit (CDs) are a great choice, and SavingsAccounts.com makes finding the best ones easy. Their comparison platform provides real-time data on CD rates and terms from various banks, offering tailored recommendations to maximize returns.

    Ideal for conservative savers and long-term planners, this tool simplifies the decision-making process, helping you grow low-risk, high-return investments without the stress.

    If you’re looking to build an emergency savings fund, a high-yield savings account is another possible place to begin. While the national interest rate average is an APY of 0.4%, online banks can offer you much more competitive returns – in some cases up to 10x more.

    You can check out the Moneywise list of the Best High-Yield Savings Accounts of 2025 and find an offer that fits with your savings goal.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Avoid or minimize credit

    Any form of credit can allow you to spend beyond your means. American households collectively had $17.94 trillion in debt as of the third quarter of 2024, according to the Federal Reserve Bank of New York. That includes $1.17 trillion in credit card debt — a record high.

    If you carry credit card debt from month to month, you’re not the only one. According to a November 2024 survey from Bankrate, nearly 53% of respondents were in credit card debt for at least one year. With rates averaging over 20%, it can pile on before you even realize it.

    Paying down debt — especially if it comes with a high interest rate — could put you on solid footing. One way to achieve this is to consolidate your debt using a home equity line of credit (HELOC).

    A HELOC is a secured line of credit that leverages your home as collateral. Depending on the value of your home and the remaining balance on your mortgage, you may be able to borrow funds at a lower interest rate from a lender as a form of revolving credit.

    Rather than juggling multiple bills with varying due dates and interest rates, you can consolidate them into one easy-to-manage payment. The results? Less stress, generally reduced fees, and the potential for significant savings over time.

    LendingTree’s marketplace connects you with top lenders offering competitive HELOC rates. Instead of going through the hassle of shopping for loans at individual banks or credit unions, LendingTree lets you compare multiple offers in one place. This helps you find the best HELOC for your situation.

    Terms and conditions apply. NMLS#1136.

    What to read next

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

  • ‘I work for a living’: Whoopi Goldberg says she relates to Americans ‘having a hard time’ — admits she’d leave ‘The View’ if she had ‘all the money in the world’

    ‘I work for a living’: Whoopi Goldberg says she relates to Americans ‘having a hard time’ — admits she’d leave ‘The View’ if she had ‘all the money in the world’

    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.

    Whoopi Goldberg has been co-hosting ABC’s “The View” since 2007, making her the longest serving member on the successful daytime show’s panel. However, the celebrated actor and comedian with EGOT status has admitted on the show that her tenure would have ended sooner if she had more money and that she isn’t immune from the financial pressure most Americans face.

    “I appreciate that people are having a hard time. Me too. I work for a living,” she said. “If I had all the money in the world, I would not be here, OK? So, I’m a working person, you know?… My kid has to feed her family. My great-granddaughter has to be fed by her family. I know it’s hard out there.”

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    Goldberg’s admission of financial strain might come as a surprise given that CelebrityNetWorth estimates her net worth at $30 million. At age 69, Goldberg says she’s still working to pay the bills for herself and her family.

    Her situation highlights how family and financial mismanagement can push Americans to work beyond retirement.

    Financially squeezed

    A survey by LiveCareer revealed a startling 61% of U.S. workers fear retirement more than death. The majority of respondents (82%) said they have considered delaying their retirement for financial reasons.

    These statistics paint a grim picture of a workforce that’s feeling anxious and economically squeezed. Digging deeper into the stats reveals that these concerns are not restricted to the middle class or working class. According to PYMNTS Intelligence, 67% of all U.S. consumers now live paycheck to paycheck.

    Financial pressure has spread across the age and income spectrum. To mitigate this issue, here are three solid ways to better manage your money.

    Better budgeting

    A dynamic economy calls for a dynamic budget. For many families, it may no longer be enough to make simple assumptions about how much your monthly bills for essentials will be when prices are rising.

    Instead, financial experts recommend turning your attention to income instead. Ramit Sethi, host of the Netflix series “How to Get Rich,” recommends the 50/20/30 rule, which puts after-tax income into three different baskets: 50% for necessary expenses, 20% for debt repayment and savings and 30% for everything else, including leisure.

    “The goal is simple: decrease your debt, increase your savings and investments, and allow yourself some guilt-free spending,” Sethi says on his website.

    Monarch Money’s expense tracking system makes managing your monthly budget easier. The platform seamlessly connects all your accounts in one place, giving you a clear view of where you’re overspending.

    By linking your credit card accounts, for example, you can monitor your payment progress in real-time and set specific goals to get out of credit card debt faster.

    For a limited time, you can get 50% off your first year with the code NEWYEAR2025.

    Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

    Automatic saving

    For high-income earners, it’s important to set money aside for savings and investments first, before splurging. Credit reporting giant Experian calls this method “reverse budgeting” and says this method restricts discretionary spending, because you can only spend what’s left after meeting savings targets, and bolsters financial resilience.

    You don’t always have to put away large sums to move toward your savings goals. Ten dollars a week could make a difference – if you’re smart about what to do with your spare change.

    Acorns rounds up the price to the nearest dollar and invests the difference for you in a smart investment portfolio.

    For example, if you buy coffee for $4.30, Acorns will round up to $5.00 and automatically save that 70 cents. These small amounts can add up significantly – just $2.50 in daily round-ups could accumulate to $900 per year, helping you build your savings without thinking about it.

    Plus, if you sign up now you get a $20 bonus.

    Cut costs where you can

    Take a hard look at your monthly expenses. For instance, many people are overpaying for car insurance simply because they don’t compare rates regularly.

    OfficialCarInsurance.com makes it easy to compare quotes from leading insurers in your area, potentially saving you hundreds of dollars annually on premiums.

    The process is 100% free and won’t affect your credit score. In just a few clicks, you could pay as little as $29 a month.

    The money you save on lower insurance rates can go directly into your emergency fund or savings accounts.

    What to read next

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