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.

Mark Spitznagel, chief investment officer of Universa Investments, told Business Insider in 2024 that he thinks the “worst market crash since 1929” is coming. Now, he claims that the recent market correction is just the beginning.

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“I expect an 80% crash when this is over. I just don’t think this is it. This is a trap,” Spitznagel wrote to MarketWatch on April 3.

After Trump unveiled Liberation Day tariffs on most countries — with some exceeding 100% — major market indexes entered bear market territory. The CBOE Volatility Index, also known as Wall Street’s fear gauge, hit its highest level since the COVID-19 pandemic.

“This is another selloff to shake people out. This isn’t Armageddon. That time will come as the bubble bursts,” Spitznagel continued to MarketWatch. “This is a most contrarian view right now. Promise.”

Trump has since announced a 90-day pause on reciprocal tariffs for every country except China, but Spitznagel has been ringing a warning bell since last year. During an interview with the Wall Street Journal, he noted the high levels of national debt and the Federal Reserve’s aggressive rate hikes as contributing factors towards the “greatest credit bubble in human history.”

“Credit bubbles end. They pop. There’s no way to stop them from popping,” he said, adding that the Fed has brought the economy to a place “where there’s no turning back.”

Spitznagel’s advice to everyday investors is to not chase the market but build a portfolio that can withstand the next market crash instead.

Preparing for a crash

Spitznagel’s advice to investors is unorthodox.

“Diversification is not the holy grail as it’s been touted by many people. That is a big lie actually.”

While a diversified portfolio is traditionally held as the best way to protect your fortune against a fluctuating market, if Spitznagel’s advice has you unsure, speaking with an experienced financial professional could help bring you clarity and peace of mind.

With Advisor.com — a modern wealth platform — you can connect with professionally vetted financial advisors in as little as three minutes and find the right match for you

When you answer a few questions about yourself, the platform will match you with professionally vetted advisors that fit your needs. Then you can choose your favorite and book a free consultation with no obligation to hire.

Gold

Gold has long been touted as a safe haven asset during market uncertainty.

Gold is regarded as a hedge against inflation for a simple reason: It can’t be printed out of thin air like fiat money.

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.

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

Real estate

If you’re searching for an investment that offers both stability and potential for tempting returns, commercial real estate might be the answer. Unlike the stock market, which can be highly volatile, commercial real estate can provide steady income streams with generally lower volatility and a low correlation to the S&P 500, according to Nareit data.

Platforms like First National Realty Partners (FNRP) make it easier than ever to get started in this sector with professionally-vetted deals. FNRP gives you access to necessity-based real estate — such as grocery stores or health care facilities. That means the properties are essential to the local community, often leased by national brands, and likely to remain desirable.

Once a deal is closed, FNRP’s team of experts manages the property, so you can focus on finding your next deal. While commercial real estate can provide stability, residential real estate also offers a strong opportunity for further portfolio diversification.

With real estate investments averaging 10% returns over the past two decades, it’s no wonder the market is attractive. However, high prices and mortgage rates have made it increasingly challenging for buyers — until now.

Instead of buying a property outright or taking on an expensive mortgage, there’s are crowdfunding platforms that take a different approach by allowing you to invest directly in in residential properties without the hefty price tag of buying and managing a property yourself.

You can tap into this market by investing in shares of vacation homes or rental properties through Arrived.

Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends.

Another alternative to the stormy stock market

Over the past 25 years, contemporary art has shown itself to be a unique opportunity to diversify your portfolio outside the stock market.

In fact, fine art has historically outperformed the S&P 500, with contemporary art achieving an annual return of 11.5% from 1995 to 2023, compared to the S&P 500’s 9.6% during the same period.

Now, retail and accredited investors can easily invest in blue-chip art with Masterworks. Masterworks’ team scours the art market for the best deals, buys them at a discount, and offers shares to members. The Masterworks community of more than you 60,000 investors has access to exclusive shares in modern art by the likes of Picasso, Banksy and Jean-Michel Basquiat.

Sign up now to get VIP access and skip the waitlist and start building your portfolio outside the volatile stock market.

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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.

It’s the advice you hear passed around like a family recipe: Work hard, save consistently, and one day you’ll retire comfortably. But what if this so-called tried-and-true advice is far from a recipe for success and more like a blueprint for disappointment?

Ramit Sethi, bestselling author of I Will Teach You to be Rich and Money For Couples, didn’t hold back as he reflected on what he considers the worst financial advice he’s ever received.

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“Get a job at an industrial company and work there for 40 years so that I can retire with $1M in the bank,” he told Moneywise. “I was like $1 million? That’s it?! No, thank you!”

The old axiom about saving $1 million for retirement hasn’t changed much. Today, many Americans think they’ll need $1.46 million to retire comfortably, according to a Mutual Life study. But Sethi rejects any such advice.

Why Sethi rejects the $1M retirement goal

He says the issue isn’t just oversimplified math but the mindset it fosters: grinding away for decades only to scrape by on a fixed budget in retirement.

For one thing, he argues that by focusing solely on saving and not spending money meaningfully, people miss out on living a rich life. He thinks it’s too long to wait till retirement, especially when the average age of retirement is creeping up, standing at 61, up from 57 in the 1990s, according to a 2022 Gallup poll.

Sethi encourages people to rethink their financial approach, shifting the focus from reaching milestones to developing a strategy that builds wealth over time.

Building your retirement savings

While a $1-million retirement goal might seem out of reach there are steps you can take to build a stronger financial future.

One of the best ways to get started is by creating a budget to track your spending. This can help you determine how much money you have to invest in your retirement.

With Monarch Money you can track every aspect of your finances including your spending, net worth and progress towards your financial goals.

You can also set up custom notifications for recurring bills and subscriptions, ensuring you never miss a payment. What’s more, you can get personalized suggestions on how to reach your goals faster with Monarch Money’s Advice Wizard tool.

Sign up today and get a seven-day free trial and 30% off your first year subscription.

Another approach Sethi encourages is harnessing the power of compound interest.

“The power of compounding is something that is truly hard to understand until you see it over and over again,” Sethi said.

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Investing small amounts of money over time can beef up your retirement savings. For instance, investing just $30 every week can add up to $76,965 in 20 years, assuming it compounds at 8% annually.

You can turn everyday spending habits into an investment opportunity through Acorns. Once you link your debit and credit cards, Acorns will automatically round up spare change from everyday purchases and invest it in a smart investment portfolio of diversified ETFs.

Investing just $5 each day adds up to $1,825 by the end of the year, and that’s before it compounds to make more money in the market.

Sign up in under five minutes today and get a bonus investment of $20.

However, managing your money isn’t just about starting early and investing consistently. Diversifying your portfolio is key to securing your retirement savings, especially during periods of economic volatility.

But there’s a silver lining. While the stock market recorded its worst ever performance in nearly five years in April 2025 gold prices have struck some all-time highs.

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

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.

Get expert help

Determining where you stand financially is the first step towards reaching your goals — whether you want to work until you save your first million, or set up passive income streams to help fund your golden years.

Consulting a financial advisor can provide you with a roadmap for the nest egg you need to secure your retirement. Working with a financial advisor can help increase your net returns by 3% on average, according to a Vanguard report. An extra 3% on top can go a long way over the years, and potentially help you attain financial stability quicker.

If you’re feeling overwhelmed WiserAdvisor might be able to help by connecting you with vetted financial advisors near you for free. Just answer a few simple questions about yourself and your financial goals. WiserAdvisor will then match you with 2-3 experts best suited to making the most out of your money — whether you’re looking to build your retirement nest egg or navigate your investments.

From here, you can compare their qualifications and experience, read reviews and, once you’ve selected your preferred advisor, schedule a free, no-obligation consultation.

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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.

Months after wildfires in California displaced thousands of residents and spurred a massive housing crisis in Los Angeles County, the ongoing impact points to a larger — and unquestionably disturbing — trend.

As extreme weather events increase in both frequency and severity, a growing number of insurers are pulling out of disaster-prone regions. That could make homeownership even less attainable in the future.

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Federal Reserve Chair Jerome Powell recently testified before the Senate Banking Committee and was asked about the availability of mortgages in states like California.

His response?

“Those banks and insurance companies are pulling out of areas, coastal areas and … areas where there are a lot of fires,” Powell told the committee. “So what that’s going to mean is if you fast-forward 10 or 15 years, there are going to be regions of the country where you can’t get a mortgage.”

Why insurers pulling out is a problem

It’s common practice for mortgage lenders to require borrowers to have homeowners insurance in place before giving out loans. But the requirement to carry homeowners insurance doesn’t end there.

You’re typically required to maintain homeowners insurance while you’re in the process of paying off your mortgage. If your insurance is canceled, your mortgage lender will typically be notified. If you don’t then find replacement insurance, your lender could compel you to use insurance it procures for you, known as force-placed insurance.

But with more insurance companies pulling out of disaster-prone states, homeowners’ options for coverage are getting whittled down.

Between 2021 and 2023, the average annual rate for homeowners insurance increased by roughly 20%, according to Insurify.

The cost to insure homes in disaster-prone states has also risen at a significantly faster rate than the national average. Between 2018 and 2022, consumers living in the top 20% of the at-risk zip codes paid $2,321 in average annual premiums, according to a Treasury Department report. This is 82% higher than those residing in the 20% of lowest risk zip codes.

Finding affordable insurance coverage

Insuring your home shouldn’t cost an arm and a leg.

You can compare offers from leading home insurance providers near you for free through OfficialHomeInsurance.com. Simply enter some basic information about yourself and the type of home you own, and OfficialHomeInsurance.com will browse through their database of over 200 insurers and display the lowest quotes in just two minutes.

By comparing your options and selecting the best rate available, you could save an average of $482 per year on premiums.

On this easy-to-use platform, you can read reviews of various insurance providers, and once you select the one you like, set up a free introductory call with your preferred provider, with no obligation to hire.

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

What to do if your homeowners insurance is cancelled

When your homeowners insurance is cancelled, it’s important to find out why. If it’s due to a specific issue with your home, there may be steps you can take to remedy it. But if it’s part of a broad pullback at the county or state level, your options may be more limited.

You could, of course, shop for replacement home insurance. But you may not have many affordable options.

In that situation, your best bet may be a FAIR plan. Short for Fair Access to Insurance Requirements, FAIR programs are state-run and provide insurance coverage for homeowners who can’t get it the conventional way, due to living in a high-risk area.

The problem, though, is that FAIR plans can be pretty basic, offering only coverage for dwelling and personal property. This means you may not be able to get loss of use or liability coverage.

Worse yet, FAIR plans commonly only insure homes at their cash value, as opposed to their replacement cost value — meaning, the amount of money it would take to rebuild. Such is the situation a number of Los Angeles wildfire victims are in now, where they’re entitled to some payout from their insurance, but not enough to rebuild the properties they’ve lost.

That’s why it’s important to research insurance coverage options before buying a home. And if you find that your options are limited, consider it a red flag.

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• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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.

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• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

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.

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. With Monarch Money, you can track all your accounts in one place — helping you know where your money is and where it’s going.

Monarch Money notifies you when recurring bills or subscriptions are due, so  you don’t miss a payment. You can also create a customized budget on the platform with your own list of categories, as well as set financial goals and monitor your progress towards them. Plus, Monarch Money includes opt-in predictive AI tools that can help you automatically categorize your transactions and build infographics highlighting your spending habits.

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. A gold IRA can help you hedge your money against inflation while reaping tax benefits.

Many companies provide a range of gold coins and bars to choose from, and often offer free precious metals up to a certain amount when you make a qualifying purchase. If you want to convert your existing IRA into a gold IRA many companies offer a 100% free rollover.

Check out the Moneywise top picks for industry-leading companies offering gold IRAs.

You can also compare offers instantly and request a free information guide to help you understand how gold can preserve your dollar value during times of high inflation.

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.

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

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

In 2023, 16,806 Americans aged 60 and older reported falling victim to scams, losing a staggering $1.6 billion. The common thread? Cryptocurrencies. Digital currency scams accounted for over 69,000 complaints and $5.6 billion in losses across all age groups.

Unfortunately, crypto scams are easy to execute due to the complexity of digital currencies and growing interest in new investments. For older adults, losing money to such scams could jeopardize their retirement savings.

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• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 5 of the easiest ways you can catch up (and fast)
• Car insurance in America now costs a stunning $2,329/year on average — here’s how 2 minutes can save you more than $600 in 2025
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

Protecting yourself from common cryptocurrency scams

Crypto scams take many forms, but there are ways you can insulate yourself from the thousands that take place every day.

Financial advisors are trained to recognize legitimate investment opportunities and can help you steer clear of suspicious or overly risky ventures, including those involving digital currencies.

FinancialAdvisor.net is a free matching service that helps you find an advisor who can help you reach your financial goals by matching you with a pre-screened financial advisor from their database of thousands.

All it takes is a few minutes to answer some questions about yourself, and FinancialAdvisor.net will provide you with a personalized match of two to three advisors. From there, you can book a free, no-obligation consultation to confirm if your match is right for you.

Outside of professional help, another great defense against scammers is education. An FBI report showed that fraudulent investments (which caused over $3.96 billion in losses among all victims) and phishing or spoofing scams (an estimated $9.6 million in financial loss) were most likely to fool victims in the 60+ age group. Phishing and spoofing schemes trick individuals into sharing personal or financial information, believing they are interacting with legitimate companies. Learning how to spot these scams is critical to protecting your wealth.

Common scams include fake initial coin offerings (ICOs), which entice victims to purchase worthless currencies, and fake digital wallets, where victims unknowingly provide private keys to criminals.

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

Solid investments that allow you to avoid crypto entirely

You can avoid cryptocurrency scams entirely by steering clear of this market.

Most older adults and pre-retirees should exercise caution in their investments due to their shorter timelines. Putting money you may need to use soon into such a volatile asset is risky, even if the coin is legitimate.

Instead of risking your investment, consider tried-and-true options like precious metals, real estate, or the stock market, all of which are more accessible than ever and allow for the potential for steady growth over time.

Hold gold to save for retirement

Many investors prize gold as a potential hedge against inflation and a solid store of wealth.

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

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

You can check out our top picks for industry-leading companies offering gold IRAs.

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

Park money in real estate to potentially gain regular income

Another option for investors looking for an alternative to crypto’s volatility and scam potential is real estate. This tangible, stable asset class has a proven track record of long-term growth.

You can tap into this market by investing in shares of vacation homes or rental properties through Arrived.

Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends.

Accredited investors with $50,000 at their disposal can put their capital into larger-scale, necessity-based commercial real estate through First National Realty Partners (FNRP).

FNRP is a private equity real estate investment firm that specializes in acquiring and managing grocery-anchored commercial properties across the U.S. These properties often feature large, well-known retailers like Kroger, Walmart, and Whole Foods, which have the potential to provide steady, reliable income streams.

Investors can research FNRP’s offerings at their convenience, request and execute investment documents and then track and manage the progress of their investments through their personalized investor portal account.

Make smarter moves on the stock market

Companies offering in-depth market research or reliable trading platforms will probably go a little further in helping you prioritize stability and informed decision-making over crypto investments.

Moby, founded by former hedge fund analysts, offers an investment research platform that provides expert stock picks, presenting a safer alternative to the unpredictability of cryptocurrency. Their analysts dedicate hours each week to analyzing financial data and trends to deliver top-tier stock reports.

Over four years, Moby’s nearly 400 stock recommendations have outperformed the S&P 500 by an impressive 12% on average. With user-friendly formats and a 30-day money-back guarantee, Moby gives you the opportunity to become a wiser investor in just five minutes.

What to read next

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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.

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.

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"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.

A pre-screened financial advisor can also help you assess how many years you have left to invest before retirement. What’s more, a good advisor will help you chart a course during unpredictable market conditions, tariff-related or otherwise.

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.

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

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

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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.

For anyone questioning the continued relevance of the American dream, the story of Sammy Poori serves as a powerful testament.

Poori arrived in the U.S. as an Iranian refugee in the late 1990s, supported by a church that helped him secure a janitor job at a Nashville hospital. With little money, he managed to save up $1,000 to buy a 1989 Toyota Camry, which became his home.

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• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

“I parked at Wal-Mart, which was the only place at the time that was open 24 hours. I parked where employees parked so I could sleep safely. I went to a gym to take a shower and clean up and go to work,” he told USA Today via The Tennessean.

Starting his own business

Poori met his wife Ana, also an Iranian refugee, in May 2000. When she became pregnant, he decided to become his own boss, buying a "junk tow truck" and partnering with his brother-in-law to start a business.

After working many 14- to 15-hour days moving cars, this entrepreneurial drive led him to launch BBB Auto Sales in 2005.

Poori has also amassed an impressive multimillion-dollar roster of exotic sports cars. For example, the 2022 Bugatti Chiron Pur Sport in his collection starts at well over $3 million, according to Car and Driver.

Real estate investing options

Earnings from the car dealership enabled Poori to venture into real estate investments. He says he now allocates 60% of his time toward real estate and 40% to managing the dealership.

You may not have the capital to be a real estate tycoon or a luxury car dealer, but you can tap into this market by investing in shares of vacation homes or rental properties through Arrived.

Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends.

For accredited investors who are looking to make a larger investment in this sector, First National Realty Partners (FNRP) offers access to institutional-quality commercial real estate deals that can allow you to passively collect distribution income.

Commercial real estate has long been touted as a wise investment for adding stability to your portfolio, outperforming the S&P 500 over a 25-year period.

As a private equity firm, FNRP acts as the deal leader and offers white-glove service to investors, providing expertise and doing the legwork. The team 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.

While the FNRP takes care of sourcing new deals, you can engage with experts, explore available deals and easily make an allocation, all on FNRP’s secure platform.

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

Better ROI than real estate?

Reflecting on his passion for exotic cars, Poori remarked to USA Today, “I don’t do drugs, I don’t gamble, I don’t do anything.”

“My only hobby is cars.”

His investment in this hobby surpasses that of the typical car enthusiast. And while cars are generally seen as depreciating assets, Poori claims the exotic models in his collection have proven to be financially advantageous.

“A lot of my cars have a better return on investment than my real estate or my business,” he said. “I don’t think I have a car in my entire collection I have ever lost money on.”

If you have enough passion, you can find a way to invest profitably in what you love, too.

Take fine art, for instance – it has long been the secret weapon used by the richest 1% to safeguard and compound their wealth. In fact, with over $67 billion in annual transaction volume and a total estimated global value of $1.7 trillion, art represents a massive asset class, according to Deloitte.

But you no longer need to spend millions at auctions to invest in art.

With Masterworks, more investors can gain access to this prized asset.

Instead of buying a single painting for millions of dollars at auction, you can now invest in fractional shares of blue-chip paintings by renowned artists, including Pablo Picasso, Basquiat and Banksy.

Masterworks investors have realized representative annualized net returns like +17.6%, +17.8%, and +21.5% (among assets held for longer than one year).

New offerings often sell out quickly, but you can skip the waitlist here.

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

What to read next

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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.

Dave Ramsey is notoriously anti-debt. On several episodes of his podcast, The Ramsey Show, the financial guru has encouraged his callers to avoid nearly all forms of non-housing consumer debt, especially credit cards.

In a recent interview with political commentator Tucker Carlson, Ramsey challenged the concept of credit cards altogether.

“It’s fairly recent that it’s so pervasive, that it’s just necessary for life — and it’s not,” he told Carlson. “I don’t have credit cards; I haven’t in thirty-something years.”

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• Car insurance in America now costs a stunning $2,329/year on average — here’s how 2 minutes can save you more than $600 in 2025
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

Carlson immediately asked Ramsey for an explanation.

“What’s wrong with having a credit card if you pay the balance every month?” he asked.

Ramsey simply replied: “Most people don’t.”

He says that 78% of consumers with credit cards don’t actually pay the balance off every month.

“Everybody talks about this theoretical discipline that they just freaking don’t have,” Ramsey said.

Lack of alternatives, not discipline

Credit cards are one of the most ubiquitous financial products in the country. According to recent data from the Federal Reserve, 82% of U.S. adults had at least one credit card in 2023, and by the third quarter of 2024, the number of credit card accounts had reached an all-time high of 600.53 million.

Growing credit card debt is a sign of expenses exceeding income. Taking control of your spending and getting out of debt starts with having a clear, organized view of your entire financial picture.

Monarch Money’s expense tracking system  makes managing credit card debt 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, 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.

Getting control of your debt

To stay disciplined with credit card debt this year, it may be a good idea to automate your monthly payments to avoid missed deadlines and late fees. According to LendingClub, the majority (68.4%) of Americans manually pay their balance off every month, which makes it easier to forget.

Another creative way of managing your credit card debt is by making your everyday purchases work harder for you with Acorns.

When you link your bank account, every time you make a purchase, Acorns automatically rounds up the amount to the nearest dollar and deposits the spare change in a smart portfolio. The portfolios are customized based on your risk tolerance and include ETFs managed by pros at the world’s top investment firms like Vanguard and BlackRock.

Instead of these small amounts disappearing into impulse purchases, they’re collected and can be directed toward building savings.

When you sign up now with a recurring deposit, you can get a $20 bonus investment.

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

Debt strategies

You can also get a better idea of your net worth and create a detailed budget, allocating a portion of your income specifically to credit card payments — prioritizing high-interest balances first.

Or, you could consider the debt snowball method for quick wins. On his website, Dave Ramsey recommends paying off smaller balances first because it’s more psychologically rewarding and therefore easier to sustain.

Another option is consolidating your revolving debt with a fixed-rate personal loan from Credible.

By consolidating your high-interest credit card balances into a single personal loan with between 6.94% and 35.99% APR, you could reduce your monthly payments and save on interest charges.

Credible makes this process simple and easy. Instead of spending hours researching different lenders and filling out multiple applications, you can view and compare personal loan offers from various trusted lenders in minutes—all in one convenient place.

What to read next

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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.

Katherine Graff moved into a newly built home in Morganton, North Carolina in May 2023. In less than two years, her brand-new home has already cost her $40,000 for structural repairs.

And based on recent engineering inspections, she believes it could cost her up to $300,000 more — despite a home inspection before she moved in.

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• Car insurance in America now costs a stunning $2,329/year on average — here’s how 2 minutes can save you more than $600 in 2025
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

“I’m never gonna get my money back from this house. All my retirement, everything. I mean, this is your biggest investment of one’s lifetime and it’s gone,” Graff shared with WCNC Charlotte reporters.

Within a month of moving in, Graff says she noticed carpenter ants coming through significant gaps in her home’s siding. When she went into the home’s crawl space, she noticed even more issues with the foundation and structure of the home, including large gaps and misaligned pillars.

Complaints to the builder and government agencies went nowhere

Graff has experience in building. She’s worked in brand new buildings, including schools and hospitals, “pulling wire,” a term often used to refer to the work electricians do to pull wire through walls when running electricity.

Graff reached out to builder Timothy Truitt of CMTT Properties and Belmont Builders, but he responded with resistance. “He pretty much said, ‘Nope,’ and sent me a letter from his lawyer telling me not to contact him anymore,” she said. Graff then filed a complaint with the North Carolina Licensing Board, which is currently investigating.

Graff also contacted Burke County officials for help but felt ignored, as they took no meaningful action or updated their procedures.

The situation worsened when Graff discovered Truitt might not have had a valid license when construction began. While county inspection sheets showed work started in September 2022, state records revealed the builder’s license wasn’t valid then, and the county didn’t conduct a license search until a month later. This raised serious concerns about the legitimacy of the builder’s actions.

Buying property can sometimes be a risk, but there are ways to get into the real estate market without too many headaches. With First National Realty Partners (FNRP), for instance, you can diversify your portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord.

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 (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

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

How to protect yourself from similar struggles

WCNC Charlotte contacted Burke County Manager Brian Epley, who explained that construction projects are contracts between homeowners and builders, with the county ensuring code compliance with North Carolina and Burke County standards. He confirmed the county investigated the property and forwarded their findings to the NC License General Contracting Board, but they have not yet received any results.

To protect yourself when purchasing or building a home, consider these tips:

• Verify the builder’s credentials
• Hire a reputable inspector
• Report builder issues to local authorities and licensing board

If all else fails, be prepared to take legal action. Filing a civil case may force the builder or the builder’s insurance company to pay for updates and repairs for structural issues. Currently, Graff is urging county officials to improve their processes and prioritize citizens over builders.

Hassle-free property ownership

If you aren’t ready to jump into home ownership, there are platforms like Arrived that let you buy stakes in rental properties, earn dividends and skip the responsibilities of property management.

Backed by world class investors like Jeff Bezos, Arrived’s easy-to-use platform offers SEC-qualified investments such as rental homes and vacation rentals for as little as $100.

Their flexible investment options allow both accredited and non-accredited investors to benefit from this inflation-hedging asset class with ease.

You start by browsing vetted properties, then you simply select a property and choose the number of shares to buy.

What to read next

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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