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.

Although he hit the jackpot with a massive $255 million contract in 2023, Philadelphia Eagles quarterback Jalen Hurts still lives like a humble college student. He rents an apartment in Cherry Hill, New Jersey, for just $2,000 a month, according to a report from The Sun.

“I didn’t buy a house or anything like that when I got drafted because it was just me,” the superstar told GQ in a 2021 interview. "I didn’t need this big place just for myself. I just got myself a little apartment. You know, something smooth that’ll last me for the time being."

Hurts’ intentional choice to rent a bachelor pad rather than splurge on a luxury penthouse or sprawling mansion is a standout example of financial discipline and living within one’s means.

Here’s how a similar approach could help you chart a path to financial freedom.

Needs-based budgeting

Given that each NFL season lasts for just 18 weeks, athletes like Hurts don’t necessarily need to purchase property near their workplace. His deliberate decision to rent is an example of needs-based budgeting.

According to the University of Pennsylvania, this budgeting technique focuses on securing essential spending needs first before moving onto saving, investing and indulging in luxuries.

Financial experts usually recommend spending no more than 30% of your gross income on housing and no more than 15% for car payments. Applying these limits while making purchase decisions could help you live within your means.

With Monarch Money, you can track your spending down to the last penny — allowing you to budget more efficiently.

The app syncs all your accounts and categorizes your transactions automatically, and its net worth tracker displays all your assets and liabilities at one glance. This way, you can get a snapshot of your finances in one place, so you know where your money is and where it’s going all the time.

You can get a two-week free trial and up to 50% off for the first year when you sign up.

With your needs secured, you can turn your attention to saving and investing to achieve financial freedom as rapidly as possible.

You can save while you spend by investing spare change from everyday purchases with Acorns. All you have to do is link your bank account and credit cards, and Acorns will round up every purchase you make to the nearest dollar and invest the excess in a diversified portfolio of ETFs.

For instance, when you buy a coffee for $4.55, Acorns will automatically round up the transaction to $5, and deposit the 45-cent difference into a smart investment portfolio. Just $2.50 worth of daily round ups can add up to over $900 a year — and that’s before it earns money in the market.

Sign up today and get a $20 bonus investment.

Long-term investing

Although Hurts rents during the football season, he’s an active real estate investor off-season.

He purchased a $215,000 home in his hometown of Humble, Texas, for his father before purchasing another property for his mother in Houston, according to the NY Post. The MVP also owns a $6 million 6,000-square-foot residence in Texas along with the unit next door which cost another $2.68 million.

While he’s still at the top of his game, this extensive real estate portfolio could serve as a long-term financial safety net for the superstar athlete should he ever need it. Investing in real estate also offers diversification benefits, allowing investors to somewhat hedge their portfolios against market downturns.

Accredited investors can gain direct exposure to the $36 trillion U.S. home equity market through Homeshares U.S. Home Equity Fund. With a minimum investment of $25,000, they can own a stake in high-quality owner-occupied homes in the top cities across the country without worrying about the hassles of property ownership or management.

Homeshares U.S. Equity Fund could offer lucrative returns for investors, with risk-adjusted internal returns ranging from 12% to 18%.

Other ways to invest

Setting aside a portion of your income for investing in stocks and bonds can help you secure your financial future. In fact, stock market investments have historically proved to be more lucrative than real estate — the S&P 500 index has returned roughly 10% per year on average, outperforming the residential real estate sector’s 4%-8% gains.

Legendary investor Warren Buffett is also a fan of low-cost index funds, saying they make “the most sense practically all of the time.”

Wealthfront is a robo-advisory platform that allows investors to automatically invest in personalized portfolios of index funds and ETFs.

You can also customize your portfolio further by investing in individual stocks. Wealthfront uses modern portfolio theory to automate asset allocation — rebalancing your portfolio and diversifying your deposits in a tax-efficient manner.

Plus, Wealthfront doesn’t charge fees or commissions on individual trades, but rather a flat 0.25% management fee every year. You can get started with just $1.

If you want to take things up a notch, Moby provides expert analysis on individual stocks.

Founded by a team of former hedge fund analysts, Moby’s individual stock picks have outperformed the S&P 500 index’s returns by an average of 11.95% per year over the last four years. And that’s on top of the index’s annualized returns of about 10%.

Sign up today and become a wiser investor within minutes.

Speak to a professional

Whether you’re just embarking on your investment journey or have already built a sizable portfolio, speaking to a financial advisor can help you understand if you’re on the right track.

Especially now – with the markets reacting to President Trump’s tariffs – you might want to connect with an expert for advice on how to hedge your portfolio.

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

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

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

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

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.

Since being sworn into office, President Trump has implemented significant changes and imposed tariffs on goods imported into the U.S. from other countries.

Trump has made tariffs a central pillar of his "America First" agenda, aiming to protect U.S. jobs and reduce trade deficits.

He has already imposed tariffs on its major trading partners and plans to double tariffs on Canadian steel and aluminum to 50%. The tariffs sparked a stock market sell-off that wiped out $4 trillion from the S&P 500, according to Reuters.

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

Here are five you should watch out for.

1. Homeowners insurance

U.S. homeowners’ insurers have hiked premium rates by double digits over the past two years. Premiums increased by 10.4% in 2024, following a rise of 12.7% in the previous year, according to S&P Global Market Intelligence.

If you’re worried about affording your insurance policy, it’s a good idea to shop around for rates when your plan is set to renew.

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

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

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

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

OfficialCarInsurance.com lets you compare quotes from trusted brands, including Progressive, Allstate and GEICO, to make sure you’re getting the best deal. The matching system takes into account your location, vehicle details, and driving history to find you the lowest rate possible. You can find deals starting at just $29 per month and switch over your policy in just a few minutes.

And if you have a furry friend, consider getting pet insurance to avoid expensive vet bills. With only 2% of pets insured across the U.S., pet owners typically spend up to $186 on average for a routine veterinary checkup, and anywhere between $374 and $1,285 for an emergency visit.

BestMoney lets you compare pet insurance policies offered by reputed providers like Spot Pet Insurance, ASPCA, Pet Best and more. You can compare the coverage benefits, deductibles (if any), geographical availability and reviews — all in their online marketplace.

Find offers starting at just $10 per month.

2. Streaming services

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

Most budgeting experts recommend an annual content audit to make sure you’re not paying for platforms you rarely use. According to a study by Bango, one-third of Americans pay for a subscription they don’t use.

Another practical and long-lasting way to save is by keeping track of where your money is going.

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

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

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

3. Travel

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

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

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

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

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

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

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

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

4. Eggs

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

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

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

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

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

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

5. Coffee

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

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

Little luxuries like café treats are often worth their extra cost if they boost your mood — but to keep them in your budget, you should look for ways to make your money work harder for you, so you can grow your nest egg. Consider opening a [high-yield savings account], where you can earn more on your savings while you enjoy your coffee treat.

With a Wealthfront high-yield, no-fee cash account, you can earn 4% APY on your cash. That is 10x higher than the national average of 0.42% APY offered by traditional savings accounts.

The account has no annual or maintenance fees and is insured by the Federal Deposit Insurance Corporation (FDIC) for balances up to $8 million. Plus, you can get started with as little as $1.

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.

You’ve hit your late 50s, you’ve got a nice cushion in your 401(k) and suddenly you find yourself wondering if that cushion will provide you with enough comfort to retire today.

The promising news is that yes, you may be able to retire today at 58 years old with $970,000 in your 401(k). But you’ve got enough life experience now to know there’s always a bit more nuance than that.

Retiring earlier means you’ll need to wait several years before you can start claiming Social Security benefits and be eligible for Medicare. And it means needing a solid plan on your retirement expenses, health care and even taxes.

Don’t have that all set in stone? Then you may have to delay retirement.

Here’s what to consider before handing in your notice.

Get a clear picture of your financial situation

Deciding if it’s possible for you to retire will depend on whether you have a clear idea of how you’ll cover your expenses if you stop working. Since you can’t claim Social Security benefits just yet, the $970,000 in your 401(k) needs to be truly enough to cover all of your expenses until you can.

Many retirees use a common retirement budgeting tactic, the 4% rule, to ensure there’s enough money from their retirement accounts when making withdrawals, even when adjusted for inflation. With $970,000 in a 401(k), you can typically withdraw $38,800 each year before taxes. Of course, your retirement income may be higher if you have more assets held in other retirement accounts.

A financial advisor can help you break down your total expenses and determine how much you need to withdraw each month to sustain your lifestyle. According to Vanguard research, people who consult with financial advisors see a 3% increase in net returns than those who don’t.

Advisor.com can help you connect with a vetted financial advisor near you for free. The online platform combs through its database of thousands to match you with an SEC/FINRA-certified expert best suited to your needs.

You can read through their profile and client reviews and set up a free introductory call with your matched advisor with no obligation to hire to see if they’re the best fit for you.

Evaluating your fixed expenses also plays a huge role in retirement planning, especially if you have high debt.

Making early retirement work for you

Still want to retire early? Here’s where getting crystal clear comes in handy: if you’re not clear on your income and expenses, now and years in the future, you could be at risk of running out of money.

As in, it’s still possible to make it work if you’re willing to get creative with how you can afford it.

Cut down your expenses

If you want to make early retirement work for you with less than a million in the bank, you’ll have to cut down on your expenses. One area where you might be able to cut down costs is auto insurance.

Car insurance premiums rose by 16.5% on average in 2024, and are expected to rise further by 7.5% in 2025, according to a report published by ValuePengiun.

This doesn’t mean you can’t reduce your monthly premiums. Research shows that shopping around for car insurance rates can help you save nearly $400 a year.

OfficialCarInsurance is an online marketplace that lets you compare auto insurance rates offered by leading providers like GEICO, Allstate, and Progressive, and others. You can customize your search by entering the make and model of your car, driving history, and zip code — helping you find the lowest rate possible.

The best part? The process is 100% free and won’t impact your credit score.

Build a passive income source

Say you estimate your retirement expenses will be $50,000 each year and your only income source is your 401(k) until you decide to claim Social Security benefits when you’re 65. In this case, you’ll need to cover around a $12,000 shortfall (it’ll depend on how much you need to pay in taxes) for the next seven years.

Instead of leaving your career entirely, see if you can work part-time hours or freelance for your current employer. Side hustles or gig work is another way to fill in any income gaps. Your skills may easily lend themselves to a side business idea. That way, you can free up some time to pursue your ideal retirement lifestyle while earning income.

If you wish to retire completely, try to build a passive income source to ensure you can cover any shortfall.

Investing your cash in a high-yield savings account or high-yield certificate of deposit (CD) is an excellent way to put your savings to use. High-yield savings accounts and CDs typically have low risk and offer higher returns compared to a traditional savings account.

With SavingsAccounts.com, you can compare CD rates offered by banks and credit unions across the country — helping you to make informed decisions.

Check out the Moneywise list of Best High-Yield Savings Accounts of 2025 to find some savvy savings options that earn you more than the national average of 0.4% APY.

Switching to a high-yield checking account can also help you earn interest on your idle funds.

You can earn 4% APY on your cash through a Wealthfront high-yield no-fee cash account. That is 10x higher than the national average of 0.42% APY offered by traditional savings accounts. The account has no annual or maintenance fees and is insured by the Federal Deposit Insurance Corporation (FDIC) for balances up to $8 million.

You can get started with as little as $1 here.

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.

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.”

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, 62% of all U.S. consumers now live paycheck to paycheck, including 36% of those whose annual incomes exceed $200,000.

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.

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.

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.

Just a few months into her marriage, Veronica from Texas is “freaking out” after discovering her husband, who she thought was worth nearly $1 million, lied about his finances and is actually drowning in over $150,000 of debt with no significant assets to his name.

“Where do I go from here?” she asked in a letter to The Ramsey Show in a clip broadcast Nov. 18.

“I would go straight to counseling,” replied co-host George Kamel. “I don’t know anywhere else to go when your relationship was built on a throne of lies.”

However, fellow co-host Ken Coleman wanted her to consider the “nuclear option” instead. “I would go straight to the judge and I would get the marriage annulled,” he said bluntly.

Now, while lying to a spouse about being a millionaire may be an extreme case, it seems financial infidelity is actually quite common in America.

Financial deception

The results of a Bankrate survey published in early 2024 reveal 42% of adults in the U.S. who are married or living with a partner say they’ve kept a financial secret from their significant other. Secrets include spending more than their partner would approve of (30%) and holding undisclosed debt (23%).

Among those who lied about their finances, 28% felt embarrassed by their ability to handle finances and 17% were worried about the relationship ending poorly.

“It’s not always easy to talk about money, but it’s so important. Financial secrets can take on a life of their own and undermine the relationship,” Bankrate senior industry analyst Ted Rossman said in a news release. “We’ve often found that the breach of trust has a greater impact than the dollars and cents.”

Marriage counseling is an option for couples to resolve differences and change behaviors. It can be a forum to open up communication between partners and get them on the same page.

Establishing mutual trust is key if they work through financial deception. While owing thousands of dollars in debt is nerve-wracking, outlining strategies to tackle the problem is a good place to start.

If you’re in a similar situation, here are three ways to pay down debt and build wealth.

Consolidate debt through a personal loan

The majority of people struggling with high debt attribute it to high credit card spending. With median APRs of 24.2% on unpaid balances, the debt quickly racks up. Total credit card debt in the U.S. stood at $1.21 trillion in the fourth quarter of 2024, marking an all-time high, according to data from the Federal Reserve of New York.

For those trying to pay off multiple credit cards or high-interest personal loans at the same time — consolidating debt with a new personal loan and making one monthly payment at an ideally lower interest rate might be your best bet.

Credible is an online marketplace that allows you to compare personal loan rates and features from multiple lenders near you — all in one place.

The process is completely free, and won’t impact your credit score. Simply answer a few simple questions, then Credible will automatically display actual rates offered by top lenders like SoFi, Discover, Upstart, and more. You can then make a selection based on your requirements and preference.

With rates starting at 6.94% APR — you could potentially save a ton in interest.

Pay down high interest debt with a transfer balance credit card

Another avenue you could use to pay down your credit card debt is using a transfer balance credit card. These cards typically offer an introductory period during which no interest is charged — making it a convenient option to pay off outstanding debt.

But here’s the catch: many financial institutions often charge an initial transfer balance fee. According to a recent LendingTree report, 44% of 0% balance transfer credit cards come with a one-time fee ranging from 4% to 5% of the balance being transferred. Plus, 82% of transfer credit cards have an introductory offer for 12-15 months.

That means it’s important for you to do the proper research and choose the right card. With CardRatings, you can view the features and benefits of transfer credit cards offered by various financial institutions near you in one place, making it easier to make a decision.

You can customize your search and recommendations by sharing some details about your preferences and credit profile. CardRatings will then comb through its database and recommend a card that best suits your needs.

Consider a home equity loan

If you’ve paid your mortgage consistently for several years, chances are you have built up significant equity in your home. You can leverage that by using a home equity loan — which typically have lower APRs than personal loans or credit cards — to pay down a significant amount of high-interest debt.

Plus, you could unlock the lower rates by shopping around and comparing offers from different lenders through LendingTree. This way, you can make your home work harder for you, and lower your interest burden on other unpaid debt.

The process is simple: Just answer a few simple questions about your finances and mortgage, and LendingTree will match you with up to 5 lenders with great rates today.

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

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

Dividing an inheritance is rarely straightforward, but in blended families, the stakes and emotions can be particularly high.

On a recent episode of The Ramsey Show, Jared from Phoenix, Arizona called in to discuss whether he should give some of the $3 million inheritance he received from his late father to his stepsister, since she wasn’t happy about being left out of the will. He has already built a nest egg of roughly $750,000 for himself, so he felt guilty for denying her money that could potentially help her later in life.

“She got upset because of the numbers involved,” recounting his stepsister saying: “‘I don’t understand why we can’t all just share?’”

Ramsey had a blunt response: “Because we’re not communists.”

The situation highlights how difficult it can be to manage the expectations of your loved ones even if you have a simple estate plan in place.

Simple plan, complicated emotions

Jared described his father’s estate plan as relatively simple on paper: both he and his brother received $3 million to $4 million each. However, the fact that his step-siblings have been left out of the will has ignited strong emotions and family drama.

This isn’t unusual — but at least the direction was clear.

Tensions can be amplified if there’s no plan at all. According to a 2023 survey by LegalShield, nearly 60% of Americans don’t have an estate plan and 58% of people have experienced family disputes due to a lack of a plan.

Families can have disputes even when there is an end-of-life plan in place. Of those that had wills, 36% of respondents said their will had surprises for their beneficiaries. Assuming some of these are unpleasant surprises, the potential for family drama is high.

Seeking out the help of a professional wills and estates lawyer to proactively prepare a robust estate plan can mitigate some of these issues – though a study by Caring.com found that 13% of Americans believe that it’s too expensive to make a will, while 12% find the process to be cumbersome.

But securing your family’s future doesn’t need to cost an arm and a leg. With Ethos Will & Trust, you can create a will for as little as $149.

In as little as 20 minutes, you can create a custom will online. For eligible policies, you can make edits to your will in the future with no additional costs.

Plus, you can get a will for free from Ethos Will & Trust with your purchase of a life insurance policy.

You can get term life insurance in 5 minutes, with no medical exams or blood tests.

You can get a policy with up to $2 million in coverage, starting at just $2/day.

Ethos’ application process ensures you get flexible coverage options quickly and transparently, allowing you to focus on what matters most.

Avoiding family drama

To avoid creating tension within the family over your estate, it makes sense to not only have a plan, but also to talk about it with all your loved ones.

By taking the time to inform your family about your plan and all the reasons and motivations behind your decisions, you can eliminate any room for ambiguity. Conflicts can be further reduced if you discuss your will not just with your beneficiaries but also with any other family members who may have been excluded.

Also, having your will vetted by an experienced lawyer can help you ensure your wishes are upheld, even if disputes arise. Wills created through Ethos Will & Trust are vetted by attorneys with decades of experience under their belt. This may make it easier for your beneficiaries in the event your will is contested in probate court.

Unfortunately, 35% of Americans don’t plan on discussing their inheritance plans with their family, according to a 2024 survey by Edward Jones in partnership with NEXT360 Partners and Morning Consult.

Jared’s father presumably did not explain to his stepchildren why he was leaving them out of the will. Without this conversation, the family must now follow what’s outlined on paper, according to Ramsey.

“Dad already clearly said what he wanted to have happen,” he told Jared. Cohost John Delony agreed: “Yes, behavior’s a language and he was loud and clear.”

With this in mind, both hosts encouraged Jared to turn down his stepsister’s request.

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.

NFL star Odell Beckham Jr. is taking a victory lap, but not on the field. The Miami Dolphins player took to X to celebrate Bitcoin’s price topping $100,000 last December. It’s currently at around $90,000.

Back in 2021, when he signed with the Los Angeles Rams, Beckham struck a deal with Block Inc.’s Cash App to receive his $750,000 salary in Bitcoin.

At the time, his decision was highly criticized. Bitcoin lost 74% of its value from November 2021 to November 2022. MarketWatch asked, “How much did it end up costing him?”

However, the recent rebound has pushed the pendulum the other way. “Soooo who said taking my Rams salary in Bitcoin was dumb again?” Beckham posted on X in November.

While it is unclear whether the athlete held onto his Bitcoin throughout the three-year period, it seems fair to assume his gamble paid off.

If you have as much faith in Bitcoin as Beckham does, here’s how you can invest successfully.

How to invest in Bitcoin

The first step to buying Bitcoin is choosing a legitimate, registered cryptocurrency exchange. There are plenty of scam trading websites out there, so make sure to do your research.

Interest in cryptocurrency has skyrocketed since Trump’s promise to make the US the “crypto capital of the world.”

According to a report by Security.org, 14% of people who don’t have any portfolio exposure to crypto plan on buying it this year, while 67% of people who own some form of cryptocurrency in their portfolio plan on buying more. Financial experts recommend that Bitcoin account for no more than 5% of your portfolio.

For those interested in owning cryptocurrency, finding a reliable low-fee trading platform is crucial. Robinhood Crypto has the lowest trading costs on average in the US, as it charges no commissions or added spreads on Bitcoin trades.

In fact, you can get up to 3.6% more crypto when you trade through Robinhood. The coins you purchase are held in cold storage disconnected from the internet, ensuring security from scams and malware attacks. Also, purchases on Robinhood Crypto are covered by crime insurance against theft and cybersecurity breaches.

Sign up today to get a 1% deposit match on all crypto deposits and transfers.

How to invest in alternative assets

Sometimes, making long-term bets on assets that are viewed as risky can lead to enormous wealth creation. It can also turn out terribly and be extremely costly, so always take time to determine your own risk tolerance level and maintain a diversified portfolio.

In order to mitigate this risk, you can diversify your portfolio with alternative assets that have stood the test of time.

Real estate is often touted as the pinnacle of wealth creation. According to a 2023 LendingTree survey, 45% of Americans believe that investing in real estate is the best way to build wealth.

However, buying real estate for the purposes of investment typically comes with several added responsibilities and financial burdens, like finding and managing tenants, property taxes, and maintenance costs.

To skip these hassles, accredited investors may consider investing in crowdfunding commercial real estate through First National Realty Partners (FNRP).

FNRP leases institutional quality properties to reputed brands like Walmart, CVS, Kroger, and Whole Foods. The firm handles all the paperwork throughout the lifecycle of the investment and pays out any positive cash flows as dividends at the end of every quarter.

This way, you can reap the benefits of investing in commercial real estate without having to do the legwork.

Another alternative asset that has held its own over the long run is art. Between 1995 and 2023, contemporary art appreciated at a compounded annual growth rate (CAGR) of 11.5%.

You can buy fractional shares of blue chip art by famous artists like Banksy, Picasso, and Basquiat through Masterworks. The platform handles every step — curating, authentication, and acquisition — with no art expertise or large bank account needed.

Masterworks investors have realized representative annualized net returns like 17.6%, 17.8%, and 21.5%.

Get started with Masterworks within minutes with priority access.

A golden alternative

Bitcoin is touted by many as “digital gold” — but fails to offer stable returns, especially during market upheaval. In fact, Bitcoin is four times more volatile than gold, according to Forbes analysis.

You can hedge your portfolio against inflation and market volatility by directly investing in physical gold through a gold IRA. With this form of retirement investment, you can reap the tax advantages of opening an IRA as well as the economic stability that gold provides.

You can check out Moneywise’s top picks for industry-leading companies offering gold IRAs.

Compare offers instantly and get a free information guide to help you understand how a gold IRA can help diversify your portfolio.

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

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

When Donna Hartl and her husband purchased a vacant lot in Brooksville, Florida, they thought they’d found the perfect location for their dream home. Nestled between Islewood Drive and Richbarn Road, the $17,500 property seemed ideal.

“We really wanted to have some privacy, not be stranded out in the country,” Donna Hartl told News Channel 8 reporters. “We just felt this was the perfect match.”

But as they prepared to build, the couple encountered an obstacle: a decades-old Duke Energy easement that prohibits construction on their new lot due to restrictions on how close homes can be built to a new transmission pole. Now, they’re stuck in limbo.

Dealing with an easement dispute

The Hartls thought they were ready to build their dream home after receiving approval from Hernando County and confirming the property was zoned for residential use. However, their plans were derailed when they discovered a utility easement from Duke Energy, preventing construction within 100 feet of a pole.

Despite initial assurances, a 1955 document revealed the easement, leaving most of the land unusable for building. The remaining 600-square-foot area couldn’t accommodate a home due to septic and well requirements.

Although the county lowered the property’s value, the Hartls still owe taxes on a $17,500 unusable plot. Duke Energy does not purchase properties with easements, so the couple is stuck with the land.

The Hartls situation emphasizes the need to understand easements and secure title insurance before buying a property. Buyers should research public records, perform title searches, and obtain insurance. If an easement affects your property, work with local authorities to explore options like relocating or negotiating with the holder.

Hassle-free property ownership

Real estate investing stands as one of the most proven paths to building lasting wealth. For the 12th year in a row, Americans have ranked real estate as the best long-term investment in 2024, according to a Gallup survey.

You don’t have to go through the same hassle the Hartls faced to invest in real estate. There are simpler ways to get on the property ladder.

For example, Homeshares allows accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning, or managing property.

The fund focuses on homes with substantial equity, utilizing Home Equity Agreements (HEAs) to help homeowners access liquidity without incurring debt or additional interest payments. This approach provides an effective, hands-off way to invest in high-quality residential properties, along with the added advantage of diversification across various regional markets – all with a minimum investment of $25,000.

With risk-adjusted internal returns ranging from 12% to 18%, the U.S. Home Equity Fund offers accredited investors a low-maintenance alternative to traditional property ownership.

Commercial real estate offers another avenue for property ownership. For years, direct access to the $22.5 trillion commercial real estate sector has been limited to a select group of elite investors — until now.

First National Realty Partners (FNRP) allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord.

With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties.

However, owning a share of a project or property this way holds some risk — for instance, you could receive no returns and these assets are often illiquid. Speak to a professional if this investment is right for you, especially if you are retired or close to retirement.

If you’re looking for an option with a lower minimum investment requirement, Arrived could be a solid choice. Backed by world-class investors like Jeff Bezos, Arrived allows investors to buy stakes in rental homes and vacation rentals without having to worry about tenant management. With Arrived, you can invest in shares of rental homes with as little as $100 without worrying about mowing lawns, fixing leaky faucets, or handling difficult tenants.

The process is straightforward: browse a carefully curated list of properties that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase, and then enjoy the potential rental income deposits from your investment.

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.

Despite earning an estimated combined income of $500,000 to $600,000 a year, Bill from San Diego admits he and his wife struggle to save any money — and it’s easy to see why.

“Our monthly expenses are about $30,000, and then add taxes to that, so we pretty much even out every year,” Bill told Dave Ramsey on an episode of “The Ramsey Show” in a clip posted Jan. 13.

An exploration of the San Diego, California, couple’s finances and spending habits reveals how even high-earning households can struggle and end up living paycheck to paycheck.

Spending problem

A 2023 Empower survey found that 71% of U.S. adults believe earning more money would solve most of their problems, a mindset Ramsey once shared. However, he learned that higher earnings can’t fix poor organization and lack of detail.

Bill’s case shows that increasing income isn’t enough. He and his wife spend $12,000 a month on mortgages, $8,000 to $10,000 on charity, and $750 on a leased vehicle. Ramsey considered their spending excessive, comparing it to “throwing a bale of dollars over the fence and coming back to see what’s left.” He advised them to create a detailed budget that tracks every dollar in and out.

Budgeting can be challenging, especially when trying to track multiple accounts and daily expenses simultaneously. Monarch Money’s expense tracking system simplifies the process of creating and maintaining a budget.

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

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

Easy targets

Data from Bank of America shows that 20% of households earning over $150,000 lived paycheck to paycheck in 2024, often due to expensive homes and high mortgage payments. However, Bill and his wife seem to be spending just as much on their mortgages as they are on easily avoidable expenses. For example, they lease a vehicle, which Ramsey believes is unnecessary given their income. He suggested buying the car outright instead.

Additionally, nearly a third of their monthly expenses go to charity. While Ramsey supports generosity, he advised the couple to adjust their donations temporarily, especially since they aren’t investing. Even high-income earners can struggle to save and invest, often facing lifestyle inflation and increased spending. You can significantly increase your savings 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 wealth.

For example, when you spend $3.50 on coffee, Acorns will automatically invest the 50-cent difference. These small amounts add up over time.

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

Get help from a professional advisor

Seeking professional help from a financial advisor can be a game-changer when it comes to managing your money. According to Vanguard’s research, people who work with financial advisors see a 3% increase in net returns. This difference can be substantial over time. For example, if you’re starting with a $50,000 portfolio, you could potentially retire with an extra $1.3 million after 30 years of professional guidance.

A qualified financial advisor through WiserAdvisor can guide you in allocating the right amount of funds towards different savings goals and also help you overcome some negative money behavior.

WiserAdvisor 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 WiserAdvisor 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.

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.

Landowners in Montgomery County, Illinois are grappling with a dramatic spike in property taxes after having their bills reassessed.

Brandi Lentz told 5 On Your Side she paid $756 in property taxes last year on a 96-acre tract of woodland in Montgomery County. Next year, she has confirmation that her property tax bill will be more than $10,000 — a shocking 1,222% increase — and she’s not alone.

“People are going to lose their property,” said former Montgomery Co. Finance Chair Megan Beeler in her interview with 5 On Your Side. “When you’re looking at a 1,500% increase, a 3,000% increase on property, we’re not going to have the ability to maintain and pay the taxes.”

What caused the sudden increase?

The increase in property taxes stems from a 2007 state law requiring woodland tracts to be taxed like homes, according to Montgomery County Assessor Kendra Niehaus. Up until this year, the law wasn’t correctly implemented in Montgomery County. As a result, woodland properties are now taxed at 33.33% of their market value.

Property owners can challenge the assessment through the Board of Review, though a resolution may be difficult due to the lack of township assessors. The Montgomery County Board of Commissioners recently held a special session to address these concerns.

What else can property owners do? They should start by reviewing their assessment details for accuracy. They can also compare recent sales of comparable properties in their area to see if their valuation aligns with market trends. Gathering documentation to support a claim of overvaluation can help build a case for an appeal.

Once an appeal is filed, owners may be scheduled for a hearing to present their case. So, it’s important to prepare a well-organized argument supported by evidence and be mindful of deadlines. Having a solid emergency fund can also help homeowners navigate large tax bills without risking losing their properties.

How to own property without the hassle

Investing in real estate has always been an attractive option for building wealth, but the thought of managing properties can be daunting.

Homeshares is changing the game by allowing accredited investors to gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning, or managing property.

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

This approach provides an effective, hands-off way to invest in high-quality residential properties, plus the added benefit of diversification across various regional markets – with a minimum investment of $25,000.

With risk-adjusted internal returns ranging from 12% to 18%, the U.S. Home Equity Fund could unlock lucrative real estate opportunities, offering investors a low-maintenance alternative to traditional property ownership.

The commercial real estate market is another avenue for real estate investment.

First National Realty Partners (FNRP) allows accredited investors to diversify their portfolio through grocery-anchored commercial properties, without taking on the responsibilities of being a landlord.

With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

Simply answer a few questions – including how much you would like to invest – to start browsing their full list of available properties.

However, owning a share of a project or property this way holds some risk — for instance, you could receive no returns and these assets are often illiquid. Speak to a professional if this investment is right for you, especially if you are retired or close to retirement.

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