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  • Urgent warning issued for US consumers after ‘security breach’ of 184,000,000 passwords — here’s who’s exposed and how to protect yourself

    Urgent warning issued for US consumers after ‘security breach’ of 184,000,000 passwords — here’s who’s exposed and how to protect yourself

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

    If you’ve been ignoring those pesky "suspicious login" alerts in your inbox, now might be the time to pay attention.

    Cybersecurity researcher Jeremiah Fowler discovered an unprotected online database in May, exposing over 184 million records — including email addresses, passwords and login links — stored in plain text. The leaked data is tied to major platforms like Apple, Google, Facebook and Microsoft along with government and financial services.

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    Fowler is usually able to trace an exposed database back to its source — spotting breadcrumbs like company names, employee records or customer information. But this time the trail ran dry. There were no telltale signs of who the data belonged to or how it ended up online, making the breach even more unsettling.

    “As far as the risk factor here, this is way bigger than most of the stuff I find, because this is direct access into individual accounts,” Fowler told Wired. “This is a cybercriminal’s dream working list.”

    The breach could fuel fraud, identity theft and more. While data leaks might feel like background noise, ignoring this one could come back to bite you — especially if your Netflix password doubles as your online banking login. Here’re some smart steps you can take to keep your information safe.

    The cloud comes at a cost

    In a 10,000-record sample of the breached data, Fowler found hundreds of compromised accounts including major consumer platforms like Netflix, PayPal, Amazon and Apple. A keyword search revealed 187 mentions of “bank” and 57 of “wallet,” suggesting the breach may have exposed financial data, too. Perhaps most concerning was the discovery of 220 email addresses associated with .gov domains, raising broader national security implications.

    The scale of cyberattacks isn’t just growing but evolving in ways that are becoming harder to contain, track and remediate.

    Take crypto exchange Coinbase: On May 11, the company received a ransom email after bad actors bribed overseas support agents to steal internal information.

    “These insiders abused their access to customer support systems to steal the account data for a small subset of customers,” Coinbase wrote in a blog post.

    While the company says it didn’t pay, the breach could cost up to $400 million to fix.

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

    Protecting yourself

    Protecting your personal information online doesn’t require a tech degree — but it does take intention.

    “This is perhaps a kick in the pants for some people who’ve been a little bit lax in doing some of the things we talk about,” Teresa Murray, who directs the Consumer Watchdog office of the U.S. Public Interest Research Group, told WFLA News Channel 8.

    Murray suggests changing your passwords now, updating them regularly and never reusing the same one, or even a similar one, across multiple sites. Your primary email and financial accounts should have strong, unique passwords that aren’t used anywhere else.

    Murray also recommends freezing your credit files with all three major credit bureaus — Equifax, Experian and TransUnion — and leaving them frozen until you need to make a major purchase. This won’t affect your credit score, but it will make it much harder for criminals to open new accounts in your name.

    Another step you can take is to enable multi-factor authentication wherever it’s available. This adds an extra layer of protection, even if a hacker does get their hands on your login credentials. You can also use free tools like Google’s Password Checkup to see if your information has been compromised in a breach. If it has, update your login credentials as soon as possible.

    There are also paid tools that offer extra layers of protection, like Norton 360 with Genie. Their service includes an assistant that answers any questions you have about online fraud. Even better, Norton’s Genie tool uses AI to detect if websites you visit are scams in real time, and can answer questions you have about them.

    Norton may also be able to warn you if you have already been the victim of cybercrime. They offer dark web monitoring to alert you if your personal information has been leaked to the dark web, which contains sites that are only accessible with specific internet browsing tools. Norton 360 can check for suspicious content while you browse online for potential threats, scams, hackers, viruses, malware and ransomware.

    Finally, another way to easily protect yourself is to sign up for transaction alerts from your credit card provider, and make sure your contact details are up to date. Murray’s best practices for internet password safety can also be easily applied to your banking practices.

    When it comes to cybersecurity, vigilance can pay dividends for your peace of mind.

    What to read next

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

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

  • I have $2,700 in extra retirement income each month. Is it enough and what should I do with this money?

    I have $2,700 in extra retirement income each month. Is it enough and what should I do with this money?

    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.

    Before you retire, you want to make sure you have enough income to cover your spending needs. But, plenty of people hope to leave work with the ability to cover more than just the bare necessities.

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    Let’s say you happen to be a few years out from retirement, and are on track to have an extra $2,700 a month after covering the basics. Well, that’s a pretty good financial position to be in. Annually, that would amount to $32,400 for life after paying the bills.

    So, what should you do with this "extra" money if you’re lucky enough to have it? Here are a few possible options to consider.

    Diversify your investments

    One of the first things you can do with that extra cash is invest it, so that you’re putting it to work in the background. That way, the $2,700 a month can turn into even more.

    If you’ve already maxed out your 401(k) and you’re looking for new assets to invest in, you might consider alternatives like gold or art.

    A gold IRA is one option for building up your retirement fund with an inflation-hedging asset.

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

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

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

    As for investing in art, that’s the type of investment that used to require having a billionaire’s checkbook. Now, anyone can invest in blue-chip artwork worth millions through Masterworks’ art investing platform.

    Masterworks has already distributed back $60+ million in total proceeds (including principal) to investors across their 23 exits, posting a profitable return from selling a Basquiat painting for $8 million in 2024. See important Regulation A disclosures at Masterworks.com/cd

    Donate to charities

    Beyond investing, you can use surplus cash to give back to causes that resonate with you. 78% of pre-retirees and retirees between the ages of 50 and 80 indicated to Fidelity that they are committed to donating, and expect it to play a significant role in their retirement.

    Giving some of your extra money to causes that you care about can allow you to make a real difference in your later years. A financial advisor can also help you explore tax-efficient strategies for giving, as 21% of retirees aren’t aware of any tax-advantaged methods of donating.

    Advisor.com is a free service that helps you find a financial advisor near you. They can help co-create a plan to reach your financial goals, based on your tax circumstances, by matching you with a small list of the best options for you to choose from.

    From their database of thousands, you get a pre-screened financial advisor you can trust. You can then set up a free, no-obligation consultation to make sure they’re the right fit for you.

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

    Invest it on behalf of your kids or grandkids

    Investing for your kids or grandkids is also a solid way to park your extra retirement money, as you can play an active role in helping the next generation get a head start on financial security.

    College costs are seeing significant increases. A four-year degree in the 2035-2036 academic year could run as high as $230,176 for a four-year period. If you want to spare your grandkids the burden of substantial student loans, you could look into funneling some of your extra money into a 529 plan.

    Platforms like Wealthfront offer 529 plans where your investments can grow tax-free. Wealthfront also has taxable, automated investing accounts where you can automatically invest in a globally diversified portfolio – without having to do the research or stock picking yourself. And when you fund it with $500 or more, you get an extra $50.

    Enhance your lifestyle

    Typically, common financial wisdom dictates that you shouldn’t succumb to lifestyle inflation (where your spending increases alongside your income). But, while this is prudent advice throughout much of your working years, if you now find yourself in a position to reap the benefits of smart financial moves or simple good luck, you could also use your extra funds to enjoy your life.

    You can begin by asking yourself what would personally bring you joy? You may decide you want to travel more or spend more time on your hobbies, as you aren’t forced to work into your later years or you can let yourself enjoy dining out at nicer restaurants.

    Just be sure you don’t go overboard, that you maintain a safe withdrawal rate, and maintain an emergency fund for any incidentals or unforeseen health expenses, even if you feel flush with cash for now.

    If you have a lot of cash sitting in your checking account, consider moving it to a high-yield savings account so you can get more bang for your buck.

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

    For example, you can open a high-yield checking and savings account with SoFi and earn up to 4.00% APY Plus, SoFi charges no account, monthly or overdraft fees.

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

    What to read next

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

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

  • Super-rich Americans like Mark Zuckerberg and Jay-Z have taken out mortgages for homes they can easily afford — here’s why

    Super-rich Americans like Mark Zuckerberg and Jay-Z have taken out mortgages for homes they can easily afford — here’s why

    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 many people, the only way to afford a home is to finance it with a mortgage and pay off that loan over time.

    During the first quarter of 2025, the median U.S. home sale price was $503,800, according to Federal Reserve Economic Data. Given that median annual wages were just $61,984 during the last quarter of 2024, it’s easy to see why the typical working American can barely afford a down payment on a home today, let alone the entire cost in one fell swoop.

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    But uber-wealthy folks are in a different position. Those with billions of dollars to their name can buy a home outright rather than take out a loan.

    Yet celebrities like Mark Zuckerberg, Elon Musk and Jay-Z have all made headlines for taking out multimillion-dollar mortgages — not out of necessity but to reap a couple of key benefits.

    It allows for better cash flow

    Someone with billions to their name might not worry about cash flow, but taking out a mortgage can be a strategic move to maintain liquidity and keep cash available for other investments, rather than tying it up in a relatively illiquid asset like real estate.

    Take Hollywood power couple Jay-Z and Beyoncé, for example. Despite their estimated combined net worth of $1.6 billion in 2017, they secured a $52.8 million mortgage to purchase an $88 million hillside estate in Los Angeles, according to the L.A. Times.

    There could be major benefits for Beyoncé and Jay-Z, depending on how their portfolio is allocated,” Robert Cohan, managing director at Carlyle Financial, told Business Insider. “A mortgage gives them financial flexibility, and they have the ability to pay it off whenever they choose.

    You can still land an affordable mortgage rate even if you don’t fall in the category of America’s elite 1%. The key is to not accept the first offer on the table — and to shop around and get quotes from at least two-three lenders.

    According to a study conducted by LendingTree, 45% of homebuyers who received more than one quote got a lower rate than their initial one .

    Mortgage Research Center can help you shop around for rates from vetted lenders near you.

    All you need to do is enter some basic information about yourself, such as property type and zip code in which it is located, total cost, desired down payment, and your annual income and credit score.

    Mortgage Research Center then matches you with lenders best suited to your needs. You can then set up a free, no-obligation consultation to further assess whether they’re the right fit for you.

    Free up more money to invest

    If you purchased a house in the last couple of years at a fixed rate, chances are you might be able to refinance it at a lower rate right now.

    Mark Zuckerberg, the world’s second richest man (according to the Forbes Real Time Billionaires list) did the same.

    Back in 2012, when Zuckerberg was #40 on the list with an estimated $15.6 billion net worth, he refinanced his home in Palo Alto, California, with a 30-year adjustable rate mortgage at 1.05%.

    While rates probably won’t go down to that level any time soon, the Federal Reserve’s rate cuts over the past few months have already had a noticeable impact. Median mortgage rates are currently hovering around 6.95% — down from 8% in October last year.

    With the Fed slated to lower the benchmark rates further in the upcoming months, it might be a good idea to start looking at your options.

    Ideally, you can land a lower rate by shopping around. According to a study from LendingTree, 56% of homebuyers shopped around when they refinanced their mortgage. What’s more, 81% of those who chose to refinance, came away with a lower rate than what they started with.

    Mortgage Research Center is also a beneficial tool if you are looking to refinance your current mortgage.

    The process is the same — you need to enter some information about yourself and your current mortgage, and Mortgage Research Center will match you with vetted lenders offering competitive rates.

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

    More ways to invest in real estate

    Even for accredited investors, purchasing additional properties for rental or investment income can be a hassle. Beyond ongoing maintenance and property taxes, there’s also the added burden of managing tenants and the responsibilities that come with being a landlord.

    This is where First National Realty Partners (FNRP) comes in. Accredited investors can own a stake in grocery-anchored institutional-grade commercial real estate without having to do any of the legwork.

    FNRP’s team of experts manages the entire life cycle of the investment — from due diligence of properties to acquisition and tenant management. The firm typically leases its properties to national brands selling essential goods, like Walmart, Whole Foods, CVS, and Kroger.

    FNRP also pays out any positive cash flows as dividends quarterly, helping you generate passive income without worrying about property and tenant management.

    Another option for investing in real estate is the U.S. home equity market, a vast $36 trillion industry that has long been reserved for large institutional players. Homeshares is transforming this space by giving accredited investors direct access to hundreds of owner-occupied homes in major 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 target returns ranging from 14% to 17%, the U.S. Home Equity Fund could unlock lucrative real estate opportunities, offering accredited investors a low-maintenance alternative to traditional property ownership.

    Another way to invest in real estate is by purchasing rental properties and becoming a landlord. But for the average American who wants to avoid the need for a hefty down payment or the burden of property management, crowdfunding platforms like Arrived make it easier to slice yourself up a piece of that pie.

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

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

    What to read next

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

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

  • Residents in this US state now spend 10% of their income on groceries — the highest rate in America. Here’s how struggling families are making ends meet

    Residents in this US state now spend 10% of their income on groceries — the highest rate in America. Here’s how struggling families are making ends meet

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

    If your grocery bill feels like it’s been getting out of hand lately, you’re certainly not alone — especially if you live in Nevada.

    A recent LendingTree analysis of USDA and U.S. Census data shows that Nevada households now spend an average of $10,390 annually on groceries. That’s over $2,000 more than the national average of $8,167.

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    Nevada spends the fourth-highest amount on groceries, behind only Utah, Alaska and Hawaii. Nevada and Utah also spend the second highest share of household income on groceries at 10.1%, just behind Idaho’s 10.4%.

    Kitchen staples like mini sweet peppers have skyrocketed in price by as much as 99% in some instances, while the price of avocados rose by up to 75%, forcing families to rethink their entire approach to grocery shopping.

    Here’s how Nevada families are adapting.

    Shoppers feeling the sting of higher prices

    With grocery bills in Nevada a whopping 27% higher than the national average, many shoppers are second-guessing what they pick up at the store.

    "There’s a lot of stuff that I don’t buy anymore because I won’t pay for it," Anna Marie Hyatt, a Las Vegas resident, told KTNV ABC 13 News. "I am not going to spend six bucks on a bag of chips.

    "Whoever has the cheapest price, that’s where I am going to buy it."

    Every dollar counts when American households are spending an average of 7.4% of their household income on groceries, according to LendingTree. But when it comes to stretching your dollars, it’s not just about spending less. You want to have more money to spend, too.

    Platforms like Acorns can help you invest your spare change into low-cost ETFs whenever you make a purchase on your credit or debit card. Acorns automatically rounds up the price to the nearest dollar, then places the rest into a smart investment portfolio.

    This turns every grocery run — plus your other purchases — into a micro-investment for your future.

    Even better, you can get a $20 bonus investment when you sign up with a recurring contribution.

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

    Investing is a key way of generating wealth. While it won’t decrease the cost of groceries, it can increase the money you have to spend at checkout.

    Nevadans tighten grocery budgets, but at what cost?

    Another way to get more bang for your buck is by buying in bulk, trading brand names for generics and planning meals ahead of time.

    Make sure that any money you’re not spending, investing or using to pay down debt is still earning interest too.

    With Wealthfront Cash, you get an account with $0 fees and 4.00% APY — almost 10 times the national savings average. You can use it like a traditional checking account by setting up direct deposits, and even get your paycheck two days earlier.

    If you fund your account with $500 or more, you can get a $30 bonus with Wealthfront Cash.

    Another way to cut costs? Ensure that you’re paying the best rate possible for essentials, like insurance — especially since average homeowners insurance premiums grew 8.7% faster than inflation between 2018 and 2022.

    That’s why it’s important to shop around for the best rate available. OfficialHomeInsurance.com can help you find low rates near you without the hassle of calling multiple providers for quotes. Simply fill out a few details and you could save an average of $482 a year.

    According to another LendingTree report, the cost of car insurance is set to rise this year by another 7.5%. Beyond wearing the crown for some of the most expensive groceries in the country, Nevada also happens to have some of the highest auto insurance rates.

    Make sure you’re not overpaying with OfficialCarInsurance.com. You can compare multiple insurance providers in under 2 minutes with their easy-to-use platform. After entering some information, you’ll instantly get a selection of offers from trusted brands, such as Progressive, Allstate and GEICO, to make sure you’re getting the best deal you can.

    Then there are the pets. While you might not have considered pet insurance as an essential, a surprise medical bill for your furry friend can put a serious dent in your monthly budget.

    According to a 2023 report by Care Credit, emergency surgery can cost anywhere between $1,500 and $5,000.

    BestMoney makes it easy to shop for affordable pet insurance and gives you peace of mind. You can instantly compare coverage benefits, deductibles, geographical availability and reviews — all in one place.

    Supplementing your income

    The cost-of-living crunch could also force some folks to hit pause on major life goals.

    Homeownership, for instance, is getting further out of reach. More than eight in 10 Nevada households wouldn’t be able to afford the median home price in the current market, according to Nevada Housing Now.

    If you do own a home but are struggling with everyday necessities, consider tapping into your home equity to supplement your income.

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

    Having access to your home equity could help to cover unexpected expenses, pay substantial debt, fund a major purchase like a home renovation or supplement income from your retirement nest egg. Rates on HELOCs and home equity loans are typically lower than APRs on credit cards and personal loans, making it an appealing option for homeowners with substantial equity.

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

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

    Another way to leverage your home is with a reverse mortgage. They can be used to supplement your income, pay off substantial debt or fund renovations. You can choose to borrow the funds as a lump sum or fixed monthly payment, and can spend it however you want.

    The reverse mortgage becomes due once the borrower passes away, stops using the home as their primary residence or sells the property.

    You can check out the Moneywise list of industry-leading companies offering reverse mortgages. Compare offers instantly and request a free information guide to help you understand how to get started.

    What to read next

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

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

  • I’m 41 years old, been married 10 years, and just found out my husband has been hiding $50K in credit card debt. Can I be held accountable for his money mismanagement?

    I’m 41 years old, been married 10 years, and just found out my husband has been hiding $50K in credit card debt. Can I be held accountable for his money mismanagement?

    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.

    After 10 years of marriage, it can be hard to find new ways to surprise your spouse.

    But as some couples would tell you, that might not be such a bad thing. Especially when the well-kept secret has to do with money.

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    For one wife, it took a decade of marriage before her husband came clean: he’s dug himself into a hole of $50,000 in credit card debt and he doesn’t know how to get out. Now, in addition to dealing with how this may impact their relationship, the wife is wondering — rather, stressing — about the legal and financial implications for her personally.

    What does it really mean when someone married for, say, 10 years wasn’t aware of their husband owing over $50,000 to creditors?

    With the average American credit card debt hovering around around $7,321 in the first quarter of 2025, this predicament is, unfortunately, more common than it might seem.

    How do we tackle this?

    While many couples take a “what’s mine is yours, and vice versa” approach to finances, that’s a choice they make together. And so much depends on your husband’s attitude here. If he’s contrite and this is your first issue in 10 years, you might handle this very differently than if he’s been known to hide things from you.

    Your husband is certainly not alone in this debt trap. Americans have an absolute mountain of credit card debt — $1.182 trillion, to be exact.

    You may decide to take on the debt as a couple. In which case, keep in mind that credit card debt is among the country’s most expensive forms of debt. Over the last 10 years, average interest rates on credit cards have almost doubled from 12.9% in late 2013 to around 24.33% — the highest level recorded since the Federal Reserve began collecting this data in 1994.

    For most people, avoiding debt — especially the expensive type — is their biggest challenge. The first step? Pay off high-interest debt as soon as possible.

    If you have significant equity in your home, consider using a HELOC (Home Equity Line of Credit) to consolidate debt, reduce interest rates, and speed up repayment.

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

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

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

    If you don’t have much equity in your home, you could still explore consolidating all your debts into a personal loan with a much lower interest rate through platforms like Credible. This can help you pay off debt faster, with just one predictable monthly payment instead of struggling with several.

    Through Credible’s online marketplace, the process of finding the right loan becomes much simpler. Credible lets you comparison-shop for the lowest interest rates with just a few clicks.

    In less than three minutes, you’ll see all the lenders willing to help pay off your high-interest credit cards with a single personal loan.

    Your husband might also consider credit counseling. A reputable counselor can help create a debt repayment plan and provide free financial education resources on managing your money.

    Ultimately, you’ll probably need to have a few frank conversations to get back on the same page when it comes to spending. Dave Ramsey reminds us that "debt isn’t a math problem; it’s a behavior problem.”

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

    What are my rights and responsibilities?

    But maybe things aren’t so straightforward or simple. If you’re worried your husband is drowning in debt and might try to take you down with him, you’ll want to find out how your state handles financial responsibilities differently when it comes to marriage. Divorce or the death of a spouse can impact this, too.

    Most states follow common law, where each spouse is responsible only for debts in their own name. You’re generally not liable for your spouse’s credit card debt unless you co-signed or share the account. Still, creditors can sometimes go after jointly owned assets, like a home or bank account.

    Nine states — Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Texas, Washington, and Wisconsin — use community property laws. In these states, most debts and assets acquired during the marriage are considered shared, even if only one spouse incurred them. That means you could be responsible for debts your spouse took on during the marriage.

    Since financial responsibilities in marriage can be complex and vary by state, it’s a smart move to talk with a financial advisor.

    A trusted, pre-screened financial advisor can help you understand your exposure, protect your assets, and plan a path forward.

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

    According to a Bank of America study, over 90% of the country’s richest individuals work with a financial advisor. Wealthy people know that having money is not the same as being good with money.

    What to read next

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

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

  • Forget Florida — these two unexpected states are the new retirement hot spots, offering lower costs, tax perks and a better quality of life for retirees

    Forget Florida — these two unexpected states are the new retirement hot spots, offering lower costs, tax perks and a better quality of life for retirees

    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.

    Retirees are flocking to some states in droves. While their motivations aren’t entirely clear, the growing cost of living — especially property taxes — is a likely factor.

    A John Burns Research and Consulting study ranked states based on their highest and lowest median property tax rates.

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    Those who are ready might look to West Virginia and South Carolina — two states standing out as retiree hotspots, with property taxes of under 0.5%. While it can be tempting to save money, retirees should fully understand their finances, including their budget and spending habits, before relocating. This ensures they can afford the move, no matter how financially appealing it may seem.

    Here’s what they offer and what retirees should consider.

    West Virginia

    West Virginia is ranked second best for retirement, just behind Delaware. While an official annual retiree count isn’t available, the U.S. Census Bureau reports that as of 2020, the state has a population of approximately 1.8 million, with 22% of the population aged 65 and older.

    According to the Bankrate study, West Virginia is the most affordable state in the country. But West Virginia’s appeal stretches beyond finances. Charleston offers laid-back, scenic mountain living with big-city amenities, as well as a thriving arts and culture scene.

    West Virginia’s affordability also helps residents battle inflation, another sticking point in choosing where to retire. For example, the state has the ninth-lowest average property tax rate in the U.S. (0.55%).

    Another way to combat inflation is by investing in inflation-protecting assets, like gold. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Thor Metals.

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

    To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

    Of course, no retirement destination is perfect. Challenges in West Virginia include access to health care facilities in rural areas, colder winters with significant snowfall and fewer job opportunities for retirees to supplement their fixed income.

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

    South Carolina

    South Carolina’s affordability has improved since 2023, moving up six spots in Bankrate’s study from the previous year. However, the overall cost of living remains above average, at about 95.9% of the national mark.

    Utility costs contribute to the higher expenses, while housing remains affordable. House prices vary by region, but the state’s average home value is around $303,1260 — about 21% below the U.S. average.

    To bring the cost of homeownership down even further, consider OfficialHomeInsurance.com, which can help you get great rates to protect your home. All it takes is two minutes for them to comb through over 200 insurers, for free, to find the best deal in your area. The process can be done entirely online.

    What makes South Carolina stand out is its tax structure. There’s no estate tax, Social Security benefits aren’t taxed and 401(k) and IRA withdrawals are only partially taxed.

    With nearly 200 miles of coastline, retirees can also find idyllic communities on islands like Kiawah and Seabrook.

    While South Carolina’s mild winters and sunny summers appeal to many, retirees should consider the region’s hot summers (with July highs of 89°F), as well as the risks of hurricanes and flooding. Another potential drawback is the state’s relatively high health care costs, ranking 33rd in the study. It’s worth considering how to decrease costs on other essentials to compensate for that.

    For example, OfficialCarInsurance.com makes comparing multiple insurance companies easier than ever. They’ll ask you some quick questions then sort through leading insurance companies in your area, ensuring you find the lowest rate possible. The process is 100% free and won’t affect your credit score.

    Talk to a financial advisor

    At the end of the day, there are plenty of factors to consider before you up and move for your retirement. It’s about so much more than just finding somewhere with better tax benefits or cheaper rent. To figure out the best decision for your personal circumstances, it might be worth consulting with a financial advisor.

    With Advisor.com, you get a trusted partner that’s with you every step of the way in your retirement journey.

    The platform matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you’ve always dreamed of. Start planning early, and get your retirement mapped out today.

    What to read next

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

  • A California woman asked Suze Orman if she’d be responsible for her husband’s credit card debt if something happened to him — here’s what you need to know

    A California woman asked Suze Orman if she’d be responsible for her husband’s credit card debt if something happened to him — here’s what you need to know

    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 an episode of Suze Orman’s Women & Money podcast, Jane from California wrote into the show to pick Orman’s brain about her husband’s credit card debt.

    Her question for the personal finance guru: “If something were to happen to my husband, am I responsible for his credit card debt?”

    Don’t miss

    Jane added that her name is not tied to anything related to her husband’s credit card. However, Orman and her co-host, KT Travis, were quick to point out that this was irrelevant anyway — because Jane lived in a community property state.

    “You most likely will be held responsible for your husband’s credit card debt that was incurred during the marriage,” Orman explained. Here’s what this means for Jane.

    What is a community property state?

    In essence, your spouse’s debts are also your debts.

    In community property states, all assets and debts that are taken on during your marriage (with few exceptions) are considered equally owned by both spouses. In the event of divorce, anything accumulated during the marriage is split 50/50.

    It doesn’t matter who’s name is on the asset or debt since the legal union binds both individuals. So, all financial assets that come into the marriage are typically considered community property.

    If Jane’s husband incurred any debts before the marriage or after a legal separation (such as divorce), Jane would be off the hook because, as Orman pointed out, “they are considered his debts and you would not be responsible for those unless you specifically agreed to take on such debts.”

    While the majority of U.S. states don’t have community property laws, these laws currently apply in nine states, including Arizona, California and Texas. That being said, it is possible to opt out if you sign a prenuptial agreement before the marriage.

    Whether you want to merge or split your finances with your spouse, you can get ahead of the game by speaking to a financial advisor to guide you in taking the right steps. This is especially important if you own property together or if either of you has an extensive portfolio.

    If you’re searching for financial advice, Advisor.com connects you with vetted fiduciary financial advisors near you. All you have to do is answer a few simple questions about your finances, and Adivsor.com matches you with a short list of certified experts to choose from.

    You can then set up an introductory meeting with no obligation to hire.

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

    What to do if you get stuck with your spouse’s debt

    In the unfortunate event that you get stuck with your spouse’s debts, there are some things you can do to help your financial situation.

    Start by reviewing your finances and create a spreadsheet that includes any other outstanding personal debts and an estimate of your monthly expenses. Budgeting aggressively or consolidating the debt is a possible option.

    For example, credit card interest rates tend to be quite high, but by consolidating the debt with a personal loan through Credible, you can get much lower interest rates. That way, you can manage payments more efficiently and prevent the debt from ballooning even more.

    Credible is an online marketplace of vetted lenders where you can browse the best personal loan rates for you and opt to consolidate your debt.

    With interest rates as low as 6.49% and repayment schedules ranging from 24 to 84 months, you’ve got time and flexibility.

    In the end, ensure you and your spouse are in good financial standing before you say, “I do.”

    Another way to consolidate your debt is by tapping into your home’s equity through a Home Equity Line of Credit (HELOC).

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

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

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

    Terms and conditions apply. NMLS#1136.

    Make sure you have savings

    Jane can also offset some of the debt by having savings to fall back on.

    It’s important for anyone — regardless of marital status — to have money saved in case of emergency or in this case, incurred debts from a spouse.

    One way to bulk up your savings is with a high-interest savings account.

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

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

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

    Leave security for your family

    Whether it’s you or your other family members saddled with debt, having financial security guaranteed by life insurance can mitigate the financial impact of losing a loved one.

    By opting for term life insurance through Ethos, you can help ensure that your family will be taken care of when you’re no longer there.

    With Ethos, you can secure coverage in just 10 minutes online or via phone and approval is guaranteed regardless of any pre-existing conditions.

    Ethos also gives you the flexibility to select coverage amounts ranging from $2,000 to $100,000.

    With fixed rates, you can rest assured that your rates will never go up on your policy. Ethos offers a 30-day money-back guarantee if you aren’t completely satisfied with their services.

    What to read next

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

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

  • ‘We’re not robots’: As recession looms, Americans may be unsure about what to do with their 401(k) — here’s what experts recommend

    ‘We’re not robots’: As recession looms, Americans may be unsure about what to do with their 401(k) — here’s what experts recommend

    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 1950, the US has weathered 11 recessions, proving time and again that downturns aren’t a question of if, but when.

    After a strong performance from the S&P 500 in 2024 — which experts hailed as a “very good year” — storm clouds are forming. Trump’s aggressive tariff policies have rattled markets with the S&P 500 entering correction territory in April 2025.

    Don’t miss

    Times like these may have long-term investors wondering what they should do to protect their portfolios. The answer? Do nothing and stay the course.

    “Generally, the advice boils down to staying invested. But I firmly believe that just saying ‘stay invested’ doesn’t work on days when stocks are in free-fall and the world feels terrible,” Callie Cox, chief market strategist for Ritholtz Wealth Management, said to The Washington Post.

    “We’re not robots, we’re humans with emotions, and we need to honor that in times like these.”

    Why you shouldn’t panic sell

    Watching the portfolio you’ve built for retirement fluctuate can be unsettling, especially when market downturns threaten the very assets you plan to rely on.

    However, selling and moving your money to the sidelines is typically not the best course of action.

    “Seventy-eight percent of the stock market’s best days have occurred during a bear market or during the first two months of a bull market,” according to Hartford Funds, an asset management firm that includes Schroders and Wellington Management. “If you missed the market’s 10 best days over the past 30 years, your returns would have been cut in half. And missing the best 30 days would have reduced your returns by an astonishing 83%.”

    The importance of a diversified portfolio

    One way for investors to diversify a portfolio is by buying into international assets, with well-known asset management firm Vanguard suggesting at least 20% in international stocks and bonds as a benchmark.

    However, diversification isn’t just about protecting your portfolio — it’s about building resilience. That’s why holding investments beyond the S&P 500 can act as a cushion when the economy hits a rough patch.

    But stocks aren’t the only way to diversify your portfolio.New investing platforms are making it easier than ever to tap into the real estate market.

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

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

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

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

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

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

    Another popular hedge against inflation with investors is gold, which historically performs well when the market is shaky, and hit an all-time high in early April.

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

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

    To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

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

    Nearing retirement

    As you near retirement, market volatility and ongoing inflation can make the road ahead feel precarious, but reacting to short-term turbulence with long-term portfolio changes can be a costly misstep. Instead it can pay to prepare your portfolio for retirement by slowly switching your investments to low-risk options.

    Christine Benz, director of personal finance and retirement planning at Morningstar, told The Post that allocating 25% to 30% of your portfolio to short and intermediate-term bonds is a good approach for those approaching retirement.

    But make sure you don’t give up on growth entirely.

    “Remember that even though retirement is a few years away, that is just the start of retirement,” Corbin Blackwell, senior manager of financial planning at Betterment, told The Post. “For most people, their money needs to last decades, so don’t lose sight of your real-time horizon.”

    If you’re unsure of the best approach for you, it might be worth speaking with a financial advisor who can help craft a retirement strategy that fits your goals — and gives you peace of mind as you step into your next chapter.

    Advisor.com can help you find someone that’s right for you.

    This online platform connects you with vetted financial advisors in minutes. How it works is easy: Just answer a few quick questions about yourself and your finances, and the platform will match you with a financial advisor best suited to helping you make your money last in retirement.

    From here, you can view their profile, read past client reviews and schedule an initial consultation for free with no obligation to hire.

    What to read next

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

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

  • JPMorgan studied 5 million retirees across America — and found 3 surprising spending shockers. Is your 7-figure nest-egg actually hurting you?

    JPMorgan studied 5 million retirees across America — and found 3 surprising spending shockers. Is your 7-figure nest-egg actually hurting you?

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

    Most retirees worry about running out of money because of spiralling inflation and unexpected medical costs as they age.

    However, after studying the spending patterns of five million retirees, JPMorgan has uncovered something surprising: Some of these concerns might be overblown.

    Don’t miss

    Perhaps the biggest shocker is that some retirees might not need as much savings as they believe to retire comfortably. Here are three reasons why.

    1. Inflation isn’t as scary

    Most financial planners assume your retirement spending will rise annually with inflation. Historically, inflation averaged 2.9% from 1982 to 2024, according to JPMorgan.

    But that’s a general figure. Retirees tend to shift their spending as they age — dropping more on healthcare but less on clothes, dining out and commuting.

    As a result, some retirees with modest wealth often see their overall expenses gradually decline over time. Their inflation experience differs from those in their peak earning years.

    “Looking across the range of households in our dataset, our key finding is that people generally spend less than expected,” notes a previous JPMorgan report.

    “For partially and fully retired households with $250,000 to $750,000 in investable assets, the annual inflation-adjusted change in spending is just 1.65%.”

    Still, inflation remains a constant reality — especially over a retirement that could last decades. That’s why it’s important to protect your purchasing power. One proven strategy is investing in gold, which has historically served as a hedge against inflation and currency erosion.

    Even better, the price of gold has jumped by more than 40% since 2023. JPMorgan projects that it will hit the $4,000 mark by 2026.

    If you buy into gold’s long-term value, you don’t have to find and store the bars yourself. Instead, you could opt for a gold IRA to hedge against inflation by investing directly in precious metals.

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

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

    To learn more, you can get a free information guide that includes details on how to get up to $20,000 in free metals on qualifying purchases.

    2. Big, temporary bump in spending

    JPMorgan’s analysis revealed an interesting trend: Spending tends to rise noticeably in the few years leading up to and following retirement. Retirement marks a significant life transition. It’s perhaps unsurprising for people to spend more during these early years — whether on healthcare, relocating, traveling, wining and dining or finally enjoying long-anticipated leisure activities.

    After this surge, spending typically levels off and declines over time. It’s important to factor this spike into your retirement planning so your finances stay on track.

    To help manage this transition, it’s wise to maintain a cash cushion in a high-yield savings or checking account, such as those offered by SoFi. A high-yield account can help your savings grow while still keeping funds accessible.

    SoFi offers up to 4.00% APY and doesn’t charge account, monthly or overdraft fees.

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

    As you near retirement, try to keep at least one year’s worth of living expenses in cash. For added peace of mind, some experts — like Suze Orman — advise setting aside up to five years’ worth to ensure greater financial stability and flexibility.

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

    3. Everyone doesn’t spend the same way

    Retirement planning isn’t a one-size-fits-all endeavor. Your senior years could look very different depending on your health, life goals and personal relationships.

    To account for this, JPMorgan places retirees into six different categories depending on their spending patterns.

    These categories range from “Steady Eddies” who spend a consistent amount of money, to “Upshifters” who enhance their lifestyle post-retirement and “Rollercoasters” who have a more unpredictable lifestyle.

    One unexpected expense that can catch you off guard in retirement is insurance. U.S. homeowners insurers have hiked premium rates by double-digits over the past two years, with the largest calculated increase occurring in Nebraska at 22.7%, according to S&P Global Market Intelligence.

    It could pay to take a closer look at your home and auto insurance, especially if they’re up for renewal. Shopping around is one of the best ways to find better rates, but calling individual providers can be time-consuming and tedious.

    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.com can make it easy to find the coverage you need at a price that can fit your budget.

    But 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. Like with home insurance, shopping around and bundling 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. Their matchmaking system takes into account your location, vehicle details and driving history to find the lowest rate possible for you.

    Deals start at just $29 per month and you can switch over your policy in only a few minutes.

    Planning for tomorrow, today

    Considering all the research, creating a retirement plan based on broad assumptions probably isn’t the best approach. For a truly comfortable retirement, your plan needs to be customized to your individual needs.

    For example, you could be planning to travel during your golden years or downsize to reduce housing costs. These choices will significantly impact how much money you’ll need and your investment plan.

    Being up front in accepting what you want is one thing. Figuring out how to get there is another.

    A trusted, pre-screened financial advisor can help you develop a solid retirement strategy — whether you’re downsizing to take better advantage of city life or you’re beachward bound.

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

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

    Once you match, you can book a free consultation call to see if they’re a good fit for you. After all, a good financial advisor is a lifetime partner in making the most out of your money.

    What to read next

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

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

  • This is the true value of having a fully paid-off home in America — especially when you’re heading into retirement

    This is the true value of having a fully paid-off home in America — especially when you’re heading into retirement

    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.

    There’s great news for America’s homeowners: A growing percentage now own their homes outright. No mortgage, no liens.

    U.S. Census Bureau data showed that in 2024, about 38.8% of owner-occupied homes in the United States are owned outright, meaning they no longer have mortgages to pay. That is a 40% increase between 2012 and 2022.

    Don’t miss

    Over half of homeowners from this reporting period are also above the retirement age of 65. So if you’re fortunate enough to be mortgage-free and headed towards retirement, chances are you have a lot going for you financially.

    For starters, the worth of your home, should you choose to sell it, represents 100% equity — meaning your bank owns none of it. If property values in your area have jumped since buying, your home is now much more than a roof over your head. It’s also a storehouse of wealth.

    Here’s a closer look at what a fully owned residence could translate to in dollars and cents.

    Hard-won returns

    It’s important to note that homes don’t provide returns like traditional investments. After years of mortgage payments, much of your money goes to the lender.

    For example, on a $500,000 home with a $100,000 down payment and a 15-year mortgage at 2.5%, you’d pay around $80,000 in interest, excluding property taxes, repairs and insurance.

    Even if you don’t own your own home, there are other ways to get the housing market working for you without a hefty downpayment or managing property. New investing platforms are making it easier than ever to tap into the real estate market.

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

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

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

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

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

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

    Between 2008 and 2013, home prices more than doubled, according to the Federal Housing Finance Agency. This means that a $500,000 home bought in 2008 could be worth $1.08 million today.

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

    Your fully owned home’s ripple effect

    Another way to determine what your paid-off home is worth is by considering how it impacts your retirement budget.

    By eliminating a $2,500 mortgage payment, you cut your annual expenses during retirement by $30,000.This can help bring your retirement income needs closer to the lower end of the 55%-80% range suggested by Fidelity. Paying off your home before retirement can make for more years of mortgage free investing.

    For example, paying off your home by 60 years of age frees up $150,000 to invest over five years. At a 7% return, that can grow to $210,000 — providing a solid retirement cushion and the means to build extra wealth.

    Real estate investing can be a proven path 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.

    Through strategic investments in commercial properties and residential real estate, investors can create a robust portfolio that provides both immediate returns and long-term growth.

    Today, innovative investment platforms are making real estate more accessible than ever. First National Realty Partners (FNRP) allows accredited investors access to grocery-anchored commercial real estate investments with a minimum investment of $50,000.

    With FNRP, investors own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, providing potential cash flow without the headache of tenant costs and management.

    Cashing out your equity

    One creative way to fund your retirement lifestyle is through a reverse mortgage, which lets you tap into your home equity to supplement your income, pay off substantial debt or fund renovations.

    The average homeowner has a home equity of $313,000 as of March 2025, according to the ICE Mortgage Monitor report. This could beis quite substantial depending on your financial situation.

    You can choose to borrow the funds as a lump sum or fixed monthly payment and can spend it however you want, allowing you to turn all that home equity into tax-free cash, helping to support your retirement lifestyle.

    With a reverse mortgage, you can continue living in your home while accessing its value — and you won’t have to make monthly mortgage payments. The loan only becomes due when you move, sell the home or pass away.

    You can check out Money.com’s list of industry-leading companies offering reverse mortgages here.

    Compare offers instantly and request a free information guide to help you understand how to get started, and to see if a reverse mortgage is right for you.

    What to read next

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

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