Author: Monique Danao

Abigail, a 70-year-old woman from Portland, Oregon, says she’s “trying very hard to make it possible to retire by 80.” That goal may be within reach now that a solar company has offered to lease her farmland. Still, she’s not sure if the deal is a financial lifeline or a liability.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

She called into The Ramsey Show seeking advice and said the company wants to lease 45 acres of her property to build a solar farm, offering a payout of about $4 million for 40 years.

Accepting could allow Abigail to retire in a few years — but there are potential pitfalls.

“I’ve looked at these deals,” said personal finance personality Dave Ramsey. “ In the event they go bankrupt, obviously this lease is cancelled, and then you’ve got a bunch of junk on your farm that’s got to be hauled off. It’s very expensive to get rid of it … You’re leaving this mess for your heirs then.”

A warning and an alternative

Ramsey warned that accepting the lease would effectively place a lien on the property, which Abigail said is worth $3 million today.

Even though she would technically own the land, it would be tied up in the deal for decades. Any future buyer would have to accept the lease terms which complicates a potential sale or inheritance.

Ramsey questioned whether this was all worth it. “ You’re not gonna like my answer, but I wouldn’t tie up a $3 million asset for that and have my whole backyard full of this.”

He offered an alternative: “ I would sell 10 acres and use that money to live off of.”

Abigail’s husband is not in support of renting out the land or selling it, but Ramsey had a blunt response to this. “You’re working at 70 years old and worried about how you’re going to eat at 80. Your husband didn’t save enough money when he was young and working to provide for his wife’s food, and so we’re going to sell some of his land.”

Ramsey said she should figure out how to sell 10 acres to generate $1.5 million by talking to a real estate agent and a land surveyor. That would give her the money to retire without encumbering the rest of the property or saddling her heirs with a long-term lease.

Ramsey’s advice is clear: avoid complexity and don’t leave behind a problem disguised as a paycheck.

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

Do your research

Leasing land for solar development has let land owners generate passive income, but it’s not always the best option. If you’re facing a situation like this, there are resources online to help you make the right decision.

Mike Nuckols of the Cornell Cooperative Extension Jefferson County made a list of considerations when leasing agricultural lands to solar developers.

“Given the long-term ramifications, we strongly recommend that you have lease agreements reviewed by an attorney to avoid unexpected surprises such as transfer of mineral rights or mandated renewal after the performance period expires,” he wrote. “Due diligence is required to avoid exaggerated claims of financial windfall or outright scams.”

For example, look closely at end-of-lease terms. The developer should be responsible for removing equipment and restoring your land at the end of the lease. You also need to consider tax implications, what will be possible on the land not rented out, and if the developer is obeying local laws and obtaining necessary approvals, among other factors.

The SEIA (Solar Energy Industries Association) has also published a guide for solar land leasing.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Blue Diamond Growers will permanently close its flagship Sacramento processing plant, which will result in the loss of approximately 600 jobs in the region. The 115-year-old company blamed maintenance costs and persistent inefficiencies for the shutdown.

The company will consolidate manufacturing work into its existing facilities in Turlock and Salida, which are located in California’s Central Valley.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

“Our Sacramento team’s work ethic and incredible drive have enabled us to build Blue Diamond into what it is today,” CEO and president Kai Bockmann told ABC News.

“However, the challenges of running a plant from these historical buildings has become too costly and inefficient. Streamlining our manufacturing plants is the right business move.”

End of an era

Founded in 1910, Blue Diamond has long been a fixture in California’s agricultural sector. In the meantime, the cooperative is offering severance packages, relocation support and incentives to 600 employees to help with the transition.

Despite the company’s assurances, the closure has sparked concerns about Sacramento’s ability to support major businesses.

“Proof is in the pudding,” Sanjay Varshney, a finance professor at Sacramento State University., told ABC News.

“Blue Diamond walking away is just another sign that there’s something wrong with how we are doing business here.”

Varshney cited Sacramento’s high cost of living, burdensome regulatory environment and business-unfriendly conditions as key deterrents. He dismissed the idea that international trade or tariffs were the main reasons for the closure.

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

What to do when facing layoffs

A layoff can make a big impact in your financial situation, not to mention your emotional well-being. The good news is you can help navigate the fallout with a clear game plan.

Know your benefits and severance: Insist on everything in writing and review every aspect of your exit package including your severance pay, company-sponsored health coverage and any outplacement services.

If your employer-provided health insurance ends, consider COBRA coverage or explore plans through Covered California or Healthcare.gov. Losing a job qualifies you for a special enrollment period.

Apply for unemployment insurance immediately: File a claim through your state’s unemployment office. Unemployment benefits become available only after your claim is processed, so don’t delay.

In California, most workers qualify for 50% of their regular wages, up to $450 per week for as long as 26 weeks, though exact amounts depend on prior earnings and state rules.

Reassess your finances: Review your monthly expenses and cut nonessentials. Use emergency savings wisely and contact lenders or utility companies to discuss bill assistance programs or payment deferrals if needed.

Update your resume and tap your network: Network with former colleagues, industry contacts and career counsellors. Inform your LinkedIn network, for example, that you’re open to work and consider attending local job fairs or virtual networking events.

Consider retraining or upskilling: Free or low-cost training programs are available through local workforce development centers and platforms like Coursera or LinkedIn Learning. Focus on in-demand fields like health care, logistics and technology.

Blue Diamond’s shutdown echoes a nationwide surge in layoffs. The U.S. Bureau of Labor Statistics reports that 1.8 million workers have lost their jobs in 2025.

In Sacramento, the loss of a century-old employer underscores that even the most established businesses can falter amid shifting economic currents — and highlights the urgency of diversifying the region’s economic base.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

When 74-year-old David Carr of Cleveland opened the letter from the Social Security Administration (SSA), he was unprepared for what it said.

The SSA told him that his late wife, Deb Carr — who died in March 2020 — had somehow collected $1,700 in unemployment benefits between March and September 2020. He was notified that he must repay the entire amount, even though it appears someone else claimed those payments.

Carr relies on Deb’s survivor benefits to help care for their two adult children who have special needs.

“That was like a… like a knife right in the ribs,” said Carr. “And I thought, man, I can’t take that because they’ve already lost their food stamps.”

The urgency to repay the money threatened the family’s ability to cover rent, utilities and medical expenses.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

Challenging the claim

Suspicious of the claim, Carr secured a certified copy of his wife’s death certificate. Armed with this documentation, he visited his local SSA field office — only to be rebuffed.

“The guy wouldn’t even talk to me,” Carr recalled. “How could she collect six months of benefits when she passed away in March?”

Left with no recourse, he enlisted the help of News 5 Investigators to press SSA for answers.

After News5 reached out on his behalf, Carr says SSA representatives finally agreed to review the case.

“We’re going to get a letter to you showing that you are cleared from all of this,” Carr was told in a phone call that reduced him to tears. The erroneous overpayment notice has since been rescinded.

How often do overpayment notices occur?

While the SSA disburses benefits to nearly 74 million Americans each month, overpayment notices are not rare.

An audit by the SSA’s Office of Inspector General found that from fiscal years 2015 to 2022, the agency made about $72 billion in improper payments. Moreover, the SSA had an overpayment balance of $23 billion in 2023.

There were approximately 333,000 reported claims of fraud, waste, or abuse in SSA programs and operations.

The overall rate of improper SSA payments is below 1% of the total benefits paid for that period. Nevertheless, even a small percentage of errors can have outsized consequences for households living on fixed incomes.

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

Protecting your benefits

Recipients who receive an unexpected overpayment notice can take several steps to safeguard their finances:

• Gather Documentation: Collect death certificates, bank statements and any relevant correspondence before contacting SSA.

• Contact SSA Promptly: Call 1-800-269-0271 or file an inquiry online at SSA.gov to initiate a formal review.

• Seek Advocacy: Nonprofit organizations, ombudsmen and local experts can guide beneficiaries through appeals and complex paperwork.

• Monitor Annual Statements: Review your SSA benefit statement each year and enroll in My Social Security to receive electronic notices and so you can detect discrepancies quickly.

For David Carr, prompt action and outside support made all the difference. His experience shows that beneficiaries should never dismiss alarming notices — even when they feel like it’s a nightmare to tackle.

Recipients can defend their lawful benefits by staying vigilant, documenting details diligently and demanding accountability. Being proactive also helps manage uncertainty that comes with a wrongly issued bill.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

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

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

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

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

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

Ramsey didn’t mince words about the risks. “It’s one of the most volatile, high-risk investments on the planet. And it’s not technically an investment, it’s actually called speculation.”

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

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

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

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

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

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

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

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

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

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

“We are Christian and we do not gamble,” she explained. “But we felt like God showed us these three specific coins that we’re invested in. And we have just been waiting for the right time for him to show us when to sell, which is why we’ve been holding for five years through two bull runs.”

Arabella’s story struck a nerve with Ramsey. He drew a clear line between what he believes are scriptural principles of long-term investing and speculation.

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

Ramsey made his position crystal clear — for her and anyone else listening: when you’re deep in debt, hoping for a crypto miracle isn’t a plan. It’s a bet.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Is lending money to family always the right thing to do?

Consider the case of Eric, a 33-year-old who is debt-free, owns his own business and lives comfortably after years of hard work and risk-taking. When his 29-year-old sister recently asked him to cover a few months of her rent, he said no.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

It wasn’t because he couldn’t afford it. It was because he’d done it before.

Still, Eric insists the decision isn’t about greed. It’s about boundaries.

Lending money to family: What could go wrong?

According to Lending Tree, 35% of Americans who lent money to family or friends reported negative consequences. These include hurt feelings (14%), decreased contact (11%) and resentment (10%).

Lending to family can also blur emotional lines. It’s one thing to help someone in a crisis. But if there’s no plan for repayment or accountability, it can easily lead to resentment.

A short-term favour can quickly shift the family dynamic and turn one sibling into a provider and the other into a dependent.

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

Financial help doesn’t equal financial handouts

Saying no to lending money doesn’t mean saying no to helping. Some forms of support can be more beneficial in the long run. Here are a few alternatives that might empower your sibling more than a temporary bailout:

• Offer to review their budget: Sometimes, all it takes is a fresh set of eyes to spot where money is going. Instead of offering cash, propose working together toward a goal like building an emergency fund.

• Help them apply for jobs or update their resume: A part-time job might not cover everything. Offer to help update their resume, practice for interviews, search for better opportunities or tap into your network on their behalf.

• Help them explore debt consolidation: If they’re overwhelmed by bills, consolidating the debt into a single, lower-interest payment might help them catch up.

• Set boundaries with conditions: If you choose to help in the future, consider setting clear expectations, like one-time assistance, partial repayment, or proof of an action plan.

• Connect them with a financial advisor or credit counsellor: If the situation is complex, a professional can offer tailored advice and help them build a sustainable plan to get back on track.

There’s another often-overlooked cost: your peace of mind. Financial boundaries are just as important as emotional ones, especially when you’re working hard to maintain your own stability.

Prioritize your financial stability

Eric’s situation is a reminder that being financially stable doesn’t mean being responsible for fixing other people’s problems. Saying no to a loved one can be hard.

But it can also be the first step toward healthier boundaries and long-term solutions.

Whether his sister agrees is uncertain. But Eric’s stance is firm — not out of coldness, but out of care. He wants her to thrive on her own terms, not just get by on someone else’s dime.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

When Tanisha Bryant’s Greyhound bus to Canada was canceled this winter, she says the company compensated her with a $479 voucher for future travel.

She kept it and planned to use the credit when her schedule and budget aligned, according to NBC10 Philadelphia.

In April, Bryant, who lives in Philadelphia, and a friend logged on to Greyhound’s booking site to reserve a trip to Virginia Beach with Greyhound. To her shock, the digital voucher registered a balance of $0.

“I thought, maybe I made a mistake,” Bryant recalled. “So I tried it again. Zero dollars.”

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

From $479 to $0 voucher

Bryant says she immediately phoned customer service, only to be told, “It looks like you’ve already used this voucher.”

When she asked when and by whom, the agent had no record — and promptly hung up.

“I was speechless,” Bryant said. After multiple calls and emails, she filed a complaint with NBC10 Philadelphia.

She shared her documentation — the original ticket, voucher details and correspondence — with NBC10. Three days later, Greyhound’s customer service team reached out. Instead of reissuing a new voucher, Bryant was informed the carrier would refund her the full $479 in cash.

“I received an email that they decided… we’re just gonna give you the money outright,” she said.

When NBC10 asked for Greyhound’s official response, the company declined to explain the initial error but issued this statement: “We are committed to doing everything possible to ensure our customers have a positive travel experience. If they have questions or need help before, during, or after their trip, our dedicated customer service team can provide timely assistance by phone, chat, or email.”

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

Preventative steps for travelers

Many tourism companies offer travel vouchers to compensate consumers for failed trips. In 2020, GMA reported passengers had over $10 billion in untapped travel credits.

Still, even legitimate vouchers can sometimes lead to unexpected complications. To safeguard yourself in the event of a failed voucher, it’s wise to adopt a few best practices.

• Document the voucher immediately: Note the voucher number, issue date and expiration. Screenshot the digital voucher or save the email as a PDF to have a permanent record.
• Confirm usability before shelving it: Call customer service as soon as you receive the voucher. Ask the representative to verify the balance and expiration, and record their name, employee ID and call time.
• Use it promptly: Policy changes or system errors can render unused credits worthless. Booking your next trip as soon as possible helps you minimize the risk.
• Understand terms and conditions: Read restrictions such as blackout dates, transferability and refund policies. Many vouchers expire within a few months and may carry blackout or minimum-spend requirements.
• Protect with travel insurance: If you paid for the original ticket with a credit card or have separate travel insurance, verify whether it covers unused vouchers or additional out-of-pocket costs if the voucher fails.

A good tip to remember is to capture every detail when you receive your voucher and confirm its value before it’s too late. Acting swiftly not only protects your travel credit but also spares you the kind of ordeal Bryant experienced.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

Frustrated homeowners across the U.S. are reluctantly slashing asking prices by tens of thousands of dollars as the real estate market shifts out of their favour.

After years of soaring home values, today’s market tells a different story — buyers are cautious, mortgage rates are high and inventory is swelling.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• 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

According to a recent Redfin report, the median U.S. home seller is now asking for 9% more than what buyers are willing to pay. That amounts to a roughly $39,000 gap — a significant miss for those relying on their home sale to fund their next move.

As sellers adjust to a slower pace and more selective buyers, they ask a critical question: Should I price high and wait, or price low to sell fast?

Here’s what the data says about the risks of waiting, the rewards of pricing strategically and how to strike the right balance.

The financial risks of delaying price cuts

Holding out for top dollar may sound appealing, but it can cost you in today’s market. Homes that linger on the market accrue thousands in carrying costs, from mortgage payments and property taxes to maintenance and insurance.

Take, for example, a $500,000 home with estimated monthly costs of $3,000. If it sits unsold for three extra months, that’s $9,000 in out-of-pocket expenses — not including price reductions or buyer concessions.

There’s also market risk. Rising inventory is giving buyers more leverage. Realtor.com data show active listings were up 30% year-over-year in April. As more properties hit the market, sellers risk being edged out by newer, better-priced homes.

And then there’s opportunity cost. MarketWatch reports sellers like Spencer Bauman in Utah, who had to cut $75,000 from his asking price after 72 days with no offers, face delays in moving forward with their next purchase or financial goals.

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

Benefits of a strategically priced home

Getting the price right from the start can lead to a faster sale, less stress and more money in your pocket.

Most buyer activity happens in the first two to three weeks of a listing. If a home is overpriced during that crucial window, it can quickly become a “stale listing.”

Buyers may assume something is wrong with it or use its time on the market to negotiate steep discounts.

A well-priced home, by contrast, can generate more interest, leading to faster offers and fewer concessions. It also keeps your timeline predictable which is an essential factor if you rely on the proceeds for a down payment or avoid bridge financing.

“The most important thing you can do as a seller is fairly price your home. If you overprice, chances are you’ll get no activity, and then it will become even harder to recoup your investment," Redfin Premier Real Estate Agent Chaley McVay said in the report.

What’s the middle ground?

You don’t have to underprice your home — just price it smartly. Start by getting a realistic valuation based on comparable sales in your area, not wishful thinking.

In some markets, pricing slightly below the competition can spark buyer interest and lead to multiple offers. It also gives your listing a psychological edge.

A home priced at $489,000 feels more approachable than one at $500,000, even if the difference is negligible.

Finally, set a timeline. If your home hasn’t attracted serious interest within 21 days, be ready to reevaluate your price or make improvements that could boost appeal.

In today’s market, the best strategy is to stay nimble. Sellers who understand buyer sentiment and act quickly, instead of clinging to yesterday’s prices, are likely to close the deal.

What to read next

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

Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. Subscribe now.

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

When Anna Hewson’s daughter’s iPhone disappeared one weekend, she did what any parent would do — she followed the digital crumbs.

Using Apple’s “Find My” app, the KUSA 9News producer tracked the stolen device until it ended up at a Walmart in Arvada, Colorado.

Inside the store stood an EcoATM, a kiosk that pays cash for used phones. Hewson had a hunch, so she called the police. Moments later, officers unlocked the machine with help from EcoATM’s customer service. Inside the bin sat a pile of locked phones, including her daughter’s.

Don’t miss

• I’m 49 years old and have nothing saved for retirement — what should I do? Don’t panic. Here are 6 of the easiest ways you can catch up (and fast)
• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now
• Gain potential quarterly income through this $1B private real estate fund — even if you’re not a millionaire. Here’s how to get started with as little as $10

“At face value, the idea that you can walk in and turn over, sell stolen property to a machine, it seems like the perfect vehicle to further your crime,” Arvada Police Department Public Information Officer Chase Amos told 9News.

What are EcoATMs?

EcoATMs are automated kiosks found at major retailers, including Walmart. They offer users instant cash in exchange for used electronics.

The machines scan a seller’s ID, take a thumb print, snap a photo and send the data to live agents for verification. Devices are held for at least 30 days at a processing center in Louisville, Kentucky, which offers a short window where owners can recover stolen property.

EcoATM claims to work closely with law enforcement, logging device serial numbers in national databases and cooperating with investigations.

“EcoATM happily and voluntarily cooperates with law enforcement when requested. If a missing phone does end up in one of our machines, it is returned to the rightful owner,” a company spokesperson told 9News.

Still, theft victims say recovery isn’t always so simple.

Despite robust security measures, the high volume of stolen phones and the anonymity offered by kiosks make investigations challenging for law enforcement.

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

Frustrating search for a stolen phone

Michael Dill, a Denver veteran, told 9News that he was mugged on St. Patrick’s Day in 2024. Hours later, he tracked his phone to an EcoATM in an Englewood Walmart. Though he reported it, Dill said he spent weeks in a frustrating loop trying to confirm the phone’s presence at EcoATM’s warehouse.

Eventually, the company sent him a replacement device. But, he says his old phone later resurfaced in the hands of someone with a UK phone number who texted him and demanded he remove the device from Apple’s security system. When Dill refused, the texter threatened to access his data.

He contacted Apple, which assured him the phone would remain locked and his data would remain secure.

In a statement to 9News, EcoATM said Dill’s phone was not found among any devices in its warehouse.

“Because we were unable to locate Michael’s phone, we were unable to return it to him,” a spokesperson said. “However, we did in good faith, provide him with a complimentary replacement device.”

Protecting yourself devices

On the bright side, there are several ways to help protect yourself from scams involving services like EcoATM.

• Log your IMEI. Record your phone’s international mobile equipment identity and serial number, which can usually be found in the “About” section of your device settings.

• Purchase phone cases with anti-theft features. Or, choose phones with built-in anti-theft features and enable tracking apps, like Apple’s “Find My” app, to locate your device in real time.

• Choose smart insurance plans. Opt for plans with lower deductibles or comprehensive coverage in case of theft.

• Secure your phone. Help protect your private data by using fingerprint or face recognition to unlock your phone.

• Enable remote wipe. Set up remote wipe capabilities to erase your information if your phone is stolen.

If your device is stolen, report it to your local police department. If you do track it to an EcoATM kiosk, notify the company via their customer service line. But, authorities warn people should never try to go out and find the phone on their own.

What to read next

• JPMorgan sees gold soaring to $6,000/ounce — use this 1 simple IRA trick to lock in those potential shiny gains (before it’s too late)
• This is how American car dealers use the ‘4-square method’ to make big profits off you — and how you can ensure you pay a fair price for all your vehicle costs
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

Like what you read? Join 200,000+ readers and get the best of Moneywise straight to your inbox every week. Subscribe for free.

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