Author: Rebecca Holland

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The 4% rule in retirement has been a widely accepted retirement standard for over 30 years.

The rule states that you should draw 4% of your assets from your investments each year in retirement. This should, in theory, allow you to maintain a comfortable standard of living while continuing to let your investments appreciate in value.

However, it seems this longstanding rule could be poised to fall.

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A recently retired caller to The Ramsey Show asked host and finance personality Dave Ramsey if it would be safe to go up to a 5% withdrawal rate in order to pay for trips he and his wife wanted to take in early retirement.

Ramsey has said he believes that retirees can earn up to a 12% annual return from mutual funds, and will therefore be safe to withdraw more than the standard 4% per year without jeopardizing their nest egg. He calls the standard rule “absolutely wrong” and “ridiculous.”

But another finance celeb has a very different opinion.

Suze Orman has called the classic 4% rule “very dangerous.”

Orman, a fellow best-selling author and expert, also called for a tweak to the 4% rule in an interview with Moneywise — saying that retirees should only withdraw a maximum of 3% yearly if they are retiring in their 60s.

Who’s right? Here’s what to consider.

The importance of retirement accounts

Ramsey’s advice is based on a number of suppositions that may not reflect the real financial status of the average retiree.

Inflation will eat away at the value of your retirement savings, and it’s very possible that your retirement years could coincide with a period of higher inflation.

That’s not to mention the stock market’s volatility. Many experts believe a consistent 12% return, like Ramsey has optimistically said mutual funds can deliver, may not be likely.

Suze Orman’s advice, on the other hand, is more conservative. She advises retirees to withdraw as little as possible from their savings, which is a safer approach.

Either expert would argue that the best way to make your money last in retirement is to start saving as early and as aggressively as you can.

One of the best ways to save for retirement is with an IRA. But with the fluctuations of the market, you may be wondering if there are safer investment options available.

For example, Opening a gold IRA with help from American Hartford Gold combines the tax advantages of an IRA with the inflation-resistant properties of gold.

Gold has historically acted as a hedge against inflation, and many professional investors such as Ben Mallah and Peter Schiff tout it as a solid alternative investment to the stock market and way to diversify your IRA as the price of gold continues to rise.

As one of the nation’s most reputable and trusted precious metal companies, American Hartford Gold is a source for IRAs and direct purchases of precious metals and coins that many retirees trust.

Before you begin investing however, you need a plan. And while Ramsey and Orman make good points on withdrawal strategy, you may need help that’s more tailored to your personal situation. If you’re unsure of how to navigate planning for retirement on your own, calling a professional give you some peace of mind.

Advisor.com simplifies the search process by connecting individuals with an exclusive network of fiduciary advisors, each dedicated to transparency and held to high ethical standards.

All you have to do is answer a few simple questions regarding your finances and long-term goals, and Advisor.com will connect you with a vetted expert near you who is best suited for your needs. You can then set up a free, no-obligation consultation to see if they’re the right fit for you.

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

Boost your existing savings

If you’re already in retirement, you may want to follow Ramsey’s advice on growing your existing savings with safe vehicles like mutual funds. However, many retirees have not considered the benefits of certificates of deposit, whose returns can now exceed 5%.

Between 2008 and 2022, when certificate of deposit rates were practically zero, and their appeal to investors about the same, they fell out of favour. But since the Fed started aggressively raised interest rates to combat inflation, certificates of deposits (CDs) have become a hot topic once more. And even though rates are slowly coming back down, these accounts are still worth a look.

With SavingsAccounts.com you can shop and compare top certificates of deposit rates from various banks nationwide.

Their extensive database shows the most competitive rates, with daily rate updates and personalized recommendations based on your risk preferences and time horizon so you can find the right CD to meet your retirement savings goals.

Parking your savings in these short-term growth funds will allow you to plan year-to-year and continue to grow your savings when you’re on a fixed income.

You can check out Moneywise’s Best High Yield Savings Accounts of 2025 to find some savvy savings options that earn you more than the national average of 0.4% APY.

Invest for passive income in retirement

Dave Ramsey is a huge advocate for finding new passive income streams to pay down debt and build savings. While much of his advice is focused on finding a lucrative side hustle, for those in their golden years, a more relaxed approach may be easier to incorporate.

One of the easiest ways to grow your savings and portfolio is through Acorns, an automated investing and saving platform that simplifies the process of setting aside extra funds.

When you spend on anything — groceries, gas, or bills — Acorns automatically rounds up the price to the nearest dollar and deposits the difference into a smart investment portfolio for you, allowing you to grow your wealth without even thinking about it.

You can also customize how you save.

With an Acorns Silver plan, you get access to Acorns Later, a retirement investment account with a 1% IRA match on new contributions.

You can also opt for Acorns Gold plan, which offers a 3% IRA match on new contributions and the ability to customize your portfolio by selecting your own stocks.

Sign up now and for a limited time you’ll get a $20 bonus investment.

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• 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.

Relationship patterns in the U.S. are changing. As of 2023, 9.1% of the population was cohabiting without being married, up from only 3.7% in 1996. With more unmarried couples opting to have children and buy homes together, those living in these types of partnerships should be aware that, while values have changed, the law in many cases has not kept up with the times.

Consider this scenario: You’re 29 years old, planning to buy your dream home with your partner. You’ve been living together for several years, and have a child together. While they have been saving up for a down payment, you have been doing most of the childcare, and diligently paying off your student loans to reduce your overall debt load in the relationship. You’ve found a house you love, but then your partner drops the bombshell: They believe that since they’re the one putting the upfront payment on the house, only their name should be on the deed. They still expect you to split the mortgage 50/50. What should you do?

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Property laws in the U.S.

Your rights as part of an unmarried couple will vary depending on which state in the country you call home. While many states recognize common law marriage, the rules around property in these unions vary.

For example, in states that recognize common law marriages to some extent, the fact that you have cohabited for several years and demonstrated the capacity and intent to marry by getting engaged would make you common law spouses. This would give you the right to make a legal claim on the property in the event of a break-up, or the death of your fiancé. You would also have the right to file for divorce.

Even if you live in a state like California that does not recognize common law unions, the fact that you share a child, equally contribute to living expenses, and are engaged would give you a strong legal case to make a claim on the home even if your name was not on the deed. However, you should know that suing your former spouse could be a lengthy and expensive process in court.

For most couples that share children and have been cohabiting for years, marriage is still the best way to protect each partner’s legal rights in the event of the relationship ending, and also in the event of the death of either party.

If you are considering buying a house together or significantly contributing to mortgage payments and other living expenses, it’s a bad sign if your partner is looking for ways to block your claim to ownership of the property, especially if it is your primary or only residence. In the scenario outlined above, this is a major indicator that your partner is not financially trustworthy.

Also, while the childcare you’ve provided isn’t paid work in the traditional sense, it does hold value, and this should be acknowledged in the partnership. While you hypothetically could have gone back to work to earn a traditional paycheck, you then might have had to find paid childcare.

Advice for new couples

For couples who intend to cohabitate or have not established a common law marriage but will be sharing the cost of a mortgage, it’s essential that both names appear on the deed to the home. If this is not possible, you can opt to sign a cohabitation agreement that outlines the division of your property if you choose to part.

Before you enter into any major purchases with your partner, be clear on your rights. As an unmarried person, your partner’s finances and property remain theirs, even if they buy a home while you’re together, and you contribute significantly to the cost. And if you have any doubts about your partner’s intentions or the financial repercussions for you if the relationship ends, don’t contribute to the mortgage or down payment.

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 abuse

A partner who is trying to block you from exercising your legitimate claim to the home you share or plan to share may be showing early signs of abusive tendencies. Financial abuse is a control tactic where an abuser will intentionally manipulate or control a victim’s access to money, their financial autonomy, withhold financial information that affects the victim, or block them from accessing any financial advice, products or property that would give them freedom to leave the relationship. The National Network to End Domestic Violence says that financial abuse happens in 99% of domestic abuse cases.

In the case of the couple who has cohabited for several years and share a child, one partner attempting to block the other from property rights that would normally be theirs in a marriage is definitely a flag. Regardless of the reasons, unmarried couples are best advised to have clear legal agreements about major joint property, and to maintain separate bank accounts so that neither partner will be left without an emergency fund if the relationship ends.

Financial self-care

Whether you’re married, common-law, or in a partnership, maintaining a separate emergency fund is an important step to safeguard yourself, especially if you’re a woman. Studies show that the gender pay gap persists, with white women earning 83% of what men earned in 2022, and the gap increasing for women of color. In the case of a stay-at-home mom, leaving the workforce to be a caregiver is a significant financial pitfall, costing women $150,000 in wages on average.

Contributing three to six months of expenses to an emergency fund can help get you on your feet quickly if you need to leave your relationship for any reason. You can open a high yield savings account separate from any joint accounts you hold with your partner, and set a budget for monthly contributions.

In the case of our example couple, it may be advisable to seek financial counselling to help outline their money goals in the relationship and future marriage. A couples therapist may also help to unravel the miscommunication and mismatched expectations for their future — financial or otherwise.

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• 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.

Mississippi business owner Jim Dutton is feeling burned by Tren Solar, a Louisiana-based company that installed solar panels on his property, and Mosaic Solar, an affiliated company that loaned him $99,000 for the job.

Now Dutton has 47 non-functional solar panels installed on top of his auto body shop, located on the same property as his home in Carriere, Mississippi. That’s because there are “multiple potential safety hazards” with the panels and wiring, according to David Blackledge of MIssissippi’s Cooperative Energy electrical company, who inspected his property.

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That hasn’t stopped Mosaic Solar from continuing to send Dutton the bills for the $99,000 loan.

Now Dutton is sharing his story with Fox 8, warning others about his experience with the two companies.

Solar panel company seemed legitimate

Dutton first learned of Tren Solar when they called him “out of the blue.” He was interested in the potential savings of producing solar energy on his own property and powering both his home and his auto body shop, where he restores vintage cars.

He did some online research that led him to believe that Tren Solar was trustworthy.

“It looked like a legit business. And one of their partners, I guess they call it on the website — Panasonic — and they rated them in 2023 the best installer in the region,” Dutton recalled.

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

He moved forward with the job and signed a loan with Mosaic.

“They installed the panels within three days,” Dutton said. “I was like, ‘Wow, this is cool. They weren’t kidding, four to eight weeks.’ Then, it was radio silence.”

After three months of Dutton’s constant calls to Tren Solar, an electrician finally showed up to wire the system to supply power to the auto body shop and home — without an approved plan from Cooperative Energy to do so.

“These two jobs should not have been installed by Tren Solar, because they didn’t make it past the initial utility review stage,” the utility company’s Blackledge told Fox 8. “The installation method used has created multiple potential safety hazards.”

Blackledge added that Tren Solar waited till after the panels were installed to reach out to Cooperative Energy for permission to do the installation. When Blackledge reached out to Tren Solar to follow up, he was never able to reach anyone.

The disappearance of Tren Solar

Fox 8 visited the Tren Solar business address, but were told Tren Solar had closed its office months before. The company’s co-founders did not return emails or calls.

Fox 8 has since discovered multiple complaints about Tren Solar and Mosaic lodged with the Better Business Bureau.

“All of the complaints have been (regarding) the lack of customer service communication that’s been happening,” said Michael Drummond, president of the Better Business Bureau (BBB) of Greater New Orleans.

“We’ve reached out many times through our processes. We’ve been unable to get them to respond.”

Now, Attorneys General in multiple states are suing Mosaic for deceptive trade practices.

“A government action or a government warning is definitely a red flag,” Drummond said.

How to protect yourself from shady businesses

If you’re considering a major installation on your property, like solar panels:

• Research regulations to familiarize yourself with building, fire and electrical codes and other rules designed to protect you and your home. That includes making sure you are lined up for inspections throughout the process.
• Don’t hire the first contractor you find — especially if they reach out to you through a cold call or similar type of outreach marketing. Shop around.
• Do your due diligence on the principal contractor you choose and their affiliates. Check with the Better Business Bureau, study online reviews and testimonials and don’t be afraid to ask for testimonials from your neighbors. If your contractor is legitimate, they’ll be happy to provide contacts.

If you have concerns about the installation, make sure you record all communications with the company, including times of calls, any emails or texts you received, and all bills or invoices.

If you believe you’ve been the victim of deceptive business practices, report the business to the Better Business Bureau or your State Attorney General’s Office. You can also file an online complaint with the Federal Trade Commission or reach out to a local Consumer Protection Office.

If you’re attempting to recover money you spent on such an installation, you can try to send a notice of dispute to your credit card company to stop payment to the company.

You can also try to get your insurance company working on your behalf. Some insurance policies can help cover losses or damage from faulty installations. Check with your provider for more information.

Finally, you can take the company to small claims court or — if you’re dealing with a significant sum — hire a lawyer.

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• 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.

Insurance companies are cautiously optimistic about the Trump administration’s policies for their industry: insurers saw their stocks soar in early April when the federal government announced a record 5.06% benchmark increase to Medicare Advantage plans.

That is more than double the rate (2.23%) proposed by the Biden administration in January 2025, which was seen as a budget cut by the insurance industry. The Trump administration increase will amount to $25 billion for insurers like Humana and UnitedHealthcare, which participate in the revitalized Medicare Advantage program.

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Advocates highlighted that program costs have seen margins fall sharply in the insurance sector. Enrolled older adults have used more care than anticipated since the pandemic, and many insurers have already cut benefits, exiting some markets to remain profitable. The increased funding is expected to make health insurance companies a haven on the stock market during an unpredictable and volatile time.

Lo and behold, both Humana and UnitedHealthcare’s first quarter earnings caused the companies’ stocks to drop precipitously on April 16.

Adding to the pinch, the Trump administration also enacted changes that will make it harder for insurers to inflate their profits. These changes are expected to dull the shine of the increased funding and may make companies even more reluctant to pass on savings to customers.

Criticism of the plan

The Medicare Advantage program has not been without its critics since its inception in the Balanced Budget Act of 1997.

The program uses taxpayer dollars to pay private insurers for coverage for older adults and those with disabilities. Medicare Advantage was introduced by Republican Representative John Kasich in the omnibus, and the Democrats have been critical of using public funds to pay private companies through the program.

How much the federal government spends on Medicare Advantage influences its monthly premiums and plan benefits. There is no baseline of coverage across the different private insurers who participate in the program.

Pundits have said the Biden administration was skeptical of the program, and the low rate of increase proposed for 2026 by Biden was seen as a cut to funding, given the rate of inflation.

Despite stricter rules enacted by the Trump administration on billing practices, the Department of Justice has launched a civil fraud investigation into UnitedHealthcare’s practices. Critics have looked askance at Trump for continuing to pour taxpayer money into an industry mired in legal woes.

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

Trump’s policies and their impact on older adults

There is little evidence, however, that Trump’s policies will be a big win for the average American. While a boost in funding might mean savings will be passed on to clients, it seems more likely that the cash injection will be used to rally the insurers’ market performance.

“Though required by law, this excessive increase in payments to Big Insurance — when evidence demonstrates they are already being overpaid — demonstrates the crucial need for Congress to fix the way payment rates for MA insurers are calculated,” pundit Rachel Madley wrote on her Substack Health Care Un-covered. “Sadly, analysts expect the extra payments Big Insurance will get in 2026 will go to increasing profit margins, not increasing benefits or availability of care.”

With Medicare Advantage enrollment already on the rise, other analysts predict that, following this announcement, even more Medicare-eligible seniors may elect to join the program in 2025 and 2026. Only time will tell if the $25 billion is used to improve profits or to increase benefits for a growing number of seniors.

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• 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.

For many remote workers, the flexibility offered by working at home can’t be beat.

In a McKinsey survey from 2022, 21% of remote workers reported that getting a remote role was their primary motivation for seeking a new job. Furthermore, according to an independent survey of more than 12,000 respondents who work remotely, the ability to work from anywhere has increased their happiness by as much as 20%.

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So what if you’re currently on the job hunt, and have received a nice offer, but now find out it will mean you need to work from the office for at least three days a week? Is it worth it to trade in your sweats for a rush-hour commute? We’ll break down the added costs of office-based work, plus the benefits that you might enjoy.

The scenario

Say you’re currently making $140K with a 10% performance bonus. Your new offer has a base salary of $170K with a 15% bonus. However, you’ll be leaving a fully-remote role for a mandatory hybrid working arrangement, with three days a week in-office.

The extra salary could help you afford a down payment on your own home, which is your major financial goal.

So what would the extra salary look like on your monthly paycheck? If you live in California, for example, your total income after taxes would be $114,921, not including deductions for health insurance or any contributions to retirement accounts. In contrast, your current take-home pay at your $140,000 salary is $97,119. So the difference is $17,802, or $1,483.50 per month. When you consider your health care and retirement savings costs, you can target about $1,000 extra per month in income — which isn’t bad, but might not be enough to get you meaningfully closer to your goal of homeownership.

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

Additional costs for your new role

If you choose to transition back to working in-office, you’ll have to consider your transportation costs. As a remote worker, you may not have a car, or you may not use your car very often. With potentially long commutes ahead of you, you’ll need a reliable vehicle, a healthy gas budget, and some savings set aside in case of accidents or repairs. You may also need to consider whether your current auto insurance will be sufficient for your needs. If you work in the city, parking might also become a monthly expense you’ll need to factor in.

Many office workers prefer the convenience of having their lunches or even dinners at restaurants. Even if you brown bag it two out of the three days you’re in the office, your food budget can balloon when you’re surrounded by options for meals on the go. It’s also true that you’ll feel more tempted to treat yourself to social drinks or dinners with colleagues after work, or other activities that can take a bite out of your entertainment budget each month.

But there’s something to be said for the value of that informal off-the-clock socializing, especially if you’re hoping to climb the ranks at your new workplace.

You just need to be prepared for these added costs because the temptation for lifestyle creep could be a real concern. When you feel like you’re earning more, regardless of what the numbers in your bank account say, you may be tempted to splurge on luxuries like extra vacations, a new car or even more frequent discretionary purchases like clothes shopping and dining out. These costs could quickly eat up your extra $1,000 per month, and even leave you with less money for saving than you had before.

The bottom line

While it may sound as if we’re advising you against taking a new role, the truth is that it’s almost always a good idea. Your role is likely to be additional good experience you can add to your resume and help you in the future in your career.

If you’re feeling underutilized in your current role, or you’re not growing, a new role can break you out of your rut, and also make you more competitive in the job market. In today’s layoff-heavy climate, staying relevant with new skills and better titles is a must.

You can also look at the role as an experiment — if you find that the commuting and lifestyle changes aren’t worth it after six months to a year in the role, you can hit the job market again and find something that suits you better, hopefully this time with even more skills to aid you in your search.

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.

Road construction is always disruptive. But for Houston businessman Kent Edwards, years-long roadwork has cost him so much that he’s suing the Texas Department of Transportation (TxDOT).

“This is a long-term saga going back to 2015 for me,” Edwards told Moneywise.

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Edwards has run Motorcars Limited, his restoration shop for luxury and classic cars, on Hempstead Road since the mid ’80s. As he shared with KHOU, it used to be full of cars. Now it’s nearly empty. It’s hard for customers to drive in.

That’s because for 10 years, Hempstead Road has been under construction with repeated roadwork delays and no end date in sight. Edwards has not only lost customers but had to sell a commercial property across the street when all his tenants moved out due to the disruption.

As for his auto body shop, “I can’t sell it. I can’t rent it. I can’t do anything with it.”

Now he’s filed an “inverse condemnation” lawsuit against TxDOT seeking compensation for lost profits and business damages.

Meanwhile, the road construction is also costing the state a lot of money. TxDOT has to pay for ongoing delays with tax dollars. What is TxDOT doing to recover the cost of delays?

State charges, then refunds, road contractors for cost of delays

KHOU reported that when a roadwork project is past due, the state is within its right to charge the contractor damages. In the case of the roadwork outside Edwards’ business, those damages amount to $1.7 million.

But as the news outlet discovered, as soon as TxDOT charges contractors for these damages, it regularly reverses course and waives the costs, crediting money back to the same contractors.

In the past three years, TxDOT charged roadwork contractors $88 million in damages, but credited them back $39 million. In some cases, the credits were almost equal to the damages, essentially negating the cost to contractors.

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

“There ought to be consequences,” said Adrian Shelley of the government watchdog group Public Citizen. “If there’s no consequences for delays, they’re going to keep happening, right? It’s that simple."

TxDOT Executive Director Marc Williams told KHOU that contractors are not being let off the hook, but that contractors dispute the damages, claiming legitimate reasons for delays, like bad weather.

“We work very hard to hold those contractors accountable,” he said. “We want the projects … to be done right, to be done on time, but we also are fair.”

What can small business owners do?

But Edwards doesn’t think TxDOT is being fair to business owners.

“I don’t think it’s acceptable at all,” he said.

In other parts of Texas, city councils offer financial assistance to business owners affected by construction.

San Antonio City Council has earmarked $1.4 million for businesses in construction zones to help them with advertising and operating costs — during and after construction.

For small businesses across the U.S., the Small Business Anti-Displacement Network offers tools and resources to help owners stay afloat, including advice on filing for tax credits and incentives and information on commercial tenant protections.

Small business owners can also reach out to their local community organizations and business development councils for support and to organize cross-promotional activities to keep the community aware that the business is open while construction continues.

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On May 9, President Donald Trump signed his 150th executive order of 2025, directing Veterans Affairs (VA) to create a center for homeless veterans in Los Angeles on the VA’s West L.A. campus.

This site has been subject to legal troubles recently. Last fall, a federal judge ruled the VA failed veterans in its fiduciary duty to provide them with housing. The judge ordered additional housing and invalidated leases of portions of the land given to civilian entities, including UCLA and a private school. The decision has been appealed.

The executive order instructs VA chief Doug Collins to prepare a plan within 120 days to house 6,000 homeless veterans on the campus by 2028, and take action to “restore accountability” at the department.

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Trump also ordered that “funds that may have been spent on housing or other services for illegal aliens are redirected to construct, establish and maintain” the new facility, which will be called the National Center for Warrior Independence.

It has not been made clear which programs for housing and undocumented immigrants will be required to give up their funding, or how these funds will be reallocated to the project.

Veteran services in LA

The White House acknowledged that L.A. is the city with the largest share of unhoused veterans nationwide.

“Los Angeles has approximately 3,000 homeless veterans — more than any other city in the country and accounting for about 10% of all homeless veterans in America," The White House said in a statement released May 9.

The existing Veterans Affairs Supportive Housing program (HUD-VASH) seems to be ineffective in helping veterans secure stable housing. In 2024, the VA Greater Los Angeles Healthcare System reported that while there were 8,453 HUD-VASH housing vouchers available for housing veterans in the greater Los Angeles area, only 62% were in use. A report in the Los Angeles Times attributed this middling figure to delays in processing and resistance from landlords to accept them.

Reaction from veterans

A number of veterans viewed Trump’s executive order as a positive sign.

The Veterans Collective, which has a contract with the VA to construct approximately 1,200 housing units on the campus, issued a statement saying it “enthusiastically applauds President Trump’s plan for a national center for homeless veterans,” according to the Los Angeles Times.

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Others, however, took a cautiously optimistic approach.

“The President’s Executive Order is a right thing but not yet the right thing,” Anthony Allman of Vets Advocacy told the news publication. "We look forward to working with the administration to make the right things — housing, community, workforce development — available to veterans.”

Trump’s cuts to the VA

The executive order comes in the midst of substantial cuts to staffing for Veterans Affairs. The White House statement on the executive order notes that the president signed legislation to “remove thousands of VA workers who failed to give our vets the care they so richly deserve.”

The Trump administration aims to cut the VA’s workforce by 15% under DOGE, according to NPR. Approximately 470,000 people are employed by the VA, the vast majority of them medical professionals. The broadcaster reported on May 10 that 11,273 VA employees across the country had applied for a deferred resignation. About 1,300 of these applications were from nurses, 800 from medical support assistants and 300 from social workers.

The Iraq and Afghanistan Veterans of America organization conducted a poll in which more than 80% of veterans said they are concerned about the recent federal cuts and their impact on veteran benefits and health care.

"A lot of veterans are calling us, and they’re worried because they’re afraid that this is going to affect their health care, this is going to affect the benefits," Dan Clare of Disabled American Veterans told NPR.

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

Dale Prax, owner Freight Validate, a company that monitors the trucking industry for fraud and identity theft, is sounding the alarm on a rising number of companies registered to false addresses.

A recent investigation by Dallas news station WFAA into the practice of registering trucking companies to virtual addresses and P.O. boxes found that hundreds of companies across the country were using addresses other than their real headquarters as the location of their business when registering with the Federal Motor Carrier Safety Administration (FMCSA).

Prax says the practice is illegal.

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When a company registers with the FMCSA, the address it gives must be a physical location. Inspectors from the administration must be able to inspect the location, and be able to review safety and driver records there. The WFAA investigation found that in many cases, no one from the registered businesses were on-site at their listed addresses.

These companies allegedly operating outside the law may seem shady, but you may be wondering what it has to do with you. The truth is that while not all companies that use a virtual address are fraudulent, Prax and other experts say that it’s a red flag as many bad actors access the system in this way.

As WFAA reports, federal data shows that “fraudulent carriers have crash rates 80% higher than those who follow the rules.”

“When you’re driving down the road with your kids in your car, and there’s some guy next to you that maybe got his authority illegally … are you really safe next to that guy?” Prax told WFAA.

Why trucking businesses dodge FMCSA rules

Prax told WFAA that these carriers often use virtual addresses or P.O. boxes to avoid regulators’ scrutiny.

He detailed his company’s investigation into one address in California that had nearly 700 trucking companies registered to that location. Prax said there’s a sign out front that says, “No Trucks Allowed.”

Federal records also show that about 500 of the companies listed at this address use the same phone number and email. When WFAA reporters phoned, they found the number always went to a voicemail system that asked for a code, and they were unable to leave a message at all. Prax said that he flagged this to federal regulators two years ago, but nothing appears to have happened since then.

The FMCSA said in a statement to the news station that it was “familiar with complaints related to the Signal Hill … address.”

“If we all know about it, and we reported it, why is something not being done?” Prax said.

“The Agency has confirmed that the address is a legitimate business address for a motor carrier consultant who represents many small motor carriers based in California,” the FMCSA statement said.

However, this is in contradiction to their own rules: “A motor carrier may not designate the office of a consultant … as the motor carrier’s principal place of business if the motor carrier is not engaged in operations related to the transportation of persons or property at that location.”

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The scope of the problem

Prax told WFFA that in 2023, he caught a massive surge in carriers registering with either a virtual address or P.O. box.

“We built the robot to kind of find those, and we would notify FMCSA that says, ‘hey, this guy should not be issued his authority,’” he said.

Prax found as many as 200 registrants per month with these types of illegal addresses, and reported them to the FMCSA. Prax said the agency did flag those applications and issue warning letters, but he feels it wasn’t enough.

The issue is certainly on the minds of the leadership within the FMCSA, however. WFFA reports that on an industry podcast last year, Director of FMCSA Registration Ken Riddle said, “How do we prevent bad actors from getting into the system? … How do we prevent them from falsifying registration?”

The current solution is facial recognition technology, designed to verify new applicants to the FMCSA. However, it’s only a requirement for new applicants right now.

“From a registration perspective, we want to be able to verify the identity of the individual registering,” Riddle said.

Prax says it’s not enough.

“We don’t need to know who’s behind the webcam. We need to know who’s behind the operation of that company.”

A growing industry

Prax’s regulatory concerns may just be the tip of the iceberg for an industry that requires federal oversight. The FMCSA is responsible for a number of safety and licensing programs for commercial drivers. These include a program to record all drug and alcohol violations by drivers, so that new employers can screen potential employees.

They also offer hazardous materials regulation training to ensure the safe transport of dangerous products, and have established national standards for testing, licensing and disqualifying commercial drivers who fail to meet the required training and licensing protocols.

Companies unwilling to comply with business practices like registering a proper address with the FMCSA may also be lax about maintaining standards and education for drivers.

With the FMCSA reporting a 43% projected increase in truck freight in the country between 2012 and 2040, on top of the existing 5 million commercial drivers already registered, strict protocols for the industry helps to keep American roads safe.

The National Safety Council reports that in 2023, 5,375 large trucks were involved in a fatal crash. This represents an 8.4% decrease from 2022 — but is part of a larger trend of increasing fatalities, with a 43% increase reported in the last 10 years.

If driver and safety records aren’t properly checked, the consequences may lead to worse outcomes for drivers and their families.

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Annette Anderson of York County Pennsylviania is accused of theft by deception and theft by unlawful taking after allegedly scamming the tenants of the 23 rental properties into giving her their rent payments each month.

News station 21 News reports that Anderson began assisting her elderly mother in 2024 by collecting rent payments for the 23 rental properties her mother managed. However, her mother was not the owner of the properties — she was simply overseeing them on behalf of a separate landlord.

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By October of that year, Anderson had allegedly stopped handing over the rent money to her mother, instead claiming she was keeping it safe at home. In April 2025, Anderson’s mother told the property owner that she hadn’t received payments in months. Officials said that the owner then attempted to contact Anderson directly several times before finally involving the police.

While the police were able to contact Anderson at the time, she has allegedly gone on the run.

Tenants outraged

Tenants of Anderson’s mother’s units reacted with shock when they learned of Anderson’s charges.

“Knowing a person like that took money from people like us, and, you know, us trusting her and sending out payments like that, yeah it’s upsetting, it’s very upsetting," said renter Annette Martinez, who is not related to Anderson.

The York City Police Department found that several tenants had not only paid rent to Anderson, but also their fees for sewage and trash. They also found that she had asked them to pay their rent by Venmo or CashApp in addition to the usual cashier’s check or cash.

The situation has many in the neighborhood worried, as some tenants say they’re now at risk of losing their homes. “People going in the street, a lot of people are going homeless because the rent is going too high,” said Gilberto Rivera in an interview with local news station 21 News.

The police told 21 News that Anderson said she was “ashamed” of her actions when they contacted her about the investigation. She said she was involved in gambling at a local casino.

According to the report, she assured police she would be able to pay the money by April 28, and was looking to get help for her gambling problem. However, she has been unreachable since that time, and police say her whereabouts are unknown.

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Tenants may still owe rent despite paying

It’s unclear right now how the building owner plans to deal with the theft. Martinez told 21 News that the owners of the properties Anderson’s mother managed have hired new personnel to collect rents, and have issued letters that state their intention to “work this out.”

In a similar case in Tennessee in 2023, tenants were told by their rental company that the theft of their rent payments wasn’t their fault, but they were still expected to pay the company again for the stolen amounts. With a record of all payments, tenants can report to the police and have a strong case to retain a lawyer to contest the demand for additional rent payments.

In the case of Anderson’s mother, she may be on the hook for the payments collected by her daughter, especially if the checks issued by tenants were not tampered with and are correctly made out to her.

How to protect yourself from rental scams

If you are a victim of this type of crime, you can contact your state’s rental board. Some states, like New York, have a Housing and Tenant Protection Unit (HTPU), which is a branch of the Manhattan District Attorney’s Office.

In cases like this, tenants are advised to ensure they have a paper trail for all rent paid. This allows the police to accurately assess how much was stolen, and also for the tenant to prove to the management company and building owner that they paid their rent in good faith.

Law firm Kimball, Tirey and St. John advises landlords and property managers on their blog to avoid the possibility of theft by upgrading to more modern and secure methods of collecting rents, including accepting online payments, or taking payments by machine at the office during business hours. Property owners can also demand that managers only accept payments by secure means in their contract agreements, and include other provisions on how rents are collected and paid to protect their interests in the buildings they own.

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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.