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Author: Rebecca Holland

  • ‘Not going to happen’: Kevin O’Leary fires back at Trump’s call for retailers to eat the cost of tariffs — and warns Americans will share the pain of Walmart’s price hikes

    Kevin O’Leary seems to have changed his tune on President Trump’s tariffs.

    In a recent interview with NewsNation’s The Hill, the Shark Tank star expressed his doubts on whether retailers would be willing to absorb the rising costs of imported goods thanks to Trump’s tariff war.

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    “We’re at the beginning of a negotiation,” O’Leary said, predicting that retailers would lobby the government to help reduce the impact of tariffs on their bottom lines.

    O’Leary previously advocated for a bully approach to tariffs on China. During an appearance on the Laura Coates Live podcast in April 2025, O’Leary had this to say. “Let’s just level the playing field. The [Chinese] government cheats, steals, robs, and does not play by any rules. I don’t think 125% is enough — 400%!”

    Less than two months later, O’Leary appears to be singing a different tune when it comes to tariffs, telling The Hill that he expects both customers and retailers to share the costs of Trump’s trade war.

    “There’s going to be some distribution of the pain between increased prices, and retailers will take some of the hit, but it really depends what the hit is,” said O’Leary. “We don’t know. Is it 10%? 20%? 25%? What is it? Nobody knows.”

    Trump, meanwhile, has different views on the matter.

    In a recent post shared on his Truth Social platform, the president wrote, “Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain. Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, ‘EAT THE TARIFFS,’ and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”

    But O’Leary, a Canadian citizen, has pushed back on this. “This idea that the president says, ‘Listen, retailers, eat the tariffs.’ That’s not going to happen,” said O’Leary.

    Walmart’s tariff announcement

    Some retail experts believe Walmart’s intention to raise prices in response to tariffs will set the tone for how the retail industry as a whole will respond to the trade war.

    As of 2023, Walmart accounted for 7.3% of overall consumer spending in the U.S., and nearly 19% of food and beverage spending. It remains to be seen if the retailer’s hold on a major portion of American wallets will slip as consumers look for lower prices elsewhere.

    In a separate interview with The Hill in May, a Walmart spokesperson said, “We have always worked to keep our prices as low as possible and we won’t stop. We’ll keep prices as low as we can for as long as we can given the reality of small retail margins.”

    Walmart CEO Doug McMillion also said the company isn’t “able to absorb all the pressure” from the tariffs during an earnings call in the same week.

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    What the experts say

    Today.com recently published a list of retailers that, along with Walmart, have announced or are expected to announce price increases in response to the higher costs of importing goods. These include popular big box chains like Target and Best Buy, plus a long list of automakers and tech giants like Apple and Samsung.

    Matt Pavich, senior director of strategy and innovation at Revionics, shared his thoughts during an interview with Retail Dive. “When Walmart makes pricing moves, the rest of retail follows, to some degree, on a lot of products.”

    However, retail economists note that getting pricing right at this moment when consumers are extremely careful with their spending is a tough needle to thread. “No retailer wants to be the one that’s called out on social media as gouging the consumer,” Ali Furman, Consumer Products Industry Leader at PricewaterhouseCoopers, shared with Retail Dive.

    Speaking to RetailCustomerExperience.com, Rob Garf — SVP of strategy and insights at Cordial — said, "With 70% of U.S. adults anticipating higher prices and 43% already experiencing increases, we’re seeing significant pressure on both retailers and consumers. The recent 28% year-over-year decline in consumer sentiment reflects growing spending shifts, particularly among the Boomer and Gen X demographics.”

    NielsenIQ’s recent "North America Tariff Sentiment Study" echoes Garf’s concerns. With nearly 10,000 Canadians and Americans surveyed in March 2025, 61% of U.S. consumers and 86% of Canadians reported they expect tariffs to “negatively affect their country’s economy this year,” according to RetailCustomerExperience.com

    Protecting your wallet against uncertainty

    If, like the majority of consumers, you’re worried about the costs of tariffs taking a bite out of your budget, there are a few things you can do to cut costs and find some more wiggle room in your wallet.

    First off, dedicate a little more time to planning your grocery shopping each week. Searching for good deals in the flyers, planning to buy locally and seasonally, and buying items with coupons can help you trim your food budget. Having a good meal plan can also save you from impulse purchases at the grocery store, or from spending your money on last-minute takeout and delivery when dinner time rolls around.

    You can also look for ways to trim your budget by carefully tracking your spending each month. When you see how much you spend on entertainment, subscription services and shopping trips, you may be inclined to trim these expenses and look for cheaper ways to enjoy your leisure time.

    Finally, take a look at your quarterly or yearly expenses like insurance, travel and even veterinary bills. Try shopping around for better deals on your home or auto insurance, and look to spend your holidays closer to home this year, or opt for a last-minute deal to a popular destination.

    Finding creative ways to save can make budgeting less painful and keep the uncertainty of rising prices from cramping your lifestyle.

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

  • Americans over the age of 55 are the country’s fastest-growing workforce — here’s why so many are now kicking retirement down the road

    Americans over the age of 55 are the country’s fastest-growing workforce — here’s why so many are now kicking retirement down the road

    Joan Madden-Ceballos didn’t make headlines for volunteering or falling victim to a crime. Instead, she caught the attention of Boston 25 News for something that says a lot about about America today: at 70, she’s still on the job.

    Madden-Ceballos is among the growing number of Americans 65 and older who are staying in the workforce into their golden years.

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    Working past the traditional retirement age of 65 isn’t new — especially as life expectancy increases — but the number of Americans remaining on the job continues to rise, largely due to economic hardship.

    The Bureau of Labor Statistics reports that between 2003 and 2023, the number of people over 55 still in the workforce increased by nearly 74%. Today, more than 1 in 5 workers are 55 or older. For those 75 and older, the number has grown by a record 113%.

    Why older adults keep working

    People have a variety of reasons for working beyond retirement age, but some clear trends have emerged.

    One of the more positive reasons is that Americans are living longer — and healthier — than previous generations. According to the Centers for Disease Control and Prevention (CDC), the average life expectancy for a 65-year-old has increased by just over a year since 2000, now nearing 84.

    Financial expert Suze Orman has even cautioned retirees-to-be to plan for living into their 90s. That means a retirement fund at 65 might need to last nearly a third of a person’s lifetime — a long time to go without income.

    For many, work also provides purpose and mental stimulation. The 2024 University of Michigan National Poll on Healthy Aging found that nearly half of older adults said their work “gave them a sense of purpose and kept their brains sharp”. Nine in 10 said it helped their overall well-being.

    Nicole Maestas, a professor at Harvard Medical School, points to another factor: today’s information economy. Jobs are less physically demanding than they were for previous generations, making it easier for older adults to stay employed.

    Still, it comes down to money for most people.

    That same University of Michigan poll found that nearly 78% of older workers said financial stability was the main reason they continued working. Others said they wanted to boost their savings or maintain access to health insurance.

    A 2024 AARP survey found that about 66% of adults over 50 don’t feel they’ve saved enough to retire securely. According to a 2023 Gallup poll, only 2 in 5 workers are on track to retire comfortably.

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    The financial landscape has shifted

    One of the biggest changes facing today’s retirees compared t their parents’ generation: pensions are increasingly rare.

    As of 2020, more than 85 million Americans were enrolled in defined contribution plans like 401(k)s. By contrast, only 12 million were in traditional definition benefit pension programs. That makes it harder to replace working income after retirement.

    Researchers from the Georgetown Center for Retirement Initiatives found that today’s retirees are spending their savings faster than previous generations. The culprits? Rising costs of living, high health care expenses and increased longevity.

    Inflation is also a major factor. Consumer Affairs reports that the consumer price index jumped 586% between 1973 and 2023. Combined with wage stagnation, and saving for retirement becomes even more difficult

    In 2024, the Government Accountability Office reported that a third of households with a worker 55 or older had no employer-sponsored retirement plan at all. Half of all households had no retirement savings whatsoever.

    Trouble ahead for Social security

    Another looming concern is Social Security. It is projected to deplete its trust fund by 2034, at which point it would only be able to pay about 77% of scheduled benefits through incoming payroll taxes.

    “Far too many people are one crisis away from economic insecurity," said Ramsey Alwin, president and chief executive of the National Council on Aging. A 2022 University of Massachusetts study supports that view, showing that half of single older adults and one in five couples struggle to meet their basic needs.

    The Pension Research Council at Wharton has suggested reforms to help both current and future retirees. A key issue is access: almost 57 million Americans don’t have a workplace retirement savings plan. Workers of color and lower-income workers are disproportionately affected — over-represented in this group, with 53% of Blacks and 64% of Hispanics without access, compared to 42% of White workers. For low-income workers, those numbers jump to between 64 and 79%.

    Wharton researchers recommend expanding access to retirement plans, as well as improved portability of 401(k) and IRA plans, to encourage people to keep saving as they change careers. They also recommend government programs to match contributions for low-income workers, allowing for more equal access to retirement, letting America’s golden years be ones of leisure and not full-time work.

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

  • ‘An absolute bloodbath’: Dave Ramsey told his viewers never to buy a home on more than a 15-year mortgage — and he was roasted on social media for it. But does Ramsey have a point?

    Dave Ramsey has upset his fanbase with financial advice that many are calling out of touch in the current economic climate.

    Last month, we covered Ramsey’s latest advice on mortgages, where he advised listeners on his popular show to never take out a mortgage of more than 15 years, as this will cost you thousands of dollars more in the long run.

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    However, users on X — as well as readers of a right-wing website called Not The Bee — are doing the math and showing just how difficult it is to get in on the housing market at all, let alone to be able to afford a home with a shorter mortgage term.

    The @FinancialPhysics X account posted a breakdown of how much homebuyers in the U.S. would have to make per year after taxes to afford the average home price in America — a whopping $190,000.

    The video further calculated the cost of a house in Mississippi, where the average home prices are the lowest in the country at $180,000, according to the figures in the video. Assuming you spend no more than a quarter of your take home pay on your mortgage, you’d still need to earn $95,000 per year to afford a 15-year mortgage in Mississippi.

    The caustic comments posted on X and elsewhere about Ramsey’s advice were described as “an absolute bloodbath.” Below, we’ll take a closer look at the financial realities of buying a home in America today, and how you can make the math work for you.

    Doing the math on American mortgages

    Checking up on the figures in the video, the math on mortgages more or less works out. According to Zillow, the current average home price in the U.S. is $367,711. Assuming a mortgage rate of 7.04% — the current national average — and a standard 20% down payment, your monthly mortgage payment would be $2,651 on a 15-year loan, according to Bankrate’s mortgage calculator. A down payment that’s smaller than 20%, or $73,542, would net out to monthly payments around $3000 per month.

    In terms of income, the figures for what makes a high-income individual vary widely by state, but across the board, an income of $335,891 per year puts you in the top 5% in this country. The @FinancialPhysics video also correctly reports the real median household income in the U.S. — $80,610 as of 2023, according to the Federal Reserve Bank of St. Louis — which is well below the income levels for 15-year mortgages that we detailed above.

    In terms of the cheapest states to buy a house, West Virginia tops the list from Rocket Homes, with a median selling price of $208,968 in 2024.

    So while the video from @FinancialPhysics may not be perfectly accurate, it paints a fairly clear picture of the state of home buying in the U.S. today — a place where old-fashioned advice on finances may no longer be relevant.

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    Ramsey’s take on mortgages

    Ramsey warns his followers who want to get ahead with their finances that opting for a 30-year mortgage can see you flushing money down the drain. The longer your mortgage term, the more you pay in interest, which means it takes longer to pay down the principal of your loan.

    While Ramsey’s advice is perfectly sensible — a shorter loan means less spent in interest — it’s just not practical for many potential homebuyers who are already struggling with inflation and depressed wages.

    With the median price of a home having increased 220% in the last thirty years — from $130,000 in 1995 to $416,900 today — it’s no surprise that Ramsey fans feel gaslit by his advice and are making jokes about his baby boomer mentality.

    The social media uproar

    With @FinancialPhysics captioning their video with the phrase “Boomerism linked to dementia” — and others on X leaving comments ranging from “Yeah, I’ve just accepted I’m never owning a home” to “I was happier in my blissful ignorance” — commenters had plenty to say about the realities of affording a mortgage in the U.S. today.

    The person behind the @FinancialPhysics account further stoked the flames with comments that the new reality of homeownership has been destructive to birth rates and overall quality of life, and that many of America’s most affordable homes have been bought up by investors specifically to “destroy American birth rates.”

    However, some commenters came out in support of Ramsey, pointing out that first-time homebuyers are probably not aiming for the median-value homes in the market.

    “I feel that this data is being misrepresented by using average house prices rather than median house prices,” said one. “Came here to point this out and add that a typical first-time home buyer should not be buying a house that is anywhere near the average or median price,” said another.

    The verdict on 15-year mortgages

    According to Investopedia, a 15-year mortgage is a major advantage to those who can afford it, as it lowers the overall cost of the loan. But buyers who cannot comfortably afford the higher monthly payments risk defaulting on their loan.

    While the total interest you’d pay for a 15-year mortgage will likely be half of what you’d pay for a 30-year mortgage — since you’re borrowing the money for half as long — it’s critical to have a 360 degree view of the true cost of a 15-year mortgage. Not only do you have a higher monthly bill, but you should also consider your insurance, maintenance fund and any additional loan or homeownership fees as part of the true cost of your mortgage.

    However, a 15-year mortgage has the benefit of lower fees for the loan. Government sponsored lenders such as Fannie Mae often charge loan-level price adjustments, and according to Investopedia, these fees often apply only to 30-year mortgages. It’s also worth noting that these fees are usually for those with lower credit scores, or those who make a small down payment.

    Finally, future homeowners considering a 15-year mortgage should consider their potential earning capacity in the future. While you can save substantially with a shorter loan term, the higher monthly payment may prevent borrowers from building up savings for retirement or putting money away for a child’s college tuition.

    When considering the true cost of your mortgage, you should also calculate the potential value of investments in your 401(k), which are compounded by your employer contribution. You can also consider how much any potential investments in stocks and bonds would appreciate over the 15-year term.

    No matter how you choose to finance your home purchase, it can be well worth your time to speak to a financial advisor who can help you map out these future scenarios and make the most informed decision possible about your mortgage.

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

  • ‘We are tired of sucking’: Legendary Chicago restaurant abruptly closes after 63 years, blaming ‘insurmountable’ struggle to retain quality staff

    ‘We are tired of sucking’: Legendary Chicago restaurant abruptly closes after 63 years, blaming ‘insurmountable’ struggle to retain quality staff

    Gale Street Inn has been a Chicago hot spot since 1963, but it abruptly closed down in June after more than 60 years in business — and the owner cites staffing problems.

    According to an NBC5 Chicago report, the establishment’s owner, George Karzas, stated in an Instagram announcement that "the challenges of hiring and maintaining quality personnel have been insurmountable for an extended period. We’re fatigued with providing subpar service… but we recognize that overextending our current team is not a viable solution. The demand from customers simply outweighs our staffing capacity."

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    Despite the gracious nature of Karzas’s announcement, noting his "sad but satisfied heart," the shuttering of this established eatery highlights the challenges inherent in the restaurant business — an industry known for its razor-thin profit margins and high employee turnover rates.

    Here’s a look into the issue of employee retention and what small business owners can do to retain quality employees in an increasingly tough economy.

    Employee turnover

    Employee turnover is when an employee leaves their role for another job opportunity, retires, or is let go. It not only impacts the business owner, but also the other workers who will have to make up for the loss of the employee by taking on extra work, if only temporarily. Turnover can also have a significant impact on morale, especially if the employee who left was with the organization for a long time and had a lot of knowledge that benefitted the team.

    In the restaurant industry, employee turnover is an issue that almost amounts to a crisis. Restaurant management software company 7Shifts reports that the average turnover rate for the restaurant industry is 79.6%. For fast food restaurants, it’s a staggering 123%. To put these figures in real terms, the average restaurant will have to replace about four out of five employees each year. In fast food and other quick service restaurants, 7Shifts says, “it’s like replacing 31 employees when your average workforce size for the year is 25.” They report that the average tenure in the restaurant industry is just 110 days.

    In the wider American workforce, the Bureau of Labor Statistics notes that the Great Resignation (an economic trend in which employees voluntarily resigned from their jobs en masse, beginning in early 2021 during the COVID-19 pandemic) saw employees leaving their jobs at a higher rate than ever before across the board, with a peak 3.5 million people quitting their jobs in February 2024.

    With workers in the restaurant industry leading this trend, 7Shifts points to the issue being not just the low pay or irregular hours in this field, but poor hiring practices on the part of restaurant owners. They wrote, “when you hire someone who doesn’t share your team’s values, no amount of training or tips will make them engaged in their work. When values match, employee satisfaction increases and turnover decreases.”

    Similarly, bad hires can lead to your other employees picking up the slack — both in customer service and with their other duties that keep the restaurant clean and functional. If employees feel overworked because they’re making up for a bad team member, it can impact their own morale.

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    The struggles of restaurant workers in America

    Restaurant staff who depend on gratuities are facing significant financial challenges in the current economic downturn. With the federal tipped minimum wage frozen at a mere $2.13 per hour, these workers rely heavily on customer tips to earn a living wage.

    But some suggest that ‘tip fatigue’ has set in across the country, with tip rates falling from their pandemic high. Restaurant employees who don’t make enough tips to earn minimum wage must be paid out the difference by the restaurant.

    While some states and cities are raising minimum wages for tipped employees, Toast reports that the average salary for a full time restaurant employee is just $31,000, and can be as low as $15,080 for 40 hours per week. This is just above the poverty line, which sat at $14,891 for a single person in 2023.

    How small businesses can retain their staff

    In an industry that’s fiercely competitive, the best restaurants are not only those with the most innovative menus or the trendiest decor, but those with the best employee cultures. 7Shifts recommends restaurants struggling with employee turnover perform a culture audit, gathering key stakeholders to discuss your values, and who on your team best exemplifies these values. Getting clarity on what’s working will help you improve your culture and make better hiring decisions in the future.

    They also recommend establishing clear lines of communication, and for restaurant owners and managers to make themselves available to their employees in-person for regular check-ins. This goes hand-in-hand with monitoring the workload of employees, both as a group and individually. Look at who is working hardest — they may be your most valuable employees, and also the ones at the highest risk for quitting.

    In the 7Shifts interview, Mike Bausch, owner of the Andolini’s restaurant group in Tulsa, reveals his remarkably low 35% annual turnover rate across six locations. Bausch credits this success to his philosophy of "scheduling with empathy," which prioritizes staff needs while managing operations.

    “I think it’s extremely undervalued how directly connected a schedule is to staff morale, attrition and retention,” says Bausch. He encourages all managers to work with employees to make their schedules work for their lives, and not the other way around.

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

  • NYC has up to 8,600 empty affordable housing units — while 240,000 New York families languish on a housing waitlist. Here’s why one city councilor says the ‘situation is appalling’

    New York City may be facing a critical shortage of affordable housing, but with nearly 6,000 affordable units currently vacant, city lawmakers are left scratching their heads.

    The New York City Housing Authority (NYCHA) is responsible for providing low-income residents with housing that they can comfortably afford. Since low-income residents can afford less than 1% of the city’s available apartments, according to Gothamist, affordable housing in NYC is a major concern.

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    The authority claims that so many units are vacant because significant repairs are usually needed once a tenant vacates a unit. NYCHA’s COO Eva Trimble shared with city council at a hearing in June that all of its units must be vacant for at least 30 days after a tenant has moved out, as these units often require work once they’re vacant.

    “On average, it takes four to six months to complete the lead and asbestos testing process, and abatement if necessary, during turnover,” said Trimble.

    However, council member Alexa Avilés has sponsored a bill that would require NYCHA to report annually on public housing units that have been left empty for more than 30 days. The city is hoping this bill will push NYCHA to complete their repairs and re-rent the vacant units quicker than it’s shown in the past.

    The impact on the community

    “The transfer situation is appalling,” said Avilés, a representative for south Brooklyn. “It has taken our office well over a year to transfer people facing violence, and it is particularly appalling when you know that there are thousands of vacant units in NYCHA.”

    As Fox 5 New York reports, approximately 240,000 families are currently on the wait list for a NYCHA apartment. And while the public dashboard shows that nearly 6,000 units are empty, during the hearing in June, officials testified that the real number is more like 8,600. This number reportedly includes units being held for resident relocations, occupied units that are undergoing substantial repairs, or units being converted for community uses.

    While this number of vacant units may seem troubling, NYCHA vacancies have actually been going up since 2024. The city council stressed that the large number of people waiting for housing is putting a major strain on the city’s shelter system, which in turn creates safety risks.

    Mayor Eric Adams’ administration claims it’s on track to double the number of people moving from shelters into public housing this year, but the Coalition for the Homeless found that only 500 shelter residents were relocated into vacant NYCHA units in 2024. This represents a substantial decrease from the 1,500 shelter residents that were reportedly moved into NYCHA housing in 2021.

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    How NYCHA serves low-income families

    NYCHA reports that one in 17 New Yorkers use its services, and the program currently provides affordable housing for 528,105 residents. This includes both traditional public housing and the Section 8 program for low-income residents.

    In addition to maintaining 177,569 apartments across all five boroughs of the city, the authority also provides economic opportunity and social services programs for low-income New Yorkers. The New York city council claims that, for all of NYCHA’s good work, it took an average of 423 days to prepare apartments for new tenants in 2024. NYCHA data shows that the current average timeline is 350 days.

    How vacant housing affects the community

    These empty NYCHA units put more stress on an already tight housing market, where 1 in 3 New Yorkers are spending half their income on rent. As many of the city’s affordable units sit vacant, competition for housing at the lower end of the rental market remains fierce — and may result in residents living in unsafe or unsuitable housing conditions due to a lack of options.

    This situation is also projected to get worse, as the federal budget is reportedly preparing to cut more than $33 billion from the U.S. Housing and Urban Development program. The proposed budget will also target the Section 8 voucher program while also limitimg rental assistance.

    The Center for New York City Affairs reports that the federal government provides almost 70 percent of NYCHA’s funds, which may be cut substantially under the new budget.

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

  • Hundreds of homeowners in New Hampshire have had their property sold out from under them by scammers since 2019. Here’s how to protect yourself from quit claim fraud

    The FBI in Boston reports that between 2019 and 2023, New Hampshire homeowners were scammed out of more than $4 million in quit claim deed fraud.

    Quit claim deeds transfer an owner’s interest in a property to another party and releases the owner from any future claims of ownership over the property. Scammers can forge these deeds in order to sell the property, take out a mortgage, or rent it to unsuspecting tenants.

    Local ABC news station WMUR 9 in New Hampshire reported that 239 people were victims of deed fraud in between 2019 and 2023 and that homeowners must take steps to protect themselves — particularly if they own any vacant properties. Here’s what to know and how to ensure you’re not the victim of this kind of scam.

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    How the quit claim deed scam works

    The FBI reports that scams of this type tend to target vacant lands or homes, properties with liens, or vacation homes and properties owned by people living out of state.

    Here’s how it works: Scammers called ‘title pirates’ forge documents for the quit claim deed transfer without your knowledge. They then attempt to have the forged documents recorded with the county’s register of deeds. They also forge identification to take advantage of remote closings, so they never have to present themselves in person.

    The scammers look for properties using public records, searching for vacant parcels of land, or properties that don’t have a mortgage. They can impersonate the owner and contact an unsuspecting real estate agent to list the property. Many homeowners whose properties have been listed for sale don’t find out until after the sale has gone through.

    The FBI found that some victims are even elderly family members of the fraudster. These relatives are convinced to transfer the property into the name of the scammer without a clear understanding of their rights.

    While unoccupied properties are the most common targets, it’s possible for fraudsters to target your family home. If you are the victim of this type of scam, also known as home title theft, you may find yourself heading to court to prove that you’re the legitimate owner of the property.

    “Folks across the region are having their roots literally pulled out from under them and are being left with no place to call home. They’re suffering deeply personal losses that have inflicted a significant financial and emotional toll, including shock, anger and even embarrassment,” said Jodi Cohen, special agent in charge of the FBI Boston Division. “We are urging the public to heed this warning and to take proactive steps to avoid losing your property. Anyone who is a victim of this type of fraud should report it to us.”

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    How to avoid becoming a victim of title theft

    According to the FBI report, many victims of this kind of scam don’t know where to report it, or are too embarrassed to come forward. Some may not even realize they’ve been scammed.

    Nationwide, 58,141 victims reported $1.3 billion in losses relating to real estate fraud between 2019 and 2023. Massachusetts is a hotbed of real estate crime, with 1,576 victims losing $46,269,818 in that time period.

    One of the best ways to protect yourself is to ensure you have a Homeowner’s Policy of Title Insurance. Realtor.com reports that while traditional title insurance policies protect against fraud before a purchase happens, this newer protection covers theft after you own the property.

    They note that while insurance can’t prevent scammers from forging a deed in the first place, a comprehensive policy puts the onus on the insurance company to resolve the fake title claim in court.

    You can also pay for a service to monitor your title, or register with your county to be alerted if any documents are filed in your name. A growing number of counties are offering this service for free in response to the rising rate of fraud.

    Finally, the Attorney General’s Office also recommends that homeowners regularly visit their properties and ask neighbours to check in periodically on any vacant homes. You can also set up a Google alert for your address to see if it shows up on realtor websites and check social media regularly for the same reason.

    If you need to report deed fraud, you can call the Attorney General’s Consumer Protection Hotline at 1-888-468-4454.

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

  • At 45, I have enough money in the bank to retire comfortably — but I’m gripped with regret over how much more I could have saved. Does financial anxiety ever go away?

    As they often say, money doesn’t buy happiness, but what happens when your money doesn’t bring you any feeling of contentment, even when you’re financially comfortable?

    Take James, for example. James is 45 years old and describes himself as financially responsible. He has an emergency fund that would cover three months of his family’s expenses, $250K in his IRA and is on track to pay off his mortgage right before he hits retirement age. He and his wife also own their two cars outright and have no consumer debt.

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    Yet in spite of this sound financial footing, James constantly feels stressed about his family’s money decisions in the past. James earns a decent salary, but he often wonders if it was a mistake for his wife to become a stay-at-home mother during their children’s early years. He also knows he could have contributed more to his retirement savings, but financial pressures while his children were young kept him from saving as much as he would have liked.

    Is James’s situation unique?

    While James describes himself as “gripped with regret” over his past lifestyle choices, his worries are quite common. A study from Capital One, in partnership with The Decision Lab, found that 77% of Americans reported that their financial situation has them feeling anxious, while 68% worry about not having enough money to retire.

    James has his worries, but many of his fellow Americans find themselves on much more precarious financial footing. For example, only 46% of Americans have an emergency fund that can cover three months’ worth of expenses.

    Moreover, according to Ramsey Solutions, the average household carries $19,865 in credit card debt, and a further $36,832 in car loans. Meanwhile, only 65% of Americans own their homes, according to the Census Bureau’s quarterly report for Q1 2025.

    Still, James worries that it’s too late for his wife to find a decent job with a comfortable salary, and that he will struggle to provide for his family in the future.

    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

    How to manage financial anxiety

    If you feel like financial anxiety is taking control of your life, there are several steps you can take to feel more grounded and confident with your finances.

    Consult a financial advisor

    If you’re in good shape financially but still feel worried about money, it may be helpful to have a professional review of your financial progress. Consider speaking with a fiduciary financial advisor who can give you a professional, bias-free account of your retirement plan and financial goals.

    An advisor can help you feel more confident about your financial path by reviewing your budget, emergency fund and investment portfolio while also offering advice on how you can improve.

    Whether you need to improve your financial situation or you’re on track for a healthy retirement, an advisor can help you create manageable goals that can give you a feeling of control over your money and your future.

    Create a budget

    James could help to ease his worried mind by carefully creating a budget for his household. By focusing on everyday expenses and cutting costs wherever possible, James can free up some more cash that he can then invest in his family’s future.

    If you too are worried about your financial future, creating a budget and investing what you save is a great way to help assuage your money worries. Whenever the anxiety over your future finances crops up, you can feel a little bit better knowing that you’re budgeting well and investing your savings for your golden years.

    When creating a budget, the first step should be to take a good look at your current numbers. “You have to know what you’re working with before you can start working toward anything,” wrote Kara Perez in an article for Moneywise.

    For more help on creating a budget, check out Perez’s advice on how to make a budget that works.

    Create an emergency fund

    One very smart money move that James made was building an emergency fund that can cover three months’ worth of his family’s expenses.

    An emergency fund is a vital stash of money that can come in handy when unexpected expenditures arise, or when you lose your job and temporarily stop earning money. Life happens, and things like emergency car repairs or replacing a broken water heater can pop up at any time.

    The last thing anyone wants is an emergency expense that pushes them into debt or forces them to dip into their savings. Credit cards are great, but using them to get yourself out of an emergency can be costly, and it’s hard to save for your future when your money is tied up paying off debts.

    Start investing early

    It’s no secret that the sooner you start investing, the more well off you’re going to be when retirement comes around. For many Americans, retirement may seem decades away, but saving for it as early as possible can be incredibly beneficial for your retirement finances.

    The money that you invest benefits from compounding returns, which means your money grows over time — and the longer the period that your money sits in investments, the more growth you’ll see with your portfolio.

    If young Americans can start investing in their 20s, they’d be setting themselves up to take advantage of what’s likely the most valuable asset out there: time. Investing as early as possible is a great way to unlock the complete potential of compounding returns.

    Unfortunately, many Americans who struggle with financial anxiety could be plagued by these worries for quite some time. Even if you consider yourself well-off, factors such as inflation and economic uncertainty due to President Trump’s controversial trade policies could create cause for concern. And if you’re already anxious about your future finances, these factors could greatly exacerbate your worries.

    That’s why peace of mind is so important. If you follow the tips above, you can remind yourself that you’re doing everything you can to boost your future finances whenever your money worries pop up. And while that financial anxiety may never disappear, it can be greatly reduced just by knowing that you’re putting your best foot forward today for a better tomorrow.

    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.

  • ‘You’re imposing this on her’: Dave Ramsey gives Florida man a reality check — Ramsey says his struggles with his spendy wife aren’t really about money (plus what’s missing from their plan)

    ‘You’re imposing this on her’: Dave Ramsey gives Florida man a reality check — Ramsey says his struggles with his spendy wife aren’t really about money (plus what’s missing from their plan)

    It’s not uncommon for a marriage to experience financial issues, but sometimes the money problems are just the tip of the iceberg.

    Dave Ramsey recently explained this to a Florida man, Hayden, who called in to the financial guru’s show. Hayden and his wife are deeply in debt, with a US$19,300 balance on their credit cards and US$64,000 in car loans, including a US$37,000 loan for a new Tesla. The two have created a budget to navigate their financial woes, but Hayden’s wife feels the couple hasn’t budgeted for one important part of life: fun.

    Hayden shared that in spite of their lavish spending, the couple is struggling to afford things like attending baby showers and dining out with friends. Hayden’s wife, who is pregnant with their second child, has to clear her spending with him, asking for US$50 to use for thesee types of activities, which Hayden routinely denies.

    “My wife started to feel very controlled,” Hayden admitted.

    As Hayden continued to explain the situation, the conversation quickly shifted from “how do I get my wife on board?” to “how can we make budgeting decisions as a couple?” That’s when Ramsey’s advice veered away from discussing finances.

    ‘Ultimately, you two probably need marriage counselling’

    Ramsey and co-host Jade Warshaw were visibly shocked when Hayden outlined the couple’s debts, as well as the issues Hayden’s wife has with their budget. “You’re imposing this on her, and she’s not got any adult ownership in the sacrifice that needs to occur for you all to swim.”

    Since Hayden and his wife don’t appear to be on the same page with their financial goals, Ramsey suggested another remedy that might help the couple get to the bottom of their issues.

    “Ultimately, you two probably need marriage counselling,” said Ramsey. “She’s not involved in this at all, emotionally, and so you’ve become her parent and she doesn’t like it when you tell her ‘no.’ And you’re getting tired of being the parent.”

    Warshaw also pushed for the couple to attend counseling, noting that for most new parents, the arrival of a child tends to change their relationship with money. If Hayden’s wife still has a desire to spend recklessly, there is likely an underlying factor leading to this behavior.

    “My guess is there’s something behind this,” said Warshaw. “You go to counseling, you’re going to figure out what that is, because there is something stopping her from wanting to go all in on this.”

    While Ramsey was sympathetic to Hayden’s potential marital issues, he refused to let Hayden off the hook for the terrible financial decisions he and his wife have made. For example, buying a brand new Tesla when Hayden and his wife were already drowning in debt.

    “It’s asinine, and you knew it when you did it,” said Ramsey. “But you went along with it, trying to make someone happy by buying them stuff. And it doesn’t work.”

    Making money decisions as a couple

    Budgeting as a couple should be a joint activity that not only takes into account what’s possible today, but also what’s possible for the future — what retirement will look like, when you both plan to leave the workforce and how you will invest to live comfortably when you reach retirement age.

    According to an RBC poll, 77% of couples consider money a source of stress in their lives, and 62% say it causes them arguments.

    While money issues are a common theme in marital discord — and even a top predictor of divorce — according to a 2013 study — it is possible to get on the same page about financial goals, even if one partner is a saver and the other is a spender. On the Ramsey blog, Rachel Cruze discusses how couples can get aligned with their money goals.

    “When it comes to money fights in marriage, there’s often a surface issue and an underlying issue. And the only way to find the root cause of the argument is to stop and talk about it,” she wrote.

    Cruze also detailed that savers and spenders are equally valid in their decisions as long as they’re maintaining a reasonable approach to their budget. “Neither is right or wrong — they’re just different.”

    For Hayden and his wife, it’s important for them to discuss money as equals and understand each other’s perspective.

    Making money decisions as a couple

    When couples approach budgeting without alignment on goals and what they want the future to look like, one person often takes on the role of the ‘manager’ while the other is taking orders, rather than the budget being a joint project for the pair.

    Ramsey notes that getting aligned on money is not just about looking at daily and monthly spending, but seeing the big picture: a plan for your marriage that includes financial stability as one piece of a happy life.

    “You’ve been talking about ‘what’ way too much, but not ‘why’,” he told Hayden. “And you’ve got to work on that. Then she’s going to have to take an adult position in this relationship where we sacrifice together for the greater good of our overall family.”

    Ultimately, Ramsey advocated for much stricter budgeting for the couple, which may include a “beans and rice” diet until they can get rid of their debt. Ramsey also had some blunt advice on what to do about that Tesla.

    “You need to sell her car yesterday, it should have never been purchased,” said Ramsey, but his tough-love approach to Hayden’s troubles didn’t end there. “Don’t talk to me about baby showers when you’ve got debt up around your neck and you’ve got a one-year-old. And don’t talk to me about your Instagram life, I couldn’t give a crap less about your Instagram life.”

    “That’s me being mean, and forceful, because that’s what I see in your lives,” admitted Ramsey. “You’ve got to want a bright future more than you want a false present.”

    Sources

    1. RBC: Finances and feelings: Harsh economic realities taking a toll on relationships among Canadian couples – RBC poll (Dec 2024)

    2. CTV News: Fighting over money is a top predictor of divorce, study shows

    3. Ramsey: How to Talk to Your Spouse About Money by Rachel Cruze (April 24, 2025)

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

  • I’m 45 with 5 children to support and my breadwinning husband died unexpectedly. I only get $1.5K/month from disability and still have a $220K mortgage — how do I secure our financial future?

    I’m 45 with 5 children to support and my breadwinning husband died unexpectedly. I only get $1.5K/month from disability and still have a $220K mortgage — how do I secure our financial future?

    The death of a spouse is devastating under any circumstances. But, what happens if your spouse who passed away was also the breadwinner for your family of seven, including five children?

    When this type of tragic incident occurs, survivors left behind can find their whole life changed.

    Now, imagine that you are the surviving spouse. You have a disability, with a $1,500 monthly benefit and you own a home that you owe $220,000 on. And, your basic monthly bills (not including expenses like food, transportation and health care) are $3,320.

    Don’t miss

    You’d probably be panicking about your financial future in this situation, and rightly so. The big question is, what can you do to ensure that you and your children are provided for and the bills get paid?

    Take stock of your situation

    The first thing to do in this situation is to determine what your finances look like based on what your spouse left behind.

    Look to see if your husband has a will, and take account of any assets you may have, such as your spouse’s workplace 401(k), life insurance policies, bank accounts and investment accounts.

    Hopefully, you and your spouse communicated about these issues, and you know where to look. If not, you may have to contact financial institutions, look at your spouse’s computer history and email to see if you can find statements and use the National Association of Insurance Commissioners (NAIC) life insurance policy locator.

    In most cases, the estate will need to go through probate to officially transfer certain property and assets. A legal aid attorney may be able to help you through this process if you can’t afford a lawyer otherwise. If you were a joint owner on any assets, though, you should be able to access those right away.

    With luck, your spouse left something behind that can help you to make ends meet in this difficult situation. Depending on the equity in your home, you may also be able to downsize to something less expensive while freeing up cash you can invest to produce income to live on.

    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

    Claim available benefits

    If your spouse left behind limited resources, the next step is to try to claim any benefits that may be available to you.

    This can include survivor benefits from Social Security. These benefits are available to surviving spouses who are raising minor children, as well as to kids under the age of 17 or kids under the age of 19 if they are still in school. If any of the children have a disability, these benefits can be available at any age.

    With your limited financial resources, you will likely be eligible for other government benefits as well. These can include:

    • Temporary Assistance for Needy Families (TANF) benefits.
    • Supplemental Nutrition Assistance Program (SNAP) benefits.
    • Medicaid health insurance coverage.

    Other benefits, such as utility assistance programs and reduced property taxes, may also be on offer. Check Benefits.gov and search your state’s assistance programs to see what is available. These benefits can help you to make ends meet.

    Consider working in some capacity

    After the death of a breadwinning spouse, it normally would make sense for you to go back to work. However, that may not be the case if you have a disability, because earning too much money could affect your eligibility for disability and other benefits.

    Of course, if you could earn enough to support yourself and your family despite your disability, doing so would be a good idea. If your condition prevents you from doing that, though, then you could end up worse off if you earn too much to get benefits but not enough to meet your needs.

    Still, you can check with the benefits programs you participate in to see how much you are allowed to earn before losing benefits, and check out programs that help with job training and searches for people with a disability.

    Take care of yourself in all aspects of your life

    Finally, you need to think about creating more stability for yourself in your future — including emotional and financial stability.

    Taking steps to become more financially stable, like trying to build an emergency fund and savings, can be a good first step.

    You should also make sure to get the emotional support you need after a devastating loss. Check with your local community center, health center, faith group or hospital for support groups that may be available for you and your kids.

    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.

  • Virginia man says his girlfriend is spending nearly $2K a month on his credit card after they moved in together — Dave Ramsey says he needs ‘common sense’

    Virginia man says his girlfriend is spending nearly $2K a month on his credit card after they moved in together — Dave Ramsey says he needs ‘common sense’

    Dave Ramsey had some tough advice for a young man who recently asked for advice regarding his girlfriend who spends his money.

    Don’t miss

    Todd from Norfolk, Virginia called into the financial guru’s show and told him and co-host Rachel Cruze that he recently moved in with his girlfriend.

    In spite of the fact that they both work, Todd had agreed to pay the rent, grocery bills and other necessary expenses while his girlfriend paid down her debt from student loans and a car.

    Additionally, he also gave his girlfriend his credit card so that she could do the shopping for the couple. However, he told Ramsey and Cruze that his girlfriend spent $1,900 the last month and $1,700 the month before at stores like Target.

    “I’ve noticed a lot of charges that I can’t keep up with. I’ve brought it to her attention and every time I do we get into a fight,” he told the hosts.

    Ramsey was clear and direct with his advice: “Take the card back.”

    Living costs in 2025

    Todd did say that his girlfriend was spending money on items for their home. He said she’s not buying personal items like shoes and bags with his card. As they had recently moved in together, it’s expected that the costs may be high due to buying items to set up their household.

    Furniture Bank reports that the cost for furnishing a one-bedroom apartment averages $8,353. Even if you spend only on items from IKEA, they report that this will cost at least $3,200. Moreover, food prices have also been rising and are up 2.2% in the last year.

    In spite of these high costs, Todd and his girlfriend are only 23 years old, and they need to keep costs down and avoid expensive debt. They seem to be on different pages about how to budget for their new life, but it’s clear that this young man cannot afford to keep up with credit card payments of that size on his $60,000 salary.

    Ramsey advised Todd to sit down with his girlfriend and simply say, “Hey, I made a mistake. I’m sorry. The mistake I made was I started treating the situation like we’re married financially, and we’re not. And so, we need to keep our money completely separate … If we want the relationship to go forward, we’ve got to start talking about how we can be on the same page about money. In the meantime, give me my card back.”

    Advice to cohabiting couples

    While living together without being married is increasingly common for couples in the U.S., the fact remains that a very young couple just starting out in a relationship are best advised to keep their finances separate until they figure out some shared values around money.

    Ramsey and Cruze were very clear that this young couple needs to stop treating their relationship like a marriage.

    “It can’t be that we’re sharing money and a bed when we’re not married,” Ramsey said.

    Cruze also pointed out that money troubles are one of the top three predictors of divorce for married couples.

    “This is a big red flag, Todd,” she said.

    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

    In any cohabiting relationship, regardless of the age of the couple or how long they’ve been together, it’s important to create an open dialogue around money and establish some ground rules.

    Look for your points of agreement and points of difference on a number of factors, including whether each of you is a spender or a saver, future-focused vs. here-and-now-focused, and inclined to follow a budget or impulsive spending. No matter where each of you falls on these spectrums, it’s most important to clearly see one another without judgement, and with the intention of finding common ground.

    Once this has been established, you can talk about shared financial goals as a couple and how you will manage your money — separately, but together.

    How to get financially ready for marriage

    "You seem like such a level-headed, wise, smart young guy until we start talking about her," Ramsey said to Todd. “And then suddenly all of your common sense left.”

    “I guess my problem is I see so many characteristics in her that are marriage material, and so I try to overlook this problem and try to compromise and make it work. But every time I say something, we get into an argument,” said Todd.

    A persistent argument about money early in a relationship can be a strong sign that the partnership is not meant to last.

    On his Facebook page Ramsey posted, “The number one cause of divorce in America is money fights and money problems. But here’s the truth: It’s not about how much money you have — it’s about how you handle it together.”

    This claim seems to be backed up by research. One study from Kansas State University showed that couples who fight about money are more likely to divorce, regardless of how much money they make.

    "Arguments about money [are] by far the top predictor of divorce. It’s not children, sex, in-laws or anything else. It’s money — for both men and women,” said Sonya Britt, assistant professor of family studies and human services and program director of personal financial planning at Kansas State University. "It’s not children, sex, in-laws or anything else. It’s money — for both men and women."

    She recommends seeing a financial planner as part of premarital counseling.

    If you and your partner are arguing regularly about money, be sure you take the problem seriously as a conflict of values is a threat to the overall health of the relationship. A relationship counselor can help mediate these arguments and get you facing the deeper issues that underlie your conflict.

    In the meantime, Ramsey is clear about his belief that cohabiting couples should keep their finances totally separate: “You gave your roommate a credit card — and your roommate has a spending problem.”

    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.