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Author: Sarah Sharkey

  • My 71-year-old father lost ‘every cent’ of his 6-figure retirement savings — all because he trusted the wrong person online, and fell for an online scam. Can he dig himself out of this hole?

    My 71-year-old father lost ‘every cent’ of his 6-figure retirement savings — all because he trusted the wrong person online, and fell for an online scam. Can he dig himself out of this hole?

    Canadians lose millions of dollars every year to fraud, many of them are older.

    Imagine a 71-year-old retiree who falls for an online scam and loses every cent of his entire RRSP and other savings.The magnitude of this loss would put his entire financial future at risk.

    It can happen: According to the Canadian Anti-Fraud Centre (CAFC), in 2022, the elderly population lost more than $137.8M that year to scams, showcasing how this group of Canadians continue to be a prime target for fraudsters.

    If you or a loved one has fallen victim to a financial scam, the very first thing to do is immediately report the crime to the CAFC and the police.

    Losing a retirement nest egg

    Losing your retirement nest egg due to a scam can be financially devastating. Facing the situation head-on can help you right the ship.

    For starters, stop the bleeding. When you discover you’ve fallen for a scam, do your best to mitigate the damage. Stop any additional funds from leaving your bank account.

    Depending on the situation, you may actually recover some of the funds with the help of the authorities and your financial institution.

    If you don’t have any luck through reputable channels, don’t fall for a recovery scam, which promises to help recoup your funds but actually steals more money from you. If someone asks for an upfront fee to help you recoup your funds, it’s likely a recovery scam.

    When you’ve exhausted your recovery options, the only thing to do is move forward. Luckily, there are still some strategies to help regain your financial stability.

    Concrete steps you can take

    Start by exploring your Canada Pension Plan (CPP) benefits. For eligible seniors who haven’t applied for CPP benefits yet, it might be the right time to tap into this monthly income. Although CPP income alone likely won’t replace your savings, it can help you cover your needs.

    Beyond CPP, you can also tap into Old Age Security (OAS), another guaranteed benefit provided by the federal government and can provide some necessary extra income.

    You should also look into senior support programs available through local nonprofits. For example, some might offer packages of nutritious food or healthcare support, both of which might help you stretch out your budget.

    Don’t overlook the possibility of returning to work in some capacity. Although you might not feel up to a full-time position, you might take on part-time or remote work to bring in a supplemental income. When combined with your CPP benefits, it might be enough to help reorient your retirement finances.

    Finally, losing your nest egg might mean you need to reevaluate your retirement plans. For example, if you were planning to move to a more expensive area, staying put might be a viable option now.

    Or, if you have a large home with lots of equity, you might consider downsizing in order to lean on that hard-earned equity during your golden years.

    How to protect yourself (and your loved ones) from elder fraud

    Falling for a scam can come with serious financial consequences. As more retirees manage their finances online, getting familiar with common scams can help you protect your assets.

    According to the CAFC, investment scams is the costlier form of fraud perpetrated against seniors, at $78.7 million in 2022 alone. In this scenario, an elderly person falls victim to a fake get rich quick or investment decision based on misleading information. A scammer may try to get you to buy digital currencies such as crypto, stocks, bonds, or real estate or to invest in a business directly.

    The Competition Bureau cautions Canadians to be aware of these four warning signs:

    1. Claims of making a lot of money with little or no risk
    2. A person giving you a “hot tip” or revealing that they have insider information
    3. Feeling pressured to make a decision on the spot
    4. The seller isn’t registered with the provincial securities regulator

    Romance scams are another common pitfall. When an elderly person starts an online ‘relationship’ with a scammer, it often ends with the victim forking over funds to solve a problem for their purported partner.

    When you spot a scam or think you’ve spotted a scam, discontinue all communication with the fraudster.

    If you aren’t sure whether or not something is a scam, ask others for their opinion. If possible, ask someone, such as a child or a younger relative, for their opinion. In many cases, someone from a younger generation can help you quickly uncover a scam.

    If someone isn’t available, consider calling the CAFC at 1-888-495-8501. The agents can help you determine whether or not something is a scam.

    Sources

    1. Canada Anti-Fraud Centre: Canadian Anti-Fraud Centre: Annual Report 2022 (2023)

    2. Competition Bureau: Investment frauds

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

  • Sleepless Santa Monica residents say they’re fed up with ‘incessant’ beeping noises from nearby Waymo charging stations keeping them up — but is it simply the cost of regulatory compliance?

    Sleepless Santa Monica residents say they’re fed up with ‘incessant’ beeping noises from nearby Waymo charging stations keeping them up — but is it simply the cost of regulatory compliance?

    When the self-driving ride service Waymo moved two of its charging stations into a residential neighborhood in Santa Monica, no one anticipated a problem.

    But as KTLA 5 reports, local residents are complaining about the incessant noise coming from the driverless robotaxis every time they back up.

    “I can’t even keep my windows open, only during the day,” Michael McCoi told KTLA 5.

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    It’s a safety mechanism, but it’s driving some people crazy — one reportedly blocking robotaxis from entering a charging lot with his own body.

    “I want the noise stopped,” another resident, Darius Boorn told the Los Angeles Times. “I thought it was cool, and then those freaking noises started. And then I thought, ‘Oh no, this can’t be happening.’”

    Residents are looking to the city and Waymo to resolve the problem.

    What’s happening?

    Local resident Christopher Potter launched an online petition stating that the “constant beep-beep-beep” was hindering “our tranquillity during the day and our peace during the night.”

    He demands that Waymo — owned by Google’s parent company, Alphabet — operate the vehicles more quietly and only during “appropriate hours.”

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    Like all electric vehicles, Waymo’s cars must charge from time to time. The company has established multiple charging stations around the city for these robotaxis to stop and recharge, but the two in this residential area are causing the most uproar.

    Residents claim they can no longer sleep due to the constant noises emanating from the electric vehicles as they come and go from the lot.

    Sleep-deprived neighbors have complained to city council. Some have gone further by attempting to block Waymo cars from entering the lots with plastic traffic cones or — in one case — their own bodies. Waymo called for police to intervene and issue a restraining order in that situation.

    The burden of regulatory compliance

    Unfortunately, the solution is not as simple as turning off the noises on the electric vehicles.

    Federal regulations require these vehicles to make noises when backing up, in hopes of alerting pedestrians of the vehicle’s movement.

    Meanwhile, Waymo told the Santa Monica Daily Press that the city’s enforcement staff confirmed the noise levels did not violate its noise standards.

    But it also told KTLA 5 that it is “in ongoing conversation with the City’s Department of Transportation” and was looking at ways to address neighbors’ concerns. Waymo said it had planted trees and other greenery to block the noise and light from their neighbors.

    Additionally, the company has instructed employees to avoid loud music or using the vacuums between 9 p.m. and 9 a.m.

    For now, the mitigations implemented by the company haven’t created a solution.

    Of course, one option is to move the charging stations to a more suitable location away from residential areas. But that’s a costly decision for the company.

    Another solution might include rearranging the flow of the parking lot to allow for the vehicles to ‘pull through’ instead of backing in and out.

    If the neighborly complaints stem mostly from one residential building, perhaps Waymo could assist in soundproofing the residents’ apartments from the unavoidable noise of the electric vehicles.

    Ongoing communication between the company and the residents could help both sides reach a suitable solution.

    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.

  • ‘Do we have to die? Fix the road’: Phoenix family turns to drastic measures to get help after 18 cars have crashed into their home — they say it’s just a matter of time before someone dies

    ‘Do we have to die? Fix the road’: Phoenix family turns to drastic measures to get help after 18 cars have crashed into their home — they say it’s just a matter of time before someone dies

    When a single vehicle crashed into their home, homeowners Melissa and Ryan Langhor were shaken up. But now, after 18 crashes and counting, the Phoenix couple is calling for changes to protect their home from future incidents.

    They live near the corner of West Northwest Ranch Parkway and 163rd Lane, where drivers face a near-90-degree turn with little warning. Miss the turn, and you end up in the Langhor’s backyard.

    Don’t miss

    With their safety at stake, the couple painted a bold message on the backyard wall that’s been hit over and over again:

    “City of Surprise. Do we have to die? Fix the road.”

    The message is hard to miss. For the Langhors, it’s more than a cry for help. It’s a plea born of fear and frustration, aimed squarely at city officials. But how did it come to this?

    How did it happen?

    It sounds like something out of a movie, but for the Langhors, it’s a recurring nightmare. Of the 18 crashes so far, some have shattered windows, others have sent vehicles through their concrete wall. In one case, a car plowed into their dining room while they were sitting there with their kids.

    They no longer feel safe in their own home and don’t even sleep in their primary bedroom, worried a car might crash through the wall in the middle of the night.

    “Driving down the road, you can see the problem. All of a sudden, you hit a near-90-degree turn. And if you miss it, you end up right in their backyard,” reporter Steven Nielsen told Fox 10.

    Although the speed limit is 25 mph, drivers often go much faster.

    “It’s sad when you’re not feeling safe in your own home,” said Melissa Langhor.

    After a particularly bad crash in 2021, Melissa spoke at a Surprise City commissioners meeting, but nothing changed. Then, just last month, a truck crashed through their wall, stopping just feet from where she was sitting.

    “We have PTSD,” she told News 2.

    After that crash, city staff showed up — not to talk safety, but to make sure the wall was repaired and painted to match neighbourhood guidelines.

    “That’s what the city was concerned about — the color matching,” Langhor said.

    Instead of repainting, the couple turned the wall into a sign calling for change. Since then, the mayor has vowed to address the issue, starting with improved speed signs and traffic studies.

    “I hope he keeps his promise,” Melissa Langhor said.

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    How to make a neighborhood feel safe again

    After this many crashes, it’s clear something needs to change — and not just for the Langhors.

    Down the street, the city is taking action. After the Langhors put up their sign, officials installed concrete barriers along the road to protect the homes. Drivers may still speed, but the barriers make it far less likely they’ll crash into someone’s living room.

    That offers some peace of mind. Still, for families living near dangerous roads, it’s worth taking a few extra steps to prepare — just in case.

    Start with an emergency fund. A cushion of cash can be a lifesaver if your home is damaged and you need to cover repairs quickly.

    Also, consider setting aside money each month to invest in home safety over time. Ryan Langhor built a garden along the back wall to help slow down any incoming cars. Other ideas include planting trees or placing large boulders as barriers.

    And of course, make sure that your homeowners insurance is up to date. If a car hits your house, you’ll want help covering the cost to fix it.

    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.

  • ‘It hurts my heart’: A housing crisis is unfolding in Utah as 27 people found living crammed into 1 house — and advocates say soaring costs mean some families simply ‘cannot afford to live’

    ‘It hurts my heart’: A housing crisis is unfolding in Utah as 27 people found living crammed into 1 house — and advocates say soaring costs mean some families simply ‘cannot afford to live’

    Investigators conducting a search warrant at 4:30 a.m. on May 14 discovered no fewer than 27 people living in a single-family home in Washington, Utah. This included three children under the age of 12.

    Don’t miss

    Inside the home, which had undergone many unpermitted remodels, they saw exposed electrical panels, bedrooms without windows and kitchens in many small rooms. Perhaps most startling was the construction scene in the basement, which appeared to be an effort to make more space for even more occupants.

    "Imagine if a fire had started. Most of the windows were blocked, many rooms didn’t even have windows. People wouldn’t have been able to escape," said Jordan Hess, Legislative Affairs Director for Washington City, to KUTV. He added that what drew the city’s attention to the home was neighbors voicing their concerns.

    In addition to the unsanitary and unsafe conditions, police also found fraudulent identity documents and illegal narcotics. Nineteen people were transported to an ICE detention facility and one person was taken into custody on narcotics charges, reports KUTV.

    Police chief Jason Williams told the news network that the landlord is currently under investigation and issued multiple citations for code violations. He claimed he rented the property to five tenants.

    As housing costs in Utah soar, more people could find themselves facing similar overcrowding situations.

    Another similar situation in northern Utah?

    While the sheer number of people living in the southern Utah home is shocking, these residents represent part of a growing crisis across the state, says KUTV.

    It spoke to a northern Utah woman who said a home in her neighborhood may have more than 20 people living in it. She learned about it from an administrator at her child’s school and contacted the Utah Division of Child and Family Services.

    “It hurts my heart,” she said. “We’re so concerned for this child’s well-being.”

    The local police department has also been notified.

    A full house, a fractured system

    The heartbreaking reality of people packed like sardines into an unsafe living situation is not new to Tara Rollins, executive director of the Utah Housing Coalition.

    She told KUTV her organization hears from people in such living situations.

    "When you look at families doubling or tripling up, they’re trying to stay under the radar," she said. "The problem is people cannot afford to live in our community. It’s so expensive."

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    Most Utah residents agree that the state is “in a major housing crisis” or “facing serious housing challenges,” according to a Q4 2024 survey by Envision Utah and Utah Workforce Housing Advocacy. This can make keeping a roof over your head without breaking the bank an almost impossible challenge in the state. The causes cited included interest rates, construction costs, developer or landlord greed, too many people moving to Utah, and insufficient housing supply.

    In part, the exploding population of Utah plays a role in the lack of affordable housing. As more people move to and are born in the state, the already limited housing supply is playing catch-up.

    For those looking to buy a house, the median sales price was $559,200 in April, according to Redfin, which was 28% higher than the national median.

    But lower-income renters face the most significant cost burdens. According to the National Low Income Housing Coalition, there is a shortage of over 48,000 affordable and available rental homes for extremely low-income renters, many of whom are seniors.

    This housing stress doesn’t just play out in people’s budgets, it impacts other areas of their lives. For example, studies have found that lower-quality housing conditions can lead to worse healthcare outcomes, in part because most of their income is consumed by housing costs.

    All of these factors make the homelessness crisis in Utah less surprising. In 2023, the number of Utahns experiencing homelessness for the first time hit 9,800, an almost 10% increase from 2022.

    As more people face homelessness, this issue has become a concern for many Beehive State voters. In fact, housing affordability was the top concern for voters during last year’s gubernatorial election.

    With more light shed on the issue of housing affordability, hopefully, things will start to change in the right direction.

    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.

  • Los Angeles woman tells The Ramsey Show co-hosts that her husband, 53, worries he’ll die young, wants to spend $500,000 to ‘buy his pension’ and retire early — they offered up another option

    Los Angeles woman tells The Ramsey Show co-hosts that her husband, 53, worries he’ll die young, wants to spend $500,000 to ‘buy his pension’ and retire early — they offered up another option

    Faced with a history of family members dying young, Sarah’s husband wants to spend $500,000 to retire early. She called The Ramsey Show to find out if fear is a good enough reason.

    Sarah and her husband, 53, are in a strong financial position. Their house is paid off, they’ve saved millions for retirement and on paper, they’re set.

    Don’t miss

    But his family history looms large. With his mother dying at 59 and both of his brothers dying at 55, he’s starting to wonder if he should clock out of work early, just in case. That’s why he’s seriously considering spending the money to buy five years of his pension and retire early.

    The Ramsey Show hosts pushed back on the idea of making a major financial decision based on fear.

    “None of us is promised tomorrow,” said Ken Coleman.

    Buying a pension to retire early?

    At the heart of the matter is Sarah’s husband’s fear of dying young. While she called to ask if they should buy the pension, the Ramsey hosts cautioned against making an emotional decision.

    “I would not sacrifice the future here on the altar of the immediate,” said Coleman. “We have to live in the moment, yes, but also not sacrifice our future based on some emotion that’s not rooted in facts.”

    Jade Warshaw echoed his sentiment.

    “I don’t like that idea,” she said. “Something about that doesn’t feel right.”

    As the hosts dug deeper, it became clear the couple doesn’t need the extra money from the pension to retire early. They own their home outright and have millions saved for retirement. If they spent $500,000, they’d receive about $6,000 per month in retirement income. But given their other assets, they likely don’t need it to live comfortably.

    “You don’t need the money, so I certainly wouldn’t buy it,” Warshaw said. “Now it’s up to you guys to decide: what is this $6,000 a month worth to us?”

    If it’s not worth working for seven more years, he could retire now, without buying the pension.

    Beyond the numbers, Warshaw encouraged the couple to consider using some of their money to assess and improve his health. Lifestyle changes and preventive care could help improve both his quality of life and longevity.

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    When does it make sense to retire early?

    Retiring early can be appealing for many reasons. Maybe, like Sarah’s husband, you’re worried about your health. Maybe you feel burned out or want more time to travel.

    Whatever the reason, it’s important to consider the financial side. If you’ve spent your working years saving, paid off your house and built a solid nest egg, early retirement might be an option.

    But if you’re still in debt or have minimal savings, this might be the time to buckle down on your financial goals instead.

    In Sarah’s case, her family’s strong net worth and paid-off house make early retirement a real possibility. If they had called in with debt or little savings, the advice would’ve been different.

    According to a recent Northwestern Mutual survey, Americans believe they’ll need $1.26 million to retire comfortably. Sarah and her husband are already in that ballpark, setting them apart from the average household.

    And if full retirement doesn’t make sense just yet, a gradual approach might. Scaling back to part-time hours — say from 40 to 20 a week — can offer many of the same lifestyle benefits without jeopardizing your financial future.

    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.

  • Woman tells The Ramsey Show co-hosts that her husband, 53, worries he’ll die young, wants to spend $500,000 to ‘buy his pension’ and retire early — they offered up another option

    Woman tells The Ramsey Show co-hosts that her husband, 53, worries he’ll die young, wants to spend $500,000 to ‘buy his pension’ and retire early — they offered up another option

    Faced with a history of family members dying young, Sarah’s husband wants to spend US$500,000 to retire early. She called The Ramsey Show to find out if fear is a good enough reason.

    Sarah and her husband, 53, are in a strong financial position. Their house is paid off, they’ve saved millions for retirement and on paper, they’re set.

    But his family history looms large. With his mother dying at 59 and both of his brothers dying at 55, he’s starting to wonder if he should clock out of work early, just in case. That’s why he’s seriously considering spending the money to buy five years of his pension and retire early.

    The Ramsey Show hosts pushed back on the idea of making a major financial decision based on fear.

    “None of us is promised tomorrow,” said Ken Coleman.

    Buying a pension to retire early?

    At the heart of the matter is Sarah’s husband’s fear of dying young. While she called to ask if they should buy the pension, the Ramsey hosts cautioned against making an emotional decision.

    “I would not sacrifice the future here on the altar of the immediate,” said Coleman. “We have to live in the moment, yes, but also not sacrifice our future based on some emotion that’s not rooted in facts.”

    Jade Warshaw echoed his sentiment.

    “I don’t like that idea,” she said. “Something about that doesn’t feel right.”

    As the hosts dug deeper, it became clear the couple doesn’t need the extra money from the pension to retire early. They own their home outright and have millions saved for retirement. If they spent US$500,000, they’d receive about US$6,000 per month in retirement income. But given their other assets, they likely don’t need it to live comfortably.

    “You don’t need the money, so I certainly wouldn’t buy it,” Warshaw said. “Now it’s up to you guys to decide: what is this US$6,000 a month worth to us?”

    If it’s not worth working for seven more years, he could retire now, without buying the pension.

    Beyond the numbers, Warshaw encouraged the couple to consider using some of their money to assess and improve his health. Lifestyle changes and preventive care could help improve both his quality of life and longevity.

    When does it make sense to retire early?

    Retiring early can be appealing for many reasons. Maybe, like Sarah’s husband, you’re worried about your health. Maybe you feel burned out or want more time to travel.

    Whatever the reason, it’s important to consider the financial side. If you’ve spent your working years saving, paid off your house and built a solid nest egg, early retirement might be an option.

    But if you’re still in debt or have minimal savings, this might be the time to buckle down on your financial goals instead.

    In Sarah’s case, her family’s strong net worth and paid-off house make early retirement a real possibility. If they had called in with debt or little savings, the advice would’ve been different.

    According to a recent Northwestern Mutual survey, Americans believe they’ll need US$1.26 million to retire comfortably. Canadians fare similarly, with a BMO survey reporting that they believe they’ll need around CA$1.54 million to retire comfortably. Sarah and her husband are already in that ballpark, setting them apart from the average household.

    And if full retirement doesn’t make sense just yet, a gradual approach might. Scaling back to part-time hours — say from 40 to 20 a week — can offer many of the same lifestyle benefits without jeopardizing your financial future.

    Sources

    1. The Ramsey Show Highlights: Pay $500,000 To Retire? (He’s Afraid He’s Going To Die Early)(June 13, 2025)

    2. NorthWestern Mutual: Planning and Progress Study 2025

    3. BMO: BMO Retirement Survey: Over Three Quarters of Canadians Worry They Will Not Have Enough Retirement Savings Amid Inflation (Feb 12, 2025)

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

  • Florida man facing ‘lose-lose scenario’ as his wife pushes for her mother to act as their real estate agent, despite being brand new to the game — even Dave Ramsey is speechless

    Florida man facing ‘lose-lose scenario’ as his wife pushes for her mother to act as their real estate agent, despite being brand new to the game — even Dave Ramsey is speechless

    Wade called into The Ramsey Show in an emotional and financial quandary, hoping Dave Ramsey could give him some advice.

    The Florida man told the finance guru he doesn’t want to use his recently licensed mother-in-law as the listing agent when he and his wife sell their home.

    Don’t miss

    “I’m not comfortable with that because she’s brand new with no experience selling homes, and I feel like this is too big of a transaction to mix family with business,” Wade said. “But my wife is afraid it will cause a rift with her mom if we don’t use her.”

    Initially, the situation left Dave Ramsey stumped, saying, “Wow, you’re screwed.”

    High financial and emotional stakes

    Either Wade’s mother-in-law, an inexperienced real estate agent, will be involved in a major financial transaction, increasing risk, or — if Wade and his wife decide not to use her — she’ll be offended.

    “Neither one of these choices are good,” Ramsey admitted, describing it as “an absolute lose-lose scenario.”

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    So far, Wade and his wife haven’t mentioned anything to the mother-in-law.

    “We’re trying to come to terms together before we even start talking,” he said.

    Ramsey praised Wade for having a “very healthy marriage” with clear examples of open communication, then he and co-host Ken Coleman explored possible strategies to deal with the situation at hand.

    Coleman asked whether Wade’s mother was signed on with a successful real estate agency and he confirmed she was.

    Coleman and Ramsey said that was good news, because it meant Wade’s mother-in-law could co-list the property with a more experienced agent.

    With that in mind, Ramsey offered up some options:

    • Use Wade’s mother-in-law as a real estate agent but only on the condition that she agrees to a co-list with a top performer in the offer. That way, Wade and his wife would feel confident knowing someone else with extensive real estate experience was involved.
    • Use Wade’s mother-in-law as an agent but make it clear to her that it’s for a 90-day trial, and if she is unsuccessful at selling their home in that time, the couple will end the agreement and contract with a new listing agent.
    • Do not use Wade’s mother-in-law as a real estate agent and politely explain why they aren’t comfortable working with her for this major financial decision.

    “I don’t think there’s a magic wand here,” said Ramsey. “Don’t do anything until you and your wife are in solid agreement.”

    He even advised writing down the agreement that Wade, his wife and his mother-in-law come to on paper, so they can refer back to their agreement if anything goes wrong down the line.

    How to navigate family dynamics and money

    Mixing family and money can get complicated quickly. In this situation, both finances and feelings are at play. And no one wants to damage a relationship over this.

    “Dude, this is very sensitive,” Ramsey said.

    Regardless of how Wade and his wife move forward, it’s likely going to involve a difficult conversation.

    Here are his tips on how to deal with sensitive family discussions around money:

    In agreement with your spouse, map out your position before the discussion. That preparation will help you both respectfully stick to the decision you’ve made together through the course of the discussion.

    Get a third party involved when it comes time for the discussion, inviting a pastor or another trusted party to help share your decision in a respectful way.

    Acknowledge the elephant in the room right away and communicate with honesty and clear boundaries. In this case, the elephant would be the mother-in-law’s new career path and the couple’s upcoming home sale.

    Wade and his wife might say something like, “A home purchase and sale is a huge financial step for us, and we feel more comfortable with an experienced real estate professional.”

    Try to end the conversation on a positive note by offering other ways to support your family member. For example, Wade and his wife could spread the word about his mother-in-law’s new license.

    Although it might be a challenge, it’s important to do what’s best for you and your household on this size of a transaction.

    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.

  • California woman says she threatened a debt collector after taking this 1 golden nugget of advice from Dave Ramsey — and it worked. Here’s what The Ramsey Show hosts pushed her to do next

    California woman says she threatened a debt collector after taking this 1 golden nugget of advice from Dave Ramsey — and it worked. Here’s what The Ramsey Show hosts pushed her to do next

    Mary from San Bernardino, California, is one month into following financial advice from The Ramsey Show, and although she’s already completed step one of Dave Ramsey’s baby steps, she finds herself facing pressure due to her debt.

    She shared with hosts Jade Warshaw and Ken Coleman that she has $9,000 in collections and $10,000 in active student loan debt, and recently got a call from a debt collector demanding payment on a $6,000 balance and threatening legal action.

    Instead of panicking, Mary used a line she heard on the show: “My financial advisor told me I might file bankruptcy, so if I do, you’ll get the call. Remove me off your call list.” Then she hung up.

    The call left her rattled. She wasn’t sure if she’d gone too far or just stood her ground. So she called into The Ramsey Show for help. Here’s what the hosts had to say, and what they told her to do next.

    Don’t miss

    How Mary handled the threat, and what the hosts think

    Co-hosts Jade Warshaw and Ken Coleman applauded her efforts.

    “What you essentially told them is I don’t have the money that you’re asking for and I’m broke. And so, if you think you’re going to get that money from me, you’re wrong,” said Warshaw.

    Warshaw expanded, “Credit card companies do sometimes sue you. But it takes a long time to get to that step.”

    After confirming that she did the right thing, the hosts offered to coach her through their next steps.

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    Moving beyond the threat

    Mary shared that she now has a $261 monthly surplus after sticking to her budget. The hosts recommended she use that surplus to work the debt snowball plan, which involves paying off her smallest debt first and working her way up from there.

    Mary mentioned that she’d sent a money order of around $450 to pay down her debt in collections, but Warshaw advised against continuing that plan.

    Instead, Warshaw suggested that Mary pause those payments and save up around $5,000 to offer a lump-sum settlement on the $6,000 debt in collections. This approach could help her clear the balance for less than she owes.

    “That is what you do with debt in collection, you settle it,” said Warshaw.

    Beyond that, Mary is already taking proactive steps to grow her income. She recently launched a nutrition and meal prep business, earning $2,040 per month — with plans to expand.

    Warshaw left her with these encouraging words: “You’re capable of far more than you ever thought possible.”

    For others in a similar position, the path forward includes more than just budgeting. The hosts recommend focusing on a few key steps:

    • Stick with the debt snowball method
    • Pause payments on collections and negotiate a lump-sum settlement
    • Freeze any new credit card use
    • Grow income through side work or entrepreneurship
    • Build a 3- to 6-month emergency fund after debts are repaid

    By staying focused and strategic, Mary, and others like her, can dig out of debt for good.

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

  • Knoxville woman, 79, being evicted from apartment over ill daughter’s ‘excessive noise and disruptive behavior’ — how to handle housing obstacles on a fixed income amid US housing crisis

    Knoxville woman, 79, being evicted from apartment over ill daughter’s ‘excessive noise and disruptive behavior’ — how to handle housing obstacles on a fixed income amid US housing crisis

    Julie Powers, a 79-year-old senior from Knoxville, Tennessee, is facing eviction from her long-time rental apartment.

    The septuagenarian, who is living on a monthly fixed income of $1,900, began experiencing trouble when neighbors started filing complaints about Powers’ 42-year-old daughter, who moved into the apartment over a year ago.

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    Although her daughter had been living there for some time, tensions escalated when residents in the community raised concerns about the daughter’s behavior.

    “She would scream,” Julie Powers told 6 News, “She would say words that didn’t need to be said. But what she said was loud enough for the neighbors to hear.”

    Eventually, the property management company issued an eviction order for Julie Powers. If nothing changes, she’ll be required to leave her apartment within a few months.

    Facing eviction after 25 years

    Powers has lived at the Center Court apartment complex — managed by Freedom Investment Group (FIG) — for more than 25 years. Until recently, everything was going well. But when her adult daughter moved in after a period of homelessness, things took a turn.

    “She called and said, ‘Mom, can I come over?’ I said, ‘Of course.’ So, that was in December of 2023,” Powers said.

    Her daughter, who struggles with unaddressed mental health issues, exhibited behavior that unsettled other residents. As complaints mounted, the property manager issued a notice giving her 14 days to vacate the premises, citing “excessive noise” and the presence of an “unauthorized guest.” Her daughter left within the 14-day window, but returned shortly after.

    In early April, Powers discovered she might be evicted from her apartment after her rent payment was declined. A week later, FIG accepted Powers’ rent payment, but the underlying issue remained unresolved.

    As a result, a formal complaint was filed, and Powers was summoned to court on April 29. From FIG’s point of view, it is “responsible for providing tenants with a peaceful and tranquil living environment,” which includes “limiting excessive noise and disruptive behavior by a tenant.”

    Powers appeared in court with a Legal Aid attorney. As of now, she is allowed to remain in her apartment for two more months — under strict conditions.

    First, Powers’ daughter must leave the apartment by May 1 and remain on the no-trespass list. She cannot return to the property or be invited back. If she shows up, Powers is required to report it to the police.

    Powers is now hoping to find a new place to live within the next month — ideally a single-family home, where her daughter’s presence won’t disturb the neighbors. In the meantime, the Knox County Eviction Program will cover Powers’ rent through June, and Water Angel Ministries is stepping in to support both her and her daughter.

    “With her daughter, we will work hand in hand with her,” said Kathy Oran, program coordinator at Water Angel Ministries. “Do an assessment first of all to find out what her needs are so that she can be somewhere safe, so that she can be successful.”

    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 can seniors on a fixed income protect themselves?

    Julie Powers isn’t alone. Many seniors living on a fixed income face similar challenges — especially during a housing crisis.

    After living in what was presumably an affordable apartment for over 25 years, Powers is now being forced to look for a new home in an increasingly expensive rental market.

    With average rent prices in the Knoxville area hovering around $1,800, it may be difficult for her to find an affordable place to call home with her fixed income of $1,900 per month.

    Along with rising housing costs, older adults often face increased health care expenses. These mounting costs can quickly deplete retirement savings. However, financial assistance programs are available. Seniors may qualify for rental assistance, housing vouchers and emergency rental aid to help cover expenses and avoid eviction.

    The HOPE Hotline (1-888-995-4673) offers free counseling and housing-related education. Representatives can also help connect older adults to local resources that offer financial and housing support.

    According to the National Council on Aging, thousands of public and private programs exist to help low-income older adults pay for essentials like groceries, health care and more. Accessing these resources can help reduce pressure on fixed income.

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

  • This historic Washington city’s mayor says his struggling town may have to turn to drastic measures to offset a $13M deficit — including collecting an extra $720/year from local homeowners

    This historic Washington city’s mayor says his struggling town may have to turn to drastic measures to offset a $13M deficit — including collecting an extra $720/year from local homeowners

    Edmonds may look like a postcard-perfect Washington town, but a $13 million deficit and more than $40 million in deferred maintenance is pushing the city toward historic, potentially irreversible changes.

    City officials are slashing services and weighing drastic options to stay afloat. “We are in a financial crisis, a significant one,” Mayor Mike Rosen told KOMO News.

    Now, Edmonds is considering selling off prized assets, including City Hall and the historic Frances Anderson Center, as well as asking homeowners to pay an extra $720 per year in property taxes to help balance the budget.

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    Edmonds’ financial crisis

    Edmonds’ severe budget crunch is pushing the city toward a tipping point.

    “We had cuts in the police, our public records requests, which we are required to do. We had to let go of staff in our traffic and parking enforcement, animal control, so it affects the entire city,” Mayor Mike Rosen told KOMO News.

    For years, the city has spent more than it brought in. In 2025, the city expects to collect about $16 million in general property tax revenue, yet the approved budget for the police department alone is around $19 million.

    “We never took care of the backlog," said City Councilmember Vivian Olson. "I think that, coupled with inflation, and rising costs of everything.”

    And now it’s time to clean up that deficit. Beyond the budget cuts, the city is considering selling off assets, like City Hall, public parks and the historic Frances Anderson Center. Additionally, the mayor has backed a plan that allows for the city to increase its property tax revenue.

    But many residents are skeptical, especially when it comes to selling off public landmarks.

    “Those are the things that make this city identifiable,” said Adel Sefrioui, a resident on the Edmonds Chamber Board of Directors, “You sell those assets, they’re gone forever and the money will eventually dry up and then you still have a structural mess on your hands.”

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    Preserving history vs. fiscal necessity

    Raising property taxes might seem like the obvious solution for a growing, affluent city like Edmonds — but it’s not that simple.

    Washington state’s 1% levy cap prevents cities from raising property taxes by more than 1% annually unless voters approve a ballot measure. In response, the Edmonds City Council voted on July 8 to place a levy lid lift proposal on the November ballot.

    If approved, the measure would allow the city to raise property taxes, generating an additional estimated $14 million in annual revenue. It’s expected to cost the average homeowner a bit more than $60 per month.

    While the city awaits the voters’ decision, officials are making steep cuts. So far, Edmonds has eliminated programs, raised service fees, sold vehicles and equipment and cut 48 full-time positions.

    The pressure is mounting across the state. Just days ago, the small city of Cle Elum declared bankruptcy after a legal dispute left it with $26 million in court-ordered payments. With essential services and property values now at risk there, Edmonds officials are hoping to avoid a similar financial freefall.

    But without new revenue, the services and public spaces that give Edmonds its charm could begin to fade — potentially reducing tourism, hurting local businesses, and weakening the city’s long-standing identity.

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