Author: Victoria Vesovski

An Arizona resident who wishes to only be identified as Dave received a text while out running errands that looked like a standard fraud alert from Bank of America. The message asked if he had authorized a $399 purchase at Best Buy. He replied “NO.”

By the end of the day, he had unknowingly handed over his entire life savings of $27,000 to a scammer posing as a bank representative.

What followed was a meticulously orchestrated con that turned his iPhone into a tool for fraud and left him fearing he’d never see his money again.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now

The text that cost him everything

After replying to the suspicious text, Dave received a follow-up message with a phone number to call. The person on the line claimed to be from Bank of America and warned that Dave’s account was compromised, even giving him a fake ID number to seem legitimate.

The caller then convinced Dave that the scammer targeting him was actually a Bank of America employee. To stop them, they said, he needed to immediately withdraw all of his money.

Staying on the phone the entire time, Dave went to a local branch and withdrew his full balance in two transactions, totaling $27,000.

Then came the twist: The scammer instructed Dave to “secure” the money using his Apple Wallet. They walked him through creating a scannable card on his phone that was secretly linked to their account.

Dave drove to the bank’s drive-thru ATM and deposited the cash, believing it was being transferred into a safe new account. In reality, the funds were instantly funneled to the scammer.

“This is my life savings, and I don’t have any assurances, but they sounded so real," Dave said.

A rare win in a losing game

When Dave realized what had happened, he called Bank of America’s fraud department, only to be told nothing could be done. But he refused to give up. He contacted the Peoria Police Department and was connected with Detective Michael Finney, a veteran of financial crime investigations.

Finney explained that the first 72 hours are critical in recovering stolen funds. After that window closes, the chance of success drops to under 10%.

In Dave’s case, Finney uncovered a new tactic: scammers using Apple Wallet as a real-time account-to-account transfer tool. The digital card created by Dave allowed the fraudster to siphon funds the moment they were deposited.

Finney quickly obtained a search warrant, froze the linked accounts, and worked closely with the bank. After five months, about 90% of Dave’s money was recovered.

“Without the help of Peoria Police, I’d be living with family,” Dave said. “I’d be completely destitute.”

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

Scams are evolving — how to protect yourself

In 2022, text scams drained $330 million from Americans, according to the FTC’s Consumer Sentinel Network, with a median loss of $1,000 per victim. In fact, 40% of people who reported a text scam in 2022 said the text impersonated a bank.

Text scams, phishing emails, and social engineering tactics are becoming more convincing and more dangerous, thanks to advancements in AI.

In December 2024, the FBI issued a public warning outlining how criminals are leveraging AI to supercharge these scams. Criminals now deploy hyper-realistic voices, deepfakes, and targeted messages that are personalized enough to fool even the most careful consumers.

Detective Finney offers one non-negotiable piece of advice: trust nothing that feels rushed or off-script. Instead, use the official number printed on the back of your card. Any email claiming you owe money or threatening legal action, especially from a “government agency,” is likely a scam.

Here are the FBI’s top recommendations to protect yourself:

• Never click on links in unsolicited emails or texts, even if they appear to come from your bank.
• Don’t share usernames, passwords, or verification codes with anyone.
• Use official phone numbers found on bank cards or official websites when verifying suspicious activity.
• Enable two-factor authentication on all accounts that offer it.
• Be cautious with social media. Scammers can use personal details to crack passwords or security questions.
• Check your credit reports annually at TransUnion, Equifax, or Experian. You’re entitled to one free report from each bureau per year.
• Report suspicious activity immediately to your local police department.

Dave was one of the lucky ones. Thanks to his persistence and a determined detective, he was able to recover most of what he lost. But many others aren’t so fortunate. Scammers are constantly evolving their tactics, and once the money is gone, it’s often gone for good. That’s why staying informed, skeptical and proactive is the best defense against becoming the next victim.

What to read next

• 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
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead

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

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

Bestselling author of Rich Dad, Poor Dad, Robert Kiyosaki, publicly challenged finance guru Dave Ramsey on the topic of debt. Kiyosaki proudly proclaimed having US$1.2 billion in debt, objecting to the conventional wisdom that it’s better to live debt-free.

“My friend Dave Ramsey says ‘Live debt free.’ I say ‘I use debt to invest.’ I am $1.2 billion in debt", Kiyosaki shared on X in March of last year.

Kiyosaki champions an investment philosophy that leverages debt — not as a burden, but as a tool to build wealth by investing in tangible assets such as precious metals. However, he reckons that this approach is not for someone with a basic understanding of finances, but rather, a strategy for a seasoned investor with a willingness to take a big risk for an even bigger payoff.

In a blog post, Kiyosaki reinforced his philosophy on money, writing, “Why do you want to achieve financial independence? For many, it’s more than just about money. It’s about freedom and security, especially when life throws unexpected challenges your way.”

A dual focus on the freedom to spend with the security to weather financial storms contrasts Ramsey’s push to achieve financial security through strict debt elimination.

So, is Kiyosaki’s debt-driven strategy a viable path to building wealth?

If you think he’s on to something and want to invest like Kiyosaki without going into debt to the tune of a billion dollars, here’s where you can start.

So, who is right? Is Robert Kiyosaki correct to prioritize investing or is Dave Ramsey right about debt?

Robert Kiyosaki and Dave Ramsey are engaged in a high-profile financial debate over this core question: Is it better to live debt-free (Ramsey’s view), or to use debt as a tool to build wealth (Kiyosaki’s view)?

Kiyosaki publicly boasts about being US$1.2 billion in debt, claiming he uses it to invest in tangible assets like real estate and precious metals. In contrast, Ramsey promotes a strict debt-free lifestyle, focusing on budgeting, avoiding credit and financial security through simplicity and discipline.

What should you do?

There’s no one-size-fits-all answer — your financial strategy should depend on your income stability, risk tolerance and financial goals.

Here’s how to decide which philosophy is right for you.

Managing high-interest debt

While Kiyosaki advocates using debt to acquire assets, this approach carries many inherent risks. For example, high-interest credit card debt is not the kind you want hanging over your head, as it can quickly become unmanageable.

Credit card debt can feel like a big weight on your shoulders. Luckily, there are smart ways to get rid of it. One helpful strategy is debt consolidation, where you gather all your small debts from different accounts and put them into one new, bigger. The Financial Consumer Agency of Canada can connect you to resources that will help you consolidate the debt more efficiently and pay it off rather than having to manage separate bills.

Plus, you might be able to negotiate a lower interest rate on the new loan compared to what you were paying on your credit cards. This means more of your money goes to paying off what you owe, instead of just covering high interest charges.

By finding a way to combine your debts and get a better interest rate, you can pay off what you owe faster and save money, helping you get out of debt more quickly.

When strategic debt (Kiyosaki) might work

• You have stable or high income, with good credit and a strong understanding of investing.
• You’re comfortable with risk and are actively growing wealth through leveraged assets like rental properties or business investments.
• You’re using low-interest debt to buy assets that generate cash flow and appreciate in value.

Actionable Step: Create a wealth-building strategy using leverage, while maintaining liquidity and managing risk. This can include purchasing investment real estate properties or boosting your retirement savings through borrowing.

Focus on investing

If you choose to focus on building your nest egg rather than prioritizing debt repayment, be sure to build a well-diversified portfolio. For instance, you may want to consider a real estate investment property as rental income since it can be a good hedge against inflationary pressures; however, you should balance this geographically-specific investment with broader investments such as stock market holdings and alternative assets.

One option that Robert Kiyosaki is very bullish on is using gold as a hedge against equity volatility. Precious metals like gold and silver are widely favoured as safeguards against inflation and economic instability. In the past, Kiyosaki has publicly talked about the impact of the U.S. dollar’s disconnection from the gold standard during Richard Nixon’s presidency in 1971.

In late 2024, Kiyosaki predicted, “Gold will soon break through $2,100 and then take off. You will wish you had bought gold below $2,000. Next stop, gold $3,700.”

At the time of writing, the price of gold per ounce is fluctuating around US$3,400 to US$3,430, which equates to about C$4,600 to C$4,650 based on current exchange rates.

It’s possible to take advantage of the long-term market potential of this precious metal by starting a Gold RRSP or TFSA with help of the Royal Canadian Mint (RCM).

A Gold RRSP or TFSA can be a secure and stable investment option, allowing investors to include gold or silver in their portfolio, both diversifying your assets and safeguarding your cash value against economic uncertainties.

There are several benefits when you invest in gold or silver with an RRSP or TFSA. In an RRSP, you’ll likely not pay tax until you withdraw at a later date, typically at retirement. In a TFSA, any money you earn from your gold investments is usually tax-free. Understanding how gold and silver fit into the bigger investment picture can help you make smart choices to grow your savings and feel more confident about your financial future.

However, be aware that while gold is known as a good store of value, it is also considered to be a speculative and highly volatile investment. Unlike stocks or real estate, gold doesn’t produce income. Its future value is tied to price speculation rather than earnings or dividends.

When a debt-free lifestyle — the Dave Ramsey philosophy — makes sense

• You have unpredictable income, or are living paycheque to paycheque.
• You’ve struggled with credit card or personal loan debt in the past.
• You value financial peace of mind and want to reduce risk.
• You’re saving for retirement, a home, or children’s education and need a clear path with fewer variables.

Actionable Step: Use the snowball or avalanche method to aggressively pay down high-interest debt, and avoid new debt unless it’s for appreciating assets like a primary residence.

No matter what you choose: Make sure to get expert advice

Kiyosaki often urges his followers on X to be cautious when choosing a financial advisor. “Don’t be a loser. Choose your financial advisors carefully", he told his followers in February.

While choosing a financial advisor should be done with prudence, a recent Vanguard-Angus Reid survey, revealed how advisors offer clear benefits for investors aiming for success in Canada. Despite a trend among younger investors preferring to use online platforms, advisors remain the primary source of financial guidance for 89% of all investors.

Here’s how they can be beneficial to you:

• Valuable guidance: 44% of Canadian investors report that their advisor provides high value, suggesting a direct positive impact on their financial journey.
• Optimism through planning: A formal financial plan designed by an advisor significantly boosts confidence and sees 40% of investors anticipating an abundant financial future, compared to just 22% without a plan.
• Consistent communication fuels confidence: Regular interaction matters — 46% of clients who communicate with their advisor monthly or more frequently to fine-tune their investment strategies feel optimistic about their financial future, a much higher percentage than the 18% who only connect annually.

Bottom line

If you’re early in your financial journey or want low stress, follow Ramsey’s path to debt-free living. If you’re an experienced investor with a solid cushion, you might choose Kiyosaki’s path, using debt to accelerate wealth — but only with careful planning and risk controls in place.

Just remember to let your financial habits and goals — not someone else’s philosophy — guide your decisions.

Sources

1. X: Robert Kiyosaki (Mar 16, 2024)

2. Royal Canadian Mint: Can I hold gold in my Canadian TFSA or RRSP? (Apr 24, 2024)

3. Vanguard: Canadians Show Strong Loyalty and Satisfaction to Financial Advisors, But Younger Investors Less Certain: Vanguard Study (Oct 15, 2024)

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

Selling a car through online marketplaces isn’t new. It’s a go-to way for people to squeeze a little extra cash out of their used ride. But what most sellers don’t think twice about is who’s driving off with their keys — and maybe they should.

On May 31, Tania Leija sold her black 2013 BMW on Facebook Marketplace. Not long after, dashcam footage captured a man stepping out of that same BMW and firing multiple rounds outside Houston’s Galleria.

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Police told ABC 13 Eyewitness News that Leija isn’t a suspect — she no longer owns the car — but that didn’t stop strangers from tracking her down through the license plate. Worse, she started receiving threatening calls from a blocked number about the incident.

Here’s how it all spiraled out of control — and what Leija could have done to protect herself before handing over the keys.

A quick sale but costly oversight

When Leija finally found a buyer, she says he wasted no time. The man showed up almost immediately with another person and a backpack stuffed with $3,500 in cash.

"As soon as I told him that he could come, he was on his way," she said.

Leija admitted she skipped some key paperwork. Instead of drafting a formal bill of sale, she signed over the title and trusted the buyer to handle the rest.

"I had my title, I filled out my part, put my name, signed it, and then gave it over to him, and he said he would fill out his part," she said.

But Leija had no way of knowing whether the buyer ever completed the transfer with the Texas DMV — leaving her name still tied to the car when things went south. According to the DMV, both buyers and sellers should complete Form 130-U to officially transfer ownership and ensure the paperwork is filed.

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

How to make your next sale safer

Although this deal took a dangerous turn, Leija said it was her first time selling a car and she skipped some steps that could’ve kept things safer. If you’re planning to sell a car online, here’s how to make sure your sale doesn’t go off the rails:

• Vet buyers first: Before agreeing to meet, screen potential buyers by phone. It helps you figure out if they’re serious, whether they’ve got financing in place and gives you a chance to answer questions. If someone pushes for a fast sale and skips this step, take it as a red flag.

• Be smart about the test drive: Once you’re comfortable, meet in a busy public place and bring a friend or family member. Always check the buyer’s driver’s license before letting them get behind the wheel.

• Keep the transaction safe: Talk about payment methods ahead of time. Avoid unusual requests like driving someone to a bank or loan office. Don’t meet at your home — choose a safe, public location. Keep the title out of sight until you’re ready to sign, and use secure payment options. Apps like Zelle or Venmo can work for smaller amounts, but be aware of transfer limits.

• Nail the paperwork: Fully complete the title with the sale price, date and odometer reading — and keep a copy. Most states also require a bill of sale and a release of liability form to protect you if the new owner racks up tickets. Don’t forget to file that release with your DMV. Alan Helfman, who owns multiple car dealerships, strongly recommends that sellers go the extra mile and accompany the buyer to the DMV to make sure the paperwork gets filed properly.

• Complete the title transfer: Check your state’s rules before closing the deal. Typically, the seller signs over the title and the buyer registers the car and pays state taxes or transfer fees at the DMV or tag office. Some states also require a recent smog check or inspection certificate, so be sure to have that ready.

What to read next

• 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
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead

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

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

As the summer heat kicks in, nothing’s more refreshing than grabbing a cold bottle of water while you’re stuck in traffic. But for some Atlanta drivers, that quick sip has turned into a costly scam draining wallets faster than you can say “Cash App."

So-called water boys — teens who hustle bottled water to passing cars — have been accused of using Cash App to take much more than just a few bucks. Two victims report losing over $1,000 each after believing they were simply being generous.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now

Tristen Richardson said her $2 water turned into an unexpected $1,100 charge after she handed her phone over so the seller could “type in the right username.”

"My heart sank because I was like, oh my God, that’s like a big chunk of money," she told Fox 5 Atlanta.

She’s not alone, but your thirst doesn’t have to drain your wallet. Here’s how to avoid falling for the trick and keep your summer spending chill.

A costly lesson for drivers

It’s easy to hand over a few dollars to someone selling bottled water on a sweltering day, but Richardson isn’t the only kind-hearted driver who ended up paying far more than expected.

Earlier this month, Fox 5 Atlanta reported a similar incident involving a QR code, showing scammers are getting more creative by the day. In that case, a woman who asked to remain anonymous said she lost $800 after a group of water boys off Interstate 20 and Joseph E. Lowery Boulevard offered her a QR code when she didn’t have cash on hand.

She intended to tip them $5, but after scanning the code with her phone, $800 vanished from her account without her confirming the amount, entering a PIN or using a fingerprint verification.

"Cash App usually has three methods of verification before any money is sent," she told FOX 5. "None of those three verification methods were utilized. They were all bypassed and $800 just taken out."

It’s unclear how the verification steps were skipped, but experts say scam apps and spoofed links can trick devices into authorizing payments.

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

Trust your gut

Most victims say they just wanted to help. They assumed the teens selling water were legit. But experts warn these incidents are part of a growing trend that’s catching unsuspecting Good Samaritans off guard.

Rajiv Garg, a professor of information systems and operations management at Emory University, said phishing scams using QR codes are on the rise as more people rely on digital payments.

"If you don’t see where this QR code is leading you to, it could be a scam," he told Fox 5, adding that the best way to avoid these scams is to learn and follow best practices for online transactions.

If you want to stay safe, here are a few tips: never hand over your phone, no matter how trustworthy someone seems. If you prefer to pay digitally, open your payment app yourself and manually enter the amount and username. And skip scanning random QR codes on the spot.

For peace of mind, keep a few small bills in your glove box. It’s old-school, but it keeps your account details out of the wrong hands. While you’re at it, check your app’s security settings. Enable PIN or fingerprint verification for every transaction. It only takes a few taps, but it can block scammers fast.

Above all, trust your instincts. If someone seems pushy or tries to rush you into paying, roll up your window and drive on. That’s Richardson’s new rule.

"If you’re in Atlanta and you pass by the water boys, I wouldn’t even press my finger on the roll-down window button," she said. "Don’t even bother."

What to read next

• 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
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead

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

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

It’s easy to fall for the charm and potential of a place like Minden, Louisiana — just ask Sara McDaniel.

In 2020, she came across an opportunity to purchase an eight-unit, villa-style apartment complex that had been abandoned for nearly 40 years. By then, McDaniel was no stranger to real estate; she already owned over 20 properties, ranging from short-term rentals to vacant land.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now

“The villas weren’t my first rodeo with abandoned properties,” McDaniel told CNBC Make It. “But this project really pushed my skill set.”

In 2021, she purchased what would become The Villas at Spanish Court for $51,306, using her savings to pay for it. But was dipping into her savings to invest in a long-neglected property really worth it?

Falling for potential

McDaniel wasn’t just chasing financial freedom — she was sprinting toward it. As a devotee of the Financial Independence, Retire Early (FIRE) movement, she embraced extreme saving and strategic investing to achieve early retirement. The premise is to save aggressively, invest wisely and eventually live off small withdrawals from a carefully built portfolio — typically around 3% to 4% — or supplement with part-time work.

For McDaniel, real estate was her golden ticket. In her early 30s, she started saving nearly 50% of her income to build a life of freedom and flexibility.

“I was very confident when we closed the deal. But it wasn’t long thereafter that I literally started having panic attacks wondering, ‘What in the world did I get myself into?’” McDaniel admitted. While real estate can be a smart path to financial independence, it’s not exactly a fairy tale. Market shifts and unforeseen expenses can turn a dream investment into a cautionary tale.

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

An unexpected surprise

What seemed like a promising investment quickly turned into a financial nightmare. The charm of the apartments faded fast when ceilings began caving in and bullet holes in the windows hinted at deeper structural and safety issues.

Only after closing the deal did McDaniel realize she had skipped a crucial step — an environmental hazard assessment. To bring the properties up to livable standards, she had to pour in far more money than she’d planned. She sold another investment property for $175,364, added $8,000 from other income streams, secured a $202,725 interim construction loan and took out a permanent mortgage of $290,710.

When the villas were fully restored 18 months later, the total cost had ballooned to $729,885.

McDaniel’s experience highlights a hard truth about real estate investing: what looks like a great deal can quickly become a financial drain. Rushing into an investment without fully evaluating the risks can end up costing far more than the purchase price.

Despite the setbacks, by 2024, the villas were fully booked for approximately 1,300 nights at an average rate of $143 per night, generating a total revenue of $224,133 for the year.

Getting into the market

Real estate can be a great investment, but not everyone wants to deal with renovations, maintenance or surprise expenses that eat into profits. Fortunately, there are ways to tap into the market without purchasing a property outright.

One option is investing in fractional shares of vacation and rental properties, sometimes for as little as $100. This allows investors to gain exposure to real estate without the overhead costs or financial risks associated with full ownership.

For those looking to make a larger investment, commercial real estate can offer strong returns. According to Nolo, commercial properties typically yield an annual return of 6% to 12% of the purchase price, making them an attractive option for portfolio diversification.

What to read next

• 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
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead

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

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

There’s missing a flight, and then there’s missing every flight because your airline just went bankrupt.

That’s what happened to hundreds of travelers this week when Silver Airways, a Florida-based regional carrier, abruptly announced it was ceasing operations effective immediately.

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• Robert Kiyosaki warns of a ‘Greater Depression’ coming to the US — with millions of Americans going poor. But he says these 2 ‘easy-money’ assets will bring in ‘great wealth’. How to get in now

Passengers flying between Florida, the Bahamas and the Caribbean were left at airports with no warning, no alternative flight plans and no customer service reps in sight.

“We regret to inform you that we are ceasing operations as of today, June 11, 2025,” the airline posted on Instagram. "Please do not go to the airport."

The bankruptcy came with zero notice and even fewer answers, raising questions for customers who already paid for tickets. Here’s what led to the airline’s sudden nosedive — and what to do if your summer vacation just hit major turbulence.

What went wrong?

Silver Airways has officially flown its last mile. Roughly five months after filing for Chapter 11 bankruptcy, the Florida-based airline grounded all flights — and not because of stormy weather.

In a recent statement, the company revealed it had sold its assets to another airline holding company as part of a restructuring effort. But instead of reviving the brand, the new owner decided to ground all operations.

“In an attempt to restructure in bankruptcy, Silver entered into a transaction to sell its assets to another airline holding company, who unfortunately has determined to not continue Silver’s flight operations,” the airline wrote in a statement.

Silver had hoped the bankruptcy would help secure new capital and offer a path toward financial recovery. Instead, the collapse has left travelers stranded and staff without jobs — a costly detour for everyone involved.

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

What about the travelers?

If you’re one of the many people left grounded by Silver’s sudden shutdown, don’t expect a refund from the airline itself. In its final Instagram post, the company made it clear that customers won’t be reimbursed directly.

But all hope isn’t lost.

According to the U.S. Department of Transportation, you might be able to recover your money depending on how you paid. If you bought your ticket with a credit card, you can file a dispute with your card issuer under the Fair Credit Billing Act.

Be sure to include a copy of your ticket and receipt, and clearly explain that the airline has ceased operations and failed to deliver the service you paid for.

Just don’t wait too long. You typically have 60 days from the date your statement was issued — the one that includes the airfare charge — to file the dispute.

If you booked through a travel agent or third-party site, it’s worth reaching out to see if they can help secure a refund or offer any alternatives. Some agencies have extra protections or recourse built into their services.

What to read next

• 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
• Here are 5 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Rich, young Americans are ditching the stormy stock market — here are the alternative assets they’re banking on instead

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

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

A new federal lawsuit is targeting California’s labor rules, and the state’s Vietnamese-American nail technicians are at the center of the fight.

Filed at the U.S. District Court for the Central District of California in Santa Ana, the lawsuit argues that a 2020 law, Assembly Bill 5, stripped nail technicians of their right to work as independent contractors, which violates the 14th Amendment’s promise of equal protection.

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The change has shaken up an industry with many immigrant employees from Vietnam. That industry also generates about $3 billion a year, according to the Pro Nails Association.

Representative of Little Saigon, California Assemblyman Tri Ta (R-Westminster), confirmed fear and frustration are flooding his office, and it’s impossible to ignore.

"Their lives have turned upside down overnight," Ta said at a news conference. "It is not just unfair, it is discrimination."

While some are critical of the law, which has turned their livelihoods upside down, labor advocates argue it’s a step toward ensuring a workforce that is often overlooked and underpaid, earns fair, stable wages.

More rules, more costs

In 2019, California passed Assembly Bill 5, a law that redefined how companies classify workers. The law stemmed from a 2018 Supreme Court ruling against Dynamex Operations West, which had misclassified delivery drivers as independent contractors to cut costs. The assembly bill established ground rules for who can be an independent contractor.

Under the new law, workers must meet three conditions to be classified as contractors. These include working independently, performing tasks outside the company’s core business and offering their services to other clients. If not, they must be treated as employees, with protections including minimum wage, overtime pay, workers’ compensation and unemployment insurance.

For nail salon owners, this shift isn’t in their favor. An Tran, who owns two Happy Nails & Spa franchises, is taking the state to court, arguing the rules impede how salons operate day-to-day. Turning contractors into full-time employees means higher payroll costs, higher insurance and tighter margins for owners, who also deal with overhead costs such as rent and supplies.

"We don’t have customers all the time. That’s going to cost us a lot more to pay them for the downtime when they don’t have any customers," Tran told the LA Times.

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A community under fire

This fight is also about community. Many Vietnamese refugees turned to nail salons in the late 1970s as a way to rebuild their lives in America. Decades later, that legacy endures. More than 82% of California nail technicians are Vietnamese, and about 85% are women, according to the lawsuit.

“Vietnamese American manicurists have faced blatant discrimination under California’s labor laws, stripped of the same rights and freedoms afforded to others in their industry,” Scott Wellman, attorney for the plaintiffs, said in a statement to KTLA 5. “If the State of California refuses to fix this injustice, we are prepared to hold them accountable in federal court.”

Worker advocates add that the lawsuit highlights deeper issues of exploitation across the industry. A UCLA Labor Center report found nearly 80% of nail salon workers earn pay at or below two-thirds of the median full-time wage, more than double the national low-wage rate for all workers. Beyond low wages, many salons are reportedly concerned about health and safety conditions as well.

Former nail technician Pabitra Dash confirmed those risks firsthand. She and her husband struggled with miscarriages while she was working in the salon industry. Once she quit, she was finally able to carry her baby to term. While her doctor never pinned the miscarriages on the chemicals she used at her job, Dash said she and her husband felt relieved they had a child after she left.

“(My doctor) said, ‘It’s really good for your health and your baby,’” Dash told NBC News.

Stoicism has been the response of many workers, who are worried that speaking up could cost them shifts or even their jobs.

The federal lawsuit has turned nail salons into the latest flashpoint in California’s struggle to balance gig work with fair labor protections. Salon owners fear that stricter rules might make it harder to keep their doors open, while many technicians quietly worry they’ll lose their employee rights.

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In-N-Out’s red palm trees and “fresh, never frozen” burgers are as California as it gets. Since Harry and Esther Snyder opened the first location in 1948, the family owned chain has built an empire without ever straying far from its West Coast roots.

But now, CEO Lynsi Snyder — the founders’ granddaughter — is packing up her family and part of the business for a move out of state. As In-N-Out ramps up its expansion across the southeast, Snyder says the shift makes sense.

While California will remain the heart of operations, the company is building a second headquarters in Franklin, Tennessee, set to open next year.

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“Most of our stores are still going to be here in California, but it will be wonderful having an office out there, growing out there,” Snyder said in a recent interview on the Relatable podcast.

Palm trees don’t pay the bills

In-N-Out may be expanding, but the move to Tennessee is less about abandoning California and more about adapting to a changing business climate. While the company promises its California roots run deep, plans are already in place to phase out its Irvine headquarters by 2030 — a shift that underscores the growing challenges of doing business in the Golden State.

"There’s a lot of great things about California, but raising a family is not easy here. Doing business is not easy here," Snyder said, echoing a sentiment that’s led to a wave of corporate relocations.

Between 2018 and 2021, more than 350 companies moved their headquarters out of California, according to research by Lee E. Ohanian of the Hoover Institution and Joseph Vranich, a Texas-based business relocation expert. Many were drawn to states with lower taxes, lighter regulations and friendlier business environments — areas where California has failed to compete.

For Snyder, the frustrations go beyond policy.

During the pandemic, state regulations forced the temporary closure of one San Francisco location. And in 2024, In-N-Out closed its Oakland restaurant after 18 years, citing rising crime in the area. The closure was particularly notable as it was the company’s first permanent shutdown in its 77-year history, despite the location still turning a profit.

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Keeping the West Coast identity

In-N-Out’s cult-favorite menu might spark national cravings, especially from eager East Coast fans, but the company remains firm in its commitment to staying regional.

"Florida has begged us and we’re still saying no. East Coast states – we’re still saying no," Snyder said.

That doesn’t mean the burger chain isn’t growing. The majority of employees from its Irvine headquarters will reportedly relocate to Tennessee or move to the company’s Baldwin Park, California, office. The first Tennessee restaurant is set to open in 2026, with plans to roll out 35 locations across the state in the coming years.

The strategy seems to be paying off. The average In-N-Out location generates an estimated $4.5 million in annual sales — nearly double that of a typical McDonald’s at $2.6 million, according to Forbes.

Since taking the reins at In-N-Out, Snyder has doubled down on sustainable growth, staying true to the company’s core values and prioritizing quality over aggressive expansion — a formula that has kept the chain’s loyal fan base as hungry as ever.

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What started as a harmless fluke quickly snowballed into a full-blown logistical nightmare — one cardboard box at a time.

A woman identified only as “Kay” told ABC 7 she has been bombarded by Amazon deliveries for over a year. Boxes keep arriving at her home, even though she never ordered them. They’re addressed to her house but not to her name.

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Despite repeated attempts to return or refuse the deliveries, they keep piling up. At one point, the packages blocked her driveway, front door and even the path for the mail carrier. That made things especially difficult for her 88-year-old mother, who has a disability.

"I couldn’t even get my mother in the house,” Kay told ABC 7. “It’s just been another form of hell," Kay told ABC 7.

The boxes now swallowing half her carport are more than just a minor inconvenience. And if she wants them gone, Amazon says that’s her responsibility.

The company suggested she donate the items, give them away or haul them to USPS or FedEx herself. So, what’s really going on?

Stuck with the bill, and the boxes

Each of the mystery packages contains the same item: faux-leather seat covers shipped from a Chinese seller called “Liusandedian.” The brand operates as Etkin on Amazon, and advertises custom-fit covers for a wide range of cars.

But customers report the seat covers don’t fit at all. And when they try to return them, things get even messier.

Unlike items fulfilled directly by Amazon, third-party sellers that handle their own shipping aren’t bound by Amazon’s standard return policy. Instead, they’re required to offer one of the three options:

• A U.S.-based return address
• A prepaid shipping label
• A full refund without needing to ship the item back

But this seller appears to be skipping those rules, and Kay isn’t the only one caught in the chaos. Complaints are piling up.

"Why haven’t I received my refund? Was sent thru UPS 3 weeks ago," one customer wrote on Amazon.

"It’s going to cost me $124 to return this item!!!" another customer added.

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A pile of boxes later

After more than a year of living in what looked like a stockroom, Kay had had enough. She filed six complaint tickets with Amazon, trying to stop the flood.

Amazon initially denied telling her to haul the boxes to USPS or FedEx, though Kay says she was told when she asked for help.

"Why is it my responsibility to get rid of this, when your seller is not following your rules, Amazon?" she asked.

In response to inquiries from 7 On Your Side, Amazon issued a statement: “We’ve apologized to the customer and are working directly with her to pick-up any packages while taking steps to permanently resolve this issue." And finally, after months of dead ends, Kay got a win. On July 10, Amazon removed the remaining boxes from her property and promised to crack down on sellers abusing the system.

While Kay’s case is rare, it’s a good reminder to be cautious while shopping online. Before buying from an unfamiliar brand, check the seller’s ratings and read customer reviews.

If anything feels off — mismatched product details, sketchy return policies or an unfamiliar brand name — trust your gut and move on. And always confirm whether the item is fulfilled by Amazon or shipped from a third-party seller.

It might just save you from a porch full of regret.

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It’s not every day a stranger insists on handing you a $20 bill you didn’t drop. But for Sarah — whose last name has been withheld, as reported by Fox LA — that’s exactly what happened on an ordinary Wednesday afternoon at a Ralphs grocery store in Van Nuys.

"He came much closer to me and was kind of pushing the $20 into my wallet," Sarah recalled. "I said, ‘No, I don’t think I did.’"

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At first, it could have been a strange but harmless mix-up. That is, until Sarah noticed the man was suddenly joined by a woman — both of them following her to her car, pressing the cash on her with unsettling persistence. What felt like an awkward moment quickly turned into a coordinated scam. When Sarah checked her wallet, her cash was intact, but her debit card was gone.

Within 30 minutes, the thieves had made multiple withdrawals from Sarah and her daughter, Jennifer’s bank account from a Chase branch.

Unfortunately, Sarah and Jennifer aren’t alone. Distraction scams have been popping up across the country. Here’s how to spot the red flags.

Be on the lookout

Distraction scams don’t come with flashing red lights, they come with kindness and confusion. These types of scams are built on flustering you just enough to make you vulnerable. This involves a stranger creating a diversion — like insisting you dropped a $20 bill — while an accomplice steals something like your wallet or debit card.

According to the Federal Trade Commission, Americans lost over $12.5 billion to fraud in 2024, a 25% increase from the year before. While that includes a mix of schemes, distraction scams are rising, especially in places we least expect it like grocery store lines.

"It’s a huge violation," Sarah said. "I feel like I’m looking over my shoulder everywhere I go. It’s just horrible."

Jennifer, Sarah’s daughter, filed a police report and shared the story online — and the responses came flooding in. Dozens of people chimed in with eerily similar experiences, revealing just how widespread the scam really is.

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What you can do to protect yourself

For Jennifer, a teacher with a limited income, falling victim to a scam wasn’t just an inconvenience, it had immediate financial consequences. "My money is gone, and I had just gotten paid," she told Fox LA. As living expenses continue to rise, incidents like this can disrupt far more than a day’s routine.

And yet, that’s why scams like these are so effective, often appearing as benign interactions. “You need to understand the hallmarks of most scams: They contact you first, dangle some sort of bait in front of you and create a sense of urgency,” Jason Zirkle, training director at the Association of Certified Fraud Examiners, told Nerd Wallet.

Remaining aware of your surroundings is key. Trusting your instincts, keeping personal belongings securely fastened and not hesitating to report suspicious behavior — whether to a store manager or law enforcement — can serve as your first line of defense.

And if you do find yourself in Sarah and Jennifer’s position, it’s important to take action. The first step is to contact your bank or card issuer immediately to freeze the account to prevent further transactions. Most banks offer 24/7 fraud hotlines and mobile app features to lock your card with just a tap. Next, file a fraud report with your financial institution so they can begin investigating the unauthorized charges. This also increases your chances of recovering any lost funds.

Be sure to file a police report as well, which not only helps authorities track patterns of criminal activity but may also be required by your bank for reimbursement.

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