Author: Vishesh Raisinghani

The Great Wealth Transfer currently underway isn’t a solution for wealth inequality.

Instead, it’s likely to fuel a rising “dynasty” of young people with too much money and too little motivation to work, according to NYU professor Scott Galloway.

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“When you go to nice hotels, there are people in their 50s and 60s and you can tell it’s probably their money — and then there’s a whole raft of a younger generation with their parents’ credit cards,” says the entrepreneur and investor on a recent episode of his Prof G podcast. “What you have with dynastic wealth is you’re taking capital that should go back into the ecosystem and just creating these dynasties of unproductive, rich people.”

There are growing signs that the wealth gap could worsen as the transfer of assets from baby boomers to their children and grandchildren gains momentum.

However, Galloway believes there is some “good news” for younger Americans from modest-income families and a potential solution to the problem.

The good news

Baby boomers in America are expected to pass on between $70 trillion and $90 trillion in assets to their offspring, according to Cerulli Associates.

“The average age of the world’s billionaires is almost 69 right now. So this whole transition or wealth handover will start to accelerate,” said John Mathews, head of UBS’ Private Wealth Management division, in an interview with CNBC.

However, this massive wealth transfer isn’t distributed evenly across younger generations. A 2023 study published in the American Journal of Sociology found that the average 35-year-old millennial holds less wealth than the average boomer at the same age, but the top 10% of wealthiest millennials have 20% more wealth than the top 10% of boomers.

In other words, a growing intergenerational wealth divide emerging, and it’s likely to accelerate in the coming years.

However, Galloway says his time teaching at an Ivy League university has given him reason to be hopeful: “I know a lot of rich kids and I know a lot of kids who are not rich — and the levels of happiness are not greater among the rich kids.”

To him, that’s “good news” for young people trying to build wealth independently and find fulfilling careers. It’s also a wake-up call for policymakers looking to tackle the growing wealth gap.

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

The $10 million solution

Galloway’s proposed fix for the widening wealth gap is what he calls “an exceptional inheritance tax.”

“Inheriting more than say $10 million bucks doesn’t increase the happiness of your kids,” he says, suggesting that lawmakers implement a significant inheritance tax above that threshold.

His recommendation isn’t far off from the current tax structure. For the 2025 tax year, estates worth more than $13.99 million are subject to a federal estate tax, according to the Internal Revenue Service (IRS).

The tax rate ranges from 18% to 40%, depending on the estate’s size, according to SmartAsset. Beneficiaries may also face additional estate and inheritance taxes on the state level, depending on where they live.

Still, there may be room to raise those rates. Japan currently has the highest inheritance tax in the developed world at 55%, followed by South Korea at 50%, according to PwC.

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

At the height of his career, Cam Newton, former NFL MVP and Carolina Panthers quarterback, says he was earning roughly $20 million a year. However, in a recent video on his YouTube channel, Newton confessed that he was making online content “to keep the lights on.”

Newton’s candid admission pulls back the curtain on a common struggle retired athletes face: managing money once the big paychecks stop.

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He points to his own situation as “the No. 1 reason” why so many wealthy players end up broke — their failure to scale back spending when their income takes a hit.

Here’s how untamed expenses can gobble up even eight-figure salaries.

Lifestyle creep

Unlike the stereotypical professional athlete, Newton insists he did a better job managing his money while his career was still active.

“I never really had a financial advisor, but I never really was a splurger either — still to this day,” the 36-year-old says.

Although federal and state income taxes reduced his take-home pay to roughly $12 million a year, Newton estimates his annual expenses were between $5 and $6 million — leaving some room for savings and investments.

However, he says many athletes fail to acknowledge the fact that their income is temporary, while their lifestyle is permanent.

Although he’s no longer making eight figures a year, he says his expenses have stayed more or less the same, with private schools, home maintenance, alimony and luxury purchases draining his savings.

“Those things never leave,” he says. “Your overhead never really changes. Your income changes, but your expenses have to change with it.”

Unfortunately, most Americans expect their expenses to change more than their income. According to the latest Survey of Consumer Expectations from the Federal Reserve Bank of New York, consumers expect their household income to rise just 2.7% in the year ahead, while expenses are expected to rise 5%.

This rapid lifestyle inflation is one of the key reasons why even high-income families are struggling financially. Roughly 36% of consumers who earned $200,000 or more a year were living paycheck to paycheck, according to a PYMNTS survey. Meanwhile, a Bankrate survey found that 13% of American consumers had no emergency savings and 1 in 3 had more credit card debt than emergency savings.

Simply put, most people are vulnerable to a sudden income shock. They’re just a couple missed paychecks away from being broke. The only way to avoid this trap is to keep a tight lid on expenses, according to Newton.

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Limiting expenses

Avoiding lifestyle inflation and keeping expenses as low as possible is the key to financial security, according to Newton.

“You can live a couple years like a king or, with the right money decisions, you can live the rest of your life like a prince,” he says.

A great way to live within your means is to buy a house that is well within your budget. Nearly 11% of homebuyers exceeded their budget while purchasing their home, according to Clever Real Estate, while 39% exceeded their budget for upfront costs. By avoiding this, you can reduce a major recurring expense for your household.

Another lifestyle adjustment to help live within your means is to switch from credit cards and debt to cash and debit cards. Nearly 31% of American consumers are expected to go into debt to finance their discretionary spending on vacations, dining out and live entertainment this year, according to Bankrate.

If you can’t afford those concert tickets or Euro trip, skip it instead of financing it with debt.

“I’ve always learned it’s better to be able to afford it and not have it, rather than to have it and not afford it,” Newton says.

These adjustments can limit your lifestyle inflation and help keep you better prepared for a sudden income shock.

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

Bill Gates is widely known as the billionaire who co-founded Microsoft, but one of the other factors that has contributed to his wealth is his pragmatic, relatively-conservative investment strategy.

For example, take the Bill & Melinda Gates Foundation Trust portfolio. Its investments include stakes in railways, waste management and fast food restaurants, which are considered relatively low-risk investments compared to other offerings. Gates is also the owner of nearly 270,000 acres of farmland across the U.S., according to The Associated Press.

However, one asset class that you won’t find in his well-diversified portfolio is cryptocurrency. In fact, the billionaire has long been a vocal critic of digital currencies.

"There are people with high I.Q.s who have fooled themselves on that one," the 69-year-old shared with The New York Times in a recent interview.

Here’s why the tech entrepreneur isn’t a fan of this digital asset class.

Crypto is too risky

Gates’ skepticism of Bitcoin and other crypto assets isn’t a recent phenomenon. Back in 2021, the tech billionaire said he wasn’t a fan of the asset because of its volatility.

“I do think that people get bought into these manias who maybe don’t have as much money to spare. So I’m not bullish on Bitcoin,” Gates shared with Bloomberg. He suggested that the unpredictable fluctuations in Bitcoin’s market price made it a better fit for those who were already financially secure, such as fellow billionaire Elon Musk.

“Elon has tons of money and he’s very sophisticated so I don’t worry that his Bitcoin will randomly go up or down,” Gates added. “My general thought would be that if you have less money than Elon then you should probably watch out.”

According to BlackRock’s calculations, Bitcoin is 3.9 and 4.6 times more volatile than gold and global equities, respectively. This volatility is clear to anyone who has seen a recent price chart of the asset — each Bitcoin traded at just USD$42,000 at the start of 2024 before hitting USD$106,000 by December, and then dropping back to USD$85,000 as of February, 2025.

For some, these wild ups and downs suggest the crypto asset class is still speculative, which makes it unsuitable for risk-averse investors. However, for someone with an appetite for risk, there is a way to add cryptocurrency exposure without compromising your overall portfolio.

Small speculative bets

Not all wealthy investors are as cautious as Gates, but even the most adventurous ones understand the need for a strategic approach with robust guardrails for their risky ventures.

Billionaire Mark Cuban, for instance, has been a fan of cryptocurrencies for several years. In 2017, he shared his approach to high-risk bets with Vanity Fair. “If you’re a true adventurer and you really want to throw the Hail Mary, you might take 10% and put it in Bitcoin or Ethereum,” he said. “But if you do that you’ve got to pretend you’ve already lost your money.”

Since the value of Bitcoin is up 1,300% since that interview aired, the potential upside may have justified the risk of losing 10% of your portfolio.

Musk seems to have taken a similar approach. As of 2025, there are 11,509 BTC on Tesla’s balance sheet collectively worth less than USD$1 billion — a fraction of the company’s market capitalization and Musk’s personal net worth.

With this in mind, investors with an appetite for risk and sizable investments in other secure assets can consider putting a small fraction of their portfolio in relatively risky (but fun) assets like cryptocurrencies.

Sources

1. DATAROMA: Bill & Melinda Gates Foundation Trust (Dec 31, 2024)

2. The Associated Press: Bill Gates owns a lot of American farmland, but not the majority by Philip Marcelo (May 2, 2022)

3. Daily Mail: Bill Gates’ withering assessment on wildly popular investment: ‘People with high IQs have fooled themselves’ by Tilly Armstrong (Feb 3, 2025)

4. Indy100: Bill Gates urges people not to make one hugely popular investment by Sinead Butler (Feb 4, 2025)

5. iShares: Bitcoin volatility guide: Trends & insights for investors by Jay Jacobs (July 11, 2024)

6. CoinMarketCap: Bitcoin price today

7. YouTube: Mark Cuban’s Guide to Getting Rich | Vanity Fair (Oct 8, 2017)

8. Bitcoin Treasuries: Bitcoin Treasuries

This article Bill Gates claims ‘people with high IQs’ have ‘fooled themselves’ with this 1 wildly popular investment — says Elon Musk can handle it, but too risky if you’re not rich. Do you own it?originally appeared on Money.ca

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

As the changes to Social Security continue, some older Americans may find themselves having to play catch-up.

In March, President Donald Trump signed an executive order to stop issuing paper checks by September 30 and instead use direct deposit, prepaid cards or other digital payment options.

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This move might seem inconsequential, but it impacts nearly half a million seniors nationwide. While the White House is determined to modernize the system, many retirees have yet to fully adopt new technologies, putting them at risk of missing essential benefits.

According to the Social Security Administration (SSA), 485,766 beneficiaries received their monthly Social Security payments via physical check in April.

With that in mind, here are the top five states where seniors are most exposed to this sudden change.

Where the end of paper checks will be felt most

There isn’t a state in the union that doesn’t have someone who still receives their benefits via the post. However, some states expect to weather the change better than others.

For instance, in the District of Columbia, only 789 retirees received physical checks for Social Security in April. In North Dakota and Wyoming, that number is less than 940. Most seniors who rely on a more traditional form of payment live in one of the largest states or overseas territories.

In U.S. territories such as Puerto Rico, approximately 6,785 individuals still receive their Social Security benefits through physical checks each month, rather than through direct deposit.

Among the 50 states, California stands out with the highest number of residents still relying on paper checks for their monthly Social Security payments — exactly 51,649 people. Texas is a distant second with 35,504 recipients, while New York ranks third with 30,676 individuals.

Despite the widespread push toward digital payments, tens of thousands of Americans remain dependent on traditional check delivery. Florida, often regarded as a top retirement destination for older Americans, is home to many seniors who still receive paper checks. According to SSA data, 30,016 Floridians continue to have their monthly payments delivered by mail.

Finally, Ohio rounds out the top 5 with 19,769 Americans still preferring paper to digital payments.

Still, many of these seniors may struggle to pivot to the Trump administration’s change in policy to online payments.

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Barriers to modernization

According to 2024 data from the Pew Research Center, roughly 10% of U.S. adults over 65 do not have an internet connection, which places them at a disadvantage.

Although Trump’s executive order offers an exemption for individuals who do not have access to banking services or electronic payment systems, many seniors may not qualify for this exemption before the September deadline.

Recent cuts to the SSA have seen field offices shuttered and staff reduced. That means beneficiaries who do not have internet or have mobility issues may have trouble connecting to the agency in person or by phone.

Those impacted by the policy change are encouraged to call or visit the SSA to ensure their benefit payments are not disrupted.

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

Jeremy from Seattle, Washington, believes his recent purchase of a recreational four-wheeler was a “dumb decision.”

Speaking with finance guru Dave Ramsey on a recent episode of The Ramsey Show, the young man said his new “toy” is irritating his parents-in-law because they want him to focus on repaying $80,000 he borrowed from them to buy a manufactured home that sits on their property.

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Ramsey quickly pointed out that purchasing the four-wheeler isn’t his biggest mistake: “You have a $80K trailer and you don’t own the dirt? Oh god, wow,” he said. “You guys have made a colossal mess.”

“You’re playing Russian Roulette and there’s three bullets in the gun — not one,” Ramsey said.

He offers three reasons why Jeremy’s deal with his family is a brewing financial disaster.

1. Leaving collateral on “someone else’s dirt”

Jeremy’s housing situation is precarious because he doesn’t have control over the land on which his home sits.

Millions of Americans live in manufactured homes across the country, according to the Pew Charitable Trust, and 35% of those who financed their purchase have a “home only loan.”

That means they owe money on something that almost always depreciates in value compared to a house. And on top of that, they lack control or ownership over the land, which is typically an appreciating asset.

“You do not have control of the situation,” Ramsey explained to Jeremy. He points out that if anything were to happen — like say the in-laws were to cause a car accident and face a lawsuit as a result — the dirt under their trailer could be taken from them.

“They have no control over that and you have no control over that. So you have set yourself up. And I’ve seen this a thousand times in 30 years of doing what I do — not owning the dirt under your trailer is a massive mistake.”

2. Pitfalls of borrowing from friends and family

Jeremy’s situation is exacerbated by the fact that his loan was borrowed from his family.

Nearly 37% of recent homebuyers in the U.S. financed their purchase with some financial assistance from their parents or grandparents, whether that be co-buying, gifting them the deposit or allowing them to live rent free to save up for the purchase, according to Compare the Market.

However, a study published in the Journal of Consumer Psychology found that borrowing money from loved ones complicates the relationship and can lead to feelings of animosity.

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Jeremy is certainly feeling the strain in his relationship with his in-laws, which is why Ramsey recommends getting out of the deal. He wants Jeremy and his wife to sell the manufactured home (even if they’re to take a loss on it), repay their debt and start over renting somewhere else.

“Borrowing 80,000 from your in-laws for anything for any reason is a massive mistake,” says the finance guru.

3. Setting clear boundaries in every deal

Unwinding Jeremy’s messy housing and financial situation could take some time. In the interim, Ramsey recommends having an open conversation with his in-laws to set clear expectations and boundaries.

“You just sit down and say, ‘I thought our deal was I pay you monthly payments and you’re happy but now it’s I pay you monthly payments and I have to check with you before I buy anything and that’s not a deal I’m okay,” he recommended.

Getting on the same page should help stabilize the relationship. While Ramsey doesn’t agree the in-laws were right about their indignation that Jeremy chose to indulge in a $6,000 toy as long as Jeremy was upholding his end of the deal, he does point out he put himself in this precarious position.

Ramsey’s cohost Ken Coleman then piped up to offer Jeremy some “salve” after Ramsey’s scorching advice.

“Walk away from this to realize it could have got a lot worse, and this thing can get nastier if you don’t fix it now. And I could not say that enough. You can dig out of this but I would start digging quickly.”

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

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

The U.S. car market faces a perfect storm that is rapidly engulfing ordinary car owners across the country. The clearest sign of this is the rising rate of auto loan borrowers who are falling behind on their monthly payments.

As of January this year, 6.6% of subprime auto borrowers were at least 60 days past due on their loans, according to a report by Fitch Ratings.

This is the highest rate since Fitch started collecting this data in the early 1990s. And things are not expected to get better. The report says the subprime segment of the auto loan market faces a “deteriorating outlook” for the rest of 2025.

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This is alarming given the size of the auto loan market. As of the first quarter of 2025, households collectively held $1.64 trillion in auto loan debt, according to the New York Federal Reserve.

Not only is that larger than the outstanding student loan balance but it’s also the largest source of non-housing debt for all households in aggregate.

Here’s how our cars transformed from symbols of freedom to symbols of unsustainable toxic debt.

How did we get here?

The foundation of today’s crisis was laid five years ago during the pandemic. Supply chain disruptions and factory closures at the time created strange dynamics that pushed car prices higher.

In January 2022, 80% of new car buyers paid more than manufacturer’s suggested retail price, or MSRP, according to Edmunds. Used car prices were rising faster than new car prices at the time, according to Cox Automotive.

In other words, car buyers paid too much for their cars. Now, values have declined while many owners have seen a steady rise in interest rates. This shift has pushed many car owners underwater on their purchase.

In fact, 1 in 5 vehicle trade-ins near the end of last year had negative equity of $10,000 or more, according to Edmunds. The situation is grim and the outlook is just as bleak.

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What comes next?

While the auto market is dealing with rising interest rates and dropping prices, it’s now also facing the additional challenge of President Donald Trump’s trade war.

Roughly 50% of the cars Americans purchased in 2024 were imported from other countries, usually Canada, Mexico, Japan and the EU, according to the Trump administration.

Even domestic car makers rely on auto parts from other countries, which is why the administration recently stepped in to offer some rebates to domestic producers.

Nonetheless, vehicles and auto parts currently face a 25% tariff. As a result, most cars under the price of $40,000 could see a price hike of roughly $6,000, according to Kelley Blue Book.

Since the price hike comes at a time when consumers are already feeling squeezed, it’s unlikely that manufacturers can pass these costs along to them. Instead, many are cutting costs and reducing their workforce.

Hundreds of General Motors and Stellantis autoworkers have been laid off, whhile Ford, having warned of potential layoffs, recently elimanted 350 softwarre jobs, saying the move was unrelated to tariffs, but "to make sure we are operating efficiently and effectively in a fast-paced and dynamic environment".

Potential car buyers and owners need to prepare for this tough market.

Protect yourself

According to Kelley Blue Book, if you’re looking to buy a new car in this market it’s probably better to do so before the tariff impact trickles down to the price tag.

However, given where interest rates and prices currently are, try to stick to a tight budget while shopping.

Buying a relatively cheap used car or leasing one if you can find a good deal is probably a good idea.

If you’re a car owner struggling with auto loan debt, consider trading it in for a cheaper model to reduce the burden. If you own multiple cars, it might also be a good time to sell one to reduce your loan exposure.

It’s also worth considering refinancing or shopping around for a better auto loan interest rate. Locking in a good deal with attractive terms today could shield you from the volatility that potentially lays ahead in the car market.

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

According to the 2025 Northwestern Mutual Planning & Progress study, the average American now believes they need $1.26 million to retire. That’s $200,000 less than they said they needed last year and nearly the same as the figure quoted in 2022.

The fact that the target hasn’t moved much in the last three years hasn’t made it more accessible, however. The vast majority of U.S. adults are still falling short of this benchmark and are hurtling towards a difficult and uncomfortable retirement. Here’s why, and what you can do to help yourself reach that figure.

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Lack of savings and investments

Although most Americans agree that they need to enter the seven-figure club to retire comfortably, only a small fraction of the population has actually achieved this target.

As of 2024, the U.S. was home to 7.9 million millionaires, according to Capgemini Research. That’s roughly 3% of the country’s total adult population, which means that 97% of Americans haven’t yet reached millionaire status. And keep in mind: that figure includes people of all ages and wealth levels, not just those nearing retirement. Several factors contribute to this shortfall. While some Americans may not prioritize retirement savings, many face barriers that make it difficult to set aside money, including rising housing costs, student loan debt and inflation. Even those who are diligently saving can find it challenging to keep up with the growing cost of a comfortable retirement.

Starting early is key to saving for retirement

Although 97% of people aren’t millionaires, many could meet that target eventually if they start investing at a young enough age.

A 20-year old, for instance, needs to invest just $330 a month into an asset class that delivers a steady 7% annual return to reach $1.26 million by the time they turn 65. Having the luxury of time significantly boosts your chances of becoming a millionaire.

This doesn’t mean it’s too late for middle-aged savers, but it takes a significantly greater investment. If a 50-year-old hasn’t started saving for retirement, they’d need to invest $3,958 a month at a steady 7% return to reach $1.26 million by retirement.

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

The real ‘retire comfortably’ number will be unique to your situation

Saving $1.26 million doesn’t guarantee a comfortable retirement for everyone. For example, if your net worth is $1 million but your annual living expenses are $200,000 or $300,000, you need much more than $1 million in savings to continue living the same lifestyle in retirement.

In fact, two thirds of millionaires don’t consider themselves “wealthy” and half of them say their financial planning needs improvement, according to another study by Northwestern Mutual. In short, being a millionaire doesn’t mean you’re ready for retirement.

If you live in a state or another country with a lower cost of living, your target might be smaller. According to Empower’s calculations of tax burdens and costs of living, states like Alaska and New Hampshire might be ideal for retirees looking to minimize their expenses. Try using a retirement calculator or consulting a financial planner to determine your personal target. With enough time and meticulous planning, you can be on track for almost any type of retirement you might want.

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• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

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For a man who built a media empire out of hot takes and hustle, Dave Portnoy’s biggest money lesson is surprisingly simple: “Once you get it, it’s easy to get a lot more," he told Shannon Sharpe on a recent episode of the Club Shay Shay podcast.

The entrepreneur, who sold his company Barstool Sports to Penn Entertainment for about $500 million only to buy it back for $1 a few years later, says it took him a decade to accumulate his first million. But once he did, making money became significantly easier and he now claims to be able to generate $5 million in a week.

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"Once you get over the hump it just comes [to you]," says the 48-year-old online influencer.

Here’s why wealth creation can accelerate after you hit certain milestones.

The ultra-rich rely on the snowball effect to build wealth

Portnoy is referring to compound growth, a key strategy used by many to grow wealth. The late Charlie Munger often described it as “getting a snowball rolling down a hill.”

The snowball effect helps to explain why wealth creation accelerates once a person has hit certain financial milestones. An investor who starts off with no money and invests $1,000 a month in an asset that generates 10% annual returns would make $100,000 in 6.5 years. But with compound growth, that $100,000 would take just four years to grow to $200,000, and just three more years to reach $300,000.

This is because an investor with $100,000 is earning returns not only on their monthly contributions but also their accumulated wealth.

Put another way, an investor with $100 million in net worth can easily generate $5 million quickly — perhaps within a week — because they would need to earn just 5% on their assets to do so.

In fact, Portnoy admitted during the interview that he once “spent five hours just talking about the interest" he was earning on his cash after he got rich. "I couldn’t believe it, I was making money not doing anything."

This is why your early financial milestones are so critical in your long-term wealth creation journey: the earlier you start investing large amounts of money, the longer it has to grow with the most growth opportunity.

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 set clear targets to build wealth

If you want to reach that tipping point where wealth builds itself, you need a strategy, and that starts with setting smart, achievable goals. Think of your first major milestone, such as $100,000 in assets, as the start of your personal snowball.

However, it’s essential that you consider your age, lifestyle and location while setting financial targets. A 60-year-old in San Francisco may need far more, while a 20-something in Detroit could be ahead of the curve with far less.

Once you’ve got a target, the next step is making sure your money is actually working. Keeping a large sum in a savings account earning a low interest won’t get you anywhere. And stuffing it under your mattress would be even worse. Inflation will eat away at your purchasing power every year.

Instead, build a portfolio that’s designed to grow. That might mean investing in stocks, ETFs, real estate or even alternative assets. The key is finding the right mix of risk and reward for your goals.

If you’re not sure where to start, talk to a financial advisor or planner who can help you set targets, diversify your assets and stay on track. Because once you hit that first big number and let compound growth kick in, you might find your money growing a lot faster than you expected.

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• How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you’ll need a substantial stash of savings in retirement

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

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