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Author: Vishesh Raisinghani

  • Here are the top 8 ‘buyer-repellant’ items you should never have in your home when selling — especially in today’s lousy US market. How many are hurting your bottom line?

    Here are the top 8 ‘buyer-repellant’ items you should never have in your home when selling — especially in today’s lousy US market. How many are hurting your bottom line?

    From a seller’s perspective, the only way to describe the current housing market in the U.S. is lousy. A typical home sits on the market for 40 days on average it’s sold.

    With an estimated 500,000 more sellers than buyers, Redfin reports that home listings are sitting at a five-year high.

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    Simply put, this is a buyer’s market. Home sellers need to go the extra mile to get the best price.

    Here are the top eight ‘buyer repellants’ to avoid if you’re trying to sell your home in 2025.

    Clutter

    Buying a home is an emotional process and you don’t want buyers’ first reaction to be one of disgust. A dirty, cluttered home makes it difficult for them to picture themselves in your property, which ultimately makes it difficult to sell.

    Consider hiring professionals to clean and organize your space before you put it on the market.

    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

    Personal decor

    Potential buyers need to visualize their own lives in your space. This isn’t possible when your walls are covered with deeply personal pictures of you and your family.

    “The first thing I would do is depersonalize and remove personal photos,” celebrity real estate agent Ryan Serhant advised on an episode of The Rachael Ray Show.

    “Your buyer will walk through, they’ll forget to pay attention to the house. They’ll just want to know who lives here. They’re super nosy.”

    Unfixed damage

    Given how pricey homes are to begin with these days, most buyers are exceptionally sensitive to any additional costs involved with buying your home. A potential buyer is likely to notice everything that needs to be fixed and use it to negotiate a lower price.

    This doesn’t mean your home needs expensive renovations. Clever Real Estate recommends that sellers focus on repairs with the highest return on investment, such as garage doors, front doors and minor kitchen remodels or updates.

    Dirty carpets or broken floors

    Potential buyers can be put off by dirty carpets and broken floors. Fortunately, fixing this is relatively inexpensive. According to Angie’s List, the average cost to repair a carpet is $207. This quick fix can go a long way in your staging process.

    Pets

    Pet owners might appreciate signs that your home is big and comfortable enough for a pet, but not every prospective buyer fits this description. Some don’t like cats and dogs or have allergies.

    Serhant advises putting away your pet’s food bowls and “if you have a 65-pound dog, maybe take the dog for a little walk so your person can come in and not see it without any kind of prejudice or allergies,” he added.

    Overpowering scents

    It’s tempting to make your home smell welcoming and pleasant, but it’s difficult to know if your potential buyers are sensitive to any odors. The safest option is to aim for a mild or neutral scent that doesn’t distract the viewer.

    Excess furniture

    Most home listings don’t include the furniture, so minimizing the number of items you leave behind in your listing is probably a good idea. You can work with a professional stager to rearrange or move furniture to make it more appealing for viewers.

    Bold paint colors

    Just like personal photos, bold and vivid colors are a reflection of your personality and are likely to be distracting for any potential buyer. White is a safer option.

    “You want to project like an open canvas,” Serhant says. “You want your buyer to walk through and imagine themselves living there, and you want them to say, ‘Oh, I love these white walls, I could see how my own Star Wars-themed wall would look here.’"

    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.

  • Melinda French Gates refuses to give 22-year-old daughter any money for her shopping business — despite $31 billion net worth. Do you agree with her reason?

    Melinda French Gates refuses to give 22-year-old daughter any money for her shopping business — despite $31 billion net worth. Do you agree with her reason?

    With an estimated net worth of $30.7 billion, Melinda French Gates can easily bankroll her daughter’s business without breaking a sweat. But at a recent summit, the billionaire philanthropist confirmed she is not funding the new venture.

    Gates didn’t say which of her two daughters she was referring to, but 22-year-old Phoebe Gates recently launched Phia, an AI-powered shopping app, according to The Verge.

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    “I wouldn’t put money into it,” Gates told host Amanda Davies at the *Power of Women’s Sports Summit presented by e.l.f. Beauty in London.

    By holding back her financial support, Gates says her daughter gets the chance to test and validate the business idea with real investors and customers. If it’s a “real business,” Gates says, the venture will eventually find people willing to back it.

    Phia has already attracted outside capital. According to GeekWire, the startup has raised $850,000, including $100,000 from Soma Capital, a $250,000 Stanford social entrepreneurship grant and $500,000 from angel investors such as Kris Jenner and Desiree Gruber.

    Phoebe Gates and her co-founder, Sophia Kianni, have also secured a podcast deal to promote the venture. Her journey offers some valuable lessons for anyone looking to start a business.

    Look for real-world traction

    Despite the flashy headlines, most startups fail. Roughly 90% eventually collapse, according to the Founders Forum Group, with 42% failing because they couldn’t meet market demand.

    In other words, the odds are stacked against you, and the most common pitfall is building something nobody wants to pay for.

    To avoid this trap, try to find relatively cheap and quick ways to validate your business idea. Pitch the idea to angel investors or industry experts to see if they would bet real money on the venture’s success.

    Better yet, look for paying customers to validate your business idea before you sink too much of your own money into it.

    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

    Customers are the best source of funding

    According to the Small Business Administration, about 14% of small business owners relied on friends and family for funding in 2023.

    More often, though, entrepreneurs turned to self-funding methods like credit cards or formal channels like banks or government agencies.

    One of the most popular sources of funding was the business itself. Nearly 31% of small business owners relied on the corporation’s earned and retained earnings to fund and grow their ventures. In other words, paying customers can be your best source of startup capital.

    If you’re launching something new, think about how to attract real customers first. For example, you could build a waitlist of clients who have already signalled interest in your product or service. You might also collect early deposits or presale revenue to help fund development.

    Getting those early customers will take time and effort, especially in marketing, but it brings two major benefits: proving there’s real demand and creating early cash flow to support your growth.

    What to read next

    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.

  • ‘You’re going to live on beans and rice’: This senior told Dave Ramsey she has debt and zero savings — here’s his response plus 3 retirement saving tips to get you back on track

    ‘You’re going to live on beans and rice’: This senior told Dave Ramsey she has debt and zero savings — here’s his response plus 3 retirement saving tips to get you back on track

    In a call on an episode of The Ramsey Show, a 73-year old Arizona resident named Robin shared that she has no retirement savings and more than US$12,000 in outstanding student loan debt — but is considering a home purchase within the next three years.

    Host Dave Ramsey then asks, “How would you be able to buy [a house] if you don’t have any money?” Robin says she expects to pay off the student loan this year and is setting aside a modest amount for a down payment every month.

    Ramsey suggests she cash in her insurance policy, pay down her student loan faster and maximize her down payment savings right afterward. “Basically, you’re going to live on beans and rice for the next three years" — in order to avoid running out of money and future choices.

    Robin isn’t alone. According to a 2024 survey by CPP Investments, 61% of Canadians fear they will run out of money in retirement.

    If you’re concerned about being stuck in the same situation, consider these three ways to boost your retirement savings on short notice.

    1. "Live on beans and rice"

    When Ramsey suggests Robin “live on beans and rice” he doesn’t mean it quite so literally, but rather that living a frugal lifestyle and cutting spending where you can can help you boost your savings. So skip the steakhouse dinner and make some pasta at home.

    Of course, spending money is inevitable no matter how frugal you are, and it can be very easy to rack up credit card debt.

    Consider consolidating any high interest debt by taking out a single loan at a lower rate with a lending platform like Loans Canada. Instead of juggling multiple monthly payments, you’ll have one predictable payment to manage each month.

    You can shop for the most competitive interest rates on personal and debt consolidation loans, since Loans Canada specializes in comparing rates offered by different lenders.

    You don’t need a minimum credit score or annual income to receive personalized loan offers.

    After you’ve paid down all your high-interest debt, a high interest savings account can help you grow your savings faster. It often pays to shop around because some banks offer special interest rates for new customers.

    For example, if you open a Simplii Financial high interest savings account (HISA), you can earn 4.25% interest on eligible deposits up to $100,000 for the first four months of having an account.

    If you’re already a client, you can still take advantage of the welcome offer if you’re still within 60 days of opening a Simplii Financial account. Offer ends September 30, 2025.

    Simplii’s HISA does not require a minimum balance and offers easy access to your cash whenever you need it.

    2. Reinvest dividends

    You can boost your passive income by reinvesting it for a short period. A Dividend Reinvestment Plan, or DRIP, can allow you to deploy your regular dividends into acquiring more stock. These programs can expand your nest egg considerably.

    For example, Walgreens Boots Alliance Inc. (WBA) currently offers a 11.03% dividend yield. Implementing the company’s DRIP program could double your capital in nine years, depending on the stock’s performance during that time.

    Platforms like CIBC Investor’s Edge make it easy to invest in dividend stocks and ETFs while enjoying low commissions and no or minimal account maintenance charges, depending on the size of your portfolio.

    Along with access to thousands of ETFs and stocks, a CIBC Investor’s Edge account gives investors access to a library of information to help you make more informed investing decisions.

    Get 100 free online equity trades when you open a CIBC Investor’s Edge account using promo code EDGE100†. Offer ends September 30, 2025.

    3. Tap into insurance

    Some life insurance policies allow you to cash out a certain amount before maturity. If a policy is no longer needed, consider this option to boost your retirement savings — but only as a last resort.

    You may want to consult your tax professional or financial advisor before pulling the trigger.

    Life insurance can help protect your loved ones from unanticipated costs but policies can vary. Some policies pay a portion of the benefit while the policyholder is still alive, which could ease the burden of unexpected expenses in retirement.

    Term insurance is usually a less expensive and more flexible option than whole life coverage. If the insured individual dies during this term, the policy pays a death benefit to the designated beneficiaries.

    Young families and busy professionals looking for fast and affordable insurance can easily connect with PolicyMe and get term life insurance — with no medical exams or blood tests.

    PolicyMe makes finding the best, most affordable life insurance policy simple. All you need to do is fill in some information about yourself, and they will provide you with a free quote in minutes.

    Sources

    1. CPP Investments: 2024 Financial Literacy Month Retirement Survey Results (Oct 2024)

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

  • Mike Rowe warns Americans that the ‘will to work’ is disappearing — says 6.8 million able-bodied men aren’t even looking for a job. Here’s why and what it means for US job market

    Mike Rowe warns Americans that the ‘will to work’ is disappearing — says 6.8 million able-bodied men aren’t even looking for a job. Here’s why and what it means for US job market

    Concerns about a lack of job-ready skills have dominated workforce debates, but Mike Rowe, CEO of the mikeroweWORKS Foundation, is pointing to another crisis: a diminishing desire to work.

    “The skills gap is real, but the will gap is also real,” said the 63-year-old former TV host in a recent interview with Fox Business.

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    According to him, 6.8 million “able-bodied men” are not just unemployed but not even seeking employment. “That’s never happened in peacetime,” he argued.

    Here’s why he believes America’s famous work ethic is gradually eroding.

    Men abandoning the workforce

    Data from the Bureau of Labor Statistics (BLS) shows that women’s participation in the workforce has remained relatively stable since the early-1990s. However, men’s participation has steadily declined, dropping from 86.6% in 1948 to 68% in 2024.

    According to the Bipartisan Policy Center (BPC), the participation rate for men in their prime working years (ages of 25 to 54) has fallen from 98% in September 1954 to 89% in January 2024.

    Notably, 28% of these men said they were not working by choice, validating Rowe’s claim that the desire for employment has diminished. However, the survey also found that 57% of prime-age men cite mental or physical health issues as barriers to working or job-seeking, suggesting that many are not as “able-bodied” as Rowe assumes.

    Additionally, 47% of these men cite a lack of training and education, obsolete skills, or a lacklustre work history as major obstacles to employment. Fortunately, Rowe has a solution for this specific group.

    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

    Solving the crisis

    Expanding opportunities for skills training could help bring some men back into the labor force.

    Through his foundation, Rowe has given away $8.5 million in scholarships since 2008, supporting more than 1,800 men and women enrolled in skilled trades programs across the country.

    “My goal with mikeroweWORKS is not to help the maximum number of people,” he told Fox Business. “It is to help a number of people who comport with our view of the world and are willing to go to where the work is. Who are willing to demonstrate something that looks a lot like work ethic here in 2025.”

    Similarly, the BPC calls for expanding Pell Grant eligibility so that more people can access financial aid. As of 2024, roughly 34% of undergraduate students receive a Pell Grant, according to the Education Data Initiative.

    Expanding workplace support programs could be key to reentering the workforce for men struggling with mental and physical health challenges. More than half of prime-age unemployed men surveyed by BPC said health insurance is a major factor in deciding whether to return to work.

    Other critical benefits include paid sick leave, disability accommodations, flexible schedules and medical leave. Additionally, 40% of respondents said mental health benefits are very important, and 28% said they might have stayed at their previous job if they had access to paid medical leave.

    While these solutions may be complex and expensive, improving male workforce participation could yield significant economic benefits, including lower inflation and higher growth, according to a 2023 study by the Center for American Progress.

    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.

  • Dave Ramsey just issued a blunt reality check to people under 40: ‘If you don’t retire a millionaire, that’s no one’s fault but yours.’ Here’s the math to hit $11,600,000 at 65

    Dave Ramsey just issued a blunt reality check to people under 40: ‘If you don’t retire a millionaire, that’s no one’s fault but yours.’ Here’s the math to hit $11,600,000 at 65

    While the headlines have been dominated by a rollercoaster in the stock market, financial guru Dave Ramsey isn’t going doom and gloom.

    In fact, the radio host believes every young North American has a shot at becoming a millionaire.

    “If you’re under 40 years old and you don’t retire a millionaire, that’s no one’s fault but yours,” the 64-year-old said on X, formerly known as Twitter..

    Here’s a closer look at the math behind his exhortation.

    Everyone can be a millionaire

    Despite the economic challenges facing young Canadians, Ramsey believes that the average 25-year-old needs to save just a fraction of their annual income to retire at 65 with over $1 million.

    However, his thesis assumes that this 25-year-old invests in “good growth stock mutual funds.” According to his calculations, diligently investing just $100 a month into such growth funds could create a $1,176,000 nest egg within 40 years.

    Ramsey doesn’t mention any specific growth funds, but his calculations imply a roughly 12.85% annual growth rate.

    For example, the Vanguard S&P 500 ETF (TSX: VFV) has delivered a compounded annual growth rate of 16.93% since its inception in 2012.

    In fact, the S&P 500 has delivered an average annual return of 10.13% since 1957, according to Investopedia.

    Given the long-term performance of these index funds, Ramsey’s assumption doesn’t seem unreasonable, even when you take into account the recent volatility in the stock market in response to U.S. President Donald Trump’s tariff announcements. There have been many shocks, dips, corrections and outright crashes in the past 100 years, and the market has always eventually bounced back.

    If you want to begin your investing journey but aren’t sure where to begin, Wealthsimple Invest creates a smart investment portfolio tailored to your needs to help you achieve your financial goals.

    With low fees, these expert-managed portfolios are designed to withstand market fluctuations, helping you make the most of your money.

    What’s more, you can automate your monthly contributions through RRSPs and TFSAs, and Wealthsimple takes care of the little things, like asset allocation, rebalancing your portfolio, and reinvesting dividends.

    Wealthsimple’s advisors are fiduciaries — meaning they are legally required to put your financial interests first.

    The best part? You’ll get $25 bonus when you open your first Wealthsimple account and fund at least C$1 within 30 days.

    Ramsey’s path to $11.6 million

    The four variables of the compound growth calculation are time, initial investment, regular investment and growth rate. Of these, the only variable you can somewhat control is regular investment.

    Investing $200 or $300 a month could help you create a nest egg significantly bigger than just $1 million. Ramsey recommends setting the bar even higher at 15% of gross annual income.

    “The average household income in America today is US$79,000. If you invested 15% of that (US$11,850 a year), you would retire with around US$11.6 million,” he said on X.

    The average household income for Canadians is C$70,500. Following Ramsey’s rule, you would need to invest C$10,575 per year to maximize your retirement fund.

    However, most Canadians are saving significantly less than Ramsey’s target. In the third quarter of 2024, the average household savings rate in Canada was 6.10%, down from 7.30% in the third quarter of 2024. The rising cost of living, stagnant wage growth and debt servicing costs are barriers most families face regardless of age.

    One common financial mistake is keeping your money in low-interest savings accounts. High-yield savings accounts can offer returns up to 10 times higher than those from traditional banks, according to NBC Select and Dynata Banking Behaviors.

    If you’re looking for the best bank for your savings, you can open a high-interest savings account with Simplii Financial and earn 4.25% APY on eligible deposits for the first four months. Plus, Simplii Financial charges no account, monthly, or transaction fees.

    Unlike Guaranteed Investment Certificates (GICs), you can access and withdraw funds anytime you want from your Simplii Financial account.

    Leveling up your investments

    Amid the ongoing market volatility and escalating tensions between the U.S. and Canada, it’s crucial to protect your portfolio against risks.

    Diversifying your investments across multiple asset classes — such as stocks, bonds and ETFs — can help you significantly hedge against market risk.

    Opening a discount brokerage account with CIBC Investor’s Edge can help you diversify your portfolio without having to pay exorbitant commissions on trades.

    Plus, you don’t have to pay any account or maintenance fees for RRSPs with a balance of over C$25,000, and TFSAs and non-registered accounts with a balance higher than C$10,000.

    CIBC Investor’s Edge charges a discounted commission rate of C$4.95 per trade for active traders making over 150 trades in a quarter.

    If you open your CIBC Investor’s Edge account before Sept. 30, you can get up to 100 free equity trades and over $200 in cash back.

    Other paths to become a millionaire

    Homeownership can be a key stepping stone to reaching millionaire status by retirement. Once you’ve decided on the kind of house you want to purchase, shop around and compare mortgage rates offered by reputable lenders near you through Loans Canada.

    Here’s how it works: Select the kind of loan you want to get and submit an application, and Loans Canada will sort through its network and display the best possible offers for you.

    Those who want to refinance their existing mortgage can compare refinancing rates offered by leading lenders through Loans Canada.

    Refinancing your home loan through Loans Canada could help you pay off your mortgage early in two ways. By securing a lower interest rate, you can either maintain your current monthly payment while more of it goes toward the principal, or you can opt for a shorter loan term to accelerate your path to homeownership.

    The best part? You can apply for a mortgage or refinance loans even with poor credit — and it’s 100% free.

    Sources

    1. X:@daveramsey

    2. Investopedia:S&P 500 Average Returns and Historical Performance (Dec 26, 2024)

    3. Statistics Canada:Quality of life Indicator

    4. Trading Economics:Canada Household Savings Rate

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

  • Millions of Americans in their 20s are jobless — but are ‘worthless degrees’ and a system of broken promises really to blame? Here’s what’s behind the catastrophic rise of NEETs

    Millions of Americans in their 20s are jobless — but are ‘worthless degrees’ and a system of broken promises really to blame? Here’s what’s behind the catastrophic rise of NEETs

    When many people picture someone aged 16 to 24, they imagine a student buried in books or a young adult starting their first job. But for more than 4.3 million Gen Zers, neither is true — they’re not in school, not working, and increasingly unsure where they fit in.

    That’s according to the latest report by Measure of America, a project of the Social Science Research Council. The study estimates that roughly 10.9% of young U.S. adults are NEET, or "not in Education, Employment, or Training."

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    The report suggests that even a temporary withdrawal from society can have lasting consequences on a young person’s life.

    “It’s associated with lower earnings, less education, worse health, and even less happiness in later adulthood,” the study says.

    With nearly one in ten young people facing this grim future, some are now calling for a redesign of the education system to address the issue.

    Worthless college degrees

    Although college is traditionally seen as the path to building a bright future, political commentator Peter Hitchens argues that this belief no longer holds true.

    “In many cases, young people have been sent off to universities for worthless degrees which have produced nothing for them at all,” said the author in a recent episode of his Alas Vine & Hitchens podcast. “And they would be much better off if they apprenticed to be plumbers or electricians. They would be able to look forward to a much more abundant and satisfying life.”

    Indeed, nearly 52% of job postings in January 2024 did not require a formal college degree, according to Indeed’s Hiring Lab.

    Meanwhile, 39% of firms in blue-collar sectors such as manufacturing and construction said they struggled to find employees in 2024, while 37% said the employees they hired were not suitable for the job, according to Angi.

    This skills gap is likely to persist as young adults still see blue-collar work as less prestigious than white collar professions.

    A Jobber study conducted in 2023 found that 74% of Americans between the ages of 18 and 20 perceive a stigma associated with choosing vocational school over a traditional four-year university.

    Many are willing to go into debt to finance their white-collar ambitions. American households had accumulated $1.61 trillion in total student loan debt to finance some of these degrees, according to the New York Federal Reserve.

    Crippling student debt for degrees that don’t lead to meaningful employment may explain why many young adults are disengaging from society. Fortunately, efforts are underway to turn the tide.

    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

    Plugging the gap and changing perceptions

    Shifting perceptions of blue-collar work and creating clearer pathways into trades and vocational careers could be key to addressing the NEET issue.

    For instance, TV host Mike Rowe is giving away $2.5 million in scholarships this year to support young people pursuing skills training.

    DEWALT, a leading manufacturer of power tools and equipment for construction and industrial use, is investing nearly $4 million through its "Grow the Trades" initiative.

    The funding will be distributed as grants to 166 organizations across the U.S. and Canada that are dedicated to training the next generation of skilled tradespeople, including programs focused on skilling, reskilling and upskilling workers in areas such as carpentry, electrical work, HVAC and more.

    Vocational training is already gaining traction. As of late 2024, 923,000 students had enrolled in a skilled trades school, up 13.6% from the previous year, according to the National Student Clearinghouse. If these trends continue, the skills gap — and the NEET crisis — could be gradually resolved.

    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.

  • US boomers are using this 1 ‘geoarbitrage’ trick to add $100K-plus to their nest eggs — without saving an extra penny. How to do it ASAP before the opportunity closes (and it’s closing fast)

    US boomers are using this 1 ‘geoarbitrage’ trick to add $100K-plus to their nest eggs — without saving an extra penny. How to do it ASAP before the opportunity closes (and it’s closing fast)

    Americans believe they need roughly $1.26 million to retire comfortably, according to Northwestern Mutual.

    But many seniors are rapidly approaching retirement with far less than that figure.

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    In fact, 20% of U.S. adults over the age of 50 have no retirement savings at all and 61% are worried about running out of cash after they stop working, according to the AARP.

    This cash squeeze has pushed some older adults to adopt creative solutions to bolster their retirement income — including geographic arbitrage, or geoarbitrage.

    Geoarbitrage means moving to regions with a lower cost of living while continuing to earn income from higher-cost areas, allowing you to save more or enhance your quality of life.

    Here’s how you could apply this technique to add $100,000 or more to your nest egg.

    Moving could bolster your retirement

    Geoarbitrage is arguably more effective if you’re a homeowner. Selling off your primary residence and moving to a cheaper home in another part of the country could unlock tremendous cash for your retirement.

    Fortunately, 61% of Baby Boomers (those currently aged 60 to 78) own their own home, according to Clever Real Estate.

    Of those, 54% own their primary residence free and clear, which means they don’t have to worry about a mortgage, according to Redfin.

    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

    Tapping into this home equity — by selling and moving out of the city or to a new state — could unlock a huge chunk of cash for retirees.

    Given that the median home sells for $416,000, selling it and moving to a new home that is 25% less expensive could unlock nearly $100,000 in cash for the typical homeowner.

    Geoarbitrage can also work for the 39% of Baby Boomers who don’t own homes. Excluding rent, the cost of living is more than 20% lower in Miami Beach than New York City, according to Numbeo.

    That means you could move to Florida and potentially save tens of thousands every year over the course of your retired life.

    Many are also considering moving to another country to secure a better retirement. According to a recent Harris Poll, nearly 26% of Baby Boomers are contemplating leaving the U.S. in the next two years, and 6% of them are serious about it. A better quality of life and easier retirement are their top priorities.

    However, before you add geoarbitrage to your retirement plan, consider some of the drawbacks and caveats.

    Caveats

    Simply moving to another location may not be a silver bullet for your retirement woes. For instance, in some locations you might be considering geoarbitrage at the same time as most of your neighbors.

    According to Zillow, there is an oversupply of 12.8 million empty-nester homes that are too big and not appealing to younger buyers.

    Many of these are concentrated in cities like Pittsburgh, Buffalo, Cleveland, Detroit and New Orleans. If you live in any of these locations, unlocking your home equity might be more difficult.

    In other words, the window of opportunity for your downsizing plans is rapidly shutting in certain locations.

    The costs of selling and moving should also be considered if geoarbitrage is an element of your retirement plan. Brokerage fees, transport costs and renovations to your new home could all quickly eat into your nest egg.

    You may also want to consider all the downsides and pitfalls of geoarbitrage that go beyond finances.

    For instance, would you truly enjoy living in a state that is cheaper but much further away from your friends and family? Do you want to learn a new language in your senior years? Would you need to make compromises on medical care and assisted living if you decided to move?

    Your time, savings and income are all limited in retirement, which means once you move you might not have much flexibility to reverse this decision. So if you plan to apply this strategy, proceed with caution.

    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.

  • This Vietnam vet, 84, was forced to sell her ‘dream’ retirement home after new owners jacked up monthly costs from $1,395 to $6,500 — how she lost out on $100,000 and a warning to seniors

    This Vietnam vet, 84, was forced to sell her ‘dream’ retirement home after new owners jacked up monthly costs from $1,395 to $6,500 — how she lost out on $100,000 and a warning to seniors

    Many seniors across the country would consider their senior living community a safe haven. But for some, these properties turn out to be money traps right when their personal finances are most fragile.

    Martha Bray, an 84-year-old Vietnam veteran, found herself trapped in such an unfortunate situation.

    After 10 years of living at River Glen of St. Charles, a senior living community near Chicago that she describes as her “dream” home, the property was acquired by two investment companies that swiftly raised rents. She told NBC News that her monthly maintenance surged from $1,395 to $6,500 — a 365% increase.

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    Unable to pay this extortionate rate, Bray ultimately decided to move out and receive only 75% of the $314,000 entry fee she paid to move in. Based on the property’s value at that time, she estimates her total loss at $100,000.

    “I just want people to know not to believe a damn word anybody says,” she told NBC News.

    “Your money is not safe.”

    Indeed, many seniors are exposed to similar risks when they sign up for these seniors communities. Here’s why the industry’s image as a safe haven is looking increasingly shaky.

    Private equity’s invasion

    Factors that make seniors living facilities valuable to many families also make them attractive to investors. Elevated rents, recurring revenue and the nation’s aging population has made this a lucrative asset class for private equity firms.

    According to the American Seniors Housing Association’s (ASHA) annual report on the industry, eight of the 50 largest operators in the U.S. senior housing space were private equity firms in 2024. And at least three had partnerships with real estate investment trusts (REITs).

    Private equity’s influence could expand further in the years ahead. A survey of seniors housing trends by global real estate investment firm JLL, showed that 78% of institutional investors planned to expand their investments in senior care facilities. “Opportunities exist for investors to acquire high-quality real estate at below replacement cost,” says the 2025 report.

    The impact of private equity ownership on residents of these facilities can be “significant and troubling,” according to the Center for Medicare Advocacy.

    According to their analysis, properties taken over by one private equity firm in Iowa received lower overall and health inspection ratings, had fewer nursing staff, faced more abuse citations, incurred higher federal civil monetary penalties, and experienced more payment denials for new admissions

    Put simply, some investment firms may be incentivized to put profits and shareholder returns above the interests of vulnerable seniors. If you or your loved ones live in such facilities or are considering moving in, you should take some steps to protect yourself.

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    Protect yourself and your loved ones

    There are several ways you and your family can reduce the risk of financial damages from seniors living arrangements.

    Before you sign up, make sure you review the contract carefully and consider having the terms reviewed by an experienced lawyer. You should also try to find out which entity owns the property you or a loved one is considering.

    There are minimal disclosure requirements for senior living property transactions, so it’s not easy to find out if a facility is owned by a private equity firm, but the Centers for Medicare & Medicaid Services (CMS) offers some limited information on its website about “affiliated entity performance” that could be helpful.

    The CMS is also advocating for tighter regulations and more disclosures to bring transparency to the industry and help consumers find out who owns the properties they or their loved ones live in.

    Last year, Democratic Senators Ed Markey and Elizabeth Warren introduced the Corporate Crimes Against Health Care Act, which aims to “root out corporate greed and private equity abuse in the health care system.”

    If you believe the industry needs greater transparency and tighter protections, reach out to your local representative to encourage them to support the bill as it makes its way through Congress.

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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 NYC woman left the US for China — and now lives large on just $30,000/year. Here are 4 underrated, overseas spots for struggling Americans to think about

    This NYC woman left the US for China — and now lives large on just $30,000/year. Here are 4 underrated, overseas spots for struggling Americans to think about

    After 10 years of working 70-hour weeks in reality TV production in New York City, Alesse Lightyear says she could feel her youth draining away.

    “I felt like a 50-year-old woman, I was exhausted,” she confessed to CNBC Make It in a video published July 3. The financial compensation for this immense sacrifice was woefully inadequate.

    “I was living check-to-check, which sucked!” she exclaimed.

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    In 2019, Lightyear decided to make a change, not just in her career but also where she lived. She moved to China — first to Beijing, then eventually to Chengdu — where she now works at a university teaching English essay writing.

    Although her income took a dip — she currently earns a salary of $30,000 — Lightyear says her expenses dipped even further because China is such an affordable place to live.

    “Thirty-thousand U.S. dollars a year is poverty in America,” she explained. “But in China, I’m living large. I am upper-middle class.”

    Lightyear says she works just four days a week for a total of 18 hours. She pays 28 cents for her round-trip commute on the subway. She also rents a furnished three-bedroom apartment downtown for $556 per month — half of which is covered by the university as an employee benefit. Her grocery costs are an estimated $75 per month, while meals at local restaurants cost just a few dollars.

    This drastic lifestyle change allowed Lightyear to pay off much of her student loans and start saving roughly $1,000 a month. Her story highlights how big an impact moving to a location with a relatively low cost of living can help unlock financial security. If you’re planning a similar move, here are four underrated cities that should be on your watch list.

    Kuala Lumpur, Malaysia

    Malaysia may not be on the top of a typical expat’s list, but its safe cities, low cost of living and make it a “dramatically underrated” place to move, according to consultancy firm Nomad Capitalist.

    A family can expect to spend roughly $2,800 a month living in Malaysia’s largest city, Kuala Lumpur, according to Nomads.com. With its relatively modern infrastructure, delicious food and fantastic beaches, consider putting Malaysia on your list of potential relocation destinations.

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    Seoul, South Korea

    South Korea typically isn’t on the average American expat’s radar. However, according to Nomad Capitalist, Korea offers special immigration programs for foreign investors and an expat tax scheme that could lower your tax liabilities.

    A family can expect to pay around $3,700 a month to live in Seoul, according to Nomads.com, which isn’t necessarily cheap but considerably lower than many comparable cities in the developed world.

    Mexico City, Mexico

    With its vibrant culture, growing economy and skyscrapers, Mexico City has been described as the “New York of Latin America” according to Nomad Capitalist.

    However, the cost to live in Mexico City is considerably lower than that of the Big Apple. A typical family’s monthly budget could be just $3,000, according to Nomads.com.

    Tbilisi, Georgia

    Georgia, the country not the U.S. state, is located between Turkey and Russia and is often overlooked as an expat destination. Personal income taxes are a flat 20% while small business owners and independent entrepreneurs can achieve an effective tax rate as low as 0% under specific conditions, according to Nomad Capitalist.

    The monthly budget for a family to live in Tbilisi, Georgia’s capital, is just $3,500 according to Nomads.com.

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

  • A $6,000 tax break for seniors just passed under Trump’s big bill — but not everyone will get a cut. Here’s how much money you’ll save at every income level

    A $6,000 tax break for seniors just passed under Trump’s big bill — but not everyone will get a cut. Here’s how much money you’ll save at every income level

    Donald Trump’s big sweeping spending bill included a sweetener for many seniors across America.

    Starting this year, individuals over the age of 65 can claim $6,000 as a tax deduction in their next filing, according to the Internal Revenue Service. Those who file joint returns can claim this amount individually, which means a married couple could get deductions up to $12,000.

    Although this isn’t the elimination of all income taxes on Social Security that he promised while campaigning, this new subsidy could still be a helpful financial boost for those who qualify. However, the real impact of this new deduction depends on your income bracket.

    Here’s a closer look at how much you could save at different levels of income.

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    Low income

    Low-income seniors might not notice this new deduction because they already benefit from a standard deduction that reduces or eliminates the income taxes they owe. As of 2025, the standard deduction for someone over the age of 65 is up to $18,500 individually and up to $32,300 for joint filers.

    This category includes a significant number of American seniors. According to the KFF, one in three adults over the age of 65 had an income below $28,080 in 2022.

    Middle income

    Households with relatively modest incomes could see the most benefit from this new deduction.

    Because the deduction starts to phase out for single filers earning over $75,000 and married couples making over $150,000 — with full disqualification at incomes above $175,000 for individuals and $250,000 for couples — the Urban-Brookings Tax Policy Center projects that middle- and upper-middle-income households stand to gain the most.

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    Seniors with incomes between approximately $80,000 and $130,000 are expected to benefit the most from this provision, which would cut their taxes by an average of $1,100, or around 1% of their after-tax income, according to their calculations.

    High income

    With a full phase out of the deduction at individual incomes above $175,000 and joint incomes above $250,000, high income tax payers won’t benefit from this new incentive at all.

    Caveats

    Given all the rules and limitations, this new tax rule could best be described as helpful but limited. Based on the income limits, the Urban-Brookings Tax Policy Center estimates that less than half of all seniors could see a tax reduction because of this new deduction.

    The rule is also time-limited and applies only to federal income taxes between 2025 and 2028.

    Altogether, the new deduction offers a modest cut to a highly specific group of seniors for a relatively short period of time. However, it does have a long-term impact on other government programs that many seniors rely on: Social Security and Medicare.

    The Committee for a Responsible Federal Budget (CRFB) projects that the new set of tax policies implemented by the One Big Beautiful Bill Act (OBBBA) will hasten the insolvency of both the Social Security and Medicare trust funds, moving their depletion date up from 2033 to 2032 — a full year sooner than earlier forecasts.

    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.