Author: Vishesh Raisinghani

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.

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.

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.

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

If you’ve ever received overpayments from Social Security — even through no fault of your own — you’re on the hook for them. Now, a pair of U.S. senators are trying to protect seniors from some of the burden of reimbursing overpayment errors made by the government.

On March 14, Sens. Ruben Gallego (D-AZ) and Bill Cassidy (R-LA) introduced the Social Security Overpayment Relief Act. It seeks to prevent the Social Security Administration (SSA) from clawing back benefit overpayments — due to errors on the agency’s part — that are more than 10 years old.

“Seniors shouldn’t have to pay for the government’s mistakes, especially not mistakes that happened decades ago,” Gallego said in a news release. He added that the bill would ensure seniors aren’t “blindsided by massive repayment amounts through no fault of their own.”

The bill’s introduction comes at a time when the government is getting tough on clawing back Social Security overpayments. Here’s what is going on.

Clawback tactics

The SSA under President Donald Trump has gotten more aggressive about collecting on overpayments.

As of March 27, the agency has returned to its 100% overpayment withholding policy, meaning the agency can keep your entire monthly benefit until reimbursement is complete. This applies only to new overpayments. Previously, the withholding rate was capped at 10% due to potential hardship of beneficiaries.

The SSA’s Office of the Inspector General reported last year nearly $72 billion in improper Social Security payments were made from fiscal years 2015 through 2022. Most of those were overpayments, and account for less than 1% of the benefits paid over that seven-year period. By the end of fiscal year 2023, the SSA had an uncollected overpayment balance of $23 billion.

Now, according to the SSA, the switch in policy is expected to increase overpayment recoveries by $7 billion over the next decade.

Overpayment tips

If you’re looking to avoid any surprises when it comes to paying back the SSA, you should be monitoring your Social Security account closely to track payments and earnings history. If you receive statements in the mail, make sure you don’t neglect them.

If you’re worried about an overpayment in the past, consider reaching out to a financial adviser to help you sift through these accounts and report any mistakes to the SSA.

An adviser can also help you understand how much you can expect in benefits every month or if there’s any changes to the way you’re paid so that you can prepare in advance. If your adviser can spot any underpayments from the SSA, it’s recommended you report this to the agency as well.

If the agency reaches out to you via mail to alert you about an overpayment, you have 30 days to pay the amount due before collection starts. You can also file an appeal if you don’t think you’ve been overpaid or believe the overpayment amount is incorrect.

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

Tax season is probably everyone’s least favorite time of year. But the experience can be a little more daunting for millions of Americans who receive Social Security benefits and live in a state that applies an additional tax on these payments.

To be clear, most states don’t tax Social Security payments — the federal government will already tax them, beyond a certain gross adjustment income threshold. So the vast majority of retirees don’t need to worry about this. However, Colorado, Connecticut, Vermont, Montana, Minnesota, New Mexico, Rhode Island, West Virginia and Utah will collect some portion of your benefit payments.

If you live in any of these states, here are three ways you can prepare for this and potentially reduce your liabilities.

Check income thresholds

Most states that charge an additional tax on Social Security benefits do so only above certain income thresholds.

In Connecticut, for instance, married couples filing together would pay state tax on these benefits if their joint threshold exceeds $100,000. Those filing under any other status would owe taxes only if the adjusted gross income (AGI) is above $75,000. New Mexico and Rhode Island also have thresholds at varying levels, depending on your status.

At the federal level, if you’re single and your total income is above $25,000 or if you’re married and your combined income is above $32,000, a portion of your Social Security benefits could be taxable, according to the Internal Revenue Service.

With this in mind, it’s important to keep track of all your various income sources and try to forecast future earnings as well to see if you hit any of these thresholds and so you can plan ahead.

Look for tax credits or exemption rules

Some states do offer exemptions, credits and offsets to lower the burden of taxes on lower- or middle-income retirees.

In Colorado, for example, residents over the age of 65 are allowed to deduct the full amount of Social Security benefits included in their federal taxable income from their state taxable income.

For instance, if $7,000 of your Social Security benefits were taxed at the federal level, you can subtract that same $7,000 when filing your Colorado state tax return.

Meanwhile, Vermont offers exemptions to state taxes on Social Security and partial credits depending on your income.

You should check your state rules during tax season to ensure you’re taking advantage of all these deductions and credits. However, the best way to minimize your liability and maximize your credits is to simply hire a professional.

Speak to an expert

Most Americans expect to file their taxes themselves in 2025, according to a recent survey by Invoice Home.

Only 24% of respondents said they would hire a tax professional to assist them, while 39% said they would use third-party tools like TurboTax or H&R Block and 43% said they would trust AI more than an accountant.

However, given how complex the tax system is, even for retirees on a fixed income, hiring a professional to assist you could be worth the investment. Someone with the right experience could help you navigate this tax season with confidence.

If you’re worried about missing out on some credits or paying state taxes on your Social Security this year, consider reaching out to a tax planner or Certified Public Accountant (CPA).

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

Trump’s escalating trade fight with Canada is sparking backlash in an unlikely place: his own fanbase. Joe Rogan, a high-profile Trump voter and supporter, slammed the economic standoff as “stupid.”

‘Why are we upset at Canada?” he asked fellow comedian Michael Kosta on a recent episode of his podcast The Joe Rogan Experience, “This is stupid, this over tariffs … We got to become friends with Canada again, this is so ridiculous. I can’t believe there is anti-American, anti-Canadian sentiment going on. It’s the dumbest f— feud.”

And it’s not just tariffs rubbing him the wrong way. The 57-year-old also took a shot at Trump’s wild talk of annexing Canada, quipping, “I don’t think they should be our 51st state.”

Recent surveys seem to indicate that most Americans and Canadians share Rogan’s sense of frustration with the ongoing economic battle.

‘Dumbest trade war in history’

At the time of writing, aluminum and steel imported from Canada face 25% tariffs while potash and energy imports face 10%, according to the Conference Board’s live tracker.

Goods covered under the United States-Mexico-Canada Agreement (USMCA) trade agreement are exempt until April 2, which covers about 38% of imports from Canada. On April 3, 25% tariffs will also be imposed on cars imported from Canada.

The Trump administration’s justifications for these tariffs have varied widely, but the president has repeatedly insisted that Canada could avoid the trade war by simply joining the U.S.

“The only thing that makes sense is for Canada to become our cherished Fifty First State,” the president wrote on Truth Social. “This would make all Tariffs, and everything else, totally disappear.”

Few people on either side of the border support this idea.

Angus Reid polled Canadians and found 90% of Canadians would vote “no” to joining the U.S. Meanwhile, 60% of Americans are against the idea, and 32% would only consider it if Canadians are onboard.

The trade war is just as unpopular, with only 28% of Americans in favor of tariffs on Canadian imports, according to a survey by Public First. These economic moves are so unpopular and unjustified that the Wall Street Journal labeled it “The Dumbest Trade War in History”.”

Whether this growing chorus of criticism convinces the Trump administration to dial back trade tensions remains to be seen. For now, consumers and investors must prepare for a volatile economy.

How to prepare

With plenty of uncertainty on the horizon, it’s probably a good idea to make strategic moves to protect your budget and investments for the foreseeable future.

The stock market has been just as volatile as the administration’s trade policy, prompting some investors to seek a safe haven. The price of gold is up 14.5% over the past six months as more investors add exposure to this hard asset.

Meanwhile, consumer behavior is shifting in response to tariff threats. If tariffs push prices up, nearly half of shoppers say they’ll buy less often.

Another 40% are ready to swap for cheaper brands, and half are open to secondhand or local alternatives, according to a poll by Smarty, a shopping rewards app.

The survey also found that many consumers are adopting a “buy now before prices spike” approach to major purchases, such as cars and home appliances. Moving up big purchases and buying essentials in bulk could be a great way to avoid or minimize the costs of this trade war.

Over the long term, if this economic battle persists you may need to add a margin of safety to your annual household budget. If you assume auto parts, clothes and food will cost roughly 25% more in the future, you can bolster your personal finances even if this trade conflict is resolved and the price hikes don’t materialize.

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

There’s been plenty of debate about the stubborn wealth and income gap in our economy. But according to NYU Professor Scott Galloway, the real chasm isn’t just between the rich and the poor. It’s between the old and the young.

In a recent conversation with Simon Sinek, Galloway proposed the theory that the economic system favors people who were born early enough to accumulate assets such as real estate cheaply, and now enjoy inflated valuations.

This generational divide is the fundamental cause for widespread economic dissatisfaction, according to him.

“Everything we do is ‘how do we buttress the wealth of incumbents and old people and make it more expensive for young people?” he said. “Their housing has gone up 4x, their education has gone up 2x and, on an inflation-adjusted basis, their income has gone down.”

While recent data confirms a wide wealth divide between generations, subtle shifts suggest the gap is starting to close gradually.

Generational wealth divide

As of Q4 2024, baby boomers held 51% of household wealth in America, according to Federal Reserve data. Altogether, their assets were worth $82.48 trillion. By comparison, millennials had just $16.26 trillion in total assets.

This wealth disparity could be the root cause of dissatisfaction for many young Americans, many of whom are now old enough to start families and need larger homes.

At the same time, there are some encouraging signs. Millennials have been accumulating assets rapidly in recent years, as their share of the national total surged from nearly 1% in 2010 to 10% in 2024. Boomers, on the other hand, now see a drop over the same period.

And according to a 2024 Wall Street Journal report, millennials and older members of Generation Z now have 25% more wealth than Generation X and baby boomers did at a similar age, when adjusted for inflation.

Inheritances could be helping some younger people achieve prosperity. According to NorthWestern Mutual, experts predict the Great Wealth Transfer from baby boomers and Gen Xers to their children will be worth $90 trillion.

However, having wealthy parents isn’t the only path to wealth accumulation.

Beating the odds

If you’re a young person in America from a low- or middle-income family, the odds are stacked against you. However, there are ways to beat the system and out-perform your peers in the wealth accumulation race.

Avoiding or minimizing debt could put you ahead of the game. Roughly 97% of retirement-age U.S. adults still have nonmortgage debt, according to a recent retirement study. This includes things like student loans, auto loans and credit card debt. If you can minimize debt during your working years, you could come out on top in retirement.

Another way to beat the odds is to accumulate assets as rapidly as you can. As of January, the personal savings rate is just 4.6%, according to the U.S. Bureau of Economic Analysis. If your debt burden is lower than most Americans, you could afford to set aside more of your disposable income for savings and investments.

By saving slightly more and investing in a low-cost index fund that tracks the broad stock market, for example, you could gain exposure to the country’s most robust wealth creation engine.

Even on a modest salary, saving 10% or 15% of your income and investing in ETFs or stocks could help you accumulate more than $35,649, the median net worth of an American in their 30s, according to Empower.

Finding side gigs or upgrading your professional skills to boost your earnings could be another way to supercharge this strategy.

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.

Few professional investors have been in the game as long as Warren Buffett. The legendary investor has been successfully picking stocks since he was just 11 years old. Today, the 94-year-old is the ninth richest person in the world, worth an estimated USD$150 billion, according to Bloomberg.

Buffett’s success was already apparent in 1985, when he made his first TV appearance in an interview with George Goodman. During the interview, Goodman inquired why Buffett’s relatively simple yet highly effective approach to investing hadn’t been adopted by others.

“Well, I think partly because it is so simple,” Buffett responded.

Here’s why he believes neglecting the simple approach is the biggest mistake many professionals and academics make while investing.

The value of simplicity

Academics and professionals get bogged down with overanalyzing data simply because they have the skills and the data is available, Buffett told Goodman.

“As a friend of mine says, to a man with a hammer everything looks like a nail. And once you have these skills, you just are dying to utilize them in some way. But they aren’t important,” he said.

Since the interview, the amount of data available to the average investor has exploded.

In fact, ordinary investors even have access to tools such as Insider Tracking, which follows the trades of corporate insiders, and SkyFi, which offers investors satellite imagery.

This niche data might be useful in some cases, but it can also overcomplicate your investment strategy. Instead, most investors should consider Buffett’s relatively straightforward approach.

Applying the Buffett approach

According to Buffett, investing isn’t a complicated data science experiment but a relatively simple business deal.

“If I were being asked to participate in a business opportunity, would it make any difference to me whether I bought it on a Tuesday or a Saturday or an election year or something?,” he asked Goodman. “It’s not what a businessman thinks about in buying businesses. So why think about it when buying stocks? Because stocks are just pieces of businesses.”

To apply Buffett’s bottom-up approach, consider the merits and fundamentals of the business underlying each stock. Take the time to understand what the company produces and how it makes money.

For instance, if Nvidia stock were on your radar, it might be a good idea to learn about their semiconductor business and how demand is impacted by the rise of artificial intelligence software. It could also be worth considering products in their pipeline, such as the Blackwell Superchip, and its potential impact on the business’s future.

The next step would be to examine the company’s fundamentals. A good product or service isn’t necessarily a good investment if the company is struggling to generate profit or cash flow. A track record of safe and consistent dividend payments could suggest that the underlying business is healthy and lucrative enough to reward shareholders.

PepsiCo, for example, has consistently raised its quarterly dividends for 53 years.

The final step is valuation. As Buffett once said, “Price is what you pay; value is what you get.”

In other words, even an excellent business isn’t a good investment if you pay too much for it. With this in mind, consider valuation metrics such as the price-to-earnings (PE) ratio or price-to-free-cash-flow multiples to ensure you’re getting a good deal.

Google’s parent company, Alphabet, currently trades at a PE multiple of 20.5, which is noticeably lower than its peers Meta and Amazon, which are currently trading at PE ratios of 28 and 35 respectively.

By focusing on relatively cheap companies with robust financials and great products, you too can implement Buffett’s simple investing approach. No fancy data analysis necessary.

This article Warren Buffett is worth a whopping USD$150 billion — but he says there’s 1 big reason people refuse to invest like him. Are you making this crucial money mistake, too?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.

Despite their multimillion-dollar salary packages, professional athletes often face financial struggles after they leave the field. That’s according to real estate mogul Grant Cardone, who recently posted a video on YouTube explaining why.

“Many ball players go broke after they retire, not because they retired but because they didn’t plan for their retirement that you knew was going to happen anyway,” says the 66-year-old entrepreneur and investor, — “And they spend a bunch of money on bulls–t.”

According to Craig Brown, a partner at NKSFB Sports Business Division, an astonishing 78% of professional athletes face bankruptcy within just three years of retiring.

In one famous example, NBA basketball legend Allen Iverson reportedly filed for bankruptcy in 2012 after lavishly splurging on jewellery and luxury gifts for friends, according to Style magazine, illustrating Cardone’s argument about reckless spending habits.

Unfortunately, the temptation to stretch budgets and go into debt isn’t limited to multimillionaire athletes. Here’s how ordinary North American families are falling into a similar trap.

Avoid the growing debt trap

One way to get caught with nothing is to ignore the need to moderate spending once you are near or in retirement. For instance, if a family is accustomed to spending a lot on indulgences but doesn’t adjust this spending to accommodate the rise in prices or a decrease in income, then they’ll probably end up relying on debt. This can be a big problem when it comes time to retire.

According to TransUnion, more Canadians borrowed and used credit in the third quarter of 2024. This reliance on credit pushed the total consumer credit debt to CAD$2.5 trillion by the end of last year. This is a big problem — so big that even the Bank of Canada recognizes the problem in its monetary statements, stating that half of Canadians carry a credit card balance for at least two consecutive months.

When you combine this reliance on debt with the current risk of financial setbacks — either through investment losses or loss of employment — and the average family is far more exposed to financial shocks and the potential to go broke.

With this in mind, Cardone says he sets a strict guardrail on unnecessary and recreational expenses. Here’s how his model works.

Passive income only

“I buy bulls–t from passive income only,” Cardone explains in the video.

Fortunately, his extensive portfolio of real estate investments gives him plenty of flexibility. At this point in time, he claims to own 7,000 apartment rental units. Just one of these 250-unit properties provides Cardone with an annual revenue of approximately USD$6.6 million.

The cash-flow from this one investment is what Cardone uses for his consumer spending indulgences.

“How stupid can you go? You can go as stupid as your cash flow,” he says.

A similar framework could ring-fence your personal finances, too. Reducing consumer debt and accumulating a six-month emergency fund could be the first steps. Meanwhile, a tight budget for active income can help you manage necessary expenses such as groceries, rent and transportation.

Investing excess cash flow in assets that generate passive income could give you room to indulge.

For example, dividend stocks or divident exchange-traded funds (ETFs), can provide monthly, quarterly or annual passive income. For instance, BMO Canadian Dividend (ZDV.TO) provides exposure to a diversified portfolio of Canadian dividend-paying stocks with sustainable, consistent payouts. ZDV.TO offers an annualized distribution yield of 3.72%. Investing CAD$10,000 in this ETF would provide about CAD$450 in annual passive income, which you could either re-invest or spend on gifts for family members or a short weekend getaway.

Cardone’s approach prioritizes necessary expenses and puts a firm limit on temptations, which is a pragmatic way to achieve financial security.

Sources

1. YouTube: Why MOST Ball Players go BROKE (March 18, 2022)

2. Fox Business: Why do professional athletes go broke? (Feb 2, 2022)

3. Style: How NBA basketball legend Allen Iverson rebuilt his fortune: he blew US$200 million on jewellery, nights out, Bentleys, Lamborghinis and Maybachs – but has turned things around thanks to Reebok By Gloria Fung (May 20, 2024)

4. TransUnion: Canadian Credit Market Set to Grow in 2025 Amid Expected Lower Cost of Living and Interest Rates (Nov 26, 2024)

5. Bank of Canada: The reliance of Canadians on credit card debt as a predictor of financial stress (July 2024)

This article Grant Cardone says this is the 1 big reason pro athletes go broke when they retire — says he makes USD$6.6M/year in passive income with a tiny portion of his portfolio. Here’s how 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.