News Direct

Category: Moneywise

  • ‘Everything we had’: LA family devastated after jewelry store targeted in shocking Hollywood-style heist — with millions gone, owner says it’s left his 71-year-old dad’s retirement at risk

    ‘Everything we had’: LA family devastated after jewelry store targeted in shocking Hollywood-style heist — with millions gone, owner says it’s left his 71-year-old dad’s retirement at risk

    It seems like a plotline out of a Hollywood blockbuster: thieves cutting through a concrete wall in the middle of the night to break into a neighboring jewelry store and steal more than $2 million in cash and jewels.

    But that’s what happened in a brazen heist to family-owned 5 Star Jewelry and Watch Repair in Simi Valley, California, according to ABC7 Eyewitness News.

    Don’t miss

    “I feel bad because this was my life, my retirement … they got everything we had,” Jacob Youssef told KTLA5. At 71 years old, he was about to retire and had already left the business to his son Jonathan in 2015. “I cannot rebuild what I did in my lifetime.”

    Since the store was priced out of insurance, they’ve now lost everything.

    Why a family’s financial future is now at stake

    A security camera shows one of the thieves crawling on his stomach through the neighboring store to avoid motion sensors and then spray-painting the camera lens.

    “This wasn’t random,” Ted Mackrel, owner of Dr. Conkey’s Candy and Coffee told KABC. “They sawed a hole in our roof Sunday evening of Memorial Day weekend and managed to dodge all security systems.”

    From there, the thieves dropped into the shop’s bathroom, shimmied along the floor and spent at least three hours cutting through a concrete wall and then a heavy safe.

    Mackrel says the break-in was discovered on Monday morning when staff reported “a big hole in the wall leading to the jewelry store.”

    According to Jacob and Jonathan, the thieves stole all of the gold and jewelry in the safe, as well as customers’ heirloom pieces — including a Rolex watch — that they were repairing at the time of the break-in.

    But that wasn’t all they lost.

    “It’s a hit,” Jonathan, who now runs the family business, told KTLA5. “It’s [my dad’s] retirement, my future. I have a young family and three daughters. It’s a lot to have to rebuild from, especially because my dad is 71. He can’t work forever.”

    Since the incident, the local community has started a fundraiser to help the family get back on their feet.

    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

    A risky strategy for retirement

    This event reveals a critical vulnerability that many small business owners face: relying entirely on their business as their retirement plan.

    Recent Gallup research found that most small business owners don’t have a succession plan, yet 74% of employer-business owners have plans to sell or transfer the ownership of their business for retirement.

    An earlier 2025 survey by SCORE found that 34% of entrepreneurs have no retirement savings plan for themselves, with 18% planning to sell their business and use the money to fund their retirement. Another 21% have already used their retirement savings to invest in their business.

    But this strategy comes with risks, including a lack of diversification, liquidity challenges and even the myth of the eventual sale.

    “Of the approximately 77 million baby boomers in the U.S., an estimated 12 million have ownership in privately held businesses,” according to a whitepaper by Butcher Joseph & Co. and ITR Economics.

    At the same time, about 10,000 baby boomers reach retirement age every day. But many are facing a similar problem, since “their would-be heirs would rather have the proceeds of a sale than take over the family business.”

    Another problem, however, is that with an influx of baby boomers looking to sell, “we’re entering an environment where buyers have the upper hand,” according to Entrepreneur.

    That may be good news for young entrepreneurs looking to buy an established business, but perhaps less so for small business owners dependent on the sale for their retirement.

    How to save for retirement

    If you’re self-employed or run a business, you may want to avoid putting all your retirement eggs in one basket.

    If you’re self-employed and don’t have any employees, consider a solo 401(k) to beef up your own retirement savings. If you have employees, a Simplified Employee Pension (SEP) IRA can help both owners and their employees contribute toward their retirement.

    You may also want to consider contributing to personal investment accounts separate from the business. The more diversified you are, the better.

    And don’t forget about liquidity. If you can’t sell the business right away, what would that mean for your retirement goals?

    It’s well worth consulting with a financial advisor as well as experts in succession planning to make sure you have an exit strategy that leaves you with options.

    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.

  • New Jersey residents fear losing their ‘slice of heaven’ amid city’s plans to build new pickleball and tennis courts with no parking — here’s how to say your piece when your peace is at risk

    New Jersey residents fear losing their ‘slice of heaven’ amid city’s plans to build new pickleball and tennis courts with no parking — here’s how to say your piece when your peace is at risk

    Edison Woods Park is tucked away in a quiet residential pocket of Edison Township, New Jersey. It’s so quiet that many locals don’t even know it’s there, and residents who live around the park say that’s exactly why they love it.

    “It’s our little slice of heaven,” one neighbor told NBC 4.

    Now, residents are worried that could soon change. The township plans to revitalize the park by adding a new pickleball court, a relocated basketball court, building a tennis court and installing new walkways — and residents are pushing back hard.

    Don’t miss

    Neighbors concerned about park upgrades

    The township is looking to update 32 parks across Edison, including this small neighborhood green space. Edison Woods Park recently got a new jungle gym, which neighbors told News 4 they were happy about. But more ambitious upgrades are planned, and residents are concerned say it could disrupt their quiet way of life.

    The park has no internal parking lot, so visitors must park on nearby residential streets and walk in. That’s part of what worries residents most.

    “I’m most concerned about the privacy, the flooding and the parking,” Bonnie Lefrak said to NBC News 4 New York, who lives next to the park.

    Neighbors also say the area isn’t built to handle an influx of people, pointing to increased traffic, safety risks and noise as additional concerns.

    “This is a residential area,” said neighbor Fred Dellapitro. “They have parks that are three times the size of this. Why don’t they enhance those instead?”

    Residents aren’t opposed to improvements, but say they want more transparency and input. Several neighbors told NBC 4 they didn’t even know about the project until recently and feel blindsided by the proposed changes.

    “They’re just looking into trying to revitalize the area,” one resident said. “But to us, you’re going to be bringing in additional people that you know may not have known of our little slice of heaven.”

    Neighbors say the township should have asked for their input earlier, and they want a say in what happens next.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    How to make your voice heard against local townships

    News 4 reports that no plans have been finalized yet by Eddison officials. The proposed court installations are part of a larger effort to revamp recreational spaces across the township, and feedback is still being gathered.

    If you’re facing a similar situation in your neighborhood, here are a few ways to get involved before changes are made:

    • Show up and speak out: Attend planning board or township council meetings. These meetings are often open to the public and include comment periods, during which residents can voice concerns or ask for changes.
    • Start a petition or neighborhood group: A single complaint is easy to ignore, but dozens of signatures or a formal group can get attention. Consider gathering support and presenting a unified message.
    • Request project details: Use tools like public records requests to see project proposals, traffic studies, or budget allocations. The more informed you are, the better your argument will be.
    • Talk to local leaders: Contact your ward councilperson or township administrator. Elected officials are more likely to listen when their constituents reach out directly and respectfully.
    • Use local media and social platforms: Sharing your story with local news outlets, neighborhood Facebook groups, or community forums can help bring public pressure and rally more support.
    • Propose alternatives: If you’re not against improvements but want something smaller or quieter, suggest changes that preserve the park’s low-traffic character, like nature trails, benches, or limited-use courts.

    Ultimately, decisions like these aren’t always set in stone, especially when communities stay organized, respectful and persistent. Whether you’re trying to protect green space or just want a say in how your neighborhood grows, speaking up can shape how your neighborhood grows.

    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.

  • Houston woman stressing over how to tell her friend she has a strict $1,100 budget for her bachelorette weekend — here’s how The Ramsey Show co-hosts suggest she deals with ‘her reality’

    Houston woman stressing over how to tell her friend she has a strict $1,100 budget for her bachelorette weekend — here’s how The Ramsey Show co-hosts suggest she deals with ‘her reality’

    Serenity from Houston wants to support her best friend — but the costs are starting to spiral out of control. She called into The Ramsey Show and asked the hosts for some advice.

    Don’t miss

    She revealed she is committed to attending her friend’s bachelorette party, which will take place over a three-day weekend. However, she admitted she’s starting to get uncomfortable about the unexpectedly high costs attached to the event.

    “.. it’s outside of my budget, and I don’t know how to tell her that,” Serenity said. She also mentioned that the bride is an engineer making six figures a year.

    Ramsey co-hosts, Jade Warshaw and Ken Coleman, have different opinions on how Serenity could handle this delicate — but common — situation.

    Spiraling out of control

    Although Serenity is excited to support her friend, she is apprehensive about the costs.

    Since she’s already paid $700 for flights and the hotel stay, and both are nonrefundable, she’s not planning on bailing altogether. But as the event gets closer, details about the weekend’s activities are coming out. And it’s clear that the weekend could get very expensive quickly.

    “Every activity is at least $150,” said Serenity.

    In total, she had planned for $400 in spending money for the three-day weekend. But, with the latest details, she expects all of the activities to add up to about $650.

    Warshaw jumped in with, “I do feel like it can be a little tone-deaf to have these big bachelorette trips. You’re already in the wedding, you already have to get a dress or a tuxedo, and then don’t let it be a destination wedding.”

    At this point, Coleman pointed out that Serenity isn’t actually in the wedding party, and he began to try offering some practical suggestions. He acknowledged that Warshaw is "upset" that Serenity is even going on the trip.

    “I’m trying to help her with her reality,” he said, and proceeded to suggest Serenity pick and choose what activities she attends based on her budget. Since she has $400 to spend on the weekend, she’d only need to skip out on one or two activities to make the trip work for her budget.

    Coleman suggested politely finding an excuse for the other activities. For example, she might claim to have a headache to skip out on one of the pre-scheduled events.

    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

    Alternatively, she could decide to share with her friend that the itinerary doesn’t fit her budget, so she’ll have to skip out on a few things. “I don’t think it’s too late to not go,” said Warshaw, before Serenity clarified that she cannot get any money already spent refunded.

    “I say go and you budget the $400,” said Coleman. “You got $400 … so, you can have $400 worth of fun.”

    How to navigate expensive wedding festivities

    For many, bachelor and bachelorette parties have gone from a night on the town to a full-blown weekend away. As the expectations rise for these events, so do the costs.

    According to a study from The Knot, 37% of attendees of bachelor and bachelorette parties spend more than $1,000 on the event. And, on average, 64% of attendees spend more than $400 on each of these events.

    If you get invited to a bachelor/bachelorette bash or trip, saying yes to the costs can devastate your budget and endanger your financial future. And, this is before the actual wedding weekend, with all of those expected costs.

    When trying to navigate the event on a budget, the key is to think about your budget and how much you can afford to spend before you commit to everything. It’s tempting to say yes to everything. But getting the details of the itinerary, location, and lodging can help you make an informed decision.

    Beyond the baseline costs, like the hotel and potential flights, consider the hidden costs, like a rental car, ridesharing fares, meals, tips, and matching outfits.

    Once you have more details, you have an opportunity to start saving up for the big weekend. If you have room in your budget, you can set aside those savings. If not, you might have to make room.

    Cutting back on discretionary purchases or picking a side hustle could help you find the money to cover the fun weekend without going into debt.

    Another way to make it work might be to only attend some of the weekend’s activities. For example, you might claim you have a headache before an expensive activity you don’t truly want to attend or you might pick an early flight out, which gives you an easy way to say no to an expensive brunch.

    Or simply let the host know that you won’t be able to attend certain activities since you’re trying to get your finances in order.

    If you really cannot find a way to make it work, consider respectfully declining the invitation. You might claim you had something else scheduled or be honest about the fact that you simply can’t afford it.

    What to read next

    Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

  • Jerome Powell was just hit with a criminal referral over Fed’s $2.5B renovation project — Trump ally accuses him of lying about ‘luxury features.’ Here’s what it might mean for your nest egg

    Jerome Powell was just hit with a criminal referral over Fed’s $2.5B renovation project — Trump ally accuses him of lying about ‘luxury features.’ Here’s what it might mean for your nest egg

    We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

    Federal Reserve Chair Jerome Powell faces a criminal referral from Republican Congresswoman Anna Paulina Luna — the latest escalation in GOP scrutiny of the central bank’s spending and leadership.

    On July 19, Luna sent a letter to Attorney General Pam Bondi urging the Department of Justice to investigate Powell for potential perjury and making false statements to federal officials.

    Don’t miss

    The referral centers on Powell’s June 25 statements under oath before the Senate Committee on Banking, where he addressed the $2.5 billion renovation of the Fed’s historic Eccles Building. In a news release, Luna claims he “knowingly misled” officials about the nature of the project during testimony, in which he “denied the inclusion of luxury features.”

    “[Powell] stated: ‘There’s no VIP dining room, there’s no new marble … there are no special elevators, just old elevators that have been there; there are no new water features, there’s no beehives and there’s no roof terrace gardens,’” she wrote in the letter.

    But according to Luna, his statement doesn’t match up with filed documents. Citing the Federal Reserve’s final submission to the National Capital Planning Commission, she said nearly all of Powell’s denials — aside from the beehives — are contradicted by actual renovation plans.

    She also pointed in the letter to Powell’s statement that the building “never had” a serious renovation, despite a previous project from 1999 to 2003.

    If Powell knowingly misrepresented the facts, Luna argues, his actions may constitute perjury or materially false statements under federal law.

    According to Fox News, trade outlet Mortgage Professional reported that Powell has denied all allegations of perjury and has called for a formal watchdog investigation into the Eccles Building’s renovation costs.

    Trump, Powell and the fate of your heard-earned dollar

    There’s been growing tension between President Donald Trump and Powell based on a fundamental disagreement over interest rates. Trump has repeatedly criticized Powell — calling him names like “numbskull,” “Mr. Too Late” and a “major loser” — for the Fed’s decision to keep its benchmark rate in the 4.25% to 4.50% range throughout the year. Trump insists rates should be as much as three percentage points lower to help the economy

    Trump has said he isn’t planning on firing Powell, but also hasn’t ruled out the possibility. Powell’s term as Fed chair runs through May 2026, and he has said he does not intend to leave early.

    While uncertainty lingers around Powell’s future, it’s worth remembering the core purpose of the Fed. As the nation’s central bank, it operates under a dual mandate: to pursue maximum employment and maintain price stability.

    In a statement released June 18, the Federal Open Market Committee noted that unemployment remains low and labor market conditions are solid — but inflation “remains somewhat elevated.”

    That may explain why the Fed isn’t cutting rates. While lower interest rates — the kind Trump has called for — could boost economic activity, they also risk reigniting inflation. And the 40-year high inflation rate Americans endured in 2022 is still fresh in the rearview mirror.

    The good news? Savvy investors have long relied on certain assets to shield their wealth from inflation’s bite — no matter who’s running the Fed.

    A safe haven shines again

    Gold has helped people preserve their wealth for thousands of years. Today, its appeal is simple: unlike fiat currencies, the yellow metal can’t be printed at will by central banks.

    It’s also widely regarded as the ultimate safe haven. Gold is not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

    Over the past 12 months, the price of the precious metal has surged about 40%.

    Ray Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, has repeatedly emphasized gold’s importance in a resilient portfolio.

    “People don’t have, typically, an adequate amount of gold in their portfolio,” he told CNBC earlier this year. “When bad times come, gold is a very effective diversifier.”

    One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.

    Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties.

    When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in precious metals for free.

    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

    A time-tested income play

    Gold isn’t the only asset investors rely on to preserve their purchasing power. Real estate has also proven to be a powerful hedge.

    When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that can adjust for inflation.

    Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has jumped by more than 50%, reflecting strong demand and a limited housing supply.

    Of course, high home prices can make buying a home more challenging, especially as mortgage rates remain elevated. And being a landlord isn’t exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns).

    The good news? You don’t need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class.

    Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.

    The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment.

    Another option is First National Realty Partners (FNRP), which allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord.

    With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns.

    Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties.

    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.

  • Canadian man livid after finding $35K in fraudulent charges from all over the world on his business card — and his bank says he’s on the hook. What to do to protect your accounts from fraud

    Your credit card can be a lifeline in tough financial times, but it can also turn into a nightmare in the blink of an eye.

    Just ask Andrew St. Hilaire, a small business owner who recently discovered his credit card had been compromised. The damage? A staggering $35,000 in unauthorized charges spanning multiple countries and continents — a spending spree that somehow bulldozed past his $23,000 credit limit.

    Don’t miss

    “It was charges after charges for jewelry, perfume, pharmacy stuff, but big ticket items, and then they’d stop for a steak and dinner somewhere,” St. Hilaire shared with CityNews from his home in Winnipeg, Manitoba.

    But the real shock came when his bank, The Bank of Montreal (BMO), looked at this international shopping bonanza and determined that everything looked legitimate, refusing to classify the transactions as fraud despite the extremely unusual pattern of spending.

    Fraud claim gets denied

    It all began in January when St. Hilaire discovered the fraudulent shopping spree that racked up a $34,447 bill and overshot his credit limit by more than 50%. While BMO hasn’t explained why it approved $12,000 beyond Hilaire’s credit limit, this isn’t uncommon with business credit cards.

    Banks often allow transactions to exceed stated limits, especially for business accounts. When fraud occurs, multiple transactions can be processed simultaneously before the system flags suspicious activity, pushing the total well past the ceiling without triggering immediate blocks.

    When he contacted BMO, St. Hilaire was told his fraud claim was invalid and that he didn’t do enough to protect his card. BMO told St. Hilaire that it had sent a one-time passcode to his email for two-step verification, and that passcode was reportedly used to gain access to his account.

    “I didn’t get that email,” St. Hilaire stated. “If I had seen it, I probably would have looked into it and found the fraud sooner.”

    St. Hilaire also notified BMO about a fraudulent $5,000 payment to his credit card from his bank account that he says he didn’t make. According to BMO, that payment allegedly came from a device that St. Hilaire used in the past.

    After exhausting most of his options, St. Hilaire has filed a police report, as well as a claim with the Canadian ombudsman for banking services and investments.

    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

    Why credit card companies deny legitimate claims

    It’s a scenario that plays out worldwide, and while this might seem rare, the numbers tell a different story. Approximately 7% of legitimate fraud claims end up denied, according to Security.org, leaving cardholders to shoulder the financial burden themselves.

    Here are some common reasons why credit card issuers might reject your fraud claim:

    1. The “familiar fraud” flag: If the fraudulent purchase fits your spending pattern or location, your card issuer might assume you made the purchase and you’re just having buyer’s remorse and trying to pull a fast one.
    2. Reporting delays: Credit card companies are skeptical of claims made weeks or months after the charge. Even though federal law gives you 60 days, many issuers start looking sideways at reports made after just a few days.
    3. Shared account access: If you’ve ever given your card or PIN to a family member or friend, the issuer might argue you authorized that person to use your account, making all their purchases “authorized.”
    4. Cardholder negligence: If the card company believes you failed to protect your card information, it might hold you responsible.
    5. Transaction verification methods: For large transactions, if there’s evidence of a signature, PIN entry or two-factor authentication, card issuers will often conclude that it must have been you who approved the purchase.

    How to fight back if your claim is denied

    When your credit card company plays hardball with a fraud claim, it’s time to switch from defense to offense:

    1. Escalate within the company: Ask to speak with a fraud department supervisor or manager who might have more authority to overturn decisions.
    2. Request all evidence and documentation from your credit card issuer.
    3. File complaints with regulatory authorities like the Consumer Financial Protection Bureau.
    4. Contact your state attorney general’s office.

    St. Hilaire is taking many of the necessary steps. But with his fraud claims shot down and BMO ending its business relationship with him because of his “fraud risk,” St. Hilaire is left wondering how any of this happened in the first place.

    “Passwords, virus protection. I don’t know how things were compromised,” said St. Hilaire. “I’ve never lost a card, and I have the virus protection and the safeguards on my computer, which is what a reasonable person would have.”

    5 tips to protect yourself from credit card fraud

    Of course, the best protection against fraud is prevention. Here are a handful of practical tips to protect you from fraudulent charges on your bank accounts:

    1. Set up instant alerts on your phone for all transactions: This single step catches most fraud within minutes, letting you shut it down before thieves can rack up multiple charges.
    2. Inspect before you swipe: Give card readers at gas stations and ATMs a quick wiggle, as skimmers often feel loose. Stick to bank ATMs when possible, as most card skimming happens at convenience stores.
    3. Use virtual card numbers for online shopping: Most major card issuers now offer this feature that creates temporary numbers for online purchases, keeping your real card number protected.
    4. Don’t store your card info on websites.
    5. Check your accounts weekly, not monthly.

    Credit card fraud is a global problem, with billions of dollars being scammed from unsuspecting cardholders. And since the next scammer tactics are constantly being developed, vigilance (and a little bit of knowledge) is essential for staying safe.

    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.

  • ‘He stole our lives’: Disbarred NY attorney found guilty of stealing 11 properties from homeowners in financial distress — leaving this woman hopeful her home will be returned 13 years later

    ‘He stole our lives’: Disbarred NY attorney found guilty of stealing 11 properties from homeowners in financial distress — leaving this woman hopeful her home will be returned 13 years later

    Clotilde "Wendy" Sawadogo and her husband Patrice once owned a pair of buildings in Brooklyn, but the New York City couple says they were deceived 13 years ago after seeking the help of an expert to sell the properties.

    "It was a trick," Sawadogo told News 12 Brooklyn in a story published June 6. "Tricking him (her husband) to sign over the deed."

    Don’t miss

    On June 5, Sanford Solny, a disbarred attorney, was convicted of stealing the deeds of 11 properties from 15 victims over a 10-year period. According to the Brooklyn District Attorney’s Office, the victims were primarily minority homeowners in financial distress.

    "He stole our lives," Sawadogo said.

    Solny now faces up to seven years in prison. Here’s how the scheme worked, and how homeowners can protect themselves.

    Disbarred lawyer’s fraud scheme

    The DA’s office says Solny targeted homeowners in foreclosure and presented himself as a financial expert. He told victims he could negotiate with lenders to sell their homes for less than what was owed on the mortgage — what’s known as a short sale — to help avoid foreclosure. Making false statements, he tricked them into signing over their deeds to companies he owned.

    Sawadogo says she and her husband were rushed through the paperwork before the eviction process suddenly started, per News 12.

    The DA says the fraud took place between 2012 and 2022. Solny’s law licence was suspended in 2012 and he was disbarred in 2023. He’s scheduled for sentencing on Sept. 17.

    News 12 reports the DA’s office confirmed a judge would be signing an order to nullify the fraudulent deeds. Sawadogo is hopeful she and her husband will get their properties back.

    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

    The local broadcaster reached out to Solny’s attorney, who replied with a statement:

    "While we believe that the evidence supported an acquittal on all charges, we were grateful for the acquittals on the majority of the charges," his lawyer said. "There are myriad appellate issues which will be vigorously pursued in future proceedings."

    How you can avoid deed theft

    Solny’s crime was a type of deed theft or home title fraud. This occurs when someone takes title to a home by arranging for the deed to be transferred to them — typically without the actual property owner knowing or understanding what’s happening.

    Deed theft or title fraud can occur the way it did with the Sawadogos, where the couple is tricked into signing over the deed. It can also occur when a criminal pretends to be the owner of a vacant property and signs the deed over to themselves. From there, the deed holder can sell the home or get a mortgage or HELOC on it that’s never paid back.

    Homeowners need to protect themselves from this type of fraud and can do so by:

    • Checking regularly on the title with the state’s land records office and, where available, signing up for alerts when a legal change to the title of a property occurs
    • Checking credit reports regularly to watch for new, unexpected mortgages or home equity loans
    • Making sure bills come regularly and investigating if they’re missing

    Homeowners also need to be careful who they trust for help, which means only working with a licensed real estate agent or licensed attorney when they need assistance, and checking with their state’s disciplinary board to ensure that the professional they hire is in good standing.

    For the Sawadogos, it’s already too late to undo what happened and get back the lost years in their home — but other property owners should be vigilant and make sure they, too, don’t get tricked by a bad actor who pretends to want to help.

    What to read next

    Money doesn’t have to be complicated — sign up for the free Moneywise newsletter for actionable finance tips and news you can use. Join now.

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

  • ‘It’s misery’: Long Island family says contractor gutted their home and vanished after $96K payment — now they’re living in a camper and facing thousands in losses

    ‘It’s misery’: Long Island family says contractor gutted their home and vanished after $96K payment — now they’re living in a camper and facing thousands in losses

    Deanna Salentino and her family were very excited to upgrade their home on Winston Court in Shoreham, New York. Instead, Salentino, her husband and their three children are now living in a camper parked in their backyard.

    “It’s misery,” she told News 12. “And I thought I was supposed to be moving into my house today. It’s awful.”

    Don’t miss

    The family had big plans to create their dream home and hired Robert Cortese of Tool Time Construction to do the work. In May, they paid him $96,200 and he began tearing out walls.

    Since then, the family said, no work has been done. No materials or appliances have been ordered. What’s left behind are bare studs, loose wires and missing doors and railings.

    No comment from Cortese

    News 12 reporters tried to speak with Cortese, but he offered little explanation.

    “They say you took $96,000 but didn’t do the work. Can you explain that?” asked reporters in a visit to Cortese’s home.

    “That’s a lie,” Cortese replied. He then asked the news crew to leave and gave no further comment.

    Salentino later found out that Cortese is listed on Suffolk County Consumer Affairs’ “Wall of Shame” for operating without a contractor’s license. The public registry includes contractors’ names, businesses, aliases, addresses and the reason they’re listed.

    Cortese’s entry includes the Tool Time Construction Group, his addresses, and states he was first listed in June of 2023 — nearly two years before the Salentinos hired him.

    [Consumer Affairs] Commissioner Wayne Rogers told Newsday that the agency does have a fund to reimburse homeowners up to $5,000 when licensed contractors do poor work. But there’s a catch — the contractor must be licensed.

    "If they’re not licensed, there’s nothing we can do," he said.

    Since Cortese is unlicensed, the Salentino family is ineligible for that fund.

    In the meantime, they remain in their camper while a new contractor tries to complete the home. But the family is facing new delays and higher costs as that company undoes Cortese’s work. Suffolk County police are investigating.

    Read more: You don’t have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here’s how

    How to avoid falling victim to scam contractors

    Stories like the Salentino family’s are all too common — and unfortunately, legal protections can be limited, especially when unlicensed contractors are involved. Without access to the Consumer Affairs fund, the family’s only remaining option may be civil court, which is costly and time-consuming.

    If you’re in a similar situation, here are some steps you can take:

    • File a complaint with your local Consumer Affairs department or licensing agency.
    • Document everything: Save contracts, receipts, photos and any communications with the contractor.
    • Report suspected fraud to police, especially if you believe money was taken with no intent to complete the job.
    • Consult with a lawyer if the financial loss is significant.
    • Check for local recovery funds, which some counties or state agencies offer for licensed contractor failures.

    The best protection, though, starts before you make any payments. Here’s how to safeguard yourself:

    • Verify their license: In New York, contractors must be licensed through the county. Suffolk County has a searchable public registry.
    • Check the “Wall of Shame” or similar databases that track unlicensed or fraudulent contractors.
    • Read online reviews: Look at Google, company websites and forums. Search the business name for complaints.
    • Avoid large upfront payments: Reputable contractors typically ask for a deposit, with additional payments tied to project milestones.
    • Get everything in writing: A contract should include a timeline, materials list and payment schedule.

    With their savings drained and their home unfinished, the Salentino family is left trying to recover emotionally and financially. As the investigation continues, they hope their story prevents another family from seeing their dream fall apart.

    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.

  • I’m 53 and an accident last year sent me to the ER, leaving me with a $2.7K medical bill I never paid. Now, a debt collector is calling me saying it’s increased to $3K. What do I do?

    I’m 53 and an accident last year sent me to the ER, leaving me with a $2.7K medical bill I never paid. Now, a debt collector is calling me saying it’s increased to $3K. What do I do?

    Last year, Ted got hit with a surprise $2,700 bill after an ER visit. When he missed a follow-up call from a collections agency, the bill ballooned to nearly $3,000.

    Now, he’s getting nonstop calls from debt collectors and doesn’t know what to do.

    Don’t miss

    Ted, 53, is one of millions of Americans dealing with medical debt. The most recent Census Bureau Survey of Income and Program Participation (SIPP) found that 15% of households owed medical debt in 2021.

    A 2021 Kaiser Family Foundation (KFF) poll, which used a broader definition of medical debt that included credit card charges and money owed to family members, found that 41% of American adults carried some form of medical debt.

    KFF’s analysis of the SIPP report showed that about 6% of U.S. adults — 14 million people — owe more than $1,000. Around 2% (6 million people) owe more than $5,000, and 1% (3 million people) owe more than $10,000 in medical debt.

    Know your rights

    Ted’s first step is to make sure that his bill is legal. He’s insured through work, so under the No Surprises Act, he shouldn’t be charged more for an out-of-network ER visit than he would be for an in-network one.

    While that may not apply to Ted’s case specifically, the law also protects against surprise bills for non-emergency, out-of-network care related to certain in-network visits and air ambulance services. If you’re unsure about a bill, you can call the No Surprises Help Desk run by the Centers for Medicare & Medicaid Services.

    If you don’t use insurance — either because you don’t have any or choose not to — and you book your appointment at least three business days in advance, providers are typically required to give you a written good-faith estimate of expected charges. This should include facility and hospital fees.

    If the provider doesn’t automatically give you the estimate, ask for it. If your care involves multiple providers, you’ll need separate estimates from each one.

    If your final bill is $400 or more above the estimate, you can dispute it through the Centers for Medicare & Medicaid Services. While the dispute is being reviewed, the provider can’t initiate collections — and if the bill has already been sent to collections, that process must be paused during the dispute.

    If a debt collector contacts you about an out-of-network or surprise medical bill, you can file a complaint with the Consumer Financial Protection Bureau (CFPB) online or by calling 1-855-411-2372.

    You should also contact the CFPB if a medical charge appears on your credit report. As of July 1, 2022, paid medical collection debt and debt under $500 shouldn’t show up on credit reports. Unpaid medical debt must be at least a year old before it appears.

    Debt collectors also have specific rules about how and when they can contact you, outlined in the CFPB’s Debt Collection Rule.

    Ted should go over his bill to make sure it reflects the care he actually received. He should check for duplicate charges or errors. If anything looks unusual or he has questions, he should call the hospital’s billing department for clarification.

    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

    Try negotiating and seek help

    Once you’ve reviewed your bill, you may be able to negotiate a lower amount or set up a payment plan with the hospital. Some providers even offer a discount if you pay promptly. But it’s important to act before the bill goes to collections. At that point, you’ll have to deal with the collections agency — which means it’s already too late for Ted to negotiate with the hospital directly.

    If the bill is large, you might consider working with a medical bill negotiator who can try to lower the amount on your behalf.

    If you’re uninsured or underinsured, you may qualify for financial help through the hospital. The Affordable Care Act (ACA) requires hospitals to have a written Financial Assistance Policy (FAP) and an Emergency Medical Care policy. These programs may allow you to get free or reduced-cost care. You’ll need to fill out an application and provide financial documents, but you can ask debt collectors to pause collection efforts while your application is under review.

    Several charities and government programs also offer support for medical debt, travel expenses and medical equipment. You may want to work with a patient advocate who can help you navigate the health care system, understand your bill and find assistance.

    Ted’s story underscores one key lesson: Don’t wait. It takes time to apply for help and get approved, and you’ll want to set up a payment plan before the account is sent to collections.

    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.

  • Trump says Americans ‘have eggs for breakfast again’ — claims prices have come down a staggering 400%. But is his math all scrambled?

    Trump says Americans ‘have eggs for breakfast again’ — claims prices have come down a staggering 400%. But is his math all scrambled?

    We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

    High egg prices have surprised many Americans over the past few years — from viral TikToks showing $12 cartons to the question “Why are eggs so expensive?” climbing to the top of Google search trends. But according to President Donald Trump, the situation has taken a dramatic turn.

    “Remember eggs? We weren’t able to buy another egg for the next 20 years — they were so expensive, right?” Trump recently told reporters at the White House. “Eggs have come down 400%. Everybody has eggs now. They have eggs for breakfast again.”

    A clip of the speech has gone viral on social media, with users questioning the math behind Trump’s claim. After all, a 100% drop would mean prices fell to zero. A 400% drop would imply prices have turned negative — which clearly hasn’t happened.

    Don’t miss

    So, how much have egg prices actually dropped?

    According to the U.S. Department of Agriculture’s Egg Markets Overview dated June 6, 2025, the national wholesale price for eggs is $2.63 per dozen. That’s down from $6.55 per dozen during the week ending Jan. 24, 2025 — a decline of roughly 60% since Trump’s inauguration. A sharp drop, no doubt, but a far cry from 400%.

    Of course, eggs are just one part of the grocery bill, and food prices remain a burden for many American households. The Food in U.S. City Average Consumer Price Index has climbed roughly 26% over the past five years, according to the Bureau of Labor Statistics.

    In other words, while headline inflation has cooled since peaking at a 40-year high of 9.1% in June 2022, food prices remain stubbornly high. The USDA projects overall food prices will rise another 2.9% in 2025.

    The blunt reality is, inflation is still chipping away at Americans’ purchasing power. The good news? Throughout history, savvy investors have often found ways to shield themselves from inflation’s bite — regardless of who’s in the White House.

    A classic safe haven

    When it comes to preserving wealth and guarding against inflation, few assets have stood the test of time like gold.

    Its appeal is simple. Unlike fiat currency, the yellow metal can’t be printed at will by central banks.

    Gold is also considered a classic safe haven. It’s not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

    That may help explain why, while markets are getting whipsawed by tariff uncertainty and global tensions, gold has emerged as a bright spot. Over the past 12 months, the price of the precious metal has surged by more than 40%.

    One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.

    Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.

    To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.

    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

    A time-tested income play

    Gold isn’t the only asset investors turn to during inflationary times. Real estate has also proven to be a powerful hedge.

    When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that adjusts for inflation.

    Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has jumped by more than 50%, reflecting strong demand and limited housing supply.

    One way to invest in real estate is by purchasing rental properties and becoming a landlord. But for the average American who wants to avoid the need for a hefty down payment or the burden of property management, crowdfunding platforms like Arrived make it easier to slice yourself up a piece of that pie.

    Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants.

    The process is simple: Browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you’d like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment.

    Another option is Homeshares, which gives accredited investors access to the $35 trillion U.S. home equity market — a space that’s historically been the exclusive playground of institutional investors.

    With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

    With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

    A finer alternative

    It’s easy to see why great works of art tend to appreciate over time. Supply is limited and many famous pieces have already been snatched up by museums and collectors. Art also has a low correlation with stocks and bonds, which helps with diversification.

    In 2022, a collection of art owned by the late Microsoft Co-founder Paul Allen sold for $1.5 billion at Christie’s New York, making it the most valuable collection in auction history.

    Investing in art was traditionally a privilege reserved for the ultra-wealthy.

    Now, that’s changed with Masterworks — a platform for investing in shares of blue-chip artwork by renowned artists, including Pablo Picasso, Jean-Michel Basquiat and Banksy. It’s easy to use, and with 23 successful exits to date, every one of them has been profitable thus far.

    Simply browse their impressive portfolio of paintings and choose how many shares you’d like to buy. Masterworks will handle all the details, making high-end art investments both accessible and effortless.

    Masterworks has distributed roughly $61 million back to investors. New offerings have sold out in minutes, but you can skip their waitlist here.

    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 Philadelphia man took a special offer from T-Mobile that seemed ‘too good to be true’ — and his next bill proved that gut feeling right. But that was just the start of his troubles

    Joe Dipiero was a happy T-Mobile customer for more than two decades when the company offered him an incredible deal — though perhaps a little too incredible.

    When Dipiero decided to set up a separate internet connection for his plumbing business, he naturally decided to go with his trusted carrier. After all, the Dipiero family had been on the T-Mobile family plan for a long time.

    Don’t miss

    A few months after that internet connection was set up, a T-Mobile sales rep called Dipiero offering what sounded like an incredible deal if he migrated the family’s phone plan over to the business account. According to the sales rep, for just $170 a month, the Dipiero family would get four free iPhones — three iPhone 16 Pros and one iPhone 15 — as well as upgrades to the family’s modems.

    “I thought it was too good to be true,” Dipiero told NBC10 Responds.

    Despite Joe’s reservations, the Dipieros made the switch. But about a month later, Joe logged into his T-Mobile account and found a bill for $515.90 — more than three times the amount that he agreed to.

    ‘There’s just no way this is happening’

    Dipiero went on to spend several months locked in a battle with T-Mobile over his bill. After struggling to get in touch with the rep who sold him the plan, the rep eventually told Dipiero that the $515.90 bill was an error and that T-Mobile was “looking into it.”

    However, Dipiero was shocked when the next month’s bill came with a $821.59 charge.

    “I was like, ‘There’s just no way this is happening,’” he said.

    When he told the sales rep he was ready to send back the phones and cancel the plan, the rep told him not to pay the bill, assuring Dipiero that T-Mobile was “taking care of it.’” But the rep was wrong. Dipiero then started receiving repeated text messages from T-Mobile threatening to shut off his phone for non-payment, which the carrier eventually did.

    “And at that point, I lost it,” Dipiero recalled.

    Sick of getting the runaround, the Dipieros reached out to NBC10 Responds for help. When the investigative team reached out to T-Mobile for comment, the company once again said it was “looking into it.”

    Two weeks later, T-Mobile said the matter had been forwarded to the company’s Care Team. A senior manager then reached out to Dipiero and said T-Mobile would take care of everything.

    Dipiero’s next bill, coming in at -$334.45, reflected that promise. That negative balance was the result of T-Mobile clearing the previous bills and crediting the Dipieros’s account for fees paid during the ordeal.

    While T-Mobile told NBC10 Responds that it could not share customer details, the company did provide a statement.

    “If customers make changes to their account after their initial account setup without working with our Care Team, there could be impacts to their promo eligibility,” T-Mobile said in its statement.

    The Dipieros, however, only worked with the sales rep that sold the plan to the family and were never advised to speak with the Care Team.

    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

    T-Mobile’s alleged overbilling is well documented

    This is not the first time T-Mobile has been in the news over accusations of overcharging customers.

    In 2024, a T-Mobile customer was overcharged $5,704 over 23 months after he canceled six business lines, according to the U.S. Sun. When the customer raised the issue with T-Mobile, the company said it would only give the customer a refund from the last 90 days.

    Now, nearly two dozen frustrated customers have launched a class-action lawsuit in California against T-Mobile, claiming the company has been charging customers a hidden fee disguised as a government-mandated charge.

    The fee in question is called the "Regulatory Programs and Telco Recovery Fee," which the company introduced in 2004 and costs $3.49 per line each month. T-Mobile allegedly bundled this charge in the "Government Taxes and Fees" section of its customer’s bills.

    How to fight back against overbilling

    When facing unexpected charges, consumers aren’t without recourse. Several federal and state regulations provide specific protections against deceptive telecom billing practices.

    The FCC’s Truth-in-Billing rules require carriers to describe all charges in plain language and refrain from providing misleading descriptions of charges. State consumer protection laws often provide additional safeguards, as many state attorneys general actively investigate telecom billing complaints, with the power to secure refunds and penalties for violations.

    If you find yourself in a similar situation as the Dipiero family, here are a few steps you can take to address the issue:

    • Contact the company responsible for overbilling and let them know about your issue
    • Document all communications with the company’s representatives
    • Request written confirmation of any promised promotions or rates
    • If the company isn’t helpful, file complaints with the FCC or your state’s attorney general
    • If all else fails, contact your local news outlet to expose the company’s overbilling

    As the Dipieros discovered, media pressure can be effective when consumer complaints fail.

    "I think you guys did an awesome job," said Dipiero of NBC10 Responds’s assistance.

    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.