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  • Florida police are sounding the alarm on a sharp spike in reports of overnight wheel thefts — and they say these 2 models are the ‘prime targets.’ How to offset the risk to your ride

    Florida police are sounding the alarm on a sharp spike in reports of overnight wheel thefts — and they say these 2 models are the ‘prime targets.’ How to offset the risk to your ride

    Since the start of 2025, central Florida law enforcement agencies have reported a sharp uptick in the theft of car rims, with Toyota Camrys and Corollas emerging as prime targets.

    The Orange County Sheriff’s Office have urged residents — particularly those in apartment complexes — to remain vigilant after several vehicles have been found without their rims after overnight thefts.

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    It’s a scenario all too familiar to local mechanics, says Kasey Chouait, owner of Charley’s Tire and Wheels in Orlando.

    “People go outside and their cars are sitting on bricks,” he told WESH News.

    Toyota Camrys and Corollas at risk

    Investigators say thieves are primarily targeting sedans left in poorly lit parking lots.

    The Orange County Sheriff’s Office noted on social media that most incidents involve vehicles parked overnight in apartment complexes. Limited lighting and few security cameras offer would-be criminals an easy score.

    In each reported case, the missing rims were from Toyotas, which can hold substantial resale value on the secondary market.

    “If you go buy a factory wheel from the Toyota dealer, it’s gonna cost per wheel maybe $300 to $400 dollars,” Jeff Beaty at Sloan’s Automotive told Fox35 Orlando.

    According to RepairPal, the average cost for a single replacement of a Toyota Camry wheel can run between $657 and $685. Multiply those figures by four and a full replacement bill could exceed $3,000, with taxes and labour.

    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

    Rise in wheel theft

    "Some rims are very sought after," Chouait said. "And some people know which rims are expensive and worthy of taking a chance, and basically committing that crime."

    The surge in car wheel theft is underpinned by a broader shift in theft patterns driven by supply-chain disruptions and inflation.

    A recent CargoNet report highlighted a shift in cargo theft toward high-value metals. For example, copper theft rose 85% in the first quarter of 2025 alone, underscoring how volatile raw material prices have made metal components more lucrative.

    PropertyCasualty360.com reports that wheel-and-tire theft claims range from $175 to $17,000 — and can climb as high as $40,000. On average, replacing four wheels and tires on-site costs approximately $2,800.

    The National Insurance Crime Bureau reports that tire-and-rim thieves can net up to $400 per set; resellers then flip them for as much as $900 to small dealers or repair shops. In turn, repair shops resell to vehicle owners and bill insurers up to $1,300 when the parts are reinstalled.

    Invest in rim locks

    To counteract the trend, authorities and auto professionals urge simple precautions.

    The Orange County Sheriff’s Office encourages parking in well-lit areas near surveillance cameras and installing locking lug nuts or “rim locks,” which can range from $20 to $50 per set.

    "The best ones are the factory ones; they’re very hard to break, So, these people, they’re very good at doing that," Chouait told WESH News reporters. "But if you have a good lock on it, at least you make it difficult for them to steal it."

    For residents of apartment complexes without adequate lighting, a good tip is to request additional security measures — such as motion-activated floodlights or cameras, which can help serve as a deterrent.

    As the region braces for more potential thefts, experts stress that vigilance and low-cost security investments are the most effective line of defense.

    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.

  • Elon Musk endorsed Warren Buffett’s ‘5-minute’ fix for America’s multi-trillion debt problem — and 1 senator is drafting constitutional change to make it real. Do you think it’ll work?

    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.

    The U.S. government has been running budget deficits for years — consistently spending more than it collects. And while neither party has managed to rein in the red ink, legendary investor Warren Buffett once offered a surprisingly simple fix.

    "I could end the deficit in five minutes,” Buffett told CNBC’s Becky Quick in a 2011 interview. “You just pass a law that says that any time there’s a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election.”

    Now, that old clip is going viral again — and it’s gaining fresh support in high places.

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    Utah Senator Mike Lee reposted the video on X, asking the public, “Would you support this amendment?”

    The question sparked a wave of responses, including one from Tesla CEO and X owner Elon Musk, who replied: “100%. This is the way.”

    But Lee isn’t just crowdsourcing opinions — he’s trying to turn the idea into a reality.

    “I’m drafting a constitutional amendment to oust every member of Congress whenever inflation exceeds 3%. It’s better to disqualify politicians than for an entire nation to suffer under the yoke of inflation,” he wrote on X.

    A bold fix — but the numbers don’t look good for lawmakers

    While Lee referenced both inflation and deficits, the logic echoes Buffett’s frustration: tying lawmakers’ job security to the nation’s fiscal health.

    Economists have long noted a connection between excessive government spending and inflation. The late Nobel Prize–winning economist Milton Friedman once famously said, “What produces [inflation] is too much government spending and too much government creation of money and nothing else,” adding, “Only Washington can create money.”

    But enshrining that accountability into law — especially one that threatens every member of Congress with job loss — is a heavy lift.

    Buffett’s threshold was a deficit of more than 3% of GDP. In fiscal 2024, the U.S. economy generated $28.83 trillion in GDP, while the federal government spent $6.75 trillion and collected $4.92 trillion in revenue. That left a $1.83 trillion deficit — or 6.3% of GDP.

    By Buffett’s rule, every sitting member of Congress would be out — and many X users were quick to point that out.

    “The only problem is that the people we are suggesting be fired are the ones who get to vote on that. And they’re never going to vote for their own cancellation,” X user Lorrie Ann wrote. “This is why we need term limits and why they won’t even entertain the idea!”

    While the odds of implementing Buffett’s fix to solve America’s deficit problem are slim, there are plenty of tactics you can use to improve your own fiscal health — and in this case, your vote is the only one that counts.

    Here are a few ways to avoid running a deficit — and start building a personal surplus — in 2025 and beyond.

    Cutting waste from your spending

    If you want to improve your finances, the first step is understanding where your money goes each month. Track all your expenses for 30 days, then sort them into two categories: necessities — like rent, groceries, utilities and health care — and discretionary spending, such as dining out, entertainment, shopping and hobbies.

    This breakdown gives you a clear picture of your spending habits and helps identify areas where you can cut back. But trimming waste isn’t just about skipping lattes or takeout.

    Even in essential categories, you may be spending more than you need to. The good news? With a bit of research, those costs can often be significantly reduced.

    For instance, car insurance is a major recurring expense, and many people overpay without realizing it. According to Forbes, the average cost of full-coverage car insurance is $2,149 per year (or $179 per month).

    However, rates can vary widely depending on your state, driving history and vehicle type, and you could be paying more than necessary.

    By using OfficialCarInsurance.com, you can easily compare quotes from multiple insurers, such as Progressive, Allstate and GEICO, to ensure you’re getting the best deal.

    In just two minutes, you could find rates as low as $29 per month.

    Meanwhile, home insurance is another major expense where smart shoppers can save big.

    With OfficialHomeInsurance, comparing home insurance rates is fast and hassle-free. Just enter a few basic details and the platform will instantly sort through over 200 insurers to find you the best deals available in your area.

    You’ll be able to review all your offers in one place, and quickly find the coverage you need for the lowest possible cost, saving an average of $482 a year.

    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

    Create a steady passive income stream

    Trimming expenses is one way to create a surplus — but boosting income can be just as powerful. And while asking for a raise doesn’t always lead to results, there are ways to earn money without clocking in extra hours. That’s where passive income comes in: money that keeps flowing with minimal day-to-day effort.

    One of the most popular ways to tap into passive income potential is through real estate.

    When you own a rental property, tenants pay you rent each month — providing a steady stream of cash flow. It’s also a time-tested hedge against inflation, since both property values and rental income tend to rise along with the cost of living.

    Of course, purchasing a property requires significant capital — and finding the right tenant takes time and effort. But thanks to new investment platforms like Arrived, you don’t need to own a property outright to gain exposure to real estate.

    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 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.

    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 Daisy from Apple’: This Philadelphia man lost over $1,000,000 in 2 back-to-back scams — plus red flags to watch for next time you call a business for help

    ‘I’m Daisy from Apple’: This Philadelphia man lost over $1,000,000 in 2 back-to-back scams — plus red flags to watch for next time you call a business for help

    Joe Subach was just trying to send some money to a friend. But one phone call later, with a woman named ‘Daisy,’ and his financial situation was forever changed.

    Subach was the victim of two back-to-back scams — one that even involved him handing over his precious metals to money mules — that drained him of a whopping $1 million.

    “I worked 43 hard years for that,” he told NBC10 News Philadelphia.

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    It started out with a simple online search for Apple’s customer support number to get help sending money to a friend via Apple Pay. When he called the number, a woman picked up and said her name was Daisy, from Apple.

    What he didn’t realize until later — when it was too late — is that he called a phony number and Daisy was a fraudster.

    How the back-to-back scams worked

    In this case, Subach was the victim of a double fraud, starting with a customer service scam and then progressing into a romance scam.

    When he first called the number, he says ‘Daisy’ told him that his account had been hacked and his identity had been compromised. She then told him he needed to buy gift cards, scratch off the backs and send her the numbers, which was part of the process to protect his money.

    But the scam didn’t end there. Daisy told Subach that they’d have to monitor his phone 24/7.

    “And so, her number was scrolling at the top of my phone the whole time,” he told NBC10.

    Over the next few months, the customer service scam evolved into a romance scam where the two would text every day — even cooking meals at the same time and sharing photos of their food.

    After earning his trust, ‘Daisy’ took the scam one step further by offering to protect all of his assets.

    “I told her I have gold and silver with Equity Trust Company,” Subach told NBC10. ‘Daisy’ then told him to take all of his gold and silver out of his depository and she’d have someone come to his house and pick it up. Subach said he loaded his own gold and silver — valued at $780,000 — into the back of the vehicle.

    The person driving the vehicle was likely a money mule, a person who is recruited to transfer stolen or illicit funds (or, in this case, precious metals).

    “We look at the money mule dynamic in two different buckets,” Nicole Senegar, the FBI assistant special agent in charge in Philadelphia, told NBC10, explaining that sometimes they are in on the scam, taking a cut, but in other cases they can be unwitting victims.

    According to the United States Attorney’s Office, “Fraudsters rely on money mules to facilitate a range of fraud schemes, including those that predominantly impact older Americans, such as lottery fraud, romance scams and grandparent scams.”

    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 protect yourself

    To avoid being scammed by a fraudster like ‘Daisy’ and handing over your hard-earned cash to a money mule, be aware of red flags.

    For starters, keep on the lookout for fake or lookalike websites, warns the Better Business Bureau, and fake customer service support numbers. If the domain name of a website has a minor error (say, two letters are swapped), then it could be a fake. And, never click on links or call phone numbers in unsolicited emails or text messages.

    A classic warning sign is if someone asks you “to wire them money, send cryptocurrency, send money by courier, send money over a payment app, or put money on a prepaid card or gift card and send it to them or give them the numbers on the card,” according to the Consumer Financial Protection Bureau.

    So, for example, if you call a customer support number and the person on the other end of the line asks you to send numbers on gift cards, that’s an immediate red flag. If something seems off, hang up and check that you’re going to the actual company’s website. You can also try using a website checker, such as Google’s Safe Browsing tool. And, never hand over cash or precious metals to a stranger.

    But you also want to avoid becoming a money mule as part of a larger scam. According to the FBI, criminals approach people looking for work or romance and try to turn them into mules.

    “Criminals recruit money mules to help launder proceeds derived from online scams and frauds or crimes like human trafficking and drug trafficking. Money mules add layers of distance between crime victims and criminals, which makes it harder for law enforcement to accurately trace money trails,” says the FBI.

    Don’t accept jobs that require you to use your own bank account to transfer money, a legitimate company wouldn’t ask you to do this, the FBI warns, adding that people should also “be suspicious if an individual you met on a dating website wants to use your bank account for receiving and forwarding money.”

    Another warning sign, says the FBI, is if you’re asked to “process” or “transfer” funds through a wire transfer, automated clearing house or money service business — and, for your efforts, you can keep a portion of the money you transfer.

    If caught, you could face federal charges such as mail fraud, wire fraud, bank fraud, money laundering and aggravated identity theft. And, that’s the case even if you aren’t aware you’re committing a crime.

    As for Subach, he realized he’d been scammed after his money was gone — and so was Daisy. So far, no arrests have been made.

    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.

  • Over 30 million American homes don’t have a mortgage right now, report says — and that’s 1 big red flag for the US housing market. Do you own your home free and clear?

    Over 30 million American homes don’t have a mortgage right now, report says — and that’s 1 big red flag for the US housing market. Do you own your home free and clear?

    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.

    Housing affordability has become a pressing issue in America — with studies suggesting that buyers now need a six-figure salary to comfortably cover the mortgage on a typical home. Yet millions of Americans already own their homes outright.

    According to Fortune, citing a recently published Goldman Sachs note, the share of U.S. homeowners without a mortgage rose from 33% in 2010 to 40% in 2023. Assuming there are 86 million homes nationwide, the outlet estimates more than 30 million are now owned free and clear.

    As more Americans pay off their homes, equity continues to build. ICE Mortgage Technology estimated that heading into the second quarter of 2025 U.S. mortgage borrowers held $11.5 trillion in “tappable” home equity — or equity available for borrowing while maintaining at least a 20% cushion.

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    While it’s possible to access that equity through loans or lines of credit, Goldman Sachs notes that homeowners today are far less eager to tap into it than they were in the early 2000s.

    “Rather, borrowers have focused on paying down their mortgages and owning their homes outright,” said Goldman Sachs analyst Arun Manohar, per Fortune.

    A major driver of this growing equity is the sharp increase in home values. Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has climbed more than 50%.

    That may be good news for existing homeowners — but for first-time buyers, the picture is far more challenging, especially with mortgage rates still elevated.

    According to the National Association of Realtors, the share of first-time home buyers in the U.S. fell to just 24% in 2024 — a record low — down from 32% a year prior.

    Fortune called the situation both “a warning sign” and a “chicken-and-egg” dilemma — noting that many older homeowners who bought their properties decades ago aren’t downsizing, largely due to fears of today’s higher mortgage rates. With that inventory staying off the market, supply remains tight and prices stay elevated — making it even harder for younger generations to break into homeownership.

    Getting on the real estate ladder

    So, just how difficult is it to buy a home in America today?

    According to Realtor.com, a typical household would need to earn $118,530 annually to afford a median-priced home of $402,500 in the U.S. — more than 50% higher than the current median household income of about $77,700. In pricier states like California, the income requirement can soar even higher: a household would need to earn a whopping $210,557 a year to afford a typical home in the Golden State.

    Still, real estate remains a popular path to building wealth.

    For one, it’s a classic hedge against inflation. As inflation rises, home values tend to increase as well, reflecting higher costs for materials, labor and land. Rental income often follows suit, providing landlords with a stream of income that can adjust with inflation.

    Second, while real estate moves in cycles, it doesn’t require a booming market to deliver returns. Even in a downturn, high-quality, essential properties can continue to generate passive income through rent. In other words, the asset can work for you — regardless of broader market conditions.

    The best part? You don’t need to buy a property outright to invest in real estate.

    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

    Become a real estate mogul — starting with $100

    Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to America’s real estate market.

    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.

    Tap into the multitrillion-dollar home equity market.

    Americans have built substantial wealth through homeownership, but the $35 trillion U.S. home equity market has historically been the exclusive playground of large institutions.

    Homeshares is changing the game by allowing accredited investors to 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.

    Be the landlord of Walmart

    If you’ve ever been a landlord, you know how important it is to have reliable tenants.

    How do grocery stores sound?

    That’s where First National Realty Partners (FNRP) comes in. The platform 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.

  • ‘I’m out $15,000 and a home’: Over 50 Houston families evicted from mobile home park — some were still charged rent after leaving, advocates say. How you can protect yourself as a tenant

    ‘I’m out $15,000 and a home’: Over 50 Houston families evicted from mobile home park — some were still charged rent after leaving, advocates say. How you can protect yourself as a tenant

    Taking up residence in a mobile home park can be an economical means of putting a roof over one’s head.

    But more than 50 families at County Road Mobile Home Park in Houston, Texas, were displaced after the land they were living on was sold, according to KHOU 11 News. Residents had until April 8 to move out, and some were forced to spend thousands of dollars to relocate.

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    Marta De La Garza, who lived in the park with her family for five years, says she had to shell out $9,000 — $3,000 for transportation and $6,000 to set up utilities — to move to a new location.

    "We had to pay for the people who moved the mobile home. We had to pay a plumber again. We had to pay for electricity again," she told the local broadcaster in a story published April 9. "It was a nightmare."

    Moving costs may also not have been the only financial challenges some residents had to face. Here’s the story behind the challenging evictions, plus ways you can protect yourself as a tenant.

    A horrible experience

    Residents of County Road Mobile Home Park received eviction notices in September after the property was purchased by a company named Summit Acquisitions, per KHOU 11 News. They were first told they would need to vacate the property by the end of 2024, but that deadline was then extended until the spring.

    The forced move has been devastating for several residents, including Frankie Schwarzburg, who says her trailer was damaged beyond repair during transport and is no longer habitable.

    "I cannot live in my trailer," she told KHOU 11 News. "I’m out $15,000 and a home."

    In addition, the broadcaster reports community advocates say some former tenants were mistakenly charged rent in March and April, even after leaving, while others have been kept waiting for their security deposits to be returned.

    "They’re being charged for a place they can’t live anymore," Damaris Gonzalez of the Texas Organizing Project told KHOU 11 News.

    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

    Former residents are calling on legislators to strengthen rights for mobile home owners. State Sen. Molly Cook told the broadcaster she’s introduced a number of bills aimed at addressing these issues.

    "I don’t hear people talking about manufactured homes enough," Cook told KHOU 11 News. "The reality is that this is what makes the American dream accessible to so many Texans."

    The broadcaster says neither the former property manager nor the new owners immediately responded to requests for comment.

    Know your rights as a tenant

    If you’re facing eviction, it’s important to understand your rights. You should know that while you can be evicted for failing to comply with the terms of your lease, your landlord can also choose not to renew your lease.

    Different states may have different laws regarding evictions. In Texas, for example, you’ll typically be given a notice to vacate. This is not an eviction, and your landlord must give at least three days to vacate. If you don’t move out by that deadline, your landlord can file an eviction suit with the court.

    From there, you may have to appear in court to try to state your case (assuming you want to stay in your home). After a judgment is made, either side has the option to appeal the decision within five days. If you lose and don’t appeal yet refuse to move, your landlord can ask the court for a writ of possession and you’ll then have 24 hours to vacate the property. If you don’t, your belongings may then be removed from the property.

    It’s important to understand how the eviction process works. If you feel you need help with your case, you may want to consider consulting an attorney.

    It’s also important to keep detailed records of communications between you and your landlord in an eviction situation. For example, if you’re being evicted due to violating a lease term and you can prove you didn’t, that’s something to bring to your eviction hearing. You should also document any interaction between you and your landlord where you feel your rights as a tenant were violated.

    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 67, retired and was bored out of my mind until I found a side hustle to keep myself busy while earning extra cash. Here’s how you can stay engaged in your golden years

    I’m 67, retired and was bored out of my mind until I found a side hustle to keep myself busy while earning extra cash. Here’s how you can stay engaged in your golden years

    After decades in the workforce, the prospect of a relaxing retirement might seem like paradise. Imagine waking up without an alarm, enjoying leisurely mornings and finally diving into all those hobbies you’ve dreamed about for years. Sounds perfect, right?

    But what happens when the novelty wears off and boredom creeps in?

    Picture this: Jake is 67 years old, one year into retirement and the leisurely lifestyle isn’t as fulfilling as he expected. Restlessness has him craving the stimulation and social connections work once provided. On top of that, the Canada Pension Plan (CPP) cheques feel a little underwhelming, which had him thinking about re-entering the workforce.

    If this description puts a fright in you, you’re not alone. A 2024 report from the National Institute on Ageing found that 43% of Canadians over the age of 50 are at risk of social isolation, while 59% experience some degree of loneliness. Additionally, 36% of Canadians over the age of 50 have very (13%) or somewhat (23%) weak social networks.

    So, what’s a frustrated retiree to do? Lucky for Jake, he found a solution. He decided to work as a driver for a ride share and courier company. Now, he gets the social interaction he craves while making a bit of cash. He also works only a limited number of hours.

    If you want to go back to work, you don’t have to jump straight back into a 40-hour workweek. Even a part-time gig can offer financial, psychological and lifestyle benefits. Let’s dive into why staying busy could be your secret to a truly satisfying retirement.

    Mental stimulation

    Picking up a side gig or part-time work during retirement is more than financially rewarding, it can also keep you socially engaged. Work provides plenty of opportunities for social interaction, either with customers or coworkers.

    It can also encourage a structured routine, helping to restore a sense of control and purpose. The American Psychiatric Association notes how some research indicates those who maintain a clear purpose experience less stress and greater resilience in challenging situations.

    Your expertise has value. If you find work in your old field — let’s say through consulting or freelancing — you have an opportunity to both refine your skills and pass on what you’ve learned. Sharing and growing your knowledge can be gratifying, and you can make a few extra bucks while you’re at it.

    Financial benefits

    Living on a fixed or limited income can be stressful, especially if you’re trying to balance achieving your retirement goals with paying the bills. Getting a side gig can help ease some of this stress, giving you extra cash flow for expenses that the CPP won’t cover.

    Even better, returning to work and finding a gig offering health benefits might cover reduce any prescription costs you may have.

    While your CPP payments get adjusted annually the longer you wait to start collecting it (8.4% per year), for many seniors this may not be sufficient in the current cost of living crisis. A side hustle can help limit uncomfortable belt-tightening so you can have money to travel, spend time with family and cross off some of your bucket-list items.

    Thankfully, if you choose to continue to work in some capacity after 60 (when you are eligible to receive CPP), you will not reduce how much you earn from the benefit. In fact, you could increase it by means of the CPP post-retirement benefit. The government will automatically pay you this benefit the following year and you’ll receive it for the rest of your life. However, CPP contributions will be cut off when you reach 70 years of age, even if you’re still employed in some capacity.

    Preparing for the calm

    If you’re nearing retirement and fearing a perceived boredom of life after your career, there’s still time to plan for a stimulating and fulfilling retirement. Let’s look at some ways you can prepare for the lifestyle change:

    Experiment now, avoid trouble later: There’s no time like the present — why not pick up some different hobbies before you retire? If you find one or more that really interest you, make that your passion project once you finish work. Consider picking an activity that can involve social interaction via clubs or classes you can join. That way, you get the benefits of social engagement and mental stimulation.

    Prepare a routine: Create a daily or weekly structured routine before retirement. In his 2022 TEDx Talk, Dr. Riley Moynes, author of The Four Phases of Retirement, says that phase two for retirees can bring on a sense of loss in identity and purpose. Avoid this by setting daily tasks and focusing on ways to keep yourself busy, ahead of time.

    Stay near friends and family: If you’re able, retiring near friends and family can provide a nearby support network and help avoid social isolation and loneliness. If you and your spouse are retiring together, consider building a plan that keeps you both active, engaged and communicative with each other.

    Sources

    1. National Institute on Ageing: Perspectives ongrowing older in Canada: The 2024 NIA Ageing in Canada Survey survey, by Natalie Iciaszczyk; Gabrielle Gallant; Talia Bronstein; Alyssa Brierley; Dr. Samir Sinha (Jan 28, 2025)

    2. American Psychiatric Association: Purpose in Life Can Lead to Less Stress, Better Mental Well-being (Dec 7, 2023)

    3. YouTube: The 4 phases of retirement | Dr. Riley Moynes | TEDxSurrey (May 26, 2022)

    This article I’m 67, retired and was bored out of my mind until I found a side hustle to keep myself busy while earning extra cash. Here’s how you can stay engaged in your golden years 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.

  • Do you need a 6-figure income to retire early? No — here are 5 money-growing moves for the under-$100K set

    Do you need a 6-figure income to retire early? No — here are 5 money-growing moves for the under-$100K set

    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.

    Think retiring early is out of reach because you don’t make a six-figure salary? It takes careful planning and discipline, but that doesn’t mean it’s impossible.

    According to the 2025 EBRI/Greenwald Research Retirement Confidence Survey, about 60% of American retirees entered their golden years before turning 65, with a median retirement age of 62.

    Don’t miss

    Still, only one in 10 Americans retired before 55 — proving it’s much harder the younger you are. So if you want to join those younger retiree cohorts but don’t have a high income, you’ll likely need to make some smart money moves (and a few sacrifices).

    Here are practical steps you can take today to get on the road to retiring early.

    1. Work with a financial advisor

    Industry studies have shown that professional financial advice can add up to 5.1% to your portfolio returns. But beyond greater growth, advisors can also help you navigate complex topics such as tax efficiency strategies, optimal retirement withdrawal timing and how to make suitable investments for your goals and risk tolerance.

    FinancialAdvisor.net can support you in shaping your financial future by connecting you with expert guidance. A trusted advisor helps you make smarter choices for your retirement, and ensures you stay on track with your money objectives.

    Just answer a few questions, and the extensive online database will match you with two to three vetted advisors based on your answers.

    You can view the advisors’ profiles, read past client reviews, and schedule a free consultation with no obligation to hire.

    2. Make two budgets

    While budgeting may seem too boring to be ‘savvy,’ it truly is a key financial tool. It’s a powerful way to understand your current finances, rein in your spending if needed and then shape your financial plan accordingly. Tracking your expenditures against your budget can even reveal new obvious avenues for saving.

    Monarch Money is a money management platform that helps you budget, track spending, set goals and plan your financial future within one app. For a limited time, you can get 50% off your first year with code MONARCHVIP.

    The budgeting process is also a great opportunity to make sure you’re paying the best rates for monthly necessities, like insurance.

    OfficialCarInsurance.com makes comparing multiple insurance companies easier than ever. They’ll ask you some quick questions then sort through leading insurance companies in your area, ensuring you find the lowest rate possible. The process is 100% free and won’t affect your credit score.

    Similarly, OfficialHomeInsurance.com can help you get great rates to protect your home. All it takes is two minutes for them to comb through over 200 insurers — for free — to find the best deal in your area. The process can be done entirely online.

    After tracking and assessing your budget over a few months, you can use that data to estimate your future retirement budget — setting a clear target. You’ll want to review this retirement budget periodically and make adjustments as needed.

    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

    3. Automate your investments

    To join the Financial Independence and Retire Early (FIRE) movement and retire in your 30s or 40s, you may need to save more than the 15% that’s often suggested. When it comes to retiring early, that number might end up much closer to 75% of your income.

    Regardless of the specific retirement age you’re aiming for, you’ll need discipline to reach any early retirement goal. Automating your investments is an easy way to make that process happen in the background, without much extra thought.

    You can make 401(k) contributions directly from your paycheck, but you can also set up direct deposit into a high interest savings or investment account.

    There are several apps that can help you automate your investments, including Wealthfront Investing.

    Their "set it and forget it" approach means your money is professionally managed and automatically rebalanced, allowing your wealth to grow steadily over time. Wealthfront offers up to 17 global asset classes to help diversify your portfolio.

    If you open a Wealthfront account today, you can snag a $50 bonus.

    4. Manage your debt

    If you’re carrying a large balance on a credit card or any other high-interest debt, it will be hard to retire early. The savviest move is not to carry a balance at all — but life happens, so if you do have one, paying it down should be your top financial priority (along with building an emergency fund).

    If you have substantial equity in your home, consider consolidating your debts and paying them down with a HELOC. A HELOC is a secured line of credit that leverages your home as collateral. Depending on the value of your home and the remaining balance on your mortgage, you may be able to borrow funds at a lower interest rate from a lender as a form of revolving credit.

    LendingTree’s marketplace connects you with top lenders offering competitive HELOC rates. Instead of going through the hassle of shopping for loans at individual banks or credit unions, LendingTree lets you compare multiple offers in one place. This helps you find the best HELOC for your situation. Terms and conditions apply. NMLS#1136.

    If you don’t own a home, there are other ways to consolidate your debt. For instance, Credible can help with loan consolidation by letting you shop around for lower interest rates with just a few clicks of your mouse. In just two minutes you can compare lenders willing to consolidate your loans into one easy-to-manage payment.

    Even if you’re just curious about your options, checking rates on Credible could be a good idea. It won’t hurt your credit score, it’s totally free and it could save you a bundle.

    5. Maximize your biggest asset

    Your biggest asset is likely your stream of future earnings, so to retire early you’ll want to maximize this asset.

    While you could consider a side hustle or second job, look first at your current job and evaluate whether your time and energy might be better spent on developing your career to increase your future income stream. Consider whether you could make more from extra sales, a raise or a promotion — or if it makes more sense to take on a side gig.

    Yes, retiring early takes planning and dedication, but not necessarily a six-figure income.

    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.

  • Tariffs shake tech: Trump-era policies ripple through North American firms

    Tariffs shake tech: Trump-era policies ripple through North American firms

    Technology stocks are once again under pressure as the Trump administration revives tariffs that focus on global imports. For North American tech giants, many of which depend on complex global supply chains and Chinese manufacturing, the renewed trade friction is creating ripple effects that are reshaping earnings forecasts, production strategies and investor sentiment.

    While some Canadian investors may feel insulated, those with exposure to U.S. tech giants through exchange-traded funds (ETFs) or through direct stock holdings may already feel the impact.

    From Apple (AAPL) to Snap (SNAP), tariff-driven volatility is hitting the same high-growth names that often lead the market during boom times and drag it down in corrections. As a result, several large U.S.-based technology companies are navigating turbulent markets due to the re-imposition of Trump-era tariffs, particularly those with supply chains tied to China or that depend on global markets for sales.

    For Canadian investors looking to minimize tech sector beta — a stock’s volatility or risk in relation to the overall market — here’s what you need to know.

    1. Apple

    Apple (NASDAQ:AAPL)

    Apple (AAPL) reported a US$900 million hit in fiscal Q2 tied to tariffs, despite ongoing efforts to diversify manufacturing into India and Vietnam. Apple’s heavy dependence on Chinese suppliers continues to leave it vulnerable to future policy shifts. Following the earnings release, Apple shares dropped approximately 4% in after-hours trading.

    2. Amazon

    Amazon (NASDAQ:AMZN)

    Amazon (AMZN) has warned of higher prices and weaker sales, citing increased tariff-related costs and falling consumer demand, especially from Chinese advertisers.

    3. Qualcomm

    Qualcom (NASDAQ:QCOM)

    Although Qualcomm’s (QCOM) products remain exempt from current tariffs, the chipmaker issued a Q3 forecast below Wall Street expectations, citing broad uncertainty and declining smartphone demand.

    4. Snap Inc.

    Snap (NYSE:SNAP)

    Snap (SNAP) saw its stock plunge 14% in after-hours trading after reporting disappointing Q1 earnings. Much of its ad revenue relies on Chinese companies — spending that has declined significantly due to trade tensions and tariff restrictions.

    Pro tip: This is particularly relevant to Canadian retail investors exposed via ETFs or U.S. tech portfolios.

    5. Lucid Motors

    Lucid (NASDAQ:LCID)

    Electric vehicle manufacturer Lucid (LCID) expects an 8% to 15% increase in overall costs due to tariff implications. Still, the firm is holding to its production target of 20,000 units for 2025, though macroeconomic uncertainty and regulatory changes are putting pressure on operations.

    Pro tip: Does this form signal an emerging opportunity or risk? Watch EV cost trends in Canada to determine and take action.

    Impact on Canadian tech firms

    While Canadian tech companies have not been explicitly identified in reports, the broader business community is feeling the pressure. Firms are grappling with higher costs and are increasingly diversifying export strategies away from U.S. markets in favour of Europe and Asia.

    Broader industry disruption

    The reintroduction of Trump-era tariffs, including a baseline 10% tariff on all imports, with higher rates on goods from countries like China, has rattled supply chains and increased manufacturing costs across the tech sector. Many companies are reevaluating their supplier networks, shifting production to Mexico, Southeast Asia or the U.S.

    Investor insight: These changes may favour North American chip manufacturers, automation firms and logistics providers — potential growth sectors to watch for Canadian investors.

    What this means for Canadian investors

    For Canadian consider the following:

    • ETF exposure: Most Canadian tech-focused ETFs hold U.S. companies such as Apple, Amazon and Qualcomm. Tariff-related volatility may affect performanceo of these firms. To minimize this volatity, consider adjusting your portfolio to reflect your risk tolerance.

    • Currency factor: As the U.S. dollar strengthens during trade tensions, Canadian investors could see gains or losses depending on currency hedging in their holdings.

    • Diversification strategy: The current geopolitical climate reinforces the need for global diversification and sector balancing — particularly for tech-heavy portfolios.

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

  • What to expect when you’re expecting: First year cost for pets

    What to expect when you’re expecting: First year cost for pets

    It’s easy to go overboard when you’re getting a new pet. Whether it’s supplies, toys or even clothes, some things are just too cute to pass up. But these things quickly add up, even if you try to stick to necessities. It’s possible to budget and plan for your new furry addition, and we’ve put together a list of expenses to plan for during that first year.

    Canadians love their pets

    Pet ownership in Canada has reached new heights, with about half of households sharing their homes with furry family members. According to the Canadian Animal Health Institute, that equates to 7.9 million dogs and 8.5 million cats. While these furry companions bring immeasurable happiness and joy to our lives, it’s important to recognize and plan for the financial responsibilities that come with pet parenthood.

    The commitment extends far beyond the initial adoption or purchase costs. Pet parents need to provide essential care, including quality nutrition, regular grooming services, veterinary care and various other necessities. Statistics from Rover.com highlight a significant 12% increase in pet-related expenses since 2022, mainly due to inflation that’s caused everything from pet food to vet bills to go up in price, making financial planning more crucial than ever.

    Fortunately, by being proactive, you can manage and reduce pet care costs.. By understanding and anticipating both immediate and long-term expenses associated with pet ownership, you can develop a practical budget that ensures your beloved companion receives the best care while maintaining financial stability.

    If this is the year you’ve decided to bring home a pet, we’ve broken down the costs you can expect in the first year for a new dog or cat. We’ve focused on dog and cats for the purpose of this article as they are the most popular (and expensive) pets, but I do know there are other pets out there, such as bunnies and guinea pigs, that people love to have in their homes.

    Bringing a new dog home: First-year costs

    When you bring a new dog into your home, there are several initial expenses to consider. These one-time costs include both the price of acquiring your pet and essential supplies needed to provide proper care.

    We’ll also cover the must-have items you’ll need before welcoming your new companion, including feeding equipment, grooming tools and walking accessories.

    While these are typically considered one-time purchases, it’s important to budget for eventual replacements. Items may need to be replaced due to normal wear and tear, and puppies will outgrow their initial supplies as they mature into adult dogs. You may want to spend more on quality, brand name products that will last years instead of months. For instance, a well-made harness will cost more up front, but replacing it with a cheaper model every few months or years will add up over time.

    You can expect to pay upwards of $5,000 to $7,000 in the first year of getting a puppy (it’ll be closer to the higher end if you’re purchasing a purebred puppy from a breeder, and of course, it depends on the dog breed).

    You’re thinking to yourself “What? That much for a puppy?! But I’m planning to adopt, won’t that bring down the amount?” While most adoptable dogs are cheaper than ones from a breeder (plus, they come spayed or neutered), that’s just one piece of the puzzle. If you’re planning on bringing home an adult dog, it’s a bit cheaper — the price is more like $4,000.

    Read More: A surprise trip to the vet can cost $1,000 or more. Don’t get caught off guard. See how pet insurance can ease the stress — and cost — of caring for fur babies. Protect yourself now

    Here are just a few of the common costs that can come with the first year of puppy/dog ownership (these are approximate costs):

    • Breeder costs: $1,000 to $4,500
    • Adoption fees: $200 to $800
    • Total veterinarian bills: Around $2,000
    • Veterinary exams with vaccines: $500 to $600
    • Neuter/spay: $750 to $1,200
    • Microchip dog cost: $45 to $95
    • Deworming medication: $70 to $80
    • Pet Insurance: $600 to $1,800 per month
    • Pet food: $1,100
    • Grooming: $60 to $150
    • Collar and leash: $50
    • Bed: $30 to $70
    • Crate: $100 to $300
    • Obedience classes: $500
    • Licence: $35

    Additional costs to consider when owning a dog include pet care services like dog walkers or doggy daycare, especially if you work full-time out of the home. These services ensure your pet gets proper exercise and attention during the day. When planning vacations, you’ll need to factor in boarding facilities or pet sitting services, unless you opt for pet-friendly travel destinations.

    Property damage is another financial consideration of dog ownership. Dogs may occasionally have accidents indoors, and puppies or anxious dogs might exhibit destructive behavior like chewing furniture or causing damage to flooring and carpets (I know this one too well). It’s important to budget for potential repairs or replacements of damaged items.

    Bringing a new cat home: First-year costs

    The financial commitment of cat ownership is less than that of dogs, with Canadian pet parents spending an average of $2,542 annually on their feline friends, according to Statista. First-time kitten parents should prepare for higher initial costs compared to subsequent years of cat ownership. The Ontario Veterinary Medical Association reports that the first year of kitten care typically costs between $3,091 and $3,231. This higher first-year expense is due to one-time purchases and essential medical procedures that set your kitten up for a healthy life.

    Here are just a few of the common costs that can come with the first year of kitten/cat ownership (these are approximate costs):

    • Total veterinarian bills: $1,500 to $1,800
    • Vaccinations: $500 to $600
    • Spay/neuter: $600 to $800
    • Microchip: $45 to $95
    • Deworming medication: $70 to $80
    • Peet insurance: $29 to $35
    • Pet food: $500 to $700
    • Collar: $20
    • Bed: $50
    • Scratching post: $40
    • Litter and litter box: $275
    • Licence: $15

    Final word

    It’s easy to get in over your head when it comes to the first year of pet ownership costs. But by planning ahead and budgeting, your new dog or cat will have everything they need when you welcome them into your home.

    Sources

    1. Canadian Animal Health Institute: Biennial pet population survey shines a light on how pet population statistics changed over the course of the COVID-19 pandemic, and pet owner habits.

    2. Rover.com: Home page

    3. Statista: Annual cost of caring for a cat in Canada

    4. Ontario Veterinary Medical Association: Annual cost of caring for a cat in Canada

    This article What to expect when you’re expecting: First year cost for petsoriginally appeared on Money.ca

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

  • My wife and I just closed on our dream home — only to realize after all the bills are paid, we’re left with $200/month while she’s on mat leave. We have $80K in savings, but is it enough?

    My wife and I just closed on our dream home — only to realize after all the bills are paid, we’re left with $200/month while she’s on mat leave. We have $80K in savings, but is it enough?

    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.

    Picture this: A young couple has just closed on their dream home. They’re debt-free and have $80,000 in savings. The wife is on maternity leave, and after crunching the numbers, they realize they’ll have just $200 left over each month after paying their bills.

    It’s a classic case of being house poor: A financial situation where mortgage payments leave little room for anything else.

    Don’t miss

    This hypothetical family isn’t really that hypothetical. U.S. households spent an average of 32.9% of their income on housing in 2023, according to the Bureau of Labor Statistics. That’s a significant chunk, although still manageable.

    But, if that number creeps closer to 40% — especially with tight cash flow and limited income — it’s time to reassess.

    Here are three ways this couple could stay on track financially.

    1. Build a bare-bones budget around any surplus

    When your financial margin is razor-thin, every dollar counts. The first step? Create a strict budget where every dollar has a job and no money goes to waste.

    The couple should:

    • Break down fixed expenses like mortgage payments, insurance and utilities
    • Track variable costs including groceries, gas, baby supplies and subscriptions
    • Eliminate non-essentials like takeout, streaming services or unused memberships

    Budgeting apps can help visualize spending and find areas to trim. Even cutting $50 here or $100 there can stretch that $200 into something more sustainable.

    As new homeowners, this couple should also be aware of the add-on costs that come with homeownership — including insurance. Some couples lose out on savings because they don’t shop around for the best price on their policies, instead going with an insurer they already use.

    If you need to trim your budget to the minimum, look for a better insurance rate with OfficialHomeInsurance.com, where you can find the lowest rates on your home insurance for free.

    In under 2 minutes, OfficialHomeInsurance.com can help you browse offers tailored to your needs from a list of over 200 reputable insurance companies.

    Simply fill in a bit of information and quickly find the coverage you need at the lowest possible cost for you. On average, you can save $482 a year.

    While you’re saving money on home insurance, you might also consider whether your auto insurance is optimized for coverage and expense.

    OfficialCarInsurance.com helps you instantly sort through the best policies from car insurance providers in your area, including trusted names like Progressive, GEICO and Allstate. With rates as low as $29 per month, you can find coverage that suits your needs and potentially saves you hundreds of dollars per year.

    To get started, fill in your information and OfficialCarInsurance.com will provide a list of the top insurers in your area.

    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

    Maximizing your insurance savings can open the door to saving, and investing, hundreds of dollars more than you would otherwise.

    2. Treat $80K like a six-month lifeline

    That $80,000 in savings is a huge asset, but it needs to be used wisely.

    Here’s a potential breakdown:

    • $10,000 Emergency Fund: Set this aside and don’t touch it unless it’s a true emergency, like job loss or a major medical expense
    • $20,000–$30,000 Maternity Leave Cushion: Use this as a buffer for the next six months. That’s roughly $3,300–$5,000 per month to help fill in gaps while living on one income
    • $40,000+ Long-Term Savings: Keep this intact for future goals like investing, education or improvements. Don’t dip into it unless absolutely necessary

    Assigning a purpose to each dollar can help the couple spend confidently without jeopardizing their long-term financial stability.

    They can also stretch their budget to accommodate a bit of extra savings with Acorns.

    This platform automates investing and saving to simplify the process of setting aside extra funds. When you link Acorns to your bank account, each purchase you make is automatically rounded up to the nearest dollar. The difference is invested in a smart investment portfolio so you can grow your wealth without even thinking about it, even while you maintain a strict budget.

    Plus if you sign up today, you get a $20 bonus investment with a recurring contribution.

    Another way for this couple to stretch their existing savings is to ensure it’s deposited in a high yield savings account, so that the $40,000 balance can continue to grow.

    SoFi offers high-yield accounts that can earn you up to 3.80% APY. Plus, with no account, monthly or overdraft fees, banking with SoFi helps you keep more money in your pocket.

    The best part? You can now get up to $300 when you sign up with SoFi and set up a direct deposit.

    3. Plan for post-maternity leave finances

    This tight stretch won’t last forever.

    Once both partners are working again, the couple should shift their focus from surviving to thriving. That means:

    • Budgeting for child care now, since it can significantly reduce net income
    • Replenishing any money used from the cushion fund
    • Resuming long-term saving and investments — whether for retirement or their child’s future

    Retirement may seem like a long way off when you’re holding your first child, but planning for your future should start as early as possible. A gold IRA is one option that can help you build a stable retirement fund.

    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.

    This couple may also benefit from speaking with a financial advisor to map out a long-term strategy.

    If you’re unsure which path to take amid today’s market uncertainty, it might be a good time to connect with a financial advisor through Advisor.com.

    This online platform connects you with vetted financial advisors best suited to help you develop a plan for your new wealth.

    Just answer a few quick questions about yourself and your finances and the platform will match you with an experienced financial professional. You can view their profile, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

    You can view advisor profiles, read past client reviews, and schedule an initial consultation for free with no obligation to hire.

    If the couple can get through this tight stretch without touching their emergency fund or long-term savings, they’ll emerge stronger and more financially resilient.

    Being house poor doesn’t have to be a life sentence. With disciplined budgeting, a smart savings plan and short-term income boosts, this couple can navigate the squeeze — and still build the future of their dreams.

    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.