Category: Moneywise

In a digital post dripping with outrage, Georgia Republican Rep. Marjorie Taylor Greene echoed the claims made by Elon Musk and President Donald Trump, alleging widespread fraud within the Social Security system.

"Our own government just blindly sends checks to anyone and everyone whether citizen, non-citizen, dead or alive,” Greene said in a recent post on X, formerly Twitter. "We must end this malpractice and outright waste, fraud, and abuse. This is the mission of DOGE."

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To be fair, the Congresswoman has a reputation for making baseless allegations and promoting conspiracy theories. In previous tweets, she has claimed that 9/11 was an inside job, Jewish people control a space laser that causes wildfires and that the Sandy Hook massacre was staged.

Her latest assertion — that cracking down on “widespread” fraud can save the Social Security Administration (SSA) $1 trillion — has also been debunked.

Here’s a closer look at why experts argue that while addressing waste and fraud is necessary, it’s not a silver bullet for the nation’s safety net.

Misleading claims

The claim that the Social Security Administration “blindly” sends out checks is misleading.

Non-citizens or foreign-born workers with legal permits pay into the system at the same rate as citizens but collect fewer benefits on average, according to the Bipartisan Policy Center.

Meanwhile, undocumented workers contributed an estimated $25.7 billion in Social Security taxes — typically through borrowed or fraudulent Social Security numbers. These individuals are not eligible to receive benefits.

While the agency isn’t immune to fraud and improper payments, the overall impact is minimal.

During a press conference on March 18, Lee Dudek, the agency’s acting commissioner, estimated that annual losses due to direct deposit fraud at roughly $100 million. That represents just 0.00625% of the $1.6 trillion the government distributes annually in Social Security benefits, according to the Brookings Institute.

That figure is nowhere close to Greene’s claims of $1 trillion per year on X. Her claim would amount to 62.5% of the SSA’s total projected payouts for 2025.

Nevertheless, the Congresswoman continues to insist that tighter identity verification procedures could help reduce fraud.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Stringent ID requirements

The SSA has confirmed that updated ID policies will be implemented by April 14. Under the new rules, more people will need to visit a Social Security office in person to make changes to their direct deposit information.

Critics argue that these changes come at a time when the agency is still reeling from mass layoffs and office closures by the Trump administration’s Department of Government Efficiency. In February, the SSA announced a 12% reduction in its workforce and a reduction in field offices from 10 to 4, according to AARP.

“The customer service situation at Social Security has really declined in the past month or so,” Bill Sweeney, senior vice president of government affairs at AARP, told CNBC. He noted that the average wait time for the SSA’s 800 number rose from 11 minutes in November to 21.2 minutes.

This could be a good time to log in to your SSA account and double-check your details to ensure the agency has the correct information. If not, contact SSA to make any necessary corrections or updates and to avoid delays in receiving your benefits.

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

Jason Stanley, a Yale philosophy professor and author of How Fascism Works: The Politics of Us and Them, is leaving the United States to take up a teaching position at the University of Toronto — a decision he says is driven entirely by the political climate under the Trump administration.

The federal government has threatened to withhold funding from elite institutions like Yale and Columbia as part of its so-called security reforms.

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While Stanley remains critical of Yale’s handling of his academic freedom, he claims Columbia has gone a step further — capitulating to political pressure from the White House by forcing out faculty, tightening protest rules, increasing campus policing and reorganizing departments such as Middle East studies.

“It has nothing to do with me.” Stanley told MSNBC. “It has everything to do with my children, and my desire to send a warning to Americans.”

Stanley may be uprooting his life with a new job waiting across the border — but for many Americans, the move is far more complicated than booking a one-way ticket.

Moving up north

Back in 2016, when Donald Trump was first elected, countless Americans — celebrities Amy Schumer and Snoop Dogg included — threatened to head north. But few actually did. Despite the shared border, Canadian immigration lawyer Ryan Rosenberg says the move isn’t nearly as simple as it sounds.

“‘What do you mean I can’t move to Canada next week?’” is the reaction clients typically have about Canadian immigration requirements, he told CBC News.

Rosenberg, managing partner at Larlee Rosenberg in Vancouver, launched a cheeky website last year called Trumpugees.ca, with the slogan: "Tired of Trump? Thinking about Canada? We can help."

But according to him, fewer than 5% of inquiries ever turn into a formal application — mostly because one key requirement stops Americans in their tracks: without a job offer, they can’t just pack up and go.

And now, Americans looking to flee a volatile political climate are facing another hurdle: a federal government in Ottawa that’s actively trying to curb immigration. Ottawa-based immigration lawyer Betsy Kane says that unless applicants speak French or have in-demand skills, their options are slim.

“For somebody living in the States who wants to look at opportunities in Canada, it’s pretty difficult right now and you really need to have a job offer in a specific field," Kane told CBC News.

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Friendly neighbors

Even if you manage to cross the border, settling into life in Canada isn’t all smooth sailing — especially when it comes to retirement planning.

According to a BMO survey, Canadians believe they’ll need around $1.7 million to retire comfortably. That figure is similar to American expectations — but the weaker Canadian dollar complicates things.

With the exchange rate sitting at 1.42 CAD to 1 USD at time of writing, saving and spending in Canada could shrink the value of your nest egg over time.

And if you decide to return to the U.S. down the line, your Canadian savings might not go as far as you’d hoped. Currency fluctuations also affect day-to-day spending. From groceries to gas, price tags can feel unexpectedly steep if you’re not accounting for the exchange rate.

Health care is another major consideration. While Canada’s universal system is often praised, newcomers don’t get access right away. Some provinces have a waiting period of up to three months before public coverage kicks in — and during that time, you’ll need private insurance. Even with coverage, services like dental, vision and prescriptions often come with extra out-of-pocket costs.

So, while Canada may seem like a safe haven, the reality is far more complex — and costly — than many Americans expect.

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

In times of hardship, Suze Orman will be the first to tell you that what you don’t do with your money may be even more important than what you do with it.

The best-selling personal finance author and TV personality has seen it all in her decades-long career, and she has plenty of advice to help you get through the choppy economic waters.

Here are five of her most fundamental tips for avoiding investing blunders so you can protect your portfolio and make it grow even during a downturn.

1. Don’t sell stocks when markets are bad

When stocks are hurtling lower, investors tend to drop investments fast. That’s a bad idea, says Orman.

Instead of dumping stock, she advises that you just keep investing the same amount of money each month, regardless of what the market is doing. Using this strategy, a bad month for the market becomes a good month to invest.

"I wish for 2008 again," she told Yahoo Finance, referring to the big market meltdown. "That’s when the fortune was made. That’s when you could buy stocks for pennies on the dollar."

If you train yourself to hold on tight through market dips, you’ll continue to build a solid portfolio with long-term earning potential.

2. Don’t put blind faith in a financial advisor

It’s important to have a financial advisor you can trust.

"Don’t think that they’re always going to have your best interest at heart, because probably they have their own best interest at heart,” Orman says.

When selecting a financial professional, make sure he or she is a "fiduciary," which means your adviser has a legal duty to act in your best interest.

During your vetting process, ask prospective advisors about how they’ll be compensated for working with you, and about other services they can offer. This will give you a good idea of their motivations when they invest your money.

For those looking for an alternative to the traditional advisor, robo-adivsors offer a more democratized approach to investing by using a carefully calibrated algorithm to do the investing for you based on your preferences, risk tolerance, and financial goals. This eliminates the potential biases and alterior motives of a human equivalent, and these robo-advisors also come with a strict fiduciary duty that is regulated by the government. Such examples include:

3. Don’t invest for the wrong reasons

Orman says too many people — especially young people — make investment choices purely because a stock seems cool or trendy.

"They decide, ‘This company is great, I’m going to invest in that,’" she told CNBC in 2018. If that’s your strategy, "maybe you’ll hit it right, maybe you’ll hit it wrong."

It’s less risky to diversify your investing by putting your money into index funds and exchange-traded funds, or ETFs.

4. Don’t be too quick to buy a home

Homeownership is a big part of many people’s dream, but today’s mortgage rates might make some people think twice.

"Sometimes it makes sense to own a home," Orman told CNBC. "And sometimes, depending on where you live, it makes sense to simply rent."

If you’re in an expensive city, Orman says why not invest in the stock market instead of pouring a lot of money into property?

That way, you can grow your savings — maybe into a down payment on the home of your dreams.

5. Just don’t sell stocks — period

Orman speaks from personal experience. In 1997, she invested around $5,000 in Amazon (NASDAQ:AMZN). She sold the stock a few years later and quadrupled her money.

However, the shares would be worth millions today. "It makes me sick to even tabulate it," she told CNBC.

Investing in individual stocks isn’t her favourite game plan, but she says people who play the market should at least do extensive research on the companies they’re interested in. She says Google (NASDAQ: GOOG), Facebook (NASDAQ:META) and others are expected to retain their competitive edge for years to come.

“If you do buy, though, make sure to hold," Orman advises. "You keep a great stock forever."

Sources

1. Yahoo Finance: Suze Orman to average investors: Don’t sell during downturns (October 25, 2018)

1. CNBC: Suze Orman says this is the No. 1 investing mistake young people make (September 27, 2018)

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

Scammers have left many Illinois residents unable to feed their families after stealing Supplemental Nutrition Assistance Program (SNAP) benefits, reports CBS News Chicago. SNAP provides monthly food benefits to low-income households to help fund groceries, but over the past two years, criminals have siphoned off millions.

From October 2022 to December 2024, scammers stole nearly $21 million in SNAP benefits from more than 38,000 households across Illinois through almost 124,000 fraudulent transactions.

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"My family and I can’t buy groceries this month," one victim wrote to CBS News. Another Chicago victim said they checked their balance and found $1,039 was stolen from their EBT card in six separate transactions after someone used their benefits hundreds of miles away at a deli and grocery store in New York.

“I am not the only victim," she wrote. "When the clerk gave me the report to file she said this has been severe since 2022."

But how are thieves getting away with it?

How does the fraud happen?

Much of the fraud stems from skimming, a tactic where scammers use hidden devices to copy EBT card data during a transaction.

“Skimming is a big part of the SNAP EBT fraud,” James Morley of the U.S. Secret Service Chicago Field Office told CBS News. "You could have criminals in another state or another country that are getting that data real-time as it’s being captured."

These skimming devices, often installed on payment terminals at stores, can transmit card data via Bluetooth to criminals in real-time — sometimes in other states or even countries.

The core issue is that most EBT cards still use magnetic stripes, not the chip-enabled security found in modern debit and credit cards. That leaves them vulnerable to data theft with a single swipe.

"What I don’t understand, though, is how in the world when the entire world switched to chip-enabled cards over a decade ago, why the food stamp program didn’t do the same thing," said Haywood Talcove, CEO of Government Business for LexisNexis Risk Solutions.

The fraud isn’t just ongoing — it’s accelerating. In 2024 alone, thieves made off with $12.5 million, accounting for 57% of all fraud losses since Illinois began tracking the problem, reports CBS News. Worse still, stolen benefits are no longer reimbursed. The federal reimbursement program ended in December 2024, leaving victims on their own.

Some states are taking steps to prevent EBT card fraud. California has rolled out chip-enabled EBT cards, and Oklahoma plans to do so soon. Chips use tokenization, which makes it nearly impossible for fraudsters to skim the information.

Illinois is participating in the USDA Mobile Payment Pilot program instead, set to launch later this year. This program allows people to add their EBT card to their mobile wallet and then tap to pay at checkout. While this program may be more secure, it requires users to have a smartphone, which could be a barrier for SNAP recipients who don’t own or regularly use smartphones.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

What can you do to prevent SNAP fraud?

Unfortunately, since federal reimbursements ended in December 2024, there’s no guarantee your stolen funds will be replaced. Some victims, like a Chicago man who lost $698 in under a minute, say they’ve been told to wait until next month’s benefits.

"IDHS isn’t replacing any of the benefits for the month. They are just giving people new cards, telling them to wait until next month’s benefits," he wrote to CBS News.

The best way to prevent SNAP fraud is to be alert and proactive. If your state is offering chipped SNAP cards, request a replacement. Otherwise, you can:

• Block out-of-state transactions
• Turn your card off after making a purchase
• Block internet transactions

If you think your funds have been stolen, take immediate action, and:

• Contact your state’s EBT provider or local health services office right away to report the theft.
• Request a new EBT card as soon as possible.
• Monitor your EBT account regularly for suspicious or unauthorized charges.
• Document everything, including the date and amount of stolen funds, and where the transactions occurred.

U.S. Rep. Jan Schakowsky of Illinois says she’s working to change the lack of reimbursement.

“I have heard from constituents who have had their benefits stolen and have not been reimbursed…I will not back down. I plan to continue to work with my colleagues in the state legislature to ensure all Illinoisans can access their benefits,” she said in a statement.

In the meantime, many Illinois families are left waiting — and wondering how they’ll put food on the table.

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

You want to get to debt-free status as soon as possible, and all that’s standing in your way is a $5,000 loan with a 2.5% interest rate.

Paying it off and freeing up those monthly interest payments for other purposes is naturally appealing.

What should you do?

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While paying off a loan early sounds attractive, there may be some downsides. Understanding your loan terms and potential consequences of an early payoff is key to making the right decision.

When it makes sense to pay loans off early

One of the main reasons borrowers pay off loans early is to save money, particularly on high-interest loans.

You can use the money you save in interest payments to pad your emergency fund, save for a down payment, build a retirement nest egg or even increase your budget for entertainment and hobbies.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Paying off your loan early could boost your creditworthiness. Lenders look at a metric called the debt-to-income (DTI) ratio when assessing your eligibility for a loan.

The DTI is the percentage of your gross income that goes to debt payments. A low DTI suggests you can manage loan payments, meaning lenders will likelier approve you for a mortgage at a competitive rate.

Why you may want to hold off

However, just because you can pay off a loan early doesn’t mean you should. There are other ways you can use your money to improve your financial situation.

One potential issue is that some lenders charge a prepayment penalty when borrowers pay off loans early. Lenders do so to recoup any losses incurred from the interest they could have earned on your loan. That penalty could negate what you save in interest payments.

Ironically, paying off your loan early could negatively impact your credit score.

Yes, it sounds strange, but an early prepayment could affect the length of your credit history, credit utilization and credit mix. All these factors affect your credit score.

You might be better off using your money to build an emergency fund that could help you get by if you’re laid off or pay for an unexpected home repair or medical bill.

In fact, if you find yourself in such a situation without an emergency fund, you might need to take out a loan at a higher rate than 2.5%, meaning even more of your hard-earned money would go towards interest payments.

One of the best options? Investing money to earn you a higher rate of return than the money you save by paying off the loan.

Consider talking to a financial advisor to weigh your options.

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• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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

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.

In 2023, 16,806 Americans aged 60 and older reported falling victim to scams, losing a staggering $1.6 billion. The common thread? Cryptocurrencies. Digital currency scams accounted for over 69,000 complaints and $5.6 billion in losses across all age groups.

Unfortunately, crypto scams are easy to execute due to the complexity of digital currencies and growing interest in new investments. For older adults, losing money to such scams could jeopardize their retirement savings.

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Protecting yourself from common cryptocurrency scams

Crypto scams take many forms, but there are ways you can insulate yourself from the thousands that take place every day.

Financial advisors are trained to recognize legitimate investment opportunities and can help you steer clear of suspicious or overly risky ventures, including those involving digital currencies.

FinancialAdvisor.net is a free matching service that helps you find an advisor who can help you reach your financial goals by matching you with a pre-screened financial advisor from their database of thousands.

All it takes is a few minutes to answer some questions about yourself, and FinancialAdvisor.net will provide you with a personalized match of two to three advisors. From there, you can book a free, no-obligation consultation to confirm if your match is right for you.

Outside of professional help, another great defense against scammers is education. An FBI report showed that fraudulent investments (which caused over $3.96 billion in losses among all victims) and phishing or spoofing scams (an estimated $9.6 million in financial loss) were most likely to fool victims in the 60+ age group. Phishing and spoofing schemes trick individuals into sharing personal or financial information, believing they are interacting with legitimate companies. Learning how to spot these scams is critical to protecting your wealth.

Common scams include fake initial coin offerings (ICOs), which entice victims to purchase worthless currencies, and fake digital wallets, where victims unknowingly provide private keys to criminals.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Solid investments that allow you to avoid crypto entirely

You can avoid cryptocurrency scams entirely by steering clear of this market.

Most older adults and pre-retirees should exercise caution in their investments due to their shorter timelines. Putting money you may need to use soon into such a volatile asset is risky, even if the coin is legitimate.

Instead of risking your investment, consider tried-and-true options like precious metals, real estate, or the stock market, all of which are more accessible than ever and allow for the potential for steady growth over time.

Hold gold to save for retirement

Many investors prize gold as a potential hedge against inflation and a solid store of wealth.

Opting for a gold IRA gives you the opportunity to hedge against market volatility by allowing you to invest directly in physical precious metals rather than stocks and bonds.

If you’d like to convert an existing IRA into a gold IRA, companies typically offer 100% free rollover. Others might offer free gold, silver or other metals up to a certain amount when you make a qualifying purchase.

You can check out our top picks for industry-leading companies offering gold IRAs.

Compare offers instantly and request a free information guide to help you understand how to diversify your portfolio and secure your retirement fund.

Park money in real estate to potentially gain regular income

Another option for investors looking for an alternative to crypto’s volatility and scam potential is real estate. This tangible, stable asset class has a proven track record of long-term growth.

You can tap into this market by investing in shares of vacation homes or rental properties through Arrived.

Backed by world-class investors including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100, potentially earning quarterly dividends.

Accredited investors with $50,000 at their disposal can put their capital into larger-scale, necessity-based commercial real estate through First National Realty Partners (FNRP).

FNRP is a private equity real estate investment firm that specializes in acquiring and managing grocery-anchored commercial properties across the U.S. These properties often feature large, well-known retailers like Kroger, Walmart, and Whole Foods, which have the potential to provide steady, reliable income streams.

Investors can research FNRP’s offerings at their convenience, request and execute investment documents and then track and manage the progress of their investments through their personalized investor portal account.

Make smarter moves on the stock market

Companies offering in-depth market research or reliable trading platforms will probably go a little further in helping you prioritize stability and informed decision-making over crypto investments.

Moby, founded by former hedge fund analysts, offers an investment research platform that provides expert stock picks, presenting a safer alternative to the unpredictability of cryptocurrency. Their analysts dedicate hours each week to analyzing financial data and trends to deliver top-tier stock reports.

Over four years, Moby’s nearly 400 stock recommendations have outperformed the S&P 500 by an impressive 12% on average. With user-friendly formats and a 30-day money-back guarantee, Moby gives you the opportunity to become a wiser investor in just five minutes.

What to read next

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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

Trump’s tariff trade wars are all over the news, and you’re determined to shop Canadian. Well, you’ll be happy to hear that your furry family members can do their part. We’ve put together a comprehensive list of Canadian pet food brands that make it easier to make the switch.

To be considered for this list, pet foods must not only be made in Canada, but also be Canadian owned. That means brands such as Acana and Royal Canin didn’t make our list — that’s because even though this food is made in Canada, the brands are owned by a US parent company (in this case, Mars).

You can buy any of these pet foods directly from the manufacturers’ websites, but if you prefer brick and mortar stores, you can try shopping at Pet Valu. This pet store giant is Canadian-owned and operated. As well, most of the local boutique pet stores in your neighbourhood are also Canadian-owned and operated.

Canadian dry pet food (alphabetical)

• 1st Choice Nutrition
• Canadian Naturals
• Carna4
• FirstMate
• Harlow Blend
• Horizon Pet Nutrition
• Lily & Jax
• Nutrience
• Nutram
• Oven-Baked Tradition
• Petcurean Gather, Go! Solutions and Now Fresh
• Pronature
• Vetdiet
• Zoe

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

Canadian wet pet food (alphabetical)

• Canada Fresh
• FirstMate
• Harlow Blend
• Kasiks
• Nutram
• Nutrience
• Oven-Baked Tradition
• Petcurean
• PetKind
• Vetdiet
• Zoe

Canadian dehydrated or freeze-dried pet food (alphabetical)

• Hurraw
• Grand Cru
• Puppy Love
• Smack
• Zeal Canada

Canadian frozen raw pet food (alphabetical)

• Big Country Raw
• Bold by Nature
• CarivoraBack2Raw
• Healthy Paws
• Iron Will Raw
• K9 Choice Foods
• Legacy Pet Foods
• Pets Go Raw

Did I miss any? If you’ve got one that I’ve missed, please let me know by dropping a comment down below, and I’ll add it to the list.

This article Our comprehensive guide to Canadian-owned and -made pet foods 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.

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.

President Donald Trump has set a bold plan in motion for America’s financial future — one that mirrors the strategies of oil-rich nations and resource-heavy economies: a sovereign wealth fund.

On February 3, 2025, Trump signed an executive order directing the creation of a U.S. sovereign wealth fund. The order mandates that the Secretary of the Treasury and the Secretary of Commerce develop a plan within 90 days, detailing funding mechanisms, investment strategies, fund structure, and governance models.

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While the initiative is still in its early stages and specific details remain scarce, Trump is highly optimistic.

“We’re going to create a lot of wealth for the fund, and I think it’s about time this country had a sovereign wealth fund,” he told reporters.

It’s unclear how the fund would be financed, but Trump has previously suggested it could come from “tariffs and other intelligent things.”

Despite Trump’s confidence, the proposal has drawn skepticism.

Economist Peter Schiff, a vocal supporter of Trump during the election season, didn’t hold back in his criticism.

“Even if the U.S. government didn’t have a massive $36.5 trillion national debt, the idea of a U.S. sovereign wealth fund is not only preposterous, it’s also unconstitutional,” he wrote in a post on X. “Plus, the last thing we need is more socialism or for the U.S. government to pick winners and losers.”

Others have also raised concerns about the economic feasibility of such a fund.

“The economic rules of thumb don’t add up,” said Colin Graham, head of multiasset strategies at Robeco in London. “Creating a sovereign wealth fund suggests that a country has savings that will go up and can be allocated to this.”

The U.S. government doesn’t have much in the way of savings — it has debt. As of this writing, the U.S. national debt stands at $36.22 trillion, raising concerns about whether a sovereign wealth fund is financially viable.

Whether Trump’s sovereign wealth fund becomes a game-changing wealth-generating force or faces insurmountable challenges, the responsibility falls to all Americans to take control of their own financial future. While governments debate policy, savvy investors have always prioritized building and protecting wealth — regardless of political shifts or who occupies the White House. Here’s a look at three easy ways to get started.

Warren Buffett’s No. 1 strategy for everyday investors

When it comes to building wealth, few investors have a track record as impressive as Warren Buffett. From 1964 to 2023, his company, Berkshire Hathaway, delivered a staggering total gain of 4,384,748%.

Yet, despite his legendary success in picking winning companies, Buffett doesn’t believe that’s the right approach for most investors. Instead, he champions a much simpler strategy:

“In my view, for most people, the best thing to do is own the S&P 500 index fund,” he famously stated.

This approach gives investors exposure to 500 of America’s largest companies across various industries, providing diversified exposure without the need for constant monitoring or active trading.

Buffett believes so strongly in this strategy that he has instructed 90% of his wife’s inheritance to be invested in “a very low-cost S&P 500 index fund” after he dies.

The beauty of this approach is its accessibility — anyone, regardless of wealth, can take advantage of it. Even small amounts can grow over time with tools like Acorns, a popular app that automatically invests your spare change.

Signing up for Acorns takes just minutes: link your cards, and Acorns will round up each purchase to the nearest dollar, investing the difference — your spare change — into a diversified portfolio. With Acorns, you can invest in an S&P 500 ETF with as little as $5 — and, if you sign up today, Acorns will add a $20 bonus to help you begin your investment journey.

Read more: Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan ‘works every single time’ to kill debt, get rich in America — and that ‘anyone’ can do it

Real estate: the industry that built Trump’s fortune

Real estate has been another powerful vehicle for long-term financial growth, and it’s a strategy that Trump himself knows well. Long before he entered politics, Trump built his fortune through high-profile real estate ventures, from luxury developments to commercial properties.

Investors gravitate toward real estate for good reason — well-chosen properties can generate passive income through rent while also having the potential to appreciate in value over time.

Additionally, real estate serves as a proven hedge against inflation. As the cost of materials, labor, and land rises, property values often follow suit. Rental income also tends to increase, allowing landlords to offset the impact of inflation and preserve their purchasing power.

The best part? These days, you don’t need to be a real estate mogul like Trump to take advantage of this strategy. Platforms like First National Realty Partners (FNRP) allow accredited investors to own part of institutional-quality, grocery-anchored properties without the hassle of finding and managing deals themselves.

FNRP properties are leased to national brands like Whole Foods, CVS, Kroger, and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, investors can enjoy the potential to collect stable, grocery store-anchored income every quarter, without worrying about tenant costs cutting into the bottom line.

Schiff’s safe haven: why gold still shines

For investors looking to add defense and stability to their portfolios, gold remains a time-tested option.

During periods of uncertainty — whether geopolitical, financial, or policy-driven — investors often turn to gold. The precious metal is seen as a store of value, offering protection against inflation, economic downturns and stock market volatility.

Even though markets aren’t in crisis mode, gold has been on a remarkable run. Over the past year, it has surged around 40%, recently surpassing $2,800 per ounce.

Schiff, a long-time advocate for the yellow metal, believes this is just the beginning. “If gold can go from $20 an ounce to $2,600 an ounce, it can go from $2,600 to $26,000, or even to $100,000. There’s no limit because, again, gold isn’t changing — it’s the value of the dollar that’s decreasing,” he predicted.

At today’s prices, a move to $100,000 per ounce would represent an astounding upside of over 3,300%.

Opting for a gold IRA gives you the opportunity to hedge against market volatility by allowing you to invest directly in physical precious metals rather than stocks and bonds.

Priority Gold is an industry leader in precious metals, offering physical delivery of gold and silver. Plus, they have an A+ rating from the Better Business Bureau and a 5-star rating from Trust Link.

If you’d like to convert an existing IRA into a gold IRA, Priority Gold offers 100% free rollover, as well as free shipping, and free storage for up to five years. Qualifying purchases will also receive up to $10,000 in free silver.

To learn more about how Priority Gold can help you reduce inflation’s impact on your nest egg, download their free 2025 gold investor bundle.

What to read next

• Accredited investors can now buy into this $22 trillion asset class once reserved for elites – and become the landlord of Walmart, Whole Foods or Kroger without lifting a finger. Here’s how
• Here are 3 ‘must have’ items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you?
• Nearly 1 million Americans have a net worth of at least $10,000,000 — here are 3 ‘quiet’ ways the ultra-wealthy grow their riches (and how you can join the club ASAP)

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

You’ve reached retirement age and have a decent nest egg to fund your golden years. But you’re also wondering whether you should work just one more year to boost your savings even further. Then again, will one more year of work really matter in the grand scheme of things? Well, it does. But it’s not the only consideration.

Say you’re 65 years old, with $1.5 million in retirement savings, TFSA, RRSP and other accounts in your investment portfolio and you’ve also recently paid off your mortgage. Should you bother working one more year? Here’s how to figure out what’s right for you.

Should I work one more year?

According to the Government of Canada, most Canadians spend 35% to 50% of their income on housing and utilities. However, if you’ve already paid off your mortgage, your expenses may be significantly less than the national average.

Let’s say, for example, you expect to live off $4,000 a month in retirement. On top of your living expenses, you want to account for things such as travel, hobbies and entertainment — let’s allot $500 a month — and, of course, a cushion in your retirement budget for out-of-pocket medical expenses — let’s suppose $500 a month.

That means you’ll need an annual retirement income of $60,000 a year (or $5,000 a month). However, you’ll also need to account for inflation throughout retirement — you can expect your living expenses and medical costs to go up over time.

If you work one extra year, you’ll be able to put more money into savings. That means a larger nest egg — and more money working for you to earn an income you can live off of during your retirement years.

Plus, there may be other benefits. For instance, if your employer matches registered retirement savings plan (RRSP) contributions, you can further boost these tax-efficient savings by working one more year. Plus, by working another year your retirement savings stay invested longer — another strong hedge against inflation and protecting your retirement nest egg.

Plus, if you keep working and delay your Canada Pension Plan (CPP) benefit by a year, you’ll receive delayed retirement credits. This means an 8.4% increase in yearly benefits for each year you delay between age 65 to 70.

From a practical point of view that means if your benefit is $899.67 — the average monthly amount of CPP paid out at age 65 — but end up delaying those CPP payments until age 66, you’ll end up with a monthly cheque of $975.07. If you delay CPP payments until 70, that monthly cheque jumps to $1,277.53. Keep in mind, these figures are the average CPP payout at 65. If you were eligible for the maximum CPP payment, you could boost your payment from $1,433, at age 65, to $1937.33, by age 70.

What else should I consider?

You can estimate how much you’d be able to withdraw each month in retirement by working with a financial advisor or using retirement planning tools, like our retirement calculator.

While it may make financial sense to wait another year before retiring, it’s not the only consideration.

If you’re not in the best of health, for example, you may want to start enjoying your golden years now rather than keep working — especially if work is a huge source of stress that exacerbates said issues.

After all, no one is guaranteed to live another 20 or 30 years after retirement. It’s also easy to fall victim to the ‘just one more year’ syndrome.

If you’re thinking about retiring early, you may want to crunch the numbers first — since working another year (or three) may provide much more financial security in your golden years.

If, however, you’ve already reached your retirement goals, then it may not make sense to wait another year.

For example, based on the income requirements of $6,500 per month in retirement and a $1.5 million portfolio, then retiring at 65 would mean CPP income of $1,277.53 per month (assuming the average CPP payment), along with $5,000 from your retirement savings, for a total of $6,277.53 per month (before tax). That’s plenty for a comfortable retirement.

As with most financial questions, the real answer depends on your personal circumstances. For more precise answers, it may be a good idea to consult a financial advisor to crunch the numbers and discuss your options.

Sources

1. Government of Canada: Prepare financially: Estimate how much it’ll cost you to live in Canada

This article Does ‘one more year’ of work really matter when it comes to retirement safety in Canada? Yes — and it could be the biggest retirement decision you make. Here’s whyoriginally appeared on Money.ca

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