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Should you use a HELOC to buy a home?

A 2024 AARP report found that 75% of Americans ages 50 and over want to age in place — meaning they’d prefer to stay in their current homes rather than relocate or downsize. However, if you’re, say, a 57-year-old widow, you may not need the extra space that a detached home offers. You might also be tired of handling the upkeep on your own. One option is to downsize and move into a condo, which could reduce your workload and lower your expenses. To do this, you could sell your home and use the proceeds to purchase a condo. But with limited real estate inventory nationwide, you may be hesitant to sell your home before finding a new place to live. An alternative — if you have sufficient home equity — is to take out a home equity line of credit (HELOC) on your current home and use that credit to purchase the condo. This way, you don’t have to sell your house before buying a new one. But is that too risky a move? Let’s dig in.

By Maurie Backman | 04.27.25

A 2024 AARP report found that 75% of Americans ages 50 and over want to age in place — meaning they’d prefer to stay in their current homes rather than relocate or downsize. However, if you’re, say, a 57-year-old widow, you may not need the extra space that a detached home offers. You might also be tired of handling the upkeep on your own. One option is to downsize and move into a condo, which could reduce your workload and lower your expenses. To do this, you could sell your home and use the proceeds to purchase a condo. But with limited real estate inventory nationwide, you may be hesitant to sell your home before finding a new place to live. An alternative — if you have sufficient home equity — is to take out a home equity line of credit (HELOC) on your current home and use that credit to purchase the condo. This way, you don’t have to sell your house before buying a new one. But is that too risky a move? Let’s dig in.

By Maurie Backman | 04.27.25

How one market lets consumers slash food costs

If you're having a difficult time affording your groceries lately, you're not alone. In March, food at home prices were up 2.4% on an annual basis, according to the Consumer Price Index — but that’s only half of the story. Between 2020 and 2024, U.S. food prices rose a whopping 23.6%, according to the USDA. It's not surprising, then, to learn that 70% of consumers were struggling to afford their groceries at the end of 2024, according to data from Swiftly. In addition to that, last year, 62% of consumers reported they were no longer purchasing snack products due to increasing costs. But one “secret” spot in Dallas is helping local residents eat well without breaking the bank. "It's economical, it's great quality," co-owner Arnie Perez told CBS Texas. "Let's bring big products, you know, beautiful produce, at a great price. It has to work."

By Maurie Backman | 04.27.25

If you're having a difficult time affording your groceries lately, you're not alone. In March, food at home prices were up 2.4% on an annual basis, according to the Consumer Price Index — but that’s only half of the story. Between 2020 and 2024, U.S. food prices rose a whopping 23.6%, according to the USDA. It's not surprising, then, to learn that 70% of consumers were struggling to afford their groceries at the end of 2024, according to data from Swiftly. In addition to that, last year, 62% of consumers reported they were no longer purchasing snack products due to increasing costs. But one “secret” spot in Dallas is helping local residents eat well without breaking the bank. "It's economical, it's great quality," co-owner Arnie Perez told CBS Texas. "Let's bring big products, you know, beautiful produce, at a great price. It has to work."

By Maurie Backman | 04.27.25

Top 5 states most affected by SSA payment changes

As the changes to Social Security continue, some older Americans may find themselves having to play catch-up. In March, President Donald Trump signed an executive order to stop issuing paper checks by September 30 and instead use direct deposit, prepaid cards or other digital payment options. This move might seem inconsequential, but it impacts nearly half a million seniors nationwide. While the White House is determined to modernize the system, many retirees have yet to fully adopt new technologies, putting them at risk of missing essential benefits. According to the Social Security Administration (SSA), 485,766 beneficiaries received their monthly Social Security payments via physical check in April. With that in mind, here are the top five states where seniors are most exposed to this sudden change.

By Vishesh Raisinghani | 04.27.25

As the changes to Social Security continue, some older Americans may find themselves having to play catch-up. In March, President Donald Trump signed an executive order to stop issuing paper checks by September 30 and instead use direct deposit, prepaid cards or other digital payment options. This move might seem inconsequential, but it impacts nearly half a million seniors nationwide. While the White House is determined to modernize the system, many retirees have yet to fully adopt new technologies, putting them at risk of missing essential benefits. According to the Social Security Administration (SSA), 485,766 beneficiaries received their monthly Social Security payments via physical check in April. With that in mind, here are the top five states where seniors are most exposed to this sudden change.

By Vishesh Raisinghani | 04.27.25

Orman says retirees underestimate 1 critical cost

For many retirees, budgeting becomes an art of precision — cutting travel, downsizing homes and seeking out seniors' discounts. But there’s one expense that still manages to take a surprising toll, even for those who think they’ve planned their golden years well. Financial expert Suze Orman has warned that many Americans underestimate a critical cost in retirement, with one particular health-related expense she says is often overlooked. Enjoying retirement stress-free may be a matter of understanding and mitigating this critical expense as soon as possible.

By Emma Caplan-Fisher | 04.27.25

For many retirees, budgeting becomes an art of precision — cutting travel, downsizing homes and seeking out seniors' discounts. But there’s one expense that still manages to take a surprising toll, even for those who think they’ve planned their golden years well. Financial expert Suze Orman has warned that many Americans underestimate a critical cost in retirement, with one particular health-related expense she says is often overlooked. Enjoying retirement stress-free may be a matter of understanding and mitigating this critical expense as soon as possible.

By Emma Caplan-Fisher | 04.27.25

Odell Beckham Jr. gloats as bitcoin soars

NFL star Odell Beckham Jr. is taking a victory lap, but not on the field. The Miami Dolphins player took to X, formerly Twitter, to celebrate bitcoin's price topping $100,000 in early-December. Back in 2021 when he signed with the Los Angeles Rams, Beckham struck a deal with Block Inc.’s Cash App to receive his $750,000 salary in bitcoin. The price was $64,158 on the day he converted it, according to The Action Network data cited by Morningstar. The website says if he moved the $750,000 sum all at once into bitcoin, it would be worth about $1,168,900 at bitcoin's current roughly $100,000 value, At the time, it was noted how this may have not been a wise financial decision because of the virtual currency's volatility. MarketWatch asked, “how much did it end up costing him?” Indeed, the world’s most popular cryptocurrency lost 74% of its value from November 2021 to November 2022, justifying some of the critics’ concerns. However, the recent rebound has pushed the pendulum the other way. “Soooo who said taking my Rams salary in bitcoin was dumb again?” Beckham posted on X in November. While it is unclear whether the athlete held onto his bitcoin throughout the three-year period, it seems fair to assume his gamble paid off. He also appears to have an endorsement deal with Cash App and last month tweeted, "I’m still partnering with @CashApp to take my salary in bitcoin." The story is reminiscent of graffiti artist David Choe’s decision to take his $60,000 payment for painting Facebook’s office in the tech giant’s stock. That was back in 2005. In 2012, Facebook went public and Choe’s stock options were worth over $200 million, according to CNBC. Sometimes making long-term bets on assets viewed as risky can lead to enormous wealth creation. It can also turn out terribly and be extremely costly, so always take time to determine your own risk tolerance level and maintain a diversified portfolio. If you have as much faith in Bitcoin as Beckham, here’s how you can invest.

By Moneywise | 04.26.25

NFL star Odell Beckham Jr. is taking a victory lap, but not on the field. The Miami Dolphins player took to X, formerly Twitter, to celebrate bitcoin's price topping $100,000 in early-December. Back in 2021 when he signed with the Los Angeles Rams, Beckham struck a deal with Block Inc.’s Cash App to receive his $750,000 salary in bitcoin. The price was $64,158 on the day he converted it, according to The Action Network data cited by Morningstar. The website says if he moved the $750,000 sum all at once into bitcoin, it would be worth about $1,168,900 at bitcoin's current roughly $100,000 value, At the time, it was noted how this may have not been a wise financial decision because of the virtual currency's volatility. MarketWatch asked, “how much did it end up costing him?” Indeed, the world’s most popular cryptocurrency lost 74% of its value from November 2021 to November 2022, justifying some of the critics’ concerns. However, the recent rebound has pushed the pendulum the other way. “Soooo who said taking my Rams salary in bitcoin was dumb again?” Beckham posted on X in November. While it is unclear whether the athlete held onto his bitcoin throughout the three-year period, it seems fair to assume his gamble paid off. He also appears to have an endorsement deal with Cash App and last month tweeted, "I’m still partnering with @CashApp to take my salary in bitcoin." The story is reminiscent of graffiti artist David Choe’s decision to take his $60,000 payment for painting Facebook’s office in the tech giant’s stock. That was back in 2005. In 2012, Facebook went public and Choe’s stock options were worth over $200 million, according to CNBC. Sometimes making long-term bets on assets viewed as risky can lead to enormous wealth creation. It can also turn out terribly and be extremely costly, so always take time to determine your own risk tolerance level and maintain a diversified portfolio. If you have as much faith in Bitcoin as Beckham, here’s how you can invest.

By Moneywise | 04.26.25

Florida dealer arrested in luxury car scam

Vitalii Stefurac, a South Florida man, is accused of defrauding Alan Sue of nearly $300,000 in a wire fraud crime. Stefurac, who also went by the alias Viktor, was the owner of Dream Auto Collection, a luxury car dealership in Hollywood, Florida, specializing in imported vehicles. In 2023, Sue, 78, ordered a Mercedes-Benz G63 with a rare BRABUS package for $275,000. He wired the money in two installments but never received the luxury vehicle. Records show that the car in question was sold to another buyer. After months of investigation, federal agents arrested Stefurac just before he boarded a flight from Miami to Cuba. His final destination was reportedly Russia, a country he is known to have visited several times.

By Rebecca Holland | 04.26.25

Vitalii Stefurac, a South Florida man, is accused of defrauding Alan Sue of nearly $300,000 in a wire fraud crime. Stefurac, who also went by the alias Viktor, was the owner of Dream Auto Collection, a luxury car dealership in Hollywood, Florida, specializing in imported vehicles. In 2023, Sue, 78, ordered a Mercedes-Benz G63 with a rare BRABUS package for $275,000. He wired the money in two installments but never received the luxury vehicle. Records show that the car in question was sold to another buyer. After months of investigation, federal agents arrested Stefurac just before he boarded a flight from Miami to Cuba. His final destination was reportedly Russia, a country he is known to have visited several times.

By Rebecca Holland | 04.26.25

How a lack of emergency savings hurts retirees

Many Americans assume that, once they retire, their spending will naturally decline — but that’s not necessarily a given. In fact, a recent report by J.P. Morgan Asset Management found that Americans’ monthly spending increased 25% in the past year — impacting their ‘retirement readiness.’ Those who have retired are seeing huge fluctuations in their annual spending — and it’s upending a lot of people’s budgets. Whether you’ve got a sizable nest egg or not, it’s important to prepare for that possibility so you don’t end up scrambling.

By Maurie Backman | 04.26.25

Many Americans assume that, once they retire, their spending will naturally decline — but that’s not necessarily a given. In fact, a recent report by J.P. Morgan Asset Management found that Americans’ monthly spending increased 25% in the past year — impacting their ‘retirement readiness.’ Those who have retired are seeing huge fluctuations in their annual spending — and it’s upending a lot of people’s budgets. Whether you’ve got a sizable nest egg or not, it’s important to prepare for that possibility so you don’t end up scrambling.

By Maurie Backman | 04.26.25

Should I convert my $400K IRA to a Roth at 65?

Picture this: you’re 65 years old, still working and have around $400,000 saved in a traditional IRA. You’re healthy, active and don’t see yourself retiring anytime soon — maybe not until you've reached your 70s. But at 65, you’re inching closer to the required minimum distributions (RMDs) that are enforced with your traditional IRA, which start at age 73. RMDs are mandatory annual withdrawals from retirement accounts that are enforced by the IRS, which means you must withdraw a certain amount from your traditional IRA every year once you turn 73. On top of that, withdrawals from traditional IRAs are taxed, which means the IRS will begin to take its cut of your retirement savings once you start making withdrawals. With this in mind, you can’t help but wonder — does it make sense to convert to a Roth IRA now and take the tax hit while you’re still earning an income? Here's what that might look like.

By Monique Danao | 04.26.25

Picture this: you’re 65 years old, still working and have around $400,000 saved in a traditional IRA. You’re healthy, active and don’t see yourself retiring anytime soon — maybe not until you've reached your 70s. But at 65, you’re inching closer to the required minimum distributions (RMDs) that are enforced with your traditional IRA, which start at age 73. RMDs are mandatory annual withdrawals from retirement accounts that are enforced by the IRS, which means you must withdraw a certain amount from your traditional IRA every year once you turn 73. On top of that, withdrawals from traditional IRAs are taxed, which means the IRS will begin to take its cut of your retirement savings once you start making withdrawals. With this in mind, you can’t help but wonder — does it make sense to convert to a Roth IRA now and take the tax hit while you’re still earning an income? Here's what that might look like.

By Monique Danao | 04.26.25

Janet Yellen: US trade war 'self-inflicted wound'

As a former Federal Reserve Chair and U.S. Treasury secretary, Janet Yellen isn’t new to economic management. So when she tells CNN that the current administration’s approach is a prime example of economic mismanagement, it carries some weight. Yellen specifically singled out President Donald Trump’s trade war and tariff policy as financially destructive. “This is the worst self-inflicted wound that I have ever seen an administration impose on a well-functioning economy,” the economist said in a recent interview, warning that other policies that are currently being concerned by the administration could potentially deepen these wounds further. Here’s why Yellen is so alarmed by the ongoing trade conflict and why she believes her successor, Scott Bessent, holds the key to salvaging the global economy.

By Vishesh Raisinghani | 04.26.25

As a former Federal Reserve Chair and U.S. Treasury secretary, Janet Yellen isn’t new to economic management. So when she tells CNN that the current administration’s approach is a prime example of economic mismanagement, it carries some weight. Yellen specifically singled out President Donald Trump’s trade war and tariff policy as financially destructive. “This is the worst self-inflicted wound that I have ever seen an administration impose on a well-functioning economy,” the economist said in a recent interview, warning that other policies that are currently being concerned by the administration could potentially deepen these wounds further. Here’s why Yellen is so alarmed by the ongoing trade conflict and why she believes her successor, Scott Bessent, holds the key to salvaging the global economy.

By Vishesh Raisinghani | 04.26.25

Billions meant for LA homeless goes 'missing'

While homelessness in Los Angeles County declined 5% last year, it remains a huge problem affecting roughly 73,500 people. The good news: Billions of dollars have been allocated to address the issue. The bad news: A large chunk of that money can't be accounted for. Now, Bill Essayli — President Donald Trump's newly appointed U.S. attorney for L.A. — has announced plans to investigate possible fraud and corruption. "Taxpayers deserve answers for where and how their hard-earned money has been spent. If state and local officials cannot provide proper oversight and accountability, we will do it for them," Essayli said in a recent statement.

By Maurie Backman | 04.25.25

While homelessness in Los Angeles County declined 5% last year, it remains a huge problem affecting roughly 73,500 people. The good news: Billions of dollars have been allocated to address the issue. The bad news: A large chunk of that money can't be accounted for. Now, Bill Essayli — President Donald Trump's newly appointed U.S. attorney for L.A. — has announced plans to investigate possible fraud and corruption. "Taxpayers deserve answers for where and how their hard-earned money has been spent. If state and local officials cannot provide proper oversight and accountability, we will do it for them," Essayli said in a recent statement.

By Maurie Backman | 04.25.25

Report reveals Californians are forced into FAIR

A recent investigation by CBS News found that since many private insurance companies have stopped issuing new policies, homeowners are being forced into the state’s insurance plan, the FAIR plan, despite living in low fire risk areas. The only other option they have is purchasing a policy from unregulated out-of-state insurers. While it doesn’t sound that bad on the surface — homeowners can still purchase policies — it appears as though having more homeowners on the FAIR plan can cause far more issues.

By Sarah Li-Cain, AFC | 04.25.25

A recent investigation by CBS News found that since many private insurance companies have stopped issuing new policies, homeowners are being forced into the state’s insurance plan, the FAIR plan, despite living in low fire risk areas. The only other option they have is purchasing a policy from unregulated out-of-state insurers. While it doesn’t sound that bad on the surface — homeowners can still purchase policies — it appears as though having more homeowners on the FAIR plan can cause far more issues.

By Sarah Li-Cain, AFC | 04.25.25

Wisconsin woman scammed out of $80K in crypto

It was supposed to be the ultimate wedding anniversary surprise, a secret investment that would unlock wealth the couple never knew. Instead, a Wisconsin woman ended up more than $80,000 in the hole — the victim of a cruel crypto scam that lured her in with promises of sky-high returns and faked investment dashboards. "She had a big smile on her face saying, ‘Look what I did,’" Scott Johansson told Fox 6 News Milwaukee about the moment his wife presented the gift, which turned out to be a bigger surprise than either of them wanted. “All I thought was, 'This is not real.’” Unfortunately, he was right. Police doubt the money will ever come back, making the couple among a growing list of crypto victims in the U.S.

By Christy Bieber | 04.25.25

It was supposed to be the ultimate wedding anniversary surprise, a secret investment that would unlock wealth the couple never knew. Instead, a Wisconsin woman ended up more than $80,000 in the hole — the victim of a cruel crypto scam that lured her in with promises of sky-high returns and faked investment dashboards. "She had a big smile on her face saying, ‘Look what I did,’" Scott Johansson told Fox 6 News Milwaukee about the moment his wife presented the gift, which turned out to be a bigger surprise than either of them wanted. “All I thought was, 'This is not real.’” Unfortunately, he was right. Police doubt the money will ever come back, making the couple among a growing list of crypto victims in the U.S.

By Christy Bieber | 04.25.25

Robert Kiyosaki warns of a 'Greater Depression'

In light of President Donald Trump’s sweeping tariffs and the uncertainty surrounding them, many experts are warning that America may be headed for a recession. But according to Rich Dad Poor Dad author Robert Kiyosaki, something far worse is looming. “In 2025 credit card debt is at all time highs. U.S. debt is at all time highs. Unemployment is rising. 401(k)’s are losing,” he wrote in an X post on April 18. “U.S.A. may be heading for a GREATER DEPRESSION.” According to the Federal Reserve Bank of New York, Americans now owe a record $1.21 trillion on their credit cards. The U.S. National debt has climbed to $36.22 trillion. Meanwhile, the unemployment rate ticked up to 4.2% in March, and retirees are watching their 401(k)s shrink amid ongoing market volatility. The Great Depression of the 1930s was the worst economic crisis in modern history — marked by mass unemployment, widespread poverty and a collapse in consumer and business confidence. But by calling the next downturn a “Greater Depression,” Kiyosaki suggests it could be even more devastating. As he put it, “This coming Great Depression will cause millions to be poor … and a few who take action, may enjoy great wealth and freedom.” So, what kind of action is he recommending? “For those who take action today, when the crash crashes, those who invest in just one Bitcoin, or some gold, or silver … You may come through this crisis a very rich person,” Kiyosaki wrote. That advice should come as no surprise — Kiyosaki has long been a vocal proponent of these alternative assets, which he backed by making a bold prediction. “I strongly believe, by 2035, that one Bitcoin will be over $1 million. Gold will be $30K and silver $3,000 a coin,” he wrote. Let’s take a closer look at the assets he’s championing.

By Jing Pan | 04.25.25

In light of President Donald Trump’s sweeping tariffs and the uncertainty surrounding them, many experts are warning that America may be headed for a recession. But according to Rich Dad Poor Dad author Robert Kiyosaki, something far worse is looming. “In 2025 credit card debt is at all time highs. U.S. debt is at all time highs. Unemployment is rising. 401(k)’s are losing,” he wrote in an X post on April 18. “U.S.A. may be heading for a GREATER DEPRESSION.” According to the Federal Reserve Bank of New York, Americans now owe a record $1.21 trillion on their credit cards. The U.S. National debt has climbed to $36.22 trillion. Meanwhile, the unemployment rate ticked up to 4.2% in March, and retirees are watching their 401(k)s shrink amid ongoing market volatility. The Great Depression of the 1930s was the worst economic crisis in modern history — marked by mass unemployment, widespread poverty and a collapse in consumer and business confidence. But by calling the next downturn a “Greater Depression,” Kiyosaki suggests it could be even more devastating. As he put it, “This coming Great Depression will cause millions to be poor … and a few who take action, may enjoy great wealth and freedom.” So, what kind of action is he recommending? “For those who take action today, when the crash crashes, those who invest in just one Bitcoin, or some gold, or silver … You may come through this crisis a very rich person,” Kiyosaki wrote. That advice should come as no surprise — Kiyosaki has long been a vocal proponent of these alternative assets, which he backed by making a bold prediction. “I strongly believe, by 2035, that one Bitcoin will be over $1 million. Gold will be $30K and silver $3,000 a coin,” he wrote. Let’s take a closer look at the assets he’s championing.

By Jing Pan | 04.25.25

Stop overpaying for these 5 things ASAP

The price of almost everything – from a carton of eggs to a pound of steak – remains stubbornly high. According to a report by Edelman Financial Engines, 58% of Americans say they need a minimum salary of $100,000 to avoid worrying about everyday expenses. While you may not have much control over the price of most necessities, here are five things in your monthly budget you may be overpaying for – and how you can cut back.

By Marie Alcober | 04.25.25

The price of almost everything – from a carton of eggs to a pound of steak – remains stubbornly high. According to a report by Edelman Financial Engines, 58% of Americans say they need a minimum salary of $100,000 to avoid worrying about everyday expenses. While you may not have much control over the price of most necessities, here are five things in your monthly budget you may be overpaying for – and how you can cut back.

By Marie Alcober | 04.25.25

What's the best way to grow money for my kid?

Many kids struggle to get started financially when they become legal adults, so if you're a parent putting away money to give to your child when they turn 18, you're already setting them up for success. However, it's also smart to look into ways to grow this money so you can give your kids the best possible financial head-start. If you've invested in certificates of deposit (CDs), you've already taken a smart step by looking beyond just a savings account. CDs typically, although not always, provide higher yields than even high-yield savings accounts. While the interest rate is locked in for the duration of the CD term, and you can't withdraw the funds during the term without a penalty, you have several years before you need to give the money to your son. However, while CDs are a solid choice in the right circumstances, other investments offer more growth potential if you have a long time horizon. Here are a few things to consider to maximize the funds you can give your child once they reach adulthood.

By Christy Bieber | 04.25.25

Many kids struggle to get started financially when they become legal adults, so if you're a parent putting away money to give to your child when they turn 18, you're already setting them up for success. However, it's also smart to look into ways to grow this money so you can give your kids the best possible financial head-start. If you've invested in certificates of deposit (CDs), you've already taken a smart step by looking beyond just a savings account. CDs typically, although not always, provide higher yields than even high-yield savings accounts. While the interest rate is locked in for the duration of the CD term, and you can't withdraw the funds during the term without a penalty, you have several years before you need to give the money to your son. However, while CDs are a solid choice in the right circumstances, other investments offer more growth potential if you have a long time horizon. Here are a few things to consider to maximize the funds you can give your child once they reach adulthood.

By Christy Bieber | 04.25.25

Chicago gambler fights Caesars over $800K winnings

Thomas McPeek didn’t stumble into a lucky streak — he studied for it. The 24-year-old from Chicago spent last year diving into the world of sports betting, placing dozens of complex, high-risk wagers on football — called parlays — based on odds he believed he could beat. “It was a calculated attack where I thought I had an edge,” McPeek told CBS News Chicago. In August, he visited the sportsbook at the Horseshoe Casino in Hammond, Indiana, owned by Caesars Entertainment. To ensure his bets wouldn’t be rejected, he remained anonymous, making multiple small bets at kiosks instead of with a clerk at a counter. He even went so far as to disguise himself with sunglasses or hiding his hair. Over the course of a single week, McPeek says he bet around $30,000 and won $350,000. A month later, he traveled across state lines to employ the same strategies at another Caesars property — the Isle Casino in Bettendorf, Iowa. This time, he says his tickets totaled about $450,000 in winnings. But McPeek says when he tried to cash in, both casinos voided his tickets, citing house rules and anti-money-laundering policies. He says he’s willing to sue to get his winnings.

By Victoria Vesovski | 04.25.25

Thomas McPeek didn’t stumble into a lucky streak — he studied for it. The 24-year-old from Chicago spent last year diving into the world of sports betting, placing dozens of complex, high-risk wagers on football — called parlays — based on odds he believed he could beat. “It was a calculated attack where I thought I had an edge,” McPeek told CBS News Chicago. In August, he visited the sportsbook at the Horseshoe Casino in Hammond, Indiana, owned by Caesars Entertainment. To ensure his bets wouldn’t be rejected, he remained anonymous, making multiple small bets at kiosks instead of with a clerk at a counter. He even went so far as to disguise himself with sunglasses or hiding his hair. Over the course of a single week, McPeek says he bet around $30,000 and won $350,000. A month later, he traveled across state lines to employ the same strategies at another Caesars property — the Isle Casino in Bettendorf, Iowa. This time, he says his tickets totaled about $450,000 in winnings. But McPeek says when he tried to cash in, both casinos voided his tickets, citing house rules and anti-money-laundering policies. He says he’s willing to sue to get his winnings.

By Victoria Vesovski | 04.25.25

4 ways to use holiday cash gifts

Warren Buffett is known for both his generosity and his frugality. That might be why he pulled the plug on large cash gifts for his family after learning they were blowing through the money as quickly as they got it. In a 2019 ThinkAdvisor interview, Buffett’s former daughter-in-law, Mary Buffett, recalled when he gifted her $10,000 in hundred-dollar bills. She reminisced, “As soon as we got home, we’d spend it, whoo!” As the king of investing, not spending, however, the CEO of Berkshire Hathaway quickly decided the gift of shares would be a better investment for his family’s future. With the holidays behind us, you may have been lucky enough to get some cash, as Buffett’s family used to. Tempting as it may be to spend it, follow these tips to use it in a way that the Oracle of Omaha would approve of.

By Gemma Lewis | 04.25.25

Warren Buffett is known for both his generosity and his frugality. That might be why he pulled the plug on large cash gifts for his family after learning they were blowing through the money as quickly as they got it. In a 2019 ThinkAdvisor interview, Buffett’s former daughter-in-law, Mary Buffett, recalled when he gifted her $10,000 in hundred-dollar bills. She reminisced, “As soon as we got home, we’d spend it, whoo!” As the king of investing, not spending, however, the CEO of Berkshire Hathaway quickly decided the gift of shares would be a better investment for his family’s future. With the holidays behind us, you may have been lucky enough to get some cash, as Buffett’s family used to. Tempting as it may be to spend it, follow these tips to use it in a way that the Oracle of Omaha would approve of.

By Gemma Lewis | 04.25.25

Bezos siblings' Amazon stake now worth over $1B

Jeff Bezos' siblings, Mark and Christina, took a leap of faith by investing $10,000 each in a fledgling online book store. Their decision to purchase 30,000 shares of Amazon.com Inc. back in 1996 was a risky move. Bezos tirelessly convinced family members, friends, and potential investors, looking for money to help bring his vision to fruition. But gaining support from investors for his then-high-risk venture wasn’t easy. According to the book “The Everything Store: Jeff Bezos and the Age of Amazon,” he said this to them at the time: “I want you to know what the risks are because I still want to come home for Thanksgiving if this doesn’t work.” While his brother Mark Bezos’ current net worth is unknown, he and his wife Lisa had reportedly made over $600M in profits from those original Amazon (AMZN) shares as of 2018. Mark’s current stake in Amazon is also unknown, but it is estimated the value of the siblings’ shares would have soared beyond the billion-dollar mark by now, according to a Bloomberg report. Bezos also convinced his parents to invest in his startup back in 1995. Mike and Jackie Bezos invested $245,573 in Amazon in exchange for a 6% stake back in 1995 – estimated to be worth $120 billion today. Whether you have $10,000 or just $100 to invest, there are multiple ways you can build wealth, that don’t include playing the stock market or getting your family on board for a risky entrepreneurial venture.

By Moneywise | 04.25.25

Jeff Bezos' siblings, Mark and Christina, took a leap of faith by investing $10,000 each in a fledgling online book store. Their decision to purchase 30,000 shares of Amazon.com Inc. back in 1996 was a risky move. Bezos tirelessly convinced family members, friends, and potential investors, looking for money to help bring his vision to fruition. But gaining support from investors for his then-high-risk venture wasn’t easy. According to the book “The Everything Store: Jeff Bezos and the Age of Amazon,” he said this to them at the time: “I want you to know what the risks are because I still want to come home for Thanksgiving if this doesn’t work.” While his brother Mark Bezos’ current net worth is unknown, he and his wife Lisa had reportedly made over $600M in profits from those original Amazon (AMZN) shares as of 2018. Mark’s current stake in Amazon is also unknown, but it is estimated the value of the siblings’ shares would have soared beyond the billion-dollar mark by now, according to a Bloomberg report. Bezos also convinced his parents to invest in his startup back in 1995. Mike and Jackie Bezos invested $245,573 in Amazon in exchange for a 6% stake back in 1995 – estimated to be worth $120 billion today. Whether you have $10,000 or just $100 to invest, there are multiple ways you can build wealth, that don’t include playing the stock market or getting your family on board for a risky entrepreneurial venture.

By Moneywise | 04.25.25

Arizona senior charged $5K for garage repair

Phyllis Anderson knew something was off with her garage door. It had started making strange noises and sometimes stopped just short of closing completely. But, she never expected that fixing it would cost nearly $5,000. “I’m stunned. I didn’t know what to think or what to do,” Anderson, 79, told AZFamily News. “It’s like a panic situation for me because I have no other money coming in, and it hurts.” Anderson, who lives alone in Fountain Hills, Arizona, was left with an almost empty bank account after paying a $4,911.88 bill for what she thought was a standard garage door repair. The fear she felt may be all too familiar to other older Americans — especially those on fixed incomes.

By Danielle Antosz | 04.25.25

Phyllis Anderson knew something was off with her garage door. It had started making strange noises and sometimes stopped just short of closing completely. But, she never expected that fixing it would cost nearly $5,000. “I’m stunned. I didn’t know what to think or what to do,” Anderson, 79, told AZFamily News. “It’s like a panic situation for me because I have no other money coming in, and it hurts.” Anderson, who lives alone in Fountain Hills, Arizona, was left with an almost empty bank account after paying a $4,911.88 bill for what she thought was a standard garage door repair. The fear she felt may be all too familiar to other older Americans — especially those on fixed incomes.

By Danielle Antosz | 04.25.25

Ray Dalio warns chaos much bigger than tariffs

A fresh wave of tariffs from President Donald Trump — despite a temporary pause on many — has unleashed chaos across global markets, reigniting trade tensions and rattling investors. But billionaire hedge fund manager Ray Dalio says the real storm is still to come. On April 7, in a lengthy social media post, Dalio argued that the recent tariff drama is merely a symptom of deeper, structural problems. “We are seeing a classic breakdown of the major monetary, political, and geopolitical orders,” he wrote. Dalio outlined five forces he described as reshaping the global landscape. 1. The global monetary order Dalio said the global economic order is breaking down due to unsustainable debt and deep imbalances between debtor nations like the U.S. and creditor nations like China. As these imbalances unwind, Dalio warned the current monetary order will be forced to change in “big disruptive ways”, with major consequences for capital markets and the broader economy. 2. The political order Dalio sees the political order of democracies breaking down under the weight of what he calls “huge gaps” in people’s education, income and opportunity levels, as well as values. He said history shows this kind of environment often gives rise to “strong autocratic leaders” — especially when paired with economic and market turmoil. 3. The global power structure Dalio was blunt on this point: “The international geopolitical world order is breaking down because the era of one dominant power (the U.S.) that dictates the order that other countries follow is over.” He argued it’s being replaced by a “unilateral, power-rules” approach. While the U.S. remains the most powerful nation, Dalio said it is now operating under a more self-interested, “America First” framework. 4, 5. Nature and technology Dalio added that “acts of nature” — such as floods and pandemics — are becoming more disruptive, while rapid advances in technology — such as artificial intelligence — are impacting “all aspects of life, including the money/debt/economic order, the political order, the international order, and the costs of acts of nature.”

By Jing Pan | 04.25.25

A fresh wave of tariffs from President Donald Trump — despite a temporary pause on many — has unleashed chaos across global markets, reigniting trade tensions and rattling investors. But billionaire hedge fund manager Ray Dalio says the real storm is still to come. On April 7, in a lengthy social media post, Dalio argued that the recent tariff drama is merely a symptom of deeper, structural problems. “We are seeing a classic breakdown of the major monetary, political, and geopolitical orders,” he wrote. Dalio outlined five forces he described as reshaping the global landscape. 1. The global monetary order Dalio said the global economic order is breaking down due to unsustainable debt and deep imbalances between debtor nations like the U.S. and creditor nations like China. As these imbalances unwind, Dalio warned the current monetary order will be forced to change in “big disruptive ways”, with major consequences for capital markets and the broader economy. 2. The political order Dalio sees the political order of democracies breaking down under the weight of what he calls “huge gaps” in people’s education, income and opportunity levels, as well as values. He said history shows this kind of environment often gives rise to “strong autocratic leaders” — especially when paired with economic and market turmoil. 3. The global power structure Dalio was blunt on this point: “The international geopolitical world order is breaking down because the era of one dominant power (the U.S.) that dictates the order that other countries follow is over.” He argued it’s being replaced by a “unilateral, power-rules” approach. While the U.S. remains the most powerful nation, Dalio said it is now operating under a more self-interested, “America First” framework. 4, 5. Nature and technology Dalio added that “acts of nature” — such as floods and pandemics — are becoming more disruptive, while rapid advances in technology — such as artificial intelligence — are impacting “all aspects of life, including the money/debt/economic order, the political order, the international order, and the costs of acts of nature.”

By Jing Pan | 04.25.25