To help you understand the trends surrounding business and technology and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts. (Get a free issue of The Kiplinger Letter or subscribe.) You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here's the latest…

A pricing war is afoot among cutting-edge artificial intelligence vendors. Meta will jolt the competition with cheaper advanced AI tools for businesses from its new AI model, Muse. SpaceX’s latest Grok AI is built for efficiency and low costs, priced 60% cheaper than Anthropic. Microsoft is shifting from Anthropic and OpenAI to its own, cheaper internal AI tools for apps such as Excel and Outlook.

Meanwhile, cheaper Chinese AI models such as DeepSeek and Kimi are quickly gaining ground, though congressional investigations may lead to attempts to put curbs on the foreign tech. The latest version of Kimi, developed by Chinese company Moonshot AI, has sparked equal measures of excitement from U.S. customers and concern from leading American AI companies and federal officials. U.S. policy concerns include China’s massive government subsidies, intellectual property theft, cybersecurity risks and the general threat of Chinese competition.

The competition could put pressure on profit margins for AI leaders, which still must invest massive sums of money to develop and deploy leading tech. The latest Grok 4.5 model is a threat to Anthropic and OpenAI since it is a "'good enough,' fast, and super-cheap model," writes Neil Shah, analyst at Counterpoint Research, in a recent post. “Now enterprises have an attractive option, allowing them to optimize their AI spend before it spirals out of control.”

But there’s a catch for companies excited to see lower prices: Customers aren’t likely to save money because their AI use is rising so fast — AI is billed based on how much is consumed, which is far outpacing per-unit cost declines.

That remains true even as the long-term trends look promising for customers. Market research firm Gartner says a combination of efficiency improvements in chips, data centers, software and more will drive down prices. "By 2030, performing inference on a large language model with one trillion parameters will cost GenAI providers over 90% less than it did in 2025," according to their analysis from March.

Not all the savings will be passed on to customers, says Gartner, and cutting-edge agentic AI, which automates all sorts of computing tasks, consumes far more AI compute. "Agentic models, for example, require between 5-30 times more tokens per task than a standard generative AI chatbot," says Gartner. (Tokens are the units of data processed by AI. Companies are commonly billed by how many tokens they use.)

So what are companies going to do to reel in AI budgets? “Enterprises will learn and become prudent not to stick to one vendor or model,” according to Shah. That means that most complex tasks can be accomplished with the most expensive, best AI. Simpler tasks can be done with cheaper AI tools.

Gartner recommends that companies maintain a list of tasks that require high-end AI tools, train employees on how to reduce AI costs, post limits on individual token consumption and closely track AI usage.

This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.

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For many Americans, there's a disconnect between what's happening on Wall Street and how they're feeling about their personal finances.

The markets have remained resilient despite periods of volatility. But many people nearing retirement are worried about whether their money will last.

Much of that anxiety stems from inflation, which, for the first time in three years, is now outpacing wages.

That's why retirement planning shouldn't focus on cutting expenses, but rather on building a flexible income plan that can absorb higher costs over time.

Start with net income, not gross salary

Most people think they need to replace their full working salary when they retire. That's not necessarily true.

It's not just about replacing a paycheck. You need to replace the net income that supports your life today while accounting for some expenses that may go away or change in the future.

Instead of gross salary, start with your current net income. This will help you determine what you spend. Add up how much money is coming in each month and compare that to how much is going out.

Once you know what your income needs are, you can determine whether your current assets are enough, whether your retirement timeline needs to shift or whether your investment strategy should be adjusted.

Add a lifestyle and inflation cushion

One of the most overlooked tools to help combat inflation in retirement is the travel budget. Most retirees spend more on travel during the first part of their retirement and then gradually reduce that spending, whether that's owing to poorer health or simply wanting to spend more time around family.

Instead of viewing travel as a temporary expense, think of it as a built-in financial cushion for your retirement. An amount as small as 10% can provide flexibility if inflation rises faster than expected.

While that money may go toward dream vacations, new hobbies and experiences early in retirement, later on, those same dollars can be reallocated toward healthcare costs or other expenses.

Retirement spending categories shift rather than disappear. Because you know the money is there, the travel budget becomes less about leisure and more about being the buffer you need to feel confident in your plan.

A built-in buffer also helps retirees avoid overreacting to temporary market drops or cost increases.

Build the income plan around the gap

Retirement planning isn't only about how much you have saved in your portfolio. $1 million may be more than enough for one retiree but not enough for another. Your retirement depends on spending needs, income sources and your unique timeline.

Once you calculate your expected spending and account for guaranteed income sources such as Social Security or pensions, you can then identify the investment gap.

Your investment decisions should support your income needs. The strategy should be based on what you need your money to accomplish.

While some people may find out they need to work a few more years, many of the people we work with at Blue Ridge Wealth Planners are actually surprised to learn they may be able to retire sooner than expected. Income planning helps you make retirement decisions based on facts, not fear.

In conclusion

Unfortunately, inflation isn't something that you can avoid. It's always going to be a factor that you must account for when planning your retirement, but you don't have to let it eat away at your hard-earned savings. Remember:

• Inflation-proofing your retirement isn't just about investment returns
• It starts with realistic income planning and creating built-in cushions
• You then identify income shortfalls and fill in the gaps

Retirees who create room in their plan through travel budgets or spending cushions are often better positioned to handle rising costs. They can then enjoy a fulfilling and financially confident retirement.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Chances are, you've been with the same bank for years. After all, it's easier to stick with the checking account you have now than to switch to a new one. But every once in a while, it's worth looking at what else is out there.

Even if you're mostly satisfied with your current bank, you may find that a different one better fits your needs, whether with lower fees, higher interest rates, superior in-person services, or more-attractive premium account packages that layer on the perks as your wealth grows. Or you may choose to stick with your current institution for everyday banking and open a savings account or certificate of deposit at an online bank or credit union, taking advantage of high yields on your extra cash.

You'll find plenty of great options to consider here. With the help of LendingTree, which collects deposit-account information, we've analyzed interest rates, fees, balance requirements and other features of accounts at national banks, credit unions, online banks and regional banks, and we've named winners in each of those categories. We've also highlighted two institutions that may be strong choices for customers in each of four profiles: Retirees, high-net-worth clients, travelers and families with kids.

For regional banks, we chose one winner in each of four areas: The Northeast, the Midwest, the South and the West. Interest rates change frequently, so before you commit to any of these accounts, check the current yield. Yields and other terms listed here are as of early July.

Regional banks have between $10 billion and $100 billion in assets and serve specific areas. As a result, they often have more-personalized customer service than you may find with a national bank, and they often reinvest money into the community.

Best in the Northeast: ConnectOne Bank

Where it is: More than 60 locations across New York, New Jersey and South Florida.

Totally Free Checking is, as the name implies, free of monthly fees. It's a simple account, but it allows customers to send money via Zelle. Simply Better Checking also charges no monthly fee, and it reimburses up to $10 monthly in out-of-network ATM fees if you use direct deposit and maintain a $500 average daily balance.

Consumer Interest Checking yields 1.15% on balances of $1,000 or more, and it reimburses up to $10 a month in ATM surcharges if you use direct deposit and have an average daily balance of $1,000. (By keeping your balance at $1,000 or more, you'll also skip the $10 monthly fee.)

Among ConnectOne's savings options, Connect Money Market has a 2% yield, or 2.1% for balances above $25,000. It requires a $1,000 minimum opening deposit, and you need to maintain an average daily balance of at least $5,000 to avoid the $10 monthly fee. Connection Plus Savings offers a 3% yield on balances of at least $2,500, and the CDs come with a relatively low deposit requirement of $500. The four-month penalty-free certificate pays 4%.

Best in the Midwest: Old National Bank

Where it is: About 350 locations in Illinois, Indiana, Iowa, Kentucky, Michigan, Minnesota, North Dakota, Tennessee and Wisconsin.

Old National has four popular checking-account options, including one for students and another for customers 50 and older. ONB Everyday Checking is the basic account for everyday needs, and a recent promotion offered a $600 bonus for signing up and making $12,000 in direct deposits in the first four months. The account comes with a $6.95 monthly fee, but you can get it waived with $500 in monthly direct deposits, a daily balance of $500, a $1,500 daily balance across all qualifying accounts with Old National, or 15 or more debit card transactions during the statement cycle.

ONB Preferred Checking offers free standard checks, and the bank won't charge you for the first five monthly transactions at out-of-network ATMs (but you may pay fees to the ATM operator). Preferred Checking has a $15 monthly charge, but it goes to zero if you have a daily balance of $5,000 in the account or $25,000 across all eligible accounts.

Old National offers a variety of savings options, including a savings account for kids. Among CDs, one with a four-month maturity recently had a 4% yield, with a $500 minimum deposit requirement.

Best in the South: FirstBank

Where it is: About 90 branches across Tennessee, Kentucky, Alabama, Georgia and North Carolina.

Essential Checking includes the basics for no monthly fee, while the free FirstRewards Checking pays a yield of 1.51% on balances up to $25,000 (0.55% on the portion of the balance higher than that) if you meet certain monthly requirements: making 10 debit card purchases, having one qualifying transfer into or out of the account, and receiving e-statements. The account also refunds out-of-network ATM fees.

Swipe Smart Checking, another free account, may make sense for people opening their first account or students who primarily use a debit card (the account doesn't offer paper checks). Other checking accounts include USA Checking for Seniors, for those 62 and older, and Interesting Checking ($8 monthly fee if your balance falls below $1,000), offering a yield of 0.41% on balances of $1,000 to $24,999, 0.45% on balances of $25,000 to $49,999, and 0.5% on higher balances.

For savers, FirstBank's options include FirstUp Savings, yielding 3.82% on up to $25,000. The bank waives the $5 monthly fee if you have a minimum balance of $50. The six- and 30-month CDs ($500 minimum deposit) yield 3.8%, and the Consumer Fed Funds Money Market account recently paid 1.46% on balances up to $99,999, and 2.93% on higher balances (you avoid the $10 service fee if you have an Essential Checking account or keep at least $100,000 in the money market account).

Best in the West: WaFd Bank

Where it is: More than 200 branches across Arizona, California, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington.

Free Checking is WaFd's basic checking account, and Rewards Checking is an elevated version that comes with a $6 monthly fee in exchange for perks such as a discount of 5 cents per gallon on gas at Shell stations, cell phone insurance, free access to the Greenlight program for managing money with kids, and a credit-monitoring service.

Premium Rewards Checking has a $9 monthly fee but comes with more benefits, including dark-web monitoring, 24/7 roadside assistance and telehealth services. Interest Checking offers those benefits plus a yield as high as 0.25% (on balances of $250,000 or more). It waives the $12 monthly fee if you have a $5,000 average daily balance or $50,000 across eligible accounts with WaFd.

WaFd's Savings account, yielding 0.1% on balances of at least $100, is free for minors; otherwise, you can avoid the $3 monthly fee by maintaining a balance of at least $100. Start Savings offers a 5% yield on a balance up to $500, 2.47% on the portion of the balance between $500 and $1,000, and 0.1% on larger amounts. (To open this account, you must have a WaFd checking account.)

If you're looking for better yields on big balances, check out the money market accounts, such as the High Yield Money Market (yielding as much as 2% on $500,000 or more) and CDs. Recently, a certificate with a seven- or 13-month maturity yielded 4% ($1,000 minimum deposit).

Methodology

With data from LendingTree, which collects deposit-account information, as well as from financial institutions and other sources, we evaluated national banks, credit unions, online banks (including online accounts from brokerage firms) and regional banks. We reviewed checking accounts, savings accounts, money market deposit accounts and certificates of deposit.

We looked at features including interest rates; minimum deposit and balance requirements; monthly maintenance fees and the ease of waiving those fees; ATM benefits, such as waived or reimbursed fees for out-of-network withdrawals; free or discounted benefits, such as personal checks, cashier's checks, paper statements and overdraft-protection transfers; overdraft fees; and online and mobile banking features, such as the availability of peer-to-peer payment services. Yields and other data listed in the article are as of early July.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

More Best Banks

• Best National Banks
• Best Credit Unions
• Best Online Banks
• Best Banks for Retirees
• Best Banks for High-Net-Worth People
• Best Banks for Travelers
• Best Banks for Families with Kids

Chances are, you've been with the same bank for years. After all, it's easier to stick with the checking account you have now than to switch to a new one. But every once in a while, it's worth looking at what else is out there.

Even if you're mostly satisfied with your current bank, you may find that a different one better fits your needs, whether with lower fees, higher interest rates, superior in-person services, or more-attractive premium account packages that layer on the perks as your wealth grows. Or you may choose to stick with your current institution for everyday banking and open a savings account or certificate of deposit at an online bank or credit union, taking advantage of high yields on your extra cash.

You'll find plenty of great options to consider here. With the help of LendingTree, which collects deposit-account information, we've analyzed interest rates, fees, balance requirements and other features of accounts at national banks, credit unions, online banks and regional banks, and we've named winners in each of those categories. We've also highlighted two institutions that may be strong choices for customers in each of four profiles: Retirees, high-net-worth clients, travelers and families with kids.

These institutions offer specialized accounts for young people as they learn the ropes of spending and saving, as well as tools for parents to help manage and monitor the accounts.

Interest rates change frequently, so before you commit to any of these accounts, check the current yield. Yields and other terms listed here are as of early July.

Bank of America

Where it is: About 3,600 branches in 38 states and Washington, D.C. (Rates and terms are for customers in Charlotte, N.C.)

For families who want to take their kids to a local branch to learn about banking, Bank of America is a good bet, with locations in most states. And it offers a couple of its Advantage accounts with families in mind; both have no monthly maintenance fee for those younger than 25 and charge no overdraft fees.

The parent-owned SafeBalance for Family Banking checking account, designed for elementary and middle-school children, lets your kids use a debit card, but you can monitor their spending, get alerts when they make purchases, and lock and unlock the debit card. Children 6 and older can log in to their account online to view balances and monitor transactions, but they can't deposit or transfer money.

Teens and young adults can use the SafeBalance Banking checking account, which parents co-own. Starting at age 16, a teen can become the sole owner of the account. Account holders can make deposits and transfer money online, and those 13 and older can send and receive money with Zelle.

For account owners younger than 25, Advantage Savings charges no monthly fee. It yields 0.04%.

Capital One

Where it is: About 250 branches in a handful of eastern and southern states and Washington, D.C.

Children 8 and older can jointly own Capital One's online MONEY Teen Checking account with their parents. The account has no monthly maintenance fee or minimum deposit requirement, and it offers a yield of 0.1%.

Kids get a debit card, which parents can lock or unlock, and you can monitor their transactions with your own account login. You can make transfers into the MONEY account from your own checking account, regardless of whether your account is with Capital One or another institution.

Capital One also offers the no-fee, no-minimum Kids Savings Account, with a 2.5% yield. You can open multiple accounts for various savings goals.

Planning for retirement while raising a family isn't easy. A financial advisor can help you balance today's expenses with tomorrow's goals.

Use the Bankrate tool below to connect with a financial professional and get started:

Methodology

With data from LendingTree, which collects deposit-account information, as well as from financial institutions and other sources, we evaluated national banks, credit unions, online banks (including online accounts from brokerage firms) and regional banks. We reviewed checking accounts, savings accounts, money market deposit accounts and certificates of deposit.

We looked at features including interest rates; minimum deposit and balance requirements; monthly maintenance fees and the ease of waiving those fees; ATM benefits, such as waived or reimbursed fees for out-of-network withdrawals; free or discounted benefits, such as personal checks, cashier's checks, paper statements and overdraft-protection transfers; overdraft fees; and online and mobile banking features, such as the availability of peer-to-peer payment services. Yields and other data listed in the article are as of early July.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

More Best Banks

• Best National Banks
• Best Credit Unions
• Best Online Banks
• Best Regional Banks
• Best Banks for Retirees
• Best Banks for High-Net-Worth People
• Best Banks for Travelers

For years, people have been encouraged to build digital libraries of movies, TV shows, music and books. Buying a movie online seems just as permanent as buying a DVD, until it suddenly isn't.

A recent licensing dispute involving Sony has reignited the debate over digital ownership after hundreds of purchased movies disappeared from customers' libraries. While streaming and digital downloads remain incredibly convenient, many customers are realizing that clicking "Buy" often doesn't provide the same ownership rights as purchasing a physical copy.

That realization is helping fuel an unexpected comeback for DVDs, Blu-rays and other physical media. As subscription costs rise and digital content becomes less predictable, owning a tangible copy is beginning to look like a smart financial decision rather than a nostalgic one.

The Sony situation is a reminder that digital ownership has limits

Sony recently removed access to roughly 500 movies from users' digital libraries after a licensing agreement ended. Many affected customers had purchased the movies years earlier believing they would have permanent access. Instead, those titles simply disappeared from their collections.

While the situation frustrated customers, it also highlighted something that many people don't realize when they purchase digital content: in many cases, you're buying a license to access a movie and not ownership of the movie itself.

When you purchase a DVD or Blu-ray, you own that physical copy and can watch it whenever you like. With digital purchases, access depends on licensing agreements between retailers, studios and distributors. If those agreements change, your access can change too.

That's not unique to Sony. Other digital storefronts have also removed purchased content over the years when licensing deals expired or services shut down, reminding consumers that digital ownership often comes with important limitations.

Why your digital purchases can disappear

Most digital purchases work differently than traditional ownership. Instead of buying the content outright, you're typically purchasing the right to access it through a specific platform under certain conditions.

Several situations can cause that access to disappear:

Licensing agreements expire

Movie studios frequently renegotiate distribution rights. If a retailer loses the rights to host certain content, customers may also lose access depending on the licensing terms.

Platforms can shut down

Digital storefronts don't last forever. If a service closes or eliminates support for purchased content, subscribers may have limited options for recovering their libraries.

Rights change hands

Studios regularly merge, sell content libraries or shift distribution strategies. Those business decisions can affect where and whether certain titles remain available.

Account problems happen

Forgotten passwords, hacked accounts or violations of platform policies can temporarily or permanently affect access to purchased digital libraries.

While many companies work to preserve customer purchases whenever possible, the reality is that digital libraries depend on businesses continuing to operate and maintain the necessary licensing agreements.

Why physical media is making a comeback

DVDs and Blu-rays once seemed destined for extinction. But today, they're quietly returning to store shelves, and into collectors' homes.

Even younger movie fans who grew up with streaming are discovering the appeal of owning physical media. Some are browsing thrift stores, used bookstores and secondhand retailers looking for inexpensive DVD collections.

Several factors are driving renewed interest.

Subscription fatigue

Many households now pay for multiple streaming services every month. Instead of subscribing to five or six platforms indefinitely, some people are choosing to purchase the movies they know they'll watch repeatedly.

Movies disappear from streaming

Streaming catalogs constantly rotate. A favorite movie available today may disappear next month when licensing agreements change, forcing viewers to rent it elsewhere, or wait for it to return.

Better picture and sound quality

For home theater enthusiasts, 4K Blu-ray discs often deliver higher video bitrates and lossless audio that exceed what many streaming services can provide.

If you've invested in a large television or surround sound system, physical media can still offer the best viewing experience.

Collectability

Special edition releases, director's cuts, collectible steelbook editions and bonus features continue to appeal to movie fans.

Reliable offline access

Physical media works without internet outages, buffering or changing licensing agreements. Whether you're traveling, living in an area with slower internet or simply want dependable access, DVDs and Blu-rays provide peace of mind.

When buying physical media makes financial sense

Not every movie belongs on your shelf. But buying physical copies can save money in certain situations.

• Movies you watch every year: If you rewatch the same films multiple times, buying a DVD or Blu-ray once may cost less than repeatedly renting or subscribing to services that carry it.
• Children's favorites: Parents know children often watch the same movie dozens of times. Owning those titles avoids the frustration of discovering they're no longer available on your streaming service the day your child wants to watch them.
• Holiday classics: Many families revisit the same holiday movies every season. Purchasing physical copies guarantees they'll be available every December regardless of streaming rights.
• Hard-to-find films: Independent movies, older classics and niche documentaries often rotate on and off streaming services, or disappear entirely. Collectors who value these titles may prefer owning them outright.
• Box sets and special editions: Complete television series, anniversary collections and bonus-feature editions often provide extras unavailable through streaming platforms.

When streaming is still the better value

Physical media isn't replacing streaming for everyone. Streaming continues to make financial sense in many situations.

Casual viewing

If you only plan to watch a movie once, streaming or renting is usually much cheaper than purchasing a physical copy.

Discovering new content

Streaming services offer thousands of movies and shows for a single monthly subscription, making them ideal for viewers who enjoy exploring new releases.

Convenience

There's no need to store discs or switch media between movies. Streaming also makes it easy to watch across multiple devices while traveling.

Lower upfront costs

Building a large DVD or Blu-ray collection requires an initial investment.

For many households, paying one monthly subscription remains the more affordable option, especially if they watch a wide variety of content.

Don’t count physical media out entirely

Streaming isn't going anywhere, and for many households it remains the easiest and most affordable way to watch movies and television. But the recent Sony incident serves as an important reminder that digital purchases don't always provide permanent ownership.

For favorite films, family classics or movies you plan to revisit for years, buying a physical copy can offer something streaming can't guarantee: lasting access that's not dependent on licensing agreements, internet connections or the future of a digital platform.

In an era where "Buy Now" often means "License Until Further Notice," owning a DVD is starting to feel like true ownership again.

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Most people love saving money. But when the cheapest option wears out quickly, those upfront savings can disappear through repeated purchases, wasted time and constant frustration.

That’s become a recurring theme in online communities like Reddit’s r/BuyItForLife, where consumers regularly compare products that lasted decades against cheaper versions that failed after only a few months or years. Many shoppers say they eventually learned the hard way that "saving money" upfront sometimes meant spending more overall.

From office chairs that fall apart after a year to cookware that fades, luggage that breaks mid-trip and phone chargers that constantly need replacing, certain "budget" purchases can trap shoppers in an expensive cycle of replacing the same items over and over.

Avoiding these money traps doesn't mean you need to buy luxury products or overspend on every purchase. Instead, knowing when it's worth paying a little more for better quality can help you avoid constantly replacing things and save money in the long run.

Replacement cycles add up quickly

One of the biggest problems with buying the cheapest option is how quickly those purchases can turn into a cycle of replacing the same item over and over again.

At first, a $40 office chair or $25 pair of shoes might feel like a smart financial decision. But if that chair starts wobbling after a year or those shoes fall apart after a few months, you may end up spending more replacing them repeatedly than if you had purchased something sturdier from the start.

The hidden cost isn't always just the money either. It’s the wasted time researching replacements, dealing with returns, making extra shopping trips and feeling frustrated when something breaks sooner than expected.

The purchases people regret buying cheap

Certain products come up again and again when consumers talk about purchases they wish they had spent a little more on.

Office chairs and mattresses

People who work from home often say they underestimated how important a comfortable chair really is until they started spending eight or more hours sitting in it every day. Cheap office chairs tend to wear out quickly, lose cushioning and offer poor back support. One Reddit user said they finally upgraded to a better office chair after replacing multiple cheaper versions over the years.

When comparing office chairs or mattresses, consider more than the sticker price. Brands such as Herman Miller, Steelcase and HON have earned reputations for durable office chairs backed by strong warranties.

Mattresses are similar. Lower-quality materials may sag prematurely, leading to discomfort and poor sleep. One Reddit user described replacing a mattress after it developed what they called a "sinkhole" in the middle that caused ongoing back pain.

Mattress brands including Saatva, Helix and Brooklyn Bedding are often recommended for their trial periods and warranty coverage. Many shoppers also turn to Costco, whose generous return policy and Kirkland Signature mattress line make it a popular destination for value-conscious buyers.

Shoes and winter coats

Footwear is another category where shoppers often regret prioritizing price over quality. Cheap shoes may wear down quickly, lose support or crack after heavy use. Higher-quality shoes sometimes last years longer and may even be repairable.

When shopping for shoes or winter coats, it's worth paying attention to materials, construction and warranty policies instead of focusing only on price. Footwear brands such as Red Wing, Danner, Blundstone and Birkenstock are frequently recommended for their durability, and some styles can be repaired or resoled to extend their lifespan.

For everyday athletic shoes, brands like Brooks and HOKA are often praised for comfort and support, though replacement is typically recommended after several hundred miles of wear.

Winter coats can also vary dramatically in quality. Better materials, insulation and stitching often make a noticeable difference, especially in colder climates where coats get daily use for months at a time.

For winter coats, shoppers often point to brands such as Columbia, L.L.Bean, Eddie Bauer and Patagonia for dependable construction and customer service. Patagonia offers repair services through its Worn Wear program, while L.L.Bean and Eddie Bauer have long been recognized for standing behind their products.

Retailers like REI are also popular because of their knowledgeable staff and customer-friendly return policy for members.

Luggage

Luggage might not seem worth splurging on until you're standing in an airport with a broken wheel or jammed zipper. Frequent travelers on Reddit often mention eventually upgrading to sturdier luggage after dealing with repeated travel headaches from cheaper sets that didn't hold up well.

Experienced travelers often recommend luggage brands such as Travelpro, Briggs & Riley, Samsonite and Away for their durability and customer support. Briggs & Riley is especially well known for its lifetime repair guarantee, while Travelpro has long been a favorite among airline crews.

Cookware and appliances

Cookware is another area where cheaper products sometimes create more hassle than savings. Thin pans can warp, nonstick coatings may peel quickly and inexpensive kitchen appliances are often difficult or impossible to repair once something goes wrong.

Several Reddit users also pointed out how frustrating it can be when appliances fail after only a few years and replacement ends up being cheaper than fixing them.

When buying cookware, look for durable materials like stainless steel or cast iron that can last for decades with proper care. Brands such as All-Clad, Lodge, Tramontina and Cuisinart are often recommended for balancing quality and value.

For small kitchen appliances, shoppers frequently praise brands like KitchenAid, Breville and Vitamix for their reliability.

Phone chargers and electronics accessories

Many people have experienced the cycle of buying cheap charging cables that fray, stop working or charge inconsistently after a few months. While replacing a charger may not seem like a huge expense, constantly rebuying low-quality electronics accessories can quietly add up over time.

Instead of buying the cheapest charging cable available, consider using accessories from your phone's manufacturer, such as Apple, Samsung or Google, or trusted brands like Anker and Belkin. These companies have built reputations for durable cables, dependable charging and products that meet safety standards, helping reduce the need for frequent replacements.

Why these purchases often fail

Not every inexpensive product is poorly made, but certain items are more likely to wear out quickly when manufacturers cut corners to keep prices low. Products that get heavy daily use, like shoes, office chairs, cookware and appliances, usually need stronger materials and better construction to truly hold up over time.

Here are some of the biggest reasons cheaper products often fail sooner than expected:

• Lower-quality materials: Thin fabrics, weak plastics and low-grade foam tend to break down faster with regular use, especially when exposed to heat, moisture or heavy wear.
• Weak stitching or construction: Poor assembly can lead to issues like broken seams, loose handles, wobbling furniture or parts falling apart much sooner than they should.
• Poor repairability: Some cheaper products are designed to be replaced rather than repaired, making even small fixes difficult or impossible.
• Lack of replacement parts: When replacement batteries, filters, wheels or other parts aren't available, consumers are often forced to buy an entirely new product instead of fixing the old one.
• Short warranties: Limited warranty coverage can sometimes signal that manufacturers don't expect the product to last very long under normal use.
• Planned obsolescence: Some products are intentionally designed with shorter lifespans so consumers will eventually need to replace them and buy again.
• Heavy daily wear and tear: Items used constantly, like mattresses, shoes and vacuums, naturally experience more stress, so lower-quality versions may wear out much faster.

When spending more actually saves money

This is where the idea of "cost per use" becomes helpful. Instead of focusing only on the sticker price, some shoppers calculate how much value they'll get from an item over time.

For example, a $200 pair of boots worn regularly for 10 years may ultimately cost less per wear than replacing a $50 pair every winter. That doesn't mean you always need the most expensive version. But it can make sense to pay a little more for products that are:

• Used daily
• Difficult to replace
• Important for comfort or safety
• Repairable
• Backed by longer warranties

Shoppers in online discussions often say they now pay closer attention to things like warranty coverage as well as material quality and whether replacement parts are available before making bigger purchases.

How to know when quality matters most

One helpful way to decide where it's worth spending a little more is to consider how often you use something and how much it affects your daily comfort, convenience, or safety.

A common rule of thumb is to prioritize quality for things that separate you from the ground, including:

• Shoes
• Mattresses
• Tires
• Office chairs

These purchases directly impact your body and overall comfort. Cheap shoes can lead to foot pain, poor mattresses can affect sleep quality and low-quality office chairs may contribute to back or neck strain over time.

It can also make sense to spend more on items you use almost every day. For example, if you cook frequently, investing in durable cookware or reliable kitchen appliances may save you from replacing warped pans or broken gadgets every few years.

Another factor to consider is repairability. Products with replaceable parts, longer warranties or repair options may last significantly longer than items designed to be disposable. Before buying, it can help to check whether replacement parts are available and read reviews that discuss the item's long-term durability rather than just first impressions.

At the same time, not every purchase needs to be built to last forever. Trend-based items, seasonal décor or products you rarely use may not require premium materials or top-tier pricing.

You don't always need the premium version

While some products are worth upgrading, there's also a point where spending more stops providing meaningful value.

For many purchases, the best option is often somewhere in the middle: not the cheapest version, but not the luxury version either.

Take kitchen appliances, for example. A basic coffee maker that costs too little may break after a year, but a high-end model with dozens of specialty features may not make sense for someone who simply wants a reliable cup of coffee each morning. In many cases, a well-reviewed mid-range product offers the best balance between durability, functionality and price.

The same idea applies to clothing, electronics and household items. Paying more for solid materials, good reviews and dependable performance can be worthwhile, but chasing every premium upgrade or luxury feature can quickly lead to overspending.

You can save money by focusing on value instead of branding alone. Reading reviews carefully, comparing warranty coverage and choosing products based on actual needs can help you avoid both cheaply made products and unnecessary splurges.

Trying to save money is important, especially as everyday costs continue to rise. But some purchases end up costing more in the long run when they need to be constantly replaced. Being intentional about which purchases deserve a little extra investment can help you save money over time, avoid constant replacements and get more value out of the things you use every day.

Every smart purchase is part of a bigger financial plan. Use the Bankrate tool below to connect with a financial advisor to build a strategy that helps you make the most of your money:

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• How I Tricked Myself into Saving Money
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Welcome to Kiplinger's My First $1 Million series, in which we hear from people who have made $1 million.

They're sharing how they did it and what they're doing with it. This time, we hear from a 45-year-old married mental health professional in social services who lives in Arkansas. She reports that she and her husband have a combined annual salary of $250,000.

See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.)

Each profile features one person or couple, who will always be completely anonymous to readers, answering questions to help our readers learn from their experience.

These features are intended to provide a window into how different people build their savings — they're not intended to provide financial advice.

To learn what these millionaires have taught us, check out the articles 5 Key Insights We Learned From 50 Millionaires and 5 Things 50 Millionaires Wish They'd Known Before They Retired.

And to hear more about My First $1 Million, you can check out this podcast with bestselling author and tax attorney Toby Mathis:

The Basics

How did you make your first $1 million?

Building a net worth of a million dollars took around 12 years for me and my husband. We got married in 2004. Thanks to scholarships and family help, we were both able to go to college. We both graduated with bachelor's degrees with no debt.

It was important to me that he eliminate his credit card debt before we got married, which he did. We were dirt poor but made ends meet working minimum-wage jobs.

We met (while we were getting) our master's degrees and were able to graduate the program without debt again. This was due to my mother paying for my tuition, his grandmother giving him money for a third of his tuition and us paying cash for the remainder.

When we entered the working world, we had no debt but quickly dove in. That's what we had been told adults did. I wish I wouldn't have listened.

We both got jobs that paid $50,000 each. We bought a house with no money down, we financed a car and a motorcycle and decided to have a baby.

I didn't like the state of our financial health, so I educated myself with lots of YouTube videos, blogs and articles. I had a basic understanding of finances but didn't have a good strategy.

Once I figured out how debt held us back and investment could push us forward, we paid off the car, sold the motorcycle, refinanced the house and eventually sold one to buy another.

Buying houses helped build the first million, but we really did it by investing in our company's 401(k), opening and investing in an IRA and steadily saving.

We went from a negative $150,000 net worth in 2008 to a million dollars in 2020.

What are you doing with the money?

Most of our first million is invested in a variety of accounts and investment types. Nothing fancy. Some high-risk, some low-risk, some mutual funds, some bonds.

Our only real estate is our home.

When we hit the million-dollar mark, we didn't do anything fun. I simply just told him with a big grin, and we moved on.

The Fun Stuff

Did you do anything to celebrate?

Not a thing! It was nice to know we did it. Then it was on to the next million.

What is the best part of making $1 million?

Peace of mind.

Did your life change?

Yes. It freed us to make some decisions that were important to us. I was able to drop down to part-time work to spend time with our three children while they were small.

I don't remember much about that time, but I'm glad I did it. We have flexibility at work. We can choose if we wish to continue, and that makes it easier to do so.

Does anyone know you're a millionaire?

I disclosed our financial standing to others. I don't think I will continue doing that. I told my work supervisor so they could understand my motivation for work — I'm not motivated by needing a paycheck, and that's nice. I thought it was important to tell them so they could trust my motivation for helping others.

It changed things when I didn't have to go to work. Now I choose to go to work, and that makes it easier to handle the stress.

My husband feels the same. We keep showing up — and will as long as it suits us. If we suddenly lose our jobs, we would be OK. There's peace in that and peace in having confidence in the choices we make.

I have disclosed it to a sibling, but I think this was a mistake. I won't continue to share growth or changes. My hope is they will assume it's gone badly.

I have told one parent, and they are able to celebrate crossing milestones with me without it complicating the relationship.

I have avoided disclosing to the other parent because they seem to have a different view about money. My intuition says it would be unhelpful to share what we have.

My husband hasn't told anyone. He views money differently than I do. He wants to have enough to enjoy hobbies, have a nice home, travel, and that's about it. He isn't driven by ensuring security like I am. It works out well for us.

Any plans to retire early?

We would like to retire early, I suppose. I'm not sure what life will look like then, so I don't put much dreaming toward those years.

I would like to work less if and when my children have children.

We would like to travel more and work less.

Retirement isn't the goal. Living well and by our values is the goal. Having money makes that possible.

Looking Back

Anything you would do differently?

I don't think we would have done anything differently. However, I wish there had been better financial literacy in my high school and college.

I didn't have any money to invest, but I wish I'd understood the dramatic difference time can make when investing. No one stressed that to me when I was turning 18.

The internet was just getting going at that age, so the wealth of information out there was quite limited.

What advice would you give to your younger self?

The same advice I would give to others (see below). Invest early, even if it's just $10 a pay period.

Saving is a practice, and developing that habit is best if it's done early.

Live below your means.

Avoid paying interest so you can earn interest.

Look for a good deal on big assets.

Did you read any books that helped you on your journey?

I've read a few. Most are pop hits:

• The Total Money Makeover (by Dave Ramsey)
• Rich Dad Poor Dad (by Robert Kiyosaki)
• Die With Zero (by Bill Perkins)

Did you work with a financial adviser?

I hired a financial adviser after we crossed the million-dollar mark. The first person we hired was a nice person but wasn't really available. It was fine, but then he passed away.

The firm handed me over to another person. They notified me by letter, and the new person didn't take the time to call and get acquainted with me.

I took that opportunity to exit that service. We moved over to Wells Fargo. Our adviser there is approachable and kind.

He also keeps our earnings in a good place. I have no complaints. He helps with a longer-term strategy, which I like.

Did anyone help you early on?

My mother told me not to buy anything if I didn't have the money for it. That stuck with me like nothing else. So much so, I wish I would have had cash to pay for the house. Maybe someday we will get to that point.

Looking Ahead

Plans for your next $1 million?

We are almost there. We have been building the second million the same way we reached the first million. If our net worth grows like it has been, we will have accomplished the second million in about six years after getting to $1 million.

I have enjoyed watching the money work and grow.

The news, friends and family are often naysayers, talking about how it's all going to hell. I haven't had that experience.

The plan once we get there is to keep it growing. We will have more money than we will know what to do with, and that's a nice feeling.

Of course, we understand it could all go away, but if it does for us, then it will for everybody else. There's peace in that, too. At least we will all be miserable and stressed together.

Any advice for others trying to make their first $1 million?

Invest early! Don't wait. Put saving first like a bill you pay. Make it a priority. Know what your spouse/partner believes about money.

I lucked out with my husband. He and I have shared goals and values surrounding money, so planning is easy. He trusts my decision-making and goes along with strategies I present.

We fight, but it's not about money. We have enough that we both do what we like.

Invest in any employer plan if you can. We take full advantage of employer matches, and that has given us a healthy boost.

I've shared with my coworkers often that they shouldn't leave that money on the table. Get the match. It's an instant return on investment, often at 100%.

I would also share that we avoided debt like the plague. You won't have money to invest that will earn you money if you are paying all your money to someone else for the privilege of borrowing their money. For example:

We bought into the sales pitch of the local car salesman peddling the idea that having a car payment was beneficial. That lasted about six months, and we got over it. The interest on auto loans butchers any chance of having enough money to invest.

We have paid cash for every car we've owned after that first one. We never buy new, always used.

We were fortunate enough to take advantage of some gains through homebuying. Our first home was financed at 9%. We pitched that as soon as we could and refinanced for 6%. That was still too high, so we sold the house and bought an older home with more square footage.

I kept my eye out for a house and saw one on social media. The owner had died, and their family was looking to finalize the estate, so we made an offer at about 20% lower than market price. Thankfully, they accepted the offer.

We paid the house off within three years. No house payment was amazing, and we hope to be there again soon.

That allowed us to build up $100,000 to put down on our next home.

We sold our home during COVID. That was a fun time to be in the housing market. We sold it, making around $20,000 on the sale.

We stumbled into another great homebuying opportunity. We had enough to make a 20% down payment, so we avoided some costs on a mortgage.

The house was also undervalued, so we gained $60,000 at purchase. That was nice.

We got an interest rate of 3%. We put as much as we can on the house. Saving is the priority, but the house is second. We have a 15-year fixed-rate mortgage.

We should have it paid in half that time.

We avoid credit cards. People tell us that they don't know how we do it. I find them to be tedious. I've had them but hate the idea of having any kind of a balance.

I'd rather just pay for what I need, and the credit card companies can keep their rewards.

We've tried two in the last decade, and both were compromised. I'd rather not fool with it.

Do you have an estate plan?

We do have an estate plan. We each have a will and powers of attorney in place.

We chose a will because we have three minor children who we want to be taken care of should we die unexpectedly.

We also have term life insurance. If one of us dies within the policy time frame, the other will get a healthy little boost. If we both die, then our children will each inherit about a million each.

We have a plan in place for our children should that happen.

Choosing a will was mostly for the purpose of providing direction to the adults in their life.

We chose power of attorney for healthcare decisions and for each other. The healthcare POA was to have something in place in case the worst happened and we needed to make healthcare decisions for the other.

The power of attorney over the rest was for ease. We wanted to be able to conduct business for the other if we needed to.

What do you wish you'd known …

When you first started saving? I wish I had known about the power of compound interest.

When you first started investing? I've invested for as long as I've had the money to do so. I haven't faced a regret just yet. Let's hope that continues.

When you first started working with a financial professional? Our net worth has grown with a financial adviser. I don't know what it would be like without one and find it helpful to have someone who can sort through financial decisions with us.

What do you wish you knew now about being retired?

That question always itches in the back of mind. What am I missing, and what wisdom do retired people have for me? I value learning from the people who've done and can let me in on the strategies they've used.

If you have made $1 million or more and would like to be anonymously featured in a future My First $1 Million profile, please fill out and submit this Google Form or send an email to MyFirstMillion@futurenet.com to receive the questions. We welcome all stories that add up to $1 million or more in your accounts, although we will use discretion in which stories we choose to publish, to ensure we share a diversity of experiences. We also might want to verify that you really do have $1 million. Your answers may be edited for clarity.

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Keith Ward, 61, is proud of his son, who graduated from college in December of 2025 with a degree in information systems. His son was focused during his studies and worked hard to build skills he thought would lead to gainful employment.

Instead, Ward's son is living at home and struggling to find work.

"He's applied to more than 250 jobs, and I think has gotten seven interview requests," Ward lamented. "Five years ago, employers would've been having fist fights to hire him."

Ward's son's experience isn't unique. The rise of AI has made an already tight job market for new applicants even tighter.

As of March 2026, the unemployment rate among recent college graduates aged 22 to 27 was 5.6%, compared to a 3.1% unemployment rate across all college grads, according to the Federal Reserve Bank of New York.

Underemployment is an equally big issue. As of January 2026, 41.5% of recent graduates were underemployed.

The Federal Reserve also found that as of May 2026, 15% of adults ages 18 to 29 who weren't working said they couldn't find a job, while 10% were working part-time because they were unable to find full-time work.

Ward's son is trying to stay positive. For now, he's working part-time in a bookstore.

"It's been frustrating for him because now he's living with us," Ward says. "He wants to be independent. He wants to be working in this field that he trained for. When he started four years ago, there was no thought that AI was going to be taking jobs."

And it's not just Ward's son who's been struggling.

"My wife and I have been planning for retirement. Now we have three of our grown children living with us," Ward says.

Ward's initial plan was to retire within five years.

"But I don't think it's going to happen," he says now. "We're going to continue working until circumstances force us to do something else because we want to have a place for our kids to be."

A troubling trend

Ward's experience isn't unique. A late 2025 AARP survey found that 75% of parents are providing financial support to a child 18 or older. That's apt to impact a lot of people's retirement plans.

Julianne Coleman is 62 and has plans to retire with her husband abroad. Now, those plans are on hold indefinitely as her two 20-something children grapple with the reality of today's workforce.

Her 22-year-old, who's a recent college grad, is especially struggling.

"I just don't know how someone like him who's relatively new to the workforce and relatively green is going to find something fulfilling," Coleman says. "There's all this economic uncertainty created by the AI bubble."

Coleman's daughter, who's 26, is in the midst of a career pivot after landing a job out of college that was too AI-heavy.

"She doesn't want anything to do with AI, even though she's well-versed in it," Coleman says. "She wants to move another way because of how damaging she sees it being."

In the near term, Coleman is spending her own resources to feed her grown kids and provide a roof over their heads. Her dream of retiring abroad hinges on being able to sell her home, which she can't do with her children living in it.

"If my kids were fully independent, we would downsize," Coleman says. But since her kids only have roughly $10,000 in savings each and limited job prospects, Coleman feels stuck.

"The next 15 years are critical in terms of mobility," Coleman says. She's afraid she'll lose out on an opportunity she saved for because her kids can't leave the nest.

Mostly, however, she feels for her kids.

"I'm sad for them," Coleman says. "I feel like we had it so much better."

Data from the Federal Reserve Bank of New York points to the fact that remote work is sidelining young job applicants more so than AI right now. On the other hand, Challenger, Gray & Christmas found that U.S. employers implemented 45,849 job cuts in June, largely fueled by AI. And while those cuts weren't necessarily specific to younger workers, they speak to a worrying trend.

Adam Spiegelman, founder and wealth advisor at Spiegelman Wealth, says he's seeing firsthand how much young adults are struggling.

"In my 25 years as a wealth advisor, I’ve never seen anything like this year," he says. "I’ve received about a dozen unsolicited emails from college juniors, seniors, and recent grads … asking to shadow me or intern at my firm. That’s never happened before."

The trend is much broader, though.

"Many of my own clients are telling me their kids and grandkids are struggling to find work," Spiegelman says. "Whether it’s inflation, the broader economy, AI, or some combination, this generation is having a genuinely hard time landing that first real job, and I’m seeing it push some parents to seriously reconsider their retirement timelines."

Should you delay retirement because your kids are struggling to find work?

AI may not be the only reason your 20-something children can't find work. But should you be altering your retirement plans because of it?

Spiegelman says that while it's natural to want to help your grown children, he thinks it's important to separate support from enabling.

"I have a client right now who’s buying a home for his adult child to live in rent-free — a full-time, able-bodied adult with only a part-time job. That’s a very different situation from a family giving a new grad six months to a year of breathing room while they find their footing," he says.

As Spiegelman explains, both are examples of support, but only one has an exit plan.

"Parents need to have that conversation with each other first, before their child even graduates, and agree on what their expectations are and where the line is," he says.

Steve Sexton, retirement planning expert at Sexton Advisory Group, agrees.

"It's natural for parents to want to help their children, especially when they’ve done everything right," he says. "But the biggest thing I would tell parents is support your adult children in a way that does not quietly derail your own retirement."

Of course, that's easier said than done when your child can't find a job and may be sitting on a pile of student loans to boot. But like Spiegelman, Sexton feels parents should put a dollar amount and timeline around the help they'll provide.

Most importantly, Sexton says, parents should avoid tapping retirement accounts, pausing retirement contributions, or taking on new debt to support an adult child.

"Your child has time to recover financially. You may not. A 23-year-old can rebuild from a tough job market, but a 62-year-old who drains savings … may have a much harder time catching up," he says.

You're allowed to fulfill your own dreams

Ultimately, there are many parents like Ward and Coleman who are in a position to help their kids without necessarily compromising their finances as much as their dreams. But that's also a problem, Spiegelman insists.

"People spend 20, 30, 40 years working and saving so they can retire in their sixties, and that window to actually enjoy retirement — travel, health, time — isn’t unlimited," he says. "Continually pushing that back to subsidize an adult child who could be working is usually not serving anyone well, including the child."

If parents feel they haven’t set their kids up with the right financial habits, Spiegelman says it’s not too late to have that conversation now.

"Start charging rent after a reasonable grace period, and scale support down deliberately rather than indefinitely," he says.

Spiegelman also recommends bringing in a financial adviser or CPA as the “bad guy.”

"It’s a lot easier for a parent to say 'our adviser says we can’t keep this up if we want to retire on schedule' than to have that conversation alone," he says.

Of course, some young adults are as fiscally responsible as can be, yet have simply fallen victim to circumstances. That's the situation Ward and Coleman are in. And they're working to make their peace with a potential change of plans.

As Ward says, "We're fortunate enough to live on five acres in a great setting. It's a large house and a good place for grandkids."

And, he says, "I certainly do love having the kids around."

If he's ultimately forced to delay retirement, that's at least one consolation prize.

Read More

• 'Subsidized Adulting': Can You Afford to Help Your Children Financially?
• I Retired at 63 to Enjoy My Free Time, But My Grown Kids Want Help With Childcare
• The Real Cost of Funding Adult Children: Postponing Retirement
• We Are 65 With $2.6 Million. One of Our Two Daughters Struggles Financially. Is It Fair if We Only Help Her?

Costco has agreed to a $14 million settlement to resolve a class action lawsuit alleging the warehouse club sent misleading promotional emails to customers in Washington. While the settlement has received preliminary court approval, the details — including how much each eligible customer will receive — are still being worked out.

The promotional emails in question were sent out between June 2, 2021, and July 7, 2026. As part of the terms of the settlement, Costco denies any wrongdoing and says it complied fully with the law.

While the settlement awaits final approval, here's what Costco members need to know about who's eligible, how to file a claim and what to expect.

What is the Costco class action lawsuit about?

The class action lawsuit filed on June 2, 2025 alleges that Costco sent out promotional emails with misleading subject lines, violating the Washington Consumer Protection Act and the Washington Commercial Electronic Mail Act.

For example, the warehouse club sent out emails with allegedly misleading subject lines like "Today is the last day to access Member-Only Savings" and "Hot Buys available for 5 Days Only." The lawsuit alleges the emails "advertised temporary or time-limited promotions to consumers, when in fact Costco knew it was going to extend those promotions past the stated time frame."

In short, the lawsuit claims Costco used misleading statements to pressure customers into making purchases during "limited time" sales that the company already intended to extend beyond the stated end date.

If the settlement receives final approval, the case will end without Costco being found liable under Washington's Commercial Electronic Mail Act. That means even if you're eligible to file a claim, you shouldn't expect to receive the law's maximum statutory damages of $500 per qualifying email. Instead, eligible customers will receive a share of the settlement fund based on the final terms approved by the court.

Who is eligible for a payout from the Costco settlement?

To be eligible for a payout, you must have lived in the state of Washington and received a commercial email from Costco at some point between June 2, 2021 and July 7, 2026. You may have already received an email about your eligibility to file a claim. If so, you can use the Claim ID and other information in that email to file a claim online.

If you haven't already received an email notifying you that you might be eligible, you can go to the court-approved website, washingtoncommercialemailsettlement.com, to file a claim without a Claim ID and see if you are, in fact, eligible.

What is the deadline to file a claim?

If you believe you're eligible, file a claim through the court-approved website by August 24, 2026. If you don't submit a claim, you won't receive a payment.

If you want to be excluded from the settlement — say, because you'd like to file a lawsuit on your own — you need to opt out by that same August 24 deadline.

When will payments go out in the Costco settlement?

A date has not been set yet for the payouts because the complete terms have not been finalized. A final approval hearing is scheduled for October 2, 2026 so you can expect to see more specific details sometime after that.

In the meantime, make sure you file your claim (or your intention to opt out) by the August 24, 2026 deadline to ensure you'll get any money you're entitled to.

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Each week in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter editor, answers questions on topics submitted by readers. This week, she's looking at four tax questions from readers on the taxation of I bonds in various situations. (Get a free issue of The Kiplinger Tax Letter or subscribe.)

1. Buying and owning I bonds

Question: I am thinking about buying I bonds for the first time. I heard that holders of I bonds get generous tax breaks. What are the tax consequences of owning these bonds?

Joy Taylor: I bond buyers have a choice when they acquire the savings bonds. They can pay federal income tax each year on the interest earned or defer the tax bill to the end. Most people choose the latter. They report the interest income on their Form 1040 for the year the bonds mature (generally, 30 years) or when they're cashed in, whichever comes first.

Deferring tax on the full amount of accrued interest for up to 30 years may sound like a great idea until you get the tax bill for three decades' worth of interest. Also, taking the tax hit all at once can push you into a higher federal income tax bracket, making the tax bill even more expensive than it needed to be.

Interest earned on I bonds is exempt from state and local taxation.

2. Gifting an I bond you own

Question: I own about 50 I bonds that will begin to mature in 2030. I elected to defer taxation of the bonds' accrued interest until maturity. I am considering giving some of the I bonds to my grandchildren before they mature. If I do this, can I avoid paying federal income tax on the deferred interest?

Joy Taylor: Nope, this will not work taxwise. Making a gift of an I bond before maturity will accelerate taxation of the interest income. Giving away bonds you already own to someone else doesn't get you off the hook with the federal government for owing tax on previously untaxed interest. Even if the bonds are reissued in the gift recipient's name, you're still taxed on all that interest in the year of the gift.

3. I bonds used for education

Question: I have owned I bonds for many years. I heard that if I cash in the bonds and use the bond proceeds for higher education for my children, then I won’t have to pay tax on the interest when I cash them in. Is this true?

Joy Taylor: It depends on whether you meet all of the rules. One way to avoid paying federal income tax on accrued I bond interest is to cash in the bonds on or before the maturity date and use the proceeds to help pay for college or other higher education expenses for you, your spouse or your dependent. Note that there are lots of hurdles to jump over to be able to take advantage of this tax perk. Here are some of them:

• You must have purchased the bonds after 1989 when you were at least 24 years old.
• The bonds must be in your name only.
• The bonds must be redeemed to pay for undergraduate, graduate or vocational school tuition and fees for you, your spouse, or your dependent (grandparents cannot use this tax break to help pay for their grandchild’s college tuition unless the grandparents can, on their Form 1040, claim the grandkid as a dependent).
• Room-and-board costs aren’t eligible for the exclusion.
• The exclusion is subject to strict income limits. For 2026, it begins to phase out at modified adjusted gross income (MAGI) of more than $152,650 for joint filers and completely phases out at MAGI of $182,650. For all other filers, the phase-out range for 2026 is $101,800 - $116,800. These figures are adjusted for inflation each year, so they would be higher for 2027 and so forth. MAGI for this purpose starts with the AGI on line 11 of your Form 1040 (figured without taking into account any I-bond interest exclusion). Then you add back any tax breaks from working abroad, the exclusion for employer-provided adoption assistance and any deductions for student loan interest.

If the proceeds from all I bonds cashed in during the year exceed the qualified education expenses that you pay for the year, the amount of I bond interest you can exclude is reduced proportionally. You would use IRS Form 8815 to compute your MAGI and the amount of any I-bond interest exclusion that you would be entitled to.

4. Inherited I bonds

Question: I inherited I bonds this year from my father, who recently passed away. It is my understanding that my dad elected to defer being taxed each year on the I bonds during his lifetime. Do I have to report all the accrued, deferred interest on my federal tax return?

Joy Taylor: It depends. The executor of a decedent's estate can choose to include all pre-death interest earned on the bonds on the decedent's final income tax return. If this is done, the beneficiary reports only postdeath interest on Form 1040 for the year the bonds mature or are redeemed, whichever comes first.

If the executor doesn't include the interest income on the deceased owner's final federal income tax return, the beneficiary will owe taxes on all pre-death and post-death interest once the bond matures or is redeemed, whichever is earlier.

About Ask the Editor, Tax Edition

Subscribers of The Kiplinger Tax Letter, The Kiplinger Letter and The Kiplinger Retirement Report can ask Joy questions about tax topics. You'll find full details of how to submit questions in each publication. Subscribe to The Kiplinger Tax Letter, The Kiplinger Letter or The Kiplinger Retirement Report.

We have already received many questions from readers on topics related to tax changes in the One Big Beautiful Bill, retirement accounts and more. We will continue to answer these in future Ask the Editor roundups. So keep those questions coming!

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My father was a general agent at Manulife when he was diagnosed with a rare neurological disease at 56. The disease progressed slowly, gradually taking his ability to write, then to speak. I attended his client meetings, became his hands and eventually his voice.

Because he had disability insurance, my family never had to worry about money during the most difficult years of our lives. That is the story I carry into every client conversation.

Campaigns like Disability Insurance Awareness Month serve as a useful reminder of when and how to introduce disability planning into client conversations. Of course, individual situations and outcomes vary, but that's exactly why I believe so strongly in having this conversation early.

The right time to broach the subject is before a client thinks they need it. Most people have never been seriously asked what would happen to their income if they couldn't work. The longer that question goes unasked, the harder it becomes to answer without a crisis forcing the issue.

The common objection — "it won't happen to me" — is best met with storytelling rather than hard data. My father's story often opens the door to a more personal question: "What's your plan if something happens to you?"

The role of disability insurance in a financial plan

Disability insurance is typically framed as income replacement — a safety net in case you can't work. That framing tends to undersell its value. For high earners, it's something more fundamental: The protection that keeps everything else in a financial plan intact.

For illustrative purposes, consider a scenario where a client earning $1 million a year becomes disabled. Their group plan has a hard cap at $10,000 a month, which protects only $120,000 of their annual income. Meanwhile, the market is down.

With no individual disability policy, they can draw down the retirement portfolio they spent decades building, or dramatically alter the lifestyle they planned around. Without disability protection, their financial plan is exposed.

Think of disability insurance as a lever. When you're disabled and not generating income, everything else in the plan — investment accounts, college savings, a family's lifestyle — depends on that lever holding up. If it fails, the plan may fail with it.

Disability insurance policy features

Once a client is ready to consider buying disability insurance, the conversation moves to policy mechanics.

The elimination period is the waiting period before benefits begin, typically 90 or 180 days. Ninety days is generally the right balance of cost and coverage, whereas 180 days is too long for many clients. Existing short-term group coverage can help determine which is appropriate.

The own-occupation definition matters most for professionals whose work is highly specialized. A dentist who develops chronic back problems from years of leaning over patients may never return to dentistry, but could technically work in another field.

Without own-occupation coverage, that dentist may receive no benefits. With it, they may be better protected, depending on policy terms.

The recovery provision is the least understood and can be particularly valuable in certain situations. When a recently disabled client returns to work but earns less than they did before, this provision bridges the income gap.

For commission-based professionals and business owners, the income rebuilding period can be just as financially damaging as the disability itself. A financial adviser who goes on claim for a year and returns with an empty pipeline may need six to 12 months to rebuild.

The recovery provision fills that period. Some carriers cap it at one year, while others extend it for the full benefit period.

Disability insurance vs business overhead expense insurance

Disability income insurance protects a business owner's personal income. Business overhead expense (BOE) coverage protects the operating costs of the business itself — rent, staff salaries, equipment, administrative expenses — while the owner is unable to generate revenue.

Most advisers can walk a client through this distinction without hesitation. The harder conversation, and often the one that hits closest to home, is the one they need to have with themselves.

Many advisers own their practice but do not have BOE coverage. They are, by definition, business owners, and every adviser who has committed to office overheads, support staff or an independent practice structure carries the same risk exposure as any other self-employed professional.

When a disability sidelines the person responsible for bringing in revenue, the fixed costs of the business don't pause. BOE coverage ensures those obligations are met and the business remains intact while the owner recovers.

Most policies have a maximum benefit period of two years, may be tax-deductible in certain circumstances, and are relatively affordable, particularly compared to the exposure they offset.

BOE coverage also changes the psychology of recovery. An adviser who has suffered a serious illness or injury faces enormous pressure to return to client-facing work before they're ready, knowing that every day out is a day the business is stalling.

A BOE policy removes that pressure. It makes it possible to focus on getting well, and to keep the promises made to clients in the process.

The importance of planning ahead

Disability planning has to happen before the diagnosis. Once a serious illness or injury happens, cognitive function is affected, decision-making is harder, and the ability to evaluate options clearly is compromised. The coverage, policy details and business overhead protection should all be in place before they're needed.

Disability doesn't discriminate by age, fitness or risk profile. It can happen across a wide range of individuals and circumstances, and is most likely to occur during the long window of working years, when income is highest, obligations are greatest and the financial consequences of losing that income are most severe.

The advisers who serve their clients well on this are the ones who treat disability coverage as a standard part of every financial plan.

This article is intended for informational purposes only and does not constitute financial, insurance, or tax advice. Individuals should consult their own qualified professionals to evaluate their specific circumstances before making decisions.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

If you're like me, drinking coffee is one of the few relaxing parts of your day. Yet, do you ever think about the value you receive from your daily cups?

The thing is, coffee is a crop, but some companies don't treat it as such. Instead, they roast beans in large batches and ship them to grocery stores where they sit on shelves and lose peak freshness and taste.

With supply chain disruptions, geopolitical conflicts and climate change increasing coffee costs, you're paying a premium for logistics disguised as quality. Real freshness comes from transparent roasters that can show the methods behind their techniques. Here's what to look for to avoid the quiet cons in every coffee aisle.

A hidden factor that unlocks a coffee's true value

"The roast date is the true indicator," Kate Harner, a marketing and communications coordinator at Fresh Roasted Coffee Inc, a family-owned coffee roaster, tells Kiplinger. Yet, finding many coffee companies' roasting dates can be like finding a needle in the world's largest haystack.

"Many companies don't disclose the roasting date because then they would need to provide verifiable data," Harner says. And this is crucial too, given that coffee's peak freshness is within the first month after roasting.

That's why I won't buy coffee without a roasting date. I've also discovered that coffee brands that talk a big game usually don't deliver on freshness, taste or value.

Buying better coffee doesn't mean you'll spend less per bag. The key is to focus on the coffee's usability. If you open a bag from the grocery store and it only lasts a week or shorter, you're paying a premium for a product that doesn't last as long as it's intended, forcing you to spend more.

Here's a breakdown of coffee costs per type and the value each delivers:

What to look for from your favorite coffee brands

Since you're not likely to find the information you want on your favorite coffee company's bag, you'll need to do a little detective work. Harner recommends looking for specific, verifiable signals revealing true freshness, rather than relying on "best by" dates.

When evaluating a brand, look for these indicators:

• A roast date: Unlike a "best by" date, which often obscures the coffee's true age, a printed roast date confirms when the coffee was actually prepared.
• Companies that roast to order: Look for brands that roast to order or in small batches, rather than large-batch roasters, where coffee sits on the shelf and loses flavor and freshness.
• Nitrogen flushing: Roasters focused on quality flush bags with nitrogen during packaging to remove any oxygen. This preserves the coffee's flavor until you're ready to brew it.

Beyond the packaging, Harner says, "Go to the company's site, research their roasting process, and find any sourcing or roasting certifications. Then, you can determine if the price truly matches the quality."

Choose substance over hype

Be skeptical of any coffee company promoting buzzwords like "clean", "mold-free," or "artisanal." These are not verifiable descriptions; instead, they serve as marketing gimmicks to justify higher prices.

True transparency resides in hard evidence. As you research a company, look for verifiable certifications, such as the USDA Organic seal or GMO-free labels. This transparency can reward you with better-tasting coffee and your wallet with better value with every cup.

Ultimately, the best coffee isn't the most expensive; it's the freshest. By ignoring the buzzwords and seeking out roasters that offer roasting dates, you ensure that every dollar you spend on coffee results in a cup worth drinking.

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Every year, the FAFSA changes a little, and every year most families skim the headline and move on. This year, it's worth having a closer read. The 2026-27 form carries some of the biggest scoring changes in years, and they cut in two directions.

A few families will open their aid offer and find it suddenly brighter. Others will discover a door that used to be open has quietly closed. The trick is knowing which side of the line you land on before you file, not after.

The friendlier part: Your business or farm may stop counting against you

For years, one of the FAFSA's sore spots was how it treated families who owned a small business or a farm. If you ran a modest company or lived on the land you farmed, that net worth could inflate what the government decided you could afford.

None of it was cash you could hand to a bursar, but the formula counted it anyway. Plenty of self-employed parents watched their aid shrink because of an asset they could not actually spend.

That changes for 2026-27. The Student Aid Index, the number that drives your whole aid package, no longer counts the net worth of:

• A family-owned business with 100 or fewer employees
• A farm the family lives on
• A family-owned commercial fishing operation

If you are a small business owner, a farmer or self-employed, the household that looked too wealthy on paper last year may look very different this year. The same income, the same family, a lower SAI, and potentially more aid. It is a rare FAFSA change that simply helps.

The stricter part: A hard ceiling on the Pell Grant

Now the other edge. For the first time, the FAFSA puts a hard ceiling on who can receive a Pell Grant. If your Student Aid Index comes in at or above twice the maximum Pell award, you get nothing.

The maximum Pell for 2026-27 is $7,395, which sets the cutoff at an SAI of $14,790. Land below it and you may qualify. Cross it by a single dollar and the grant disappears, with no partial award and no sliding scale above the line.

This is genuinely new. Under the old rules, a family near the edge might still scrape together a small Pell award. That cushion is gone. The line is bright and it is final.

A second change pulls in the same direction and gets less attention: If you claim the foreign earned income exclusion, that amount now gets added back to your income when the formula checks Pell eligibility. Families with income earned abroad will see a higher number than they are used to, and some will land on the wrong side of the cutoff because of it.

The families most exposed here are the ones who sit just above the threshold. A household a few thousand dollars over the line loses the entire grant, while a near-identical household just under it keeps it.

If you think you are anywhere near $14,790 on the SAI, it is worth knowing your number before you file rather than guessing. A Student Aid Index estimator and Pell eligibility guide can tell you which side of the line you are on while you still have room to plan around it.

The new gatekeeper: Identity checks built into the form

There is also a change in how you file, not just what you report. Starting April 26, 2026, every FAFSA runs through real-time identity fraud detection the moment it is submitted.

Most people will sail through and never notice. But applications flagged as high-risk trigger an extra step: A camera-based check of a government ID, done on a phone or tablet. The Education Department has already pulled roughly 300,000 of this year's forms for added verification.

None of this should scare anyone off. The same overhaul made the form shorter, with as few as 36 questions, and sped up identity checks for people who open a StudentAid.gov account with a Social Security number.

The practical takeaway is small and easy: Have a valid government ID within reach, file from a device with a camera if you can, and do not panic if you are asked to prove you are who you say you are. It is a speed bump, not a roadblock.

What to do before you file

A few moves make the difference between a pleasant surprise and an unpleasant one.

Run your SAI first. Your Student Aid Index decides almost everything downstream, including whether you clear or miss the Pell cutoff. Estimating it early turns the whole exercise from a guess into a plan. This FAFSA and SAI guide walks you through the process.

If you own a business or farm, do not assume last year's result. The asset rules changed in your favor. A family that did not qualify for much aid before should have another look under the new formula.

If you are near the Pell line, know the number. The cutoff for 2026-27 is an SAI of $14,790. Being just over it costs you the full grant, so it pays to understand what is driving your figure before you submit.

Be ready for the ID step. Keep a government ID handy and file from a phone or tablet with a camera in case you are flagged for verification.

The bigger picture

The 2026-27 FAFSA is easier to fill out and, for a meaningful number of families, more generous. It is also blunter than the version it replaced.

The business and farm break is real relief for households that always felt overcounted. The Pell ceiling is a hard stop that did not exist a year ago.

It is the same form for everyone, with two very different outcomes baked in, and which one you get turns on details most families never look at until the money is already on the line. This is the year to look early.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Being frugal is generally a great thing. It's a way of being more intentional about how you spend so that you can build wealth faster by avoiding wasteful spending habits. But there are some seemingly frugal habits that are never worth it and some that only make sense when you're in the wealth-building phase of your life.

In the pursuit of maximum savings, you may have been practicing the following frugal habits. If so, that's fantastic. They definitely helped you get where you are today.

But as you approach retirement or otherwise reach the level of wealth you've been working toward, it may be time to retire these three frugal habits and shift your mindset toward one of maximizing the value of your spending.

1. Aggressive saving

For most of your career, the more you could set aside in savings, the better. Finding little ways to cut your budget and live below your means in this phase of your life can ensure that you're financially secure and able to live out your dream retirement later.

However, once you're retired or you've already hit your retirement savings goal, it's time to get yourself out of the aggressive savings mindset that worked in your favor in the past. Instead, switch into the mindset of enjoying the wealth you worked so hard to build.

This can be a hard transition to make – especially when you've gotten so used to watching your retirement fund grow over the years that seeing it shrink as you withdraw can be anxiety-inducing.

Of course, you don't want to blow all your savings on a yacht and then be broke for the rest of your retirement. But as long as you know how much you can sustainably spend each year, spend it.

Instead of carving out a portion of your monthly budget for savings, the focus now is on identifying a reasonable fixed income you can live on and making sure that includes a little wiggle room for emergencies. You can revisit this each year to decide if your current withdrawal amount is still sustainable, but there's no reason to hoard that cash or aggressively stash more away after you've hit your savings target.

If you're struggling to switch mindsets or not feeling confident that the fixed income you've planned for is truly sustainable, it helps to talk with a financial planner who can review your situation and help you develop a personalized spending plan.

2. Paying for things with cash or debit

As a young adult, it's smart to avoid using credit cards or only use them in limited situations to build your credit. When you're still learning how different financial tools work, how to make (and stick to) a budget, and how to plan for longer-term financial goals, credit cards can come with more risk than they're worth.

However, when you've built up your credit and honed those disciplined spending skills, sticking strictly to cash or debit payment methods is like leaving money on the table.

Instead, you should be building a custom mix of rewards credit cards to maximize cash back and points based on the way you spend. I earn hundreds each year in cash back on gas and groceries, for example, and thousands of points on my travel credit card. None of that requires changing my spending habits. All I'm doing is taking a few seconds to make sure I'm swiping the right credit card for each purchase.

If you're new to the world of rewards credit cards, your best bet might be starting with something more all-purpose – where the earnings are the same across every spending category – and, ideally, something without an annual fee so you can build the habit without worrying about whether or not you're earning enough to justify an annual fee.

3. Buying basic economy fares

If you travel infrequently, the best value is often in basic economy, especially if you're not the type to care about luxury perks like lie-flat seats or airport lounge access. These fares often won't earn you points or miles, and many don't include things like baggage or seat selection. But you can often get around the extra fees by not bringing a checked bag and being flexible about your seat assignment.

Upgraded fares make the most sense for those who are focused on earning points or those who travel often enough that the inconveniences and add-on fees that come with basic economy are annoying enough that upgraded fares are worth it.

If you have no intention of traveling more often once you reach your financial goals, this might be a frugal habit worth keeping. But if your dream retirement involves a bucket list of travel destinations, it's time to start comparing frequent flyer programs and travel credit cards so that you're earning points on every trip.

In order to earn points, you might not be buying the cheapest fares anymore, but you're usually getting other perks like free checked bags, free companion fares and, of course, the points that add up to free flights or hotel stays. As long as you do the math and choose the programs that best fit your travel style, these programs can end up being an even more frugal choice than basic economy fares.

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As of this week, e-bike riders in New Jersey will need to register their bikes, have driver's licenses and, for some bike types, get insurance. Essentially, your e-bike is going to be regulated a lot more like a car or motorcycle.

If you've been using your e-bike as a way to save on transportation or give your kid a way to get around town before they're old enough to get a driver's license, these new regulations might seem like a hassle. But the changes come in response to a spike in e-bike related accidents in the state.

The new law aims to make riders safer and better protected on the road. Though, some advocacy groups argue that the New Jersey law is too restrictive and unfairly lumps lower speed e-bikes in with their higher speed counterparts. Whether you like the new laws or not, here's what you need to know before you head out for your next e-bike ride in New Jersey.

What e-bike riders need to know about the New Jersey law

With the new law in effect, a few things have changed for e-bike riders. Here are the most important changes:

• Any motorized bike, including pedal-assisted models and those with throttles will now need to be registered and riders will need a driver's license, an e-bike license or an e-bike permit to ride it.
• If your e-bike can reach speeds higher than 20 mph, you also need to get insurance in addition to following the license and registration requirements.
• If your e-bike can reach speeds higher than 28 mph, New Jersey now regulates it like a motorcycle — meaning you'll need a motorcycle license or an "M" endorsement added to your driver's license. You'll also need to meet the minimum insurance requirements for motorcycles, rather than the requirements for e-bikes.

If you already have a driver's license, you don't need an additional license for the e-bike. But you do need to carry your license along with registration and proof of insurance while riding.

If you don't have a driver's license, you can apply for an e-bike license or e-bike permit. This involves passing a knowledge test and scheduling a road test, similar to the process for getting a standard Class C driver's license.

If your driver's license was suspended or revoked and you were using an e-bike as an alternative form of transportation, you can no longer do that. You'll need to switch to public transit or a non-motorized bike.

How to get e-bike insurance

New Jersey's Department of Insurance is still working with insurance companies to finalize a list of approved e-bike insurance providers. In the meantime, the minimum coverage requirements you'll need to meet are as follows:

• Bodily injury liability: $15,000 per person/$30,000 per accident
• Property damage liability: $5,000
• Policies also need to have personal injury protection (PIP) for pedestrians.

Right now, the liability coverage in a standard home or car insurance policy wouldn't cover you on an e-bike. So, you'll either need to add e-bike coverage onto one of your existing policies or buy standalone e-bike insurance that meets the minimum requirements above.

Fortunately, standalone e-bike insurance is likely to be pretty affordable. A liability-only policy can cost as little as $75 per year, according to Progressive, which already offers e-bike insurance.

But, like car insurance, some providers may also offer full coverage policies. Given how expensive e-bikes can be, getting collision or comprehensive insurance to ensure you'll have the cash to replace your ride if it's damaged can be worth it — especially if it's become your primary mode of transportation.

Meanwhile, some insurers allow you to bundle limited forms of e-bike protection into your existing policies.

Lemonade, for example, would already cover your bike against theft or certain types of damage under a typical home or renter's insurance policy. But the company also allows riders to add an extra coverage rider to their policy that would act similarly to collision insurance. The company doesn't appear to offer liability coverage for e-bikes similar to what New Jersey now requires.

Since it's still a relatively new insurance product, not all providers offer it or offer versions that would comply with the New Jersey law. But it's still a good idea to start your search by getting a quote from your current insurer for either car or home insurance. If either of them offers e-bike insurance, you might be able to take advantage of bundling discounts.

Use the tool below, powered by Bankrate, to compare quotes:

Other states might soon follow New Jersey's lead

At least three other states have proposed similar registration and insurance requirements for e-bikes, according to People for Bikes, a nationwide advocacy group focused on improving cycling-related infrastructure and policy. That includes the garden state's neighbor, New York as well as California and New Hampshire.

So far, no other state has implemented insurance requirements like New Jersey has, but Hawaii does require e-bikes to be registered and many states have minimum age requirements for Class 3 e-bikes (defined by most states as bikes that can go faster than 20 mph).

As e-bikes gain in popularity, riders should keep an eye out for changing laws in their state.

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Scams are on the rise. Total fraud losses reported by adults ages 60 and older have surged about fourfold between 2020 and 2024, according to the Federal Trade Commission. Imposter scams have been the most reported type of fraud, with losses in the billions.

"There was a dramatic increase in the number of older adults reporting losses of over $100,000, and that was often to investment scams, romance scams, and imposter scams," says Christopher Brown, an attorney at the Federal Trade Commission.

Scammers pretend to be someone you trust to convince you to part with your money or personal information. As widespread as scams have become, many people still don't report them.

"It's even beyond the stereotypes or the stigma behind it," says Ebony White, director of economic security and social safety net initiatives at the National Council on Aging. "It's also a fear of [them] losing their independence because then people might say, 'Oh, well, you can't make good decisions around your money.' But [the truth is that] anybody can be scammed."

Here is some basic information that can help protect you and your loved ones against scammers.

1. Scams have become more complex.

Years ago, scams were more predictable. They were "kind of cliché, and we started to recognize the patterns," says Chelsea Binns, an associate professor at John Jay College of Criminal Justice in New York. But artificial intelligence and other technology advances have made fraud become more convincing and complex.

"Nowadays, there are many more tools in the fraudster's toolbox," Binns says. Fraudsters can be anywhere in the world and make themselves look like just about anybody.

2. Scammers rely on you clicking on something familiar.

Scammers rely on familiarity and consistency. So scammers make their emails, texts and websites look legitimate, leading us to click links and send money before realizing it's a scam.

A common email scam is a notice that appears to be from the IRS. Scammers also create fake versions of legitimate websites, such as Apple's or IBM's. Some victims who believed they found a Microsoft help desk ended up on a lookalike site that gave a fraudster access to their computer.

3. Common scams start from unexpected communication.

Many scams begin when someone reaches out unexpectedly by phone, social media, text message or email. For example, you receive an Evite from a friend you haven't heard from in 15 years, click the link, and inadvertently give a scammer access to your computer.

Other scams pressure you to take action. They tell you not to hang up the phone because your Social Security number has been implicated in a drug smuggling cartel. Sometimes they threaten you.

"Government impostors assert authority in terms of a threat of consequences, whether that be the loss of particular government benefits, arrest or prosecution," says Brown, the FTC attorney.

4. Complex scams try to establish trust.

Romance scams are common, where scammers build a relationship with you using information they find about you online. They may say "I love you" early in the relationship.

"Then they'll use that [connection] to perpetrate frauds because the person, the victim, is disarmed and thinks this is now their partner," says Binns, the associate professor. Eventually, they'll ask for money.

In other situations, a scammer may take four or five months to build a relationship before asking you for anything, says White, the director at the aging council. "That makes it scary too because they really build their patience and that trust with you."

Relationship-based scams, where someone reaches out and claims to be a family member in trouble who needs money, are also common. AI has made it easy for a scammer to clone someone's voice, making it difficult to tell whether the caller is real or fake.

5. Protect yourself by taking a step back.

Before responding to any correspondence, take a minute to process the situation. If you think an email or text message is authentic, try to verify it by actually contacting the person or organization in question using a telephone number, website or email address you know is real.

Check websites to make sure they are correct. One additional letter in the web address can be the difference between a legitimate site and a fake one.

Be wary if someone asks you to make a payment that is difficult to trace, such as cryptocurrency, gold, gift cards or prepaid debit cards. It's almost always a scam.

6. Include someone you trust in major financial decisions.

Another red flag is when someone tells you that you have to take action quickly and can't tell anyone. Run the scenario by a close friend or relative. Fraudsters use emotional manipulation to get what they want.

You can also create a keyword with family members. For example, use the word "balloon" to confirm you're speaking with a legitimate relative, so if you get a phone call from someone "in trouble," you know it's really them.

7. Implement strong safeguards.

Create strong passwords to your online accounts and change them regularly. Set up multi-factor authentication to make your accounts harder to access. Use transaction alerts and credit monitoring to help you keep tabs on any significant changes.

You can also freeze your credit or pay for identity monitoring. Consumers can use tools like Cloaked to help reduce the risk of identity theft by limiting exposure to personal information shared online.

"However, there is little public data concerning the usage and effectiveness of these tools, making their impact on fraud prevention difficult to quantify," says John Jay College's Binns.

8. How the Federal Trade Commission (FTC) helps.

The FTC does its best to protect consumers against scammers. They operate reportfraud.ftc.gov, where consumers can report scams directly to the agency and compile reports from the website to share with law enforcement, including the FBI.

The FTC can sue scammers to recover funds. They can also shut down fraudulent websites and enforce laws against impersonation scams.

9. Safeguards financial institutions have in place.

Banks use tools such as identity verification, transaction monitoring and account protection to protect consumers. They also use algorithms and are increasingly incorporating AI to flag unusual spending patterns and fake identities.

Under the FTC's Safeguards Rule, covered financial institutions are required to implement an information security program with safeguards to protect customer information.

10. What to do if you fall for a scam.

If you made a payment through a credit or debit card, you can report the fraudulent charge to your card issuer and request a chargeback or a cancellation.

A bank transfer can sometimes be processed quickly, so if you initiated a transfer, contact your bank to request a stop payment. If you made a payment through apps like Zelle, Venmo or Cash App, report the transaction to those companies.

Always report scams to the Federal Trade Commission, which is a starting point for many investigations, says Brown. If you've provided personal information to a scammer, file a report at identitytheft.gov. Notifying financial institutions and the FTC helps everyone. "We need more reporting because it can help us advocate for more consumer protections," says White.

Note: This item first appeared in Kiplinger Retirement Report, our popular monthly periodical that covers key concerns of affluent older Americans who are retired or preparing for retirement. Subscribe for retirement advice that's right on the money.

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One of the ways credit card companies, airlines and other businesses build loyalty and keep us coming back is through rewards points that can be applied to future purchases.

The terms and conditions for these loyalty points tend to be multiple pages, highly confusing and often disguise nasty surprises in language that even lawyers have difficulty making sense of. Several have been criticized as being unfair and little more than a bait-and-switch.

But what one company did to the widow of a loyal customer highlights a lack of care, compassion and common sense that others can learn from. We're not naming the company, as the situation could very well have been an outlier, but it's a useful lesson for management in what not to do.

An escape from the world of chronic kidney disease

Reader "Anna" described the love "Dallas" had for this particular company's products, starting when he was a child. "He loved (them) even more after we got married. Born with failing kidneys, he found it a helpful activity when he was undergoing dialysis treatments."

Anna said he spent his many loyalty points on products that made him so happy, and toward the final stages of his illness, they worked together on a project that would be the last one they finished together, right before he died.

"Today, I look at it with so much love. We knew each other since college and were married only three years. It was an honor being his wife."

What happened to his loyalty points?

Anna knew his loyalty points account number and tried to use the points that remained to buy a gift for her father-in-law, but the company refused the transaction, saying, "Points expire after 18 months, and we sent (the account owner) notice of the impending loss."

They did, indeed, send that notice to his email, after he died. "Due to his illness, I handled all of our financial affairs and never went into his email account," she explained.

She sent a polite email to customer service, explaining that her husband had died and that, given he was a lifelong loyalty club member, would the company please reconsider and allow her to use his remaining points. On its website, the company acknowledges that it will waive the expiration period with good cause.

Anyone with compassion would consider Anna's situation "good cause."

A cold and heartless response

Company representative "Pamela" emailed Anna: "Very sorry to hear of the loss of your husband, but we cannot take any actions on the account except on behalf of the account owner."

A friend of Anna referred her to me, and when I read that, I wondered what insensitive, heartless idiot would tell a widow that the company could deal only with her deceased husband? These are the types of blatant unfairness that motivate me.

I regularly reach out to the media contact personnel at large companies and ask them to please look into an issue. Now, suppose that you were the person I contacted about Anna's situation. Wouldn't you fact-check first, and then, knowing that expired points can be restored, wouldn't you do that for Anna? Of course you would.

But not this company's media rep. "Wendall" referred the matter to "Charles," in his department, who called me. We both looked at Dallas' obituary online, but instead of saying, "Sure, we need to make this right," Charles did the bureaucratic thing and sent the matter back to customer service.

Days went by, proving that Pamela, Wendall and Charles had to have been standing behind the door the day common sense was handed out.

Finally, Anna received an email — not a phone call, because clearly, these three people have a problem with kind human interaction — from "Bill" in customer service stating that she would receive a gift card for the value of her husband's points. A week later, it arrived. So at least they did that part right.

A business professor looks at the situation

I ran this by Lyle Sussman, professor emeritus in the College of Business at the University of Louisville and a friend of this column for many years. "Beav, this reminded me of my favorite example of customer service from hell. A few years ago, a bank manager required a thumbprint from a customer without arms."

"Requiring authorization from a dead person is like requesting a thumbprint from someone who has no hands. It's also the kind of Kafkaesque SOP (standard operating procedure) that sets the stage for social media backlash and a column by Dennis Beaver.

"This issue is a classic example of rigid SOP constraining common sense in customer service. The fact that a customer service manager finally did the right thing is a testament to someone in the chain of command saying something like, 'Enough's enough. Let's stop being stupid!'"

With some loyalty programs, there are ways to prolong the life of your reward points. I'll explain how to do this in a future story and show why companies just can't wait for customers to forfeit their rewards.

Dennis Beaver practices law in Bakersfield, Calif., and welcomes comments and questions from readers, which may be faxed to (661) 323-7993, or e-mailed to Lagombeaver1@gmail.com. And be sure to visit dennisbeaver.com.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Summer has a way of making spending feel effortless. A weekend getaway turns into an extra hotel night. Family outings become a regular occurrence. The kids are home from school, grocery bills creep higher, and those "limited-time" summer sales make it easy to justify purchases you hadn't planned on.

Then August arrives, and reality sets in. You open your banking app to find a credit card balance that's higher than expected, your emergency fund isn't what it used to be and your next paycheck already has a job before it even hits your account.

If that sounds familiar, you may be dealing with what's often called a financial hangover. It’s the lingering effects of spending more than you intended during a season that's naturally packed with extra expenses.

The good news is that a financial hangover doesn't have to become a long-term financial setback. By making a few strategic adjustments now, you can recover before fall routines settle in and the holiday shopping season puts even more pressure on your budget.

Signs you have a summer financial hangover

Not every financial hangover looks the same. Sometimes it's obvious, like carrying more credit card debt than usual. Other times, it's the stress of feeling like you're constantly playing catch-up.

Here are a few signs your summer spending may have gotten ahead of you:

Your credit card balance is higher than normal

If you relied on credit cards for vacation expenses, restaurant meals or impulse purchases during summer sales, your balance may be noticeably higher than it was a few months ago.

That's not necessarily a problem if you can pay it off quickly. But if the balance is large enough that you'll be carrying it for several months, interest charges can make those summer memories much more expensive.

Your emergency fund took a hit

Many families dip into emergency savings for travel, home repairs or unexpected summer expenses with every intention of replacing the money later. If your savings account is lower than you're comfortable with, it's worth making rebuilding it a priority before the next unexpected expense comes along.

You're relying on your next paycheck to catch up

When every paycheck is already spoken for before payday arrives, it's often a sign that recent spending has outpaced your current income.

If you're using each paycheck to cover purchases from previous weeks instead of current expenses, that's a signal it's time to reset your budget.

You feel anxious checking your bank account

Financial stress isn't always about the numbers. If you've started avoiding your banking app, delaying bill payments or feeling anxious every time you check your balance, your finances may need attention.

Ignoring the problem rarely makes it better. Taking inventory, even if the numbers aren't what you hoped, is the first step toward getting back in control.

Figure out where the money actually went

Before cutting expenses, understand exactly what happened.

Go through your bank and credit card statements from the past two or three months and group your spending into broad categories such as:

• Vacations and travel
• Dining out
• Entertainment
• Kids' activities
• Shopping
• Home improvement
• Everyday household expenses

You may discover that no single purchase caused the problem. Instead, dozens of smaller expenses like ice cream stops, concert tickets, extra gas, beach gear and restaurant meals, added up over time.

This exercise also helps you distinguish between one-time seasonal spending and habits that may continue into fall if left unchecked.

Don't try to fix it overnight

After seeing higher balances or lower savings, it's tempting to make drastic moves to erase the damage as quickly as possible.

In many cases, that's exactly what you shouldn't do.

Avoid cashing out retirement accounts or borrowing from long-term investments just to eliminate short-term debt. The taxes, penalties and lost investment growth can cost far more than carrying a manageable balance for a few extra months.

Also, don't assume a balance transfer is automatically the right solution. Promotional offers can be helpful if they significantly reduce interest costs and you have a realistic plan to pay off the balance before the introductory period expires. But balance transfers often come with fees, and moving debt without changing spending habits simply delays the problem.

Instead, build a repayment timeline you can realistically stick with. Even paying an extra $100 to $300 per month toward credit card balances can make meaningful progress without putting the rest of your finances at risk.

Cut back temporarily, not forever

One reason many budgets fail is because they rely on permanent deprivation. A better approach is recognizing that many of summer's biggest expenses naturally disappear as routines return.

Rather than eliminating everything you enjoy, temporarily reduce spending in areas that tend to slow down anyway, including:

• Dining out
• Entertainment
• Online shopping
• Weekend road trips and day trips

As school resumes, sports schedules return and vacations come to an end, you may find these expenses decline without requiring dramatic lifestyle changes.

Treat this as a seasonal reset rather than a permanent restriction. Redirect the money you would have spent on summer extras toward paying down debt or rebuilding savings for the next few months.

Rebuild your emergency fund before the holidays

If your emergency fund took a hit this summer, don't wait until January to replenish it. The months before the holiday season offer an ideal opportunity to rebuild your cash reserves before year-end expenses arrive.

Set a realistic savings target based on your current budget. Even automatic transfers of $25 to $100 per week can gradually restore your emergency fund without feeling overwhelming.

Having cash available before the holidays also makes it less likely you'll rely on credit cards for unexpected expenses later in the year. A high-yield savings account can be a smart place to rebuild your emergency fund, helping your cash earn more while staying within easy reach.

Use the tool below, powered by Bankrate, to compare today's top savings account offers:

Put your fall budget on autopilot

As routines settle down, now is the perfect time to update your budget based on what summer actually costs and not what you hoped it would cost.

Consider making a few simple adjustments:

• Restart automatic transfers to savings if you paused them.
• Review recurring subscriptions and cancel services you're no longer using.
• Increase budget categories that consistently ran over during summer while trimming categories you rarely used.
• Begin setting aside money now for holiday shopping, travel and year-end expenses.

Planning ahead can help prevent another cycle of overspending just a few months from now.

A summer financial hangover can feel discouraging, but it doesn't mean you've failed financially. Summer often brings higher spending on travel, family activities and seasonal fun, and many households end the season with a budget that needs a tune-up.

The important part isn't trying to erase every extra dollar overnight. It's recognizing where your money went, making thoughtful adjustments and using the return of fall routines as an opportunity to reset.

By paying down debt, rebuilding your emergency savings and planning ahead for the holidays now, you can finish the year on much stronger financial footing.

Turn today's financial decisions into tomorrow's retirement plan.

Use the tool below, powered by Bankrate, to connect with a financial professional who can help you build a personalized roadmap toward your financial goals:

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For some people, the appeal of retiring abroad lies in the ability to live well for less than it would cost in the U.S. Others seek more affordable healthcare or a less divisive political climate. Still others, such as Karen Fifer Ferry, 68, and her husband, John, 74, are lured by love — not for each other (though the couple has that in abundance), but rather for the place they now call home.

For the Ferrys, that means Green Turtle Cay, a tiny island in the Bahamas boasting pristine beaches, crystal blue waters, picturesque clapboard houses and lush coral gardens.

The couple started vacationing there when their three children, now in their mid-thirties, were small. They kept going back, increasingly enamored of the island’s physical beauty and its warm, welcoming community of around 500 people — a place where, Cheers-style, everybody knows your name.

The couple bought a cottage there in 2012, gave up their U.S. home in Providence in 2014 and worked largely remotely. They decided to retire in the Bahamas permanently after Karen left her job as a consultant to healthcare companies in 2018 and John, a pediatrician and executive recruiter for the healthcare industry, followed suit a year later.

Since they already owned property in the country, the path to becoming permanent residents was straightforward, requiring only additional references to attest to their character, documentation of sufficient financial assets to show they wouldn’t become a burden to the government, and an application fee.

Since then, the Ferrys’ overseas retirement has had plenty of ups and a few downs. In 2019, Hurricane Dorian, a Category 5 storm, destroyed the couple’s island home; during the two years it took to rebuild, the Ferrys lived in a 17-foot trailer on their property.

Now they have a 1,400-square-foot cottage more than double the size of their old one on the narrow tip of the island, surrounded by water on three sides. Friends and family are constant visitors, and their days are full with dips in the ocean, long walks on the beach, volunteer work and plenty of porch time admiring the view. Their biggest expense is regular travel back to the States to visit their kids and four grandchildren.

It is an idyllic life, the couple say. "We were never really choosing to leave the United States," Karen says. "We just fell in love with this place."

A growing trend of retiring abroad

Like the Ferrys, more and more retirees are pursuing their version of a dream retirement in places that aren’t in the U.S. Although there are no hard data on their numbers, the trend is clear in the growing ranks of retired workers receiving Social Security benefits overseas: up 22% over the past 10 years.

Meanwhile, according to a 2025 Harris poll, more than one-third of Gen Xers and one-fourth of baby boomers have considered moving out of the U.S. Their top motivation was a lower cost of living abroad, followed by political dissatisfaction and a desire for a higher quality of life.

"It’s not that people who are considering retiring abroad don’t have the money to retire well in the United States, but more that they like the idea of being able to live better, to have an adventure and see their nest egg go further," says Jennifer Stevens, executive editor of International Living, which guides people to the best places to live and retire overseas.

Also fueling the trend: Many countries have made the route to retiring abroad easier in recent years, shifting from processes that required a large initial investment from foreigners looking to establish residency to pathways in which you can demonstrate that you have a certain minimum amount of guaranteed passive income — a stipulation often satisfied, depending on the country, by Social Security benefits alone.

Still, deciding whether to actually forge ahead and, if so, picking the right place and establishing a happy life there can be daunting.

Moving far from family and friends may feel lonely, especially if it’s to a place where you don’t speak the language. You may be hit with unanticipated costs or other snafus, and taxes and estate planning can be complicated.

For those who can make it work, though, retiring abroad really can be a dream come true, offering cultural adventure and a higher standard of living at a lower cost. Intrigued? Here’s what you need to know and, if you go, how to make the move a success.

Start with a wish list

Before Cynthia and Edd Staton made the leap to retire in a foreign country, they wrote down everything they hoped their ideal location would offer.

The year was 2010, and the couple was a casualty of the Great Recession. Both had been high earners living and working in Las Vegas — Edd in automotive services, Cynthia in luxury real estate. —and when those industries went bust, they lost their jobs and couldn’t find other work that paid enough to cover their bills. They were burning through savings and needed a big lifestyle change.

Retiring abroad felt like a viable Plan B. "We wanted to feel like we were moving toward something instead of moving away from something," says Cynthia, 73. "For the first time in our lives, we sat down and really talked about what we wanted going forward."

The place they chose, the midsize city of Cuenca in Ecuador, checked all the boxes on their wish list. The cost of living was low, and the climate was mild.

It was close enough to the eastern coast of the U.S. that they could easily travel back to see their adult children, and it was in the same time zone, which made calling and video chatting easy. The healthcare system was decent, and the amenities were modern.

Sixteen years later, the Statons are still in Cuenca, living in a penthouse apartment with a large terrace overlooking a river. They eat out when they want, enjoy gym and yoga memberships and other creature comforts, and are planning a monthlong vacation in Italy this fall. And it’s all affordable on their monthly Social Security benefits alone.

"Most months, we have enough money left to put up to 20% in savings," says Edd, 77, who along with Cynthia now offers advice to other people interested in retiring abroad via a blog, articles, books and courses on their website.

Figuring out where in the world you might like to retire starts with the kind of self-reflection the Statons engaged in, experts say. "Ask yourself, if money were no object and you could define the retirement you want, what would your days look like, what are your non-negotiables, and what would you love to have but may not be essential?" Stevens says.

Besides obvious considerations such as your budget and healthcare needs, think about whether you’d feel most comfortable someplace with a large expat community, whether you’re open to learning another language, and what you want your surroundings to be like.

Maybe you prefer an area rich with history or to live near, say, museums and concert venues, great markets if you love to cook, or plenty of golf courses if you like to play.

Then, armed with answers, consult some lists of best places to retire overseas, such as those published by International Living, Global Citizen Solutions, Live and Invest Overseas and other organizations. You can use ChatGPT, Gemini or other artificial intelligence tools to search, too, plugging in your key factors to see what pops up.

The goal is to create a personalized shortlist of countries that meet your criteria and are worthy of further investigation. Says Stevens, "Dream big first, and then let the technicalities eliminate some of the places you might be thinking about."

Go for a trial run

Once you’ve narrowed the field, take a scouting trip — or, better yet, a few — to check out places that interest you. Try living like a local while you’re there. Rent an Airbnb instead of staying at a hotel. Shop at the grocery store and cook, rather than always eating at restaurants. Hang out with expats at the local pub to hear what they say about the place.

"People often make the mistake of thinking they want to retire somewhere they love to go on vacation," says Edd Staton. "The problem is that you go on vacation to get away from your life, not for it to become your life."

Be sure to visit in the off-season. "If you go to Spain or Italy in July, the weather is great, there are festivals and great food, and everyone’s having fun," says Alex Ingrim, CEO of Liberty Atlantic Advisors, which specializes in financial advice for Americans living abroad.

"Seeing what a place is like in January, when three-quarters of the restaurants are shut down, is the real test. You need to make sure it’s the right place for you year-round."

What you want to learn from this exercise: "You can get to a place and your heart just says no, even though logically, on paper, it should be the perfect place for you," says Stevens. "Or you visit a place that you thought you should eliminate, but you go just in case and think, Well, this is fabulous. This is the one."

Understand the rules of entry

Many foreign governments make it surprisingly easy and affordable for Americans to retire in their country, shifting in recent years from requiring large lump-sum investments to establish residency to simply asking for documentation that you have a certain minimum amount of guaranteed passive income from sources such as Social Security and pensions.

In many places, those minimums are quite modest, often easily covered by Social Security benefits alone. Global Citizen Solutions, an advisory firm for people planning to move overseas, found that 61% of the 44 countries it analyzed in Europe, the Americas, Africa and Asia require a minimum monthly income of 2,000 euros or less (around $2,325, at recent exchange rates), including Portugal, Panama and France.

Typically the visas are good for a year, then must be renewed annually. But nearly half offer longer residencies (Portugal’s visa is good for two years, as is Uruguay’s), and a few countries, including Panama, offer permanent residency from the outset.

Other requirements typically include proof that you have health insurance and a place to stay once you enter the country.

Once you start the process, it commonly takes three to four months for a visa to be approved, but you should give yourself six months of leeway, said Adalberto Pucca, head of global mobility solutions at Global Citizen Solutions.

"It’s important to know the rules about obtaining residency, but the ease of the visa process shouldn’t be a high-ranking factor in your decision about where to move," Pucca says. "Go where you’ll be happiest."

Expect to live larger for less

No matter where you end up in the world, your living costs will likely be lower than what you’d pay to lead a similar lifestyle in the U.S., experts say. That’s typically true, they say, even in highly developed countries and with today’s weak dollar against the euro and other currencies.

How much lower, however, will differ dramatically depending on which country you choose and what town, city or region you settle in.

Retiring to Central or Latin America, for instance, will be substantially less expensive than retiring in Europe; within Europe, Greece will be easier on your budget than France, and within France, living in the countryside will be much cheaper than retiring in Paris.

You can compare living costs in various cities and countries at the website Numbeo. International Living also publishes typical budgets for retirees in the 22 countries it ranks. Your costs, though, may be very different from the "typical" budgets seen on best-places lists, depending on your preferred lifestyle.

"Maybe you will rent a house instead of an apartment. Maybe you like to eat out more often or go to higher-end restaurants. Maybe you prefer to take Ubers rather than use public transportation," says Pucca.

"It’s important to personalize your cost-of-living estimates, based on your own research and the prices you pay when you visit."

Line up healthcare in advance

Nearly four out of 10 Americans considering a move abroad cite the availability of better, more affordable healthcare as a top reason, the Harris poll found. The good news, experts say, is that healthcare is indeed less expensive in most other places in the world, though by how much differs sharply from country to country, as well as within countries among different cities, towns and regions — just as in the U.S.

The same is true for the quality of care. You’ll generally have access to first-rate treatment in most countries in Europe, with France, Portugal and Spain topping the list for best healthcare based on a combination of quality, access and affordability in International Living’s rankings. Panama also wins high marks, as does Costa Rica.

Though most countries have some form of government-subsidized health care, it can take time — typically from three months to two years — for newcomers to qualify.

So you’ll need private coverage from a national or international insurer to bridge the gap. International carriers include Cigna Global, Blue Cross Blue Shield Global Solutions and International Medical Group.

Even after qualifying for the public health system, many expat retirees retain private coverage for access to higher-quality medical facilities and shorter wait times.

One strategy to keep costs down is to opt for catastrophic coverage only and pay out of pocket for routine care, since the costs are typically low in many countries, says Hunter Schultz, a healthcare consultant for Expatsi, a company that helps Americans relocate abroad, and author of Expat Health Guide.

He notes, for example, that in Panama, where he lives as a U.S. expat, people pay about $30 for a primary care visit, and he recently paid $110 for an ultrasound of his shoulder — before the 20% senior discount he gets on medical expenses.

Schultz likens it to how Americans use auto insurance. "You wouldn’t put in a claim with your insurer for an oil change or new spark plugs. It’s just the big expenses, and that’s the way people often use health insurance in other countries," he says.

One additional expense you shouldn’t forgo: retaining Medicare coverage.

While your benefits won’t cover care in the country you move to, you’ll need them to help pay for any treatment you receive when you’re back in the U.S. for visits or if you need to seek treatment from a specialist here.

You’ll also need Medicare if you eventually come back to the States to live, as many retired expats end up doing. While you can re-enroll in Medicare after a lapse in coverage, you’ll be hit with a stiff lifetime penalty for doing so: 10% of the standard Part B premium for every 12 months when you could have had Part B but didn’t.

Manage taxes with care

International wealth managers routinely use two words to describe the tax situation that Americans who retire abroad face: It’s complicated.

That’s true no matter where in the world you choose to retire. The reason: The U.S. is one of only two countries in the world (Eritrea, in Africa, is the other) that tax people based on citizenship, not residency. "Uncle Sam is your most loyal travel companion," says Peter Sengelmann, director of Creative Planning International, an international wealth management firm. "He will follow you wherever you go."

In practice, that means you have to file tax returns and report income and follow the tax rules in both the U.S. and your place of residence abroad, although you won’t necessarily owe taxes in both countries.

The U.S. has treaties with more than 60 countries to prevent the same income from being taxed twice — or to at least lessen the sting.

Critically, the rules about what income is taxed and at what rate differ from country to country, with some places more friendly to retirees than others. Most countries in Europe, for instance, tax all of your income no matter where you earned it.

Others, including several in Latin America and Southeast Asia, only tax income earned in that country. Some, such as Costa Rica, Panama and Uruguay, typically exempt foreign pensions and annuities entirely, while others, such as Greece and some places in Italy, tax them at a low flat rate. Some countries treat distributions from Roth accounts (which are funded with post-tax money but provide tax-free withdrawals in the U.S.) as taxable income.

Some have much higher tax rates than in the U.S., and the higher rates start at lower income levels. In Italy, for instance, the top rate is 43% and kicks in at 50,000 euros (around $58,000 at recent exchange rates).

"It makes your head spin," says Sengelmann. That’s why experts urge U.S. retirees living abroad to work with a pro who is well versed in international tax law or, at a minimum, how U.S. rules work in tandem with those of the country you want to live in.

The nonprofit American Citizens Abroad has directories of international tax preparation and financial services providers; you can also tap expat networks on Facebook or other social media platforms for recommendations.

A pro can help you take steps proactively to limit negative tax consequences. For instance, if you’re moving to a country with a high tax rate, you might want to take some distributions from tax-advantaged retirement accounts before you leave so you’ll pay taxes on that income at lower U.S. rates.

Or you might avoid doing a Roth conversion if you’re thinking about moving to a country that taxes withdrawals from those accounts.

"Don’t let the tax tail wag the dog," Sengelmann says. "Go where you think you’ll be happy, and an adviser can help you figure out the rest."

Get your expat finances in order

As with taxes, managing the rest of your financial life when you retire abroad takes a lot more thought and at least a little bit more maneuvering than if you were dealing with the rules of one country only.

For instance, you’ll probably want to maintain bank accounts in the U.S. and in your country of residence to make it easier to pay for things in both places and maintain access to spending money that isn’t subject to currency fluctuations and conversion fees.

That’s especially true if you’ll be traveling back and forth to visit or access healthcare in the U.S. or if there’s a chance you might move back one day. (Hint: there’s always a chance.)

That means you’ll need to maintain a U.S. address, which you must also have to keep Medicare coverage. You can use a family member’s address or set up a virtual mailbox, which provides a physical address to receive mail.

Then the service scans the contents digitally and sends them to you or forwards packages. Providers include iPostal1 (plans start at $9.99 a month) and Virtual Post Mail ($20 a month).

If you’re collecting Social Security, you can continue to receive benefits through direct deposit at your U.S. bank or have benefits sent to your bank overseas. Either way, you’ll need to inform Social Security of your move, as well as fill out a questionnaire the agency will send to you every two years to confirm your address and status. The same U.S. tax rules apply.

The thorniest issue: estate planning. Some countries levy an inheritance tax, for instance, and exemptions are often much lower than the federal estate tax exemption in the U.S. Then, too, many countries, including most in Europe and some in Latin America and the Caribbean, follow so-called forced heirship rules governing the disposition of assets.

"You don’t necessarily get to choose who inherits what; it’s dictated by law and cannot be overwritten by a will," says Ingrim at Liberty Atlantic. "There are strategies you can use to bypass forced heirship laws, but it takes advance planning."

Even jointly held assets may be vulnerable to different rules of succession, and often the assets won’t automatically pass to a surviving spouse but rather will be tied up for a while — years, in some cases — as an estate goes through probate.

For that reason, Ingrim recommends that couples living abroad split some assets to hold in individual accounts so each spouse is assured access to funds as needed.

Find — and keep — your people

A study published last year in the journal Psychology and Aging found that people who retire abroad risk feeling lonelier than older retirees who stay in their native country.

Based on a survey of about 5,000 Dutch people aged 66 to 90 living in 40 countries, the researchers found that the expats reported higher levels of social isolation and, among those who lost touch with family and friends back home, greater emotional loneliness as well.

After 16 years living in Ecuador and seeing many expat retirees come and go, it’s a phenomenon the Statons are familiar with. "It can be hard to feel like you’re an outsider and always will be," says Edd. "Some people get tired of feeling they don’t fit in."

One workaround for the social isolation that many expat retirees experience: Move with or near people you know, so you have a small established community from the outset. And, experts recommend, aim to live like a local, not a tourist, interacting with residents and immersing yourself in the language, customs and culture of your new home.

That’s the approach that Marion Sharp and Noel Blyler took when they moved to Loches, in France’s Loire Valley, last year.

Sharp, 67, who had worked in nonprofit fund-raising, and Blyler, 66, a former high school college counselor, had visited close friends who had a second home in the area several times over the years. Sharp and Blyler loved it and had talked about maybe buying a second home themselves or even retiring there one day.

When the friends invited the couple to share their house and all retire there together, Sharp and Blyler took the leap.

"This is a dream more than 50 years in the making," says Sharp, who has loved France since she first traveled there when she was 16.

Obtaining a visa was easy, Blyler says, requiring only that they show they had a place to live, health insurance and a minimum level of guaranteed income, which was covered by their Social Security benefits.

Harder but fun, they say, has been learning to speak conversational French. They recently purchased a place of their own near their friends, and they are deeply engaged with the history, architecture, art and beauty of their adopted home.

"I think of it as un coin de paradis, a corner of paradise," Blyler says. Sharp, who says that friends from the U.S. are frequent visitors, adds, "There’s a different attitude toward enjoying life here. Experiencing another culture is part of the adventure."

Be ready for hassles and hiccups

Adjusting to that different culture is frequently cited by experts and expats alike as the most challenging part of retiring overseas. Learning a new language and adapting to a different pace and norms can be tough, but it’s often smaller irritants that stick out to people who have made the move.

Hunter Schultz recalls his chagrin when he first moved to Panama and couldn’t find his beloved Pepperidge Farm cookies on grocery shelves.

Karen Fifer Ferry says she often brings back cooking ingredients from her visits to the U.S. because they can’t be found in Bahamian stores, and she admits the laid-back pace can be frustrating — it took twice as long to rebuild their home after Hurricane Dorian as the initial estimate.

Ingrim says American clients are often surprised to find that many European homes don’t have dishwashers and that the furniture they shipped from their 2,500-square-foot house in the U.S. doesn’t fit in the 1,000-square-foot apartment they live in now.

Stevens of International Living recommends tapping into the expat community in your new home via social media and in-person gatherings to help solve common problems. "They can make your landing so much softer," she says. "They’ve already figured out a plumber that’s good, which vet speaks English and how you pay your utility bill."

Perhaps the most helpful thing you can do, says Stevens, is adjust your own attitude.

"When you retire abroad, there are inevitably going to be difficulties. The bureaucracy will be hard to navigate, and there will be confusion, especially if you don’t speak the language," she says. "To enjoy this new life, it really does help to think of it as a grand adventure, that it will be fun to try new foods, have new experiences and learn a new culture."

It has also helped, Ferry says, to remember that the decision to retire abroad is reversible. Circumstances change and so do people.

The Statons agree. "When people ask us if we’ll live in Ecuador forever, we say we have no idea how long forever is," says Cynthia. "What’s important is not to let worry over ‘forever’ stop you from making a move that could be perfect for you right now."

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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There’s no denying that artificial intelligence has stormed into our lives like a tsunami. Now that wave is heading straight for our finances.

In fact, it’s already here. Nearly half of consumers say they have already used AI tools such as OpenAI’s ChatGPT, Google’s Gemini and Anthropic’s Claude to help manage their personal finances or they are considering doing so, according to a recent Experian survey.

And while younger people are more likely to embrace the technology, older generations lately have been hopping on the bandwagon too, with 41% of Gen Xers and 28% of baby boomers saying they are open to using AI for money-related tasks.

People turn to AI for help on a wide range of financial topics, with savings strategies, credit scores or credit cards, and investing or stock market advice topping the list, according to a survey last year by J.D. Power.

People who ask AI for guidance seem happy with the results. In the Experian study, 96% of those who tapped AI to help them with a money question report that it was a positive experience.

If you’re working with a financial planner, you may think you don’t need to be chatting with the likes of Gemini and Claude. In fact, however, you may already be getting an assist from AI when it comes to your money. Some 57% of financial advisers use AI tools in their work, and another 29% are exploring the idea, a Charles Schwab poll found.

Given how ubiquitous AI is becoming in the world of financial advice, you’ve probably got questions about it — and rightly so.

Can AI really help you make smarter decisions with your money? Can you trust the advice it gives? What financial challenges are the chatbots good at, and where do they fall flat? And how do the recommendations they provide stack up against the guidance of real, live human advisers?

To find out, we decided to put the chatbots to the test — literally. We created a series of scenarios encapsulating common financial challenges people experience at various stages of their lives. The characters are fictitious, but the issues they need help with are real. Then we presented the scenarios to both AI chatbots and certified financial planners to get suggestions from each, and we ran their answers by other experts.

The scenarios, recommendations and findings follow. What we learned from the exercise: The advice dispensed by AI is often — maybe even typically — sound, at least from a theoretical basis, and can be genuinely helpful.

But the bots often miss the human context and emotions that are an integral part of the financial planning process.

"Consumers should view AI as a powerful tool, but not as a source of advice that is inherently reliable," says K. Dane Snowden, CEO of the CFP Board (the Certified Financial Planner Board of Standards), which sets requirements for planner certification. When it comes to your money, the stakes are too high to rely on a bot alone. Says Snowden, "There should always be a human accountable."

Here’s a closer look at the AI financial challenge and what it reveals about the power of using technology and human guidance together to help you reach your goals.

Challenge No. 1: Create a Budget

The scenario: I am 35, single, and rent an apartment that costs 30% of my salary. I earn $65,000 a year and contribute 4% of my income to a traditional 401(k). I owe $1,200 on a credit card and pay $300 a month on a student loan with five more years until it’s paid off. Help me construct a monthly budget.

The chatbots' advice: None of the chatbots were particularly empathetic about this challenging situation. Instead, they rolled out bullet points and charts to address what they saw as a math equation to be solved.

ChatGPT makes debt the top priority: "Kill the credit card balance fast." It suggests leaving the student-debt repayment plan as is, as well as boosting the 401(k) contribution to at least 8% of the subject’s salary now, eventually getting to a range of 10% to 15%. How?

Take an axe to non-essential spending, such as entertainment, dining out, subscriptions and shopping, the bot urges, and get those outlays down to 20% to 25% of the monthly budget.

Claude agrees that whittling down credit card balances — and avoiding additional debt — is key. It suggests a two-track strategy, using the "avalanche" method of debt repayment, which focuses on paying off the highest-rate debt first, while simultaneously building up enough savings to cover three months’ worth of expenses so that the subject won’t turn to credit cards in an emergency.

Claude also suggests looking into tax-free accounts, versus tax-deferred plans, for retirement savings. "Open a Roth IRA if you haven’t already," it said. "At $65k income you’re well within the eligibility limit."

The human advice: Use the 50-30-20 rule as a "starting point," says certified financial planner Valerie Rivera, founder and CEO of FirstGen Wealth in Chicago. That rule of thumb suggests budgeting 50% of your income for basic needs such as housing, food and utilities; 30% for "wants" such as entertainment and eating out; and 20% for saving and debt repayment.

Given the constraints of the subject’s salary on how much money there is to work with, Rivera suggests contributing just enough to the 401(k) to get the full employer match (typically 6%). She also suggests looking into income-based student-loan repayment plans that might reduce those monthly payments.

The credit card debt is a "signal worth paying attention to," says Rivera, indicating the lack of an adequate emergency fund and expenses that are outpacing income.

She suggests that one way out of this box would be to focus on income growth by looking for a job with a better salary, getting a certification that could lead to higher pay or having a conversation with a manager about a long-overdue raise.

"At 35 and making $65,000, the math is just hard, and it only gets harder as life gets more expensive," she says. "You can only cut spending so far before life becomes unsustainable."

What the results reveal: Theoretically, the chatbots’ advice is solid. It makes sense to try to crank up retirement contributions and favor Roth accounts when you’re young, build an emergency savings fund, and prioritize paying off credit card debt.

But given this financial profile, tackling all those goals at once will be tough. And suggesting someone contribute to an IRA when they likely aren’t contributing enough money to a workplace 401(k) to qualify for the full employer match is puzzling.

"The level of meeting people where they are is definitely lacking," says Jeff Judge, a CFP in Forest Hill, Md., who reviewed the AI responses. The messy reality is that you can’t do everything at once when you’re on a limited budget — something the human adviser seems to understand much better than the machines.

Challenge No. 2: Craft an Investment Strategy

The scenario: I am 45, married, with a combined household income of $125,000 a year and $250,000 saved in a traditional 401(k). What’s the best investment mix for me, now and over time?

The chatbots’ advice: Google’s Gemini begins with a tsk-tsk moment, pointing out that a 45-year-old should have saved three to four times their annual salary by now, not two times, as the subject has. It lays out two ways to approach asset allocation.

The first is via a target-date fund, which assembles an age-appropriate mix of assets that gradually becomes more conservative as you near retirement "without you having to lift a finger." For a 45-year-old, a typical target-date fund might have 85% to 90% of the portfolio in stocks, with 10% to 15% in bonds.

Alternatively, Gemini says, you can put together a similar investment mix on your own using lower-cost index funds. If you design the investment mix yourself, it says, it’s critical to rebalance the portfolio regularly: "If stocks have a great year and your 75% grows to 85%, sell the extra 10% and buy bonds to get back to your target."

Claude agrees with the allocation and suggests specific target-date funds to consider, including Vanguard Target Retirement 2045 (symbol VTIVX) and Fidelity Freedom 2045 (FFFGX).

It also gets granular on allocations for a do-it-yourself mix: 35% U.S. large-capitalization equities; 10% U.S. small- and mid-cap equities; 20% international developed equities; 5% emerging-markets equities; 15% U.S. aggregate bonds; 5% Treasury inflation-protected securities (TIPS); 5% real estate investment trusts; and 5% cash or money market funds.

The human advice: This couple have made some strides in investing for retirement but should "push harder" to make sure they have sufficient growth in their portfolio, says CFP Juan HernandezAriano, a principal with WealthCreate in Houston.

He recommends an allocation of roughly 80% in equities and 20% in bonds, which they could achieve by investing in a target-date fund with an expected retirement around 2045. This is appropriate, he says, "if the client is more hands-off and enjoys automated processes."

If this individual is more of a DIY-er, the planner suggests allocating 55% of the portfolio to U.S. stocks, 25% to international stocks and 20% to bonds, then decreasing the allocation to stocks by about 10 percentage points over the next decade, shifting to fixed-income funds.

Most importantly, HernandezAriano says, it is "not so much about finding the perfect mix, but about what the client can stick with during both good and bad markets."

What the results reveal: The chatbots seem to enjoy getting into the weeds of portfolio construction, without taking into account practical details of how investing works in real life. Gemini, for instance, favors creating a customized mix over the easier-to-execute target-date solution.

While the recommended investment allocation is age appropriate, the bots didn’t consider the level of risk the person might feel comfortable with. And assembling the funds on your own, and staying on top of continual rebalancing, would multiply the human workload — something else the chatbot failed to consider.

Similarly, Claude recommends well-regarded funds but doesn’t consider whether they are actually available as investment options in the person’s 401(k) plan.

In addition, Claude’s finely chopped and complicated investment mix might make sense in theory, but managing it sounds almost like a full-time job.

In comparison, HernandezAriano points out that successful investing is very much about what the client is temperamentally able to handle without panicking and making bad decisions if, say, stock prices suddenly head south.

Use the tool below, powered by Bankrate, to connect with a financial professional who can help you build a roadmap to reach your financial goals:

Challenge No. 3: Stay on Track for Retirement

The scenario: I am 55, with $400,000 in retirement savings, and I hope to stop working at 65. My spouse and I make $140,000 a year and contribute 12% of our income annually to retirement accounts, including the employer match.

But we might need to cut back because we also are paying $40,000 a year in college tuition for each of our two children, ages 18 and 20. What steps should I take to ensure I can retire when I want?

The chatbots’ advice: Gemini is a little pessimistic about the goal, calling the situation a "tight spot" that "requires some precise maneuvering." Assuming 7% annual gains over 10 years, it estimates the couple’s portfolio will be worth $980,000 by the desired retirement age — short of the $1.375 million it projects the couple will need to live comfortably in retirement without the risk of running out of money.

The chatbot recommends keeping 401(k) contribution rates as they are and urges the subject to keep working for a year or two past 65 to allow the portfolio more time to grow and to help delay claiming Social Security so lifetime benefits will be bigger.

Claude calls the plan "roughly on track, but with meaningful vulnerability," worrying that a market crash right before retirement could negatively impact the portfolio for years to come.

To minimize that risk, it suggests trimming the portfolio’s stock allocation to 55% to 60% in the years before retirement and keeping enough money in cash and bonds to cover two years’ worth of withdrawals so the couple never have to sell stocks during a downturn.

"The college years are the danger zone," says Claude. "Navigate those without gutting your contributions, accelerate hard from 59–65, and you arrive at retirement in solid shape."

The human advice: HernandezAriano strikes a more optimistic tone: "We project the client is on track for retirement at age 65," based on an assumption of annual portfolio returns of a little over 6% a year. His advice is for the couple to stick with their current plan but be ready to make adjustments if market conditions or their personal situation changes.

The big lever they have to work with is the kids’ college expenses. So if the couple are hit with a job loss or an extended bear market, Hernandez-Ariano says they should be ready to cut back on how much they’re paying for tuition.

"I would be very careful not to sacrifice retirement for college expenses," he says. "Children can borrow for school, but parents can’t borrow for retirement."

Once the kids have received their sheepskins, the planner suggests the couple pump up the amount they’re putting into savings over their remaining working years, taking advantage of higher catch-up contribution limits for people 50 and older.

That will help ensure a strong finish just before their planned retirement date.

What the results reveal: The chatbots, Gemini in particular, tend to reduce complex financial situations into math equations. If the numbers don’t add up, they suggest changing the goal, rather than presenting options and trade-offs to help reach it.

For instance, if the couple in this case are determined to stop working at 65, one way to get there would be to trim spending in retirement.

The chatbot assumes they will need 80% of their current income to live comfortably after they stop working, but they might be able to get by on, say, 75%, or take a part-time job to generate enough income to make up the difference, as many retirees do.

The human planner’s approach is more nimble and empathetic, and it suggests being ready to change course if circumstances change. "Real life doesn’t happen in straight lines," HernandezAriano says.

Challenge No. 4: Draft a Golden Years Playbook

The scenario: I am 65, with a $1 million portfolio, and want to retire within the next year. My spouse is the same age, wants to retire at the same time and will be entitled to Social Security benefits based on my earnings record. We don’t have pensions. Generate an income plan for my retirement years, including a timeline for claiming Social Security.

The chatbots' advice: ChatGPT says the couple are in a "solid position" heading into retirement. It suggests a "guardrails" approach to withdrawals from retirement savings: Take out 4% in the first year and plan to increase that amount annually by the inflation rate.

But in years when your portfolio is experiencing strong growth, you can boost withdrawals by another 5% to 10%. Conversely, if the market is tanking, trim those withdrawals by around 10% on a temporary basis. Or, if you prefer a monthly check, the bot suggests you consider using 20% to 30% of the funds in the retirement account to purchase an annuity.

Gemini focuses on a strategy for claiming Social Security. It suggests that the lower earner should take benefits as soon as the couple retire with the higher earner delaying until age 70, locking in an 8% raise every year after full retirement age.

That way, the bot says, "When one spouse passes, the survivor keeps the larger of the two checks — you are essentially buying the best ‘life insurance’ possible for your spouse."

That will require the couple to withdraw more from savings in the first few years of retirement to bridge them until the higher earner starts taking Social Security. Gemini suggests withdrawing 6% to 7% a year until that point, then dropping to 2% to 3%.

The human advice: Many people go into retirement having mapped out fixed annual withdrawal strategies, often using the popular 4% rule. "Not a fan," says HernandezAriano.

"Inflation, emergencies, more travel in the earlier years, market fluctuations, healthcare changes: Especially for someone who’s just getting to test-drive retirement, it’s important to maintain as much flexibility as possible with your finances."

Instead, he recommends dividing savings into four buckets, meant to provide funds for the different periods of your retirement. Keep the first bucket, covering years one and two, primarily in money market funds, with 20% in short-term high-quality bonds.

Subsequent buckets, covering years three to five, six to 10, and the years remaining would gradually reduce the amount in cash and shift more into stocks and bonds for continued growth.

HernandezAriano suggests a modest withdrawal rate of 3% to 3.5%, generating $35,000 to $40,000 a year in income on top of Social Security.

What the results reveal: There is a lot of alignment between man and machine in this scenario on elements such as adjusting withdrawal rates as market conditions dictate and the importance of delaying Social Security for at least one spouse to boost benefits over the long term.

The planner’s bucket strategy is the only real point of divergence.

While not necessary to make the numbers work, it’s an appealing approach in terms of human psychology, giving the couple peace of mind that they will always have enough money safely invested to get them through each stage of retirement.

Challenge No. 5: Leave a Legacy

The scenario: I am 75 and retired, with a $1.5 million portfolio, and my spouse and I want to leave a legacy for our two adult children. We own our own home outright, valued at $750,000, but are considering selling and downsizing.

How should I structure my estate to protect assets, minimize taxes and best pass money on to the next generation?

The chatbots’ advice: "You’re asking the right questions at the right time," ChatGPT flatters the subject. The bot says not to worry about taxes, given that the federal estate tax exemption is $30 million for married couples.

It mistakenly points out, however, that the high limit is scheduled to decrease when, in fact, the current limit is designed to be permanent under the One Big Beautiful Bill Act passed last year.

The chatbot thinks selling the house and downsizing is a good idea, to simplify the estate and free up cash. And it urges the couple to set aside some money to cover long-term care, if needed, before they start earmarking assets for future heirs.

Claude points out that where the couple live is a key consideration, because many states have a lower exemption threshold for estate taxes — in a few areas as low as $1 million.

It also stresses that selling appreciated assets, such as a great stock pick or a home that has appreciated more than $500,000, could lead to a big tax bill, so it might be better to hold them until death. As for gifting, Claude agrees that you should "never gift assets you might need for long-term care."

The human advice: When it comes to leaving a legacy, "the question isn’t only how much to leave behind, it’s when," says Rivera. She, too, says not to worry about federal estate taxes and to focus instead on the types of accounts you’re leaving to heirs to minimize taxes.

She points out that brokerage accounts receive a step-up in cost basis at death, and Roths pass along tax-free, whereas money inherited in a 401(k) or traditional IRA has to be withdrawn within 10 years (for nonspouse heirs) and is taxed at ordinary income tax rates.

Giving while living, she says, can make sense both financially and emotionally; you get to see your heirs use the money when they need it most.

The current annual gift limit is $38,000 per recipient per couple, but you don’t have to pay taxes if you give more; the amount just gets deducted from the lifetime exemption at death.

What the results reveal: Each adviser, both tech and human, homes in on a different aspect of this complex challenge — ChatGPT on long-term care; Claude on state estate taxes; Rivera on the tax consequences of different retirement accounts and giving with a so-called warm hand.

And that’s really the big takeaway of the exercise: Different sources provide different information, all of which can provide valuable insights and which should be considered together to devise the best strategy.

The bottom line:

Taking the advice in all five scenarios into account, what we found is that the chatbots’ counsel, by and large, is solid, following common financial planning guidelines.

The bots occasionally got a fact wrong, and to be fair, humans sometimes do as well. But it’s especially important to double-check AI’s financial information, which might be dated or fail to take into account the particulars of a questioner’s situation.

That’s the bigger issue: The bots’ curiosity is limited. In our challenge, they rarely asked follow-up questions, and their understanding of human behavior, frailty and common mistakes, which play an important role in how we manage our money, seemed limited or absent.

Their approach felt very, well, machine-like in situations where emotional insights matter and need to be incorporated into the advice.

"One thing to note about AI is that it only answers the question that you ask," says Judge. "It’s not asking for additional information or asking for clarification. It’s not getting to know your personal situation. The how of financial planning is the easy part; the why often takes more thought and experience."

In the end, your financial life can’t be reduced to a math equation — and math is what the bots really excel at. Money is a highly emotional subject: It involves our pasts, our patterns, our deeply held desires, and our hopes for the people we love as well as for ourselves.

That’s something a human planner can understand. A chatbot? Not so much.

But we have to tip our hat to Claude’s surprising conclusion, which was to direct the subject in the final scenario to meet with an estate planning attorney and financial adviser — the "one meeting you need to have."

A machine working in concert with humans: That might be the smartest advice of all.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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Iconic vacation spots become iconic for a reason. But many of these spots have surged so far in popularity that it's not always a fun experience to visit there anymore when you have to mingle with intense crowds.

That's true even within the U.S., where certain parks, beaches, trails and cities are getting uncomfortably overrun. That's a growing concern in 2026 as Americans are continuing to spend more on domestic travel amid both inflation and U.S.-centric events like the World Cup and America 250.

The solution for travelers? Look into "second-city tourism," a travel trend where you pick a spot that offers a similar experience but is less well known. With that in mind, I took a look at seven popular trips people tend to take during the fall within the U.S., and found more unique, alternative itineraries for each one. Here are your choices for an incredible autumn vacation that feels a little more off the beaten path.

National park? Instead of Yellowstone, head to the Grand Tetons.

Yellowstone is easily one of the most famous and busiest national parks in the country, and for good reason, of course. But during the fall, you can escape some of the crowds and have a picturesque experience by opting for the Grand Tetons instead.

September and October are widely considered the quietest months to visit there but still have a good experience. You'll see beautiful fall foliage amid the mountain scenery (plus, the crisp weather is an asset during hiking). It's also elk mating season, which is an interesting phenomenon to be present for.

Spooky small town? Instead of Salem, head to Sleepy Hollow.

If you get into the Halloween spirit in the fall, you probably want to visit a town that does the holiday right. Salem, Massachusetts (notorious for its history of witch trials) gets over a million visitors in October.

To avoid the throng of visitors but still get the haunted vibes, Sleepy Hollow in New York offers a similar experience. The site of the iconic ghost story "The Legend of Sleepy Hollow," this small town has nightly cemetery tours, a haunted hayride, homes and businesses boasting incredible Halloween decor, and even possible sightings of the famous Headless Horseman.

It's the perfect way to get a historic, seasonally haunting experience without the packed crowds.

West Coast, nature-focused trip? Instead of Big Sur, head to Cannon Beach.

We all know there are incredible views and activities by the Pacific Ocean, but many people opt to stick to California when planning a West Coast beach trip. And while Big Sur is fantastic, heading up north to Oregon — Cannon Beach, specifically — offers you a beautiful trip that's a little more off the beaten path.

Visitors to the Cannon Beach area can explore the beach, where you can see tidal pools, and Ecola State Park, which lets you hike along coastal cliffs and through a forest. During the fall season, enjoy keeping an eye on whale migration. Plus, it's a cozier, more intimate time to be there, as many locals say it's even prettier during the stormier seasons.

One more added bonus if you're traveling with teenagers: You can road trip down the coast to see the dunes that inspired Dune, ahead of the new movie coming out this winter.

Big city? Instead of New York City, head to Philadelphia.

New York City may be the biggest city in the United States, but just two hours away, you can indulge in the arts, eat incredible meals, learn about history and generally enjoy the vibes of a larger city on a much smaller (and less expensive) scale.

You don't need the Met: The Philadelphia Museum of Art has a wonderful art collection with works by famed painters Monet and Degas. The Philadelphia Magic Gardens rivals any spot in NYC for Instagram-worthy charm. The Reading Terminal Market has food options just as good (and often even better) than Chelsea Market.

In the fall, you can catch a show at Opera Philadelphia, which even The New York Times has been raving about in recent years. They're producing a rarely performed Mozart opera with superstar singers Lawrence Brownlee and Anthony Roth Costanzo in September. Plus, fall is the perfect time to be in Philly if you're a sports fan. Eagles fans are, for better or worse, some of the most passionate in the country.

Are the mountains calling? Instead of Aspen, head to the Great Smoky Mountains.

Aspen might generate more social media chatter with its skiing opportunities and dramatic views of the Rocky Mountains, but during the fall, the Great Smoky Mountains in Tennessee offers even more beautiful sights. The fall foliage is in full bloom, the weather is much more comfortable for long days hiking, and it's still warm enough to camp.

You can also attend fall festivals in nearby towns like Gatlinburg, Tennessee. The Smoky Mountain Harvest Festival runs during September and October and offers the opportunity to buy local crafts, check out unique pumpkin carvings and see live performances. It's the perfect complement to a fall camping trip.

Winery-focused trip? Instead of Napa, head to Carmel Valley.

Tourists flock to California's wineries during the fall as it's the harvest season, which means there is more activity going on than ever – plus, the vineyards turn absolutely striking colors during this time, too. And while Napa is easily the most famed location for a wine tour, there are other equally charming options.

Consider Carmel Valley, also in California. It's a much less crowded place, but it's still famous for its wine and natural beauty. Because there are fewer people, you can have a more intimate experience and really get to know local winery owners, too.

Southern city with unique history? Instead of New Orleans, head to St. Augustine.

Everyone knows the South can get very hot and humid, which makes autumn one of the perfect times to head that way: It's much cooler and more bearable during these months.

Plus, it can be one of the best places to celebrate Halloween. New Orleans has a fascinating history rife with ghost stories, but St. Augustine in Florida offers a similar experience with less intense crowds.

Tourists can still take unusual ghost tours, learn about unusual history (it is usually dubbed the oldest city in America), and take in incredible southern architecture, but it all feels a little slower-paced and more accessible here.

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Wealth Wise is Kiplinger's advice column on navigating retirement-related dilemmas. Got a question? See below for how to send it to us.

Dear Wealth Wise: If I have a fully funded Roth account, is there any advantage to adding a college 529 plan for my grandkids' college? I believe paying for college from a Roth account is just as good or better than paying for college from a 529 plan. A 529 plan is essentially the same as a Roth, but with different rules for how the tax-free money can be used. Is this correct? — Confused Grandparent

Dear Confused: The average cost of college today is $38,270 per year, including books, supplies and living expenses, according to the Education Data Initiative. If you're retired and are in a position to help your grandchildren cover the cost of college, it's natural to want to pitch in. But it's important to do so as efficiently as possible.

Here, a grandparent with a robust Roth IRA wants to know if there's any point to funding a 529 plan for their grandkids. As they correctly point out, 529 plans and Roth IRAs have similarities. Both accounts are funded with after-tax dollars, but gains and withdrawals are tax-free provided plan rules are followed.

In the case of a Roth IRA, gains and withdrawals are fully tax-free, provided you're at least 59½ and your account meets the five-year rule. For a 529 plan, gains and withdrawals are tax-free provided your money is being used to pay for qualified education expenses.

But that doesn't mean you should just flip a coin to choose the right home for your grandkids' college savings. It's important to understand the nuances of funding an education through a Roth IRA versus a 529 plan.

Roth IRAs and 529s are different beasts

While you can technically choose either a Roth IRA or 529 plan to save for a grandchild's college, Julian B. Morris, founder and principal at Concierge Wealth Management, says, "For affluent families, I don't view a Roth IRA and a 529 plan as interchangeable tools."

Morris calls a Roth IRA "one of the most valuable pieces of financial real estate that a high-income family can own." He points out that Roth assets are usually tricky for higher earners to accumulate. That's why he generally views Roth assets as retirement assets first and education assets last.

"Every dollar withdrawn from a Roth IRA for college is a dollar that loses the opportunity for decades of future tax-free compounding for retirement," he explains.

For example, imagine you're 65 and tap your Roth IRA to help cover your grandchild's tuition. If you live to age 90, you could miss out on a huge amount of tax-free gains.

On the other hand, as Morris explains, "529 plans are specifically designed for education, funding, and offer several advantages. Grandparents can move assets out of their taxable estate while retaining control over the asset, and a large contribution can be frontloaded to maximize long-term compounding for future generations."

The 529 "superfunding" rule Morris alludes to allows an individual grandparent to bundle five years of gifts into a single lump sum of up to $95,000 (or $190,000 for a married couple). This step instantly removes that chunk from their taxable estate, allowing it to compound tax-free for future generations.

The 529 financial aid trap (mostly) no longer applies

It used to be that grandparent-owned 529 plans had to be disclosed as assets on the FAFSA. An update to that rule makes a 529 plan a far more attractive option.

While parent-owned 529 plans can reduce aid by up to 5.64% of the account’s value and student-owned plans can reduce aid eligibility by 20% of the account’s value, a grandparent- or relative-owned 529 plan should not affect need-based federal financial aid at all. This strategy is known as the grandparent 529 loophole.

That said, roughly 200 private colleges (mostly highly selective colleges) use the CSS Profile, an additional financial aid form. CSS Profile requires students to disclose grandparent-owned 529s.

Another thing to keep in mind about 529 plans is that several states offer tax incentives for contributions. Those incentives are often available to anyone who funds a 529, even if that person is a grandparent. In many cases, though, you can only reap those tax benefits if you contribute to your home state's plan.

You can roll unused 529 funds into a Roth IRA

Morris also points out that recent rule changes have made 529 plans even more attractive.

"Unused 529 assets may be eligible for rollover into a Roth IRA for the beneficiaries. The ability to convert unused education dollars into future retirement dollars has significantly reduced the fear of overfunding a 529 plan and has greatly increased its use for life after college."

As Jaine Coann Barton, Wealth Management Advisor at TIAA, explains, "If you end up with more money in the 529 than your grandchild needs, current rules allow you to roll over up to $35,000 of those excess funds into a Roth IRA in your grandchild’s name."

Just keep in mind the rules for rolling excess 529 funds into a Roth IRA. For example, the account must have been open for at least 15 years before the transfer. Moreover, your grandchild must have earned income for the year that is at least equal to the amount of the transfer.

For these reasons, Morris typically recommends using a Roth IRA as a retirement nest egg and using a 529 plan if the intent is to fund an education.

Separating personal savings from college savings is often best

Ultimately, your best move will be to open a 529 plan for your grandchild. You never know when you might face expensive home repairs, need a new vehicle, or require long-term care. Allocating funds to a 529 plan allows for that separation. You can help fund your grandkids' education without having to worry about dipping into reserves you might eventually need yourself.

Along these lines, if you stick with a Roth IRA, you might contribute less toward your grandchildren's education than what you can afford if you're worried there won't be enough money left for your own needs.

Does the flexibility of a Roth IRA outweigh the benefits of a 529?

Despite positive changes to 529 plan rules, one expert offered a contrarian view: A Roth IRA might ultimately be your most flexible option for funding a grandchild's education.

As Coann Barton points out, "It can be difficult to predict what your grandchildren's educational path will look like. Will they attend a two-year community college or a four-year private university? Will advances in artificial intelligence reshape the cost of or need for a traditional college education? A Roth IRA allows you to adapt to whatever the future holds without being locked into a specific purpose."

You can't predict your grandchild's college plans or the future of college altogether, but the addition of an IRA rollover of up to $35,000 does offset some of Barton's concerns.

A word from Wealth Wise — 529 plans are almost always best

Overall, a 529 plan beats a Roth IRA by most criteria. It can help your grandchild while also aiding your tax planning. With a 529 plan, you can shield large sums all at once through superfunding, building a hefty college fund and potentially earning you a state tax credit or deduction.

Roth IRAs, on the other hand, allow only small annual contributions ($7,500 to $8,600 for 2026). Those contributions are probably better reserved for retirement. Since you're already retired, you can't make new contributions to a Roth IRA, anyway.

Ultimately, you're doing a wonderful thing — helping grandchildren you care about get a degree while minimizing their student debt burden.

Not all questions submitted will be published, and some may be condensed and/or combined with other similar questions and answers, as required editorially. The answers provided by our writers and experts, in this advice column, are for general informational purposes only. While we take reasonable precautions to ensure we provide accurate answers to your questions, this information does not and is not intended to constitute independent financial, legal, or tax advice. You should not act, or refrain from acting, based on any information provided in this feature. You should consult with a financial adviser regarding any questions you may have in relation to the matters discussed in this article.

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Welcome to Kiplinger's My First $1 Million series, in which we hear from people who have made $1 million.

They're sharing how they did it and what they're doing with it. This time, we hear from a 68-year-old single government lawyer in Henrico, Virginia, who vows she'll never retire.

See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.)

Each profile features one person or couple, who will always be completely anonymous to readers, answering questions to help our readers learn from their experience.

These features are intended to provide a window into how different people build their savings — they're not intended to provide financial advice.

To learn what these millionaires have taught us, check out the articles 5 Key Insights We Learned From 50 Millionaires and 5 Things 50 Millionaires Wish They'd Known Before They Retired.

And to hear more about My First $1 Million, you can check out this podcast with bestselling author and tax attorney Toby Mathis:

The Basics

How did you make your first $1 million?

I made my first million in my 401(k) in September 2024 after saving for 20 years, and I paid off my home (worth $950,000) just 17 months after I bought it with my savings and with the equity I made when I sold my prior home.

What are you doing with the money?

In 2020, I was driving home from work and looking for something to listen to on the radio and accidentally tuned in to Dave Ramsey's show. I was intrigued. At the time, I had two loans from my TSP — the federal version of a 401(k) — had credit card debt and car loans. Altogether, it was about $90,000.

I paid off all of my debt (I did not go down to $1,000 in my emergency fund, as Dave suggests) in about 24 months and increased my retirement contributions to 15% and then to the max by the time the debt was paid off.

After 32 years of marriage, my husband told me he wanted to be free. The housing market post-COVID was crazy, and I had been paying down our massive mortgage with extra money toward the principal.

After all was said and done, I had a nice down payment for a townhouse and money left over. I had two cars (paid for) and sold one.

Once I was settled into my new home, I ran the numbers to figure out how quickly I could pay off the mortgage. Without a husband (who had expensive hobbies and toys and a hefty yearly tax debt), I had so much more money to do this.

I started collecting Social Security at full retirement age, and so with all of those factors coming together (no car payments, no credit card debt, no TSP loans), I was able to pay off my mortgage in April 2025.

I'm planning to work for two to four more years (I say that every year!), sock away some money and plan to live off of my pension and Social Security without touching the TSP until I'm 73, if at all possible.

And I plan to do something new in the next chapter — maybe even write a book.

The Fun Stuff

Did you do anything to celebrate?

I bought a beautiful navy blue washer and dryer that has a steam feature (I love them!), and I bought four pairs of colorful, fun, somewhat expensive (to me, but not to most people) high-heeled shoes that people notice and compliment me on all the time.

They are as pretty as my washer and dryer!

What is the best part of making $1 million?

The incredible satisfaction I felt when I reached that milestone (years earlier than expected) that years ago seemed out of reach.

Did your life change?

Yes. Having more than a million in my retirement account and a paid-off home, savings and no debt made me realize that I am working because I love what I do, not because I have to pay a bill. In the end, that is real freedom.

Does anyone know you're a millionaire?

Only my daughter knows. I'm not comfortable telling people about my net worth (currently around $2.5 million), but I do love helping people when they come to me with their investment questions.

Do you plan to retire someday?

I will never stop working at something. I have been working since I was 14 years old, and the word "retirement" makes me cringe — it's just not in my vocabulary. And the expression "golden years" — even more cringe.

My next adventure is going to be whatever challenge I can dream up. I'm not done yet!

Looking Back

Anything you would do differently?

I would definitely have put more (a higher percentage) into my retirement account early on. Did I mention this is my second career? I quit my prior career after 16 years at age 34, went to college, then law school and became an attorney (prosecutor) at age 42 — all college and law school paid for from my savings from my prior work.

I also would have done a Roth as soon as it became available. I wasn't even aware that the federal government had a TSP Roth option until 2021 — and that's when I started putting money into a Roth.

I would have also bought fewer cars. I was a sports car junkie and wasted a lot of money on that obsession! But they were fast and fun (all convertibles).

What advice would you give to your younger self?

Start early, stay focused, have a plan and you will reach your financial goal.

Once you get there, set a new goal! Never stop dreaming or reaching.

Dream. Do. Repeat.

Did you read any books that helped you on your journey?

I listened to Dave Ramsey's show constantly for inspiration. I don't do what he says 100% of the time, but I do follow most of his advice.

I read a number of Dave's books at the start.

Now I subscribe to a number of financial podcasts and financial news/articles.

Did you work with a financial adviser?

No.

Did anyone help you early on?

My dad was an incredible saver. But he also had balance and enjoyed life. He retired at 62, and he and my mother were very happy.

His work ethic and financial goals were inspiring.

I think, however, that he was a much more conservative investor as compared to me.

Looking Ahead

Plans for your next $1 million?

I plan to keep building on what I have been able to achieve — and see where it goes.

Any advice for others trying to make their first $1 million?

Start early. If you can't put the max in, start with the percentage that will give you the employer match and increase it as your income increases.

Even 1% or, ideally, 2% per year will have you at 15% in just five years, and you never miss the money.

And never take money from your retirement account!! Get a second job if you need to, but that money is for your future self.

And last, don't go into credit card debt and get rid of and vow to never have a car loan! A $500 car loan that is put into investments instead of paying a car company's finance department will grow to $1 million over your working life. Stop borrowing money for a depreciating asset.

And most of all, be content and thankful for all your blessings.

Oh, and don't get married. :-)

Do you have an estate plan?

I have a will, durable power of attorney and medical power of attorney.

Also, most important, as soon as I was single, I changed my beneficiary designations in my retirement account, my bank accounts and my life insurance.

I think many people forget to do that.

What do you wish you'd known …

When you first started saving? That it's all going to unfold as it should, and it's definitely going to be worth it!

When you first started investing? To make investing for the future a priority, leave the money alone so it can grow, don't react emotionally to market swings, enjoy the ride and save as much as possible for retirement. (Whoops! Now you have me using that word!).

Anything you'd like to add?

I'm truly ecstatic with where I am in my life.

If you have made $1 million or more and would like to be anonymously featured in a future My First $1 Million profile, please fill out and submit this Google Form or send an email to MyFirstMillion@futurenet.com to receive the questions. We welcome all stories that add up to $1 million or more in your accounts, although we will use discretion in which stories we choose to publish, to ensure we share a diversity of experiences. We also might want to verify that you really do have $1 million. Your answers may be edited for clarity.

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About 42 years ago, my grandfather, his cousins and their parents organized the first of what would become a biannual family reunion with more than 100 relatives in attendance.

In those decades, our family has grown so large, it's becoming unwieldy and a little detached.

The generation that started the tradition were fairly tight-knit, and many made an effort to see each other outside of reunion years. But for the younger generations to come after, we only see most of our distant cousins at the biannual reunion.

The biggest challenge with planning a family reunion is less about the logistics — any standard guide to event planning will cover you there. The biggest challenge is getting people to keep attending year after year.

This year, we used the reunion as an opportunity to reflect on how future generations (mine included) can keep the tradition going. I wanted to share what we talked about with others who might be struggling to get a tradition such as this started in the first place for their own family.

1. Reconnect with the relatives you want to invite outside of the reunion

The "founders" of our family reunion started it to reconnect family members who had grown up together and seen each other at regular family gatherings since the 1940s. As they grew older, they moved to different states, and those family gatherings grew less frequent. The first family reunion in 1984 was a replacement for those gatherings among a group of people who were already relatively close.

Today, my generation doesn't have that same history. We grew up all over the country, and many of us only ever see each other at our biannual reunion. If we were starting a reunion from scratch, I might not have the contact information for half of them, let alone a close enough relationship to invite them to a reunion.

If your family is far flung as is ours has become, start by just reaching out to relatives and finding a way to reconnect with some of them outside a big reunion. This might not be practical to do via in-person gatherings. But if you haven't seen some of these folks for a while, find a way to connect the family in a low-stakes, low-effort way — a Facebook group, a family group chat, a family website.

You just want a way to get everyone on each other's radar so that when you do meet in person for a reunion, it's not a gathering of strangers. It's easier to want to go to a reunion when you feel as if you know the people who will be there.

2. Start small

In the 80s, our family reunion was fairly small (for an Irish Catholic family). It was essentially the siblings who'd grown up together gathering in their hometown with their kids and spouses in tow. It grew to the size it has because the tradition of having a reunion was already in place when the children of those siblings grew up and had kids and spouses of their own.

You can start small, with relatives who know each other well enough that a reunion is an easy yes. Then, either try to expand your invite list each year or give that core family time to grow on its own.

A smaller reunion to start will also be easier logistically. If you're not a professional event planner, it's nice to start with a more manageable head count.

3. Establish a family reunion planning committee

No single person should shoulder all the responsibilities of event planning. Logistics are far more manageable if you've got a team.

In our family, the planning is done by a committee who meet (via video chats) in the months leading to the reunion to figure out the details. The people on that committee change depending on who's hosting. But it's never up to one person to organize accommodations, venues and catering for our 100-plus head count reunion.

Don't try to do it on your own. When you reach out to reconnect with family members, try to find at least one or two others who are excited enough about the idea to plan it with you.

4. Talk about your budget and finances early

A family reunion doesn't have to be expensive, but it's unlikely to be completely free of costs. You might need to rent a venue. You'll definitely need to provide food, either via catering or by buying enough to cook for a large group. Just as you shouldn't shoulder all the responsibilities of planning, you shouldn't shoulder all the costs, either.

Our family handles the financial side a couple of different ways. The main one: After securing the accommodations, pricing out the catering and figuring out the other costs for the event, the planning committee comes up with a cost per person. When invites go out, so does a request for that cost per person. We also have a few generous elders who donate more than their share of the costs.

Lastly, our family runs a silent auction at each reunion to raise extra funds for the next reunion. It features family heirlooms, local specialties brought in from the various states our family members now live, handcrafted items and other things that give people something fun to take home. The auction doesn't raise enough on its own to cover the full cost of the reunion, but it's a fun way to pad the budget.

All that money raised through the auction, the donations, and the funds gathered from each family member that RSVPs goes into its own account (currently managed by one of my great-uncles).

When you're just starting, you might have to be one of the "generous elders" donating more than your share of the costs. But don't be afraid to ask for contributions as our family does. Just make sure to fit the event to your budget rather than the other way around.

You can pad your budget a little more by making that dedicated reunion account a high-yield savings account.

Use the tool below, powered by Bankrate, to compare top savings account offers quickly:

5. Keep the itinerary simple

The most important part of a family reunion is family. You don't need an elaborate schedule of activities. You just need space and time to gather. Over the decades, our family has honed a kind of template for what each reunion will look like:

• Friday: Everyone arrives at the destination in their own time. There's an informal gathering (usually in the hotel's hospitality room) with a spread of food and drinks that people can get as they come in. We also wear name tags to avoid those awkward "I should know your name, but I don't" moments.
• Saturday: We take a big family photo, wearing our family shirts. This is the only thing for which we have to be punctual. Then, we have a picnic with some games. Later in the evening, we have dinner and a talent show (our family likes to sing). There are start times listed for these activities, but showing up late isn't a big deal.
• Sunday: The only planned activity for this day is brunch. Some relatives leave early, some stay a little longer to do their own thing.

Having a base template for what each reunion will look like can make the planning more straightforward year after year. You don't have to re-invent the wheel each time.

Above all, keep it simple. Getting dozens of people to show up at the same time in the same place isn't easy. Keep your agenda loose, and minimize the number of activities that demand strict punctuality.

6. Make it a multigenerational collaboration

One of the biggest takeaways to come out of our discussion at this year's family reunion: It's time for younger generations to step up when it comes to planning. For decades, the children of the first generation have been doing a lot of the work, but they are now in their 80s.

While my mother and her generation have gotten more involved in the last 20 years or so, we realized that there needs to be a more intentional transfer of responsibilities from one generation to the next.

If you want to build a tradition strong enough to outlast you, invite younger generations to participate in the planning and decision-making around what your family reunion looks like.

In our case, this means making sure that the reunion planning committee includes representatives from different generations — my grandparent's generation which possess the knowledge and experience of planning these gatherings for the last few decades, my parent's generation which has gotten more involved, and my own generation which has been attending these events all our lives and are now old enough to start learning the ropes.

The goal is that by maintaining this multigenerational mix, even when my generation becomes the oldest at the reunion, the transition of planning duties from one generation to the next will be a lot smoother.

Just go for it

If you've been thinking about starting a reunion for your family, I hope you take this as your sign to take the leap, because instilling this tradition in your family is worth it. I have been attending these reunions since I was a baby, and I hope to see them keep going even into my 90s.

One weekend isn't enough time to reconnect with every member of my family as deeply as I might like. But there's something special about taking this time every other year to gather, check in with each other and sing "Oh, Danny Boy" for the umpteenth time.

Keeping a family reunion going takes teamwork. Take our quick quiz to discover the role you could play in building a family tradition that lasts for generations.

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Recent changes in the housing market bring good news for home buyers. According to Realtor.com’s June 2026 housing trends report, asking prices are easing and buyers have more leverage than they've had in recent years.

The national median listing price was $430,000 in June, down 2.5% year-over-year. It marks the eighth consecutive month of year-over-year asking price decline.

Falling asking prices may be a sign that sellers are becoming more flexible. Rather than holding out for pandemic-era prices, they're adjusting to current market conditions, giving buyers more opportunities to negotiate and some welcome relief on price.

1. More sellers are cutting prices

An increase in price cuts is an encouraging sign for buyers. In June, about 18.8% of active listings had a price reduction, suggesting that more homes are sitting on the market longer and sellers may be becoming more willing to negotiate.

Buyers can use that information to their advantage. A home's price history, the number of days it has been on the market and any previous price reductions can all help you gauge how much negotiating power you have.

If a property has been listed for several weeks or has already seen multiple price cuts, you may have room to negotiate a lower purchase price or ask the seller to cover closing costs, pay for repairs or offer other concessions.

2. Buyers have more homes to choose from

According to the report, active home listings increased 1.9% year over year and 4.1% from May. More homes on the market give buyers more options and reduce the pressure to make rushed decisions or waive important protections, such as a home inspection.

Increased inventory can also reduce competition, making bidding wars less common and giving buyers more room to negotiate. Even so, inventory remains below pre-pandemic levels nationally, and conditions vary widely by region.

In the South and West, active listings now slightly exceed pre-pandemic levels, giving buyers considerably more choice. In contrast, the Northeast continues to face a significant housing shortage, with active listings still 47.3% below pre-pandemic levels, the largest inventory gap in the country.

3. Homes are no longer taking longer to sell

For the past 26 months, homes took longer to sell than they had a year earlier, but that trend leveled off in June. The median home spent 53 days on the market, unchanged from the same month last year. While homes aren't lingering longer than they were a year ago, time on the market remains an important indicator for buyers.

A home's listing history can provide valuable clues about a seller's motivation. Properties that have been on the market for 60 days or longer may be overpriced or attracting less buyer interest, making sellers more open to negotiating. Even homes that have been listed for 30 days without an offer may present opportunities to ask for a lower purchase price, seller-paid closing costs or other concessions.

Rather than focusing only on the asking price, look at how long the home has been listed, whether the price has been reduced and how similar homes in the area have sold. Together, these factors can help you decide how aggressive to be with your offer.

4. The summer slowdown could work in your favor

Buyers shopping this summer may have another advantage: the seasonal slowdown. Housing activity often cools in July as vacations, family schedules and the back-to-school season pull attention away from home shopping. June's increase in price reductions and slower pace of new listings suggests that seasonal shift may already be underway.

A slower market can give buyers more breathing room to compare homes, negotiate with sellers and avoid the intense competition that's common during the spring buying season.

If listings continue to linger on the market and price reductions become more common, buyers may find even more opportunities to negotiate on price, closing costs or other seller concessions.

5. Your local market matters most

While buyers have more room to negotiate in many parts of the country, market conditions still vary widely by region. Since the national price peak in June 2022, asking prices have fallen 7.3% in the West and 3.5% in the South.

In contrast, asking prices have continued to rise, increasing 10% in the Midwest and 12.6% in the Northeast.

That's why national housing headlines only tell part of the story. Before making an offer, research what's happening in your local market. Review recent comparable sales, track how long homes are staying on the market and pay attention to price reductions in the neighborhoods you're considering.

A local real estate agent can also help you understand current market conditions and advise how aggressively to negotiate.

How to use your leverage when making an offer

Knowing you have more negotiating power is only half the equation. Using that leverage strategically can help you secure a better deal without stretching your budget. Before making an offer, keep these tips in mind:

• Research comparable sales. Look at recent sales in the neighborhood, how long the home has been on the market and whether the seller has already reduced the asking price. These details can help you determine how competitive your offer needs to be.
• Lean on your real estate agent. A local agent can provide insights into market conditions, recent comparable sales and the seller's negotiating position to help you decide on a fair offer.
• Negotiate more than the price. Depending on the market, you may be able to ask the seller to cover closing costs, make repairs before closing or provide credits after the home inspection.
• Don't rush to waive contingencies. Unless you're competing in an exceptionally hot market, think carefully before giving up protections such as a home inspection just to strengthen your offer.
• Keep affordability first. More negotiating power doesn't automatically make a home affordable. Before shopping, determine how much home you can comfortably afford based on your income, expenses and long-term financial goals. If a home still stretches your budget after negotiations, it's better to walk away than overextend yourself financially.

Your mortgage interest rate plays a major role in your monthly payment.

Use the tool below, powered by Bankrate, to compare today's top mortgage offers:

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Planning a family reunion takes more than booking a venue and sending invitations. Every successful reunion needs organizers, memory keepers and people who bring everyone together. It's those different strengths that turn a single gathering into a tradition families look forward to for generations.

Take this quick quiz, inspired by our story about a family that's kept its reunion going for more than 40 years, to discover the role you could play in planning your own family's next reunion.

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• I'm Treating My Kids and Grandkids to a Greek Cruise, But My Son Can't Go. Do I Owe Him a Check to Keep Things Fair?
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• How to Plan a (Successful) Family Reunion
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A lot of financial advice treats every stage of life the same, with a checklist repeated with bigger numbers.

This guide walks through what tends to matter most in your 30s, 40s, 50s and 60s.

We'll cover which decisions carry the most weight and what deserves attention at each stage of life.

Financial priorities in your 30s

Higher income in your 30s rarely creates as much breathing room as people expect.

The extra money usually disappears into rent upgrades, childcare, weddings and student loans.

Here's what to do:

• Track what's coming in and what's going out.
• Build an emergency fund. Three to six months of essential expenses can change how a layoff, medical bill or major repair hits a person financially.
• Start retirement savings early, even if the amount feels small. Get the full 401(k) match if you have one. Without a workplace plan, consider an IRA.
• If someone depends on your income, ensure you have term life and disability insurance.
• Prioritize high-interest debt first. After that, the best payoff system is usually the one you'll stick with.

The systems you automate here tend to follow you for decades.

Jeffrey Zhou, CEO and founder of Fig Loans, works with borrowers building credit and rebuilding financial consistency over time.

"The biggest financial improvements usually come from consistency, not intensity," Zhou says. "People tend to underestimate how much automatic savings, recurring payments, and predictable routines compound over a few years."

Financial priorities in your 40s

This is the decade in which people often look financially successful while feeling stretched all the time.

Conrad Wang, managing director of EnableU, works with businesses and households navigating long-term financial and operational planning.

"The people who struggle most financially in their 40s usually aren't reckless spenders," Wang says. "They're carrying too many fixed obligations at the same time. Bigger mortgages, kids' expenses, aging parents and higher insurance costs. The pressure comes from how many things become non-negotiable at once."

David Kolodny, co-founder of Wilbur Labs, oversees the financial strategy behind building and scaling multiple companies simultaneously.

"Financial complexity increases significantly in your 30s and 40s." Kolodny says. "You're managing an increasing set of personal obligations and business decisions at the same time, and the margin for error on both sides shrinks.

"The people who navigate it well usually have one thing in common: They stopped treating financial planning as something to revisit annually and started treating it as an ongoing operating system."

A few priorities start carrying more weight here:

• Retirement contributions need to increase. Aim for roughly three times your salary saved by age 40 and about six times by age 50, although real life rarely follows those benchmarks perfectly.
• Avoid stagnation. A contribution rate that stays frozen for ten years becomes difficult to recover from later.
• A 529 plan can provide tax advantages and flexibility if education funding is part of the plan. The IRS keeps a straightforward overview of qualified tuition programs and eligible expenses.
• Investment allocations deserve more attention now. A portfolio built entirely around aggressive growth at 31 might not fit the same way at 47. Rebalancing matters because markets distort risk exposure over time.
• Estate planning usually gets delayed too long here because people associate wills and powers of attorney with retirement. In reality, this is often when they become necessary.

Make sure documents reflect current life circumstances instead of the version of your life that existed 12 years ago.

Financial priorities in your 50s

Retirement starts feeling close in your 50s. That changes the weight of financial decisions very quickly.

This is usually peak earning territory, which makes the decade important.

A few strong years can materially improve retirement flexibility.

A few careless ones can create pressure later that's difficult to recover from.

Phil Santaro, co-founder of Wilbur Labs, oversees the financial strategy behind building and scaling multiple companies simultaneously.

"The 40s are when financial complexity compounds faster than income does," Santoro says. "You're managing personal obligations and business decisions at the same time, and the margin for error on both sides shrinks.

"The people who navigate it well usually have one thing in common: they stopped treating financial planning as something to revisit annually and started treating it as an ongoing operating system."

In your 50s, protection starts mattering more. Pay more attention to volatility, taxes, withdrawal sequencing and how much market risk your future retirement income can realistically absorb.

A health savings account (HSA) paired with a high-deductible health plan can create meaningful tax advantages for future medical costs. Long-term care deserves attention, too; 70% of people turning 65 today will need some form of long-term care during their lives.

Mortgage decisions become more nuanced during this decade, as well.

Some people prioritize entering retirement debt-free because the psychological relief matters to them. Others prefer keeping more liquidity available and investing excess cash elsewhere. There is no universal answer.

Before retirement gets too close, it also helps to stress-test spending.

Try living for a few months on the income level you expect later, and save the difference.

Financial priorities in your 60s

One bad stretch of market withdrawals early in retirement can weaken a portfolio faster than most people expect because the account is no longer just compounding in the background.

A few decisions start carrying outsize weight:

• Delaying Social Security beyond full retirement age increases monthly payments by roughly 8% annually up to age 70, but the right timing depends on health, cash flow and household needs.
• Withdrawal order affects how much income gets exposed to taxes over time, especially once required minimum distributions (RMDs) begin.
• Medicare enrollment mistakes, coverage gaps and income-related premium surcharges can become expensive quickly.

The large family house that once made sense can start feeling expensive, empty or exhausting to maintain.

Sometimes downsizing is about unlocking equity and simplifying daily life.

Estate plans deserve another serious review here, as well. Your paperwork should reflect your current reality, not the version of your life from 15 years ago.

Related Content

• How Your Net Worth Should Change as You Age
• Here’s a Step-by-Step Guide to Retirement Planning by Age
• Retirement Savings on Track? How Much You Should Have by 55 and 60
• The First 5 Years After a Salary Jump: How to Handle a Pay Raise Without Buying a Life You Can't Afford
• I'm a Financial Pro: This Is What No One Will Tell You About Getting Rich

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Luxury cars, designer handbags and sprawling homes often dominate conversations about wealth. But many people with strong finances don't fit that stereotype at all.

Instead, they're quietly building wealth behind the scenes by making intentional spending decisions, investing consistently and resisting the pressure to keep up with everyone else. This approach is commonly known as stealth wealth, and it's becoming increasingly popular among younger professionals and families who value financial independence over outward displays of success.

Rather than spending to look wealthy, stealth wealth focuses on becoming wealthy. If any of these habits sound familiar, you might already be practicing stealth wealth without realizing it.

What is stealth wealth?

Stealth wealth is the practice of building and maintaining wealth without advertising it through expensive possessions or lavish spending. The term has been around for decades, but it's gained renewed attention as more people pursue financial independence, embrace minimalism and question the pressure to constantly upgrade their lifestyles.

Part of the appeal comes from today's economic reality. Higher housing costs, inflation and economic uncertainty have prompted many households to prioritize long-term financial security over appearances. At the same time, social media has made it easier than ever to compare lifestyles, making the decision to quietly build wealth feel almost countercultural.

The common thread is simple: Your financial success doesn't have to be visible to everyone else. Here are seven common signs that you might be practicing stealth wealth without realizing it.

1. You keep your lifestyle in check when your income grows

One of the biggest obstacles to building wealth is lifestyle inflation.

It's tempting to celebrate every raise or bonus with a nicer apartment, luxury vehicle or more expensive vacations. While there's nothing wrong with enjoying your success, automatically increasing your spending every time your income rises can leave you feeling like you're earning more without getting ahead.

People who practice stealth wealth often do the opposite. They continue living comfortably on their existing budget while directing much of the additional income toward retirement accounts, brokerage accounts, debt repayment or savings goals.

Even saving or investing half of every raise can dramatically increase your long-term wealth while allowing your lifestyle to improve gradually over time.

Use the tool below to connect with a financial adviser who can help you build a plan based on your financial goals:

2. You drive your car long after it's paid off

For many households, a vehicle is one of the largest monthly expenses after housing. Instead of replacing a perfectly reliable car every few years, stealth wealth practitioners often keep driving it long after the loan is paid off. They continue setting aside what would have been their monthly payment or redirect those funds toward investing.

Keeping a dependable car for several extra years can save thousands in monthly payments, depreciation, higher car insurance premiums and registration costs. Recognizing that extending the life of a paid-off car often creates far more financial flexibility than upgrading simply because you can.

3. You prioritize retirement over status symbols

Stealth wealth is often invisible because much of the money goes somewhere people can't see.

Instead of spending thousands on luxury purchases, these individuals consistently contribute to retirement accounts like a 401(k) or IRA. They might also increase contributions each year or invest additional money in taxable brokerage accounts.

The tradeoff can feel boring in the short term. Friends might notice someone else's new luxury SUV, but they won't notice an extra $10,000 invested for retirement. Over decades, however, consistent investing and compound growth typically have a much greater impact on long-term financial security than expensive purchases that quickly lose value.

4. You buy for value, not to impress

Practicing stealth wealth often means focusing on value over status as opposed to always buying the cheapest option. That could mean purchasing high-quality shoes that last for years, durable kitchen appliances with excellent warranties or classic clothing that won't go out of style next season.

Many financially successful people are willing to spend more when quality genuinely saves money over time, but they aren't interested in paying extra simply because a product carries a luxury logo.

This mindset encourages thoughtful rather than emotional purchases and reduces the cycle of constantly replacing lower-quality items.

5. You avoid financing discretionary purchases

Credit can be a useful financial tool, but stealth wealth practitioners are often cautious about financing wants instead of needs. Rather than putting vacations, furniture, electronics or luxury goods on long-term payment plans, they might delay the purchase until they can comfortably pay for it in cash.

Waiting has two benefits. First, it eliminates interest costs that make discretionary purchases more expensive. Second, it creates time to determine whether the purchase is something you truly value or simply wanted in the moment.

Delaying gratification isn't always exciting, but it often leaves more money available for investing and other long-term goals. While you're saving for a major purchase, keeping that money in a high-yield savings account can help your balance grow while you wait.

Use the tool below, powered by Bankrate, to compare today's top savings account offers:

6. You don't feel the need to broadcast your spending

Social media has made it easy to showcase expensive vacations, new homes and luxury purchases. But it has also fueled comparison and the pressure to keep up.

People practicing stealth wealth often take a different approach. They don't feel compelled to post every purchase or use spending as proof of success.

That's not because they're trying to hide their finances. Rather, they understand that financial confidence comes from meeting personal goals, not from collecting likes or impressing strangers online. Ironically, many genuinely wealthy individuals live far more modestly than people assume because they aren't interested in turning their finances into public content.

7. Your net worth is growing faster than your spending

Perhaps the clearest sign you're practicing stealth wealth is that your assets are growing faster than your lifestyle. Each year, your retirement accounts, investments, home equity or savings balances increase while your spending remains relatively stable. Instead of measuring success by what you own, you measure progress by your financial foundation.

This implies that building wealth takes priority over constantly upgrading your lifestyle. Over time, this gap between growing assets and controlled spending can create greater financial independence and more choices about how you live and work.

The goal isn't to look poor — it's to build wealth

Stealth wealth is all about making intentional financial decisions that reflect your priorities instead of other people's expectations.

You can still enjoy vacations, buy things you love and celebrate milestones. The difference is that your spending aligns with your long-term goals rather than social pressure.

In a culture that often encourages people to spend first and save later, quietly building wealth might not attract much attention. But over time, it can provide something far more valuable than appearances: financial freedom, flexibility and peace of mind.

What kind of stealth wealth builder are you? Take the quiz to find out.

Related Content:

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• Seven Secrets to Building Wealth (That You Can Implement Today)
• The Smart Way to Retire: 13 Habits to Steal From the Wealthy

If you've ever boarded a flight hoping no one would take the middle seat next to you, United Airlines is turning that wish into a premium upgrade.

The airline announced a new Economy Plus seating option that permanently replaces the middle seat with a fixed table, giving two passengers significantly more personal space. The feature will debut on United's new Airbus A321XLR aircraft, which will begin entering the fleet later this year.

United hasn't announced pricing yet, but the new option reflects a growing trend in air travel. Rather than raising ticket prices across the board, airlines are increasingly creating premium add-ons that let travelers pay for the comforts they value most.

How United's new Economy Plus seating works

The new seating option will only be available in Economy Plus, United's extra-legroom economy cabin.

Instead of a traditional three-seat row, United has designed one specially configured row per aircraft where the middle seat is permanently replaced by a fixed shared table. The result is more personal space for both passengers seated on either side.

Along with the additional elbow room, travelers will still receive the three extra inches of legroom that come with Economy Plus seating.

The new configuration will first appear on United's Airbus A321XLR aircraft, which are expected to begin flying select domestic routes this fall before expanding to international service.

Unlike temporary blocked middle seats used during the pandemic, this is a permanent cabin design intended to create a more comfortable premium economy experience.

Why is United charging for an empty middle seat?

United's new seating option is part of a broader trend in the airline industry: giving travelers more opportunities to customize their flight for an additional fee.

Instead of raising ticket prices for everyone, airlines have increasingly introduced optional upgrades that passengers can choose based on what matters most to them. Checked bags, preferred seat assignments, extra legroom, early boarding and in-flight Wi-Fi have all become common add-ons over the past decade.

An empty middle seat is simply the latest comfort upgrade travelers can buy.

The timing also makes sense. Airlines have reported that demand for premium travel continues to outpace standard economy, with more passengers willing to pay extra for added comfort, especially on longer flights. By offering a more spacious Economy Plus experience, United can appeal to travelers who aren't ready to pay for business class but still want a more comfortable journey.

Who should actually pay for it?

Like most airline upgrades, the value depends on who's traveling and how long you'll be in the air.

It may be worth paying for if you're:

• Traveling as a couple. Two people traveling together can enjoy the extra room without sharing space with a stranger.
• Flying with a young child. The fixed center table provides a convenient place for snacks, coloring books, tablets and other travel essentials.
• Over six feet tall. The combination of extra shoulder room and additional legroom could make a noticeable difference on longer flights.
• Traveling for business. If you plan to work during the flight, having extra elbow room and a dedicated surface can make using a laptop much more comfortable.
• Taking a long-haul international flight. The longer you're seated, the more valuable additional space becomes.
• Working on a laptop. Even outside of business travel, anyone hoping to be productive during the flight may appreciate the less cramped workspace.

It may not be worth the extra cost if you're:

• Taking a flight that's less than two hours.
• Traveling solo on vacation and simply looking for the lowest fare.
• Trying to stick to a tight travel budget.

For many short domestic flights, the upgrade may not provide enough additional value to justify the added cost.

How much could it cost?

United has not announced pricing for the new seating option. However, current Economy Plus pricing provides some clues about what travelers might expect.

Today, upgrading to Economy Plus typically costs anywhere from around $20 to more than $200, depending on the route, flight length and demand. Exit-row seats and preferred seats often carry premiums ranging from roughly $20 to $100 or more, particularly on busier flights.

Because United's new option combines Economy Plus legroom with a guaranteed empty middle seat, it's reasonable to expect pricing above a standard Economy Plus upgrade. Longer international routes will likely command higher premiums than shorter domestic flights.

Until United releases official pricing, though, any estimates remain speculative.

How does it compare with other airlines?

While the concept is new for United, it's not entirely new to the airline industry.

Frontier Airlines already offers UpFront Plus, a premium seating option near the front of the aircraft that guarantees passengers an empty middle seat for an additional fee.

The idea also resembles the Eurobusiness cabins used by many European airlines. Rather than installing larger business-class seats, those carriers often create a premium cabin simply by blocking the middle seat in standard economy rows.

United has taken that concept one step further by replacing the middle seat with a permanent table instead of simply leaving it empty.

Related Content:

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• Which Airlines Have the Most Legroom — and Which Have the Least?
• 23 Best Travel Websites and Apps to Find Deals and Save Money

Remember the days of blinking in-store coupon dispensers and thick, mailbox-clogging booklets full of grocery discounts? Depending on where you live, that might still be your weekly reality.

But those days are fading fast, as rising print costs and falling newspaper circulations push glossy inserts into history. Yet the need to save on food costs is stronger than ever — especially since strategic couponing can still slash roughly 17% off the average grocery run.

That's where the grocery store surprise bags come in.

If you're familiar with the mystery liquidation bundles at flea markets or online auctions, you might already know how it works: stores sell a grab bag of goods, and you reap the discounts.

Now, traditional grocery stores are getting in on the action — cutting retail prices by 50% to 75% on leftover inventory through smartphone apps.

But there's a catch: What you save in cash, you pay for in scarcity, variety, and relative value. To see if the tradeoffs are worth it, I bought a grocery store surprise bag on a popular app so you don't have to navigate these "surprise taxes" alone. Here's what I found.

This article is not a sponsorship or an endorsement of any particular product. Information is provided for educational purposes only.

What are grocery store surprise bags?

At their core, grocery surprise bags are mystery bundles of surplus produce, baked goods, and canned or boxed items sold at steep discounts. The premise is simple. You buy leftover inventory to avoid paying premium prices, and the stores successfully curb their food waste.

Here's how the process works:

1. Download the app. You install a surplus food app on your smartphone.
2. Find nearby stores. You enter your location to view nearby participating grocery stores, bakeries, and markets. I was surprised (pun intended) to find major national chains like Whole Foods and The Fresh Market alongside local independent shops.
3. Reserve and pay. When you spot an available surprise bag in your area, you reserve and pay for it directly through the app.
4. Pick up. Each store has a dedicated pickup window. You simply arrive during that timeframe, show the clerk your digital receipt, and claim your bag.

For my experiment, I chose Too Good To Go, the app that popularized the term "Surprise Bag" for grocery mystery bundles and has over 120 million registered users worldwide. The app's website also states that its bag prices are "roughly a third of the original price," which I was eager to test firsthand.

My experience buying a grocery store surprise bag

With traditional coupons, you know exactly what you're buying. With a surprise bag, you surrender all control over the contents, condition, and variety of the food.

So when I purchased a surprise grocery bag for the first time, I was somewhat skeptical about whether it would be truly "worth it."

Would I get a random collection of unusable items? Would the food be stale, expired, or overvalued by the app?

To find out, I purchased a "Bakery Surprise Bag" from The Fresh Market (one of two major grocers in the area on the Too Good To Go app). The bag promised $30 worth of food for just $10 (plus sales tax).

Then I went for pickup. I arrived during the designated 10 a.m. to 6 p.m. pickup period and showed my order to the store manager, who verified my bag type and retrieved my haul from the back.

After that, I managed a quick Q&A to see how the system worked on their end. This is roughly how the conversation went:

Me: When are the bags put together?
Store manager: Every morning. They sell out fast, usually between 7 am and 8 am (I had purchased my bag at 8:30 am that morning).

Me: How much are they worth?
Store manager: They're worth a lot. I think it's $35.

Did you catch that? The bag was supposed to be worth $30, not $35. Apparently, I was already receiving a more valuable bag than anticipated, which probably explains why the store had a 4.8-star rating (out of 5) on the app.

But, to my disappointment, the store manager couldn't tell me exactly when the items were baked. For that, I needed to inspect the items thoroughly (oh, darn…taste test time).

Here's what I got

List of what I received (from left to right):

• Peach Creme Challah
• Rustic Italian Bread
• Sweet Hawaiian Dinner Rolls (12-count)
• Blueberry Muffins (4-count)

A quick inspection at home revealed that everything was stamped with that exact day's sell-by date.

Fortunately, because baked goods don't spoil immediately, this still gave my family a comfortable two- to five-day window to enjoy the breads and pastries. Nothing was stale, and everyone agreed the selection was delicious — especially the blueberry muffins (seriously, they were incredibly moist).

In the end, the items tasted nice (and we could eat them comfortably before they expired), but questions about the value remained. What was the true worth of all these items?

Are the surprise bags worth it? The value of what you get

To verify the app's claims of $10 for $30 (or the manager's $35), I tallied up the standard retail pricing of the items I received according to their printed labels.

The verdict? The value is absolutely there. For a family of four, this bundle was perfect for quick breakfasts, easy dinner sides, and fun snacks in between meals. I also think a bag like this would work well for larger families, weekend brunches, or busy parents looking to feed their kids after school.

And because baked goods freeze well, slicing and individually packing these items for a solo saver or seniors on a budget can stretch this $10 mystery bag into weeks of high-quality baked goods. Therefore, from a strict dollar-value standpoint, the deal is bound to save shoppers money.

Why I won't do it again: The 'surprise tax'

Even though I loved the quality and value of my haul, first-time users should be aware of a few hidden logistical "taxes" — what I call the "surprise tax" of a grocery surprise bag.

These are the factors that sap time and energy, ultimately souring the deal for some shoppers (including me).

1. The scarcity tax

Grocery bundles sell out fast — like really fast. At least, that's how it went on the app that I used. If you don't happen to be looking at your phone the exact time a bag is "dropped," you might find nothing but "sold out" banners when you finally click in. This happened to me multiple times the first night I tried to snag a bag. Shoppers on Reddit have also expressed this deep frustration over missing out on bags, leading some to give up entirely.

2. The variety tax

Because you can't choose the inventory, you risk getting repetitive items. I only bought one bag, but other shoppers have reported receiving the same items multiple times in a row or even products past their expiration date. The app can also be discouraging if you have a food allergy, since few places on the app in my area offered allergy-friendly "Surprise Bags."

3. The relative value tax

The "savings" may be lower than your local grocer's prices. For example, if you're used to buying your blueberry muffins from Walmart, a 4-count might cost around $4.98. That's about $2 cheaper than the retail price of the muffins I received, and I didn't get to choose my flavor or check the expiration date. Plus, some grocery app users have reported receiving bags filled with items that were already marked down on clearance shelves, making the actual "retail value" lower than advertised.

The bottom line

Would I get it again? No.

Although grocery surplus apps are wildly popular, the industry is still growing. Even Too Good to Go, regarded as the market leader, doesn't quite have the coverage it needs yet in many suburban and rural areas.

For example, my closest participating grocery store chain was about a 25-minute drive away (mind you, there were several participating restaurants, however). Spending almost an hour by car burned gas and time, which quickly ate away at the $25 savings margin on my groceries. Combined with the "surprise tax," that tradeoff just isn't worth it to me at this time.

However, if you live in an area with closer shops and find it easier to snag a grocery surprise bag, there are definite savings.

After all, average weekly savings through couponing reaps $5 to $10 (per the Credit Union report), but if you buy multiple surprise bags, you could save $25 to $75 per week.

Either way, the next time you see a shopper flash their phone at a grocery counter and walk away with a bag, know that they aren't just picking up takeout. They could be buying a basket full of groceries very similar to your own — but at a mere fraction of the price.

Read More

• The 'Food Tax': Which States Still Tax Groceries?
• 10 States with the Lowest Sales Tax in 2026
• Places Where State Sales Taxes Are The Highest

When I think of summertime, I think back to 17-year-old me — driving my car, windows down, not enough sunscreen on, listening to music. Summer always meant less noise, fewer worries about school and not being held hostage by alarms.

These memories have always evoked especially carefree feelings. Until now.

Today's (slightly older than 17) me is struck by the fear that for Gen Z (those born roughly between the late 1990s and early 2010s), summers aren't as insulated from the noise, especially from the echo chamber of social media. And that is causing distress.

Gen Z is inundated with content about the best clothes, the worst places to go to school, the "right" look. They are also exposed to endless financial content, almost daily, and I believe it is causing anxiety.

These young people are under extraordinary pressure to look like they have it all figured out — and it's preventing them from asking for help.

This article looks to quiet a bit of that noise and shine a light on some fundamental financial building blocks.

I'll also discuss where Gen Zers can find trusted, competent advisers to complement their knowledge and provide an appropriate level of support, and how they can create a life for themselves based on financial stability and security.

But first, a few recent examples of "noise."

Side hustles build wealth, but jobs are boring

One common narrative on social media involves downplaying the benefits that come from a traditional, 9-to-5 job. It romanticizes a version of entrepreneurship, which more closely resembles a side hustle that someone should be doing for joy and extra cash rather than to build wealth.

Entrepreneurial spirit and drive are important and can be great, but placing too much emphasis on these themes can make Gen Zers feel bad about not monetizing hobbies. Instead, I think it's more important to think about how to create wealth from your career.

Take workplace benefits, for example. These are a largely invisible form of compensation. A company matching a 401(k) contribution, access to health and disability insurance, or the ability to save into a health savings account or flexible spending account can be incredibly valuable when life takes an ugly turn.

Simply having a predictable cash flow itself is a huge benefit for someone looking to build wealth. It means you can automate savings, anticipate how much you can invest and plan for the future.

Girl/boy math and 'no-spend' months

Some catchphrases are funny — for example, using the term "girl/boy math" to justify unnecessary spending (if you return a shirt that costs $50, you made $50).

"No-spend months," on the other hand, create a restrictive mindset more akin to dieting.

Both can lead to unhealthy financial behavior because they turn budgeting into a game or punishment.

In reality, budgeting is an exercise where you look at your cash inflow and determine how much you can spend on necessary costs, such as rent or a car payment, and discretionary costs, such as dining out, taking that vacation or bulking up savings.

By creating short- and long-term goals, you can create a meaningful, attainable budget that is sustainable for your overall financial health.

Be your own financial adviser — it's easy

No. It's not. While I appreciate the spirit of independence, it's risky to think you shouldn't ask a professional for help because you should be able to do it on your own using "facts" available on the internet.

There's a big difference between being able to access financial information and being able to understand it. Having the ability to sift through what is fact or fiction and apply it to your situation can be incredibly complex — and that's where professional help is useful.

Gen Zers seem to select financial advisers with a decent amount of skepticism and due diligence — and this is a good thing.

But those who hire professionals know the good ones can help educate and coach them to make their own financial decisions, accept new ideas and keep them on track to achieve their financial goals.

Setting the right foundations

This is just a sample of the noise that Gen Z constantly hears. There are plenty more examples and some can be pretty insidious, promising dreams of getting rich quick.

If we can do one thing for our Gen Z friends and family, it's to give them a foundation that helps them feel great about their own choices now and in future. Then maybe they can get back to what young people should be doing this summer — having some fun.

Related Content

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• A Matter of Trustees: Is Your Spouse the Best Person to Manage the Kids' Trusts?
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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Picture a family sitting around the table for Thanksgiving dinner. They chat, laugh and enjoy the thoughtfully prepared meal. As they finish, the conversation shifts to what each family member is thankful for. They talk about gratitude in the context of family values and decide which charities to support during the holiday season.

Conversations like this can engage children in charitable giving early on. And while every family's discussion will be different, taking this kind of intentional approach is an essential first step in building and maintaining a lasting charitable legacy.

This is a hot topic for many families. After a decade of buildup, most agree that the Great Wealth Transfer is underway. According to Cerulli Associates, $124 trillion will be transferred by 2048. Most of that will come from baby boomers, and an estimated $18 trillion is expected to go to charitable causes.

Those who want to use the Great Wealth Transfer to build a meaningful legacy will need to focus on two distinct priorities. The first is effectively navigating tax provisions and making the right decisions around asset transfers — an elemental part of financial planning that requires constant vigilance.

The second is building an efficient succession plan that empowers heirs and future generations to carry the legacy forward.

Passing on assets, values and processes

Younger generations stand to inherit more than money. The biggest hope might be that they inherit some of the values and priorities that helped shape how their elders gave. But they often inherit the family process for charitable giving.

For families with a private foundation, this could mean board meetings, administrative responsibilities and managing considerable overheads. These systems may have worked for older generations, but they can feel confusing and burdensome to successors.

To make matters more complicated, many families will experience multiple inheritances as money passes from one generation to another. Married couples may leave money to their spouse as well as their children, for example. In fact, research suggests that $54 trillion will be passed on to widowed spouses as part of the Great Wealth Transfer.

Older spouses must therefore discuss their priorities and plans for how money will pass down. They can then begin talks with the next generation — and advisers — about how to make the process of charitable giving as effective and impactful as possible.

Using a flexible giving vehicle

When considering different approaches to transferring wealth, look for those that offer flexibility. Some families want to empower future generations while retaining some control, for example. A donor-advised fund (DAF) can be a useful tool for this kind of cross-generational giving.

A DAF offers a powerful framework for streamlining and managing elements of inheritance and sustained charitable giving. Specifically, a DAF's structure allows families to combine two common tactics in charitable succession planning: Bestowing to others and endowing to charity.

Bestowing to others enables future generations to assume account privileges and begin making strategic philanthropic decisions. With a Vanguard Charitable DAF, for example, up to two individuals (often a spouse or a child) can be named successor advisors.

The account can then be split into multiple new accounts, allowing families to segment funds and responsibilities how they see fit.

Endowing directly to charity, on the other hand, allows older generations to retain decisions about giving, even after they pass or no longer control the account. You can do this by recommending recurring grants from the DAF. These schedule repeating grants to one or more charities based on a percentage of remaining account assets.

Another benefit of a DAF is that it can accept assets from a private foundation. This simplifies administration, which can relieve many of the burdens inheritors may resist. It also establishes a clear structure for balancing giving priorities by bestowing to others and endowing to charity.

How to navigate family dynamics

With the right plan and giving tools in place, successions and inheritances become an opportunity to pass down one's priorities and lessons alongside wealth. But what happens when families don't agree on values and struggle to create a meaningful path forward?

There is no one-size-fits-all solution, as every family has its own dynamics to navigate. However, there are some best practices to keep in mind.

Clearly communicate expectations. There should be few surprises when an inheritance occurs. Through conversations and estate planning, make sure expectations, roles and wishes for future generations are well established and understood.

Incorporate responsibilities in stages. Just as a child's introduction to finances is traditionally an allowance, then a checking account, then perhaps a credit card, charitable giving and grantmaking can be taught in incremental steps. This can include opening a smaller DAF or another charitable vehicle to help younger generations better understand the process.

Create opportunities for conversation. Charitable giving is a significant and rewarding part of life for many individuals and families. Making time for conversations around philanthropic priorities and how they may evolve over time is critical.

No two families are alike. Those Thanksgiving and dinner table talks will vary. But creating a plan with the right tools and communicating that plan with younger generations — is a powerful way to create and maintain an impactful charitable legacy.

Related Content

• Great Wealth Transfer: How Families Can Get on the Same Page
• Why Wills and Trusts Aren't Enough in the Great Wealth Transfer, From an Attorney Who Knows
• High Earners Want to Give Money and Communities Need It: Impact-First Investing Can Bridge the Gap
• Giving Gamechanger: Why Now's the Time to Use a Donor-Advised Fund
• Donating Complex Assets Doesn't Have to Be Complicated

This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

Update: The back-to-school Alabama sales tax holiday has ended.

Alabama shoppers had something to look forward to: Back-to-school savings. Savvy shoppers could purchase school supplies, computers, and clothing free from the state’s sales tax. This was a big deal, since Alabama has one of the highest sales tax rates in the U.S.

And in 2026, the sales tax holiday was bigger than ever.

State lawmakers enacted legislation to raise the qualifying exemption amounts on select clothing, school supplies, computers, books, and more. This meant that you could spend more per item without paying state sales tax.

"The expanded exemption limits make this year’s tax holiday even more valuable for Alabama families," Rick Brown, president of the Alabama Retail Association, stated in a release. "These changes help consumers purchase the items they need for the new school year while also supporting Alabama retailers in their local communities."

Here’s what you needed to know about the Alabama tax-free weekend to make the most of your shopping trip.

When was the sales tax holiday in Alabama?

The annual back-to-school Alabama sales tax holiday ran from 12:01 am on Friday, July 17, until midnight on Sunday, July 19.

During this time, many types of school supplies (including computers and tablets) and clothing were exempt from Alabama’s usual 4% sales tax rate. This saved shoppers $4 for every $100 spent.

What was included (and the price limits)

To qualify for the Alabama sales tax exemption, your purchases must have been under specific categories (like clothing, school supplies, books, electronics, etc.) and stayed beneath certain price thresholds.

In 2026, each category saw an inflation-adjusted pay bump due to a newly enacted state law. These amounts are indexed for inflation and are set to increase every five years.

For instance, qualifying clothing was tax-free during the Alabama sales tax holiday as long as each piece did not exceed $156 (up from $100). Computers and software had a newly raised price threshold of $1,173 per single purchase (up from $750).

Here's a quick-reference table of other qualifying items and their increased price limits during the tax holiday.

Note: For a complete list of what was included in the 2026 Alabama sales tax holiday, check out the state's Division of Revenue website (PDF).

Here's what wasn't included

Not all items in the above categories were fair game. Here are a few examples of items you still had to pay tax on during the Alabama tax-free weekend:

• Athletic gear (shin guards, shoulder pads, roller skates, athletic shoes or sports gloves).
• Jewelry, watches and hair accessories.
• Handbags and briefcases.
• Cosmetics (including makeup).
• Sunglasses, eyeglasses and contacts (prescription or nonprescription).
• Belt buckles, wallets and umbrellas.

Additionally, non-educational video games (those solely for recreation) and computer parts that were sold separately did not qualify.

Items used for "clean room apparel and equipment" were also not tax-free, including cleaning supplies, paper towels, and hand sanitizer.

Rules on online shopping & layaway

Fortunately, you didn't exactly have to brave the store crowds to take advantage of Alabama's tax-free weekend.

• Online purchases. Eligible items purchased online qualified for the tax exemption if they were ordered and paid for during the holiday window, even if the actual delivery occurred after the weekend ended.
• Layaway payments. To qualify for the tax exemption, you must have either completed a new layaway purchase (including final payment and delivery) before the holiday window closed or made the final payment on an existing layaway item during the window.

The local tax catch

While Alabama waived its 4% state sales tax during the holiday, local city and county sales taxes may still have applied. That's because Alabama municipalities weren't required to participate; they must have voted to opt in. Shoppers had to check the Alabama Department of Revenue's list of participating municipalities to see whether their city participated.

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• 11 Summer Travel Essentials That Are Totally HSA-Eligible

The processing fee that almost doubles your concert ticket or the subscription you have to jump through endless hoops to cancel — these aren't accidents. They're tactics designed to drain your wallet.

Thankfully, the tide is finally turning. New York City Mayor Zohran Mamdani recently announced a proposed major crackdown on these practices. New rules would require companies to provide up-front pricing and a "one-click" cancellation rule. And New York isn't the only place putting in restrictions.

Here is what you should know about these protections — and how to spot the traps still eating away at your budget.

What are subscription traps?

Signing up for services, from streaming to gym memberships, is super easy. However, when it comes to cancelling those services, you might have to jump through multiple hoops.

Some websites or apps redirect you to multiple pages with confusing language as part of their deliberate retention strategy, or they won't supply a link on their website, instead asking you to call their customer service number, where automated messages and customer service reps trained to help you avoid canceling services await.

This is why I recommend trying out streaming and shopping subscriptions during their free trials. Use a one-time virtual card (some credit card companies offer this feature, including Capital One and Citi). That way, if you have trouble cancelling the service when it's time to pay, you won't have to jump through all the hoops.

The price you didn't agree to: Junk fees

Another policy New York will implement is to eliminate junk and hidden fees. Junk fees are hidden extra charges tacked onto purchases.

Every year, Americans pay billions of dollars in these fees. You'll often find them imposed by ticket brokers, hotels and subscription-based services.

For example, a concert ticket might be listed at $250, but you pay around $400 due to "processing" and other fees. New York aims to combat this by forcing companies to disclose the total costs up front. While that won't eliminate the fees themselves, it alerts you to your total costs upfront, so there are no surprises.

The good news is that New York isn't the only area fighting back against these tactics.

The regulatory wave: Are other places following?

Yes, more than 30 states either have or are in the process of passing legislation to protect customers from hidden fees.

Here are several examples of what states are doing:

• California: Banned junk fees by requiring businesses to display all prices up front.
• Florida: Passed a transparency law forcing restaurants to disclose all fees (including mandatory gratuity) up front.
• Illinois: Starting on January 1, 2027, the state will ban hidden resort fees by hotels, unlisted tips imposed by restaurants and hidden processing fees for sports or concert tickets.
• Colorado: Requires fee transparency from businesses, such as landlords disclosing all mandatory monthly fees, restaurants including mandatory gratuity, and travel providers including resort fees up front.

Beyond the statewide bans, other cities are taking action, too. Seattle is exploring legislation to ban junk fees.

Their measure specifically targets fees in rental agreements, capping how much landlords charge for pet damage and banning charges for tenants who pay rent by check, use mail service or have in-unit appliances.

There are also ways to protect yourself from incurring these hidden costs.

Here's how to protect your cash from hidden charges

To ensure you aren't paying more than you should:

• Always use a credit card: It makes disputing hidden fees much easier.
• Challenge hidden fees: If a company charges a fee they didn't disclose upfront, contact them directly to dispute it.
• Know your local laws: Review your state's or city's laws to see which consumer protections you have, such as price transparency for services.
• Report deceptive practices: If you encounter a company that won't budge on hidden fees, consider filing a report with the Federal Trade Commission.
• Track your subscriptions: Use a budgeting app such as Quicken Simplifi or Tiller to review all your recurring subscriptions.
• Review your credit regularly: Services such as myFico or LifeLock by Norton alert you to credit changes and can help detect fraud early.

Ultimately, keeping yourself protected from these tactics is an ongoing thing. But doing so is well worth the work, as it can save you more of your hard-earned money.

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The third-place match of the men's World Cup is hardly a consolation prize. In fact, it's usually among the most exciting matches of the tournament, as teams play with nothing to lose, leading to higher-scoring matches.

This makes the match in Miami a must-attend experience for any soccer fan, not only because of the excitement of the World Cup, but also the diverse array of things to do and see in Miami.

The match kicks off at 5 p.m. EST in Miami Stadium in Miami Gardens on Saturday, July 18. I'll show you some of the best Hilton hotels to consider for your trip, depending on what you want to get into, along with a few suggested attractions to make your stay memorable.

Make Miami part of your World Cup vacation

Miami is one of my favorite cities. Each neighborhood has its own unique flavor and feel.

Little Havana is the perfect destination for Cuban culture, art and amazing food; Brickell is a downtown hotspot where locals hang out, and Wynwood is an artistic gem known for jaw-dropping street murals, art museums and some of the city's best breweries.

The one thing I recommend when visiting is to take your time while traveling, as traffic is a beehive, even on the weekends. The other thing to keep in mind is that Miami Stadium isn't in downtown Miami; it's north of the city, about a 20- to 25-minute drive.

Thankfully, Miami is offering free shuttles for the event with proof of ticket. Here are the shuttle pickup locations:

• Golden Glades Multimodal Transit Station: 15890 NW 7th Ave, Miami.
• Aventura Brightline Station: 19796 W Dixie Highway, Miami.
• Dr. Martin Luther King Jr. Plaza Metrorail Station: 6205 NW 27th Ave, Miami. No on-site parking is available.
• Seminole Hard Rock Hotel & Casino: 1 Seminole Way, Hollywood.

Knowing where to stay can help you plan a trip that includes the World Cup match and other attractions. Here are some suggestions based on different locales:

Close to the stadium recommendations

If you're looking for a quick trip where you get to the match quickly while enjoying time in your hotel, here are a few options to consider:

• Hilton Miami Aventura: The hotel is the perfect choice for convenience and relaxation. It features an upscale rooftop pool and quick access to Sunny Isles Beach via the afternoon shuttle.
• SERENA Hotel Aventura Miami, Tapestry Collection by Hilton: This charming boutique hotel offers a buffet breakfast, breathtaking views of the Miami skyline and is roughly 6 miles from the stadium.

Live the coastal life, Jimmy Buffet style

Meanwhile, if you're in town not only for soccer, but also want to relax and take in some rays on a beach, where you stay will matter a lot. There's Fort Lauderdale, the sleepy yet affluent suburb to the north of Miami, offering exceptional beach views, great restaurants and a quieter neighborhood vibe.

And it's the better overall beach experience compared to Miami. Here are the top stays on the coast:

• Hotel Maren Fort Lauderdale Beach, Curio Collection by Hilton - This stunning hotel offers amazing beachfront views, and you can walk to shops and restaurants. There is also a hotel shuttle to Fort Lauderdale Airport (for a fee).
• Beach House Fort Lauderdale, a Hilton Resort - If you're searching for the ultimate beach experience, look no further than this hotel. It features a wraparound deck, spa and condo-style rooms for the ultimate escape from the bustle.

Experience the local Miami vibes

If you want to experience the vibrant downtown core, here are a few places to consider:

• Hampton Inn & Suites Miami Brickell-Downtown: This hotel, nestled in downtown, has a rooftop pool, easy access to restaurants and shops and a daily hot breakfast.
• Hampton Inn & Suites Wynwood Design District: The hotel's design is a tribute to Wynwood's exceptional art culture. The hotel is among the highest-ranked in the area, with walkability to Wynwood Walls and downtown Miami.

Extend your trip with these ideas

One of the perks of Miami is being so close to unique attractions, such as:

• Take the train to Orlando: Known as the theme park capital of the world, this is a perfect family-friendly day trip, easily accessible via the Brightline high-speed rail service that connects Miami directly to Orlando.
• Head to Key Largo: A slower-paced, oceanic oasis about 60 miles from Miami. It's an ideal spot for snorkeling, scuba diving, glass-bottom boat tours and kayaking for a relaxing post-match escape.
• Explore the Everglades: Taking an airboat through the Everglades is a surreal experience, allowing you to explore and learn about the wildlife and the area.

How to choose the right hotel for your World Cup trip

As you plan your stay, it's important to consider the full cost of the trip, including transportation, parking, resort fees and meals, rather than room rates alone. Also be mindful of your hotel's cancellation policies and transportation plans, as traffic the day of the match will be very busy around the stadium.

The third-place match can be more than a one-day event: With the right home base, it can become the starting point for a family vacation, beach getaway or Florida Keys escape.

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If you're a frequent flyer, you likely have a preferred airline — and a credit card to match. These cards offer significant value, from free checked bags and intro bonuses to points that add up to free flights.

To identify the best airline credit card reward program, we asked you to rank them in an online survey for the 2026 Kiplinger's Readers' Choice awards conducted over the winter. Over 4,000 readers participated in the survey, ranking airline credit card reward programs on three factors: Customer service, most recommended and overall satisfaction.

For the third consecutive year, Southwest Airlines won the best overall award for airline credit card programs. Here are three reasons our readers recommend them, along with some recent changes Southwest made that impact your travel.

1. Tailored rewards: A Southwest card for every traveler

You can get three different Southwest credit cards. The Rapid Rewards Plus card gives you 3,000 points on your cardmember anniversary. The Southwest Rapid Rewards Premier card has a 6,000-point anniversary bonus, and the Southwest Rapid Rewards Priority Card offers a 7,500-point anniversary bonus.

On top of that, each card offers cash-back incentives (in the form of points) for purchases made with Southwest. The Priority card earns you the most, with four points per dollar spent on Southwest purchases.

It is also the quickest way to obtain A-List status. A-List status is Southwest's tier-based loyalty program that offers perks such as priority boarding, a dedicated check-in line and bonus points on flights.

To earn A-List status, fly 20 one-way routes or earn 35,000 qualifying points in a year. Cardholders earn 2,500 Tier Qualifying Points toward A-List status for every $5,000 spent.

2. The fastest route for free travel for two

The Companion Pass is among the most valuable travel benefits, as it allows you to bring a companion on your flights for free, excluding taxes and fees. Each Southwest card offers you a 10,000-point bonus every year.

One reader said, "By timing the bonus offer correctly, you can get a companion pass for almost two years - well worth the effort to concentrate spending on this card!"

This bonus is a major reason why readers cite these cards as the fastest route to free travel for two. By maximizing your Southwest purchases and using these annual boosts, you'll reach the 135,000 points needed for the pass. You can also qualify with 100 one-way flights in one calendar year.

3. Responsive service and tech that makes travel easy

One reader summed up their experience perfectly: "I have called customer service many times, and they are VERY helpful." This also correlates with a recent J.D Power airline satisfaction survey that ranked Southwest highest in customer satisfaction in the economy/basic economy section for the fifth consecutive year.

Along with customer service, having an easy-to-use app is integral if you encounter delays or cancellations. I've flown a few times with Southwest this year, and even with delays, I find changing my flights through the app a quick way to get travel back on schedule without standing in a theme park-sized line to speak with customer service.

Keep in mind too that Southwest made some pretty significant policy changes. Now, you have assigned seating like any other airline. Also gone are free checked bags. Southwest charges $35 for your first checked bag and $45 for your second. However, if you have a Southwest credit card, your first checked bag remains free.

While our readers ranked Southwest the highest airline, other airlines also made our rankings:

• Alaska Airlines
• Delta Air Line credit cards
• JetBlue credit cards

Overall, Kiplinger readers favor Southwest for its responsive customer service, diverse card offerings and bonuses that make it easier to obtain a Companion Pass. While some of the recent changes (doing away with free luggage and assigned seating) might perturb some passengers, if you have a Southwest card, your first bag will still fly for free, making the card's perks even more valuable.

Want to see how our readers ranked your favorite airline? Visit our Kiplinger Readers' Choice best airline credit card rewards programs to see our full ranking and what our readers liked about each one.

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• 2026 Kiplinger Readers' Choice Awards

When our children were little, we taught them how to cross the street, brush their teeth and say "please" and "thank you." Many people started the kids doing chores and earning an allowance. We understood that those conversations were part of raising responsible adults.

Then they turned 18.

Somewhere along the way, many parents assumed that talking about money should stop because their children were now adults. Nothing could be further from the truth.

In fact, adulthood is when the most important financial conversations begin.

The American Dream has changed

Today's young adults are navigating a financial landscape unlike any previous generation. Student loan debt, soaring housing costs, rising insurance premiums, inflation, volatile markets and an uncertain job market have changed the traditional path to financial independence.

Many are delaying marriage, homeownership and having children — not because they lack ambition, but because the economics are dramatically different.

What does this all mean? Almost 80% of baby boomers own homes vs only 26% of Generation Zers being able to or choosing that path of homeownership.

And baby boomers are trying to ease their kids' pain (and perhaps creating more pain for themselves) — about 50% of these parents are helping to offset money pressures for their adult children.

Things aren't rosy for any generation

Meanwhile, older parents are facing their own financial realities. Many are working longer than expected, caring for aging parents while helping adult children and worrying whether their retirement savings will last 30 years or more.

In fact, among Americans 65 and older, about one in five is still in the labor force. And many more have odd jobs or are gig workers.

That creates a generation caught in the middle — and a lot of silence.

Silence is not golden

Silence is expensive.

I elevated the topic of teaching kids about money in the 1980s. I have taught families the lessons of finance for decades, and one truth remains constant: Families who talk openly about finances make better decisions together. Those who avoid the subject often create misunderstandings, unrealistic expectations and emotional landmines.

The goal isn't to lecture your adult children. It's to have a conversation between equals.

Start with your own story

Many parents hide financial struggles because they want to protect their children. Others hide financial success because they don't want to create entitlement. Others carry the baggage from when they grew up that the biggest secrets in the household related to money issues.

None of these approaches helps. Adult children benefit from understanding how their parents made financial decisions, overcame setbacks and learned from mistakes.

Tell your offspring about the first house you couldn't afford. The investment that didn't work. The credit card debt you finally paid off. The promotion that changed everything. How you had to take your Social Security early to make ends meet later in life.

Money stories teach lessons that spreadsheets never can.

Be honest about your retirement

One of the biggest misconceptions adult children have is assuming Mom and Dad will always be financially available. They may quietly assume you'll help with a home down payment, pay for grandchildren's education or leave a substantial inheritance.

Those assumptions can create disappointment —or, worse, poor financial decisions — based on deceit.

A healthier conversation sounds like this: "We've worked hard to secure our retirement because we don't ever want to become a financial burden to you."

That's one of the greatest gifts parents can give.

If you plan to help your children financially, explain what that help looks like. Is it a loan? A gift? A one-time opportunity?

What are the expectations? Clarity prevents conflict.

Discuss inheritance before it's necessary

No family enjoys talking about death. But avoiding estate conversations doesn't protect anyone.

Adult children should know:

• Where important documents are located
• Who has financial and healthcare powers of attorney
• Whether there is a will or trust
• Who the executors are
• The family's overall wishes — not necessarily for every dollar, but the overall plan

Surprises after a death rarely strengthen families. Money issues and unclear expectations can tear a family apart. Do you really want that to be your legacy?

Set boundaries without guilt

Many parents continue financially rescuing adult children well into their 30s and 40s. Sometimes that help is appropriate. Sometimes it delays independence.

Before doling out the next pot of money, ask yourself: "Am I solving a temporary problem or creating a permanent dependency?"

Financial assistance should come with conversations, not conditions. Explain why you're helping, how often you're willing to help and what success looks like. Healthy boundaries strengthen relationships.

Respect your kids' financial choices

Your adult children grew up in a different economy. They may prioritize experiences over possessions, rent instead of buy or work remotely instead of climbing a traditional corporate ladder. That doesn't mean they are being financially irresponsible.

Instead of criticizing, ask questions:

• "What made you choose that?"
• "How does that fit into your long-term goals?"

Curiosity builds trust. Judgment shuts conversations down.

The best financial conversations happen long before anyone needs money. Don't wait until there's a medical emergency, job loss, divorce or estate settlement.

Instead, create a family tradition. Have a semiannual "money dinner," where you:

• Review major life changes
• Discuss family goals
• Celebrate financial wins
• Update important documents

Make money as normal to discuss as your vacation plans.

The greatest inheritance

Many parents focus on leaving wealth. I believe our greatest inheritance is wisdom. Money can be spent. But values compound.

If your children inherit confidence, sound judgment, healthy financial habits and the ability to have honest conversations about money, you've already given them something priceless.

The question isn't whether your family should talk about money.

It's whether you'll begin the conversation before life forces you to. Because the families who talk together today are often the families who stay together tomorrow.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

While anxious eyes watch oil prices and inflation indexes, the best news for savers and income investors is hiding in the bunker often called the belly of the yield curve. So far in 2026 through the start of June, two-year Treasury yields have leapt from 3.46% to 4.01%, and three-year yields from 3.53% to 4.06%.

At the same time, despite chatter about inflation pushing up interest rates at the long end, these show gentler climbs, with 30-year T-bonds crawling from 4.86% to 4.97%. This tells us traders anticipate the surge in inflation to persist through 2029, then recede toward the Federal Reserve’s 2% target.

It also means savers and short-term-bond collectors have it better than long-term-bond investors. If yields climb, risk to principal and likely lost opportunities do not justify locking in 5% or 5.25% for a decade or longer. (Prices and yields move in opposite directions.) No wonder inflows to short and ultra-short bond funds are soaring. Where to best position your money on the yield curve is rarely so clear-cut. Read on for tips on minimizing costs and to see opportunities for extra marginal yield.

The easiest path to higher yields

The simplest and least costly approach is to accumulate short notes and bonds directly, either using the Treasury Direct website or a brokerage account. This is a freebie if you have cash reposing in, say, a Fidelity brokerage money market account currently paying 3.33%.

Switching to two-year 4.0% T-notes means for every $10,000, you see an extra $67 a year — enough to notice — assuming you keep the principal until maturity. There are also my favorite full-faith-and-credit federal agency notes, such as the Federal National Mortgage Association’s 4.3% notes due in May 2028. Unless you will need the money before maturity, this is sweet.

Banks usually offer a tad more on certificates of deposit, and there is also no cost.

Shop at a bank-rate site, or see if your brokerage posts CD rates noticeably higher than the Treasury pays. Fidelity, with the 3.33% money fund, lists 3.90% for various 90-day CDs and slightly upward of 4% for a ladder of six-, 12-, 18- and 24-month bank deposits. I am not a fan of longer-dated CDs because they do not pay suitably higher rates.

You can also shop for and compare the best CD rates using this Bankrate tool:

Tactical ways to earn higher yields

To angle for still higher income with equally short maturities, you will bear some expenses, but they can be trivial. I generally endorse short-dated defined-maturity corporate bond funds; Vanguard’s new suite of these charges 0.08% in fees and includes Vanguard Target Maturity 2028 Corporate Bond (symbol VBCB), an exchange-traded fund whose portfolio is valued to yield 4.50% to maturity; the fund terminates in December 2028.

That is long enough for a defined-maturity fund. The yield to maturity on a similar Vanguard fund slated to end in 2035 is just 5.25%.

Another higher-yield idea in the belly is a high-yield bond fund with a pile of bonds due to mature in a couple of years. This is a face-off between the established PGIM Short Duration High Yield ETF (PSH) and newcomer Columbia Short Duration High Yield ETF (HYSD).

Both are actively managed (which matters in high yield), charge low enough expenses (between 0.4% and 0.5%) and distribute close to 6% — more than enough to absorb the cost. There is little to gain now entering a long-term high-yield fund, though if you hold any with embedded unrealized gains, leave it be. You have done extremely well.

Again, if I have written zero that you do not already know, at least accept my affirmation that when every half percentage point matters, you can get it safely and effortlessly and at minimal cost. Banks and fund companies are not always your friends, but in the area of inexpensive short-term cash alternatives, they are worthy partners.

A financial advisor can help you build a strategy for saving, investing and reaching your long-term goals. Use the tool below to find an adviser who can help.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here.

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If you're looking for a more affordable cell phone plan, Ultra Mobile's back-to-school promotion could help you save.

Ultra Mobile is a prepaid wireless provider owned by T-Mobile, the same company that owns Mint Mobile. It offers lower-cost plans with features including unlimited nationwide talk and global text, mobile hotspot access and Wi-Fi calling.

There are no annual contracts, and Ultra Mobile runs on T-Mobile's nationwide network. That combination of flexibility, coverage and lower prices could make it worth considering for anyone looking to cut their monthly cell phone costs.

What's included in the back-to-school promotion?

For a limited time, Ultra Mobile is discounting select six- and 12-month prepaid plans. Customers can save 15% on eligible six-month plans or 30% on eligible 12-month plans. The offer applies to the 4GB, 8GB, 12GB, 24GB, Unlimited and Unlimited+ plans.

For example, the 4GB 12-month plan normally costs the equivalent of $13 per month. With the 30% discount, the effective monthly cost drops to about $9.10, or $109.20 for the full year before taxes and fees.

Keep in mind that you must pay for the entire plan upfront to get the promotional price. For the discounted 4GB annual plan, a $15.90 recovery fee and $2.24 in taxes and surcharges bring the total upfront cost to around $127.34.

Who should consider switching?

Ultra Mobile may be an ideal solution for seniors or light data users who need a phone without the extra cost or features that come with contract cell phone plans. These prepaid wireless plans may be suitable for kids heading to school or for someone looking for an affordable second phone line.

Since the plans are competitively priced, they could be an appealing option to anyone who has a contract plan and who is trying to save on their phone bill. Ultra Mobile requires no credit check, so customers with poor credit scores who aren’t able to get approved for a traditional mobile plan might consider this carrier.

What are the trade-offs?

Ultra Mobile’s plans may help customers save money, but there are some trade-offs that come with the lower price point.

• Prepaid plans: Most contract mobile plans are postpaid, meaning that you pay you phone bill at the end of each month. Ultra Mobile’s plans are prepaid, and you pay for multiple months upfront. To get some of the lowest pricing, you might have to pay for 12 months upfront, so you’ll need to be able to cover that initial cost.
• Data caps: Some of Ultra Mobile’s most affordable plans only include limited data; once the data is used, your phone will slow down to 2G speeds until your next billing cycle. Anyone who uses significant amounts of data may want to consider one of the unlimited data plans, which start at $23.80 per month.
• Customer support: Ultra Mobile offers an online chat feature, or you can call the Customer Care team from 6:00 am through 6:00 pm PST, seven days a week. Some in-store support is available, but you’ll need to use the store locator to see if a store is available near you.
• Deprioritization: During periods of network congestion, T-Mobile may deprioritize Ultra Mobile customers' data. This means T-Mobile customers may receive faster data speeds, while Ultra Mobile customers could experience slower speeds.

How Ultra compares with other budget carriers

Ultra Mobile is one of several budget mobile carriers. Here’s how the different options stack up.

Ultra Mobile's current promotion makes its already low prices even more affordable, but the carrier will not be the right fit for everyone. Before switching, consider how much data you use, whether perks such as streaming discounts or unlimited high-speed data matter to you and whether you are comfortable with limited in-person customer support.

Ultra Mobile could be a solid choice for light data users or parents looking for an affordable phone plan for a child heading back to school. If the plans fit your needs, the back-to-school promotion offers an opportunity to lock in a lower price and save on wireless service.

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To help you understand the trends surrounding business and technology and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts. (Get a free issue of The Kiplinger Letter or subscribe.) You'll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here's the latest…

Memory chips traditionally see booms and busts. Strong demand causes prices to rise, then new supply hits the market and prices fall. Rinse and repeat.

That cycle has been upended, at least for now. Massive demand from the artificial intelligence frenzy has created severe shortages and prolonged price hikes. Top memory makers Micron, Samsung and SK Hynix have seen revenue, profits and stock prices explode.

Is the memory market different this time?

Many analysts and investors are betting that the market has fundamentally changed. In a recent investing presentation, Micron seemed to reflect the sentiment, saying that "the memory industry has been structurally transformed by the proliferation of AI."

But it’s not likely the AI boom will end memory’s cyclical nature. "The core tenet of cycles is still very much part of the story," says William Kerwin, an analyst at Morningstar. "The key question for investors is when this cycle peaks and how far it falls thereafter," Kerwin wrote in a recent Micron research note.

Kerwin says that memory makers still don’t want to overbuild because when you have oversupply, pricing crashes. Companies also don’t want idle capacity at hugely expensive chip plants. "Demand can change on a dime," he says.

Chipmakers have big expansion plans underway, but new factories take a long time to build, and "no major greenfield additions across the industry are expected to matter before 2028," according to a recent report by market research firm Omdia.

"Major memory manufacturers have internalized the lessons of previous cycles," said Soo Kyoum Kim, an analyst at IDC, in a recent article. "They are exercising deliberate capacity discipline" by prioritizing advanced AI products and not rushing to fill every order.

However, this unprecedented upswing will last years. A downturn is expected in 2029, according to Kerwin, when more supply becomes available from major new manufacturing plants.

Memory chip sales have absolutely skyrocketed

Global memory chip revenue is forecast to hit about $803 billion this year, according to World Semiconductor Trade Statistics. For perspective, that’s about the same as the entire semiconductor market in 2025, which was $796 billion.

This year, memory revenue will nearly double the value of all logic chips, a category that includes chips from Nvidia, Intel, Broadcom, Qualcomm, Apple and many others. Memory chip revenue is a driving force behind overall semiconductor revenue being set to reach an astronomical $1.5 trillion this year and nearly $2 trillion in 2027.

Micron’s recent third-quarter results highlight the trend. The company saw quarterly revenue explode 346% year-over-year to $41.5 billion. In 2026, revenue will be nearly $140 billion, with sales set to hit $340 billion in 2027, according to a Morningstar forecast. Back in in 2023, the U.S. memory chipmaker had $16 billion in revenue.

Chipmakers still want to avoid a painful crash and will continue to exercise discipline over supply, ready to respond if memory prices sink. Another recent tactic is using long-term contracts to smooth the ups and downs of demand. Micron inked 16 multi-year deals worth $22 billion to start, for example.

Even in a downturn, global memory revenue will remain at a far higher level because of AI demand. Prices will be higher than the pre-AI boom, too. "We're not making a call that AI demand is going to slow down," says Kerwin. Rather, the bearish call is that a glut of supply brings prices back down.

This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.

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Each year, Kiplinger surveys our readers to find out what their favorite financial products are for the annual Kiplinger Readers' Choice Awards. For this year's awards, more than 4,200 readers rated products across 13 categories — including their favorite cash-back credit cards.

One of the most recommended cash-back credit cards by Kiplinger readers was the Costco Anywhere Visa by Citi. Readers praised the generous rewards and the card's simplicity, with one reader telling Kiplinger, "This card has always offered a great rewards system with multiple cash-back tiers, appropriately high credit limits and easy fraud alerts and resolution."

I'm not surprised the card earned such high praise from our readers. It's also one of my favorite (and most swiped) credit cards in my rewards card mix. I earn hundreds in cash back every year just by swiping this card when I'm buying the gas or groceries I need to pay for one way or the other anyway. Here are three things that make the credit card worth adding to your wallet.

1. You can stack cash back rewards on top of your existing discounts

By far, my favorite thing about this credit card is that I get to stack the cash back earned by using the card on top of the discounts I already get as a Costco member. When gas prices were soaring over the past few months, I consistently paid well below the national average price per gallon because the Costco gas station near me was always about 15 cents cheaper than nearby stations (and I live in a state that temporarily suspended the gas tax).

Since this card offers 5% cash back on Costco gas, I earn a couple of bucks per tank each time I fill up. Between the couple of bucks in savings on each tank and that cash back, Costco (and this credit card) helped ease the strain of rising fuel prices on my wallet.

I also appreciate the 2% I earn inside the store itself. Since I can't use my American Express that earns 6% on groceries at Costco – the warehouse club accepts Visa only — it's the next best option. I've even set up this credit card as my payment method for the annual membership fee, so I'm earning some cash back on that, too.

2. There's no annual fee

For a credit card with a rewards program as generous as the one you get with the Costco Anywhere Visa by Citi, you'd expect to pay an annual fee. But this card has none. The catch is that you do need to be a Costco member to get this cash back credit card.

If you already have a membership, there's absolutely no reason not to have this card. Even if you only ever use it on Costco gas and groceries, you're still coming out ahead. Having this credit card is what makes my Costco membership worth it for my smaller household. Without the hundreds in cash back I earn every year, I'd be hesitant about keeping the membership.

If you aren't a member yet, pairing the everyday savings with the cash-back perks of this card makes the basic Costco Gold Star membership more than worth the $65 annual fee.

3. You get better cash back rewards at other gas stations, too

Maybe you don't live close enough to a Costco location to make that your primary gas station. Even then, you get 4% at most other gas stations.

My next best credit card for everyday spending (the American Express Blue Cash Preferred) tops out at 3% back on gas. Even when I'm on a road trip or just too far from my regular Costco station, I'm still swiping my Costco card to pay for gas.

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To help you understand what is going on in the economy and beyond, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You'll get all the latest news first by subscribing, but we publish many (but not all) of our forecasts a few days afterward online. Here’s the latest...

Car sales will generally hold up this year. But affordability is a growing buyer concern. Here’s what to know if you’re in the market.

Dealerships will remain relatively busy, with about 16 million cars and light trucks sold this year, in line with 2025. Despite sticker shock, shoppers are still finding ways to afford a new vehicle. While car prices aren’t rising as swiftly now, with the average transaction price at $50,000 lately, financing and car insurance costs have surged. On average, insurance premiums have risen by 54% in the past five years. Even for buyers with good credit, auto loan rates are up by a percentage point. Folks with lower credit scores face significantly higher rates.

Borrowers have been stretching out their car loans to achieve a bearable monthly payment, even though that means paying more in interest during the loan. A third of loans to finance new cars last six-plus years.

There may not be many deals to be had now. But there are ways to save, especially for folks who are flexible on the make, model or vehicle options.

• If you can live with the base model of the car you want, do it. The difference between the cheapest and priciest trims of a given vehicle can be hefty. For example, most buyers of Toyota’s ever-popular RAV4 opt for the upscale XSE and Limited trims instead of the base LE, and pay $9,400 to $11,400 more for the added amenities.
• Note which brands have more or fewer cars in stock. Toyota and Honda have the leanest inventories, which generally means less room to bargain. Stellantis, the parent company of Jeep, RAM, Dodge and Chrysler, has the most cars on dealer lots now.
• Hybrids continue to sell well, now making up 14% of total sales. Buyers who target nonhybrid versions of a given model may face less pressure to pay up. You may have better options in the used-car market, given the high level of leasing in recent years.
• Low-mileage vehicles coming off lease can be good deals, and offer good warranties if sold through manufacturers’ certified pre-owned programs. Depreciation tends to be higher on fancier trims of used cars…good for second owners.

Automakers continue to lean on pickup trucks and SUVs as buyers’ interest in sedans continues to wane. Tesla just axed its flagship Model S sedan. Cadillac will soon have just one sedan in its lineup. Ditto for Acura. Coupes are even rarer.

Also note the budding return of small pickups. With full-size trucks so big, and even midsize models inflating in size, many buyers pining for compact work trucks who have felt left out are starting to get more options. Ford’s compact Maverick pickup has been a strong seller. Start-up Slate Auto is now taking orders for its two-door truck, which is electric, smaller than a Corolla, and starts at $24,950. Ford is readying a rival to the Slate, also electric, and Toyota is rumored to be mulling a small hybrid pickup.

This forecast first appeared in The Kiplinger Letter, which has been running since 1923 and is a collection of concise weekly forecasts on business and economic trends, as well as what to expect from Washington, to help you understand what’s coming up to make the most of your investments and your money. Subscribe to The Kiplinger Letter.

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The FIFA World Cup is well underway, with quarterfinals going on this weekend, but for some fans, excitement ended in frustration.

The games started June 11 and end July 19. Those dates have been locked in for millions of World Cup fans around the world who've been waiting to watch the games for the last four years. For people living in the U.S., this tournament is especially exciting as we are a host nation, making some matches right next door for fans like Majda Praiz. Praiz is Croatian and has been living in Austin, Texas, with her husband for the last five years. When the Croatia vs England game was scheduled to take place at the Dallas Stadium, just three hours away, they knew it was a once-in-a-lifetime opportunity.

"This is the first time they'll have a World Cup so close to us; let's just splurge. Let's just go buy these tickets," Praiz told Kiplinger. Normally, Praiz and her husband would spend their summers going back to Croatia, but this year they wanted to spend their money on seeing Croatia play in the World Cup.

Planning ahead to beat expensive ticket prices, Praiz and her husband bought two tickets last December from StubHub for $1,671. Though the tickets were expensive, they thought it was worth every penny because they would most likely never get the opportunity to see Croatia play in the U.S. again.

"Everything looked normal, except that we did not have seat numbers. When we reached out, StubHub said something about the seller, FIFA, I guess, not releasing the tickets yet, and that we would get them whenever they were released," Praiz said. She added that she "didn't really question it because we've used StubHub before for almost every event and never had any issues."

The weekend before the match, Praiz received an email stating the seller could not deliver the original tickets, and her immediate reaction was "panic."

"They offered to refund the money, but it's not about that. We're talking about a world-level event. This is not like a concert downtown. People travel from all over the world to get to the games, spending thousands on flights and hotels that airlines won't refund," said Praiz.

With only three days left before the match, ticket prices had skyrocketed. Facing the risk of missing the game entirely, Praiz and her husband decided to request a full refund from StubHub and bought official tickets directly through FIFA. The new official FIFA World Cup tickets cost them $2,500 for the exact same category level, nearly $1,000 more than their original resale purchase. Total expenses, including gas and food, came to roughly $3,000.

"What if we flew in for the game and had a hotel and stuff? That's extra thousands of dollars that no one is going to refund to you because you lost your tickets," said Praiz. "But the tickets are like $50,000 now. It's ridiculous. That's for the final, but still that's what worries me."

What to know about resale markets

Praiz and her husband aren't alone when it comes to losing or buying fake tickets before an event.

According to LegalShield, "35% of consumers have experienced grievances tied to event tickets." About a third of those consumers said they had a "verified" ticket rejected at the gate as fraudulent, while 68% reported buying so-called "ghost tickets," when the seller never had the tickets in the first place.

When buying from third-party platforms, it is important to understand how these secondhand marketplaces function. In addition to StubHub, you can buy tickets to events from resellers on sites including SeatGeak, Ticketmaster and Vivid Seats. On a platform like Ticketmaster, which also sells tickets directly from event organizers, there usually is an indication that the ticket you're looking at is a direct or resale purchase.

As a secondhand marketplace, StubHub does not own the tickets; it essentially just offers a place for people to buy and sell from each other. Its legal terms state: "While we may help facilitate the resolution of disputes between Buyer and Seller and provide the FanProtect Guarantee, we have no control over and do not guarantee the existence, quality, safety or legality of the Tickets."

That doesn't mean people can necessarily list anything on a secondhand marketplace; there are often guardrails in place to prevent fraud and fake sales. If sellers are found to have faked tickets, they're typically penalized by the marketplace. (StubHub's legal terms state if you list an "invalid ticket," "we will charge your payment method an amount equal to the greater of (i) 100% of the price of the ticket(s) sold or (ii) the full amount incurred by us to remedy the issue for the buyer.")

For buyers, another critical takeaway is understanding that fulfillment issues on secondary markets often stem from broader logistical and platform challenges rather than the tickets themselves. It's also important to remember that the vast majority of resold tickets typically are real, since the companies work to filter out bad apples.

When planning for high-demand events, you should look into the protection policies offered by the resale platform. For example, StubHub has FanProtect Guarantee, which is how Praiz got a full refund on her original purchase.

A StubHub spokesperson told Kiplinger: "StubHub was founded with the mission of making buying tickets easier and safer, and for 26 years we've helped millions of fans access the events they love. The World Cup is no exception, but even a single bad experience is deeply disappointing for fans and for us. That's why, in the rare instance that problems arise, our FanProtect Guarantee provides replacement tickets or a full refund — and why we are working tirelessly to resolve ticket transfer issues and get every fan into their match."

Ticket scams to look out for

Many high-demand events, like the World Cup or Taylor Swift's Eras Tour, have left fans sitting not in the stands, but outside the stadium with their "ghost tickets." Sometimes this is due to ticket transfer problems on legitimate secondhand markets, but there are also sophisticated scams to look out for with big events.

The FBI's Internet Crime Complaint Center issued a public service announcement warning that cybercriminals are spoofing FIFA websites, using fake pages to steal personal information and sell bogus tickets and hospitality packages. As fans continue to look for bargain tickets to see the finals, know that the safest place to purchase real tickets is through FIFA's official website.

Though Croatia lost the match, Praiz described standing in the stadium and hearing the national anthem as an incredibly proud, emotional, once-in-a-lifetime experience. Even so, she was shaken by her experience with the tickets. She hopes that by sharing her story, other people will know it's a possibility.

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Many families view the SUV as a status symbol of success parked in the driveway. But that badge of success might be among the most expensive financial decisions you make this decade.

Buying a vehicle is one of your largest household expenses, yet too many drivers prioritize aesthetics above economics. While price and passenger capacity matter, a surprising trend has emerged at dealerships: Shoppers are ignoring affordable minivans in favor of pricier SUVs.

This represents the "SUV tax," the total cost of ownership of choosing a lifestyle badge such as an SUV over a more affordable vehicle. I'll break down the opportunity cost between the two vehicles, explain how every extra dollar spent on a car isn't working for your future and show how the "mom car" of the 90s might be your smartest financial move.

Why are people choosing SUVs more?

Growing up, we had a minivan, the "mom car" of the 90s. It wasn't pretty to look at, but it was practical, provided ample room for growing families and was a staple of family road trips. Going from a cramped sedan to a roomy minivan not only made 12-hour car trips more fun, but it made them more bearable for all involved.

Then, things changed in the 2000s. Those four-wheeled tugboats were replaced by vehicles of similar size delivering more visually appealing designs and higher profiles. If minivans were viewed as "you're settling," then SUVs were more of a "you made it" statement.

This sentiment is still reflected today. In a survey conducted by Bumper, respondents were asked what their perfect vehicle would be, and 63% pictured an SUV. A sedan came in second at 19%, while a minivan trailed the pack at 13%.

Yet, this is where things become interesting: In that same study, the top three things car buyers look for in a vehicle are passenger seating capacity, fuel economy and price. This means buyers are looking at practical features that can save them money now and down the road, something minivans do much better than SUVs.

Comparing opportunity cost between minivans and SUVs

Minivans are often more affordable and offer more space for passengers and cargo than SUVs, per Kelley Blue Book. Considering that price and passenger capacity are two of the most important factors car buyers prioritize, it shows that minivans can be smarter buys.

Let's break down the costs. The gap between what you would pay for a minivan and an SUV isn't substantial for base-level models. To demonstrate, the 2026 Toyota Sienna is $40,820, while the 2026 Honda Pilot is $42,395. SUVs come with more trim options, which can widen the financial gap.

Here's a breakdown of how SUVs and minivans compare on metrics car buyers care about:

*Averages calculated from the top 5 models in each segment. Sources: KBB, Edmunds, TrueCar, CarFax, Autoblog and MoparInsiders, with the table provided by Bumper.

On top of this, minivans aren't as expensive to insure. Why? Because they have a lower center of gravity, reducing their rollover risk. They also lack some of the expensive off-road features some SUVs offer, and their lower overall price can keep insurance costs reasonably affordable.

Another thing to consider in ownership costs is repair bills. This again is another edge to minivans. Minivans are often cheaper to fix because many are built on passenger car platforms. With more parts available, it's cheaper to make fixes.

Alternatively, many SUVs feature complex drivetrain and suspension systems. This can result in higher repair bills and more frequent maintenance.

These differences in maintenance and insurance costs might seem minor on a month-to-month basis. Yet, they collectively form the basis of a gradual, much larger financial shift. By capturing these savings, you move from simply managing costs to building wealth.

A small change yields big results

The "SUV" tax isn't just the sticker price you pay at the dealership; it's the opportunity cost. To illustrate, if you save $5,000 by choosing a minivan and invest that difference in an S&P 500 index fund with an average 7% annual return, you would have almost $10,000 in additional retirement savings after 10 years.

Over time, this can be one small decision that has a much greater impact on achieving your savings and retirement goals more quickly. It might not be as pretty as a sportier SUV, but you'll have the satisfaction of knowing your future self will thank you for that purchase.

Before you choose either option, make sure to shop for car insurance to see how much your new ride will cost you. Use this Bankrate tool for a faster rate comparison:

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Welcome to Kiplinger's My First $1 Million series, in which we hear from people who have made $1 million.

They're sharing how they did it and what they're doing with it.

This time, we hear from a single 51-year-old retired associate professor of surgery who lives in North Carolina. She reports that her salary started at $210,000 and was $530,000 when she was forced to retire because of health issues.

See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.)

Each profile features one person or couple, who will always be completely anonymous to readers, answering questions to help our readers learn from their experience.

These features are intended to provide a window into how different people build their savings — they're not intended to provide financial advice.

To learn what these millionaires have taught us, check out the articles 5 Key Insights We Learned From 50 Millionaires and 5 Things 50 Millionaires Wish They'd Known Before They Retired.

And to hear more about My First $1 Million, you can check out this podcast with bestselling author and tax attorney Toby Mathis:

The Basics

How did you make your first $1 million?

I grew up in a lower-middle-class family and had to pay for my own education, so I went to schools that would pay at least partially for me to attend. I had less debt because of that, but still had more than I was comfortable with by the time I finished medical school.

Residency paid a pittance, but I found a cheap place to live, cooked my own meals and managed to fully fund my retirement account each year for the first two.

Then 9/11 happened and wiped out my accounts. I was so upset that I stopped contributing to them for the next two years. I didn't pull out what was there, so it all recovered, but I missed out on all those gains by not adding more.

I worked extra shifts at a nearby hospital to double my resident income for the last two years. Then I did a year of fellowship, also low pay and in a high-cost-of-living area, but I lived as frugally as I could and saved as much as I could.

My first attending salary was well below average, but as a woman in surgery, I was supposed to take what they gave me, so I did. I put a quarter of my salary into retirement accounts, which I could because I was an independent contractor, and used the rest to buy a house and a new car.

I built up cash savings, but never thought to invest it, out of fear that I'd lose it too easily.

Then I changed jobs and got sick within a year of doing so. I spent the next year recovering from four surgeries, only able to work in a limited capacity, and had my salary reduced as a result.

I got better, but I knew that I had to change some things. I stopped buying so much stuff I didn't need, changed jobs again to boost my pay by $200,000 to market rate and made a point of saving more than half of my earnings.

Then, in January 2015, I finally took the plunge and started a brokerage account. I put my aggressive savings to work there and hit my first million, between all the retirement accounts and the brokerage, after a year and a half or so.

What are you doing with the money?

I did absolutely nothing, just left it to keep growing in investments. I was still worried about not having my career for much longer. And I was right to worry — I had to medically retire at age 44 because of more complications from three more surgeries.

By then, my savings had grown to about $2 million, and I was terrified that it still wouldn't be enough for such a long (forced) retirement.

The Fun Stuff

Did you do anything to celebrate?

No. I think I was too busy still worrying about my health.

What is the best part of making $1 million?

The momentum it gives your next million. The first million feels the hardest, because it requires a lot of savings and discipline. After that, it just keeps going on its own, as long as it's invested reasonably.

Did your life change?

Yes, because it meant that even when I couldn't work, the money could keep on working. It gave me security, a safety net.

How much more would it take for you to change the way you live?

This is a question I ask myself regularly. I grew up on a routine regimen of delayed gratification, necessitated by family circumstances. If I wanted something, I had to "save up" for it, and I had to forgo something else. It was a deprivation mindset.

I see now that, while I was fine with it at the time, I missed out on a lot of amazing experiences and travel — things I can't make up for now because of my health.

I let myself spend more freely now than I used to, but only up to a limit.

I still can't fly business class and feel OK with it, though it would make a huge difference to my comfort when flying, given my medical issues. I think it would take having $10 million to make that change.

$1 million is not all that much in this world, in the sense of it not being enough to radically change one's life, unless you had nothing before.

But $10 million throws off more than enough to live on without touching the principal, and I think that's what real wealth probably means. A 4% withdrawal would be $400,000, as opposed to $40,000 for $1 million. So, eight figures instead of seven. I could change for that kind of cushion.

Did you retire early?

I had to retire at 44 because of medical issues. I didn't want to; I loved my work, and if my body could take it, I would gladly have continued until at least 60.

How do you define being wealthy?

When I was working, I used to tell myself that I'd know I was "wealthy" when I felt no hesitation paying to fly business or first class.

That day has never come, but maybe it would have if I were still making the kind of money I used to. I don't feel I have that kind of leeway now.

But I am also no longer as scared of running out of money, despite my prolonged retirement, so that is wealthiness of a kind.

Maybe "wealthy" is when I can live off the interest and dividends of my money, without touching the principal. I'm not there yet.

Looking Back

Anything you would do differently?

I'd have started investing earlier, instead of just saving. And I'd have negotiated my salary from the start, instead of only doing that after I was afraid of a shortened career. Negotiating got me a boost that took me to that first million faster.

I'd also have spent a lot less in the early years, if I had known then what I do now, and wouldn't have bought a bigger home than I needed.

I'd have more discipline from the start about spending.

What advice would you give to your younger self?

It seems far away when you're a student for so long, in debt while your friends are already working in good careers, making real money, while you are nowhere close. But you'll get there, if you just stay frugal a bit longer.

Did you work with a financial adviser?

When I first started my brokerage account, I put the money into a managed portfolio run by (a firm that) had a guarantee of your fee back after a year if you weren't happy. They didn't even beat the S&P 500 in my first year, so I left and got my fee refunded.

I did much better on my own, with leaving things in index funds and just continuing to contribute steadily.

I haven't been willing to seek out an adviser after that.

Did anyone help you early on?

My dad, in a way. Mostly, he was an example of what not to do. He lived in fear for years, didn't invest because he was afraid to lose.

He was the one who believed in saving every penny in a bank for the meager interest. It took him even longer than it took me to risk investing on his own, but he has embraced it and done well for himself, starting from a low salary and never even cracking six figures, despite having a PhD. He started investing seriously 25 years ago.

But he never taught us to do any of that — my sister and I had to figure it all out for ourselves and pushed ourselves to do it far earlier than he did.

Looking Ahead

Plans for your next $1 million?

I've passed the next already. Again, the money is doing it on its own. I need it for my long-term future, because my retirement is so much longer than expected.

Any advice for others trying to make their first $1 million?

For some, it's slow and steady. For others, like me, it had to happen quickly because I was running out of time in which to earn.

Either way, the secret to getting there is discipline. Steady, regular contributions, whatever you can afford.

Pay yourself first. Instead of saving "what's left over" at the end of a paycheck, count a definite amount from the start of each check and directly deposit it into savings or a brokerage account. Invest that money right away — automate it.

It is better if you're not looking at it, or the numbers, too closely for a while. When you do after several months, it will be a nice surprise how much closer you are to the goal.

Do you have an estate plan?

Yes. A revocable trust and will, plus DNR, etc.

Revocable trust because I'm single, and I want to make it easy for my family to inherit my home and be able to pay for it from my accounts.

Will, because after two separate near-death experiences, I needed to make sure someone had custody of my dog in the event of my death. I wanted that person to have money for her care, but also for themselves.

And I wanted to divide up my valuable smaller possessions, ensuring they'd go to friends and family who would appreciate them.

What do you wish you'd known …

When you first started saving? That banks are not places to earn money. There are so many better uses of your money than a savings account. It took me way too long to be brave enough to go elsewhere with my funds.

When you first started investing? That it's scary, but it's also kind of simple. Don't try to be an expert stock picker. Just let the rising tide lift your boat (index funds, ETFs).

I do wish I had paid more attention to the tax consequences of different types of investments early on so I would have bought them in the correct accounts.

And I wish I had known more about investing my early retirement accounts myself. I only started doing all that after I converted the workplace accounts to IRAs upon retirement.

Also, I wish I had understood account fees more clearly before choosing certain investment products.

When you first started working with a financial professional? Men think they know how to invest. Women think they don't. The truth is, no one is all that great at it! Luck matters as much as research.

When you first retired? That I really would be OK. I was absolutely terrified of ending up destitute or having to depend on my parents, who didn't have much themselves.

If you have made $1 million or more and would like to be anonymously featured in a future My First $1 Million profile, please fill out and submit this Google Form or send an email to MyFirstMillion@futurenet.com to receive the questions. We welcome all stories that add up to $1 million or more in your accounts, although we will use discretion in which stories we choose to publish, to ensure we share a diversity of experiences. We also might want to verify that you really do have $1 million. Your answers may be edited for clarity.

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Money usually goes off track slowly, with a few ignored expenses here and some delayed decisions there.

But one financial reset each month can help you build a stronger financial position over the course of a year. I'm a financial professional with 10-plus years of experience, and this guide shows you how — and you don't have to start the process in January.

Month 1: Set financial goals and rebuild your budget

Start with measurable goals for the year.

Then rebuild your budget. It will work better when it accounts for real life instead of ideal behavior, so pull up the last three months' worth of bank and credit card statements.

This is usually where the surprises show up — such as deliveries, annual subscription renewals and more small purchases than you think — and it will show you where you can cut back.

Don't forget to plan for irregular expenses, such as insurance premiums, holidays, travel, car maintenance and school fees.

Month 2: Review your cash buffer

Look honestly at your emergency fund.

Three to six months of essential expenses is the common benchmark, but that range changes depending on how stable your income is.

If you start this process in January, then February is early enough to fix problems before tax season turns into a scramble.

Gather everything in one place first: W-2s, 1099s, mortgage interest statements, HSA records, donation receipts and investment documents.

Check your withholding.

A large refund feels good until you realize you essentially gave the government an interest-free loan for 12 months. A surprise tax bill feels worse. Adjusting withholding now is easier than fixing it next April.

And if a refund is coming, decide where it goes before it disappears into random spending.

Month 3: Attack expensive debt

This is the month to map everything out properly: Balances, rates, minimum payments, promotional periods and variable-rate exposure.

Stack small changes together:

• Negotiate lower rates
• Use balance transfers carefully
• Redirect subscription savings

The important part is reducing principal consistently. Minimum payments alone keep people stuck for years.

Month 4: Make money conversations normal

Pick one area and learn about it properly, whether it's investing basics, credit scores, insurance, taxes or compound interest. Then bring the household into it.

Conrad Wang, managing director of EnableU, works with families navigating long-term care and support planning, where financial conversations are often delayed until stress forces them to happen.

"The households that usually cope better financially are the ones having practical conversations early (around) what support exists, what recurring costs look like, and what happens if circumstances change," he notes.

Month 5: Clean up spending habits

Start with recurring charges, such as streaming services.

You did this in the first month, but you've probably stacked up a few subscriptions by now. This step helps with that.

The small operational habits matter, too, like meal planning a couple of nights each week. Saving an extra $100 or $200 a month changes things over a year.

If you cut $80 from a recurring expense, move that exact $80 automatically into savings or investments before it gets absorbed elsewhere.

Month 6: Financial check-in

This is where you stop and assess whether the past five months have helped you to move in the right direction.

Sometimes the answer is uncomfortable. But it's better to adjust now than pretend everything is fine at the end of the 12-month process.

If you started in January, then this is when bonuses, freelance income, investment gains and insurance changes can start affecting finances in ways people miss. Taxes can get messy at the midyear point if income changes and withholding does not adjust with it.

While you are reviewing accounts, check your Social Security earnings record, too. Errors are uncommon, but fixing them decades later is much harder.

Month 7: Review investments and rebalance risk

People often discover their allocation no longer matches their actual risk tolerance. This is where rebalancing comes in.

Gregor Emmian, deputy chief digital growth officer of trading app Rise, says people often mistake market movement for strategy: "One of the easiest ways investors drift into unnecessary risk is by letting a strong market convince them they had a plan all along. We see people become massively overweight in a single asset class without noticing because the gains feel good."

Look at your portfolio as a whole. If one category has become disproportionately large, trim it and redistribute intentionally.

Month 8: Review insurance before you need it

Most people set policies once and never revisit them, even after major life changes.

Review everything:

• Health insurance
• Auto and home coverage
• Disability insurance
• Life insurance beneficiaries
• Retirement account beneficiaries

Disability coverage gets ignored far too often. For many households, future earning power is the largest asset they actually have.

And update beneficiaries carefully. Those designations often override what is written in a will.

Month 9: Increase income

Now that you've done the previous eight steps, it's a good time to revisit your compensation.

If a raise is not possible, negotiate for something else useful: Training, flexibility, title progression or a documented path toward promotion.

Outside traditional employment, additional income streams can help accelerate financial goals faster than minor budgeting tweaks. Even temporary income boosts can reduce the time it takes to pay off debt.

Month 10: Handle estate planning before it becomes urgent

Avoiding estate planning creates problems for the people left to handle everything later.

At a minimum, most adults should have:

• A will
• Durable power of attorney
• Healthcare proxy
• Updated beneficiaries

If children are involved, guardian designations matter, too.

Month 11: Make giving intentional

November is usually when people start thinking about charitable giving, but it works better when it is planned instead of reactive.

For people who itemize deductions, donating appreciated securities creates better tax outcomes than donating cash directly.

The important part is whether your spending matches your values and deciding what money can support beyond consumption.

Month 12: Celebrate your wins

Take a net worth snapshot and celebrate your wins. Maybe you paid off a credit card balance that had followed you for years. Maybe you finally built a cash buffer.

Financial improvement can feel repetitive. Slightly boring, even. Then one day you look back and realize there's less pressure than there used to be.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.

The June Consumer Price Index (CPI) report is a classic head-fake for investors. Indeed, the latest inflation data from the Bureau of Labor Statistics gave market participants something they haven't witnessed in quite a while: a negative month-over-month headline inflation print.

According to the BLS, headline inflation fell 0.4% from May to June, marking the biggest one-month decline since April 2020. This was larger than the 0.2% drop economists expected. Year over year, the June CPI was up 3.5%, better than economists' estimate for a 3.8% rise.

Look past the headline, however, and the reality of the inflation environment is far less encouraging.

To understand June's data, we have to look back at the scorcher we saw in May. Headline CPI surged 0.5% for the month and a blistering 4.2% over the prior 12 months. That reading, which followed a hot 3.8% annual rate in April, marked a second straight monthly acceleration in inflation.

It was enough to force the Federal Reserve's hand. At the mid-June Fed meeting – the first with Kevin Warsh at the helm as chair – the central bank's rate-setting committee struck a decidedly hawkish tone. Surprised by the sticky inflation data, the Fed bumped its median 2026 inflation forecast up to 3.6% from 2.7%.

It also nudged its median fed funds rate projection (the so-called dot plot) to 3.8% from 3.4%, signaling that rates will be staying higher for longer.

So, what changed in the June inflation report? In a word: Geopolitics.

Energy prices are on the rise again

May's monthly print was heavily driven by a geopolitical energy price spike, led by a sharp rise in gasoline prices. Thanks to a mid-June ceasefire and the reopening of the Strait of Hormuz, oil prices plunged roughly 21% to hover around $77 a barrel. Prices at the pump soon followed.

This dramatic reversal in energy prices means the headline CPI number for June flipped negative.

"Energy prices were by far the biggest driver of the general price decline in June, falling 5.7%, after jumping 10.9% in March, 3.8% in April, and 3.9% in May," says Scott Anderson, Ph.D., chief U.S. economist at BMO.

But inflation could go higher from here. With the ceasefire officially over, oil prices are up more than 15% so far in July.

"This raises the specter that large and volatile changes in energy prices could still stoke downstream inflation pressures if the war in Iran continues," says Anderson. "And, it will keep the Federal Reserve’s finger on the rate hike trigger should inflation pressure resurface in the core measures."

The June CPI report also showed that core prices, which exclude volatile food and energy costs, were flat month over month in June and up 2.6% year over year. This compares to May's readings of 0.2% and 2.9%. Economists expected a monthly increase of 0.2% and an annual rise of 2.9%.

This sharp divergence – a cooling headline figure driven purely by an energy swing, paired with sticky core inflation – creates a highly complicated backdrop for the Fed.

Unsurprisingly, Fed officials themselves appear somewhat divided on the path forward. New York Fed President John Williams recently pointed to easing inflationary pressures, particularly in moderating shelter costs.

Conversely, Chicago Fed President Austan Goolsbee voiced concerns that inflation is trending in the wrong direction. This internal split has some market watchers floating an unexpected possibility: That the next Fed move might actually be a rate hike, rather than a cut.

With the June CPI report on the books, we looked at what economists, strategists and other experts on Wall Street have to say about the data. You'll find their insight, edited at times for brevity, below.

What Wall Street is saying about the June CPI report

"Underlying inflation continues to move in the right direction, allowing the Federal Reserve to keep rates steady at their July FOMC meeting. We continue to see opportunities in areas supported by durable earnings growth, particularly AI, while maintaining diversified portfolios to help navigate periods of elevated volatility." - Gargi Chaudhuri, Chief Investment and Portfolio Strategist for the Americas at BlackRock

"If you were looking for runaway inflation in this report, you didn't get it. It's pretty clear any recent rise in inflation was related to energy prices and wouldn't be long-lasting." - Jamie Cox, Managing Partner for Harris Financial Group

"This is the report the Fed has been waiting for: headline relief and, more importantly, a core reading that shows the energy shock stayed contained. It strengthens the case that the inflation impulse keeping policy on hold was largely a one-off, and it should give the committee more room to lean toward supporting the labor market as the year progresses." - Jason Pride, Chief of Investment Strategy & Research at Glenmede

"June inflation was notably softer than expected as energy and core goods prices eased. The report gives the Fed some breathing room and likely takes a July rate hike off the table. Still, the underlying inflation picture remains uncomfortable. Software prices continue to rise amid AI-related capacity constraints, while persistent restaurant inflation suggests demand remains strong." - Sonu Varghese, Chief Macro Strategist at Carson Group

"The Fed was losing patience with high inflation readings, and today's cooler-than-expected report gives them room to breathe. By surprising on the downside, it relieves immediate pressure for action, allows the Fed to gather additional inflation data over the summer, and makes it considerably easier for policymakers to maintain their current wait-and-see stance through the next meeting." - Ellen Zentner, Chief Economic Strategist for Morgan Stanley Wealth Management

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Kia America is recalling nearly 463,000 Telluride SUVs because the front power seat motor could overheat and catch fire while the vehicle is parked or being driven.

The National Highway Traffic Safety Administration (NHTSA) is advising owners of affected vehicles to park outside and away from buildings and other vehicles until the recall repair is complete.

The recall affects Tellurides from the 2020 through 2024 model years. Kia is aware of seven seat fires and 11 incidents involving melted seat motors, according to the NHTSA. Taking care of the free recall repair can help protect your family, your vehicle and one of your biggest financial investments. Here's what you need to know.

What is causing the fire risk?

The problem involves the front power seat motor.

If the power seat knob is accidentally hit, the seat switch can become dislodged and damaged. That can cause the seat motor to keep running, which might lead to overheating and potentially a fire.

The issue can occur while the Telluride is being driven or while it is parked.

These vehicles were previously recalled in 2024 for the same underlying problem. However, NHTSA says an improper repair performed under the earlier recall could also allow the seat motor to overheat and catch fire.

That's why owners who had the previous recall repair completed should still check whether their vehicle is included in the latest recall.

What Telluride owners should do now

Until the latest repair is complete, NHTSA says that affected owners should park vehicles outdoors, away from buildings and other vehicles.

Kia dealers will install an electronic fuse assembly designed to prevent the seat motor from operating continuously if the seat switch becomes dislodged, misaligned or damaged. The repair will be performed free.

Kia is expected to begin mailing notification letters to affected owners on August 13. However, owners don't have to wait for a letter to check whether their vehicle is included in the recall.

You can search for open recalls using your vehicle identification number, or VIN, through this NHTSA recall lookup tool. You can also contact a local Kia dealership for more information about the repair.

Can you still drive your Kia Telluride?

The recall does not tell owners to stop driving their Tellurides, but the fire risk can occur whether the SUV is parked or in use. Until the repair is complete, owners should follow NHTSA's guidance and park outside away from buildings and other vehicles.

Drivers should also pay attention to potential warning signs around the front power seats. If you notice unusual heat, a burning or melting smell or smoke coming from underneath a seat, stop driving and move away from the vehicle.

If you own a 2020 through 2024 Kia Telluride, check whether your SUV is included in the recall, even if you had work performed under the previous 2024 recall.

Handling a recall can help protect your vehicle and give you peace of mind. The right auto insurance coverage can provide an additional layer of financial protection when the unexpected happens.

Use the tool below, powered by Bankrate, to compare coverage options and find a policy that fits your needs and budget:

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If you switched from cable to live TV streaming hoping to save money, you probably noticed those monthly bills gradually climb over the past several years.

Some subscribers might be able to recover a small portion of those costs through a proposed $50 million settlement involving Disney.

The settlement stems from a class-action lawsuit alleging Disney's business practices contributed to higher prices for live TV streaming services like YouTube TV and DirecTV Stream.

While Disney denies any wrongdoing, the company agreed to settle the claims, meaning current and former subscribers could qualify for a payment if the settlement receives final court approval.

Here's what you need to know.

What is the Disney streaming settlement?

The proposed settlement resolves part of the class-action lawsuit Biddle v. Disney, which alleges Disney violated federal and state antitrust laws by using its market power during negotiations with streaming providers.

According to the lawsuit, Disney required providers such as YouTube TV and DirecTV Stream to carry ESPN and other Disney-owned channels in widely available programming packages.

Plaintiffs argue those carriage agreements, which determine which channels streaming providers carry and how they're packaged, made it more difficult for streaming services to offer lower-cost channel bundles and ultimately contributed to higher subscription prices.

Disney has denied the allegations and maintains it did nothing unlawful. The proposed $50 million settlement is not an admission of liability but instead resolves the claims for eligible YouTube TV and DirecTV streaming subscribers.

Who qualifies for a Disney settlement payment?

You might be eligible if you paid for either of these live TV streaming services during the qualifying period:

• YouTube TV from April 1, 2019 to March 31, 2026
• A DirecTV streaming live pay TV subscription, including DirecTV Stream, DirecTV Now or AT&T TV Now, during the same period.

If you subscribed to both YouTube TV and one of the eligible DirecTV streaming services, you can include both subscriptions on a single claim form.

How much money could you receive?

There's no guaranteed payout amount. Payments will be calculated based on two primary factors:

• How long you maintained an eligible subscription.
• How many valid claims are ultimately submitted.

That means someone who subscribed for several years could receive a larger payment than someone who only subscribed for a few months, but the final amount won't be known until the claims process is complete.

After attorneys' fees and other approved costs are deducted from the settlement fund, the remaining money will be distributed among eligible claimants.

How to file a claim

Eligible consumers can submit a claim online or by mail.

The easiest option is through the court-authorized settlement website:

Online TV Settlement website

If you received a settlement notice by email or mail, you'll use the Unique ID and PIN included in that notice to submit your claim. If you didn't receive one, the settlement administrator provides instructions for requesting assistance.

You can also print a claim form and mail it to the settlement administrator at this address:

Biddle v. Disney

Settlement Administrator

P.O. Box 4720

Portland, OR 97208-4720

The deadline to submit a claim is Sept. 8, 2026. Claims submitted online or by mail must be postmarked by that date.

When will settlement payments be sent?

Don't expect a payment immediately.

Before any money is distributed, the settlement must receive final court approval. The final approval hearing is currently scheduled for Jan. 14, 2027. If the settlement is approved and any appeals are resolved, payments will be distributed afterward.

As with many class-action settlements, the entire process could take several months after the hearing before checks or electronic payments are sent.

What the lawsuit says about the cost of streaming

While this settlement might result in cash payments for eligible subscribers, it also highlights one reason streaming prices have steadily increased.

Live TV streaming providers don't simply choose which channels to offer. Many negotiate complex carriage agreements with media companies that own popular networks. Those agreements can require providers to include high-demand channels (such as ESPN), within their standard channel packages instead of offering them as optional add-ons.

The plaintiffs argued that these requirements reduced competition by limiting providers' ability to create less expensive packages for customers who didn't want sports programming. Disney disputes those allegations, but the case has renewed attention on how channel bundling affects what consumers ultimately pay each month.

Regardless of the outcome, it's a good reminder to review your streaming expenses at least once a year. Compare recent price increases, cancel services you no longer watch and consider whether a live TV bundle still delivers enough value for the channels your household uses.

For some families, rotating subscriptions or switching to lower-cost streaming options can free hundreds of dollars annually.

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Summer vacations are something many families look forward to every year, but the summer of 2026 could hit your wallet hard.

Higher gas prices are just one of the issues leading to more expensive plane tickets and road trips.

This year, if travel plans require a flight and lodging, you can expect to spend almost $4,000 before even arriving at your destination, according to a report from NerdWallet. And more than a third of the travelers who put their vacations on credit cards last year are still paying them off.

With costs even higher this year, how can you plan a summer vacation without throwing off your financial goals?

1. Build a budget

First and foremost, you should fully understand the cost of your vacation ahead of time. Before you choose a destination, understand how much you can afford for the trip as a whole.

Once you have your spending limit, start pricing out each individual expense, such as airfare, hotel, gas, food or entertainment. Many travelers don't plan out their spending limits before they leave, which can lead to debt that you carry long after your trip.

Allocate your budget to what is most important to you and your family. Are you a family that values a really nice hotel or something more budget-friendly? Are you focused on experiences such as excursions or dining out?

Creating a budget isn't about restriction or telling yourself to pull back on the fun. It is about creating a spending plan that focuses on what you value the most and what will help create the most lasting memories.

2. Manage spending

While creating a budget is a great way to take a bird's-eye view of what this trip will cost you, what will your individual spending plans be for the days you are there?

My recommendation is that you carry only the amount of money you have given yourself to spend each day. This way, you know when the cash is gone, you have reached your limit.

Of course, there might be some instances where you'll have no choice but to use a credit card, depending on where you are and what you're doing.

But don't be tempted to put expenses on a credit card that you may not be able to pay off. Try to use credit cards only for emergencies. They can be a secure way to spend money, especially overseas, but it's easy to overspend using them.

Look for easy ways to lower your spending:

• Take advantage of continental breakfasts and try to avoid the hotel restaurant. It's often a lot more expensive than the restaurant down the street.
• Instead of dining out for every other meal, consider spending extra money on one or two memorable dinners and look for more affordable options the rest of the time.
• If your vacation includes trips to an amusement park such as Disney World, consider packing snacks and water bottles to bring with you. This will help reduce impulse purchases throughout the day.

Just like you did with your overall budget, decide what is most important to your family. Pick the few attractions or souvenirs you absolutely need to spend money on. You may not be able to afford every single one, but having a priority list will help you decide what is best.

3. Plan for next year

One of the biggest mistakes you can make is putting your entire vacation on one credit card and telling yourself you'll figure out how to pay it off later. Look into the benefits of having a dedicated vacation fund and making monthly deposits into it throughout the year.

Breaking down a $3,000 vacation into 12 separate deposits of $250 seems much more realistic and manageable than paying for it all at once. A financial planner could help you set up a high-yield savings account that is specifically used for travel expenses.

4. Don't forget about the ultimate vacation: Retirement

Planning for your summer vacation is fun, but don't let that excitement take away from your plans for the ultimate vacation: Retirement. Prioritizing saving for your future will help you enjoy your golden years without worrying about running out of money.

I often recommend that you save 10% to 15% of your income if you plan to keep your current standard of living in retirement. A good goal is to have more than 10 times your annual salary saved by the time you retire.

But that number varies from person to person, depending on your unique situation. Sit down with a financial professional to determine how much money you need for retirement.

While summer vacations are more expensive than they were just five or six years ago, that doesn't mean you have to skip them. With strategic planning, it is possible to enjoy a great vacation without setting yourself up for a failing financial future.

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This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA.