News

Evelyn is turning 65 and about to retire — and now her kids are talking about something called ‘Swedish death cleaning.’ While it may sound morbid, Swedish death cleaning is a philosophy rooted in practicality. In Swedish, it’s known as döstädning, which is essentially a decluttering exercise that helps you simplify your life while reducing the burden on loved ones once you pass. As you age, you start getting rid of ‘stuff’ you’ve accumulated throughout your lifetime that you no longer need — so no one has to do it for you later. You keep what’s useful or meaningful and let go of everything else. “Visit [your] storage areas and start pulling out what’s there,” writes Margareta Magnusson — who popularized the philosophy — in her 2017 book, The Gentle Art of Swedish Death Cleaning. “Who do you think will take care of all that when you are no longer here?” This isn’t meant to be depressing; rather, she says it can be “a delight to go through things and remember their worth.” But Swedish death cleaning isn’t just an amped-up version of spring cleaning. It can also be part of your retirement and estate planning.

By Vawn Himmelsbach | 05.15.25

A Las Vegas woman is asking for a policy change at NV Energy and the Public Utilities Commission of Nevada (PUCN) after her power was cut without her knowledge while she was away on vacation, and was nearly cut off again just three months later. LaShanna Butler returned home from her holiday in October at 1 a.m. to find her power cut. All the food in her fridge and freezer had spoiled because of the outage, and had to be replaced at an expense of $400 to her. She reached out to NV Energy, who told her someone had called their offices to say a new tenant was moving in. The representative told Butler they had sent her a letter about the matter. The letter was dated Oct. 6, and said power would be cut the following day, on Oct. 7. “I said, ‘You never talked to me,’” Butler told KLAS 8 News Now. In January, Butler received another letter. This one, dated Jan. 18, said power would be shut off on Jan. 17. Moreover, the postmark on the letter shows it wasn’t mailed until Jan. 21. “So, you’re going to cut my power off on the 17th, but you don’t even mail it until the 21st — that’s four days later,” she said.

By Rebecca Holland | 05.14.25

Teresa Lawrence-Coston got a shock recently when she opened her mailbox and found a stack of envelopes from her electric company. Each one had a bill with the same date of issue — March 17 — but included charges across 10 months of service totaling $3,327.52, according to WCVB NewsCenter 5. “I’m like, ‘This can’t be real,’” she recalled to the local broadcaster in a story published April 24. “I didn’t receive any cutoff notices. No late status. Nothing. Just one day, out of the blue, 10 statements.” Other utility customers in Massachusetts shared stories with NewsCenter 5 about being slammed with massive, surprise bills, totaling thousands of dollars, after not being charged regularly for months. The complaints centered around two companies: Eversource and National Grid. “How do [they] reconcile their accounts?” Lawrence-Coston asked. “What are [they] doing over there that they didn’t realize they weren’t invoicing me?”

By Jessica Wong | 05.14.25

Many experts are warning that America may be headed for a recession as a result of President Donald Trump’s sweeping tariffs. But according to Rich Dad Poor Dad author Robert Kiyosaki, something far worse is looming. “In 2025 credit card debt is at all time highs. U.S. debt is at all time highs. Unemployment is rising. 401(k)’s are losing,” he wrote in an X post on April 18. “U.S.A. may be heading for a GREATER DEPRESSION.” According to the Federal Reserve Bank of New York, Americans now owe a record $1.21 trillion on their credit cards, while the U.S. National debt has climbed to $36.22 trillion. “For those who take action today, when the crash crashes, those who invest in just one Bitcoin, or some gold, or silver … You may come through this crisis a very rich person,” Kiyosaki wrote. That advice should come as no surprise — Kiyosaki has long been a vocal proponent of these alternative assets, which he backed by making a bold prediction. “I strongly believe, by 2035, that one Bitcoin will be over $1 million. Gold will be $30K and silver $3,000 a coin,” he wrote. Let’s take a closer look at the assets he’s championing.

By Jing Pan | 05.14.25

So, you’ve left planning for your golden years to the mid-century mark — don’t worry. You’re not the only one. About 20% of Americans aged 50 and older have nothing saved for retirement, according to a recent survey by AARP. For those starting late, the challenge to save enough in time might seem daunting. Americans, on average, believe they’ll need nearly $1.46 million for a comfortable retirement, based on a 2024 study by Northwestern Mutual. Even if you’re one of the many Americans falling short of what you expected to have stashed away for retirement by now, you still have options — here are five ways to catch up fast.

By Phil Osagie | 05.14.25

The value of home equity has exploded, driven by rising home prices, low mortgage rates and the tendency for homeowners to remain in their homes longer. As a result, home equity has more than quadrupled from a low of $8.2 trillion in 2012 to $35 trillion in Q3 2024. Equity as a portion of real estate value was at 72.5% as of Q3 2024, while the average equity for existing homeowners was about $266,000, according to Realtor.com. Now, individual investors are also able to participate in the rising value of U.S. home equity. There’s a new asset class available to accredited investors with $25,000 or more to invest, designed to maximize upside potential while limiting downside risk. Major institutions have been investing billions of dollars into the home equity market for years, including companies like Barclays, Carlyle Group, Numora, and KKR. DBRS Morningstar and KBRA have even issued ratings for securitizations tied to this market. Now, individual accredited investors can access the same asset class as these Wall Street giants through the U.S. Home Equity Fund from Homeshares.

By Vawn Himmelsbach | 05.14.25

Joan Madden-Ceballos didn’t make headlines for volunteering or falling victim to a crime. Instead, she caught the attention of Boston 25 News for something that says a lot about about America today: at 70, she’s still on the job. Madden-Ceballos is among the growing number of Americans 65 and older who are staying in the workforce into their golden years. Working past the traditional retirement age of 65 isn’t new — especially as life expectancy increases — but the number of Americans remaining on the job continues to rise, largely due to economic hardship. The Bureau of Labor Statistics reports that between 2003 and 2023, the number of people over 55 still in the workforce increased by nearly 74%. Today, more than 1 in 5 workers are 55 or older. For those 75 and older, the number has grown by a record 113%.

By Rebecca Holland | 05.14.25

Many Americans have felt the sting of rising prices over the past few years. Now, millions are set to receive a surprise boost to their bank accounts — part of a multibillion-dollar effort to ease inflation’s impact. But the money is only going to residents of one state: New York. As part of the state’s fiscal 2026 budget agreement, Gov. Kathy Hochul announced that New York will send out “inflation refund checks” totaling $2 billion to more than 8 million taxpayers. “The cost of living is still too damn high, so I promised to put more money in your pockets — and we got it done,” Hochul said in a news release. It's explained in the release that while inflation has driven up prices for residents, it has also led to “sharp increases” in the state’s sales tax collections, and “that money belongs to hardworking New York families and should be returned to their pockets as an inflation refund.”

By Jing Pan | 05.14.25

“You are suffocating. And that’s what’s going to kill you.” That’s the bleak reality facing Virginia coal miners, retired miner John Robinson told ABC News, as he opened up about work underground while living with black lung disease. Now federal cuts to safety programs raise the life-and-death stakes for miners like him even higher. Black lung disease, a severe respiratory illness, is on the rise as miners work deeper than ever beneath the Earth’s surface. At such depths, they’re exposed to silica — a naturally occurring compound 20 times more toxic than regular coal dust. While Trump has promised to get coal booming again in the U.S., he is cutting funding to the National Institute of Occupational Safety and Health (NIOSH). Since it was set up in 1970, this federal agency has enforced worker safety across the U.S., including maintaining health surveillance programs to monitor and protect miners from black lung disease and other job-related risks. The Trump administration’s cuts have essentially shuttered the agency. As their layoffs loom in June, agency employees say that without adequate safety enforcement, there won’t be any people to extract coal. Miners agree. "You don't take care of the miners, you ain't going to mine coal," said one. "The machine don't run by itself, you know what I'm saying?"

By Chris Clark | 05.14.25

California may be one of the richest states in the country, but it’s a difficult place to afford for many average families. Studies say the gap between high and low incomes is wider in California than in most other states. New research drives that point home even more. Nonprofit United Ways of California recently released a report which says that a staggering 35% of California working households don't earn enough money to meet their basic needs. This means more than 3.8 million families in California are struggling financially. And if lawmakers don't intervene, the state could soon have a poverty crisis on its hands.

By Maurie Backman | 05.14.25

Francesca Barrett, a Kent State graduate, has never missed a student loan payment — even during the pandemic. But that doesn’t mean she’s not struggling with the remainder of her $52,000 student loan. “My first paycheck of the month covers rent, student loan, groceries for two weeks, and I get about $30 left over,” she told News 5 Cleveland. “I look at that number that’s in my bank account two to three times a week.” Barrett is one of the lucky ones. She’s not in default, which puts her in a better position than over five million federal borrowers who are (and four million more nearing default). But that protection doesn’t apply to those who fall behind because starting May 5, the U.S. Department of Education will resume involuntary collections on defaulted loans, ending a pandemic-era pause.

By Danielle Antosz | 05.14.25

The term ‘“middle class” is often discussed but rarely defined. It’s a term the majority of Americans would use to define themselves, yet most people don’t know whether their household truly fits into this category. Based on the Pew Research Center’s analysis of government data, roughly 49% of Americans don’t actually fall into the middle class income category. Here’s a closer look at why that is.

By Vishesh Raisinghani | 05.14.25

Retirement is supposed to be a milestone you plan for, not one that gets thrust upon you. Yet a recent MassMutual survey found that while 63 is the ideal retirement age according to both retirees and pre-retirees, many workers are forced out years earlier than expected. Some companies push older workers out before they're ready, often in subtle ways. A generous severance package might seem like an enticing nudge toward retirement. In other cases, the push is more insidious — reassigning experienced workers to menial tasks, making them feel miserable or undervalued until they quit on their own. If you’re being forced out of your job and into retirement, the transition can be overwhelming. But understanding the challenges — both emotional and financial — can help you cope.

By Maurie Backman | 05.14.25

Trouble is brewing on the travel horizon. Once seen as a golden ticket to free flights and VIP perks, airline loyalty programs are leaving frequent flyers grounded. Most airlines offer loyalty programs to encourage people to stick with the same carrier for most of their trips. These loyalty programs allow flyers to earn miles that can be redeemed to buy free flights. Traditionally, they've also offered perks like first-class upgrades, early boarding or line-skipping privileges and access to airline lounges. However, these programs have changed — and not for the better. Consumers are bearing the brunt of these changes. So what’s shifting, and why are regulators paying attention? Here are some tips on how you can make the most of the existing programs and keep travel affordable, even if they don't provide the benefits they once did.

By Christy Bieber | 05.14.25

A Niagara Falls family says the city went too far when it tore out their front-yard garden without proper notice, and then fined them nearly $2,300. Justine Burger says the garden was created for her autistic son and featured painted blocks, a welcome sign and plants. But after a city crew removed the garden, the family told WGRZ News that they were blindsided — and now they’re left with a bill they can’t afford and a fight they didn’t see coming.

By Danielle Antosz | 05.14.25

Mike Moon got quite the shock when he found out what his tenants were really doing in his rental property. In late April, more than 300 law enforcement officers — from around 10 federal agencies — zeroed in on Moon’s property in the wee hours of the morning. During the raid, officers seized cocaine, pink cocaine and meth. They also detained over 100 people and arrested two people on existing warrants. DEA Special Agent in Charge Jonathan Pullen told reporters at Denver7 that many of the folks they detained will face federal immigration charges. The Drug Enforcement Administration claims the property was being used as a nightclub illegally. Additionally, it is now linked to gang activity, drug trafficking, violence and prostitution.

By Sarah Li-Cain, AFC | 05.14.25

Rena Scott doesn’t think twice when it comes to shopping on the infamously cheap site Temu. In fact, she usually has 10 to 12 orders going at a time. “Everything here has come in from overseas anyway, so you’re just cutting out the middleman, like the Walmarts, the Amazons,” the retired registered nurse from Virginia tells CNN. But when the Trump administration slapped a 145% tariff on Chinese imports — and a 10% minimum tax on goods from all other countries — “cheap” became a relative label. Temu and Shein raised prices on a lot of their most popular products just ahead of the May 2 tariff deadline. “I can’t afford to buy from Temu now, and I already couldn’t afford to buy in this country,” Scott said in late April. Two weeks later, the Trump administration and Chinese leaders agreed to temporarily slash most tariffs while they try to work out a new deal. The U.S. lowered tariffs on most Chinese goods from 145% to 30%, while China cut its tariff on U.S. goods from 125% to 10%. Yet the reduced rates are still severe — and if a deal isn’t settled by mid August and sky-high tariffs return, Americans who are already buying the cheapest goods available may have no way to avoid the pain.

By Jessica Wong | 05.13.25

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

By Christy Bieber | 05.13.25

A few years ago, your brother borrowed money to help pay for groceries for several months, and paid you back. But now, he finds himself short of cash again and you’re not sure whether you want to lend him more money. Wanting to help out a friend or family member when they’re in a financial bind may seem like a no-brainer, but you need to be sure you’re also taking care of your needs as well. For one, you want to make sure you have enough room in the budget to pay for your own expenses — and lend money. You may also need to mitigate other risks, like potential strain on your relationship. Let’s take a closer look at these risks and if you decide to still lend the money, how to do so responsibly.

By Sarah Li-Cain, AFC | 05.13.25

A 38-year-old father is navigating an all-too-common balancing act of full-time work, single parenting and, now, caregiving for his mother. After a fall and early signs of dementia, his 73-year-old mom moved in. While he’s not in a financial crisis, the pressure is mounting. Between work, caring for his 6-year-old son and supporting his mom, he’s not sure how he’ll manage the situation. On the financial side, he has to decide whether he should rent or sell his mom’s vacant condo. And emotionally, he needs advice on how to set boundaries with his mother without feeling guilty. He’s also feeling isolated as most of his friends aren’t in his situation, yet. His story isn’t unique. According to the Pew Research Center, a third of all Americans — and half of Americans in their 40s — are finding themselves part of the “sandwich generation” that cares for both children and parents at the same time. Here's what to know if you're in a similar spot.

By Danielle Antosz | 05.13.25