I'm 52 and $89K in debt. Can I cash in my 401(k)?
Holding on to $89,000 in debt can be overwhelming. And you might feel like you’re dealing with an impossible financial situation. Your 401(k) might seem like the only lifeline available, but to be crystal clear: tapping into retirement savings should be your absolute last resort. When you're drowning in debt at any age, you're in a particularly vulnerable position. But at 52 it can seem calamitous. And with potentially 10-15 years left until retirement, you're in the critical accumulation phase where your retirement savings should be growing substantially. That combination of high-interest credit card debt and the temptation to raid retirement funds creates a perfect storm of financial issues that requires some immediate action.
Holding on to $89,000 in debt can be overwhelming. And you might feel like you’re dealing with an impossible financial situation. Your 401(k) might seem like the only lifeline available, but to be crystal clear: tapping into retirement savings should be your absolute last resort. When you're drowning in debt at any age, you're in a particularly vulnerable position. But at 52 it can seem calamitous. And with potentially 10-15 years left until retirement, you're in the critical accumulation phase where your retirement savings should be growing substantially. That combination of high-interest credit card debt and the temptation to raid retirement funds creates a perfect storm of financial issues that requires some immediate action.
US boomers replace 4% rule with these 2 strategies
The 4% rule is pretty much the gospel for financial advisors and savvy savers. For decades, people planning for retirement have relied on this simple rule-of-thumb to calculate their ultimate financial target. The rule is a guideline that suggests retirees should withdraw 4% of their investment portfolio every year in retirement, with the option to make adjustments to account for inflation. This maximum withdrawal rate was believed to be a sure-fire method for stretching a senior's retirement income for 30 years or more. But given how unpredictable the economy has been in 2025, the 4% rule might be insufficient if you’re looking for long-term peace of mind. After all, the rule was created by financial advisor Bill Bengen all the way back in 1994 and relied on his analysis of stock market returns over the previous 30 years. Simply put, the 4% rule might be a little outdated in 2025. If you’re looking for an alternative, the team at Vanguard recently offered two options. Here’s a closer look at these updated retirement spending and withdrawal strategies, and why they could help you set a more realistic financial goal for retirement.
The 4% rule is pretty much the gospel for financial advisors and savvy savers. For decades, people planning for retirement have relied on this simple rule-of-thumb to calculate their ultimate financial target. The rule is a guideline that suggests retirees should withdraw 4% of their investment portfolio every year in retirement, with the option to make adjustments to account for inflation. This maximum withdrawal rate was believed to be a sure-fire method for stretching a senior's retirement income for 30 years or more. But given how unpredictable the economy has been in 2025, the 4% rule might be insufficient if you’re looking for long-term peace of mind. After all, the rule was created by financial advisor Bill Bengen all the way back in 1994 and relied on his analysis of stock market returns over the previous 30 years. Simply put, the 4% rule might be a little outdated in 2025. If you’re looking for an alternative, the team at Vanguard recently offered two options. Here’s a closer look at these updated retirement spending and withdrawal strategies, and why they could help you set a more realistic financial goal for retirement.
Ohio group accused of SNAP fraud
A trio in Columbus, Ohio, are awaiting their chance to enter a plea to fraud charges after allegedly bilking more than $600,000 from the Supplemental Nutrition Assistance Program (SNAP) benefit program. It’s not yet known how the group’s scheme worked, but the sweet tooths have been collaborating since July 2024, using stolen SNAP benefit cards to buy thousands of dollars worth of candy, soda, Red Bull and other junk food. Ionut Bizga, Doina Maria Bacelan, and Juan Carlos Pagan Hernandez are charged with several counts of criminal activities described as a "pattern of corrupt activity and food stamp fraud," according to an Ohio Department of Public Safety spokesperson, in an interview with WHIO-TV. The stolen goods were placed in Columbus storage units before being shipped out of state, according to Newsweek. Investigators seized card skimmers, cloned gift cards, credit cards, laptops and cell phones. They are also working to identify further suspects in the case. While Ohio government officials are working hard to crack down on SNAP fraud, one question remains: Are professional scammers stealing your tax dollars from the program?
A trio in Columbus, Ohio, are awaiting their chance to enter a plea to fraud charges after allegedly bilking more than $600,000 from the Supplemental Nutrition Assistance Program (SNAP) benefit program. It’s not yet known how the group’s scheme worked, but the sweet tooths have been collaborating since July 2024, using stolen SNAP benefit cards to buy thousands of dollars worth of candy, soda, Red Bull and other junk food. Ionut Bizga, Doina Maria Bacelan, and Juan Carlos Pagan Hernandez are charged with several counts of criminal activities described as a "pattern of corrupt activity and food stamp fraud," according to an Ohio Department of Public Safety spokesperson, in an interview with WHIO-TV. The stolen goods were placed in Columbus storage units before being shipped out of state, according to Newsweek. Investigators seized card skimmers, cloned gift cards, credit cards, laptops and cell phones. They are also working to identify further suspects in the case. While Ohio government officials are working hard to crack down on SNAP fraud, one question remains: Are professional scammers stealing your tax dollars from the program?
Former basketball star builds ‘party house’ in GA
Suburban homes often offer an oasis where people can raise kids, enjoy nature and have peace and quiet. However, in one suburb in unincorporated DeKalb County, that quiet is allegedly being disturbed by a loud neighbor running a party house. "It is very dysregulating to your nervous system," said Sarah Kleiner, one of the residents affected, who is trying to raise her children in the formerly-quiet neighborhood. "You could just be relaxing at home and then all of a sudden, the bass starts. You’re sitting on your couch and it just starts thundering through the home." Neighbors have complained for over a year about the noise issue and other problems with the house in question, but the home's owner claims he's the one being harassed. So far, code violations have been dismissed and the police have proved unable to solve the problem, but county officials are working to change the rules to stop the unneighborly behavior for good. Here's what's happening, along with some details on why the neighbor's complaints have had no effect.
Suburban homes often offer an oasis where people can raise kids, enjoy nature and have peace and quiet. However, in one suburb in unincorporated DeKalb County, that quiet is allegedly being disturbed by a loud neighbor running a party house. "It is very dysregulating to your nervous system," said Sarah Kleiner, one of the residents affected, who is trying to raise her children in the formerly-quiet neighborhood. "You could just be relaxing at home and then all of a sudden, the bass starts. You’re sitting on your couch and it just starts thundering through the home." Neighbors have complained for over a year about the noise issue and other problems with the house in question, but the home's owner claims he's the one being harassed. So far, code violations have been dismissed and the police have proved unable to solve the problem, but county officials are working to change the rules to stop the unneighborly behavior for good. Here's what's happening, along with some details on why the neighbor's complaints have had no effect.
Drone sale leads to $100K counterfeit bust
A $100,000 counterfeit cash operation was blown open after a suspect purchased a drone on Facebook Marketplace and led Michigan State Police right to their doorstep. Lieutenant Rene Gonzalez of the Brighton post told WXYZ News that the investigation began with a victim who listed a drone for $800 online. When the buyer arrived at her home in late March and paid in cash, everything at first seemed normal. “They met up at the victim’s residence,” Gonzalez said. “The transaction of the cash was completed, and the property was turned over to the suspect. The victim went back in the home and realized that the money that she was given was counterfeit. So, that’s when police were contacted.”
A $100,000 counterfeit cash operation was blown open after a suspect purchased a drone on Facebook Marketplace and led Michigan State Police right to their doorstep. Lieutenant Rene Gonzalez of the Brighton post told WXYZ News that the investigation began with a victim who listed a drone for $800 online. When the buyer arrived at her home in late March and paid in cash, everything at first seemed normal. “They met up at the victim’s residence,” Gonzalez said. “The transaction of the cash was completed, and the property was turned over to the suspect. The victim went back in the home and realized that the money that she was given was counterfeit. So, that’s when police were contacted.”
Will debt from my 20s follow me my entire 30s?
If you're handing over $1,100 each month to service maxed-out credit cards, you're not alone. The average credit card balance hit $6,371 as of the first quarter of 2025, according to a May TransUnion report, while interest rates now hover around 24.33% for new cards. That’s significantly higher than the average rates we were seeing only a few years ago. And with inflation rearing its ugly head, that debt burden can seem overwhelming (to say the least). But there's good news: you can escape this debt trap with the right strategy. Let's be clear — those wild experiences in your 20s happened. They're part of who you are. But now it's time to rebuild your financial life with the same energy you brought to your adventures.
If you're handing over $1,100 each month to service maxed-out credit cards, you're not alone. The average credit card balance hit $6,371 as of the first quarter of 2025, according to a May TransUnion report, while interest rates now hover around 24.33% for new cards. That’s significantly higher than the average rates we were seeing only a few years ago. And with inflation rearing its ugly head, that debt burden can seem overwhelming (to say the least). But there's good news: you can escape this debt trap with the right strategy. Let's be clear — those wild experiences in your 20s happened. They're part of who you are. But now it's time to rebuild your financial life with the same energy you brought to your adventures.
TikTok helped build this Montana farm
When you can't find farmhands the old-fashioned way, it might be time to think outside the fence posts. That’s exactly what the founders of Yellowstone Farmstead did. The agricultural venture, nestled at the Montana side of Yellowstone National Park, began as Shugabeet Farms — a solo project launched by sixth-generation Maine farmer Sage LeBlanc. In 2024, she joined forces with fellow East Coaster Allison Larew, former Garden Director at Chico Hot Springs, to grow their shared dream of a sustainable, community-rooted farm. But finding the right team to bring their vision to life wasn’t easy. “I remember looking at Sage and we had gone through applications and I was like, ‘gosh, I wish we could grab from a bigger pool. I was like, it’s our time to try TikTok,” Larew told 4KXLF News. After combing through nearly 4,000 TikTok applications, the pair hired 12 new employees — mostly women. The farm has grown to 10 acres since then. But it wasn’t just social media that brought Yellowstone Farmstead to life. It was their entrepreneurial spirit that turned a shared dream into a thriving, boots-on-the-ground business.
When you can't find farmhands the old-fashioned way, it might be time to think outside the fence posts. That’s exactly what the founders of Yellowstone Farmstead did. The agricultural venture, nestled at the Montana side of Yellowstone National Park, began as Shugabeet Farms — a solo project launched by sixth-generation Maine farmer Sage LeBlanc. In 2024, she joined forces with fellow East Coaster Allison Larew, former Garden Director at Chico Hot Springs, to grow their shared dream of a sustainable, community-rooted farm. But finding the right team to bring their vision to life wasn’t easy. “I remember looking at Sage and we had gone through applications and I was like, ‘gosh, I wish we could grab from a bigger pool. I was like, it’s our time to try TikTok,” Larew told 4KXLF News. After combing through nearly 4,000 TikTok applications, the pair hired 12 new employees — mostly women. The farm has grown to 10 acres since then. But it wasn’t just social media that brought Yellowstone Farmstead to life. It was their entrepreneurial spirit that turned a shared dream into a thriving, boots-on-the-ground business.
Price of AC unit up 30% to 40% due to new EPA rule
In the sweltering Las Vegas valley, air conditioning isn't just a luxury; it's a means of survival. “I can’t imagine living in Vegas and not having air conditioning,” local Kaili Bach shared with 8 News Now. So when AC units go on the fritz, residents are likely sweating the cost of a new unit or potential repairs just as much as they’re sweating the heat. And this summer, staying cool could cost more than ever. A nationwide refrigerant shortage, sparked by new federal environmental mandates, is reportedly sending shockwaves through the HVAC industry and straight into consumers’ wallets.
In the sweltering Las Vegas valley, air conditioning isn't just a luxury; it's a means of survival. “I can’t imagine living in Vegas and not having air conditioning,” local Kaili Bach shared with 8 News Now. So when AC units go on the fritz, residents are likely sweating the cost of a new unit or potential repairs just as much as they’re sweating the heat. And this summer, staying cool could cost more than ever. A nationwide refrigerant shortage, sparked by new federal environmental mandates, is reportedly sending shockwaves through the HVAC industry and straight into consumers’ wallets.
Why Las Vegas buyers are ditching home contracts
Home buyers in Las Vegas are walking away from contracts in increasing numbers. High interest rates, financial anxiety and an oversupplied market are pushing many to rethink their purchases before closing. A recent Redfin report found 14.3% of U.S. homes under contract in April were canceled, marking the second-highest April cancellation rate on record, behind only the pandemic-era spike in April 2020. In Las Vegas, the rate was even higher: 18.6% of purchase agreements fell through, placing the city eighth among major U.S. metros for canceled deals. Here are two of the main reasons for the growing trend.
Home buyers in Las Vegas are walking away from contracts in increasing numbers. High interest rates, financial anxiety and an oversupplied market are pushing many to rethink their purchases before closing. A recent Redfin report found 14.3% of U.S. homes under contract in April were canceled, marking the second-highest April cancellation rate on record, behind only the pandemic-era spike in April 2020. In Las Vegas, the rate was even higher: 18.6% of purchase agreements fell through, placing the city eighth among major U.S. metros for canceled deals. Here are two of the main reasons for the growing trend.
Chicago newsstand closing after 82 years
Owning a small business is no easy feat. And there may come a point when you’re ready to close it up and retire, or even retire from any other career that sustained you throughout your life. Of course, that doesn’t mean it’s always easy to walk away. And that’s certainly not the case for Mike Kaage, who owns a beloved newsstand in Chicago's Edison Park neighborhood. But as CBS News reports, Kaage has finally decided he's had enough and will be closing shop at the end of June. “I’ve been doing this way too long,” Kaage told CBS News. “It's time to end the era."
Owning a small business is no easy feat. And there may come a point when you’re ready to close it up and retire, or even retire from any other career that sustained you throughout your life. Of course, that doesn’t mean it’s always easy to walk away. And that’s certainly not the case for Mike Kaage, who owns a beloved newsstand in Chicago's Edison Park neighborhood. But as CBS News reports, Kaage has finally decided he's had enough and will be closing shop at the end of June. “I’ve been doing this way too long,” Kaage told CBS News. “It's time to end the era."
Silver Airways shuts down without warning
There’s missing a flight, and then there’s missing every flight because your airline just went bankrupt. That’s what happened to hundreds of travelers this week when Silver Airways, a Florida-based regional carrier, abruptly announced it was ceasing operations effective immediately. Passengers flying between Florida, the Bahamas and the Caribbean were left at airports with no warning, no alternative flight plans and no customer service reps in sight. “We regret to inform you that we are ceasing operations as of today, June 11, 2025,” the airline posted on Instagram. "Please do not go to the airport." The bankruptcy came with zero notice and even fewer answers, raising questions for customers who already paid for tickets. Here’s what led to the airline’s sudden nosedive — and what to do if your summer vacation just hit major turbulence.
There’s missing a flight, and then there’s missing every flight because your airline just went bankrupt. That’s what happened to hundreds of travelers this week when Silver Airways, a Florida-based regional carrier, abruptly announced it was ceasing operations effective immediately. Passengers flying between Florida, the Bahamas and the Caribbean were left at airports with no warning, no alternative flight plans and no customer service reps in sight. “We regret to inform you that we are ceasing operations as of today, June 11, 2025,” the airline posted on Instagram. "Please do not go to the airport." The bankruptcy came with zero notice and even fewer answers, raising questions for customers who already paid for tickets. Here’s what led to the airline’s sudden nosedive — and what to do if your summer vacation just hit major turbulence.
Ohio man says he was scammed out of $27K in cash
Robert Wise of Licking County, Ohio, is speaking out after allegedly being scammed out of $27,000 — and he’s not holding back. Wise, 67, shared his story with WBNS 10TV last month to help others avoid being fooled by “no-good, scum people.” “I want that big buy nailed and I don't care who you are. You try again, pal,” he said, pointing at the camera. “It was not legit, it was a scam … Do not answer any text message or phone number that you do not recognize. You do not answer it. You do not respond to it.” What makes Wise’s case especially alarming is that he says the accused didn’t just text or call him, he came right to his front door to pick up the cash. Here’s what happened.
Robert Wise of Licking County, Ohio, is speaking out after allegedly being scammed out of $27,000 — and he’s not holding back. Wise, 67, shared his story with WBNS 10TV last month to help others avoid being fooled by “no-good, scum people.” “I want that big buy nailed and I don't care who you are. You try again, pal,” he said, pointing at the camera. “It was not legit, it was a scam … Do not answer any text message or phone number that you do not recognize. You do not answer it. You do not respond to it.” What makes Wise’s case especially alarming is that he says the accused didn’t just text or call him, he came right to his front door to pick up the cash. Here’s what happened.
Bagging groceries to pay late wife’s medical bills
At Smith’s in St. George, Utah, 80-year-old Gary Saling is a familiar face — always bagging groceries with a smile. But, behind the uniform is a life story few shoppers know. Saling once designed multimillion-dollar mansions for Wall Street elites and served Hollywood royalty. Now, he’s still clocking in to pay off $80,000 in medical bills after caring for his late wife at home until her final days. “There is no way I’m a hero. I am not an angel, and I’m certainly not a saint,” Saling told KSBY News.
At Smith’s in St. George, Utah, 80-year-old Gary Saling is a familiar face — always bagging groceries with a smile. But, behind the uniform is a life story few shoppers know. Saling once designed multimillion-dollar mansions for Wall Street elites and served Hollywood royalty. Now, he’s still clocking in to pay off $80,000 in medical bills after caring for his late wife at home until her final days. “There is no way I’m a hero. I am not an angel, and I’m certainly not a saint,” Saling told KSBY News.
Atlantans say tree removal biz scammed them
When you give money to a contractor for home improvements or repairs, you expect that work to be completed. However, some Atlanta residents learned the hard way that things don’t always work like that. They have reportedly waited seven years for a trial date after being allegedly scammed by Angela Hodges, who ran a tree removal business called Don’s Tree Experts. Hodges, who is accused of defrauding her customers, once again attempted to postpone a recent pretrial hearing at DeKalb County Superior Court claiming she was ill. However, she showed up to the courtroom after the judge issued a bench warrant, WSB-TV Atlanta Channel 2 reports. She is being charged with felony counts of theft by taking and theft by deception. "As soon as I got released from the hospital, I did show. And the judge took the information and is willing to hear our side of the story to get the case moving forward," she told reporter Justin Gray. A motions hearing on the criminal charges is slated for September with an estimated trial date in October. Hodges told the news network all of her unhappy clients have been refunded, though it's unclear whether that’s true and if it encompassed every case against her. An April 2023 report from FOX 5 says that she promised to pay back six DeKalb County customers in exchange for a six-year probated sentence. At least one customer was not hopeful. Consumer advisor Clark Howard says it's hard for people to get their money back in situations like this. As he explained to WSB-TV, “The cases are hard to prove. They’re hard to investigate. And so consumers are left without any help at all. Your money is gone."
When you give money to a contractor for home improvements or repairs, you expect that work to be completed. However, some Atlanta residents learned the hard way that things don’t always work like that. They have reportedly waited seven years for a trial date after being allegedly scammed by Angela Hodges, who ran a tree removal business called Don’s Tree Experts. Hodges, who is accused of defrauding her customers, once again attempted to postpone a recent pretrial hearing at DeKalb County Superior Court claiming she was ill. However, she showed up to the courtroom after the judge issued a bench warrant, WSB-TV Atlanta Channel 2 reports. She is being charged with felony counts of theft by taking and theft by deception. "As soon as I got released from the hospital, I did show. And the judge took the information and is willing to hear our side of the story to get the case moving forward," she told reporter Justin Gray. A motions hearing on the criminal charges is slated for September with an estimated trial date in October. Hodges told the news network all of her unhappy clients have been refunded, though it's unclear whether that’s true and if it encompassed every case against her. An April 2023 report from FOX 5 says that she promised to pay back six DeKalb County customers in exchange for a six-year probated sentence. At least one customer was not hopeful. Consumer advisor Clark Howard says it's hard for people to get their money back in situations like this. As he explained to WSB-TV, “The cases are hard to prove. They’re hard to investigate. And so consumers are left without any help at all. Your money is gone."
Buried device raise privacy fears in Queens
A Queens woman found what looked like a phone buried in her front lawn — but it wasn’t just lost property. Mary Kehoe, who’s lived in her Forest Hills home for 35 years, spotted the strange device outside. It looked like an Android phone wrapped in black tape, with only the camera exposed — like it was made to watch, not call. “Why us? I had lots of things going through my head as to why they chose our lawn but realized we are in the middle of the block,” Kehoe told KTVZ 21. Experts warn that these kinds of planted devices may be part of a growing tactic used by burglars to spy on homeowners, tracking their daily routines or scouting for valuables. And it’s not just an isolated case — similar incidents have popped up across the Tri-State Area. Here’s how to identify these devices and what to do if one shows up in your yard.
A Queens woman found what looked like a phone buried in her front lawn — but it wasn’t just lost property. Mary Kehoe, who’s lived in her Forest Hills home for 35 years, spotted the strange device outside. It looked like an Android phone wrapped in black tape, with only the camera exposed — like it was made to watch, not call. “Why us? I had lots of things going through my head as to why they chose our lawn but realized we are in the middle of the block,” Kehoe told KTVZ 21. Experts warn that these kinds of planted devices may be part of a growing tactic used by burglars to spy on homeowners, tracking their daily routines or scouting for valuables. And it’s not just an isolated case — similar incidents have popped up across the Tri-State Area. Here’s how to identify these devices and what to do if one shows up in your yard.
Making $55K and feeling broke? Break the cycle
Imagine you’re a 29-year-old professional making $55,000 a year, but you pay $1,850 in rent and $300 in student loan payments each month. On top of that, you still have other expenses, such as utilities and groceries, and you want to buy a car to help you get around. It can feel like you’re stuck living paycheck to paycheck with little to no room for savings. Is this an impossible situation to get out of? Let’s break it down.
Imagine you’re a 29-year-old professional making $55,000 a year, but you pay $1,850 in rent and $300 in student loan payments each month. On top of that, you still have other expenses, such as utilities and groceries, and you want to buy a car to help you get around. It can feel like you’re stuck living paycheck to paycheck with little to no room for savings. Is this an impossible situation to get out of? Let’s break it down.
Arizona commissioner exposes utility's math error
A freshman Arizona Corporation Commissioner refused to back down in a public meeting with one of the state’s largest utilities — and got them to come clean about their mistake. Commissioner René Lopez, who holds a degree in nuclear engineering and is a former Chandler City Council member, raised concerns about one of Arizona Public Service’s (APS) calculations during a discussion earlier this year about a potential rate adjustment for customers. The exchange featured Lopez repeatedly questioning the company’s math, while APS insisted multiple times that their numbers were correct. “I realize I’m new here, but I’m really concerned this is not accurate,” he said in footage shown by 12 News in a story published May 23. Here’s how Lopez’s persistence won the day, and why consumer advocates want to see more of this type of behavior from public servants.
A freshman Arizona Corporation Commissioner refused to back down in a public meeting with one of the state’s largest utilities — and got them to come clean about their mistake. Commissioner René Lopez, who holds a degree in nuclear engineering and is a former Chandler City Council member, raised concerns about one of Arizona Public Service’s (APS) calculations during a discussion earlier this year about a potential rate adjustment for customers. The exchange featured Lopez repeatedly questioning the company’s math, while APS insisted multiple times that their numbers were correct. “I realize I’m new here, but I’m really concerned this is not accurate,” he said in footage shown by 12 News in a story published May 23. Here’s how Lopez’s persistence won the day, and why consumer advocates want to see more of this type of behavior from public servants.
Florida housing market slows dramatically
The previously hot real estate market of southwest Florida has recently seen a worrying slowdown. Properties that would typically sell quickly are now sitting unsold for months, sparking concerns among homeowners and real estate professionals. Darleen Strange has been trying to sell her mother's home in Fort Myers since last November. “It makes me wonder, is it ever gonna happen?” she told WINK News. “It's been on the market for about 157 days. We've only had four people come look at it.” Data suggests the situation in southwest Florida may be an indicator of broader challenges in the real estate market across the state.
The previously hot real estate market of southwest Florida has recently seen a worrying slowdown. Properties that would typically sell quickly are now sitting unsold for months, sparking concerns among homeowners and real estate professionals. Darleen Strange has been trying to sell her mother's home in Fort Myers since last November. “It makes me wonder, is it ever gonna happen?” she told WINK News. “It's been on the market for about 157 days. We've only had four people come look at it.” Data suggests the situation in southwest Florida may be an indicator of broader challenges in the real estate market across the state.
Vegas couple busted for $57M luxury car scam
A Las Vegas couple promised investors eye-popping returns on exotic cars and boats they claimed would be resold to wealthy buyers overseas, but the police now allege these buyers never existed. According to a 94-page arrest warrant obtained by 8 News Now, Jong Rhee, 45, and Neelufar Rhee, 34, were arrested on May 22, 2025 and are facing dozens of charges for setting up a multi-million dollar fraud scheme that allegedly netted $57 million through their businesses, Twisted Twins Motorsports and Lusso Auto Spa. Investigators say the couple pitched investors on luxury vehicles and boats supposedly destined for high-paying clients in countries like Singapore, where import restrictions could supposedly generate enormous profits. In one case, Jong Rhee told investors a $57 million investment could yield $2.5 billion, but police say there’s no evidence that any overseas buyers were ever contacted. Among the high-end items involved in the alleged scheme were luxury cars from Bugatti, Rolls-Royce and Porsche, as well as a $3.9 million boat that Jong Rhee said he could sell for $13.5 million.
A Las Vegas couple promised investors eye-popping returns on exotic cars and boats they claimed would be resold to wealthy buyers overseas, but the police now allege these buyers never existed. According to a 94-page arrest warrant obtained by 8 News Now, Jong Rhee, 45, and Neelufar Rhee, 34, were arrested on May 22, 2025 and are facing dozens of charges for setting up a multi-million dollar fraud scheme that allegedly netted $57 million through their businesses, Twisted Twins Motorsports and Lusso Auto Spa. Investigators say the couple pitched investors on luxury vehicles and boats supposedly destined for high-paying clients in countries like Singapore, where import restrictions could supposedly generate enormous profits. In one case, Jong Rhee told investors a $57 million investment could yield $2.5 billion, but police say there’s no evidence that any overseas buyers were ever contacted. Among the high-end items involved in the alleged scheme were luxury cars from Bugatti, Rolls-Royce and Porsche, as well as a $3.9 million boat that Jong Rhee said he could sell for $13.5 million.
Discover the top 5 happiest states for retirees
One of the great perks of reaching your golden years is the newfound freedom to live wherever you choose. With the kids out of the house and work no longer tying you down, retirement opens the door to relocating to a place that better suits your lifestyle. So, why not consider moving to a state where seniors report the highest levels of happiness? Caring.com, a leading online resource for senior care information and support, has just unveiled its latest Senior Happiness Index, a comprehensive look at where older Americans are thriving. To compile the index, experts evaluated a range of things that boost quality of life in retirement. These included each state’s overall happiness score, cost of living, average life expectancy, access to health care, physical and mental health status of residents over age 60, and the availability of senior centers and support services. The result is a state-by-state breakdown highlighting where older Americans enjoy the greatest well-being. Whether you're thinking about where to retire or simply curious about how your state stacks up, here’s a closer look at the five states that topped the rankings.
One of the great perks of reaching your golden years is the newfound freedom to live wherever you choose. With the kids out of the house and work no longer tying you down, retirement opens the door to relocating to a place that better suits your lifestyle. So, why not consider moving to a state where seniors report the highest levels of happiness? Caring.com, a leading online resource for senior care information and support, has just unveiled its latest Senior Happiness Index, a comprehensive look at where older Americans are thriving. To compile the index, experts evaluated a range of things that boost quality of life in retirement. These included each state’s overall happiness score, cost of living, average life expectancy, access to health care, physical and mental health status of residents over age 60, and the availability of senior centers and support services. The result is a state-by-state breakdown highlighting where older Americans enjoy the greatest well-being. Whether you're thinking about where to retire or simply curious about how your state stacks up, here’s a closer look at the five states that topped the rankings.
Moneywise Digest