Trump Media & Technology Group on Friday said it may spin off its Truth Social app into a separate, publicly traded business as it moves forward with a $6 billion merger with fusion energy company TAE Technologies.
In a statement, Trump Media said that the spinoff, if approved, would occur after the merger with TAE is completed, and shareholders would be given stock in the newly separated business. Truth Social would then merge with another company, Texas Ventures III, a special purpose acquisition company formed in 2024 to acquire or merge with other businesses.
According to Trump Media’s most recent proxy, President Trump owns 52% of the company’s outstanding shares. Mr. Trump, who has 11.8 million subscribers on Truth Social, is seen as the platform’s greatest asset.
Spinning off Truth Social would represent another strategic shift for Trump Media & Technology Group, which launched in 2021 as a business focused on the conservative-leaning social media space. Since its debut, Truth Social hasn’t gained much traction with advertisers, with the platform’s revenue dipping 4% in the quarter ended Sept. 30, according to its most recent quarterly report.
Over the past year, Trump Media has branched into financial services, debuting several investment funds and buying $2 billion in bitcoin to create a cryptocurrency reserve. The company pivoted again in December when it said it would merge with TAE Technologies, seeking to fund a fledgling industry that is aiming to power energy-hungry artificial intelligence data centers.
Trump Media cautioned that it is only exploring a possible spinoff of Truth Social, noting that it is “engaged in ongoing discussions” about the plan. The company didn’t disclose a date or timeframe for deciding on whether to proceed with such a transaction.
Trump Media shares — which trade under the ticker symbol “DJT,” Mr. Trump’s initials — have dropped roughly 18% this year. The stock rose less than 1% to $11.02 in early trading on Friday.
NEW YORK — Target will stop selling its entire assortment of cereal with certified synthetic colors by the end of May.
The move, announced Friday, underscores the acknowledgment that American consumers and the U.S. government under President Donald Trump are paying attention to what goes into packaged foods.
The Minneapolis-based discounter said it had been phasing out synthetic colors in cereals for several years, and currently nearly 85% of its cereal sales already come from products made without certified synthetic dyes. Some of the artificial food dyes detailed by Target are being reviewed by U.S. Food and Drug Administration like Red No. 40, Yellow No. 5 and 6 and Blue No. 1.
Target said that it has worked with national brands and its private brands to reformulate products as needed. Some cereals will have updated formulations, and many others already meet its new cereal assortment standard for no certified synthetic colors, the retailer said.
“We know consumers are increasingly prioritizing healthier lifestyles, and we’re moving quickly to evolve our offerings to meet their needs,” said Cara Sylvester, Target’s executive vice president and chief merchandising officer, in a statement.
Target said that reformulating its cereal line builds on the foundation Target established in 2019 with the launch of its store label food brand Good & Gather, which is made without artificial flavors and sweeteners, synthetic colors or high fructose corn syrup. The brand has more than 2,500 products across dairy, produce, ready made pastas meat as well as baby and toddler food.
In recent months, major food companies such as Kraft Heinz, Nestle and Conagra Brands have pledged to eliminate petroleum-based synthetic dyes in coming years.
General Mills also announced last year that it plans to remove artificial dyes from all of its U.S. cereals and all foods served in K-12 schools by the summer of 2026. It is also looking to eliminate the dyes from its full U.S. retail portfolio by the end of 2027.
Last October,Walmart said it plans to remove synthetic food dyes and 30 other ingredients, including some preservatives, artificial sweeteners and fat substitutes, from its store brands sold in the United States by January 2027.
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Scotiabank reports $2.3B Q1 profit, up from $993M a year earlier
Bank of Nova Scotia (TSX:BNS)
Numbers for its first quarter:
Profit: $2.30 billion (up from $993 million a year ago)
Revenue: $9.65 billion (up from $9.37 billion)
The Bank of Nova Scotia reported $2.30 billion in first-quarter net income, up from $993 million a year earlier. The bank says the profit amounted to $1.73 per diluted share for the quarter ended Jan. 31, up from 66 cents per diluted share in the same period a year earlier.
Revenue totalled $9.65 billion, up from $9.37 billion.
Scotiabank says its provision for credit losses was $1.18 billion for the quarter, up from $1.16 billion a year earlier.
On an adjusted basis, Scotiabank says it earned $2.05 per diluted share in its latest quarter, up from $1.76 a year earlier.
The average analyst estimate had been for an adjusted profit of $1.95 per share, according to LSEG Data & Analytics.
EQB reports lower first quarter adjusted net income of $85.2M, raises dividend
EQB (TSX:EQB)
Numbers for its first quarter:
Profit: $85.2 million (down from $116.2 million a year ago)
Revenue: $306.8 million (down from $322.6 million)
EQB Inc. reported adjusted net income of $85.2 million for the first quarter, down from $116.2 million during the same period a year earlier. On a per-share basis, that amounted to adjusted earnings of $2.26, down from $2.98 a year earlier.
The owner of EQ Bank says its adjusted net interest income came in at $263.4 million, down from $270.6 million in the prior year quarter.
EQB says its adjusted revenue was $306.8 million during the period, down year over year from $322.6 million.
Chadwick Westlake, the CEO of EQB, says the company is energized to close its acquisition of PC Financial, announced in December of last year, and partner with Loblaw Companies.
EQB also raised its dividend by 16% year over year, now sitting at 59 cents per common share.
National Bank reports $1.25B Q1 profit, up from $997M a year earlier
National Bank of Canada (TSX:NA)
Numbers for its fourth quarter:
Profit: $1.25 billion (up from $997 million a year ago)
Revenue: $3.89 billion (up from $3.18 billion)
National Bank of Canada reported a first-quarter profit of $1.25 billion, up from $997 million a year earlier, helped by its acquisition of Canadian Western Bank. The bank says the profit amounted to $3.08 per diluted share for the quarter ended Jan. 31, up from $2.78 in the first quarter of 2025.
Revenue totalled $3.89 billion, up from $3.18 billion a year earlier.
National Bank’s provision for credit losses amounted to $244 million for the quarter, down from $254 million a year earlier.
On an adjusted basis, National Bank says it earned $3.25 per diluted share in its latest quarter, up from an adjusted profit of $2.93 a year earlier.
Analysts on average had expected an adjusted profit of $2.99 per share, according to LSEG Data & Analytics.
BMO Financial Group reports $2.49B Q1 profit, up from $2.14B a year earlier
BMO Financial Group (TSX:BMO)
Numbers for its fourth quarter:
Profit: $2.49 billion (up from $2.14 billion a year ago)
Revenue: $9.82 billion (up from $9.27 billion)
BMO Financial Group reported a first-quarter profit of $2.49 billion, up from $2.14 billion a year earlier. The bank says its profit amounted to $3.39 per diluted share for the quarter ended Jan. 31, up from $2.83 per diluted share in the same quarter last year.
Revenue for the quarter totalled $9.82 billion, up from $9.27 billion a year earlier.
The bank’s provisions for credit losses for the quarter amounted to $746 million, down from $1.01 billion.
On an adjusted basis, BMO says it earned $3.48 per diluted share in its latest quarter, up from an adjusted profit of $3.04 per diluted share a year earlier.
Analysts on average had expected an adjusted profit of $3.20 per share in the quarter, according to LSEG Data & Analytics.
RBC reports $5.79B first-quarter profit, up from $5.13B a year earlier
Royal Bank of Canada (TSX:RY)
Numbers for its fourth quarter:
Profit: $5.79 billion (up from $5.13 billion a year ago)
Revenue: $17.96 billion (up from $16.74 billion)
Royal Bank of Canada reported a first-quarter profit of $5.79 billion, up from $5.13 billion a year earlier. The bank says the profit amounted to $4.03 per diluted share for the quarter ended Jan. 31, up from $3.54 per diluted share a year earlier.
Revenue totalled $17.96 billion, up from $16.74 billion.
RBC’s provision for credit losses for the quarter amounted to $1.09 billion, up from $1.05 billion a year earlier.
On an adjusted basis, the bank says it earned $4.08 per diluted share in its latest quarter, up from an adjusted profit of $3.62 per diluted share a year earlier.
The average analyst estimate had been for an adjusted profit of $3.85 per share, according to LSEG Data & Analytics.
TD reports $4.04B Q1 profit, up from $2.79B a year earlier
TD Bank Group (TSX:TD)
Numbers for its fourth quarter:
Profit: $4.04 billion (up from $2.79 billion a year ago)
Revenue: $16.59 billion (up from $14.05 billion)
TD Bank Group reported a first-quarter profit of $4.04 billion, up from $2.79 billion a year earlier. The bank says the profit amounted to $2.34 per diluted share for the quarter ended Jan. 31, up from $1.55 per diluted share last year.
Revenue totalled $16.59 billion, up from $14.05 billion.
TD’s provision for credit losses amounted to $1.04 billion, down from $1.21 billion a year ago.
On an adjusted basis, TD says it earned $2.44 per diluted share in its latest quarter, up from $2.02 per diluted share a year earlier.
The average analyst estimate had been for a profit of $2.26 per share, according to LSEG Data & Analytics.
PANAMA CITY — Panamanian investigators carried documents Thursday out of offices belonging to a Hong Kong-owned company that operated ports at either end of the Panama Canal until its concession was declared unconstitutional by the Supreme Court last month.
Public prosecutor Azael Samaniego, of the anti-corruption office, told local media outlets that visits were made to three offices of the Panama Ports Company in Panama City and that the Panama Maritime Authority and investigators from the National Directorate of Judicial Investigation also participated. The Panama Ports Company is the local subsidiary of Hong Kong-based CK Hutchison.
Samaniego said his office had information pointing to the possible commission of a crime, but he did not specify what the crime could be. He said an investigation was in its early stages.
The Panama Ports Company did not respond to requests for comment, nor did Panamanian law enforcement agencies.
The investigation comes days after the Maritime Authority seized the Balboa and Cristobal ports from the Panama Ports Company. The company has previously rejected the court’s ruling and the Chinese government has accused Panama’s government of bowing to United States pressure.
The ports, which have been operated by the company since 1997, became embroiled in a legal dispute after getting caught in the middle of the U.S. and China’s competition for influence in the region.
The Trump administration objected to the ports being controlled by a Chinese company and accused China of running the canal, something both Panama and China deny.
If disaster were to strike, would you have enough insurance to repair or replace your home?
Many homeowners take out a policy for the amount their lender requires to purchase the house and then never check on their coverage limits again. Unfortunately, this may leave them at risk of being underinsured and unable to rebuild after a loss.
Here’s how you can make sure you have enough insurance to replace your house, and why rebuilding costs can rise dramatically depending on where you live.
How to use our home replacement cost calculator
While every home is different, you can get a sense of the average cost to replace a house like yours. Enter your state, your county and the square footage of your home, and the calculator will consider several factors, including the cost of labor and building materials in your area, to provide an estimate.
What is the replacement cost of your home?
The replacement cost of your home isn’t the same as the market value of your house. Depending on the housing market in your area, your home might sell for more than it would cost to rebuild on your land, or it might sell for less. The cost of new construction also may not be a reliable gauge, because rebuilding can involve extra expenses like demolition, cleanup and site preparation.
This is why rebuilding costs are a better way to estimate how much homeowners insurance you need.
The median cost per square foot to rebuild a home in the U.S. is $280, according to a NerdWallet analysis of residential rebuild cost data provided by First Street, a climate risk modeling firm. This equates to a cost of about $410,000 to rebuild a typical U.S. home.
But replacement costs can vary significantly from state to state, due in part to differences in local labor and materials prices. For instance, the median cost to rebuild in Louisiana is $331 per square foot, NerdWallet’s analysis shows, while Nebraska homeowners pay about $248 per square foot.
Factors that go into estimating home replacement cost
The primary factors that determine rebuilding costs are the price of building materials and labor in your area. Those two things can fluctuate for a few reasons, including inflation and labor shortages. Tariffs and natural disasters can also influence the cost of rebuilding your home.
When estimating replacement costs, try to also factor in specifics about your home that could make restoring it more expensive. These include:
Your home’s age. Historic homes have features that can be costly to restore. Older homes may also have systems that need to be replaced to meet modern building codes.
Your house style. Certain architecture or dwelling details could be expensive to recreate, like vaulted ceilings or storybook flourishes on your home’s trim.
House foundation type. A walkout or finished basement may mean more cost to your rebuild’s bottom line because these require extra excavation and reinforcement.
House features. High-end finishes in bathrooms or top-of-the-line cabinetry and appliances in kitchens can contribute extra to rebuild costs.
Why figuring out the replacement cost of your home matters
Understanding how much it would cost to replace the structure of your home is crucial to avoiding underinsurance. Unfortunately, not having enough homeowners insurance to cover a significant loss is not an uncommon scenario.
For example, researchers at the University of Colorado analyzed 5,000 policyholders who filed claims after the Marshall Fire swept through the Boulder suburbs in December 2021. Data showed 74% of these policyholders were underinsured. More than a third of the underinsured policyholders had coverage that fell significantly short, leaving them on the hook for 25% or more of the amount they would need to replace or repair their damaged homes.
Choosing replacement cost coverage
Once you’ve determined what your dwelling coverage should be, there are options to ensure your homeowners policy limits meet your needs.
Inflation guard
Inflation guard is a supplemental coverage that automatically raises your policy’s coverage limits to account for inflation. This is sometimes included standard or offered as an endorsement for an additional fee. It typically increases your dwelling coverage by 2% to 4% each year to account for rising inflation, which means your premiums may go up accordingly.
Extended replacement cost coverage
Even though most homeowners policies include replacement cost coverage, it may not be enough in some cases — for example, if rebuilding costs soar after a natural disaster in your area. Extended replacement cost coverage pays an additional percentage over your limit (anywhere from 10% to 50%) if your house is destroyed by a covered loss and the cost to rebuild exceeds your policy’s dwelling coverage limits.
Guaranteed replacement cost coverage
Guaranteed replacement coverage is usually expensive and not all insurers offer it, but it’s exactly what it sounds like. Your insurer will pay whatever it costs to rebuild your home and restore it to the condition it was in before the loss.
Example: Say the structure of your house is insured for $400,000. Here’s how upgrading to other types of coverage could change how much your insurer would pay to rebuild your home. (The table below assumes that extended replacement cost adds an additional 25% of coverage.)
Extended replacement cost
Guaranteed replacement cost
Whatever it takes to restore your home
Ordinance or law coverage
This kind of insurance may be particularly helpful if you have an older home. Ordinance or law coverage pays for the additional costs of complying with current building codes if you have to rebuild. Some insurers offer ordinance or law coverage up to 10% of your dwelling limit, so check with your agent to see if your policy already covers this.
Netflix said on Thursday that it will not match Paramount Skydance’s latest bid for Warner Bros. Discovery, clearing the way for a massive merger that could shake up the entertainment and media industry.
Netflix agreed in December to buy part of Warner Bros. Discovery for $27.75 a share, or $82.7 billion. But Paramount Skydance had made a $30 a share all-cash offer to buy all of the company, and on Tuesday raised its offer for Warner Bros. Discovery to $31 a share (Paramount Skydance owns CBS News.)
Earlier on Thursday, Warner Bros. Discovery’s board of directors notified Netflix that Paramount’s $31 per share offer constituted a “superior proposal” for the company.
“The transaction we negotiated would have created shareholder value with a clear path to regulatory approval,” Netflix co-CEOs Ted Sarandos and Greg Peters said in a statement Thursday. “However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.”
Paramount Skydance didn’t immediately respond to a request for comment.
Warner Bros. Discovery owns streaming and film studios, along with cable channels including CNN, Food Network, HBO, HGTV, TBS, TNT and Turner Classic Movies.
The merger of Paramount Skydance and Warner Bros. Discovery will require approval from federal antitrust enforcers. Paramount Skydance executives have said that combining the companies would benefit consumers and help boost the entertainment industry, which has struggled to recover from the pandemic.
Some entertainment industry groups and lawmakers have raised concerns that uniting two major Hollywood studios could undermine competition.
For its part, Paramount Skydance executives had argued that a union of Netflix and Warner Bros. Discovery, which owns streaming platform HBO Max, was likely to arouse antitrust objections.
In enhancing its offer this week, Paramount Skydance said it would pay a $7 billion termination fee if its acquisition of Warner Bros. Discovery collapsed over regulatory concerns.
Mortgage rates continue to be at the lowest level we’ve seen in a few years. It’s welcome news for homeowners looking to refinance, since they can react quickly to rate shifts. But will these numbers stick around long enough to help prospective home buyers who remain at the mercy of tight inventories and heavy competition?
The average rate on a 30-year fixed-rate mortgage was at 5.87% APR in the week ending Feb. 26, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point. Yes, this is modestly higher week-over-week, but this still has us (along with most everyone else reporting on mortgage rates) at the lowest level since September 2022. Even Freddie Mac’s weekly survey, which is retrospective and tends to be slow to reflect shifts, is officially below 6%.
Judging by the usual frontstage indicators — inflation data, Federal Reserve antics — mortgage rates should be rising. That means we have to look behind the scenes to understand why rates have been falling. Brace yourself, it’s about to get wonky.
The answer starts with Treasury yields
We need to start by understanding how lenders determine mortgage rates. The Federal Reserve doesn’t set mortgage rates, but Fed decisions and the overall economic environment are major factors. These influence stock and bond markets, and bond markets in particular are key to mortgage rates. Here’s how that relationship works.
The primary vs. secondary mortgage market
The mortgage market has two levels. The primary mortgage market is consumers taking out home loans. The secondary market is what happens next: Lenders generally sell the loans, using that income to make new loans. The biggest buyers of those loans are government-sponsored enterprises Fannie Mae and Freddie Mac, which buy conforming, conventional mortgages (by far the most common loans in the U.S.).
Fannie and Freddie turn bundles of comparable loans into mortgage-backed securities (MBS), which are investments that act sort of like bonds, paying investors a fixed return based on the rates of the mortgages in the pool. This whole process keeps the mortgage market moving.
What’s a spread?
Mortgage rates are typically benchmarked to the yield on the 10-year Treasury note, yes, even though most mortgages have much longer terms. Most folks will sell or refinance their home loans at some point, so the 10-year note is a fair comparison.
In theory, that means MBS and 10-year T-notes attract the same crowd of investors. But MBS are inherently riskier than Treasuries because, like we just said, mortgage borrowers can refinance, sell early, or default. Because of that risk, as well as the added costs associated with making home loans, mortgage rates are always higher than the 10-year Treasury yield to compensate investors. This difference is called the spread.
Treasury yields have fallen in recent days, as investors reacted not just to the Supreme Court’s Feb. 20 tariff ruling but to the president’s response. Fears of a trade war promptly triggered a “flight to safety,” with investors moving from stocks into bonds (like those Treasury notes). When demand for bonds rises, prices go up and yields fall. (Bond payments are fixed, so when prices increase, the return as a percentage of the price — a.k.a. the yield — drops.) There’s that wonkiness I promised.
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The spread narrows
Since mortgage rates are tied to 10-year Treasury yields, falling yields help explain lower mortgage rates. But focusing on that tariff reaction doesn’t explain why we saw 30-year rates starting with fives before Feb. 20. There’s more going on here.
Mortgage rates and Treasury yields move together, but they aren’t always perfectly parallel lines. Mortgage rates can move up or down due to other drivers, which can widen or narrow the spread. Again, the spread compensates investors for taking on the additional risk of MBS relative to T-notes. If MBS become more attractive to investors and command less of a premium, the spread will narrow, bringing mortgage rates down. Spoiler alert: The spread’s been narrowing.
Mortgage rates can go their lowest when MBS are bought by investors that don’t actually care about the return. If you’re asking, “Who on earth would that be?” it’s buyers like the Federal Reserve. In the case of the Fed, they’re not looking for a monetary return on their investment — they’re trying to stabilize the economy. That’s a major reason we got such low mortgage interest rates in 2020 and 2021: The Fed was buying billions of dollars’ worth of MBS each month. With that type of guaranteed buyer, mortgage lenders can more confidently offer lower mortgage rates.
You might remember that back in January, President Trump ordered a $200 billion purchase of mortgage-backed securities. The order was vague, but Federal Housing Finance Agency Director Bill Pulte later clarified that Fannie Mae and Freddie Mac, government-sponsored enterprises (GSEs), would make the purchase. Critics argued a one-time purchase wouldn’t have much impact compared to the Federal Reserve’s sustained MBS buying during past crises. (For what it’s worth, we saw mortgage rates drop abruptly on the news, but quickly rebound.)
Turns out, Fannie and Freddie stepped in well before January. Throughout 2025, the GSEs bought billions in MBS each month, growing their holdings over the course of the year. Fannie and Freddie also significantly increased their mortgage portfolios — meaning they’re buying mortgages on the secondary market and keeping them on their books instead of packaging them into new MBS.
We don’t know exactly what Fannie Mae and Freddie Mac have bought so far in 2026, but we do know that near the end of January, reports surfaced that FHFA Director Pulte had dramatically raised the caps on the amount of MBS the GSEs can hold. It’s not outside the realm of possibility that the mortgage rates we’re seeing now are the fruits of these GSE actions.
So, will mortgage rates in the 5s stick around?
If we zoom out, average 30-year mortgage rates have been trending downward since May, and rates have stayed below 6.25% since November. This improvement isn’t that new. But psychologically, moving from a rate that starts with six to one that starts with five feels like a huge difference. And if these GSE actions are indeed what’s supporting this lengthy slide, we could quite possibly see these fives last.
When trying to calculate exactly how much time they need to save for, many retirees make a critical mathematical error.
They look at the U.S. average life expectancy of 79 years and assume their money will only need to last for a decade or so after stepping away from a career at age 67. That calculation is one of the most dangerous mistakes you can make.
National life expectancy at birth factors in early-life events and illnesses that naturally pull the overall average down. If you have already successfully navigated your way into your 50s or 60s, that baseline math no longer applies to you. You are a survivor, and your financial runway has likely extended by decades.
The conditional math of aging
Actuaries call this conditional life expectancy. It measures how long you are statistically projected to live after reaching a specific milestone, such as age 65.
For Americans, reaching age 65 means your estimated life expectancy immediately jumps to 84, leaving you with 19 years to fund. This longevity paradox is not just an American phenomenon — it is a global issue. Across the developed world, individuals who reach the traditional retirement age often face an estimated timeline that spans 17 to 20 years.
Country: retirement age, life expectancy at 65, retirement years
The 19-year projected retirement window for the United States is just the new baseline. In America, lifespan is heavily correlated with income and access to healthcare.
Higher-income earners generally benefit from premium preventative care, better nutrition, and safer working conditions. If you have the means to actively build an investment portfolio, you likely fall into a demographic that routinely lives into their late 80s or 90s. Planning for a 19-year retirement is a guaranteed way to outlive your money. You have to plan for the life expectancy of someone in your specific financial bracket, not the national average.
Funding a longer horizon
Knowing you might live to 90 or beyond forces a radical shift in how you manage your investments. The old model of shifting your entire portfolio into conservative bonds the moment you stop working no longer applies. If your retirement is going to last 25 years, your money still needs to grow to outpace inflation.
Maintaining a healthy allocation of equities in your portfolio is mathematically necessary to sustain purchasing power over two or three decades. While bonds provide stability for your immediate cash needs, stocks are the engine that will fund your later years.
Strategies for the extended timeline
Delaying Social Security becomes one of the most powerful tools at your disposal. Every year you wait past your full retirement age, up to age 70, your benefit increases by 8%. Lock in that higher guaranteed payout. It acts as a permanent inflation-adjusted insurance policy against living an exceptionally long life.
You also have to stress-test your withdrawal rate. The famous 4% rule was mathematically designed to make a portfolio last for 30 years. If you retire at 65 and plan to live to 95, it seems like a perfect fit. However, modern financial planners are cautioning against using it as the gold standard.
The rule was created in the 1990s using historical data and does not account for modern market realities such as prolonged periods of high inflation or extended low bond yields. Furthermore, living for three decades means you are almost certain to face several severe market crashes. If the market tanks early in your retirement and you keep withdrawing 4%, you may deplete your principal so fast that your portfolio cannot recover when the market bounces back.
Many economists now suggest a dynamic withdrawal strategy, often starting closer to 3% or 3.5%. By lowering your initial draw, you create a shock absorber for bad market years, ensuring your assets actually survive the extended lifespan you are planning for.
If you have over $100,000 in savings, get advice from a pro long before you plan to retire. SmartAsset offers a free service that matches you to a vetted, fiduciary advisor in less than 5 minutes.
Sounds great, right? Zero income taxes would be awesome. But before we start throwing our W-2s in the shredder, we need a reality check.
Trading income taxes for tariffs isn’t just a heavy lift; economists and tax experts across the board say it’s practically impossible. Here is why this idea will likely remain a political talking point rather than a reality for your wallet.
1. The math simply doesn’t add up
The U.S. federal government runs on massive amounts of cash. In 2022, the government collected roughly $2.14 trillion in individual income taxes. Meanwhile, total U.S. tariff revenue in 2026 is expected to hit $418 billion.
To replace $2 trillion with tariffs, you would have to tax the roughly $3 trillion worth of goods America imports every year at astronomically high rates. As Erica York, vice president of federal tax policy at the Tax Foundation, flatly noted when reviewing the proposal, “The math just doesn’t add up.”
2. Tariffs are just a hidden national sales tax
Politicians love to claim that foreign countries pay for tariffs. That isn’t true now, and it never has been. When the U.S. slaps a tax on imported goods, the foreign exporter doesn’t absorb the cost. The U.S. business importing the goods pays the fee at the border, and they pass that cost directly to you at the checkout counter.
You might have heard lawmakers pitch the “Fair Tax” or a massive national sales tax to replace the IRS. An across-the-board tariff does the exact same thing, just with a different coat of paint. Whether Washington calls it a tariff or a national sales tax, the result is identical: the tax burden shifts from your paycheck to your shopping cart.
We covered this extensively in The Tariff Trap: How You’re Footing the Bill for Global Trade Wars. If we replaced income taxes with tariffs, you wouldn’t be paying less to the government; you’d just be paying your taxes every time you bought groceries, clothes, or electronics.
3. It punishes the middle class
The current federal income tax system is progressive, meaning the wealthiest Americans pay the lion’s share. In fact, the top 1% of earners pay about 40% of all federal income taxes.
Tariffs, on the other hand, are regressive. A 50% price hike on a pair of imported shoes hurts a middle-class family trying to outfit their kids for school far more than it hurts a billionaire. Swapping income taxes for tariffs would effectively act as a massive tax cut for the ultra-wealthy, while shifting the financial burden onto working families who spend a larger percentage of their income on basic goods.
4. High tariffs destroy their own revenue base
There is a fatal flaw in the plan to use tariffs as our primary cash cow. If you raise tariffs high enough to replace trillions in income tax, imported goods will become so outrageously expensive that Americans will simply stop buying them.
If we stop buying imported goods, the government stops collecting tariff revenue. It’s a catch-22. You can’t rely on a tax system that actively destroys the very transactions it needs to survive.
5. Hello, global trade war
If the U.S. places crushing tariffs on every product entering the country, the rest of the world isn’t going to just sit back and watch. They will retaliate by placing identical taxes on American exports.
This would devastate U.S. farmers, manufacturers, and technology companies that rely on selling their products overseas. The resulting economic drag would likely lead to massive job losses here at home.
The bottom line for your budget
While the idea of a zero-percent income tax bracket sounds great on paper, the side effects of replacing it with tariffs would be devastating to the average consumer. For now, you should expect to keep filing your tax returns every April.
The average long-term U.S. mortgage rate slipped this week below 6% for the first time since late 2022, good news for home shoppers as the spring homebuying season gets rolling.
The benchmark 30-year fixed rate mortgage rate fell to 5.98% from 6.01% last week, mortgage buyer Freddie Mac said Thursday. One year ago, the rate averaged 6.76%.
The average rate has been hovering close to 6% this year. This latest dip, its third decline in a row, brings it closer to its lowest level since Sept. 8, 2022, when it was 5.89%.
Mortgage rates are influenced by several factors, from the Federal Reserve’s interest rate policy decisions to bond market investors’ expectations for the economy and inflation. They generally follow the trajectory of the 10-year Treasury yield, which lenders use as a guide to pricing home loans.
The 10-year Treasury yield was at 4.02% at midday Thursday, down from around 4.07% a week ago.
Mortgage rates have been trending lower for months, helping drive a pickup in home sales the last four months of 2025, but not enough to lift the housing market out of its slump dating back to 2022, when mortgage rates began to climb from pandemic-era lows.
Still, with the average rate on a 30-year mortgage now below 6% as the annual spring homebuying season begins, it could encourage prospective home shoppers who can afford to buy at current rates to shop for a home this spring.
“Assuming rates stay below 6%, buyers and sellers are going to start getting back into the market,” said Lisa Sturtevant, chief economist at Bright MLS. “March is when the spring homebuying season typically begins to ramp up and with rates at a three-and-a-half year low, it could be a barn burner of a spring homebuying season.”
Walmart has agreed to pay $100 million to settle allegations that it deceived its delivery drivers about pay, costing them tens of millions of dollars in earnings.
The case, brought by the Federal Trade Commission and 11 states, accused the retailer of misleading workers about the base pay, incentive pay and tips they could earn, the agency said in a press release on Thursday.
Walmart did not immediately respond to a request for comment.
According to the data, Canadians remain under significant financial pressure, with a full 68% expressing concern about the cost of living. Almost a third (30%) of respondents are anxious about money, especially women and those making less than $50K per year, while Generation X worries about their retirement.
Compounding the issue, money insecurity is having a notable effect on how Canadians spend. Forty-two percent reported relying more this year on credit than cash, a 7% increase over last year’s numbers. Additionally, 48% carry debt, and 59% have more debt than last year. More than half (52%) pay off only a little bit more than a minimum amount due, resulting in higher balances—and less resilience for Canadians.
Debt is being normalized
A high cost of living and credit use aren’t new, but consider this: almost half of Canadians (45%) reported feeling “about the same” about their finances. Credit experts say that could be a problem.
“[I]t appears almost half of respondents characterize their feelings about their financial situation as being neutral when compared with last year—in other words, they are feeling numb to it,” states Peta Wales, President & CEO of the Credit Counselling Society in a press release. “Debt remains a source of stress and anxiety, and ongoing financial pressure can lead individuals to become desensitized to change, even as their balances continue to rise.”
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A comprehensive guide for Canadians
Financial paralysis is a term used in the world of finance to describe the effect of money stress on some people. Signs include avoidance, inaction, and shutting down—or numbness. When in this state, simple financial tasks like using a budget, paying bills, or even checking accounts can feel beyond reach. Even worse, a person might overspend to compensate for negative feelings or out of a sense of helplessness. The primary solution—building a solid financial foundation—is a laughable suggestion to someone who’s gone numb.
Snap out of it
There’s no magic bullet for financial paralysis, but there are actionable strategies you can take to maneuver yourself in a strong position. That’s important, because research suggests that just like with compound interest, wins build on wins.
Change your mind
“Just as we learn language, customs, and social norms from the culture around us, we also absorb messages about money,” writes Nathan Astle in Psychology Today. Because of cultural money taboos, it’s difficult to talk about finances, and any perceived failure manifests as guilt and shame.
If you want to find financial (and emotional) stability, it’s worth reaching out for help in this area. Therapists, peers, and support groups can help you untangle your feelings about money, while a financial advisor or credit counsellor can put your portfolio into perspective.
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Change your habits
Although tedious, some money habits just work. Build (and stick to) a realistic budget. Prioritize paying down your debt. Build up an emergency fund.
Change your timeline
You just want a lifeline when you’re drowning in debt. You feel impatient because it’s uncomfortable—and because each passing month you owe even more.
The truth is, paying down debt is a long-term project and you’ll be better off with a realistic sense of what it will take.
Debt doesn’t just drain your bank account—it freezes your decisions. The stress and shame can make avoidance feel safer than action, but inaction only deepens the trap. Luckily, there are ways to get moving again. Face the numbers, make a plan, act consistently, and ask for the help you need.
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Eventually, bringing additional care into the home or exploring a move to a retirement community becomes necessary for everyone’s well being. Yet, many Canadians struggle with how to start these conversations and how to guide their parents through the transition from living independently at home to accessing retirement living support.
Today’s retirement communities look far different from what most parents imagine. Rather than sterile, hospital-like environments, modern communities are vibrant, social, supportive places to live—designed to help seniors enjoy the next stage of life. Still, helping aging parents see retirement living in a new light can be challenging. Financial considerations also play a significant role. Can they afford in-home care? Are retirement home options within reach? What government programs or subsidies are available?
What is retirement living?
The term “retirement home” often brings to mind outdated images of long-term care facilities. In reality, retirement living is about maintaining independence while having access to the right support. It can include services brought into the home—allowing seniors to age in place—or moving into a retirement community where support is available on-site.
Compare the best RRSP rates in Canada
At its core, retirement living focuses on safety, comfort, autonomy, and community. With the proper services in place, seniors can enjoy a high quality of life while still having control over their daily routines.
When do people consider retirement living?
Most seniors begin exploring retirement living when everyday tasks start to feel more physically or mentally taxing. This may include difficulty cooking, cleaning, navigating stairs, managing medications, or moving safely around the home. These changes don’t necessarily mean full-time care is required, they simply suggest that a little extra support could significantly improve daily life.
Types of retirement living
Whether you want to remain at home or move into a care community, understanding the different types of retirement living can help you plan ahead.
Aging in place
Aging in place means bringing the necessary support services directly into the home. This may include:
Housekeeping and household maintenance
Meal preparation
Assistance with bathing and hygiene
Medication management
Companionship and social interaction
Costs vary widely depending on the level of care required—from a few hundred dollars a month for occasional help to thousands per week for full-time or complex care.
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Coordinating care independently can be time-consuming, requiring families to screen, hire, and oversee caregivers. However, private home-care companies can manage this process, and some government services or financial support may be available.
Independent living
Independent living is often the first step into retirement living. It’s ideal for seniors who remain active but appreciate help with meals, housekeeping, and day-to-day responsibilities. Residents enjoy private suites, their own schedules, and as much or as little socialization as they wish.
Independent living works particularly well for couples, especially when one partner needs more support than the other. Many communities offer multiple levels of care on the same property, allowing couples to remain together as needs change.
Costs typically start just under $3,000 per month and include meals, housekeeping, activities, and amenities. When compared with the cost of running a home—utilities, groceries, maintenance, and the potential need for private in-home care—independent living can be surprisingly affordable, especially for homeowners with significant equity.
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Assisted living and long-term care
If care needs become more complex—such as requiring overnight supervision, assistance with medical needs, or regular support with daily tasks—assisted living may be the next step. Long-term care is designed for seniors with more serious medical conditions that require continuous, hands-on support.
Private care homes can range from $3,500 to over $20,000 per month depending on the level of care and services provided. Government-funded options also exist, typically using income-based fee structures to ensure affordability, though waitlists and qualification criteria often apply.
Memory care
Memory living provides secure, specialized support for individuals with Alzheimer’s or dementia. These communities prioritize safety while preserving dignity, autonomy, and quality of life. In many cases, couples can remain in the same community even if only one partner requires memory care.
Costs are similar to other assisted living options, with both private-pay and government-subsidized models available.
Hundreds of thousands of truckers could be removed from American roads under the Trump administration’s newly aggressive enforcement and safety campaign.
President Donald Trump on Jan 24 brought new attention to his administration’s crackdown by highlighting the catastrophic injuries of young Dalilah Coleman, who was severely injured when the car she was riding in was hit by a foreign-born truck driver speeding through a construction zone in California.
Coleman, who was 5 at the time, attended the State of the Union speech on Feb. 24 as a guest of Trump, who noted she has a traumatic brain injury and cerebral palsy as a result of the crash.
“Many, if not most, illegal aliens do not speak English and cannot read even the most basic road signs,” Trump said during his address. “That’s why tonight, I’m calling on Congress to pass what we will call the ‘Dalilah Law,’ barring any state from granting commercial drivers licenses to illegal aliens.”
According to federal officials, the trucker who hit her family’s car had crossed into the United States from Mexico in 2022, was released by the Biden administration and ultimately acquired a commercial driver’s license (CDL) from California.
As with regular driver’s licenses, states can issue CDLs to truckers even if they lack legal permission to live in the country. The White House recently warned states to stop issuing CDLs to unvetted foreigners, with exceptions for Canadian and Mexican truckers who routinely cross the border for deliveries.
Who drives America’s trucks?
There are about 3.5 million licensed truckers in the United States, from bus drivers to RV delivery haulers and over-the-road semi-trailer owners.
The Department of Transportation has also been encouraging states, which oversee CDLs and trucking, to more aggressively enforce existing laws requiring English-language proficiency by drivers.
Earlier this month, federal inspectors proposed closing more than 550 trucking schools after concluding they were largely sham or unqualified operations. Federal officials say there are at least 194,000 licensed motor carriers that could be affected by the crackdown on non-American drivers.
The 37,000-member American Trucking Associations trade group has supported Trump’s efforts, arguing that better trucking enforcement and stronger regulations will help make roads safer for all drivers. CDL holders are subject to strict hour limitations while driving, and must undergo periodic medical checks to ensure they’re safe to drive.
“We support President Trump’s efforts to ensure that only properly trained, fully qualified, and English-proficient drivers are behind the wheel of 80,000-pound commercial motor vehicles,” ATA President and CEO Chris Spear said in a statement. “We stand ready to work with the administration and Congress to advance policies that raise standards and keep our highways safe.”
Cracking down on immigrant CDL-holders
The law proposed by Trump on Jan. 24 would complement a series of regulatory and enforcement changes being implemented by the federal Department of Transportation, which oversees motor carriers.
Although CDLs are generally governed by federal laws and regulations, they are issued by states. Drivers and trucking schools found loopholes in the existing system that allowed some non-citizens to obtain CDLs without background checks of their driving records in the home countries, according to federal officials. In other cases, truckers were illegally getting Mexican trucking licenses and then using those to qualify for reciprocal American CDLs.
Federal officials last summer ordered a temporary halt to issuing CDLs to foreign-born truckers.
“For far too long, America has allowed dangerous foreign drivers to abuse our truck licensing systems – wreaking havoc on our roadways. This safety loophole ends today,” Transportation Secretary Sean P. Duffy said in a statement.
Federal officials said that at least 17 fatal crashes and 30 deaths in 2025 were caused by truckers who would now be ineligible for a CDL under the new rules, which would primarily impact drivers from countries other than Mexico or Canada, whose truckers often operate under a special cross-border system.
American-citizen or green card CDL holders were linked to more than 85,000 injuries and 4,700 fatalities last year, according to federal statistics.
Sikhs critical of the new approach
Critics of the president’s moves say they are aimed at the wrong target: Non-citizen CDL holders accounted for fewer than 2% of all large-truck crashes nationwide last year while accounting for nearly 4% of all CDL holders, according to federal regulatory filings.
Among the strongest critics of the measures are India-born Sikhs, who make up about 150,000 members of the trucking community, according to regulatory data. Tens of thousands of Sikhs sought asylum in the United States during the Biden presidency, many of them crossing the Mexican border without advance permission.
In testimony to federal regulators, some critics also worried the crackdown on foreign drivers would cause them to lose their jobs and homes in one fell swoop ‒ many truckers live in their semis ‒ while raising freight costs from American consumers.
The White House has repeatedly singled out Sikhs truckers as a cause for concern, including California-licensed trucker Harjinder Singh, who is facing charges of causing a fatal Aug. 12, 2025, crash in Florida that killed three people. Federal officials said in a social media post that Singh is an illegal immigrant who does not speak English well enough to have been granted the California CDL he held.
The U.S.-based Sikhs For Justice group has donated $100,000 to the victims in the accident Singh is accused of causing. The group has also proposed donating $1 billion to Trump’s Institute for Peace as a condition of holding a referendum on carving out a homeland for Sikhs from portions of India.
This article originally appeared on USA TODAY: Thousands of truckers, targeted by Trump, could lose licenses
ATLANTA — Federal energy officials on Wednesday announced a record $27 billion loan to electric utilities in Georgia and Alabama, saying the loan will save customers money as the companies undertake a huge expansion driven by demand from computer data centers.
A total of $22.4 billion will go to Georgia Power and $4.1 billion to Alabama Power. Both are subsidiaries of Atlanta-based Southern Company, one of the nation’s largest utilities. The companies plan to use the cash to build new natural-gas fueled power plants, build new transmission lines and upgrade existing power plants.
Energy Secretary Chris Wright said the loan will result in more than $7 billion in savings over decades from a lower, federally subsidized interest rate.
“We’re focused on driving down costs,” Wright said. He added that the loan would help ensure Southern customers “have access to affordable, reliable and secure energy for decades to come.”
Wright says the orders have saved utility customers millions of dollars and helped keep lights on during last month’s winter storm. Critics say the orders are unnecessary and have raised electric bills as utilities keep older, more expensive plants operating.
“These loans will help lower the cost of investments in our grid that will enhance reliability and resilience for the benefit of our customers,” said Chris Womack, Southern’s chairman, president and CEO.
The new loan comes amid scrutiny on rising utility bills, with electricity prices increasing faster than inflation in many states. There is also widespread opposition to new data centers for artificial intelligence.
Trump in his State of the Union Tuesday announced a “ratepayer protection pledge” against higher utility bills tied to AI. He said tech companies will provide their own power as they build data centers. Trump didn’t provide details but claimed prices will go down.
It is unclear whether any tech companies have signed pledges to build their own power plants, but Wright said on a call with reporters Wednesday that “every name you know that’s developing a data center has been in dialogue with us.”
He cited “cooperation” from giants such as Microsoft, Google and Meta, but he didn’t specify any written agreements.
Federal officials have long given utility loans, including $12 billion in loans that the first Trump administration and President Barack Obama’s administration guaranteed for two costly nuclear reactors at Georgia’s Plant Vogtle, partially owned by Georgia Power.
Trump’s tax and budget bill last year reshaped the loan program to focus on increasing capacity to generate and transmit electricity. Loan guarantees under President Joe Biden focused on green energy goals.
Gregory Beard, who directs the newly renamed Office of Energy Dominance Financing, said Wednesday that cutting interest rates and discarding Biden’s policy “will get us back on the right track in terms of affordability.”
The loan office will review individual projects to ensure they’re financially viable, he said. “We’re not going to build this plant or deploy this capital until we are sure that it’s the right thing to do for the local community, for the local ratepayer,” Beard said in an interview.
Those requirements don’t seem to be laid out in loan agreements that Southern released Wednesday. Jennifer Whitfield, an attorney for the Southern Environmental Law Center who represented Georgia Power expansion opponents, said the loans will save money for Georgians, but questioned their wisdom.
“As a taxpayer, it’s hard to avoid the fact that this is a bailout paid for by every taxpaying citizen of the United States,” she said.
Any savings for customers must be approved by the elected Public Service Commissions in Alabama and Georgia. Commissioners last July approved a three-year rate freeze requested by Georgia Power, while commissioners in Alabama approved a two-year rate freeze in December. Company officials tout the freezes when utilities nationwide have been seeking record increases. But opponents complain company-friendly regulators locked in high prices and high utility profits.
Commissioner Peter Hubbard, one of two new Democrats, unsuccessfully tried to roll back approval for Georgia Power’s expansion in recent weeks. He said Wednesday that the declining costs of solar, wind and battery power could make new natural gas plants uneconomic over time.
“It’s locking us into a costlier option,” he said of the federal loan. ”And so I think it just is not meeting the moment of affordability.”
Kalshi on Wednesday said it fined and suspended an employee of the popular YouTuber MrBeast for insider trading, marking one of the first disciplinary actions within the fast-growing prediction market industry.
The case involved bets related to MrBeast’s videos, which were flagged by Kalshi’s surveillance team for their “near-perfect trading success on markets with low odds,” according to the company’s statement.
In a regulatory notice, Kalshi identified the individual behind the wagers as Artem Kaptur, whom the company said was employed as an editor for MrBeast while he traded on non-public information he obtained through his job.
“If you insider trade or manipulate the market, there will be consequences,” Kalshi said in a social media post.
MrBeast, whose real name is Jimmy Donaldson, runs the most popular channel on YouTube, with roughly 468 million subscribers, according to vidIQ.
In a statement to CBS News, Beast Industries, the media company behind MrBeast, said it “has no tolerance for this behavior, whether by contestants or our own employees.”
“With regard to this particular matter, we’ve already initiated an independent investigation as part of our overall ongoing efforts to ensure the integrity of our workplace and trust with our global audiences,” a spokesperson for Beast Industries said.
Insider trading risks
Kalshi and rival prediction markets such as Polymarket allow people to place bets on sports, politics, entertainment and any other events. For example, users can wager on the Super Bowl or which celebrity romances might fall apart.
In recent months, some trades on the sites have prompted speculation about possible insider trading. In January, one unidentified Polymarket user won $436,000 on a bet that appeared to anticipate former Venezuelan President Nicolás Maduro’s capture by U.S. forces.
On Wednesday, Kalshi noted that it has opened 200 investigations into potential insider trading, which is banned on its site, in the past year.
Kaptur was fined $15,000 and ordered to return $5,397.58 in profits related to his trading on Kalshi, according to the company. The prediction market also suspended Kaptur for two years from the site.
Gubernatorial candidate bet on himself
Separately, Kalshi on Wednesday also said it imposed a five-year ban on Kyle Langford, who used the platform to wager $200 on his candidacy for governor of California. Langford was banned from the site for five years and fined $2,000, as well as required to return profits of $246.36.
“Note: this candidate recently announced he is no longer running for Governor and is now instead running for Congress,” Kalshi said in a filing.
In both Kaptur and Langford’s cases, their trades were flagged by Kalshi’s systems, leading its surveillance team to freeze their accounts, the company said.
“Neither trader withdrew any profits. These penalties are not indicative of future penalties — everything depends on the case, including amount traded and rules violated,” the company noted.
Kalshi said it has reported both cases to the U.S. Commodity Futures Trading Commission and will donate the fines to a nonprofit that provides consumer education on derivatives markets.
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ClearOne Advantage is a debt settlement company that negotiates on behalf of consumers to lower how much debt they owe to their creditors.
In this review, I’m going to cover how the settlement process works with ClearOne Advantage, what pros and cons to consider and how to qualify.
But first I want to be clear: Debt settlement is risky. There’s no guarantee of success, and it can seriously damage your credit.
Debt settlement may be an option for those severely overwhelmed by debt. Before opting into a program, NerdWallet recommends exploring other ways to get out of debt, like enrolling in a debt management plan or applying for a debt consolidation loan.
ClearOne Advantage debt settlement at a glance
Minimum debt required to enroll:
$10,000.
Types of debt eligible for enrollment:
Unsecured debt, including credit cards, personal loans, private student loans and unsecured lines of credit.
When you sign up for debt settlement with ClearOne Advantage, you’ll stop making payments on your enrolled debts, if you haven’t already.
You’ll instead make a monthly payment into a dedicated “savings account.” This account is FDIC-insured, and you can monitor it 24/7 via an online portal. ClearOne will work with you to determine the payment amount that’s best for your budget.
As money accumulates in the savings account, ClearOne begins negotiating with your creditors to get them to accept a smaller amount. The idea is that by not paying your creditors at all, they’re more likely to accept some payment instead of risking no payment at all.
If a creditor agrees to the settlement offer proposed by ClearOne, you’ll pay the creditor from the funds in the savings account, and the debt is then considered settled. You repeat this process until all your enrolled debts are settled.
It takes 24 to 51 months, on average, for customers to complete the program, ClearOne says.
🤓Nerdy Tip
Debt settlement companies often list projected savings on their website. These percentages vary significantly and may not include fees, so take them with a grain of salt. ClearOne told NerdWallet that customers can expect to save up to 30% of their enrolled debt after fees. That means if your enrolled debt is $15,000, you could save up to $4,500. Projected savings are never a guarantee.
How much does ClearOne Advantage cost?
The biggest cost of debt settlement is the settlement fee. ClearOne Advantage’s settlement fee is 18% to 29% of the total enrolled debt. This percentage is based on multiple factors, including your state of residence.
Here’s how the settlement fee works: Let’s say you enroll with $20,000 in credit card debt, and you’re able to settle that debt for $9,000. You might pay a settlement fee of up to $5,800 (29% of $20,000). This is in addition to the $9,000 you pay to your creditors. Altogether you’d pay $14,800.
A debt settlement company cannot collect a debt settlement fee until it successfully settles a debt .
Other costs to using ClearOne Advantage include a recurring monthly fee of $17 for the savings account.
Is ClearOne Advantage legit?
ClearOne Advantage is a legitimate debt settlement company founded in 2008. It’s accredited by the Better Business Bureau (BBB) with an A+ rating and holds an accreditation from the Association for Consumer Debt Relief (ACDR) .
It’s important to carefully weigh the pros and cons before deciding whether to work with ClearOne.
Cons
Risky way to get out of debt
Pros of ClearOne Advantage
Free consultation: ClearOne Advantage offers a free no-obligation phone call, so you can get familiar with its debt settlement service. During this call, a debt specialist will analyze your debts and budget and propose a settlement plan, including a monthly payment amount. The specialist may also refer you to other services, like credit counseling or debt consolidation loans, if those are a better fit.
Multiple accreditations: ClearOne is accredited by multiple institutions, like the BBB and ACDR, which help give prospective customers peace of mind. ClearOne also requires its debt specialists to be accredited through the International Association of Professional Debt Arbitrators (IAPDA), a nonprofit organization that helps both consumers and debt settlement companies assess debt relief options.
Wide state availability: ClearOne’s debt settlement program is available in 48 states. This is a larger footprint than most debt settlement companies, which may only offer debt settlement in 40 states or less. Residents in Illinois and Oregon aren’t eligible for ClearOne debt settlement.
Cons of ClearOne Advantage
Higher fees: ClearOne Advantage’s debt settlement fee — 18% to 29% of the total enrolled debt — is higher than other companies, which tend to charge a settlement fee of 15% to 25%. Some companies, like Ascend Debt Relief, may charge a fee as low as 10% for larger debts. A higher settlement fee increases the cost of the program and reduces the amount of savings you’ll see from settlement.
The savings account also comes with a higher maintenance fee of $17. Most account providers charge a maximum fee of $10. However, there’s no one-time enrollment fee for the account, which is unusual.
A risky way to get out of debt: There are risks in working with ClearOne Advantage, including a major hit to your credit, falling deeper into debt as you await a successful settlement negotiation and even the possibility of being sued by a creditor. Learn more about debt settlement risks lower down.
No guarantee of success: Like all debt settlement companies, ClearOne Advantage may not be able to settle all your debts even if you follow the program perfectly. This is because not all creditors accept settlement offers.
Costs add up: When working with a debt settlement company like ClearOne Advantage, you’re charged multiple fees. These fees are in addition to any charges you accumulate from your creditors, like late fees or interest. Consider alternative ways to get out of debt (listed below) that may have fewer fees and cost less overall.
How to qualify for ClearOne Advantage
ClearOne Advantage works with consumers who have at least $10,000 in unsecured debt. This may include credit cards, store cards, personal loans, private student loans and unsecured lines of credit.
It doesn’t settle secured debts, meaning any debt tied to collateral, like an auto loan or mortgage. It also doesn’t settle select federal student loans and some medical debts.
ClearOne says its average customer enrolls with $15,000 to $30,000 in debt.
During the application process, you’ll undergo a soft credit pull, which won’t hurt your credit score. There’s no hard credit check.
Know the risks of debt settlement
It’s important to understand the overall risks of debt settlement before deciding whether to work with ClearOne Advantage.
Organizations like the Consumer Financial Protection Bureau and the Federal Trade Commission urge consumers interested in debt settlement to consider these risks:
It will hurt your credit: Because you’re required to stop making payments on enrolled debts, those accounts will be marked delinquent on your credit reports. Your credit score will take a significant hit, especially if you weren’t already delinquent on those accounts. Delinquencies and settled accounts stay on your credit reports for seven years .
Interest and fees continue to accrue: Until you enter a settlement agreement, you’ll accrue additional interest and late fees on your debt . If you don’t stick with the program to completion, or if the debt settlement company can’t negotiate a settlement, you may end up with an overall higher balance.
You may still hear from creditors or debt collectors: There’s no guarantee your creditors will want to work with a debt settlement company, and you may be contacted by debt collectors or sued by creditors during the process .
Forgiven debt may be considered taxable income: Forgiven debts over $600 may be counted as income on your taxes . Creditors may send a 1099-C form to you in the mail and to the IRS. One exception is if you are insolvent (your liabilities exceed your total assets) at the time the company settles with your creditors.
Freedom Debt Relief vs ClearOne Advantage
Freedom Debt Relief and ClearOne Advantage are two large debt settlement companies that help negotiate with your creditors.
Freedom accepts smaller debts, starting at $7,500, and it charges a smaller settlement fee (15% to 25% of the total debt enrolled). It also comes with unique perks for customers, including free access to a network of attorneys, in case you’re sued by a creditor, and a program guarantee that refunds fees if you don’t save money with settlement.
However, Freedom is only available in 39 states. ClearOne’s program may also lead to higher savings at 30% of enrolled debt, compared to Freedom’s average of 28%.
Alternatives to hiring a debt settlement company
Do-it-yourself debt settlement
Though it may seem easier to have a third party, like a debt settlement company, intervene on your behalf, you could have just as much success calling your creditors and negotiating with them yourself — and you can save thousands by not having to pay a settlement fee.
Same as with using a debt settlement company, success isn’t guaranteed, but if you owe only a few creditors, it’s worth a try.
With a debt management plan, you’ll work with a nonprofit credit counseling agency to consolidate your debts into one monthly payment, while also reducing the interest rate.
This is a good option for consumers with credit card debt who have a steady income to repay the debt within three to five years.
Unlike debt settlement, a debt management plan should help build your credit score.
By taking out a debt consolidation loan, you can pay off multiple debts at once, so you’re left with only one payment on your new loan.
These loans are available to borrowers across the credit spectrum, and you can often pre-qualify with lenders to see your rates with a soft credit check.
A debt consolidation loan should have a lower interest rate than your current debts, which saves money and helps you get out of debt faster.
Bankruptcy lets you resolve your debt under protection from a federal court.
Chapter 7 bankruptcy, the most common form, erases most unsecured debts in four to six months. It’ll also stop calls from collectors and prevent lawsuits against you.
Like with debt settlement, your credit will suffer, so consult a bankruptcy attorney first.
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As my parents aged, my sister and I talked a lot about where Mom would go when Dad passed away. My sister’s house? My house? Assisted living?
We only discussed Mom because my father would obviously go first. He was not only older, but not nearly as healthy. He was legally blind; Mom had to drive him around and take care of him. It wasn’t a problem; she was healthy, happy and in great shape.
Then one Monday morning, Mom took a nap in her favorite chair, and she didn’t wake up.
We’d never considered that scenario as remotely possible. And that’s the thing about life: Just when you think you’ve got it figured out, you find out you don’t.
As they say, people plan and God laughs.
I’ve talked to a lot of people about their retirement plans over the years. Most tell me they’ll keep working until they hit 65 or 67. Many have a spreadsheet mapping it all out. They figure they’ll max out their Social Security benefits and build a massive portfolio before finally calling it quits.
And often it works out that way. Other times, not so much.
The gap between when we expect to retire and when we actually do is one of the most consistent findings in financial research. If you’re building your entire financial future on the assumption that you’ll work into your late 60s, you need a backup plan.
The numbers don’t lie, and they tell a story you need to hear.
The gap between expectation and reality
There isn’t a single official retirement age tracked by the government, but the major surveys all point to the same truth. According to a Gallup poll on retirement timing, the average age when Americans retire is 61 or 62. Meanwhile, non-retired folks expect to keep working until they’re 66.
That’s a massive disconnect.
The 2025 Retirement Confidence Survey summarized by Kiplinger from the Employee Benefit Research Institute (EBRI) paints a similar picture. Workers reported a median expected retirement age of 65. But when you ask actual retirees, the median age they left the workforce was 62.
Even more telling is what happens at the extremes. In that same EBRI survey, 30% of workers said they expect to retire at 70 or later or simply never stop working. Yet only 9% of actual retirees did that.
Conversely, just 12% of workers plan to retire before 60, but 27% of retirees said that’s exactly what happened to them.
Why we leave the workforce early
You might think retiring early sounds like a dream. For some, it is. The EBRI data shows that among those who retired earlier than planned, 44% did so because they could afford to. That’s the ideal scenario.
But for the rest, early retirement wasn’t a choice. It was forced on them.
Health problems: According to the survey, 31% of early retirees pointed to a health problem or disability as the reason they had to stop working. You can’t plan for a sudden illness, but it happens all the time.
Company changes: Another 31% cited changes at their employer. That means layoffs, downsizing or a business closing its doors. If you lose your job in your early 60s, finding another one that pays the same isn’t easy. Many older workers eventually give up the job hunt and simply declare themselves retired.
This destroys the popular strategy of planning to work a few extra years to make up for a lack of savings. You can’t just assume your employer will keep you around or your body will cooperate.
The myth of working in retirement
Here’s another assumption that gets people in trouble. A massive 75% of workers in the EBRI survey said they plan to work for pay in retirement. They think they’ll pick up a fun part-time job or consult on the side to bring in some extra cash.
The reality? Only 29% of retirees actually do it.
If your financial plan relies on earning a paycheck after you officially retire, you’re taking a massive gamble. When health issues pop up or those part-time jobs don’t materialize, you’ll be left with a serious hole in your budget.
How to protect yourself
The takeaway here isn’t to panic. It’s to be realistic. You need to stress-test your financial plan for an early exit.
1. Save more right now: Don’t assume you have another decade to catch up. Push as much cash into your investment accounts as you can stomach while you’re still earning a steady paycheck.
2. Understand Social Security: You need to know what happens if you’re forced to claim early. Taking benefits at 62 permanently reduces your monthly check compared to waiting until your full retirement age. (You can read more about the impact of claiming early in “4 Dave Ramsey Rules for Claiming Social Security at 62.”)
3. Plan for the health care gap: If you retire at 62, you still have three years before Medicare kicks in at 65. Finding private health insurance to bridge that gap can be brutally expensive, though there are ways to cover health care costs for an early retirement. Factor those costs into your projections.
4. Build flexibility: The people who survive an unexpected early retirement are the ones who didn’t pin all their hopes on a single target date. Keep your debts low and your options open.
You can now move Chase Ultimate Rewards® points to Wyndham Rewards — but it’s generally not a good option.
Beginning Feb. 25, 2026, eligible Chase cardholders can transfer Chase Ultimate Rewards® points to Wyndham at a 1:1 ratio. This addition makes Wyndham the 14th transfer partner for Chase Ultimate Rewards®, and the first new partner since Chase added Air Canada Aeroplan in 2021.
Why it’s generally not the best use of points
While more options are always good, transferring Chase points to Wyndham likely only makes sense in a few cases.
NerdWallet values Wyndham Rewards at 0.7 cent per point. That’s much lower than most of Chase’s other transfer partners, including World of Hyatt, Southwest Airlines and United Airlines, meaning you’ll usually get better value by transferring points to those programs.
If you only get 0.7 cent per point with Wyndham, you’d be better off redeeming your Chase Ultimate Rewards® points for cash back at 1 cent per point and using those funds to pay for your stay. In addition to being a better value for your points, this will also let you earn more points when you use your credit card to book.
But transferring Chase points to Wyndham can make sense if:
You can find a redemption that gets you more than 1 cent per point. While high-value redemptions in excess of 1 cent per point do exist, they’re rare. Only 15% of Wyndham Rewards redemption options in the past year have delivered that value, according to February 2026 data from Gondola shared with NerdWallet.
Despite the low average valuation, the Wyndham Rewards program does have some notable features. My personal favorite is the simple three-tier award chart, where you’ll pay either 7,500 points, 15,000 points or 30,000 points per bedroom per night. There’s no dynamic pricing, making it easy to plan a future redemption. Wyndham also generally doesn’t charge those pesky resort fees on free nights, which can lead to some real savings.
Additionally, points can be redeemed at over 9,000 hotels, vacation club resorts and rentals worldwide, providing a broad footprint to book award stays. While most of Wyndham’s portfolio includes budget hotels like Days Inn and Super 8, that’s substantially more options than the approximately 1,400 properties you’ll find with World of Hyatt, Chase’s most valuable transfer partner.
You need to top off your account. Transferring Chase points to Wyndham could also make sense if you need to top off your account for an award stay. For example, if you already have 10,000 Wyndham points and you’re looking at a stay that costs 15,000 points, that could be a good time to transfer 5,000 Chase points to Wyndham.
How to access Chase’s transfer partners
Chase Ultimate Rewards® was named NerdWallet’s best credit card points program for travel in 2026. That’s largely due to the ability to get outsized value for your points through Chase’s transfer partners.
Full list of Chase transfer partners Full list of Chase transfer partners
Airlines
Aer Lingus (1:1 ratio).
Air Canada (1:1 ratio).
Air France-KLM (1:1 ratio).
British Airways (1:1 ratio).
Iberia (1:1 ratio).
JetBlue (1:1 ratio).
Singapore (1:1 ratio).
Southwest (1:1 ratio).
United (1:1 ratio).
Virgin Atlantic (1:1 ratio).
Hotels
Hyatt (1:1 ratio).
IHG (1:1 ratio).
Marriott (1:1 ratio).
Wyndham (1:1 ratio).
To access Chase’s transfer partners, you’ll need one of these cards:
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
Earn 150,000 bonus points after you spend $20,000 on purchases in your first 3 months from account opening.
Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
• 5x points on all Chase Travel℠ purchases (exclusions apply).
• 5x on Lyft rides and Peloton equipment (for a limited time; terms apply).
• 2x points on all other travel.
• 3x points on dining, takeout and eligible delivery worldwide.
• 3x points for online grocery purchases (exclusions apply).
• 3x points on some streaming services.
• 1x point on all other purchases.
• 8 points per $1 spent on all travel booked through Chase.
• 4 points per $1 spent on bookings directly through an airline or hotel.
• 3 points per $1 spent on dining, takeout and eligible delivery worldwide.
• 1 point per $1 spent on all other purchases.
8 points per $1 on all purchases booked through Chase, including The Edit.
5 points per $1 on Lyft rides through 9/30/27.
4 points per $1 spent on flights and hotels booked direct.
3 points per $1 on social media and search engine advertising.
1 point per $1 on all other purchases.
• 3 points per $1 on the first $150,000 spent on travel, shipping, select advertising, internet, cable and phone services business categories each account anniversary year.
• 5 points per $1 spent on Lyft rides through Sept. 30, 2027.
NEW YORK — The World Trade Center’s final office tower will start construction as soon as this spring and become American Express ‘ new headquarters, Gov. Kathy Hochul and the company said Wednesday, marking a milestone nearly 25 years after the Sept. 11 attacks destroyed the site.
The 2 World Trade Center building will round out the long, tortuous redevelopment of the original 16-acre trade center property. There remains no construction date for a neighboring apartment building to replace another 9/11-damaged skyscraper.
But the 2 World Trade Center announcement represents a big step, physically and symbolically, in fulfilling a pledge of renewal at ground zero. Hochul and other officials also trumpeted the project as a sign of New York’s continued vitality as a business hub. It comes as Florida and other states have been trying to woo companies from New York.
“Building 2 World Trade Center will bring another iconic skyscraper to Lower Manhattan, create thousands of good-paying union jobs and provide billions in economic benefits to New Yorkers,” Hochul, a Democrat, said in a statement.
American Express CEO Stephen Squeri called the skyscraper “an investment in our company’s future, our colleagues and the Lower Manhattan community,” where the credit card giant has been based for nearly 200 years. Its current headquarters is just west of the trade center.
The trade center was decimated when al-Qaida hijackers crashed jets into its twin towers, part of a coordinated attack that also sent planes into the Pentagon and a field near Shanksville, Pennsylvania. Nearly 3,000 people were killed, mainly at the trade center.
Fraught with physical, financial and political complexities and public debate over what to build, redevelopment unfolded gradually and hit numerous roadblocks. But over time, the signature 1 World Trade Center skyscraper, other towers, the Sept. 11 memorial and museum, a transit hub -cum-shopping center and a performing arts center were built on the property, owned by the Port Authority of New York and New Jersey.
The 55-story, roughly two-million-square-foot (186,000-square-meter) 2 World Trade Center building is planned at the site’s northeastern corner. The spot is currently occupied by a low placeholder building, covered with colorful graffiti-style murals, and a beer garden.
American Express declined to discuss the cost of the new building — which the company will own, leasing the underlying land — but said it doesn’t involve any tax incentives. Messages seeking further information about the costs and financing of the project were sent to officials.
Plans once envisioned a skyscraper soaring as high as 80 stories, and News Corp. and the former Twenty-First Century Fox were among companies that at points eyed moving there. Like some other trade center components, the project labored for years to secure financing and an anchor tenant. The task grew tougher when the coronavirus pandemic emptied offices in 2020 and raised questions about companies’ future space needs.
Silverstein Properties CEO Lisa Silverstein, who is the 94-year-old developer’s daughter, hailed American Express as “an iconic institution embodying the strength, resilience, and global significance of the project.”
The company plans to occupy the entire Norman Foster -designed building, a sleek structure of glassy sections interspersed with landscaped terraces and gardens. It’s expected to accommodate up to 10,000 workers; American Express declined to say how that compares to its current headquarters.
