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Jaspreet Singh: Don't Do These 5 Dumb Things With Your Money Ashley DonohoeAugust 15, 2025 at 9:32 PM instaphotos / iStock.

- - Jaspreet Singh: Don't Do These 5 Dumb Things With Your Money

Ashley DonohoeAugust 15, 2025 at 9:32 PM

insta_photos / iStock.com

The Charles Schwab 2025 Modern Wealth Survey found that 27% of Americans didn't think they could become financially comfortable within their lifetimes, while another 25% felt it was only possible with some changes.

Read Next: Suze Orman: 3 Biggest Mistakes You Can Make as an Investor

Learn More: 8 Things You Must Do When Your Savings Reach $50,000

If you're wondering why you're not in a good financial situation, it might not simply be your income or too many impulse purchases. In a recent video, attorney and finance expert Jaspreet Singh explained five less obvious money mistakes you might be making and provided tips to make wiser choices.

Trending Now: Suze Orman's Secret to a Wealthy Retirement--Have You Made This Money Move?

Lacking Priority for Your Money

Singh said that some people are focusing on the wrong things given their financial situation. He used the stages of crawling, walking and running to illustrate changing money priorities.

If you owe high-interest debt, you would fall into the crawling category, and your focus should be on paying off the debt that's costing you money rather than investing. Singh explained that your credit card rate might be from 15% to 28%, which is far higher than the 10% average return on stocks.

After that debt is gone, you'd enter the walking stage, where you need to have a $2,000 emergency fund for your financial security. You can then move on to the running stage and start investing in assets that help you build wealth. Another YouTube video from Singh included recommendations like dividend stocks, real estate and exchange-traded funds.

Check Out: The $50 Mistake Warren Buffett Says Everyone Should Avoid

Thinking Your Credit Score Means Wealth

As of March 2025, Experian reported that 23% of Americans had at least an 800 FICO score, which put them in the top "excellent" category. While many people strive for this score, Singh explained that it doesn't make you rich or reflect your assets, education or career success.

"Here's the reality: Your credit score really does not matter," Singh said. "All it is is an indication of how good you are in paying your bills, and it doesn't even do the best job at that."

He did note that good credit can make it easier to get loans, buy a house or score a better interest rate, but the associated debt can also make it harder to build wealth. That's especially true when you're financing things that depreciate, like cars.

Living Fake Rich

Singh said many people buy things that will continually cost them money rather than help them build wealth. For example, you might have a high salary and buy an expensive home to show off. But even if that house appreciates and you pay off the loan, you'll still have to cover ongoing costs for property taxes, insurance, utilities, maintenance and more.

To avoid falling into this trap, carefully consider affordability for your home purchase and follow Singh's suggested 75-15-10 rule for your income. The 75% represents your maximum spending rate for all expenses, while you'd invest at least 15% and save 10% of your earnings.

Singh also advised against seeing your house as an investment and explained that more of your payments will go toward interest than principal payoff for many years. He recommended looking into additional assets, like businesses and rental properties, that can grow your wealth.

Not Investing in Yourself

Singh said a common mistake is not using any of the money you have to invest in yourself, which can cause you to lose time or miss the chance to make more money.

One option is to hire people to do certain tasks, like driving you to work, mowing your lawn or cleaning your house. Even if you gain only a few extra hours, outsourcing these tasks might be what allows you to start a side hustle or simply enjoy time with your family.

Another is investing in books, classes and other forms of education, which Singh said might significantly pay off if you can boost your earnings. He added that a growth versus scarcity mindset is important for this decision.

"You have to be willing to actually spend that money and know when it's okay to let go of that money if it's going to bring you more value in return," Singh explained.

Plus, you can invest in yourself by spending money on actual investments. Singh said some people keep their money in bank accounts out of fear of the risks of investing, but they lose given the low return, income taxes due and inflation.

He recommended having a long-term mindset for investing and carefully researching your options, such as index funds. Warren Buffett is also a proponent of investing in low-cost index funds and holding on to them, which he said makes the most sense when investing, CNBC reported.

Investing Like You're in Vegas

Impatience with investing can also get people in trouble. For example, new investors may turn to riskier picks like crypto and options in hopes of a fast return rather than invest in more traditional assets over a few decades. Singh explained that this mistake can lead to losing everything.

"So, you got to decide: Do you want to have that rush and excitement and never build wealth, or do you want to have the long-term sustainable wealth, not have the rush and the excitement, but actually have the potential to build real wealth with much less risk?" he said.

If you've made this mistake, Singh suggested trying the safer route. Being consistent and patient with investing is the key.

byCosmopolite

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August 15, 2025

Jaspreet Singh: Don’t Do These 5 Dumb Things With Your Money

Jaspreet Singh: Don't Do These 5 Dumb Things With Your Money Ashley DonohoeAugust 15, 2025 at 9:32 PM instaphotos / iStock. ...

Bola Sokunbi: How To Build an Emergency Fund Without Blowing Up the Rest of Your Financial Plan Laura BogartAugust 15, 2025 at 9:30 PM Virten Media / Bola SokunbiQuestion 9 of GOBankingRates' Top 100 Money Experts Series How do I build an emergency fund that fits into my financial plan? You can just...

- - Bola Sokunbi: How To Build an Emergency Fund *Without* Blowing Up the Rest of Your Financial Plan

Laura BogartAugust 15, 2025 at 9:30 PM

Virten Media / Bola SokunbiQuestion #9 of GOBankingRates' Top 100 Money Experts Series

How do I build an emergency fund that fits into my financial plan?

You can just picture it now: You're cruising down the highway when suddenly your car starts making noises you definitely don't want it to make. Or you've just gotten paid, and right as you sit to pay your bills, your cat chooses that exact moment to hork up a hairball concerning enough to warrant a trip to the emergency vet — and since he doesn't have a job, he can't exactly cover the cost. So, you get it: You need an emergency fund.

For You: 8 Smart Ways Frugal People Are Living Like There's Already a Recession

Learn More: 3 Advanced Investing Moves Experts Use to Minimize Taxes and Help Boost Returns

But the thought of squirreling away extra cash while you're trying to make ends meet — or even build real wealth — can feel like taking a match to your careful financial plans. Bola Sokunbi understands your concerns. As a certified financial education instructor and the founder of Clever Girl Finance, one of the largest personal finance platforms for women in the U.S., she knows how stressful it can be to develop a financial plan that works for you — including how to fit in an emergency fund.

Fortunately, she also knows how to sidestep those worries and create a realistic, sustainable strategy that lets you build for the future without neglecting life's inevitable curveballs.

Trending Now: Suze Orman's Secret to a Wealthy Retirement--Have You Made This Money Move?

Figure Out the Amount You Actually Need

Instead of stressing about socking away a massive amount of money, Sokunbi wants you to focus on what's realistic for your life. That starts with figuring out the right amount to keep in your emergency fund. This number depends on your lifestyle and fixed financial responsibilities. Sokunbi encourages you to think about essential recurring monthly expenses like rent or mortgage, utilities, transportation, and the minimum payments on any debt.

Once you have that number, aim to create an emergency fund with three to six months' worth of those key expenses. If you're self-employed or your income isn't steady, Sokunbi recommends saving closer to six months' worth to give yourself more breathing room.

"As for where to keep [your money], I always recommend a high-yield savings account," she said. "It keeps your money safe, earns a bit of interest, and, most importantly, is easily accessible when life throws something unexpected your way."

Read Next: Clever Ways To Save Money That Actually Work in 2025

You Don't Have To Choose Between Financial Goals

Now, you might come away from doing that math with a sense of sticker shock over what three-to-six months of expenses adds up to. There go your plans to pay off debt, invest for the future, or finally boost your retirement contributions — right?

Sokunbi wants you to relax — don't panic. She acknowledges that it's common to feel torn between building an emergency fund and achieving other financial goals. Rest assured, though, you don't have to pick just one — you can make steady progress across multiple fronts by starting small and shifting your focus over time.

"Start by putting a small buffer — $1,000 to $1,500 — in savings to cover small emergencies, while contributing a small amount of your income to retirement savings — for example, 5% of your income or at least enough to get any employer match," she said. "Then shift some focus to paying down high-interest debt. After that, you can add to your emergency fund gradually while still contributing to long-term goals like retirement. It's okay to rotate your focus — it's all progress."

This approach helps you avoid getting stuck in "either-or" thinking and allows you to approach your finances with a sense of balance. You don't have to do everything at once — just keep moving forward.

Small Wins Now Can Mean Big Gains Later

If you're already working with a tight budget or even starting from scratch, you can still build an emergency fund that doesn't derail your other financial goals. Sokunbi recommends automating small transfers to keep you in the habit of adding to your fund. Even $5 or $10 a week adds up over time.

She's also a fan of funneling extra money, like a tax refund, bonus or even a cash-back reward, straight into your emergency fund before you have a chance to think about spending it elsewhere.

Sokunbi advocates for mindfulness in money matters — you can stay motivated and continue making progress with small yet meaningful mindset tricks. "Naming the account something motivational like 'Peace of Mind Fund' can also help you stay committed," she said. "It's not about perfection — it's about building a habit that sticks."

Bottom Line

Having enough money set aside for emergencies is essential to any financial plan — not to mention your peace of mind. While you might worry that building your emergency fund will come at the expense (quite literally) of your other financial goals, Bola Sokunbi wants you to know it's absolutely possible to do both.

With some small steps, smart habit-builders, and a little flexibility, you can protect yourself today while planning for tomorrow.

This article is part of GOBankingRates' Top 100 Money Experts series, where we spotlight expert answers to the biggest financial questions Americans are asking. Got a question of your own? You could win $500 just for asking — learn more at GOBankingRates.com.

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August 15, 2025

Bola Sokunbi: How To Build an Emergency Fund Without Blowing Up the Rest of Your Financial Plan

Bola Sokunbi: How To Build an Emergency Fund Without Blowing Up the Rest of Your Financial Plan Laura BogartAugust 15, 2025 at 9:3...

I Used to Think a 529 Was the Perfect Educational Savings Vehicle, Until I Learned These Drawbacks Chris MacDonaldAugust 15, 2025 at 9:34 PM For many families, 529 plans are considered the ideal way to save for education, offering taxfree growth, state tax benefits, and flexible usage for college, K...

- - I Used to Think a 529 Was the Perfect Educational Savings Vehicle, Until I Learned These Drawbacks

Chris MacDonaldAugust 15, 2025 at 9:34 PM

For many families, 529 plans are considered the ideal way to save for education, offering tax-free growth, state tax benefits, and flexible usage for college, K–12 tuition, apprenticeships, and even student loan repayment. These tax-advantaged accounts are widely promoted as a smart, long-term investment in a child's future.

However, despite their benefits, 529 plans come with drawbacks that are often overlooked. From strict withdrawal rules to potential tax penalties and investment limitations, these challenges can significantly impact a family's financial strategy. While recent expansions have broadened their scope, some restrictions remain that may not make them the best fit for every saver.

Before committing to a 529 plan, it's important to fully understand its limitations and weigh these plans against alternative education savings options. This article explores three major drawbacks that could make families rethink their reliance on 529 plans, and why a more flexible approach to education savings might be worth considering.

Penalties for Non-Qualified Withdrawals

Tax penalty words written on ripped cardboard paper piece with orange background. Conceptual tax penalty symbol. Copy space.

The word "tax penalty" on a piece of cardboard

As with any savings plan, in which invested funds are supposed to be directed toward a future obligation, taking money out of this designated pot of capital comes alongside a slap on the wrist.

In fact, withdrawing funds from a 529 plan for non-qualified expenses can result in significant penalties. The earnings portion of such a withdrawal is subject to a 10% federal penalty, in addition to any state-specific penalties, which includes California's 2.5% state income tax penalty and varying penalties in some other states.

Furthermore, the earnings within a 539 plan are taxed as ordinary income at the federal, state, and local levels. What this ultimately means is that the value of a given withdrawal is further reduced, limiting its benefit for those who put capital into this plan to begin with. In terms of devising a plan structure that will keep folks invested for the long-term, that's one of the upsides of this investing vehicle.

Now, if a given beneficiary receives a scholarship, enrolls in a U.S. Military Academy, becomes disabled, or passes away, the 10% penalty is waived. That said, there may be some income tax implications for those who withdraw these funds that will apply to the earnings portion within the 529 plan.

There Can Be Financial Aid Implications

Graduation cap university or college degree on US dollars banknotes pile. Education expense budget plan of money saving, student loan or debt, personal loan, scholarship for studying abroad concept.

Student debt visual

Aside from saving for college via 529 plans and other investing vehicles, the hope many parents have is that they'll raise their children to truly be the best and brightest out there. If that's the case, scholarships and other financial aid options can help these youngsters get through the expensive (yet fun) period of their lives, with as little financial strain as possible.

Unfortunately, there can be some negative impacts with regard to 529 plans and how they affect students' application processes for financial aid.

Parent-owned 529 plans are treated as parental assets on the FAFSA, with only up to 5.64% of the account value factored into the Expected Family Contribution (EFC). This can lead to a slight reduction in need-based aid.

However, if a student owns the account, up to 20% of its value is considered, significantly affecting aid eligibility. Grandparent-owned accounts which previously counted as untaxed student income will no longer impact financial aid under the 2024-2025 FAFSA rules.

Additionally, withdrawals for qualified education expenses are not reported as income on the FAFSA, ensuring they don't reduce aid eligibility in later years. Using 529 plans strategically and spending funds before applying for aid or covering expenses not met by other aid sources can minimize its impact while maximizing its tax-free benefits.

Limited Investing Options and High Fees

529 college savings plan theme with textbooks and piggy bank and green chalkboard background

529 visual

One thing most investors (myself included) do not appreciate are high fees when it comes to any investment. I invest consistently in ETFs, and one of my key criteria I focus on when I look at competing plans is how they match up in terms of fees.

Unfortunately for investors in some 529 plans, the options are limited. One might suggest that the options are intentionally tilted toward some offerings with much higher-than-average fees.

Of course, every plan is different, and most will have some ultra-low-cost ETF options investors can choose from to put capital away for their children's education. But with various IRS restriction to changes to investment options twice per calendar year, this is a key consideration to make before putting forward one's elections for a given 529 plan.

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August 15, 2025

I Used to Think a 529 Was the Perfect Educational Savings Vehicle, Until I Learned These Drawbacks

I Used to Think a 529 Was the Perfect Educational Savings Vehicle, Until I Learned These Drawbacks Chris MacDonaldAugust 15, 2025 ...

Democrats post chart of US grocery prices in swipe at Trump — but it backfired. Here's what they missed Jing PanAugust 15, 2025 at 8:24 PM President Donald Trump speaks to the media at Trump Turnberry golf club in Turnberry, Scotland, July 28, 2025.

- - Democrats post chart of US grocery prices in swipe at Trump — but it backfired. Here's what they missed

Jing PanAugust 15, 2025 at 8:24 PM

President Donald Trump speaks to the media at Trump Turnberry golf club in Turnberry, Scotland, July 28, 2025.

We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links.

Over the past few years, Americans have felt the sting of rising grocery bills. While there are many factors behind food inflation, the Democratic Party tried to pin the blame squarely on the current commander in chief, President Donald Trump.

In a now-deleted post, the X account for the Democratic National Committee shared a chart claiming "U.S. Grocery Prices Reached Record Highs in 2025," noting that prices were "higher today than they were on July 2024 [in all] major categories." The caption? Just two words: "Trump's America."

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But the post quickly backfired.

Users on X pointed out that the chart showed data stretching from October 2019 to early 2025 — and the steepest rise in prices clearly occurred in 2021, when Joe Biden was in office.

While this may go down as a major social media blunder, it doesn't change one harsh truth: grocery prices have surged. And while the pace of increase may be slowing, many essential items are still significantly more expensive than they were just a few years ago.

According to the June 2025 Consumer Price Index report from the Bureau of Labor Statistics, the food index went up 3.0% over the past 12 months. Beef and veal prices surged 10.6%, chicken rose 3.9%, and eggs spiked a whopping 27.3%.

Zoom out, and the picture is even grimmer: since the beginning of 2020, the food index has climbed 30%. Economists often point to COVID-era supply chain disruptions, stimulus checks and loose monetary policy as key contributors to the inflation spike in 2021.

But regardless of who's in power, one reality remains: inflation quietly erodes your purchasing power.

The good news? Savvy investors have long turned to certain assets to shield their wealth from inflation's bite. Here's a look at how they do it.

Gold

Gold has helped people preserve their wealth throughout history. Today, its appeal is simple: unlike fiat currencies, the yellow metal can't be printed at will by central banks.

It's also widely regarded as the ultimate safe haven. Gold is not tied to any one country, currency or economy, and in times of economic turmoil or geopolitical uncertainty, investors often flock to it — driving prices higher.

Over the past 12 months, the price of the precious metal has surged around 35%.

Ray Dalio, founder of the world's largest hedge fund, Bridgewater Associates, has repeatedly emphasized gold's importance in a resilient portfolio.

"People don't have, typically, an adequate amount of gold in their portfolio," he told CNBC earlier this year. "When bad times come, gold is a very effective diversifier."

One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, thereby combining the tax advantages of an IRA with the protective benefits of investing in gold, making it an option for those looking to help shield their retirement funds against economic uncertainties.

When you make a qualifying purchase with Priority Gold, you can receive up to $10,000 in precious metals for free.

Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund — even if you're not a millionaire. Here's how to get started with as little as $10

Real estate

Gold isn't the only asset investors rely on to preserve their purchasing power. Real estate has also proven to be a powerful hedge.

When inflation rises, property values often increase as well, reflecting the higher costs of materials, labor and land. At the same time, rental income tends to go up, providing landlords with a revenue stream that can adjust with inflation.

Over the past five years, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index has jumped by more than 50%, reflecting strong demand and limited housing supply.

Of course, high home prices can make buying a home more challenging, especially with mortgage rates still elevated. And being a landlord isn't exactly hands-off work — managing tenants, maintenance and repairs can quickly eat into your time (and returns).

The good news? You don't need to buy a property outright — or deal with leaky faucets — to invest in real estate today. Crowdfunding platforms like Arrived offer an easier way to get exposure to this income-generating asset class.

Backed by world-class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns or handling difficult tenants.

The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase, and then sit back as you start receiving any positive rental income distributions from your investment.

Another option is Homeshares, which gives accredited investors access to the $35-trillion U.S. home equity market — a space that's historically been the exclusive playground of institutional investors.

With a minimum investment of $25,000, investors can gain direct exposure to hundreds of owner-occupied homes in top U.S. cities through their U.S. Home Equity Fund — without the headaches of buying, owning or managing property.

With risk-adjusted target returns ranging from 14% to 17%, this approach provides an effective, hands-off way to invest in owner-occupied residential properties across regional markets.

Stretch your dollars on everyday essentials

At the end of the day, grocery inflation is just one piece of the puzzle. From rent and utilities to gas and dining out, the cost of living has climbed across the board — leaving many Americans feeling squeezed.

That's why it's more important than ever to keep a close eye on your spending — and look for savings where you can.

One simple way to do that? Use platforms like the Upside cash-back app to save on everyday essentials like gas and groceries.

After downloading the app, simply claim offers at locations near you. For example, users can earn up to 25 cents back per gallon on fuel, helping to ease the sting at the pump.

Plus, you can also get a bonus 25 cents off per gallon with the code MONEYWISE25 on your first transaction when you sign up.

byCosmopolite

in

August 15, 2025

Democrats post chart of US grocery prices in swipe at Trump — but it backfired. Here's what they missed

Democrats post chart of US grocery prices in swipe at Trump — but it backfired. Here's what they missed Jing PanAugust 15, 20...

WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia Anusuya LahiriAugust 15, 2025 at 8:25 PM WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia WeRide (NASDAQ:WRD) stock gained on Friday after it announced that Grab (NASDAQ:GRAB) will take a strategic equit...

- - WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia

Anusuya LahiriAugust 15, 2025 at 8:25 PM

WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia

WeRide (NASDAQ:WRD) stock gained on Friday after it announced that Grab (NASDAQ:GRAB) will take a strategic equity stake as part of a deeper partnership to speed up the deployment and commercialization of Level 4 Robotaxis and shuttles across Southeast Asia.

The deal, expected to close by mid-2026, supports WeRide's plan to expand its autonomous vehicle fleet and advance AI-driven mobility in the region.

Under the agreement, WeRide will integrate its autonomous driving technology into Grab's fleet management, vehicle matching, and routing systems to boost service quality, safety, and operational efficiency.

Also Read: Singapore's Grab Eyes $2 Billion Loan To Finance $7 Billion GoTo Deal

Both companies will also train and upskill driver-partners and local communities for high-value careers in the AV industry.

The partnership outlines a scalable framework for optimizing dispatch and routing, maximizing vehicle uptime, ensuring safety through local traffic training, enabling remote monitoring, and providing rapid customer support.

It builds on their March 2025 MoU to explore AV feasibility, market potential, and job creation, combining WeRide's technical expertise with Grab's regional scale to roll out thousands of Robotaxis in line with local regulations and market readiness.

WeRide stock plunged 32% year-to-date, weighed down by at least three consecutive quarters of losses.

Meanwhile, WeRide expanded its Robotaxi service with Uber Technologies (NYSE:UBER) in Abu Dhabi, adding Al Reem and Al Maryah Islands to its network in partnership with the Integrated Transport Centre. The rollout now covers half of the city's urban core and is expected to double ride volumes.

Since December 2024, WeRide has tripled its Abu Dhabi fleet and plans to scale to hundreds of vehicles this year, extending into Khalifa City, Masdar City, and more downtown districts. The fleet uses WeRide's mass-produced GXR autonomous vehicles, designed for commercial use, with each completing dozens of trips daily.

Price Actions: WRD shares are trading higher by 3.21% to $9.96 premarket at last check Friday. GRAB is down 0.19%.

byCosmopolite

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August 15, 2025

WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia

WeRide Lands Grab Investment To Speed Robotaxi Rollout In Southeast Asia Anusuya LahiriAugust 15, 2025 at 8:25 PM WeRide Lands Gra...

Older Americans may be losing money by taking Social Security early — what most overlook about when to claim Chris ClarkAugust 15, 2025 at 8:30 PM Many Americans claim Social Security too early — and lock in lower benefits for life.

- - Older Americans may be losing money by taking Social Security early — what most overlook about when to claim

Chris ClarkAugust 15, 2025 at 8:30 PM

Many Americans claim Social Security too early — and lock in lower benefits for life.

You've worked hard, paid into Social Security for decades and can almost taste the freedom of retirement. But one decision — when to claim your benefits — could mean the difference between traveling with your grandkids or tightening your belt for the rest of your life.

All that considered, claiming Social Security too early can shrink your retirement income by thousands of dollars a year. Many Americans seem unsure about when to start drawing from their benefits to supplement their income during their golden years.

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Picking the wrong age to retire could mean shortchanging yourself for decades. But when is the right time to claim Social Security? The answer comes down to one surprisingly simple but deeply personal factor: how long you expect to live.

Two-thirds of surveyed Americans said they would pay more attention to their finances if they knew more about their longevity needs, according to a recent Nationwide Retirement Institute survey. That suggests many lack crucial knowledge about the best time to claim Social Security or maximize benefits.

Why life expectancy matters more than most people think

The government lets you claim Social Security as early as 62. But the longer you wait — up to age 70 — the more you get every month. Your full retirement age, where you receive 100% of your benefit, is currently between 66 and 67, depending on your birth year.

Here's how that plays out. If you claim Social Security at age 62, your monthly check could be reduced by up to 30%. If you wait until 70, you could increase your monthly benefit by 24% or more compared to claiming at full retirement age.

That math makes delaying sound like a no-brainer, but it only pays off if you live long enough to collect the extra money.

The Social Security Administration says the average life expectancy at 65 in 2024 was 20.9 more years for women and about 18.3 more years for men. Using those numbers, the breakeven point — when delaying starts to net you more money — typically falls between 77 and 80. Live beyond that, and waiting means more lifetime income.

But that's the tricky part: nobody knows exactly how long they'll live.

When do most Americans actually retire?

Despite the financial benefits of delaying, most Americans retire far earlier. The U.S. Census Bureau says the average retirement age for men is 65, and for women, it's about 62. If many of those retirees take Social Security around that time, they lock in reduced benefits for life.

Why do they do it? Some need the money. Others don't realize the long-term impact. Often, it's because they haven't considered the question that may matter most: What if I live longer than expected?

First, consider your health and family history. If your parents lived into their 80s or 90s and your health is solid, it might make sense to delay claiming to maximize lifetime benefits.

Second, check your savings. Can you bridge the gap until 67 or even 70 without tapping into Social Security? If so, the higher monthly check might be worth the wait.

And remember to factor in your spouse. For married couples, delaying the higher earner's benefit can significantly boost survivor benefits if one spouse passes away.

Finally, don't forget other income sources. Social Security is just one piece of the retirement puzzle. A strong 401(k), IRA or pension can give you the breathing room to delay claiming.

Is there a magic number to retire comfortably?

It depends on your lifestyle, but a common rule of thumb is that you'll need 70% to 80% of your pre-retirement income to maintain your standard of living.

Fidelity recommends saving 10–12 times your final salary by the time you retire. If you earn $75,000 a year, that means a nest egg of $750,000 to $900,000.

Not there yet? That's OK. Just don't let panic force your hand. A smaller retirement fund doesn't automatically mean you should grab Social Security early. It might mean tightening your budget or working a few more years to grow your benefits.

byCosmopolite

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August 15, 2025

Older Americans may be losing money by taking Social Security early — what most overlook about when to claim

Older Americans may be losing money by taking Social Security early — what most overlook about when to claim Chris ClarkAugust 15,...

Yahoo Sports Top 25: College football rankings for the 2025 season Yahoo SportsAugust 15, 2025 at 8:28 PM We are now just days away from kickoff of the college football season.

- - Yahoo Sports Top 25: College football rankings for the 2025 season

Yahoo SportsAugust 15, 2025 at 8:28 PM

We are now just days away from kickoff of the college football season.

And since the season is so quickly approaching, what better way to get in the mood for the action than fighting over where teams should be ranked in preseason polls!

Here's our Top 25 for the upcoming season (click on each team to read more):

No. 25: Iowa State Cyclones

The Cyclones are in a strong position to get back to the Big 12 title game. QB Rocco Becht and RB Carson Hansen are back, though ISU will need to find someone to step up at receiver with the departures of Jaylin Noel and Jayden Higgins to the NFL. The defense lost its two leading tacklers but could and should be better in 2025.

No. 24: Florida Gators

This ranking is largely dependent on a healthy season from QB DJ Lagway. The QB showed flashes of brilliance in 2024 while dealing with a hamstring injury. If he can stay on the field all season, Florida has a very high ceiling despite back-to-back games at LSU and Miami as well as matchups against Texas, Texas A&M, Georgia, Ole Miss and Tennessee on the schedule.

No. 23: Indiana Hoosiers

A return trip to the College Football Playoff is not out of the question for the Hoosiers. QB Fernando Mendoza arrives from Cal as his replacement and is a favorite of NFL Draft analysts. He also has two solid weapons to throw to in Elijah Sarratt and Omar Cooper.

Aiden Fisher is back to lead the defense after recording a team-high 118 tackles and the schedule is favorable outside of trips to Oregon and Penn State.

No. 22: South Carolina Gamecocks

LaNorris Sellers had one of the breakout seasons last year as he rushed for 674 yards and threw for 2,534 yards. Mike Shula, the former Alabama head coach, will call the plays for the Gamecocks after serving as an offensive assistant last season.

The defense may not be as great as it was a season ago. South Carolina lost six of its top seven tacklers from 2024 and will face a schedule that includes LSU, Alabama and Clemson.

No. 21: Texas A&M Aggies

Running backs Le'Veon Moss and Amari Daniels return, along with quarterback Marcel Reed. Moss was one of the most dynamic rushers in the SEC before suffering a season-ending knee injury. If Moss is close to where he was a season ago, the Aggies should have one of the best rushing attacks in the country. That will help cover for a receiving group light on weapons.

No. 20: Arizona State Sun Devils

No one is sleeping on the Sun Devils after they won the Big 12 title in 2024 in a season where hardly anyone expected them to be competitive. QB Sam Leavitt is back after a fantastic first season in Tempe with over 2,800 yards passing and 24 TDs, and the return of WR Jordyn Tyson is huge. Replacing Cam Skattebo may not be as difficult as it once seemed after the offseason arrival of former Army RB Kanye Udoh.

No. 19: Ole Miss Rebels

The Rebels reloaded with one of the top transfer classes in the country after posting at least 10 wins for the third time in the last four seasons. QB Austin Simmons is replacing Jaxson Dart as the starter and could quickly end up being one of the best quarterbacks in the SEC. He has a bevy of weapons at running back and receiver.

The defense added Princewill Umanmielen from Nebraska and other key transfers; Ole Miss was a much more competitive team a season ago thanks to its improvement on both the offensive and defensive lines.

No. 18: Kansas State Wildcats

Avery Johnson is one of the most talented running QBs in college football, but he still needs some polish as a passer. Colorado transfer Dylan Edwards is in line to start at running back; the Wildcats' leading receiver and three starters return on the offensive line. The defense needs to replace six starters, but K-State should once again be a contender in the Big 12.

No. 17: Illinois Fighting Illini

The Illini are a serious threat to make the College Football Playoff. Illinois brings back a host of starters on both sides of the ball following the school's first 10-win season since 2001.

The offense returns QB Luke Altmyer, two running backs and the entire offensive line. The only question on offense is who will step up at receiver. The defense returns its top five tacklers, including Gabe Jacas, and the Illini's schedule is extremely friendly. There's a plausible path to 11 regular-season wins and a trip to the Big Ten title game.

No. 16: Boise State Broncos

The Broncos should again be the leading candidate to represent the Group of Five in the College Football Playoff. Yes, Ashton Jeanty is gone, but the offense should be in good hands with QB Maddux Madsen returning along with four starters on the offensive line.

The defense loses a lot of pass rush juice, but the Broncos should be favored in 11 of their 12 games this season. The only time they could be an underdog is an Oct. 4 trip to Notre Dame.

No. 15: SMU Mustangs

After a first season in the ACC that avoided games against both Clemson and Miami, the Mustangs play both teams in 2025, along with Louisville. The good news is that Kevin Jennings is back at QB; the bad is they need to replace a star running back and three of their four leading receivers from last year. The defense needed to reload up front as well, but coach Rhett Lashlee stacked up on defensive line talent in the transfer portal.

No. 14: Utah Utes

After a year of sub-par quarterback play, Utah moved quickly to address the position in the transfer portal. QB Devon Dampier, who threw for over 2,700 yards and rushed for over 1,100 at New Mexico a season ago, is the new Utes starter.

Simply having a competent offense could make the Utes playoff contenders. The defense has allowed fewer than 23 points per game in each of the last six full seasons and brings back three of its four leading tacklers along with DE Logan Fano.

No. 13: Texas Tech Red Raiders

Just how much can a stellar transfer portal class and a healthy quarterback do for the Red Raiders? They're among the massive group of favorites in the Big 12 due in large part to the top portal class in the country.

Tech added edge rusher David Bailey from Stanford, DL Lee Hunter from UCF, RB Quinten Joyner from USC and 28 other players this offseason. QB Behren Morton is back after throwing for over 3,300 yards in 2024, but he did have offseason surgery. Another full season from him is key for Tech's playoff hopes.

No. 12: Oklahoma Sooners

John Mateer was really, really good at Washington State in 2024. Assuming Mateer is cleared to play after a sports betting controversy in mid-August, could he be the answer for Oklahoma in 2025? Oklahoma's offense was dreadful in 2024. OU averaged 24 points per game as Michael Hawkins replaced Jackson Arnold (now at Auburn) at QB during the season.

The defense did its part last year and allowed just 21.5 points per game and fewer than 5 yards per play. With players like R Mason Thomas (9 sacks) back, along with seven other starters, Oklahoma could be in line for a big year despite a really tough schedule if the offense is simply above average.

No. 11: Michigan Wolverines

You may sense a theme among three of the last four teams. Michigan got eight wins and beat Ohio State and Alabama to end last season despite a passing offense that was one of the worst in the country. That should change in 2025. Even if five-star freshman Bryce Underwood doesn't start right away, former Fresno State QB Mikey Keene should be a significant upgrade.

Last season's defense wasn't as good as it was in 2023, but it was still excellent. Ernest Hausmann and Jaishawn Barham are back at linebacker and Arkansas transfer TJ Metcalf could make a big impact at corner. TJ Guy will be counted on, along with Derrick Moore, to provide the edge rush. A Week 2 matchup between the Wolverines and Sooners should be fascinating.

No. 10: Miami Hurricanes

Former Georgia QB Carson Beck comes to Miami hoping to finish his college career with a flourish and also improve his NFL Draft stock. Beck was fantastic in his first year at Georgia but struggled at times in 2024, and his season ended with an elbow injury in the SEC title game. With a talented receiver in transfer CJ Daniels and an offensive line featuring potential first-round pick Francis Mauigoa, Beck should be comfortable in his new digs.

The Miami defense can't be as bad as it was in 2024. Miami gave up at least 31 points six different times in 2024 and its defensive stats were buoyed by early non-conference performances. Coach Mario Cristobal made sure to address the defense in the transfer portal.

No. 9: Alabama Crimson Tide

Kalen DeBoer's debut season at Alabama did not go as planned as the Tide stumbled to a 9-3 regular season record and just missed the expanded playoff. Lack of discipline (penalties) was a real problem for Alabama. Ty Simpson was officially declared the starting QB on Aug. 11, so he'll take the opening snap against Florida State. One thing he has going for him: Star wideout Ryan Williams, who delivered highlight-reel grabs almost weekly in his freshman season.

Finding more pass rush is key for the Crimson Tide in 2025. The good news is the defense is loaded at linebacker and on the line. A monster game looms at the end of September against Georgia; both teams should be 3-0 heading into the showdown in Athens.

No. 8: Notre Dame Fighting Irish

Notre Dame should be back in the playoff mix after coming oh-so-close to a national title last season. The bad news is that Riley Leonard is gone; he was clutch for the Irish in key moments during their run to the championship game. The good news is that they have two monster running backs and a very pliable schedule this season. Jeremiyah Love and Jadarian Price running behind a stout line should keep the Irish moving forward offensively.

There will be some turnover on the defensive line, but they should still be one of the better defenses in college football after allowing fewer than 16 points per game last season.

No. 7: LSU Tigers

What awaits the Tigers in Year 4 of the Brian Kelly experience? With a 29-11 record at the school, the longtime coach has been solid but hasn't yet lifted LSU to the playoff. Garrett Nussmeier returns at QB and will be looking to improve his NFL Draft stock with another strong receiving corps.

After five straight seasons with at least three losses, this is LSU's best chance to compete for a national title since that iconic 2019 campaign. The schedule is a gauntlet, but this team should be well-equipped to navigate it.

No. 6: Ohio State Buckeyes

Will the Buckeyes run it back and win another title this season? Or, maybe more importantly for OSU fans, will they finally beat Michigan? They'll have to do it all with a reloaded (but very talented) roster. The QB position is up for grabs between Julian Sayin and Lincoln Kienholz. Whoever wins out will have plenty of help with a running game featuring West Virginia transfer CJ Donaldson. Oh yeah, and they have this guy named Jeremiah Smith catching passes, so it may not matter who ends up under center.

The biggest questions come on defense, where the unit will be led by a new coordinator and needs to replace a ton of talent. All-American defensive back Caleb Downs and linebacker Sonny Styles are back on that side of the ball, but the only other returning starter is Davison Igbinosun. Can Texas exploit all the turnover in Week 1?

No. 5: Georgia Bulldogs

With Kirby Smart at the helm, the Bulldogs have been to the playoff three times in the last four years and won it all twice. They should be right back in the mix again with Gunner Stockton replacing Carson Beck at QB. They've added some talented receivers in Zachariah Branch and Noah Thomas, and a solid run game is almost a guarantee with Nate Frazier leading the way.

This is where years and years of recruiting prowess pay off. Georgia may not have a bunch of players on this year's team who casual fans know about, but there's a ton of talent across the roster and it's all but certain that stars will emerge over the course of the season. Additionally, Georgia gets to live the good side of the SEC's schedule rotation this season.

No. 4: Oregon Ducks

One year after a perfect regular season and Big Ten championship (and disappointment in the playoff), the Ducks are reloading at key positions. Dante Moore will helm the offense under center and has a talented line and backfield around him. But there are some question marks at wide receiver.

The defense had to replace several starters, and Purdue transfer Dillon Thieneman should be a stalwart centerpiece there. LB Bryce Boettcher is back after leading the team in tackles and the defensive line added transfer Bear Alexander to help out Matayo Uiagalelei, who led the Ducks with 9.5 sacks in 2024.

A friendly schedule should put Oregon in the driver's seat for a second straight Big Ten title game appearance.

No. 3: Texas Longhorns

It's Arch Manning's time to shine. After two years of spot duty as a backup, the heralded quarterback is the Heisman favorite heading into the season despite throwing fewer than 100 career passes in college football. The Longhorns lost a lot of talent at wide receiver, but Manning has shown he can use his legs if the replacements disappoint.

Coach Steve Sarkisian calls this Texas defense "the deepest and most talented that we've had." Texas gave up just over 15 points per game in 2024. If this defense is better than that one, Manning shouldn't have to put up gangbuster numbers for Texas to be a top-four CFP seed.

No. 2: Penn State Nittany Lions

We'll ask it before the season even begins: Can James Franklin win the big one? Or several big ones? Because this year's Penn State team has the talent to win a national title, but it'll surely encounter some juggernauts along the way.

Drew Allar is back at QB after a strong 2024 season and he has plenty of weapons with which to work. Nick Singleton and Kaytron Allen form what may be the best running back duo in the country, and Franklin got some receiver additions in the transfer portal.

The aforementioned 'big games': The Big Ten title game rematch with Oregon at home on Sept. 27 will be huge. Ohio State has bossed Penn State for much of James Franklin's tenure, so the Nov. 1 showdown in Columbus will weigh heavy on everybody in Happy Valley. The rest of the Nittany Lions' schedule is palatable, but they'll run into more heavyweights in the playoff. Can James Franklin and PSU finally deliver when the stakes are highest?

No. 1: Clemson Tigers

This is the Tigers' best shot to replicate the program's late-2010s success. This team is loaded and it doesn't have to navigate a conference schedule like many in the SEC and Big Ten.

Clemson's roster continuity should go a long way, with QB Cade Klubnik returning for his third season as the starter behind an experienced and talented offensive line. The team also brings back nine starters on defense, including TJ Parker, who had 11 sacks and 8.5 tackles for loss as a sophomore in 2024. He could be the top edge rusher taken in the 2026 NFL Draft with another double-digit sack season.

Head coach Dabo Swinney said in early August that it's now a race to be the first 16-0 team at the top level of college football and he believes his team can do it.

Original Article on Source

Source: "AOL AOL Sports"

Source: Astro Blog

Full Article on Source: Astro Blog

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