Much like homeownership, a comfortable retirement is looking more and more like an outdated aspect of the American Dream. Most people leave the workforce and start drawing Social Security, not because they have enough money saved to pay their expenses until their 100th birthday, but because they are no longer healthy enough to work, and many of them…

Qualifying for a home mortgage has never been easy; if you want to buy a house, you either need generational wealth or an extraordinary stroke of luck. Today, a disproportionate share of homebuyers have their parents contribute to the down payment, or else the mortgage loan principal would be so big that lenders would refuse to issue the loan.…

Hats off to Amsterdam. It had legalized recreational cannabis long before California did. Maybe it is time for California to borrow another page from the Netherlands’ playbook. Like Amsterdam, California already has bike-friendly streets and a climate that welcomes tourists year-round, and we probably don’t need our own equivalent of Amsterdam’s red-light district. What we do need is affordable housing, and renting…

“Winding up a business that has become insolvent is as easy as ABC,” said no one ever. Closing a business because it has caused too many financial losses for its shareholders is stressful and, somehow, at least as time-consuming as maintaining the operations of a business that is currently viable. Deciding to cut your losses…

Compared to most other events in an average consumer’s year, receiving a tax refund feels like a cause for celebration. The saying that it is expensive to be poor is as painfully true today as it was decades ago. From unaffordable interest rates on loans to getting your paycheck on a debit card that charges…

the Benefit of the Doubt When you tell your family about your plans to file for bankruptcy protection, there is always that one family member who is convinced that you are so bad with money that, no matter how much debt relief you get from your bankruptcy case, you will just end up broke again.…

The less need you have for something, the more willing people are to give it to you. This is especially true of credit. If you have one million dollars in your bank account, banks will not think twice before lending you another million, but if you needed to buy and furnish a house for a…

Credit card debt is a major drain on your finances these days, and you are not the only one. As of early 2024, American consumers owe a total of more than a trillion dollars in credit card debt. Minimum payments on credit cards take up a big portion of your paycheck, so even as you…

Everyone has the right to file for bankruptcy protection, according to federal law. Regardless of your age, your marital status, and whether you are employed, you have the right to ask the bankruptcy court to discharge your eligible debts that you cannot pay.  People who file for bankruptcy come from all walks of life, but…

Yes, California is expensive, but it offers better financial protection for consumers than most other states do. California’s state minimum wage is one of the highest in the country; as of 2024, only Washington state and Washington, D.C. have higher minimum wages. In some cities in California, the minimum wage is even higher.  The paid…