Changing values and spending patterns at luxury restaurants may offer early clues for protecting your finances before broader economic pressures start to build.
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A recent article in TheStreet indicates that the wave of high-end steakhouse closures sweeping across America might seem like another casualty of the restaurant industry’s ongoing challenges. But when Ruth’s Chris shutters a 25-year-old location in affluent Boca Raton and Morton’s closes restaurants serving prime cuts for over three decades, it’s time to pay attention to what these closures…
With June 15 approaching, now is the time to plan a gift that lasts. These picks offer value, comfort, or growth long after Father’s Day ends.
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Dad deserves more than another tie. This Father’s Day, why not give him something that keeps delivering, whether it’s savings, comfort, or a new skill? Instead of one-and-done gifts, consider presents that continue to pay off throughout the year. A recent LendingTree survey found that nearly 40% of Americans now seek more meaningful, experience-based gifts. These six bright ideas are…
These small mistakes can add up to a big bill if you don’t take care of them.
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Most people don’t think twice about tiny home issues, and that’s how the trouble begins. Delayed fixes, wrong tools, and skipped steps can all snowball into pricey repairs. Every little mistake counts more than it seems. Here, we round up easy-to-miss errors that could quietly wreck your budget if ignored for too long. That slow leak won’t fix itself. Before you know it…
These companies want you to take the break you deserve — and have the benefits to back it up.
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Planning a vacation is exciting, but for many workers, the financial strain of taking time off can create added stress. A recent survey from Zety found that 68% of people plan to adjust their vacation plans in the coming year to save money. Another survey from MyPerfectResume revealed nearly a quarter of respondents are pursuing side gigs specifically to fund their vacations.
[[{“value”:”Image source: Getty Images
For many higher-income families, a vacation home is more than a luxury: It’s a legacy. But passing down a beloved second home can create more stress than memories if you don’t plan it right.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Without the right structure, your heirs could face massive capital gains taxes, estate headaches, and even painful family disputes. Fortunately, more high-net-worth families are getting ahead of the problem and handing down their properties the smart way.The tax trap that catches too many familiesWhen a vacation property appreciates in value, the potential tax liability can be huge. That’s especially true if:The home is gifted during your lifetime and then sold (triggering capital gains based on your original purchase price), orThe home isn’t held in a structure that allows for a step-up in basis at deathMany families also forget that real estate counts toward their total taxable estate. With the estate tax exemption expected to drop in 2026, more families could find themselves unexpectedly above the threshold. The federal estate tax exemption is currently $13.61 million per person, but many states have much lower thresholds.The result is a cherished home becomes a financial burden or gets sold to cover tax bills.Strategy No. 1: Let beneficiaries inherit it — don’t gift itOne of the simplest and most powerful moves you can make is to hold on to the home until you die, so your heirs get a step-up in basis if the home has appreciated in value. This can eliminate most capital gains taxes if they decide to sell shortly after inheriting.Gifting the home now might feel generous, but it could come with a six-figure tax bill your kids never saw coming.Smart move: If you plan to keep the home in your family, consider adding it to your estate plan, not your gift plan.Strategy No. 2: Use a trust or LLC to protect and manage the propertyMore high-net-worth families are transferring vacation homes into revocable trusts or limited liability companies (LLCs) to make inheritance smoother and more tax-efficient.Benefits include:Avoiding probateClarifying ownership among multiple heirsProviding protection from legal or creditor issuesEstablishing rules for maintenance, usage, or even buyoutsA well-drafted LLC agreement can be especially helpful if you’re leaving the home to multiple children — and want to prevent future fights over scheduling, upkeep, or whether to sell.All of this can get complicated, but a financial advisor can help. A short questionnaire from our partner, SmartAsset, helps match you with up to three fiduciary financial advisors, each legally bound to work in your best interest.Strategy No. 3: Plan for ongoing costsOne of the biggest reasons vacation homes become a point of contention is maintenance costs. Property taxes, insurance, and repairs don’t stop — and not every heir may want to (or be able to) contribute equally.That’s why many families:Set aside a separate fund for upkeepAdd guidelines for selling if certain triggers are metAllow for one heir to buy out the others at fair market valueStrategy No. 4: Talk to your family now — not laterNo matter how carefully you structure things legally, nothing replaces a clear conversation. Share your intentions, explain your plan, and give your family a chance to ask questions. The more they understand today, the smoother the transition will be tomorrow.Talking it through with your family and a financial advisor helps ensure everyone is on the same page. Our partner SmartAsset’s secure quiz matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process.Preserve the home — and the harmonyA vacation home can be a source of joy for generations or a source of conflict and cost. The difference comes down to planning.By using trusts, LLCs, and tax-smart timing, you can pass down your property without handing over a headache. And more importantly, you’ll preserve what matters most: the connection it represents.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”
Image source: Getty Images
For many higher-income families, a vacation home is more than a luxury: It’s a legacy. But passing down a beloved second home can create more stress than memories if you don’t plan it right.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Without the right structure, your heirs could face massive capital gains taxes, estate headaches, and even painful family disputes. Fortunately, more high-net-worth families are getting ahead of the problem and handing down their properties the smart way.
The tax trap that catches too many families
When a vacation property appreciates in value, the potential tax liability can be huge. That’s especially true if:
The home is gifted during your lifetime and then sold (triggering capital gains based on your original purchase price), or
The home isn’t held in a structure that allows for a step-up in basis at death
Many families also forget that real estate counts toward their total taxable estate. With the estate tax exemption expected to drop in 2026, more families could find themselves unexpectedly above the threshold. The federal estate tax exemption is currently $13.61 million per person, but many states have much lower thresholds.
The result is a cherished home becomes a financial burden or gets sold to cover tax bills.
Strategy No. 1: Let beneficiaries inherit it — don’t gift it
One of the simplest and most powerful moves you can make is to hold on to the home until you die, so your heirs get a step-up in basis if the home has appreciated in value. This can eliminate most capital gains taxes if they decide to sell shortly after inheriting.
Gifting the home now might feel generous, but it could come with a six-figure tax bill your kids never saw coming.
Smart move: If you plan to keep the home in your family, consider adding it to your estate plan, not your gift plan.
Strategy No. 2: Use a trust or LLC to protect and manage the property
More high-net-worth families are transferring vacation homes into revocable trusts or limited liability companies (LLCs) to make inheritance smoother and more tax-efficient.
Benefits include:
Avoiding probate
Clarifying ownership among multiple heirs
Providing protection from legal or creditor issues
Establishing rules for maintenance, usage, or even buyouts
A well-drafted LLC agreement can be especially helpful if you’re leaving the home to multiple children — and want to prevent future fights over scheduling, upkeep, or whether to sell.
All of this can get complicated, but a financial advisor can help. A short questionnaire from our partner, SmartAsset, helps match you with up to three fiduciary financial advisors, each legally bound to work in your best interest.
Strategy No. 3: Plan for ongoing costs
One of the biggest reasons vacation homes become a point of contention is maintenance costs. Property taxes, insurance, and repairs don’t stop — and not every heir may want to (or be able to) contribute equally.
That’s why many families:
Set aside a separate fund for upkeep
Add guidelines for selling if certain triggers are met
Allow for one heir to buy out the others at fair market value
Strategy No. 4: Talk to your family now — not later
No matter how carefully you structure things legally, nothing replaces a clear conversation. Share your intentions, explain your plan, and give your family a chance to ask questions. The more they understand today, the smoother the transition will be tomorrow.
Talking it through with your family and a financial advisor helps ensure everyone is on the same page. Our partner SmartAsset’s secure quiz matches you with up to three fiduciary financial advisors who have passed a rigorous vetting process.
Preserve the home — and the harmony
A vacation home can be a source of joy for generations or a source of conflict and cost. The difference comes down to planning.
By using trusts, LLCs, and tax-smart timing, you can pass down your property without handing over a headache. And more importantly, you’ll preserve what matters most: the connection it represents.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.
[[{“value”:”Ever looked at your credit card limit and thought, “That’s it?”Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Some folks still have the same tiny $2,000 credit lines they were given back in college when they opened their first account. Others are walking around with $30,000 limits and luxury perks, and upgrading to first class with travel rewards.Here’s everything you need to know about unlocking a high-limit credit card, plus a couple recommendations for cards worth applying for in 2025.What counts as a “high-limit” card?There’s no official definition, but here’s a helpful benchmark: According to Experian, the average American has around $30,000 in total credit across all their cards. So if a single card offers that kind of limit, that’s considered “high.”Some cards begin with smaller limits but are built to grow with you over time. You might start with a $5,000 approved limit, but with responsible use you could increase this to $40,000, $50,000, or more. Especially if you’ve got a strong credit history and steady income.Take this popular travel card, for example. While it’s a great starter card offering lower limits for light users, many big spenders carry it too. Credit limits for this card have been known to grow well into the five figures. Personally, I have a $23,000 limit on mine, and I haven’t even tried asking for an increase.Why people love these cardsThe real appeal of high-limit cards goes way beyond spending power. They can offer premium perks that let you upgrade your lifestyle, especially for travelers.Here are some of the best perks and protections that come with luxury, high-limit cards:Airport lounge access with free drinks, food, and comfy seatingAnnual travel credits (often $200 to $400+)Elite hotel status with upgrades, breakfast, and late checkoutReimbursement for TSA PreCheck or Global EntryStrong purchase protections and extended warranties2X to 5X rewards points on travel spendingWhen used correctly, these perks can easily offset the annual fee, and sometimes save you hundreds (if not thousands) per year.Check out this card as an example of one standout that packs in nearly all of the above. It’s also unique because it comes with no preset spending limit — meaning your purchasing power adjusts over time based on your spending habits, payment history, and more.How to qualify for a high-limit cardGetting approved isn’t as hard as you might think. Just keep in mind that you might only be granted a small credit limit to start with. You can request increases over time as your situation changes.Here’s what most issuers look for when considering applications:Excellent credit score (FICO® Score of 740 and higher or a VantageScore above 781)Steady income (even better if it’s documented via W2 or tax returns)Low credit utilization (under 30% is best practice, but under 10% is better)A track record of on-time payments and responsible usageIf your credit isn’t in top shape currently, you can still start building toward a high-limit card. Explore all the top high-limit credit cards here and find your perfect match.Use it wisely, reap the rewardsA higher credit limit can also improve your credit score by lowering your overall utilization. But it only works if you manage your credit responsibly.That means paying your bill on time, keeping balances in check, and not treating high limits like free money.Even if you’re not ready for a premium card just yet, don’t sweat it. There are plenty of great starter cards that help you build credit over time while still earning rewards along the way. The more consistent you are, the faster you’ll unlock those top-tier options.Check out our favorite credit cards of 2025 — from beginner picks to premium powerhouses.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.”}]] [[{“value”:”
Ever looked at your credit card limit and thought, “That’s it?”
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Some folks still have the same tiny $2,000 credit lines they were given back in college when they opened their first account. Others are walking around with $30,000 limits and luxury perks, and upgrading to first class with travel rewards.
Here’s everything you need to know about unlocking a high-limit credit card, plus a couple recommendations for cards worth applying for in 2025.
What counts as a “high-limit” card?
There’s no official definition, but here’s a helpful benchmark: According to Experian, the average American has around $30,000 in total credit across all their cards. So if a single card offers that kind of limit, that’s considered “high.”
Some cards begin with smaller limits but are built to grow with you over time. You might start with a $5,000 approved limit, but with responsible use you could increase this to $40,000, $50,000, or more. Especially if you’ve got a strong credit history and steady income.
Take this popular travel card, for example. While it’s a great starter card offering lower limits for light users, many big spenders carry it too. Credit limits for this card have been known to grow well into the five figures. Personally, I have a $23,000 limit on mine, and I haven’t even tried asking for an increase.
Why people love these cards
The real appeal of high-limit cards goes way beyond spending power. They can offer premium perks that let you upgrade your lifestyle, especially for travelers.
Getting approved isn’t as hard as you might think. Just keep in mind that you might only be granted a small credit limit to start with. You can request increases over time as your situation changes.
Here’s what most issuers look for when considering applications:
Excellent credit score (FICO® Score of 740 and higher or a VantageScore above 781)
Steady income (even better if it’s documented via W2 or tax returns)
Low credit utilization (under 30% is best practice, but under 10% is better)
A track record of on-time payments and responsible usage
A higher credit limit can also improve your credit score by lowering your overall utilization. But it only works if you manage your credit responsibly.
That means paying your bill on time, keeping balances in check, and not treating high limits like free money.
Even if you’re not ready for a premium card just yet, don’t sweat it. There are plenty of great starter cards that help you build credit over time while still earning rewards along the way. The more consistent you are, the faster you’ll unlock those top-tier options.
Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Joel O’Leary has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Tarra “Madam Money” Jackson is a financial educator, international speaker, author, and wealth empowerment strategist helping you heal, build, and grow your wealth.
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