Money Management

It’s an important step to address an ongoing crisis. 

When the COVID-19 pandemic first hit U.S. soil in early 2020, millions of jobs were shed within weeks. That left a lot of people scrambling to pay their bills in the absence of having money in a savings account to tap.

Thankfully, different protections were put into place in early 2020 to avoid a full-blown housing crisis. Mortgage borrowers were given the option to put their loans into forbearance for an extended period of time, during which they did not run the risk of foreclosure. And a federal eviction ban was put into place that barred landlords from removing tenants from their homes due to an inability to pay rent.

But those early pandemic-era protections are now long expired. And not shockingly, eviction rates have risen as a result. There have been nearly 1.8 million evictions across the U.S. since March 2020, according to Eviction Lab data. And there were nearly 9,400 evictions in the one-week period leading up to this writing alone.

Thankfully, lawmakers are taking steps to address the problem of evictions. And a new set of funding could go a long way.

Helping tenants attain more housing security

Landlords have the right to evict tenants on the basis of nonpayment — provided they go through the proper motions and do so in a legal fashion. Unfortunately, many tenants aren’t aware of their rights when it comes to evictions, and that puts them at a huge disadvantage.

But according to the recently published White House Blueprint for a Renters Bill of Rights, the U.S. Department of Housing has plans to award $20 million for the Eviction Protection Grant Program in 2023. The program will provide funding to nonprofit organizations and government entities to provide legal assistance to low-income tenants who are at risk of or subject to eviction.

One major disadvantage tenants facing eviction tend to have is a lack of financial resources — something that may not be as much of a problem for landlords and large property management companies. Providing assistance to tenants in dire financial situations could help many avoid eviction or better cope with its aftermath.

Avoiding eviction in the first place

If you’ve simply run out of money to pay your rent, then an eviction notice may, unfortunately, be in your future. But that doesn’t mean you’re doomed to lose your home.

Talk to your landlord if you’re having difficulty paying your rent. They might agree to a new payment plan or some sort of setup that allows you to stay in your home in the absence of being able to cover your rent in full. And if you are served with an eviction notice, seek help. Resources like FindLaw are available to people who need legal assistance but lack the funds to pay typical attorney fees.

The fact that lawmakers are taking steps to address the eviction crisis is a very good thing. Of course, another way to prevent evictions is to focus on making housing affordable, but that’s something that’s definitely on lawmakers’ radar, too.

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The time to start saving for retirement is now. 

When you’re fairly young and trying to establish yourself in your career, your financial goals may not exactly revolve around saving for retirement. Rather, you may be focused on things like paying off your credit cards or socking money away for a down payment on a home.

But actually, saving for retirement is a really important thing to do when you’re young. The reason? Most people don’t just leave their retirement savings in cash. Rather, they invest that money so it can grow into a larger sum. And the longer your investing window, the more opportunity you’ll have to grow wealth.

In a recent Insuranks survey, 49% of millennials and Gen Zers said that saving for retirement is one of the hardest things to do as a young adult. And it’s easy to see why they feel that way. But one account — and strategy — could make it easy to overcome the barriers to saving you’ve been facing.

An option that’s open to everyone

If you don’t have access to a 401(k) plan through your employer, then that particular savings plan may be off the table. And that’s a shame, because 401(k) plans commonly include an employer matching component that lets you receive free money for retirement savings purposes. But if you don’t have a 401(k) plan through your job, you can take retirement savings into your own hands by opening an IRA.

IRAs are managed individually, so you don’t need an employer to sponsor one. All you need to qualify for an IRA is to have earned income.

Of course, just opening an IRA isn’t enough to help you make progress on the retirement savings front. That’s sort of like opening a savings account but not putting any money into it — it won’t do you much good. Rather, what you should do is set up an automatic transfer from your bank account to your IRA so that money lands in your retirement plan every month.

The upside of putting your IRA contributions on autopilot is that you won’t be tempted to spend the money you should be saving. In fact, one benefit of saving for retirement in a 401(k) is that deductions are taken out of your earnings automatically, so you don’t end up missing that money — you simply get a smaller paycheck. To be successful at saving in an IRA, it’s best to take a similar approach and make those contributions automatic.

Focus on retirement savings

If you’re in your 20s, 30s, or even early 40s, you may have financial priorities aside from retirement. You don’t need to ignore those near-term goals to focus solely on retirement, but you should aim to address both goals at the same time — for example, by splitting your spare cash between your home down payment fund and your IRA.

Waiting to save for retirement until you’re further along in your career could leave you with a serious savings shortfall later in life. So the sooner you’re able to get started, the less financial stress you’re apt to experience as a retiree.

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The most entertaining (and educational!) movies about Wall Street. 

The world of finance can seem boring to many people, but that hasn’t stopped moviegoers from enjoying watching movies about Wall Street and continuing to come back for more. These films not only offer an intriguing look into the high-stakes world of financial trading, where fortunes are lost or made, but show the moral implications of such pursuits. Wall Street movies also provide unique insights into how the stock market and the economy work, allowing viewers to gain a better understanding of a complex subject. If you enjoy these types of movies, then here are five you don’t want to miss.

1. Wall Street (1987)

This is the movie that is credited with starting it all. Directed by Oliver Stone and starring Michael Douglas, this award-winning movie is one of the most iconic movies about Wall Street ever made. It tells the story of Gordon Gekko, a ruthless corporate raider who will stop at nothing to get what he wants. The film is often credited for popularizing the phrase “Greed is good” and has become an iconic representation of the excesses and corruption of Wall Street. This movie won one Oscar, and had 10 film award wins and five nominations.

2. Margin Call (2011)

This movie is essential viewing for anyone interested in Wall Street. Set during the 2008 financial crisis, this award-winning drama tells the story of an investment bank on the brink of collapse. Led by an all-star cast of Kevin Spacey, Stanley Tucci, Zachary Quinto, Paul Bettany, Demi Moore, and Jeremy Irons, this film follows a group of investment bankers over a 24-hour period as they try to avoid disaster when their firm faces financial ruin due to risky investments gone bad. This movie was nominated for one Oscar, and had eight film award wins and 24 nominations.

3. The Wolf of Wall Street (2013)

When it comes to Wall Street, no movie captures the essence of financial trading better than Martin Scorsese’s The Wolf of Wall Street. Starring Leonardo DiCaprio as real-life stock broker Jordan Belfort, this film follows his rise (and lavish lifestyle) and rapid fall from grace. Along the way, viewers get an inside look at excesses of Wall Street and how greed can corrupt even those with seemingly good intentions. This movie was nominated for five Oscars, and had 37 film award wins and 179 nominations.

4. The Big Short (2015)

Based on real events and the best-selling book by Michael Lewis, this award-winning movie follows a group of investors who saw warning signs before the housing market crash of 2008. Led by another all-star cast, consisting of Christian Bale, Steve Carell, Ryan Gosling, and Brad Pitt, the characters decide to bet against the impending mortgage crisis using “collateralized debt obligations (CDOs).” It’s an interesting take on how smart people can make money by betting against conventional wisdom, how they were ridiculed, and then eventually had the last laugh. This movie won one Oscar, and had 37 film award wins and 81 nominations.

5. Boiler Room (2000)

Another award-winning Martin Scorsese film, this cult classic stars Giovanni Ribisi as Seth Davis, an ambitious young man who gets involved in an unscrupulous penny stock brokerage firm. He soon discovers the dark side of working in finance and must decide whether to do something about it. This film also has an all-star cast in addition to Ribisi, starring Vin Diesel, Ben Affleck, Scott Caan, and Jamie Kennedy. This movie came out one month prior to the 2000 dotcom bubble, a perfect precursor to the crash that saw the Nasdaq fall by 75%. This movie had one film award win and nine nominations.

Whether you’re looking for intense drama, a riveting portrayal of financial trading, or want to learn more about Wall Street, then these five movies about Wall Street have something for everyone. They offer an intriguing look into what goes on behind closed doors on Wall Street and make for great viewing whether you’re an investor yourself or just curious about what goes on in the world of high-stakes trading. So pop some popcorn, grab your favorite beverage, and enjoy one (or all!) of these great films!

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Here’s an affordable way to keep enjoying your favorite hobby. 

If you’re a gamer, you know that playing on your PC is a different experience than playing on a mobile device. But those games can get expensive. Fortunately, there are plenty of sites out there that offer free desktop video games for download. Whether you’re looking for classic arcade titles or modern-day shooters, here are some of the best places to find free video game downloads that won’t damage your bank account.

1. Steam

Steam is one of the most popular digital marketplaces for PC gamers. While it offers paid games, Steam also has an extensive library of free-to-play titles. It’s easy to browse its selection by genre and theme, so you can quickly find the perfect game for your needs. Plus, if you choose to purchase any of its paid titles, Steam will often offer discounts or special promotions that make it even more affordable.

2. GOG

GOG (formerly Good Old Games) is another great source for free gaming. GOG specializes in classic PC and console titles from many different genres and eras. It has a wide selection of adventure and strategy games available in its library as well as some older classics like Doom and Quake that have been remastered for modern systems. And if you don’t want to download the games directly from GOG, it also offers them through its own client, which syncs with other services like Steam and Origin.

3. Epic Games

Epic Games is a video game storefront where you can purchase the most popular games available. Epic offers a free game that you can download every week. You can see which games will be offered for free in upcoming weeks and also browse its extensive library of games that are free to download and play.

4. Prime Gaming

Are you an Amazon Prime member? Then you qualify for free games and in-game loot every month. Many Prime members don’t realize this is a perk of membership. You get to keep the games forever, even if you are no longer a Prime member. You also get a free subscription of Twitch.tv, a popular live streaming gaming and entertainment service.

5. Electronic Arts

Like to play Star Wars, football, soccer, basketball, or role-playing games? EA is known for its EA Sports titles FIFA, Madden NFL, NBA Live, NHL, UFC, and its Star Wars titles. EA is also the creator of the popular franchise The Sims, a best-selling life simulation game. You can currently download The Sims 4 on Epic or EA.

These are just a few of the sites you can go to download free games. These sites are well-known, reputable, and safer to use than other sites you may find. With so many options available online today, downloading free video games has never been easier! Whether you’re looking for classic arcade titles or something more modern like FPS shooters or RPGs, these websites are sure to have something that suits your needs and boosts your budget.

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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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Amazon.com. The Motley Fool has a disclosure policy.

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It’s a move you might regret. 

Housing is often the average American’s largest monthly expense. This can hold true in the context of both renting and owning. But homeowners can, in some cases, be even more burdened by housing expenses than renters can be. That’s because homeowners face not only monthly mortgage payments, but also, added expenses like property taxes and homeowners insurance.

In a recent Insuranks survey, 22% of millennials and Gen Zers said that their parents have given them money in the past year to help with a rent or mortgage payment. And given the way inflation surged in 2022, it’s easy to see why so many younger adults needed that help.

But if you’re the parent of a young adult who owns a home and are being asked to help pay the mortgage, you may want to think twice about saying yes. Doing so could end up being quite detrimental to your own finances.

When helping your grown kids comes at a cost

Maybe you’re in a really solid place financially — you have loads of money in your IRA account, you don’t have debt, and you’re on track to retire when you want to. If so, then you may feel the push to write your grown kids a check to help them cover the mortgage, or another large bill, when money gets tight for them. But if you need that money yourself, then helping your grown kids pay for housing is probably something you shouldn’t be doing.

Imagine that instead of sticking $1,200 a month into your retirement plan for a year, you instead give that money to your child who’s having difficulty paying their mortgage. That could leave you with a savings shortfall by the time your career wraps up.

But even if you’re doing well enough financially, paying an adult child’s mortgage on a regular basis just isn’t a good idea. There’s nothing wrong with helping out in a pinch if you can afford to do so. If you have a child in their late 20s who owns a home and lost their job, for example, and you need to pay their mortgage for two months while they find work, so be it.

But you shouldn’t get yourself into a situation where you’re paying or subsidizing a child’s mortgage every month without an end date in sight. For one thing, that’s not teaching your child very good financial habits. And also, even if you can afford to supplement their lifestyle now, things might change once you stop working, enter retirement, and suddenly need to live off your savings. At that point, if you need to pull the plug on the mortgage help you’ve been dishing out, your grown child might fall behind on their payments and risk losing their home.

Kindness should only go so far

It’s a natural thing for a parent to want to help their child in any capacity. But while it’s okay to help with a one-off mortgage payment here and there in an emergency, you shouldn’t make a habit of helping your kids pay their mortgage. Rather, you should encourage them to buy homes that they can afford based on their own respective incomes.

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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.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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