Latest news with #Janelle
Miami Herald
09-07-2025
- Entertainment
- Miami Herald
Is Hollywood inspired by the CIA, or the other way around?
LANGLEY, Va. - At CIA headquarters, beyond the handsome granite seal on its lobby floor and a wall of stars carved in honor of the agency's fallen, experts are at work in the complex tasks of spycraft: weapons-trained officers, computer engineers, virologists, nuclear scientists. But there are also storytellers, makeup artists, theater majors and ballerinas - Americans who probably never thought their skills would match the needs of a spy agency. Yet the CIA thought otherwise. Though it rarely gets the spotlight, there's a revolving door of talent between the country's premiere intelligence agency and its entertainment industry, with inspiration and influence often working both ways. The agency is targeting professionals at the intersection of arts and technology for recruitment, CIA officers told The Times, and continues to cooperate with entertainment giants to inspire the next generation of creative spies. This month, the agency is assisting a New York Times bestselling author on a young adult book examining the foundations of the CIA laid during World War II. Scenes from a major upcoming film production were just shot at its headquarters, a logistical feat at an intelligence campus tucked away in the Virginia suburbs behind rings of security perimeters, where officers roam cracking down on Bluetooth signals. Another popular streaming TV series will be back at Langley to film this fall. But their collaboration goes far deeper than that, officers said. Creative minds in Hollywood and the entertainment industry have long had a role at the Central Intelligence Agency, devising clever solutions to its most vexing problems, such as perfecting the art of disguise and harnessing a magician's ability to cast spellbinding illusions. Indeed, in the 1950s, a magician from New York named John Mulholland was secretly contracted with the agency to write a manual for Cold War spies on trickery and deception. These days, the officers said, creative skills are more valuable than ever in such a technologically complex world. "You're only limited by your own imagination - don't self-censor your ideas," said Janelle, a CIA public affairs officer, granted the ability to speak under her first name at the request of the agency. "We're always looking for partners." An elusive history David McCloskey, a former CIA analyst and author of "Damascus Station" and other spy thrillers, offered several theories on why the agency might be interested in fostering a robust relationship with Hollywood, calling it "a two-way street." "There definitely have been operational applications for espionage," McCloskey said. "It's probably the exception to the rule, but when it happens, it's compelling." It's easy to see why CIA leaders would be interested in Hollywood, he said, in part to shape impressions of the agency. "But their bread and butter business is receiving people to give secrets," he continued, "and part of that is getting close to people in power." "The closer you are to Hollywood," McCloskey added, "that's a really interesting 'in' to having a lot of interesting conversations." Some of the CIA's most iconic missions - at least the declassified ones - document the agency's rich history with Hollywood, including Canadian Caper, when CIA operatives disguised themselves as a film crew to rescue six American diplomats in Tehran during the Iran hostage crisis, an operation moviegoers will recognize as the plot of "Argo." "'Argo' was almost too far-fetched to even believe," said Brent, an in-house historian at CIA headquarters. "It's almost more Hollywood than Hollywood." Canadian Caper was both inspired by Hollywood and relied on Hollywood talent. Agent Tony Mendez had been a graphic artist before joining the agency and helping craft the mission. Another key player was John Chambers, the makeup artist who gave the world Spock's ears on "Star Trek" and won an honorary Oscar for his trailblazing simian work on "Planet of the Apes." He was awarded the CIA's Intelligence Medal of Merit for his work on the covert rescue effort. Just a few years before, Howard Hughes, then one of the world's richest men and a tycoon in media, film and aerospace, agreed to work with the CIA to provide cover for an effort by the agency to lift a sunken Soviet nuclear submarine off the floor of the Pacific Ocean. Deploying Hughes' Glomar Explorer under the guise of mineral extraction, the CIA was able to salvage most of the sub before The Times broke a story blowing its cover - "the story that sunk our efforts," in CIA parlance. And another mission was made possible thanks to a device invented by a professional photographer - a gadget that later became the inspiration of an over-the-top scene in the blockbuster Batman film "The Dark Knight." In Project Coldfeet, CIA agents gathering intelligence on a Soviet station erected on a precariously drifting sheet of ice in the Arctic needed a reliable extraction plan. But how does one pick up an agent without landing a plane on the ice? The answer was the "skyhook": Balloons lifted a tether attached to a harness worn by an agent high into the sky. A CIA plane snagged the tether and carried the agent off to safety. In "The Dark Knight," Batman makes a dramatic escape deploying the same kind of balloon-harness contraption. 'The superhero spy' CIA leadership often says that acceptance into the agency is harder than getting into Harvard and Yale combined. Yet the agency still has challenges recruiting the type of talent it is looking for - either in reaching those with unconventional skills, or in convincing them that they should leave secure, comparatively well-paid, comfortable jobs for a secretive life of public service. It is no easy task managing work at the agency, especially with family, CIA officials acknowledged. Deciding if and when to share one's true identity with their children is a regular struggle. But Janelle said the CIA tells potential recruits there is a middle ground that doesn't require them to entirely abandon their existing lives. "People don't have to leave their companies to help their country and to work with CIA," Janelle said. "People come here because they love their country and know they can make a difference." Janelle is part of a team that regularly engages with creatives who want to portray the agency or spies as accurately as possible. "Some producers and directors reach out and they do care about accuracy," Janelle said, "but they ultimately pick and choose what's going to work for the film or show." CIA analysts have also been known to leave the agency for opportunities in the entertainment industry, writing books and scripts drawing from their experiences - so long as they don't track too closely with those experiences. Joe Weisberg, the writer and producer behind the television series "The Americans," and McCloskey, who is working on a fifth novel focused on U.S. and British intelligence, were both part of the agency before launching their writing careers. And as CIA alumni, they had to submit their works for review. "There's a whole publication and classification-review process," Brent said. That process can be a bit of a slog, McCloskey said: "They quite literally redact in black ink." But it is far more difficult for nonfiction writers than novelists. "There could be bits of tradecraft, or alluding to assets, or people at the agency, which are clear no's," McCloskey said. "But with novels, it's not that hard to write them in a way to get them through the review board." Try as they may, studios often repeat the same falsehoods about the CIA, no matter how often they are corrected. Officers and agents aren't the same thing, for one. And as disappointing as it may be for lovers of spy thrillers, the majority of officers are not licensed or trained to carry weapons. "One thing Hollywood often gets wrong is the idea that it's one officer doing everything, when it's really a team sport here," Janelle said. "Zero Dark Thirty," an Oscar-winning film released in 2012 about the hunt for al-Qaida leader Osama bin Laden, was widely acclaimed but criticized by some within the intelligence community over the credit it lends a single, fictional CIA analyst for tracking him down. McCloskey sympathizes with the writer's dilemma. "I can't have 35 people on a team. From a storytelling standpoint, it just doesn't work," he said, acknowledging that little in the field of espionage is accurately captured on screen, even though there are plenty of former spies available to work as consultants. "There's no lack of sources to get it right," he said. "It's that the superhero spy - the Jack Ryans and Jason Bournes - are pretty much the Hollywood representation of espionage." However inaccurately glorified and dramatized, the agency hopes that Hollywood's work can keep the revolving door moving, inspiring atypical talent to join its ranks. "We have architects, carpenters, people who worked in logistics," Brent said. "People might not realize the range of skill sets here at CIA." And as Canadian Caper showed, sometimes spycraft requires stagecraft. It's possible that what's needed most to complete the next mission won't be oceanography or data mining, but costume design. Or maybe another ballerina. Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Los Angeles Times
06-07-2025
- Entertainment
- Los Angeles Times
Is Hollywood inspired by the CIA, or the other way around?
LANGLEY, Va. — At CIA headquarters, beyond the handsome granite seal on its lobby floor and a wall of stars carved in honor of the agency's fallen, experts are at work in the complex tasks of spycraft: weapons-trained officers, computer engineers, virologists, nuclear scientists. But there are also storytellers, makeup artists, theater majors and ballerinas — Americans who probably never thought their skills would match the needs of a spy agency. Yet the CIA thought otherwise. Though it rarely gets the spotlight, there's a revolving door of talent between the country's premiere intelligence agency and its entertainment industry, with inspiration and influence often working both ways. The agency is targeting professionals at the intersection of arts and technology for recruitment, CIA officers told The Times, and continues to cooperate with entertainment giants to inspire the next generation of creative spies. This month, the agency is assisting a New York Times bestselling author on a young adult book examining the foundations of the CIA laid during World War II. Scenes from a major upcoming film production were just shot at its headquarters, a logistical feat at an intelligence campus tucked away in the Virginia suburbs behind rings of security perimeters, where officers roam cracking down on Bluetooth signals. Another popular streaming TV series will be back at Langley to film this fall. But their collaboration goes far deeper than that, officers said. Creative minds in Hollywood and the entertainment industry have long had a role at the Central Intelligence Agency, devising clever solutions to its most vexing problems, such as perfecting the art of disguise and harnessing a magician's ability to cast spellbinding illusions. Indeed, in the 1950s, a magician from New York named John Mulholland was secretly contracted with the agency to write a manual for Cold War spies on trickery and deception. These days, the officers said, creative skills are more valuable than ever in such a technologically complex world. 'You're only limited by your own imagination — don't self-censor your ideas,' said Janelle, a CIA public affairs officer, granted the ability to speak under her first name at the request of the agency. 'We're always looking for partners.' David McCloskey, a former CIA analyst and author of 'Damascus Station' and other spy thrillers, offered several theories on why the agency might be interested in fostering a robust relationship with Hollywood, calling it 'a two-way street.' 'There definitely have been operational applications for espionage,' McCloskey said. 'It's probably the exception to the rule, but when it happens, it's compelling.' It's easy to see why CIA leaders would be interested in Hollywood, he said, in part to shape impressions of the agency. 'But their bread and butter business is receiving people to give secrets,' he continued, 'and part of that is getting close to people in power.' 'The closer you are to Hollywood,' McCloskey added, 'that's a really interesting 'in' to having a lot of interesting conversations.' Some of the CIA's most iconic missions — at least the declassified ones — document the agency's rich history with Hollywood, including Canadian Caper, when CIA operatives disguised themselves as a film crew to rescue six American diplomats in Tehran during the Iran hostage crisis, an operation moviegoers will recognize as the plot of 'Argo.' ''Argo' was almost too far-fetched to even believe,' said Brent, an in-house historian at CIA headquarters. 'It's almost more Hollywood than Hollywood.' Canadian Caper was both inspired by Hollywood and relied on Hollywood talent. Agent Tony Mendez had been a graphic artist before joining the agency and helping craft the mission. Another key player was John Chambers, the makeup artist who gave the world Spock's ears on 'Star Trek' and won an honorary Oscar for his trailblazing simian work on 'Planet of the Apes.' He was awarded the CIA's Intelligence Medal of Merit for his work on the covert rescue effort. Just a few years before, Howard Hughes, then one of the world's richest men and a tycoon in media, film and aerospace, agreed to work with the CIA to provide cover for an effort by the agency to lift a sunken Soviet nuclear submarine off the floor of the Pacific Ocean. Deploying Hughes' Glomar Explorer under the guise of mineral extraction, the CIA was able to salvage most of the sub before The Times broke a story blowing its cover — 'the story that sunk our efforts,' in CIA parlance. And another mission was made possible thanks to a device invented by a professional photographer — a gadget that later became the inspiration of an over-the-top scene in the blockbuster Batman film 'The Dark Knight.' In Project Coldfeet, CIA agents gathering intelligence on a Soviet station erected on a precariously drifting sheet of ice in the Arctic needed a reliable extraction plan. But how does one pick up an agent without landing a plane on the ice? The answer was the 'skyhook': Balloons lifted a tether attached to a harness worn by an agent high into the sky. A CIA plane snagged the tether and carried the agent off to safety. In 'The Dark Knight,' Batman makes a dramatic escape deploying the same kind of balloon-harness contraption. CIA leadership often says that acceptance into the agency is harder than getting into Harvard and Yale combined. Yet the agency still has challenges recruiting the type of talent it is looking for — either in reaching those with unconventional skills, or in convincing them that they should leave secure, comparatively well-paid, comfortable jobs for a secretive life of public service. It is no easy task managing work at the agency, especially with family, CIA officials acknowledged. Deciding if and when to share one's true identity with their children is a regular struggle. But Janelle said the CIA tells potential recruits there is a middle ground that doesn't require them to entirely abandon their existing lives. 'People don't have to leave their companies to help their country and to work with CIA,' Janelle said. 'People come here because they love their country and know they can make a difference.' Janelle is part of a team that regularly engages with creatives who want to portray the agency or spies as accurately as possible. 'Some producers and directors reach out and they do care about accuracy,' Janelle said, 'but they ultimately pick and choose what's going to work for the film or show.' CIA analysts have also been known to leave the agency for opportunities in the entertainment industry, writing books and scripts drawing from their experiences — so long as they don't track too closely with those experiences. Joe Weisberg, the writer and producer behind the television series 'The Americans,' and McCloskey, who is working on a fifth novel focused on U.S. and British intelligence, were both part of the agency before launching their writing careers. And as CIA alumni, they had to submit their works for review. 'There's a whole publication and classification-review process,' Brent said. That process can be a bit of a slog, McCloskey said: 'They quite literally redact in black ink.' But it is far more difficult for nonfiction writers than novelists. 'There could be bits of tradecraft, or alluding to assets, or people at the agency, which are clear no's,' McCloskey said. 'But with novels, it's not that hard to write them in a way to get them through the review board.' Try as they may, studios often repeat the same falsehoods about the CIA, no matter how often they are corrected. Officers and agents aren't the same thing, for one. And as disappointing as it may be for lovers of spy thrillers, the majority of officers are not licensed or trained to carry weapons. 'One thing Hollywood often gets wrong is the idea that it's one officer doing everything, when it's really a team sport here,' Janelle said. 'Zero Dark Thirty,' an Oscar-winning film released in 2012 about the hunt for Al Qaeda leader Osama bin Laden, was widely acclaimed but criticized by some within the intelligence community over the credit it lends a single, fictional CIA analyst for tracking him down. McCloskey sympathizes with the writer's dilemma. 'I can't have 35 people on a team. From a storytelling standpoint, it just doesn't work,' he said, acknowledging that little in the field of espionage is accurately captured on screen, even though there are plenty of former spies available to work as consultants. 'There's no lack of sources to get it right,' he said. 'It's that the superhero spy — the Jack Ryans and Jason Bournes — are pretty much the Hollywood representation of espionage.' However inaccurately glorified and dramatized, the agency hopes that Hollywood's work can keep the revolving door moving, inspiring atypical talent to join its ranks. 'We have architects, carpenters, people who worked in logistics,' Brent said. 'People might not realize the range of skill sets here at CIA.' And as Canadian Caper showed, sometimes spycraft requires stagecraft. It's possible that what's needed most to complete the next mission won't be oceanography or data mining, but costume design. Or maybe another ballerina.
Yahoo
01-07-2025
- Business
- Yahoo
North Carolina woman tells Ramsey Show hosts she and her ex both stopped paying the mortgage after they split
Janelle from Raleigh, North Carolina, says she 'did the ultimate no-no' when she bought a house with someone to whom she wasn't married. After about a year, they broke up and she moved out. Now, they're four months behind in mortgage payments, haven't been able to sell the house and are facing foreclosure. She's also racked up $25,000 in loans and credit card debt. Since she no longer communicates with her ex-fiance, she isn't sure how to fix her situation, so she called into The Ramsey Show to find out what her options are. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Both Janelle and her ex are on the mortgage and property deed. 'We're four months behind,' she told show cohosts, and while they've been trying to sell the home and recoup their losses, so far they haven't had any takers — and they still have $465,000 left on the mortgage. Now, Janelle says they're 'in the process of asking the mortgage company for a short sale to see if that's even possible.' 'I don't see a way out of this unless you guys can find a way to sell it before it forecloses,' cohost George Kamel said. First, however, they need to get caught up on their mortgage payments and try to avoid foreclosure. While her ex tried to float the mortgage for a few months, he's now stopped making payments. Janelle also stopped paying her share when she moved out because she's paying rent elsewhere. But, when your name is on the mortgage, that reasoning doesn't fly. 'You are legally obligated to pay that [mortgage],' cohost Ken Coleman said, 'whether you've moved out or not.' Janelle brings home about $6,000 a month after taxes, pays about $2,400 in rent and still has money leftover for her 'expenses,' which includes putting money aside into her 401(k). She also has about $4,000 in savings. 'We need to pause all of that.' Kamel advised. 'You need to act like everything is on fire. And you need to work on getting out of this house mess and paying off your debt.' They're about $12,000 in arrears on their mortgage, so they need to 'both put some skin in the game' to get caught up on payments. That means giving up any expenses that aren't necessary — including investments — until they're out of this hole. It could also mean Janelle getting a second job for a short period of time or her ex getting a temporary roommate until they can get caught up and eventually sell the house. 'That's going to be your best bet — just trying to sell this thing ASAP even if you have to lower the price,' Kamel said, 'instead of going through a short sale or, worst case, that foreclosure.' Read more: You don't have to be a millionaire to gain access to . In fact, you can get started with as little as $10 — here's how Buying property with someone you're not married to — whether a partner, friend or family member — can be rewarding but does come with legal and financial risks. It's a small, but still significant, percentage of homebuyers, with 9% of recent homebuyers being unmarried couples, according to the National Association of Realtors 2024 Profile of Home Buyers and Sellers Report. Long before you start searching for a home together, you'll need to decide on a budget and how much each of you will contribute. It's also a good idea to review each other's finances, including credit scores. You'll then have to decide on the ownership structure: joint tenancy (equal property ownership) or tenancy in common (unequal shares). If you're unmarried, lenders will assess the credit scores of each buyer. So, if your partner has a low credit score, that could impact your ability to get approved for a mortgage. On the flip side, if only one partner has their name on the mortgage and title, the other loses out on building equity (and if they split up). You'll also need to account for expenses above and beyond the mortgage, such as property taxes, insurance premiums, homeowners associations (HOA) fees, maintenance costs, utility bills and any other household expenses. While a 50/50 split makes this much easier — where each partner contributes half to the down payment, each pays half of the mortgage each month and they split the utilities and other household expenses — it doesn't always work out this way. Maybe one partner puts down money for the down payment, or they agree that one will pay the mortgage and the other covers the rest of the bills. Whatever the case, you'll want this agreement in writing. A cohabitation or joint homeownership agreement is a legally binding contract (preferably drafted by a legal professional) that details what will happen in the case of a breakup. This agreement should outline each person's rights and responsibilities, and what happens if they break up or one partner wants to sell. Otherwise, you'll have to come up with your own settlement — at a time when tempers could be flaring — or rely on the legal procedures in your state, meaning the court could make that decision for you. If you end up getting married, then you can update the ownership structure. But if you break up, having a legally binding agreement in place can help avoid a situation like Janelle finds herself in — and she'd understand that she can't just stop paying the mortgage because she moved out. 'You're going to need to start communicating — you guys entered quite the partnership here to then just flee the coop,' Kamel said, adding that even if they can't stand each other, 'you're kind of stuck right now until you guys figure out the next move.' This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-07-2025
- Business
- Yahoo
North Carolina woman tells Ramsey Show hosts she and her ex both stopped paying the mortgage after they split
Janelle from Raleigh, North Carolina, says she 'did the ultimate no-no' when she bought a house with someone to whom she wasn't married. After about a year, they broke up and she moved out. Now, they're four months behind in mortgage payments, haven't been able to sell the house and are facing foreclosure. She's also racked up $25,000 in loans and credit card debt. Since she no longer communicates with her ex-fiance, she isn't sure how to fix her situation, so she called into The Ramsey Show to find out what her options are. I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Both Janelle and her ex are on the mortgage and property deed. 'We're four months behind,' she told show cohosts, and while they've been trying to sell the home and recoup their losses, so far they haven't had any takers — and they still have $465,000 left on the mortgage. Now, Janelle says they're 'in the process of asking the mortgage company for a short sale to see if that's even possible.' 'I don't see a way out of this unless you guys can find a way to sell it before it forecloses,' cohost George Kamel said. First, however, they need to get caught up on their mortgage payments and try to avoid foreclosure. While her ex tried to float the mortgage for a few months, he's now stopped making payments. Janelle also stopped paying her share when she moved out because she's paying rent elsewhere. But, when your name is on the mortgage, that reasoning doesn't fly. 'You are legally obligated to pay that [mortgage],' cohost Ken Coleman said, 'whether you've moved out or not.' Janelle brings home about $6,000 a month after taxes, pays about $2,400 in rent and still has money leftover for her 'expenses,' which includes putting money aside into her 401(k). She also has about $4,000 in savings. 'We need to pause all of that.' Kamel advised. 'You need to act like everything is on fire. And you need to work on getting out of this house mess and paying off your debt.' They're about $12,000 in arrears on their mortgage, so they need to 'both put some skin in the game' to get caught up on payments. That means giving up any expenses that aren't necessary — including investments — until they're out of this hole. It could also mean Janelle getting a second job for a short period of time or her ex getting a temporary roommate until they can get caught up and eventually sell the house. 'That's going to be your best bet — just trying to sell this thing ASAP even if you have to lower the price,' Kamel said, 'instead of going through a short sale or, worst case, that foreclosure.' Read more: You don't have to be a millionaire to gain access to . In fact, you can get started with as little as $10 — here's how Buying property with someone you're not married to — whether a partner, friend or family member — can be rewarding but does come with legal and financial risks. It's a small, but still significant, percentage of homebuyers, with 9% of recent homebuyers being unmarried couples, according to the National Association of Realtors 2024 Profile of Home Buyers and Sellers Report. Long before you start searching for a home together, you'll need to decide on a budget and how much each of you will contribute. It's also a good idea to review each other's finances, including credit scores. You'll then have to decide on the ownership structure: joint tenancy (equal property ownership) or tenancy in common (unequal shares). If you're unmarried, lenders will assess the credit scores of each buyer. So, if your partner has a low credit score, that could impact your ability to get approved for a mortgage. On the flip side, if only one partner has their name on the mortgage and title, the other loses out on building equity (and if they split up). You'll also need to account for expenses above and beyond the mortgage, such as property taxes, insurance premiums, homeowners associations (HOA) fees, maintenance costs, utility bills and any other household expenses. While a 50/50 split makes this much easier — where each partner contributes half to the down payment, each pays half of the mortgage each month and they split the utilities and other household expenses — it doesn't always work out this way. Maybe one partner puts down money for the down payment, or they agree that one will pay the mortgage and the other covers the rest of the bills. Whatever the case, you'll want this agreement in writing. A cohabitation or joint homeownership agreement is a legally binding contract (preferably drafted by a legal professional) that details what will happen in the case of a breakup. This agreement should outline each person's rights and responsibilities, and what happens if they break up or one partner wants to sell. Otherwise, you'll have to come up with your own settlement — at a time when tempers could be flaring — or rely on the legal procedures in your state, meaning the court could make that decision for you. If you end up getting married, then you can update the ownership structure. But if you break up, having a legally binding agreement in place can help avoid a situation like Janelle finds herself in — and she'd understand that she can't just stop paying the mortgage because she moved out. 'You're going to need to start communicating — you guys entered quite the partnership here to then just flee the coop,' Kamel said, adding that even if they can't stand each other, 'you're kind of stuck right now until you guys figure out the next move.' This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-06-2025
- Business
- Yahoo
We're 68 and just retired, but instead of downsizing like our friends, we want to upsize. Are we crazy?
Janelle and her husband, both 68, recently retired and are ready to make the most of their golden years. They own a condo, which originally they thought would be ideal for retirement. But now, with an active lifestyle, and more time spent babysitting their grandkids, they're wondering if it actually makes sense to upsize during retirement. Janelle spent most of her career commuting to an office, while her husband spent long stretches on the road for work. Now that they're retired, they want to enjoy their home. Janelle, who recently took up watercolours, wants a space to herself where she can paint, preferably a sunroom overlooking a garden. Her husband wants a 'man cave' where he can watch football and Formula One. A vast majority of Canadians (94%) over 45 agree that aging in place would allow them to maintain independence, comfort and dignity throughout the aging process, according to an Ipsos poll. For some, that may mean downsizing. Nearly half (46%) of adults approaching retirement intend to downsize their home within two year of exiting their full-time career, according to a Royal LePage poll. However, 47% of respondents say they will not, which gives some credence to Janelle and her husband's retirement goals. But could it make sense for some retired couples? Here's what Janelle and her husband might want to consider before making a move. Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich — and 'anyone' can do it 5 essential money moves to help boost your net worth today — here's how to up your money game in 2025 (and you can complete each step within minutes) Are you rich enough to join the top 1%? Here's the net worth you need to rank among Canada's wealthiest — plus a few strategies to build that first-class portfolio Upsizing can enhance quality of life, providing more space for family visits or home-based hobbies as many retirees are 'realizing their dreams' of spending more time with family and friends and pursuing hobbies. It allows for flexibility along the continuum of life. It could make sense for multigenerational households, — say, if you're regularly babysitting your grandchildren — or if your adult children help out with caregiving duties. It could provide space for a live-in caregiver, or serve as an extra source of income if you rent out a room, basement apartment or garden suite. Moving is costly, from selling your home and buying a new one to moving costs themselves, which can range from $600 to $6455, depending on whether you use a professional moving service to relocate either locally or to another province, according to Move Advisor. You may not net as much from your sale as you hope, meaning you may have to dip into your retirement savings or borrow money to get a bigger home. Currently, it's a balanced market nationwide, with only Ontario is considered a buyer's market according to WOWA. Furthermore, the average home price across Canada has only dipped 1.1% over the past 12 months. Meanwhile, the prime rate in Canada for a mortgage is 4.95%, thanks to the Bank of Canada's decision to hold its rate at 2.75% Even if you buy a big home in a more affordable area, larger homes come with higher utility bills, maintenance and insurance costs. If you need to hire someone for maintenance and repairs, such as regularly mowing the lawn, you'll need to account for that in your retirement budget. While it may be unpleasant to think about, if one spouse dies sooner than expected, or if the grandkids don't visit as often as you counted on, then a big, empty house could also end up feeling rather lonely. Read more: Here are — and very quickly regret. How many are hurting you? Before upsizing, Janelle and her husband may want to answer some key questions: Are there other expenses we need to budget for, such as more furniture to fill a larger home? Can we afford this while still preserving a financial cushion for emergencies and health care? Are we prepared for the extra work (such as maintenance) that comes with a larger home? Will we still want or be able to live in a bigger space in 10 to 15 years? Is this larger home suitable to an aging-in-place lifestyle (e.g., are there too many stairs)? How will this move affect our estate plan and heirs? Working with a financial advisor to run the numbers can help couples like Janelle and her husband determine whether upsizing would be the right move for their retirement years. 1. Ipsos: Nearly all Canadians (96%) Aged Forty-Five and Older Say Aging in Place Enables the Preservation of Independence and Dignity (May 16, 2025) 2. Royal LePage: The new real estate reality for retirees: Exiting the workforce with mortgage debt (May 27, 2025) 3. Move Advisor: What's the Cost of Moving Across Canada?, by Joshua Green (May 27, 2025) 3. WOWA: Canadian Housing Market Report I'm almost 50 and don't have enough retirement savings. What should I do? Don't panic. Here are 6 solid ways you can catch up Warren Buffett's Berkshire Hathaway bought nearly 26 million shares of this Canadian company in 2024 — here are 3 ways to help you invest like the Oracle of Omaha What would you do if you had an emergency vet bill worth $5,000 tomorrow? Here's how to protect your furry friend (and keep your wallet intact) Billionaires like Mark Zuckerberg and Jay-Z have taken out mortgages for homes they can easily afford — here's why This article provides information only and should not be construed as advice. It is provided without warranty of any kind. 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