Living
Protecting your nest egg
Even with the economy recovering, it’s best to plan for rainy days

Take steps to prevent future crises and protect your own nest egg.
StatePoint — From increased unemployment to commonplace home foreclosures, it’s hard to forget the devastating effects of the 2008 financial crisis and the worst recession since the Great Depression.
While the hope is that regulatory bodies and bureaus created in the crisis’ wake will help prevent a recurrence, some experts say these reforms were shaped by the same entities responsible for the crisis, but that citizens have the power to chart a different course for their own economic futures.
“Whether policies were formed with selfless or selfish intentions, you don’t need to quietly agree to them, especially if they are misguided. We have a system that can respond to the efforts of individual citizens,” says Jay W. Richards, Distinguished Fellow at the Institute for Faith, Work & Economics and author of the new book, “Infiltrated: How to Stop the Insiders and Activists Who Are Exploiting the Financial Crisis to Control Our Lives and Our Fortunes.”
In his book, Richards suggests that complacency on the part of ordinary citizens will lead to more serious financial disasters. He encourages readers to take steps to prevent future crises and protect their own nest eggs:
• Get informed: “Many culpable entities used the crisis fallout to lay blame elsewhere and increase their own power,” Richards says. “But with knowledge, prudence and intelligent action, history won’t have to repeat itself.”
“The only way to prevent deception and cynicism during future crises is for ordinary citizens to get informed and outraged enough to change our fiscal and regulatory trajectory,” says Richards.
• Take control: Online educational resources can help you get informed. To brush up on basic financial skills, visit MyMoney.gov, a site created by the Financial Literacy and Education Commission with information on how to save, what to consider when borrowing, and how to make a budget.
• Diversify: Experts recommend balancing different types of assets, such as cash, stocks, bonds and commodities. Having different types of investments means you might be better shielded from economic crises, because some assets might fall while others might rise.
• Don’t rely on your home: If the recession taught people anything, it’s not to rely too much on home equity for retirement. Many think their homes are more valuable than they really are or will be when it’s time to retire.
• Be philanthropic: “Those concerned about the future should be the first to grow effective local organizations providing real safety nets for the destitute,” says Richards, who believes philanthropy is a moral responsibility best left to communities.
• Think of the future: When a consumer borrows, she or he alone bears the debt. However, when the government over-spends for short-term goals, future generations are expected to foot some, or all, of the bill. “This is immoral and no fancy economic theory can change that,” Richards says.
Be civic: Your vote matters to politicians. Call, write and visit them to express concerns over economic regulations you don’t support.
More information about “Infiltrated” can be found at InfiltratedTheBook.com.
Remember, you don’t need a PhD in economics to stay informed.
Advice
I’m 66, he’s 27. Is it love or am I being played?
What to do when your friends don’t trust your boyfriend
Dear Michael,
I’m 66, Peter is 27. I’m retired, financially comfortable. He’s a grad student.
We met last summer at the beach and started dating. Now we’re living together. I want this to be forever, and Peter says he does too.
The problem: Some of my friends are telling me that Peter is taking me for a ride.
I know all the cliches about older gay men thinking they’re in a loving relationship when the truth is they’re just some young guy’s sugar daddy. But I don’t feel old. And I think I have a grip on reality.
I do support Peter financially now, but he is eventually going to have a job. And if I didn’t pay for things, there’s no way he could share my life in terms of travel, dining out, etc. I want to have fun with him and am happy to foot the bill.
My friends say there’s no way he could be attracted to anything but my money. But I take great care of myself and look good. We don’t have the greatest sex life but I think it’s pretty hot. Peter says he is attracted to older guys.
And there’s much more to our relationship than sex. Despite the age difference, I think we are kindred spirits, and Peter says he feels the same. We both like travel, talking about politics, have similar taste in books and movies and TV shows. Lots of common interests.
I can deal with the age/money criticisms, but there’s some other stuff I’m more worried about.
One of my friends says he saw Peter making out with someone much younger over the summer. That worries me. I asked Peter about it and he said it wasn’t true.
Peter does go out, solo, because he can stay up a lot later than I want to. My party-till-dawn days are over. He says he’s just dancing and hanging out with friends. I want to believe him.
One night he didn’t come home and it unsettled me. He told me it just got too late so he crashed at a friend’s place. I thought of asking the friend about it but I didn’t want to seem like I was spying on Peter, and I also was afraid that the friend would say this didn’t happen. If it didn’t, then what? Do I break up with him for lying and cheating? I really don’t want to be old and alone. I can’t tell if my friends are making me paranoid or if I am being played.
Michael replies:
Obviously, I can’t know if Peter is telling you the truth or not. But I can give you some pointers on dealing with trust in a relationship. The main person to focus on trusting is yourself.
Do you trust your own sense of whether or not Peter is being honest with you? If not: What would it take for you to do so? Could you let yourself see things that you are currently not wanting to let yourself see? What is now stopping you from seeing him accurately?
You describe many ways in which you think the two of you are compatible. How about in terms of values? Do you respect Peter’s character? Can you get a good read on whether he is just telling you what you want to hear in order to stay in the relationship, or giving you an honest representation of where he really stands?
I understand that you’re afraid of finding out that Peter is lying to you, and that you don’t want to have to deal with ending the relationship. Given the possible ramifications, that makes sense. But do you want to let your fear stop you from keeping your eyes open?
When we decide to see things not as they are, but as we wish they were, or tell ourselves that what we see isn’t what we’re seeing, we end up getting hurt. And we do a great disservice to ourselves by discrediting our own internal witness, making it difficult to trust both ourselves and other people.
Only you can decide which would be preferable: Living with someone whom you don’t trust to be honest with you, or being alone.
In considering this possibility, keep in mind that none of us have a guarantee that we won’t be hurt in our relationships. In fact, it’s pretty much certain that at times we will be. Partners do break each other’s hearts, sometimes deliberately, sometimes not. That in itself is no reason to end a relationship.
But being with someone who is purposely deceiving you doesn’t sound that appealing.
Our relationship difficulties often give us possibilities to grow. Your fears about Peter’s infidelity are an opportunity for you two to have some conversations about how important you each think honesty is in a relationship; and what risks you are willing to take in order to have an honest relationship.
People are often afraid to speak the truth because of the possible consequences. But if you don’t speak up, you can easily wind up in a hollowed-out relationship where neither of you is willing to address what is really going on with each of you. That is the opposite of intimacy.
And, having a standard where each of you is forthcoming would avoid the minefield of a distrustful relationship where one of you is the detective and one of you is the suspect. That dynamic creates an imbalanced relationship and often leads to the watched partner wanting to get away with things.
Bottom line: Are each of you interested enough in an intimate relationship to be consistently honest with each other, even if your partner may not like what you say? And to do your best to respond thoughtfully to your partner’s honesty, even when he tells you something that you do not want to hear?
Michael Radkowsky, Psy.D. is a licensed psychologist who works with couples and individuals in D.C., Maryland, Virginia, New York, and all PSYPACT states. He can be found online at michaelradkowsky.com. All identifying information has been changed for reasons of confidentiality. Have a question? Send it to [email protected].
One of the biggest headaches of the new home process is the actual moving part. By the time someone is buying a home, most people are beyond the “I just need a pickup truck, a pizza and a case of beer for my friends.”
If that is still someone’s preferred way to move, that’s great. However, many people find they need a much more robust plan. It can also trigger a lot of feelings about items one owns, what to do with them, do they have too much, should I keep this memento that I never use? Etc.
Moving is a chance for a person to “clean house” literally, figuratively, spiritually and energetically. A person can figure out which items they want to keep, and which need to go. As someone who recently moved across the country, I can speak to this experience. It’s also time for what people call “the fresh start effect.” This phenomenon, according to psychologists, can happen in little moments (like the start of a new work week) and bigger moments (such as moving from one home to the next).
The fresh start effect offers these benefits often mentioned by psychologists:
- Mental Accounting: Dates act as chapter breaks, letting you put past failures into a previous period.
- Psychological Distance: You separate your flawed past self from your aspirational future self (“That was the old me”).
- Optimism Boost: New beginnings clear mental clutter and increase your sense of agency and control
Does this mean that “the new you” will be the perfect version you envisioned? Probably not. We are humans. But it might mean you get a chance to “leave some of the old you behind” within the walls you used to live in, and now have a chance to have a new layout, a new décor, a new color pattern, new wallpaper, donate old furniture and books or magazines, throw out clothes you no longer use or fit in, and enjoy the opportunity to literally use the, “Does this spark joy?” method that was made so popular by Marie Kondo in her Netflix series.
So, for all its hassle and headache, moving is a chance to shake off the “old you” and try on the new you, to incorporate the items you would like to keep and use more of, and shed the items, habits, and ways of thinking that you feel no longer serve you.
I can speak to the experiences that several of my clients had when they moved from a previous residence to a newer one. It usually coincided with a change in relationship status, a change in employment, a change in family size, but sometimes it just seemed to correlate to a new attitude and perspective that the client was really hoping for.
I have literally had clients come to me after the fact, in tears, that they were so happy they made the decision to move out of a situation that no longer served them, and move into one that felt like a much better fit.
Change can be annoying and overwhelming at times, but usually most people come out the other side, not wanting to return to the way they were before.
Joseph Hudson is a referral agent with RLAH. Reach him at 703-587-0597 or [email protected].
Despite a U.S. political climate that has made electric vehicles about as welcome as a vegan at a Texas barbecue, automakers haven’t gotten the memo. The 2027 BMW iX3 and Rivian R2—in showrooms soon—prove the point. But think of them as distant cousins: one arrives impeccably dressed; the other probably has a kayak strapped to the roof.
BMW iX3
$62,000
Range: Up to 434 miles
0 to 60 mph: 4.7 seconds
Cargo space: 30.4 cu. ft.
PROS: Huge driving range. Distinctive styling. Cutting-edge interior.
CONS: Quirky digital controls. Only one U.S. trim level. Pricey options.
WHAT’S NEW: This is BMW’s first production model on its state-of-the-art Neue Klasse platform, radically changing the technology, cabin and electric drivetrain.
The iX3 arrives on our shores in one trim level, the iX3 50 xDrive. Load it up with options and you can sail well past $80,000.
Depending on configuration, this luxe EV delivers an astonishing range before recharging. And a dual-motor, all-wheel-drive system produces 463 horsepower, which allows you to tootle around as fast as a Porsche 718 sportster.
The new “Panoramic iDrive” spreads information across the base of the windshield, supplemented by a central display and steering-wheel controls. An available 3D head-up display adds even more info. It’s futuristic, busy and unmistakably BMW—like someone decided the dashboard needed its own coming-out party.
Then there’s the “Heart of Joy” computer, which coordinates the motors, braking and steering for sharper responses and smoother control. The name may sound like something from a self-help retreat, but the innovation makes the iX3 seriously entertaining to drive.
You also can charge the iX3 from 10 percent to 80 percent in just 21 minutes. Nice.
This isn’t merely an electric X3 with the gasoline bits removed. It’s a tech reset for BMW. Compared with the R2, the iX3 is more polished, more luxurious…but, alas, considerably pricier.
RIVIAN R2

$45,000
Range: Up to 345 miles
0 to 60 mph: 5.9 seconds
Cargo space: 28.7 cu. ft.
PROS: Affordable luxury. Rugged looks. Clever storage.
CONS: No smartphone integration. No glass-roof shade. Touchy touchscreen.
WHAT’S NEW: Everything—the R2 is Rivian’s all-new, smaller electric SUV, and it brings the brand’s adventure-first attitude to a price point far below the larger R1S.
If the BMW iX3 is wearing a beautifully tailored jacket, the Rivian R2 has its sleeves rolled up.
With edgy styling, this is no anonymous crossover wearing an EV costume. Chunky details. Upright proportions. Distinctive lighting all give off an outdoorsy vibe without turning the R2 into a rolling REI catalog.
There are four configurations, with pricing from $45,000 to $58,000. That’s a big difference from the BMW—and potentially the R2’s biggest weapon.
The stats aren’t shabby, either. Driving range is from 275 to 345 miles. The dual-motor, all-wheel-drive setup produces between 350 horsepower and a frankly bonkers 656 horsepower. And the high-performance model lets you zip from 0-to-60 mph in just 3.6 seconds.
Drag-racing credentials? Absolutely!
Inside, there is lots of clever packaging, with flexible seating and generous storage. This EV is designed to carry actual stuff, not merely impress your neighbors.
Yes, there are quirks. Rivian skips Apple CarPlay and Android Auto, while everyday controls—some of which are less than intuitive—live on the touchscreen. And the panoramic glass roof lacks a conventional shade. Huh?
For some owners, those will be minor annoyances. For others, they’ll become daily reminders that Rivian marches to its own beat.
Perhaps that’s not a bad thing, though. The R2 feels less buttoned-up, more mischievous. It’s the automotive equivalent of Billy Porter ignoring the dress code and somehow looking better than everyone who followed it.
-
National5 days agoFor lesbian victims of domestic violence, competent care is scare
-
Health5 days agoUnited States Conference on HIV/AIDS grapples with federal budget cuts
-
Commentary4 days agoWashington Blade responds to concerns over White House pool duties
-
LGBTQ Non-Profit Organizations4 days agoGov. Whitmer to serve as keynote speaker for Saturday’s HRC National Dinner
