This Week’s Money Map:

• 💡 Life insurance: The coverage you need (but don't want to think about)

• 🚗 Electric or gas? How to outsmart rising car insurance costs

• 💸 2025 tax shake-up: Will you pay more or less this year?

• 🤑 Bullion breaks records: How to ride the gold surge

💡 Life insurance: The coverage you need (but don't want to think about)

Let's be honest: nobody gets excited about shopping for life insurance. It's right up there with estate planning and writing a will on the list of adulting tasks we'd rather avoid. But here's the thing — if someone depends on your income, you need it.

Who actually needs life insurance?
Life insurance makes sense if you have dependents relying on your paycheck, carry a mortgage or other debt, or support aging parents. Skip it if you're financially independent with no dependents and put that money toward retirement accounts instead.

Here's what most people don't realize: a healthy 35-year old can get $500,000 in term life coverage for about $27 per month. That's cheaper than your streaming subscriptions.

Just released: Our 2025 life insurance rankings
We just analyzed rates, financial strength, customer complaints, and product offerings across the industry. Here's what we found:

Best Term Life Insurance
Best Whole Life Insurance
Cheapest Life Insurance

Term vs. whole life: What's the difference?

Term life insurance is the right choice for 95% of families. It costs $30 to $75 monthly and covers your highest-risk years when you have a mortgage and kids to support. Think of it like renting coverage for the decades you need it most.

Whole life insurance (a type of permanent coverage) only makes sense if you've maxed out retirement accounts and need estate planning tools. It costs five to 10 times more than term. Most families should stick with term and invest the difference.

The bottom line: A $500,000 term policy for 20 years costs just $7,200 in total premiums but delivers 69 times that value if something happens to you. Most families can afford $30 a month for that protection.

How agents jack up your premiums (and how to outsmart them)
Many insurance agents work on commission. The higher your premium, the bigger their paycheck. That’s why some will try to nudge you toward pricier options like whole life, even when a simple term policy is all you actually need. Here’s how to stay in control:

• Compare multiple quotes before you commit. Prices vary widely between companies, and the first quote is rarely the best one.

• Use an unbiased online comparison tool. It shows you rates side-by-side, minus the pushy sales pitch.

• Ask for the base premium only. Skip the add-ons at first — you can always tack them on later if you truly need them.

Life insurance isn’t just protection; it’s power. Pick the plan that fits you and buy yourself real peace of mind.

🚗 Electric or gas? How to outsmart rising car insurance costs

Everyone’s talking about how electric cars save money — no gas, fewer oil changes, cleaner conscience. But here’s the shocker: while you save at the pump, your insurance bill might eat those savings alive. The good news? You can flip the script if you know how the game works.

Why EV insurance is so high
Electric car insurance still costs 30–50% more than gas car coverage. And the reason has nothing to do with insurers “hating EVs.” It’s about math and repair costs.

Electric cars cost more to build, fix, and replace. That massive battery sitting under the floor? It can cost $4,000 to $20,000 to replace after a collision. EVs also use advanced sensors and specialized tech that require highly trained mechanics, and those mechanics aren’t cheap or easy to find in some states.

That’s why models like the Tesla Model S top the charts at around $3,365 per year to insure, nearly double the national average of $1,739. The Porsche Taycan follows close behind at $3,093, while other Teslas — the Model X, Y, and 3 — range from about $2,000 to $2,900 annually. Even the Audi e-tron and BMW i3 hover above $1,700 a year.

By comparison, a gas-powered Honda CR-V costs about $1,334 per year, and the Subaru Forester sits at $1,291 — proof that traditional vehicles still win on insurance costs.

But not all EVs break the bank. The MINI Electric, for instance, averages $1,389 per year, roughly 20% lower than the national average. It’s proof that car model choice matters, and that’s where your strategy comes in.

How to score the best car insurance deal — electric or gas
Getting a better rate isn’t about luck, it’s about knowing where to look and what questions to ask.

• Compare multiple quotes. Never settle for the first number you get. Different insurers price EVs differently, and the gap can be huge. Get at least three quotes — one for your car, one for a similar gas model, and one for an EV — to see where the sweet spot lies.

• Pick smart, not flashy. Simpler electric cars like the Hyundai Ioniq, MINI Electric, or Chevy Bolt are cheaper to insure because they cost less to repair. A high-end Tesla might look sleek, but its repair bill can make your insurer sweat — and that means higher premiums for you.

• Ask for a cost breakdown. Always request details on what’s inflating your premium — liability, collision, or battery coverage. Knowing the breakdown helps you spot what’s negotiable.

• Use discounts to your advantage. Bundling home and auto insurance, joining a safe-driver program, or reporting lower annual mileage can trim your bill significantly. Don’t assume your insurer will apply discounts automatically — you have to ask.

• Review your policy yearly. The EV market is evolving fast. As battery replacements get cheaper and repair networks expand, premiums will shift. 

Whether you’re behind the wheel of a Tesla or a trusty gas-powered SUV, the power to save comes down to comparison, timing, and asking the right questions. Don’t wait until renewal season to find out you’ve been overpaying. Shop smart, compare now, and let the competition between insurers work in your favor. 

💸 2025 tax shake-up: Will you pay more or less this year?

Big news: the tax rules changed for 2025, and whether you’ll pay more or less depends entirely on what you do right now. This isn’t just “politics and policy” stuff — this is about your paycheck, your refund, and how much you get to keep when you file next year.

What’s changing in 2025
This year marks one of the biggest updates to the tax code in years. Some changes are good news for everyday earners — others could shrink your refund if you’re not ready. Here’s what’s new and what it means for you:

• Tax brackets stay steady — The familiar rates (10%, 12%, 22%, 24%, 32%, 35%, 37%) aren’t going anywhere for now. Translation: no surprise federal rate hike yet.

• Standard deductions are bigger — More of your income is now tax-free before Uncle Sam takes a bite.

  • Singles: about $15,750

  • Married couples: about $31,500

  • Heads of household: about $23,600 — that’s a few hundred dollars more than last year, which means slightly smaller tax bills for most.

• Extra help for seniors — If you’re 65 or older, you can claim an extra deduction of up to $6,000 (double for couples).

• A break for high-tax states — The cap on the state and local tax (SALT) deduction jumped from $10,000 to $40,000, but only if your income is under about half a million. Above that, you’re back to the $10K cap.

• New perks for certain workers — If you rely on tips or overtime, there’s a new limited-time deduction (through 2028) that lets you write off up to $25,000 in tips and $12,500 in overtime pay, depending on your filing status.

Who wins and who pays:
✔️ If you’re a younger earner (20s–40s): You’ll probably see a small win — lower taxable income thanks to the bigger standard deduction and steady tax brackets.
✔️ If you’re a homeowner or live in a high-tax state: You might finally get a break, depending on your income level.
✔️ If you’re 65+: You’ll likely pay less, thanks to the senior deduction boost.
✔️ If you’re a high-income earner ($500K+): Expect fewer deductions and possibly a higher bill. The SALT relief fades fast at that income level.

What you need to do now
This isn’t a “wait and see” situation. Taxes reward those who plan early. Here’s what that looks like this year:

1. Recheck your withholding. Don’t assume your paycheck is “right.” Adjust it now so you’re not shocked in 2026.

2. Estimate your 2025 income. Raises, bonuses, and side hustles can push you into a higher bracket or shrink deductions.

3. Track your tips and overtime. Those new deductions are worth real money — but only if you can document them.

4. Run a midyear tax checkup. Use an online calculator or meet with a tax pro before the holidays. Small tweaks now can save you hundreds later.

5. Think ahead if you’re close to retirement. The new senior deduction can lower your taxable income, but only if you structure withdrawals smartly.

The 2025 tax law isn’t a disaster, but it’s a wake-up call. Some people will save more this year, while others will accidentally pay more simply because they didn’t plan ahead. The key is knowing where you stand and adjusting early.

🤑 Bullion breaks records: How to ride the gold surge

Gold is blazing record highs. As safe-haven demand rises in response to market uncertainty, inflation pressures, and rate expectations, gold has broken past $4,000 per ounce. It’s leading many investors to ask: “Is it too late? And how can I actually get exposure?” Here’s what you need to know before jumping in. 

Why gold is rallying
A few key factors are pushing gold upward:

• Rate cut expectations: As central banks hint at lower rates, the opportunity cost of holding non-yielding assets gets smaller, making gold more attractive.
• Weak dollar and global uncertainty: A softer dollar amplifies gold’s appeal internationally, and geopolitical stress makes it a go-to hedge.
• Institutional demand and central bank buying: Institutions and sovereigns are piling in, adding to the pressure.

All that said, the rally doesn’t guarantee a straight line upward. Volatility is inevitable, and timing matters.

How you can invest
Here’s how most investors get exposure to gold:

1. Physical gold (bullion, bars, coins)
You hold the metal.
Pros: direct ownership, no counterparty risk (other than storage).
Cons: storage cost, insurance, risk of fraud, and liquidity can be lower. Larger bars often carry lower margins, but they are harder to liquidate in small amounts.

2. Gold ETFs / Exchange-Traded Products (ETPs)
These track the gold price and let you buy/sell like a stock.
Pros: high liquidity, easy access, lower cost than owning physical.
Cons: you don’t hold the metal, and some ETFs use derivatives, which introduce risks.

3. Gold mining stocks/funds
Buying shares in companies that mine gold or investing in funds that hold several miners.
Pros: potential for leverage (when gold rises, miners can outperform).
Cons: company risk (management, cost, exploration), performance may lag in downturns.

4. Gold futures and options
Advanced tools for more experienced investors. These let you speculate on price movement with leverage.
Pros: high upside potential.
Cons: high risk, margin calls, complexity, and possibility of big losses.

5. Gold-backed bonds or certificates
Some institutions issue gold certificates or bonds backed by physical gold.
Pros: this has some of the benefits of physical gold without storage.
Cons: counterparty risk — always check the issuer’s credibility.

Smart tips before you invest

• Decide how much: Many investors cap gold at 5–10% of their portfolio as a hedge, not the core.

• Mind the extra costs: Physical gold has markups; ETFs have expense ratios; stocks have dividends or lack thereof.

• Think long term: Buying gold is often a hedge or insurance play, not a speculative asset you flip daily.

• Watch tax rules: In many jurisdictions, gold is treated as a “collectible,” which can mean higher capital gains tax rates.

• Check for authenticity and counterparty risk: Especially for physical gold, work with reputable dealers.

Bullion creeping above $4,000 isn’t necessarily “too late” — it simply changes the risk/reward. Gold can still play a valuable role as a hedge, especially in uncertain times, but choose your method (physical, ETF, mining stocks) wisely and position it strategically in your broader portfolio.

That said, this article is for educational purposes only and shouldn’t be taken as investment or financial advice. Always do your own research or consult a licensed advisor before making any investment decisions — especially in markets as volatile as gold.

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The MoneyGeek Team

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