However, only 53% of LGBTQ+ adults own a home, according to published in 2024 by the American Economic Association. Compare that with nearly 73% of non-LGBTQ+ adults. A 2024 from the Urban Institute uncovered a similar gap.

That gap doesn’t seem to be due to a lack of interest in homeownership. surveyed LGBT consumers in 2023 and 83% they would like to buy a home or continue to own a home.

A variety of factors seem to drive down LGBTQ+ homeownership, and recent changes to the landscape have some wondering whether things will get better or worse for homebuyers in this community. The federal government is narrowing how discrimination is identified under the at the same time that some mortgage lenders are embracing AI as part of their mortgage underwriting process.

Could these two shifts affect LGBTQ+ homebuyers? Experts say it’s hard to tell.

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The Gap in Homeownership

There’s no one single factor that accounts for the 20-percentage-point gap in homeownership between LGBTQ+ and non-LGBTQ+ adults, according to Alex Cruz, executive director of the LGBTQ+ Real Estate Alliance. Instead, he says it is attributable to things such as employment discrimination and loss of family support, which have helped create “wealth gaps over decades.” Combined with today’s high housing prices, homeownership is out of reach for many in the LGBTQ+ community.

“Sexual orientation is not something that’s ever addressed on an application,” says Taylor Tassone, a mortgage broker and owner of Tayton Capital, a mortgage company operating in Colorado and Florida. While a person’s LGBTQ+ status is not spelled out on an application, there are indirect factors that can influence whether a person receives a mortgage. Those include income, savings and credit scores.

Age accounts for more than half the homeownership gap, the Urban Institute says. It notes that LGBTQ+ community members tend to be younger, which means they typically do not yet have the savings or credit scores needed to buy a home. LGBTQ+ people also tend to be concentrated in areas with a higher cost of living, the institute notes.

More than half — 57% — of LGBTQ+ people near the start of 2023 had a household income less than $50,000, according to the LGBTQI+ Economic and Financial Survey. Conducted by the Center for LGBTQ Economic Advancement & Research and Movement Advancement Project, the survey found most respondents had less than $5,000 in savings, and 11% said they had faced discrimination in banking and financial services.

Not every LGBTQ+ buyer has a low income or limited assets, though. “(My LGBTQ+ clients) have always seemed to be very well-qualified,” Tassone says. “Every client I’ve had in that community has been approved.”

Legal Changes to Identifying Bias

Whether more people could experience discrimination in the banking and financial industry is a question some are asking in light of changes to the Equal Credit Opportunity Act, known as the ECOA.

The law dates back to 1974 and was enacted to prohibit discrimination in lending decisions. Earlier this year, the Consumer Financial Protection Bureau amended rules related to the ECOA to do the following:

— Eliminate disparate impact provisions. This does away with the “effects test,” which prohibited policies and procedures that disproportionately affected certain groups, even if the policy or procedure appeared neutral. Now, there needs to be proof of intentional discrimination.

— Narrow the discouragement standard. Under the ECOA, it is illegal to discourage people from submitting an application for credit or a financial service. Under the new rules, only oral or written statements directed at potential applicants are prohibited. The rules don’t apply to business decisions such as where to advertise and place branches.

— Limit special purpose credit programs. Special purpose credit programs, known as SPCPs, that are offered by for-profit businesses can no longer limit program eligibility to members of protected classes. The CFPB said allowing SPCPs to limit eligibility in this manner would mean they are discriminating against people who aren’t part of the protected class.

How these changes, which go into effect on July 21, 2026, will affect LGBTQ+ homebuyers remains to be seen.

Many mortgage applications go through an automated underwriting process, but 14% are referred to a human underwriter for further analysis, writes Matt Schwartz, mortgage broker at VA Loan Network, in an email. “That is the point at which ECOA protection for disparate treatment (would) matter the most.”

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Could AI Affect LGBTQ+ Homebuyers?

The use of AI is another innovation that could affect LGBTQ+ homebuyers. Taking the human element out of lending decisions would seem to guarantee unbiased decisions, but that may not be the case.

“I think it can be potentially beneficial but also concerning since AI is only as good as the data put into it,” Cruz says.

It could be a problem if AI systems are trained on historical data. out of Iowa State University in 2019 found same-sex couples had a lower approval rate for mortgages than heterosexual couples, and when approved, they paid more in fees. Researchers, who looked at data from 1990 to 2015, found no evidence that same-sex couples had higher rates of on their loans.

“If historical data contains patterns of unequal access to credit or homeownership, those patterns can unintentionally influence future outcomes,” Tassone says.

Married couples with W-2 income may appear to be less of a credit risk to an AI underwriter than nonmarried co-applicants, according to Schwartz. “(That’s) because machine underwriter algorithms were trained on several decades of data in which the married filing joint scenario was the more conventional application structure.”

It could mean unmarried couples are more likely to be denied, but with the elimination of the ECOA’s effects test, it may not be a problem that lenders will be legally required to fix.

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Addressing the Issue of LGBTQ+ Homeownership

Several resources are available to help LGBTQ+ households achieve the dream of homeownership.

Cruz points to Pride Lending as an example of a company that specializes in working with LGBTQ+ homebuyers and other underserved communities. Working with a real estate professional who is a member of the LGBTQ+ Real Estate Alliance can also help eliminate the need for “coded conversations” as part of the homebuying process.

The ECOA changes mean some SPCPs that offered assistance programs specifically for LGBTQ+ buyers may no longer be offered, but there are other options available. A prime resource, Tassone says, is a state’s down payment assistance program. For instance, the offers up to $25,000 in down payment assistance to qualified homebuyers.

With the help of these programs and real estate and lending professionals, LGBTQ+ homebuyers may be able to receive the guidance they need to get to closing.

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Borrowers spent two years waiting in limbo until a federal appeals court judge signed the SAVE repayment plan’s obituary in March. That ruling — an approval of a settlement between the state of Missouri and the U.S. Education Department — that they would soon have to switch repayment plans and start paying their loans again.

In many cases, those new payments will be several times as high as the previous ones.

On July 1, student loan servicers will begin sending official notices to borrowers with instructions on how to select a new plan. After a borrower receives the notice, they’ll have 90 days to enroll in a new plan. If they take no action, they’ll automatically be transitioned to a standard 10-year plan.

Launched by the Biden administration in 2023, the SAVE plan was by far the most affordable and flexible repayment option available to borrowers. Regardless of their student loan balance, borrowers were given manageable monthly bills based on their discretionary income, often resulting in required payments below $100 and sometimes as low as $0.

Because of its generous terms, SAVE was immediately met with widespread borrower interest and swift legal opposition from several states. In July 2024, legal challenges plunged the plan into a temporary forbearance, and most borrowers haven’t made any payments since.

The entire situation has unearthed emotions that alarm Betsy Mayotte. As president and founder of The Institute of Student Loan Advisors, she fields thousands of questions from borrowers, offering free advice for how to navigate their specific situations. She says she’s never seen the level of rage, despair and panic she’s witnessing now.

“I’m seeing a lot of anxiety, I’m seeing a lot of fear, and I’m seeing way more threats of self-harm than I’ve ever seen with borrowers,” says Mayotte. “It’s very troubling to me. I’m not seeing anybody talk about that, but I see it every single day.

“They say, ‘I was told that my payment was going to be this, and I arranged the rest of my life around it. Now my payment’s going up by three, four, five times. How was I to know that?'”

U.S. News & World Report spoke with more than a dozen SAVE borrowers to get a glimpse of how the changes will affect their finances and how they’re feeling as they prepare to restart payments. They’re being identified only by their first names so they can discuss sensitive financial matters. Here are some of their stories.

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‘It’s Depressing’: Frugal Biker Faces Spike in Payments

Bryttani would much rather be cruising a two-lane Colorado mountain highway on her Honda Rebel 500 motorcycle than navigating the twists and turns of the SAVE plan.

Unfortunately, about a quarter of her take-home pay will soon be going toward her combination of federal and private student loans, so she’s preparing.

“I live a quite frugal life, but it’s going to have to be even more so,” says the 32-year-old, who makes $77,500 a year as an air pollution scientist for the state of Colorado. “I’m fortunate enough that I live with my best friend, so we split the rent. But there’s not room in the budget for it.”

Bryttani graduated in 2018 with a bachelor’s degree in chemistry and $80,000 in student loans, $45,000 of which are federal. While the SAVE plan set her payment around $70 a month, she says that will rise to $477 a month when she switches to the IBR plan.

We live in the richest country in the world and like three dudes have all of the money. What gives?

With that size of payment, she’s concerned she may default. “Rent and food will always take precedence,” she says.

Bryttani already keeps her expenses low. She cooks nearly all meals at home, and she can perform most maintenance on her car and motorcycle. However, she’s putting off some larger car repairs that she’d have to pay for. International travel, long a dream of hers, feels unlikely to ever happen, she says.

What bothers her, Bryttani says, is that it feels like the country isn’t willing to invest in its people.

“We live in the richest country in the world and like three dudes have all of the money,” she says. “What gives? I am someone that busted their ass, and all I have to show for it is a ball and chain of debt that I will struggle to keep up on for the rest of my life. It’s depressing.”

She says she hopes to hang onto the motorcycle as long as she can.

“If need be in the future I’ll sell it, but I would really like not to,” she says. “The only place I feel free is on my bike.”

‘I Was Four Payments Away’: A Florida Man’s 2-Year Quest to Pay the Government

Josh was nearing the forgiveness finish line two years ago when legal challenges forced the SAVE plan into temporary forbearance.

The 38-year-old public servant had made 116 of the 120 loan payments needed to get his $200,000-plus balance canceled through the Public Service Loan Forgiveness program. With SAVE halted, any new payments he sent in wouldn’t count toward PSLF.

“I was four payments away,” he says. “It is comical. If I don’t laugh about it, I’ll cry about it. I was done.”

Two years and countless phone calls later, he’s still stalled on 116.

A 2013 law school graduate, Josh started his career in private practice, earning around $160,000. But he soon decided he’d prefer a role that serves his community and took a position with the state of Florida that initially paid a $40,000 salary, accepting a six-figure pay cut. His pay has since climbed back up around $100,000, but he says income-driven repayment and 10-year forgiveness made it possible for him to make the move to public service.

It’s like fighting a ghost. You can’t get a hold of anyone. You just kind of sit and go like, ‘All right, I guess I’ll just wait until they tell me what I have to do next.’

He first paid his loans under the Income-Based Repayment plan and then switched to REPAYE. Like other REPAYE borrowers, Josh was automatically transitioned to SAVE when that plan launched in 2023, where his payments hovered around $200 a month.

If he does have to switch to a new plan, he estimates his new monthly bill will be around $1,600. But he shouldn’t have to, he says.

That’s because 18 months ago he sent in a request for something called PSLF buyback, a program that allows you to retroactively make payments for past months to get credit toward forgiveness. He asked to simply make a lump-sum payment to cover the remaining four months and wash his hands of his debt.

His request is still pending. His monthly calls to the Education Department yield no answers, he says. He’s received just one correspondence regarding his buyback application. That was when he filed a second request, fearing his initial one got lost in the system. A response informed him that his duplicate request was being canceled.

“I’ve been sitting in purgatory waiting for what seems to be a pretty simple math calculation,” he says. “I just want to pay them the money. It’s crazy to sit around and wish you could give the government money.”

Armed with an attorney’s wit and a briefcase full of SAVE plan analogies, Josh has tried to find some humor in the bureaucratic headaches he’s endured.

“It’s like fighting a ghost,” he says of his attempts to get an update on his buyback request. “You can’t get a hold of anyone. You just kind of sit and go like, ‘All right, I guess I’ll just wait until they tell me what I have to do next.'”

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Selling Plasma and Renting Her Yard: A Teacher Explores New Income Streams

This would typically be the time when Lauren could take a breath and relax after nine months in a classroom with seventh graders. But the 36-year-old Denver-area social studies teacher is bracing for her monthly loan payments to more than double when she transitions to a new repayment plan.

Lauren went back to school to earn her master’s in education in 2018, which allowed her to move up the school district pay scale but also left her with a current loan balance of about $39,000.

I’m worried. The $400 a month that they’re quoting me is what I have left over for groceries.

Now making around $73,000 a year, she estimates her student loan payments will jump from around $150, when she was last paying under SAVE, to roughly $400. She already pays monthly rent of $2,000 and has two dogs, one of which requires significant vet bills.

“I’m worried,” Lauren says about her ability to make higher monthly payments. “The $400 a month that they’re quoting me is what I have left over for groceries.”

She’s trying to be proactive and prepare for the extra bills.

“I’m already looking at random ways to make money now,” she says. She sells plasma twice a week, and she’s looked into renting out her yard for events. The most promising side job seemed to be tutoring, but she says most potential clients want someone who could continue to tutor through the school year, and she doesn’t believe she could carve out enough time outside of her regular teaching duties.

Lauren says the ending of the SAVE plan has her feeling a mix of “confusion and anger.”

“It just feels really crappy that they’re kind of going back on what was sold to us,” she says.

Disney on Ice: Family Delays Trips as Payments Rise, Tax Bomb Looms

Katherine acknowledges that her financial situation leaves her better positioned to withstand the bump in student loan payments than many others. With an established job in banking compliance that pays around $170,000 and a household income in the high $200,000s, the 37-year-old Tampa, Florida, mother of two isn’t worried about defaulting as she restarts payments.

“We are blessed to be in a situation where we can afford the payment, but it definitely changes our overall financial plans,” she says.

After graduating law school in 2013 with about $120,000 in federal loans, her first job paid just $41,000. A misunderstanding over recertifying her income caused interest to capitalize early during repayment, resulting in a larger principal and higher interest payments. Despite paying over $40,000 toward her loans, her balance has now risen above $200,000, which she calls “disheartening.”

After evaluating her options, Katherine chose to shift her loan balance to the PAYE plan. After payments of between $300 and $500 in SAVE, she’ll now pay a little over $1,500 a month. That figure is similar to what her family also pays on their mortgage and for childcare for each of their kids. Her husband also has student loans, which he is paying off under the standard 10-year plan.

But perhaps a larger concern for Katherine is that could hit when she gets her student loans forgiven in roughly a decade. Federal student loan balances can be forgiven after a borrower has made a certain number of payments in an income-driven repayment plan — typically 20 to 25 years’ worth. It’s a huge relief for many, but the IRS treats that canceled balance as income. For Katherine’s family, an extra $200,000 of taxable income at their tax bracket could result in a one-year tax bill totaling tens of thousands of dollars.

For now, she says her family has been adjusting their spending and cutting back or delaying certain activities, particularly vacations. She’d planned to take her oldest son to Disney World earlier this year but scrapped that trip due to cost. She’d also hoped to take her kids to see their 96-year-old grandmother more often, but “we just can’t swing it.”

“Anything that’s going to be more than a grand for a trip, that’s probably not going to happen,” she says.

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Rent or Student Loans? Californian Fears Homelessness

There’s no question in Nadia’s mind as to whether she would default on her student loans if her monthly payment triples, as estimates show it might when she enrolls in a new plan.

“I know for sure I would,” says the late-20s Californian, who makes between $60,000 and $70,000 as an advisor to politicians across the state.

While her salary would fall around the median range in many areas of the U.S., she says it doesn’t go far in her part of California. In fact, it qualifies her for low-income housing, which she lives in.

I shouldn’t have to worry about eating versus housing versus student loans.

Nadia has about $25,000 in student loans that she took out for undergrad, where she graduated in 2019 with a double major in English and political science. She says her payment on SAVE was between $75 and $100, while her new payments are projected to be at least $300.

She says there isn’t much wiggle room in her budget. She commutes on public transportation and largely limits her spending to necessities. A fan of live music, she’s been turning down friends’ invitations to attend concerts lately to prepare for loan payments. She occasionally skips meals to save money.

“I know this sounds kind of sad, but I feel like I can only eat once a day now because I’m just so worried,” she says. “I shouldn’t have to worry about eating versus housing versus student loans.”

Nadia’s credit score impacts her eligibility for housing. She fears that if she chooses to pay rent over keeping up with student loans, she’ll eventually default and damage her credit score, which in turn could affect housing.

While many SAVE borrowers haven’t made payments in the past two years, Nadia has been paying interest since it began accruing again last August. That has allowed her to maintain roughly the same balance as when she graduated.

“Even though I’ve made payments, I’ve still made a very small dent in the loans,” she says.

‘Rage-Inducing’: Las Vegas Freelancer Has Watched Debt Double

Bryan is bracing for an estimated $380 in monthly student loan payments at a time when he can least afford it. The 43-year-old Las Vegas-based human resources consultant says he and his wife have been slashing expenses ever since she was laid off from her job over a year ago.

“We started cutting back months ago in preparation, and it may not be enough,” Bryan says. “That’s the part that’s really scary, because there’s no safety net in this country.”

He graduated from law school almost 20 years ago with about $200,000 in loans, and has watched his balance nearly double despite making payments on income-driven plans. Because of the freelance nature of his business, his income can fluctuate considerably from month to month, although he says he might bring in a little over $100,000 in a typical year. The climbing balance combined with the drop in income as his wife searches for work is frustrating for them.

I appreciated the Biden administration’s push and effort, but I ultimately don’t think it was the right approach because of what we’re in now.

“Less coming in and a debt that keeps growing is rage-inducing,” he says, noting that he believes he’s come close to paying the entire initial balance by this point. He’s only about five or six years away from loan forgiveness, although he’ll likely face a high tax bill when that happens.

Bryan and his wife have trimmed spending in numerous areas, from canceling streaming services to reevaluating healthcare options. They’ve also reduced their entertainment budget.

“We don’t eat out as much anymore,” he says. “We don’t take as many trips. We don’t go to the casinos as much — not that we did that a ton, but it’s something unique about living here.”

While he doesn’t have time outside of his business to take on a side gig, his wife has found ways to bring in extra money, including working a poll station during the recent Nevada primary.

Bryan says the increases that many borrowers are now facing simply add to the high cost of housing and groceries, further cementing a general feeling of unaffordability.

“I did everything I was told to do, yet the rules and costs keep changing underneath me,” he says. “When corporations are underwater, it’s a bailout. But when it’s an individual? Personal responsibility, get another job, find your bootstraps.”

He says that when the SAVE plan was first introduced, he feared that the pendulum would swing back when a new administration took office.

“I appreciated the Biden administration’s push and effort,” Bryan says. “But I ultimately don’t think it was the right approach because of what we’re in now.”

Juggling Vet Bills and Student Loans: Minnesotan Hopes 3 Jobs Are Enough

Libby says her last day off was New Year’s Day. The 38-year-old, who lives with her husband outside Minneapolis, supplements her 9-to-5 position as a Power Platform developer with side jobs as a dog behavior consultant and dog walker.

Animals play a major role in her life. Not long ago, she had six dogs and cats, although three have recently died due to old age.

“We have nice things,” Libby says, explaining how she tries to take a glass-half-full view of life as she prepares for her student loan payments to nearly double to $1,000 monthly. “And by that I mean dogs.”

She says she brings in around $105,000 a year, which she’s hoping will be enough to maintain payments on the roughly $85,000 in student loan debt she’s accumulated to earn three degrees. After graduating with a marketing degree at the height of the financial crisis, she immediately entered an MBA program, postponing a job search that appeared fruitless at that time. But her prospects hadn’t brightened much after the graduate degree, so she returned for two more years to get a wildlife biology degree.

There are a lot of people who are getting hit a lot harder. And I’m going to try not to cry, but that’s what breaks my heart.

Although she briefly considered switching to a standard repayment plan to get the debt paid off sooner, she has now settled on seeking loan forgiveness under an income-driven repayment plan.

“I will perpetually pay just enough that I don’t have the government coming after me,” Libby says.

She’ll need to find a way to fit her student loan bill into a budget that includes a $1,800 monthly mortgage payment and veterinary costs that at times can be eye-popping. She estimates that she spent nearly $50,000 over a six-month period on care for one of her dogs.

Worries about student loans have caused Libby and her husband to ponder drastic measures to trim payments.

Last year, amid reports that the Trump administration may go back to considering a spouse’s income when determining loan payment amounts for those who are married filing separately, the happily married couple actually discussed whether they should get divorced if it would keep their payments down. Her mom cried when they pitched the possibility.

“I think some people thought I was joking, but I was not,” she says, adding that the couple would have continued to live together. “Which is kind of sad.”

But Libby says her biggest concerns surrounding the end of SAVE is that many other people aren’t as prepared as she is for the higher payments.

“If you’re worried about if you have a roof over your head or if you can pay your bills and what you’re going to eat, you can’t always show up to work as the best form of yourself,” she says. “I think that’s a hurdle that a lot of people are going to start experiencing, and that could potentially be a barrier to them earning more.

“There are a lot of people who are getting hit a lot harder. And I’m going to try not to cry, but that’s what breaks my heart.”

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That said, it wasn’t exactly a banner quarter for Duquesne, with 13F assets shrinking about 22% in value compared with the prior quarter. However, the overall portfolio expanded by roughly $300 million compared to Q1 2025, and several of the top holdings outperformed in Q1 2026.

Let’s get to the numbers first. The Duquesne portfolio held 68 positions valued at approximately $3.4 billion, and it was top-heavy, with the top five holdings accounting for 38% of the entire portfolio. Never predictable, Druckenmiller’s team added 31 new positions while selling out of 23, once again favoring the active-rotation investment philosophy its leader has embraced over the past 40 years.

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Druckenmiller, also founder and former chairman of Duquesne Capital and previously a portfolio manager for George Soros’ Quantum Fund from 1988 to 2000, has long embraced a big-picture investment philosophy that caters to his unique set of trading skills. This has earned him a reputation as one of the best stock pickers in modern history.

“Druckenmiller does not diversify, and his strategy is conviction-led and concentration-heavy,” says Alex Liberfield, managing partner at Liberfield Capital, an alternative investments advisory firm. “Stability is not necessarily something he is chasing; this is a portfolio that rapidly changes, sizes aggressively and does not shy away from focusing on a relatively small number of views.”

Liberfield says Duquesne made a meaningful reduction in domestic exposure, which is down 25% for the quarter. Another interesting adjustment is Druckenmiller’s sector rotation in Q1.

“Exiting financial ETFs and Alphabet, and cutting Coupang, Teva, Woodward and Wabtec heavily, is intriguing,” Liberfield says. Duquesne added to Natera Inc. (ticker: ), YPF Sociedad An贸nima (), STMicroelectronics NV () and several healthcare and materials names. “The portfolio now has a clearer mix of concentrated healthcare growth, , and cyclical or resource-linked positions,” Liberfield adds.

Taken together, Duquesne’s Q1 moves don’t deviate from Druckenmiller’s traditional approach of macro expressions, rapid rotation and significant single-name bets. “The notable change theme for me is the reduction of broad U.S. growth exposure and financial exposure,” Liberfield notes. “Significant quarterly changes are very on-brand for Druckenmiller because he precisely treats this flexibility as a key element of risk management and doesn’t shy away from rapidly pivoting when facts or opportunities change.”

With the Duquesne portfolio on the move, let’s take a closer look at what a master stock trader was thinking in the first part of 2026, focusing on his top holdings. Remember, imitating Druckenmiller’s moves now would be several months behind his initial trading decision, as the record ends March 31; however, combined with further stock research you may find some useful indicators here to help you with investment selection.

This list excludes call options for iShares MSCI Brazil ETF (), which Duquesne held steady, and $157.6 million worth of call options for Invesco S&P 500 Equal Weight ETF (), a swap with sold-off common shares of RSP:

Natera Inc. ()

Druckenmiller beefed up his team’s Natera position by 552,249 shares in the first quarter, bringing the holding close to $613 million. That’s up significantly from $481 million a year ago and makes NTRA by far the largest position in the portfolio, at 18%.

Natera has been a solid performer for Druckenmiller, adding 18.9% to its stock value in 2026 while returning 62.1% over the past year. Analysts are lining up to back the stock, with BTIG’s Mark Massaro just reiterating his “buy” call with a $275 price target. The stock is currently trading around $270 per share, after Natera got a big boost from Japan’s Pharmaceuticals and Medical Devices Agency’s approval of its Signatera molecular residual disease (MRD) test for patients with colorectal cancer last week.

“The standout takeaway from the latest 13F is undeniably his massive bet on Natera,” says Kai Sato, founder of Kaizen Reserve, which advises family offices on micro-cap strategies, and managing partner at Mauloa. “True to his philosophy, this high-conviction play is already being heavily vindicated.”

The stock recently surged over 7% following the regulatory milestone in Japan. “With Japan seeing over 150,000 new cases (of colorectal cancer) annually, this opens up a highly lucrative market for late 2026 and proves Druckenmiller’s aggressive foresight is paying off perfectly,” Sato says.

Percentage of portfolio: 18.1% Market value of shares: $612.7 million

Insmed Inc. ()

Druckenmiller shed 327,662 shares of Insmed, a Bridgewater, New Jersey, global that specializes in the development and commercialization of therapies for patients with rare diseases. However, the stock remains the second-largest position in the portfolio at 5.6%.

Trading at $107 as of June 30, INSM has seen its share price slide by an alarming 40% in 2026, with analysts citing souring investor sentiment on the company. Mizuho lowered its INSM price target from $202 to $192 last week after the stock price fell by nearly 30% since Insmed’s Q1 earnings report.

Meanwhile, TD Cowen analyst Ritu Baral issued a “buy” call on the stock in mid-June, citing solid upside in INSM’s risk?reward profile and pointing to the company’s robust long?term growth prospects. Baral pinned a $243 12-month price target on INSM shares.

Percentage of portfolio: 5.6% Market value of shares: $188.7 million

Taiwan Semiconductor Manufacturing Co. Ltd. ()

Druckenmiller has also taken a bite out of his position in this chip giant, reducing it by 47,805 shares in Q1. This appears to be a rebalancing move, as the stock remains the third-biggest position in the portfolio, comprising 5% of assets with a $167.4 million value.

TSM appears to be a stellar choice by the Duquesne team, with the stock price up 50% so far in 2026. Investors have largely batted away concerns over the Trump administration’s drumbeat of criticism of international chip companies, as well as the U.S. government’s direct investment in Intel Corp. ().

“This is not a secular decline for TSM; it’s the beginning of a healthy dual-sourcing dynamic driven by geopolitical necessity,” Luke Lango, publisher of Innovation Investor, said in a recent research note. “I’m bullish on both. Intel is the high-beta national champion trade; TSM remains the indispensable backbone of the entire AI supply chain. You don’t sell your picks and shovels because someone just opened a second mine.”

Liberfield agrees, noting that Druckenmiller “is someone who, smartly in my opinion, is transitioning away from the overpriced U.S. markets and looking for more opportunities internationally.”

Percentage of portfolio: 5% Market value of shares: $167.4 million

YPF Sociedad An贸nima ()

Duquesne also spread its wings in South America in Q1, adding 2.63 million shares of YPF Sociedad An贸nima, an Argentina-based integrated oil-and-gas company. YPF now accounts for 4.4% of the Druckenmiller portfolio, a $149.6 million market value.

Market watchers point out that YPF is a good example of Druckenmiller’s approach, which stands out for its tactical flexibility. “He’s known for nimble sector rotation and for sizing up positions aggressively when conviction is high,” says Daniel Park, a former Bloomberg analyst and current markets editor at NYC Business Pulse. “In the current environment, his portfolio appears to reflect a barbell strategy: a blend of high-growth tech alongside defensive plays, which is consistent with his historical aversion to concentrated risk in one sector or macro theme.”

Trading at $46 or so, YPF Sociedad An贸nima shares are up 26% year to date and 37% over the past year.

Percentage of portfolio: 4.4% Market value of shares: $149.6 million

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iShares MSCI Brazil ETF ()

Druckenmiller sliced 116,405 shares from his regular holding of exchange-traded fund EWZ in the first quarter, rebalancing its position in the portfolio to 3.9%, with a market value of $131.9 million.

Duquesne initially bought into the iShares MSCI Brazil ETF in Q1 2022 and, over the ensuing four years, the Druckenmiller team has actively managed the position by trimming and adding at regular intervals. He made a big move in the fourth quarter of 2025 by adding over 3.5 million EWZ shares and call options to the portfolio, and he followed up with some slight pruning in Q1 2026.

The fund has a 9.8% total return so far in 2026, and is up 28.4% over the past year.

Percentage of portfolio: 3.9% Market value of shares: $131.9 million

BBB Foods Inc. ()

Duquesne also increased its stake in Mexico City-based BBB Foods, buying 434,050 shares of TBBB stock in Q1, adding more than a percentage point to its overall holding. The move translates into a 3.3% portfolio component with a market value of $110 million.

The stock has been a for Druckenmiller, adding 24.4% year to date and 51.2% over the past year. TBBB’s Q1 performance was stellar, with revenues rising 33% year over year to 23 billion pesos ($1.3 billion), and same-store sales up 16%, with about 65% of that figure stemming from more robust transaction volumes. In a tough economy, that commitment to customer loyalty (and vice versa) is a sign that BBB Foods knows what it’s doing. That’s a common trait among Druckenmiller’s picks.

Percentage of portfolio: 3.3% Market value of shares: $110 million

Alcoa Corp. ()

Druckenmiller added 117,340 shares of Alcoa stock in the first quarter of 2026, beefing up the position of this Pittsburgh-based bauxite mining, alumina refining, and aluminum smelting and casting company. The Duquesne portfolio now holds a 2.9% position in AA, valued at $99.1 million.

While Druckenmiller is taking big steps to diversify his portfolio into , technology and overseas holdings, Alcoa, a U.S. manufacturing staple, shows that keeping several bedrock American companies in the Duquesne lineup remains a priority. AA shares are generally trading flat in 2026 (up 1% as of the June 29 market close); however, the stock is up 89% over the past 12 months. The recent slide is due in part to aluminum and other commodities re-pricing after U.S.-Iran tensions began to ease, though passage through the Strait of Hormuz is still in limbo.

But historically, Druckenmiller has favored stable companies with a solid track record and a robust balance sheet, and Alcoa fits the bill. Analysts agree, as a consensus “buy” call on AA shares comes with a $77 price target, indicating a 45% potential upside to the stock’s value. It currently trades around $53 per share.

Percentage of portfolio: 2.9% Market value of shares: $99.1 million

Takeaways From Druckenmiller’s Updated Portfolio

As you’ve seen from this review of its top holdings, several shifts stand out in the Druckenmiller portfolio after the first quarter of 2026, including moves toward international opportunities and away from broad domestic growth and financials. Also notable is the overall portfolio’s recent tilt toward AI and cloud-based companies, signaling both a belief in secular tech trends and a hedge against broader market volatility.

“For investors and institutions, Druckenmiller’s moves are closely watched as a bellwether for risk appetite, particularly in uncertain macro cycles,” Park says. “His portfolio shifts often preempt broader hedge fund positioning, making them a useful lens for anticipating near-term flows in both equities and related asset classes.”

Sato notes that while Druckenmiller shares a love for highly concentrated bets with Warren Buffett, he’s admittedly a far more active trader. “Druckenmiller is famously prone to making dramatic portfolio adjustments the moment his thesis changes or the macro environment shifts,” Sato says. “The heavy rotations and sizable additions we see in this update are a hallmark of his highly responsive, aggressive strategy.”

Sato adds, “There isn’t a deviation so much as a classic execution of his uniquely agile style.”

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Every few years, the agency publishes a list of minerals considered essential to the nation’s economic prosperity and national security that face meaningful supply chain risks.

A mineral generally earns “critical” status when it satisfies two conditions. First, it must play an essential role in industries that underpin the economy or national defense. Second, the U.S. must have meaningful import dependence or face elevated risks of supply disruption.

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The U.S. Geological Survey’s 2025 critical minerals list contains 60 minerals and adds 10 new entries, including boron, coal, copper, lead, phosphate, potash, rhenium, silicon, uranium and silver. Silver’s inclusion may surprise some investors, who primarily associate the metal with jewelry or bullion. In reality, silver has become one of the most widely used industrial metals in the global economy.

According to the Silver Institute, silver is used in everything from photovoltaic cells for solar panels, membrane switches found in buttons on electronics, silver-oxide batteries valued for their high energy-to-weight ratio, conductive inks used in radio-frequency identification tags, and industrial catalysts in the production of chemicals used to manufacture plastics, adhesives and textiles.

Not every country has reached the same conclusion, though. For example, Canada’s Department of Natural Resources maintains its own list of 34 critical minerals, but silver is not included.

The department has argued that global silver supplies are sufficiently robust that shortages are unlikely to threaten Canada’s economy. That assessment may partly reflect Canada’s position as home to many of the world’s largest silver mining companies. Whether other countries revisit their classifications as industrial demand grows and supply chains become increasingly strategic remains an open question.

For investors, silver sits at the intersection of industrial production, clean energy, and resource security, creating a unique investment case that differs from other precious metals.

Here are seven of the best silver exchange-traded funds, or ETFs, to buy in 2026:

iShares Silver Trust ()

“Physically backed silver ETFs offer three significant advantages over other types of silver investments: transparency, liquidity and convenience,” says Sean August, CEO of the August Wealth Management Group. “These ETFs regularly disclose the amount of silver held, are easily traded on major exchanges and grant exposure to silver prices without the need to store and insure bullion.”

SLV is currently the largest U.S.-listed silver ETF, with $28 billion in assets under management, or AUM. That currently corresponds to physical ownership of about 480 million ounces of silver bullion held in trust. The ETF charges a 0.5% expense ratio and also trades with excellent liquidity thanks to a low 30-day median bid-ask spread of just 0.02%.

abrdn Physical Silver Shares ETF ()

“I really like silver ETFs over other ways to hold silver,” says Anessa Custovic, chief investment officer at Cardinal Retirement Planning. “You get the diversification benefits of holding silver without the headache of trying to purchase and store bullion.” Investors looking for lower fees may find SIVR more appealing than SLV. This ETF is significantly more affordable with a 0.3% expense ratio.

SIVR is smaller than SLV with $3.8 billion in AUM, but still sizable in its own right. The ETF’s silver bullion deposits are held by ICBC Standard Bank in the U.K., with the Bank of New York Mellon acting as trustee. On SIVR’s webpage, investors can find documents such as vault inspection letters and even a list of bars with serial numbers, which helps improve transparency and security.

Global X Silver Miners ETF ()

“ can offer indirect exposure to silver prices and tend to be leveraged plays on silver prices, owing to the fixed costs of extracting the metal,” explains Roberta Caselli, commodities investment strategist at Global X ETFs. “Unlike investing directly in silver, miners can expand production as profit margins grow, which can benefit their share prices.” This makes miners more volatile than silver.

Investors can see this dynamic in play with SIL. During the 2025 silver bull market, SIL returned 166.3%, while SLV lagged at 144.7%. However, the operating leverage exhibited by miners can be a double-edged sword if silver prices hit a bear market. Unlike spot silver, silver miners can also pay modest dividends, although SIL currently lacks distributions because of the drag from a higher 0.65% expense ratio.

Amplify Junior Silver Miners ETF ()

“Silver’s 2025 rally was driven by tight physical supply, strong industrial demand and a more supportive macro environment,” says Nathan Miller, vice president of product development at Amplify ETFs. “That backdrop can favor junior silver miners, which tend to exhibit higher operating leverage as prices rise.” In 2025, SILJ strongly outperformed both SIL and SLV with a 184.4% total return.

“SILJ provides diversified exposure to smaller silver producers and developers, offering a higher-beta way to express a bullish silver view,” Miller explains. “The trade-off is increased volatility, but sustained higher silver prices could disproportionately benefit junior miners.” However, investors preferring SILJ should be comfortable with greater exposure to small-cap stocks and a higher 0.69% expense ratio.

Amplify SILJ Junior Silver Miners Covered Call ETF ()

“SLJY is designed for investors who are constructive on silver but want a more income-oriented approach,” Miller explains. “By incorporating a covered-call strategy, the fund seeks to generate income while maintaining exposure to junior silver miners.” This ETF sells out-of-the-money covered calls on SILJ with the goal of targeting an 18% annualized yield. SLJY charges a 0.76% expense ratio.

“The options overlay adds an income stream that is potentially less correlated to traditional income sources like fixed-income and , helping position SLJY as a complementary allocation within a broader portfolio,” Miller says. However, prospective investors should understand that in a silver bull market, SLJY may lag SILJ and SLV as the covered calls cap upside appreciation.

Sprott Silver Miners & Physical Silver ETF ()

Unlike most silver ETFs, SLVR blends two forms of exposure in a single fund. Most of the portfolio is invested in silver mining companies through the Nasdaq Sprott Silver Miners Index, while a dedicated allocation to the Sprott Physical Silver Trust (PSLV) provides direct exposure to spot silver prices. The ETF charges a 0.65% expense ratio and currently manages around $650 million in AUM.

Unlike an ETF, PSLV is actually a closed-end fund, meaning it has a fixed pool of shares that can trade above or below its net asset value, or NAV. Investors buying PSLV directly should therefore monitor whether the fund is trading at a premium or discount to NAV. Investors should also note that SLVR has historically struggled somewhat with liquidity due to a higher 0.49% 30-day median bid-ask spread.

Themes Silver Miners ETF ()

Investors focused on minimizing fees may find AGMI appealing. The fund tracks the STOXX Global Silver Miners Index and charges a 0.35% expense ratio. This is equivalent to about $35 annually in fee drag on a $10,000 investment versus $65 for comparable funds such as SIL. Over long holding periods, that difference in fee drag can potentially compound into meaningful savings.

The trade-off is that AGMI remains a relatively small fund with just $11.6 million in AUM, well below the roughly $50 million threshold often viewed as reducing closure risk. It also carries a relatively wide 0.86% 30-day median bid-ask spread, meaning investors could give up more in trading costs when buying or selling. However, AGMI may still be useful as a tax-loss harvesting pair for the previous silver ETFs.

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Ranging from copper used in construction and automobiles to natural gas that powers a host of industries — including the emerging — commodities can also offer a hedge against inflation.

For example, the Iran war has helped push up oil prices while at the same time benefiting . If inflation is caused by a strong economy, that generally correlates with solid demand for raw materials produced by commodities companies.

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“Recent developments in the economy, particularly regarding inflation, have caused many investors to focus on commodities as a hedge against the inherent economic risk,” says Angelo DeCandia, professor of business at Touro University.

Some do this through the futures market, but those derivatives contracts aren’t set-and-forget investments because they often must be constantly rolled over into fresh contracts. They also require the use of leverage, which can magnify gains and losses.

“As a result, they are not suitable for all investors, and that is where commodity stocks come into play,” DeCandia says. “They provide the opportunity to hedge in the more familiar equity markets and provide the same advantages without the complexity of futures trading.”

A risk to using commodities as an inflation hedge is that central banks might raise interest rates to attempt to keep inflation under control. Higher interest rates increase the cost of borrowing required for long-term, expensive development of commodities projects that won’t pay off for many years.

Another risk is that rising input costs also make developing and running commodities projects more expensive.

“Investors should always be aware that companies producing commodity products are not in complete control of their costs,” DeCandia says. “The cost of inputs is subject to the commodity markets, which are themselves affected by everything from geopolitical events to basic supply and demand.”

This risk is one of the reasons commodities stocks that pay dividends are so popular.

“Beyond the benefits of inflation hedging provided by commodity stocks, there is also the possible opportunity to create an income stream which will help to further mitigate the downside of rising commodity prices,” DeCandia says.

There is a wide variety of commodities and companies that produce them, with each market having its own supply and demand nuances. Here’s a look at seven commodities companies on that spectrum that pay solid dividends:

Flex LNG Ltd. ()

, is a growing market, especially with exports from the U.S. Because of fracking and horizontal drilling, the U.S. is the biggest natural gas producer and a powerhouse exporter.

Because gas can be produced cheaply in the U.S., it is economical to build massive liquefaction plants to chill the fuel and then ship it to destinations around the world, such as Europe and Asia.

Flex employs a fleet of 13 carriers to ship natural gas in super-chilled liquefied form to end users.

“It is a very attractive play for those investors willing to take larger pricing risks in order to receive bigger rewards,” DeCandia says. Nonetheless, the risks are reasonable and probably a lot lower than a straight bet on the futures markets.

Flex is less directly affected by commodity prices than natural gas producers since its primary business is to provide seaborne transportation of LNG worldwide, DeCandia says.

“Its performance is somewhat buffered by the fact that it provides a service to the commodity industry, rather than being directly involved in the production of a commodity,” he says. “This should provide some comfort to investors concerned about the extreme volatility of the commodity markets.”

The company has a dividend yield of more than 10%.

Canadian Natural Resources Ltd. ()

This oil and producer has operations in western Canada’s oil sands area, the U.K. portion of the North Sea and offshore Africa.

The stock is yielding more than 4%, has a relatively low price-to-earnings (P/E) ratio of 12 and is roughly in the middle of its 52-week high and low range.

“In addition to these very attractive numbers, this company is well established and very diversified, with activities (spanning) the acquisition, exploration and development of crude oil and natural gas,” DeCandia says. “Savvy investors should seek comfort in this company, which delivers strong returns without a lot of risk.”

Cenovus Energy Inc. ()

This energy company’s portfolio includes oil sands and conventional crude oil projects in Canada as well as natural gas production offshore China and Indonesia. It also has refining and marketing operations in Canada and the U.S.

CVE is also between its 52-week high and low, which means it has the opportunity to move higher without breaking into record territory. Cenovus also has a relatively modest P/E ratio of 14, providing investors with another bit of peace of mind.

“Cenovus Energy provides good opportunity at a reasonable entry level for those investors seeking to create a dividend income stream at a reasonable price,” DeCandia says. “The dividend yield is a respectable 2.5%, thus providing investors with the inflationary buffer which they seek.”

Enbridge Inc. ()

This company transports and distributes oil, natural gas and natural gas liquids through a network of pipelines. Its dividend has proven durable, and the company is known for reliable cash flow.

In addition to its pipeline network, the company has a presence in gas utilities and storage and is advancing projects, including renewable natural gas, carbon capture and storage, and hydrogen.

Enbridge’s stability is underpinned by long-term contracts that include inflation protection and revenues that are largely insulated from commodity volatility.

Rio Tinto Group ()

Turning to , this diversified global player offers a payout of 4.3%.

Rio Tinto produces aluminum, copper and iron ore and is developing a project. Copper demand is expected to increase because it is needed to build renewable energy installations and connect them to electric grids. Copper and lithium are key materials for electric vehicles.

These projects position the company for growth in the renewable energy sector as well as the more traditional iron ore business that feeds the global steel industry.

BHP Group Ltd. ()

This global mining giant offers a similar investing case to Rio Tinto.

Amid the global energy transition away from fossil fuels for electricity production, BHP has been exiting thermal coal, which is used to generate electricity and is a major source of planet-warming gas.

BHP has been investing more in , as well as in mining potash, a key fertilizer ingredient that will become even more important as the global population continues to grow.

Like its competitor Rio Tinto, BHP is known for capital discipline, including not overextending itself to pay its dividend. While that may not always make for the biggest payout, it can help with the durability of yield.

AngloGold Ashanti PLC ()

This mining company is and extracts silver as a byproduct. It has mining operations in 10 countries on four continents, giving it enviable jurisdictional diversification.

“After a strong 2025, the shares are down … this year amid softer gold prices, offering an attractive entry point with solid potential for both capital appreciation and income from the dividend,” says Vince Stanzione, CEO of First Information, a publisher of educational materials related to financial spread betting and derivatives trading.

He notes that the company’s all-in sustaining cost, an important gold mining industry metric, is under $2,000 per ounce. So, even though gold prices have pulled back from record highs, its current price around $4,000 gives AngloGold plenty of margin.

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Before you sign up, though, you should explore the ins and outs of Medicare to ensure you’re finding the best plan for your needs while also avoiding unexpected . Even if you’ve been on Medicare for years, you should reevaluate your options annually to confirm that your plan is still the right choice for you.

In this guide, we outline everything you need to know about what Medicare is, how it works and .

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What Is Medicare?

Medicare is a federal health insurance program primarily for those age 65 and older. Medicare also covers those under age 65 with certain and conditions, such as or amyotrophic lateral sclerosis (also known as ALS or Lou Gehrig’s disease).

Medicare Plans and Coverage

There is a veritable alphabet soup of Medicare :

— covers inpatient , skilled nursing and stays and some .

— covers visits to the doctor, preventive care, outpatient care, and some home health care.

— covers prescription drugs.

Together, Part A and Part B make up “original” or “traditional” Medicare.

How much does original Medicare cost?

How much you pay for each of these parts often changes from year to year.

Original Medicare also does not provide a cap on out-of-pocket expenses for hospital or outpatient services (though the Part D cap mentioned below still applies if you’re enrolled in that plan).

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Medicare Advantage Plans

While Medicare parts A, B and D comprise the traditional framework, there’s an additional letter in the Medicare alphabet soup: Medicare Part C, also known as .

What is Medicare Advantage?

Medicare Advantage comprises health plans offered by private companies that contract with Medicare to provide you with all of your Part A and Part B benefits. Most plans also offer Part D drug coverage.

How much does Medicare Advantage cost?

What you pay for a Medicare Advantage plan often varies by region and the specific plan.

“Medicare Advantage plans can have low or no monthly premiums, but they usually require members to get their care only from network doctors and hospitals,” says Meredith Ramsey, an independent insurance agent in New Orleans. “Both options (original Medicare and Medicare Advantage) may have deductibles, copays and coinsurance, where you pay a percentage of the bill.”

For 2026, Medicare Advantage costs typically include:

— Monthly plan premium: About $14 per month in 2026, according to the Centers for Medicare & Medicaid Services (CMS). However, Medicare Advantage members must still pay their Part B premium.

— Maximum out-of-pocket limit: Up to $9,250 for in-network services

— Prescription drug cap: A separate $2,100 maximum out-of-pocket limit applied toward drug costs

What does Medicare Advantage cover?

Medicare Advantage plans provide the same coverage as original Medicare, as well as — referred to as Medicare allowances — such as:

—

—

—

— Wellness coverage, such as

— Over-the-counter drug coverage not provided in Part D

Plans can vary, though, so you’ll need to read the fine print to make sure your needs are covered.

What does Medicare Advantage not cover?

Medicare Advantage plans may have for covering medical care needed outside of the U.S. Make sure to review this benefit thoroughly before enrolling.

How to sign up for Medicare Advantage

You can plan in several ways:

—

— Partnering with an individual, licensed insurance , who can enroll you via a paper or electronic application

— Applying online at Medicare.gov

— Calling 1-800-MEDICARE (1-800-633-4227)

— Applying through a private insurer’s website (make sure to look for Medicare Advantage-specific plans)

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Medicare Supplement (Medigap) Plans

If you’re opting for original Medicare but may need additional financial assistance to pay for out-of-pocket costs, you might consider a .

What is a Medicare supplement plan?

A Medicare supplement plan, also known as , is for people who have original Medicare but need another plan to help cover remaining costs associated with services received.

“You can go through your life with just parts A and B, but the out-of-pocket costs will get you,” notes Diane J. Omdahl, founder of 65 Incorporated, a Wisconsin-based company that helps people choose Medicare coverage.

Depending on where you live and when you’re eligible for Medicare, multiple types of Medigap policies, such as , are offered by private insurers or via groups such as AARP.

How much does Medigap cost?

Medigap vary considerably depending on pricing models and other factors, but each plan — regardless of the company you buy it from — must offer the same services. In other words, Plan A at Company 1 will have the same coverage as Plan A at Company 2.

What does Medigap cover?

Medigap helps cover original Medicare-related costs, including:

— Deductibles

— Copayments

— Coinsurance

What does Medigap not cover?

Medigap doesn’t cover:

— Vision care and glasses

— Dental care

— Hearing aids

— Private nursing

— Long-term care, such as a

— Custodial care

How to sign up for Medigap

Before signing up for Medigap, make sure to do your research. The cost of Medigap plans can vary by state. Resources to help you include:

— Trusted sites, such as , Medicare.gov and

— Licensed brokers or agents who offer Medigap plans

— Counselors with

— Medicare supplement websites, where you can search for plans by ZIP code

Once you’ve settled on a plan, you can fill out an application. Following approval, you should review the policy to make sure it’s still the right fit.

Medicare Eligibility and Enrollment Dates

Regardless of your age, and if you qualify, you become eligible for Medicare when you turn 65. Once you’ve reached eligibility, there are multiple windows when you can enroll in Medicare.

Medicare initial enrollment

You can first sign up for Medicare or Medicare Advantage three months before your 65th birthday, during your birth month or throughout the three months after. During this window, known as the initial enrollment period, you can also enroll in a Medigap plan if you’ve also enrolled in Medicare Part B. (You can also sign up for Medigap after this period, but prices could be higher or your application could be denied due to major health issues you may have.) You have 60 days to sign up for a Medicare after this period.

You may face a long-term penalty if you don’t sign up during this seven-month window, even if you’re .

If you receive benefits from Social Security or the Railroad Retirement Board four months before your 65th birthday, you will be automatically enrolled in Medicare.

Medicare open enrollment

For those who aren’t enrolling for the first time, the , also known as the annual election period, runs from October 15 through December 7. During this period, you can:

— Review, adjust or switch your Medicare plan, including Medicare Part D or Medicare Advantage plans

— Enroll in a Medicare Advantage plan

— Drop a Medicare Advantage plan to return to original Medicare

Medicare Advantage open enrollment

Another open enrollment period, known as the , runs from January 1 through March 31. This period is for those already enrolled in a Medicare Advantage plan who want to switch to another Medicare Advantage plan or go back to original Medicare.

Medicare general enrollment

The general enrollment period, which lasts from January 1 through March 31, is for those who need to but missed the initial enrollment window and don’t qualify for special enrollment. Your coverage starts the month after you sign up. You might pay a monthly if you don’t qualify for a special enrollment period.

Medicare special enrollment

If you need to enroll or adjust your coverage outside of the regular enrollment windows, you may qualify for a special enrollment period. Some example situations include:

— You lost coverage after January 1.

— You couldn’t enroll because of a natural disaster or an emergency that’s declared or starts on or after January 1.

— You’re volunteering and serving in another country.

— You were recently incarcerated and couldn’t sign up during your incarceration.

Depending on your situation, you may have up to six months to enroll in Medicare. If you don’t sign up within that window, you’ll have to wait for the general enrollment period and possibly pay a late enrollment penalty.

Medicare Savings Programs for Low-Income Seniors

Americans with very low incomes may be eligible for extra help with Medicare premiums and health care costs. The four primary are:

— The Qualified Medicare Beneficiary Program, which helps pay for premiums, deductibles, coinsurance, copayments and prescription drugs.

— The Specified Low-Income Medicare Beneficiary Program, which helps pay for Medicare Part B premiums and prescription drugs.

— The Qualifying Individual Program, which helps pay for Medicare Part B premiums.

— The Qualified Disabled Working Individual Program, which helps to pay Part A premiums only for those who have a disability, are working and lost their $0 premium Part A coverage because they chose to return to work.

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“The data we’re seeing on GLP-1s and cancer risk reduction is exciting, and are watching it closely,” says Dr. Rahul Gosain, an oncologist and co-host of The Oncology Brothers.

highlight a promising trend, linking GLP-1 use to a reduced overall risk of cancer, including:

— Endometrial and

—

— Meningioma, a type of

—

—

Most notably, one landmark study of more than 110,000 women between the ages of 45 and 80 found that those taking GLP-1 medications had 30% to 35% lower than women who weren’t taking the drugs.

Here’s what researchers know so far, why these medications may influence cancer risk and what questions remain.

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Indirect Benefits of GLP-1 Use and Cancer Prevention

While GLP-1s aren’t traditional cancer treatments, they may influence cancer risk by tackling the root metabolic factors that allow cancer to thrive.

“GLP-1s may be part of a broader shift in how we think about cancer prevention,” says Dr. Monique Gary, a breast surgical oncologist and chief medical officer of Bexa. “We are increasingly recognizing that cancer risk is not only about genetics or . It’s also shaped by , , hormones, and the environments our cells live in every day.”

Many experts believe their greatest potential cancer-related benefit comes from improving the underlying metabolic conditions known to drive the risk of various obesity-related cancers.

“ is a known risk factor for at least 13 cancers, so any treatment that lowers body weight and adipose tissue is likely to reduce cancer risk,” says Marian L. Neuhouser, a nutritional epidemiologist, professor and head of the Cancer Prevention Program at the Fred Hutch Cancer Center.

Here is how these medications interrupt those pathways:

— Promoting : By helping people shed pounds and reduce body fat, GLP-1s directly lower the risk of these weight-related cancers.

— Calming chronic inflammation: Carrying extra body fat does more than just store energy — it acts like an active hormone factory, pumping out inflammatory chemicals that create a breeding ground for cancer cells. GLP-1s help quiet this harmful, long-term inflammation.

— Lowering postmenopausal estrogen: After , body fat becomes the body’s primary source of estrogen. By reducing overall fat tissue, GLP-1s lower the amount of this hormone circulating in the body, which can decrease the risk of hormone-driven cancers like breast cancer.

— Managing insulin levels: These medications drastically improve blood sugar and insulin sensitivity. This matters because consistently high can act like fertilizer for cancer cells, helping them grow and multiply. GLP-1s help cut off that fuel supply.

[SEE: ]

Do GLP-1s Have Direct Anti-Cancer Effects?

The metabolic benefits of GLP-1 medications may have direct cancer-protective effects on the body through various possible mechanisms, including:

— Slowing cancer cell growth (proliferation): Early studies suggest GLP-1 signaling may help slow the growth of some cancer cells.

— Triggering apoptosis: GLP-1s may encourage damaged or abnormal cells to undergo apoptosis, the body’s natural process of programmed cell death.

— Influencing cellular signaling pathways: whether GLP-1s affect pathways such as cyclic AMP/protein kinase A (cAMP/PKA), which help regulate cell growth and survival.

However, it’s important to note that more research is needed.

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Risks, Warnings and Limitations: Is There a Catch?

While the early research shows promise, experts are cautious and emphasize that these drugs are not a magic bullet for cancer prevention.

“The current research is encouraging, but we need to be careful about how we interpret it,” Gary says. “That does not mean these medications are proven cancer-prevention therapies. Many of the studies are retrospective, which means they can show association, but they cannot prove causation.”

The primary limitation facing patients and doctors today is the lack of robust data from randomized , the gold standard for determining whether these drugs can reduce cancer risk, and regulatory backing.

“GLP-1s aren’t currently FDA-approved for cancer prevention in any capacity,” Gosain says. “GLP-1s won’t be considered as prevention treatments or therapies until we have prospective trials specifically designed to test cancer prevention as an endpoint, rather than as an incidental finding.”

However, even within these strict limitations, early research is showing promise for highly specific patient populations. For example, Dr. Mindie H. Nguyen, a professor of medicine (gastroenterology and hepatology) and, by courtesy, of epidemiology and population health at the Stanford University School of Medicine, co-authored consisting of a large U.S.-based cohort and found that GLP-1 use may help decrease the risk of liver cancer in high-risk individuals — specifically those with and metabolic dysfunction-associated steatotic liver disease (MASLD).

While it is too early to prescribe these medications broadly for oncology, they may offer a targeted preventative boundary for those already facing steep metabolic risks.

“Clinicians should consider that GLP-1s may be used for these at-risk patients to reduce the progression of cancer,” Nguyen says.

The medullary thyroid cancer (MTC) warning

The primary cancer-related safety concern with GLP-1 medications involves medullary thyroid carcinoma, a rare type of thyroid cancer. But it’s important to note that the warning stems from older animal studies in which after exposure to these drugs.

“In humans, the evidence has not clearly shown that GLP-1 medications cause thyroid cancer, and medullary thyroid cancer is rare,” Gary says. “But the warning is important and should be taken seriously.”

Additionally, GLP-1 medications aren’t recommended for people with a personal or of medullary thyroid carcinoma or multiple endocrine neoplasia syndrome type 2 (MEN2).

The Bottom Line: The Future of GLP-1s in Oncology

Early research suggests GLP-1 medications may help lower the risk of certain obesity-related cancers, but they are not currently FDA-approved for cancer prevention.

“What makes GLP-1s interesting is that they target upstream risk factors, especially obesity and metabolic dysfunction,” Gary says. “They may eventually become part of a cancer-prevention conversation for certain patients, but we need prospective studies and clinical trials before we can treat them that way.”

For now, if you are concerned about your cancer risk, focus on established screening guidelines and talk to your doctor about how your specific metabolic health — including weight, insulin levels and inflammation — fits into your overall prevention strategy.

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A second MBA could be useful for someone seeking or because the job opportunities have declined in the field tied to the first MBA.

If you’re determining whether to pursue a second MBA, here’s some expert advice that might help with your decision-making.

Benefits of Earning a Second MBA

Career trajectory would be one benefit, particularly for a professional looking to make a career switch, says Eddie Asbie, executive director of admissions and scholarship in the at Cornell University in New York.

In many cases, people getting second MBAs in the U.S. are foreign-born students who obtained their first in their home countries, he says.

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“I think that we find that most candidates feel like there’s a kind of gap in their experience or what their previous MBA has to offer versus more of (what) … maybe a has to offer,” Asbie says.

And while most U.S. MBA programs prefer applicants with a minimum number of years in the workplace, sometimes students had little or no before obtaining their degree.

For example, MBA students in India typically enroll in a program immediately after completing an undergraduate degree. They may find several years later that there was a better fit for a career in a different area of the industry, leading them to pursue a second MBA in a different field.

Does it Matter Which Business School?

The a student attends can make a difference in job opportunities.

“Certain schools are known for their work, whether it’s in or , sustainability or tech, for example,” says Asbie, adding that attending a certain school can also increase career recruiting prospects in a particular city or region.

The number of for-profit business schools has increased over the last 10 to 15 years, especially outside the U.S. But in many cases, MBA degrees from for-profit schools are not perceived as having as much value as those from nonprofit colleges, some experts note.

Prospective students should also be aware of the risks of enrolling in an unaccredited program. While U.S. higher education institutions must be accredited to receive federal funds — such as and federal student loans — accreditation is still voluntary.

Unlike unaccredited for-profit schools, accredited nonprofit institutions have to meet certain requirements for reaccreditation every four or five years, including faculty capabilities, that reflect on the value of the degrees they are awarding, says Kaushik Sengupta, associate dean of business graduate education in the at Hofstra University in New York.

For-profit programs appeal to some students because they often are cheaper and shorter than traditional MBA programs.

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Is Your MBA Outdated?

MBA-holders may find that they want to acquire another MBA because the curriculum they studied the first go-round is outdated, says Sengupta, who is also chair of management and entrepreneurship at Hofstra. This is particularly true when it comes to technology-related fields, such as and cybersecurity, which have evolved greatly over the last 10 years, he notes.

“We always say this to our current graduates: That your degree you’re getting would get outdated in a few years. And then you need to re-up your skill, or you need to find a way to actually keep up to date on what’s going on with the world industry.”

MBA-holders who find themselves with an outdated degree might consider enrolling in a program instead of going through a full MBA program, Sengupta says.

Why Should Someone Not Get a Second MBA?

The time commitment and of an MBA are two important factors to consider, Asbie says.

“I think a lot of candidates, they continue to go back and forth and think of the of an MBA,” he says.

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There are other higher education options besides an MBA, such as one-year specialized masters programs and that can advance someone’s professional career.

Some business schools place enrollment restrictions on applicants who already have MBAs, so those considering a second degree should conduct their research on a prospective program’s admissions criteria well before applying.

The Executive MBA Option

An program is part time and designed for busy working professionals with at least five years of work experience, typically. It’s for those with corporate suite aspirations who want to continue working full time while in school.

In an executive MBA program, which usually ranges from about 18 months to two years, “you’ll refresh your knowledge of fundamental topics like accounting, marketing and economics while developing enhanced decision-making, mindset and innovation skills. Plus, as a part-time student, you’ll be able to apply your leadership skills immediately in your current role — a benefit your employer will certainly value,” according to MBA.com, a website owned by the Graduate Management Admission Council, which administers the Graduate Management Admission Test.

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ETS, the nonprofit organization behind the GRE graduate school admissions exam and the TOEFL English-language proficiency test, has acquired ACT, one of the nation’s largest college admissions testing organizations.

ETS announced today that the acquisition is intended to combine the strengths of the two organizations and expand educational and workforce opportunities for learners. The organizations said they share a mission of helping students demonstrate their skills and prepare for college and careers in an economy increasingly shaped by .

“Every student deserves a strong education, a fair shot at and a path to a good job,” ETS CEO Amit Sevak said in a statement. “Together with ACT, we’re determined to serve students and parents along with educators and states by expanding access to education and job opportunities across America.”

The acquisition comes as standardized testing is entering another period of transition. While many colleges adopted test-optional admissions policies during the COVID-19 pandemic, numerous schools, particularly , have resumed requiring scores.

The not-for-profit College Board owns the SAT, the other major standardized college entrance exam.

“Higher education is evolving quickly, and assessment providers have to evolve with it,” says Kerr C. Ramsay III, senior vice president for enrollment at in North Carolina. “Bringing together organizations with deep expertise in measurement has the potential to accelerate innovation in areas like digital testing, score reporting and student support. Ultimately, any change should be judged by whether it improves access, transparency, and confidence in the admissions process. Students deserve an assessment ecosystem that is continually improving rather than standing still.”

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How Will the Acquisition Work?

According to ETS, ACT will continue operating as its own organization while benefiting from ETS’s expertise in educational measurement, research and innovation. The organizations said ACT customers and partners shouldn’t experience disruptions to the products and services they currently use.

Sevak says the acquisition builds on the organizations’ shared missions.

“ACT’s mission and impact are highly complementary to ETS’s mission of advancing the science of measurement to power human progress,” Sevak says. “Together, we will expand our ability to support learners throughout their journeys — from K-12 through higher education and into their .”

ACT CEO Steve Tapp also said the partnership is intended to broaden the organization’s reach while maintaining its existing mission.

“Becoming part of ETS will allow us to take what we’ve built and scale it within a broader vision for readiness,” Tapp said in a statement. “Joining ETS gives us the platform to fulfill our mission at a scale we couldn’t reach alone. This is about more students getting the guidance they deserve, and more of them finding their way forward with confidence.”

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ACT is best known for its college admissions exam, which is accepted by the vast majority of four-year colleges and universities in the U.S., with some exceptions such as schools that are test-blind and don’t look at scores even if they are submitted.

ETS administers a range of assessments used by students and professionals around the world, including the , and Praxis exams.

Will Students See Changes to the ACT?

For students planning to take the , the answer is no — at least, for now.

Neither ETS nor ACT announced changes to the ACT’s format, , testing schedule or score reporting as part of the acquisition. Students registered for upcoming exams should continue preparing as they normally would, and colleges will continue accepting ACT scores under their existing admissions policies.

Admissions experts recommend that students research each college’s testing requirements before applying. While some institutions have reinstated standardized testing requirements, many remain test-optional, meaning applicants can decide whether submitting ACT or SAT scores will strengthen their applications.

A competitive test score depends on the selectivity of the institution and how scores fit within the rest of an applicant’s academic profile. Some colleges require test scores when evaluating an applicant for .

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What the Change Could Mean for College Admissions

Although the acquisition is unlikely to immediately change the , it may signal a broader shift in how testing organizations view their role in education.

Rather than focusing solely on college entrance exams, both ETS and ACT have expanded into areas such as career readiness, workforce development and digital assessment tools. ETS says bringing the organizations together will allow them to invest more heavily in research, technology and learning solutions that support students from elementary school into the workforce.

For students and families, however, the biggest takeaway may be that the admissions process remains largely unchanged. Applicants should continue building a strong academic record, researching each college’s admissions policies and determining whether submitting test scores will strengthen their applications.

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According to a new analysis, a typical New York City household would need more than 65 years to save for the median first-time buyer . Meanwhile, in Warren, Michigan, saving for the median first-time buyer down payment takes just over three years.

The analysis estimates how long it would take typical households to save for a first-time buyer down payment, assuming they set aside 5% of their annual income each year. The down payment figures are based on from Rocket Mortgage closed from May 20, 2025, to May 19, 2026, and 2024 income data.

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The 10 U.S. Metro Areas Where Saving for a Down Payment Takes the Longest

To understand the massive scale of this geographic divide, look at how the estimated savings timelines and median down payments stack up across the country’s major housing markets. In these areas, sky-high home prices combined with larger down-payment percentages push ownership decades out of reach for the typical local earner:

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The Fast Track: 10 Metros Where Buyers Can Save the Fastest

Some metro areas offer a much shorter path to homeownership. First-time buyers in these 10 markets can save for a down payment in less than five and a half years:

Why Down Payment Expectations Vary Widely

These massive gaps between metro areas reflect the variation in home prices across the U.S. and how much buyers actually put down. First-time homebuyers don’t always have to put down a standard 20%, and some metros have a median first-time buyer down payment as low as 5%. In Warren and Detroit, for example, median first-time buyer down payments were about 5% of the purchase price — or $8,797 in Warren and $7,600 in Detroit.

In high-cost markets, first-time buyers often put down a larger percentage of the purchase price. First-time buyers in New York typically make down payments of around 30% of the purchase price, or $265,000, according to Rocket Mortgage data. In San Francisco, the median first-time buyer down payment was $400,000, or about 27% of the purchase price.

The Estimates Reflect a Savings Scenario

It’s important to note that these savings timelines reflect median down payments made by Rocket Mortgage’s first-time buyer clients, not the absolute minimum requirements to get a mortgage. The calculation assumes a household saves 5% of annual income each year, but doesn’t account for bonuses, investment returns, family help or that often gives homebuyers the financial boost needed to make those down payments.

For homebuyers looking to avoid these lengthy saving delays, there are other options. Some first-time buyers can qualify for with down payments as low as 3% or government-backed loans with low down payments. However, homebuyers should keep in mind that smaller down payments can increase monthly borrowing costs.

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The 10 best stocks to buy included below are all recommended by Argus analysts and have a Thomson Reuters consensus rating of “positive,” an Argus A6 quantitative rating of “buy” and a Market Edge rating of “long”:

*From June 29 market close.

Fastenal Co. ()

Fastenal is a leading industrial distributor that sells fasteners, safety supplies, and other tools and products, as well as supply chain solutions for manufacturing and non-residential construction clients. Analyst Kristina Ruggeri says Fastenal’s technology is helping the company maintain growth even in a sluggish market, and its onsite distribution facilities located near or within customers’ locations differentiate Fastenal from competitors. Ruggeri says the company’s focus on transitioning away from brick-and-mortar branches and prioritizing larger, more profitable customer accounts has it well positioned for 2026 and beyond. Argus has a “buy” rating and $50 price target for FAST stock, which closed at $47.40 on June 29.

Cheesecake Factory Inc. ()

Cheesecake Factory operates full-service casual restaurants throughout North America. In addition to core Cheesecake Factory restaurants, the company also operates North Italia, Flower Child and a diverse portfolio of boutique restaurant brands via its Fox Restaurant Concepts subsidiary. Analyst Christine Dooley says Cheesecake Factory has accelerated its store openings in recent years and plans to open an additional 26 new restaurants in 2026. Dooley says the company has been hitting its financial targets, expanding its footprint, raising its dividend and increasing its share buyback plan. Argus has a “buy” rating and $72 price target for CAKE stock, which closed at $79.36 on June 29.

NetApp Inc. ()

NetApp provides storage hardware, software and services to a wide range of enterprise customers. Analyst Jim Kelleher says NetApp reported all-time highs in operating profit, gross profit, operating margin and earnings per share in fiscal 2026, a particularly impressive feat given

and macroeconomic uncertainty surrounding tariffs and the Middle East. Kelleher says NetApp’s margins are benefiting from recent restructuring efforts, and the company is positioned to capitalize on accelerating AI demand momentum, focusing on large growth markets in the block and flash segments. Argus has a “buy” rating and $200 price target for NTAP stock, which closed at $155.06 on June 29.

Paccar Inc. ()

Paccar is a heavy-duty truck manufacturer that produces the popular Peterbilt, DAF and Kenworth brand highway trucks. Paccar also provides financial services, truck parts and transportation tech solutions. Analyst Bill Selesky says Paccar has a reputation for having a quality management team and reliable trucks that offer enhanced comfort and command premium prices. Selesky anticipates new truck delivery trends will rebound in mid-2026, leading to a recovery in Paccar’s sales and margins. In addition, he says the One Big Beautiful Bill Act will be a long-term tailwind for trucking. Argus has a “buy” rating and $145 price target for PCAR stock, which closed at $119.60 on June 29.

D.R. Horton Inc. ()

D.R. Horton is one of the largest U.S. homebuilders. Analyst Christopher Graja says D.R. Horton has exceptional financial strength within the homebuilder industry and unrivaled expertise in producing affordable homes. Graja says the current housing market is very bullish for D.R. Horton. He says large builders have an advantage over smaller competitors, and there is tremendous demand for affordable homes in the U.S. In addition, the cost of owning a new home compared to purchasing an existing home is relatively low in 2026. Argus has a “buy” rating and $185 price target for DHI stock, which closed at $164.23 on June 29.

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Sanmina Corp. ()

Sanmina is an electronic manufacturing services company that provides customized services to original equipment manufacturers in industries such as communications, enterprise computing, multimedia, automotive, and . Sanmina acquired the manufacturing business of ZT Systems from Advanced Micro Devices in October 2025. Kelleher says the ZT Systems acquisition increases Sanmina’s scale and exposure to the high-growth AI and cloud services infrastructure markets. He says Sanmina is attractively valued, is executing well, is winning over customers and is positioned for margin expansion in 2026. Argus has a “buy” rating and $260 price target for SANM stock, which closed at $240.41 on June 29.

Zions Bancorporation NA ()

Zions Bancorporation is a U.S. regional bank that operates seven different brands of bank branches in the western U.S. in states such as Utah, California and Texas. Its leading bank brands include Zions Bank, California Bank & Trust and Amegy Bank. Analyst Kevin Heal says the current interest rate environment and yield curve suggest Zions’ net interest margins should stay in the 3.2% to 3.4% range in the near term, boosting earnings. Heal says Zions also has a high loan-to-deposit ratio and strong capital levels. Argus has a “buy” rating and $70 price target for ZION stock, which closed at $69.52 on June 29.

Cintas Corp. ()

Cintas is a leading supplier of corporate identity uniforms. The company also provides cleaning services and supplies, as well as first aid products. Ruggeri says Cintas has a track record of dividend and earnings growth, and the stock’s long-term outperformance and high customer retention rates are a testament to the strength of its management team. She says Cintas’ business model generates significant recurring revenue and provides opportunities for the company to cross-sell services and products to different customers. Technology investments have also helped streamline operations and improve margins. Argus has a “buy” rating and $220 price target for CTAS stock, which closed at $169.08 on June 29.

U.S. Bancorp ()

U.S. Bancorp is one of the largest U.S. banks and has a diversified business model that includes traditional banking, wealth management, securities and payment services. In January 2026, U.S. Bancorp announced the acquisition of financial services firm BTIG, which specializes in investment banking and institutional sales and trading. Analyst Stephen Biggar says the BTIG deal will add about $750 million in annual revenue and will strengthen U.S. Bancorp’s relationships with institutional clients. Biggar says U.S. Bancorp’s peer-leading efficiency metrics warrant a premium valuation. Argus has a “buy” rating and $63 price target for USB stock, which closed at $61.28 on June 29.

3M Co. ()

3M is a diversified global manufacturing company that provides a wide range of manufacturing, industrial, safety and consumer products. Its leading consumer brands include Scotch, Post-it and Command. Ruggeri says 3M has dealt with several major headwinds in recent years, including product safety litigation, factory inefficiencies and supply chain weaknesses. However, she says 3M has taken aggressive measures to conserve cash, improve revenue and earnings growth, streamline operations, create innovative new products and generate cross-selling opportunities. Ruggeri says 3M’s initial progress on its turnaround efforts is encouraging. Argus has a “buy” rating and $190 price target for MMM stock, which closed at $162.43 on June 29.

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Just how high is that price? The median sales price for homes sold in Los Angeles is $1.065 million as of May 2026, according to a housing market summary from the real estate marketplace .

Keep reading to learn how much you’ll need to earn to qualify for a to buy a home in Los Angeles.

What Mortgage Lenders Require From LA Buyers

When determining housing affordability, mortgage lenders use . Your monthly mortgage payments, including principal and interest as well as taxes and insurance, should not exceed 28% of your gross monthly income. All of your monthly loan obligations, including your mortgage as well as other recurring debts like auto loans or personal loans, should not exceed 36% of your take-home pay.

Excluding other debts, there are two ways to determine housing affordability: by using your salary or by reversing the formula to use the monthly payments to calculate the salary you’ll need.

Let’s say you have a salary of $80,000. Divide by 12 to convert your annual salary into your monthly income. Then, multiply that by 0.28 to find your maximum monthly mortgage payment. In this case, it’s $1,867. That amount falls significantly short of what it takes to buy a typical home in Los Angeles.

Or, if you want to know how much you should earn to afford a $2,000 mortgage payment, simply divide by 0.28 to get the monthly income needed. Multiply by 12 to get an annual salary. In this case, the salary needed is $7,143 monthly, or $85,715 yearly. Again, these are not LA numbers. So, let’s do some math.

Calculating the Typical Monthly Payment in LA

For the purposes of this exercise, we’re going to make a few assumptions:

— The home’s purchase price is $1,065,000, which is the median sales price of homes sold in Los Angeles as of May 2026, per Realtor.com data. Still, Los Angeles has all types of neighborhoods at a variety of price points. The median listing price ranges from $730,000 in Eastside LA to $3.6 million in the Pacific Palisades. Where you live in LA will impact the salary you need to buy a house.

— The buyer is taking out a 30-year fixed-rate mortgage. While this type of home loan is the most popular option among homebuyers for its low, predictable monthly payments, many high-income buyers choose that start out with lower rates and monthly payments to maximize cash flow. It all depends on your financial situation.

— The loan comes with an interest rate of 6.5%, which is in line with today’s 30-year fixed mortgage rates. There are ways to snag lower rates, such as paying for mortgage discount points to buy down the rate or assuming the seller’s mortgage. But for the remainder of 2026, are expected to remain in the mid-6% range.

Two Scenarios for an LA House: What Is the Monthly Payment?

Using the 28/36 rule, you’d need to earn $23,329 monthly, or $279,943 annually, to be able to afford the low-end payment of $6,532.

To afford the $9,975 monthly payment on the higher end of our example, you’d need to earn $35,625 monthly, or $427,500, annually.

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Principal and Interest: $5,385 to $6,395

The bulk of your monthly mortgage payment usually goes to principal and interest. The principal is the actual amount of money you borrowed, while interest is the fee the lender charges you to borrow it. Your P&I will depend on how much the home costs, how much money you put down on the home, the repayment term you choose and the mortgage rate you pay.

Assuming you bought a home priced at $1,065,000, let’s say you came prepared with a 20% down payment (or $213,000) and landed a mortgage rate of 6.5% on a 30-year home loan. Your monthly P&I would be $5,385.

Of course, that assumption comes with a lot of variables. You could choose a , which would help you build equity faster but come with much higher monthly payments. A 30-year mortgage comes with low monthly payments, which is why the vast majority of homebuyers choose this repayment term.

You also don’t need a 20% down payment. You may qualify to put as little as 3% down with a , or even 0% down if you’re an eligible military service member who qualifies for through the Department of Veterans Affairs. A lower down payment could save you money up front and enable you to buy a home in LA without hundreds of thousands in your homebuying fund. However, a lower down payment will result in a larger loan amount with higher monthly payments.

Property Taxes: $976 to $1,243

Despite California’s reputation for being expensive, the state actually has a pretty average property tax rate, according to a , a nonpartisan tax policy think tank. However, the amount you pay in property taxes in Los Angeles will likely be high because home values are high.

The general tax rate for the state of California is 1%. It was capped by Proposition 13, a state constitutional amendment passed by voters in 1978. Prop 13 also caps annual assessments to rise no more than 2% per year until the next sale, which can protect LA homeowners from being displaced due to rising property values.

In addition to the 1% state-level tax, municipalities in LA have voter-approved bonds for schools and infrastructure as well as special assessments. All told, property owners in Los Angeles pay an effective tax rate of 1.1% to 1.4%, according to Randall Wealth Management Group, a financial advisor firm in Long Beach, California.

For a general estimate, you can cut it down the middle and use an estimated tax rate of 1.25%.

Home Insurance: $171 to $366

The average annual home insurance premium in California is $3,683, or $307 monthly, according to . That’s calculated with a dwelling limit of $800,000, using the average home cost in California, although the premiums may be slightly higher in LA since home values are higher.

On the low end of the spectrum, the annual premium would be $2,046, or $171 monthly, compared with $4,391, or $366 monthly, on the high end.

It’s more expensive to insure a home in California than elsewhere in the nation for multiple reasons. For one, a more expensive property is more expensive to insure, because it’ll cost more to rebuild in the event of a loss.

Additionally, Los Angeles has a climate risk that drives up the cost of homeowners insurance and has even driven some insurers out of the state. The Los Angeles wildfires of January 2025, which were the worst in the city’s history, are estimated to have cost up to $131 billion worth of property and capital losses, according to a by economists at the University of California, Los Angeles.

Mortgage Insurance: Up to $971

If you put down less than 20% on your home purchase, your lender will require you to carry mortgage insurance. This added monthly cost protects the lender in the event of a foreclosure.

For a conventional loan, typically ranges from 0.5% and 1% of the loan amount. On a Federal Housing Administration loan, the monthly mortgage insurance premium is 0.55% to 0.75% of the loan amount for a 30-year mortgage or as low as 0.15% for a 15-year mortgage with at least 10% down.

Freddie Mac has a , which we used to estimate the PMI on a $1,065,000 home with a 5% down payment: $971.

Of course, the type of mortgage insurance you need will depend on the type of mortgage you have. Notably, how much you pay will depend on your down payment amount and credit history. Having a higher credit score can help you land — and the opposite is true as well.

Note: While you might assume that a million-dollar home needs a special kind of mortgage, that’s not the case in many high cost-of-living areas — including Los Angeles. The in Los Angeles County is $1,249,125 for 2026. So, you can potentially buy a median-priced home in LA using a conventional loan, or even an , not necessarily a .

HOA or Condo Fees: Up to $1,000

The median monthly homeowners association or condo fee in the city of Los Angeles is $479, according to the U.S. Census Bureau’s 2024 American Community Survey, which is the most recent available publication.

However, only about a fifth of housing units require a fee, ACS data shows. Among those who do pay a monthly fee, 29% say it’s between $500 and $749. Nearly 10% pay $1,000 or more per month.

Whether You Can Afford a House in LA Just Depends

It’s safe to say that you’ll need a high household income to buy a house in LA, but you might be able to get by on the cheap if you purchase a or even a small condo. As a rule, though, a six-figure salary is pretty much a requirement for living comfortably in Southern California.

Getting through a lender can give you an idea of the mortgage amount you can qualify for, but carefully consider how the monthly payment would fit into your budget to avoid biting off more than you can chew and going housebroke.

To really find out if you can afford to buy a house in LA, you should talk to a trusted . And if homeownership isn’t within reach, renting is always an option.

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Banks are closed on the Fourth of July, Saturday, July 4.

In 2026, there are 11 federal holidays observed by the Federal Reserve, which regulates the United States banking system. These bank closures could affect your banking activities and delay your funds. For example, if you deposit a check on the Fourth of July, the funds may not become available until the next business day. Below is the complete list of bank holidays in 2026.

Bank Holidays 2026

If a holiday falls on a Saturday, like Independence Day, the bank will still be open on the Friday before, but if a holiday occurs on a Sunday, the bank will be closed the following Monday.

What Holidays Are Banks Open?

Most U.S. banks will be open on these holidays:

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Using an ATM on a Federal Bank Holiday

Although bank branches will be closed on a holiday, the ATMs will not. You will be able to check your account balance and make cash withdrawals. As a plus, some banks offer ATMs that are open 24 hours.

Paying a Bill on a Bank Holiday

If you have an automated bill payment that falls on a Federal Reserve holiday, the payment won’t process until the next business day, which can lead to extra fees if you miss the due date. All withdrawals will also be suspended on bank holidays. Make sure you plan ahead for bills that fall on these holidays so your payments post in time.

Alternatives to Banking on Federal Reserve Bank Holidays

Thankfully, most have online accessibility when their brick-and-mortar locations are closed. This access makes it possible to do a lot of things on a bank holiday, such as deposit a check with your smartphone. However, the check likely won’t be processed until the next business day.

You will also be able to open up a bank account online during a bank holiday, including checking accounts, savings accounts, money market accounts or certificates of deposit.

If you need to send money to someone on a bank holiday, consider using a payment app, such as Venmo or PayPal, which allows you to send and receive money from people.

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From Roots Picnic in Philadelphia to Outside Lands in San Francisco, these events bring together top artists, emerging performers and thousands of fans for unforgettable weekends of live music. But while festivals can create lasting memories, they can also put a strain on your budget.

The ticket is only the beginning. Travel, lodging, food, drinks, merchandise and other expenses can quickly add up. Depending on how much you splurge, a three-day festival can cost anywhere from several hundred dollars to several thousand.

Estimated Cost of a Three-Day Music Festival

The good news is that you don’t have to spend the most money to have the best experience. Here are ways to keep festival costs under control.

1. Buy Tickets Safely

Avoid deals that seem too good to be true. Ticket scams are common, especially for sold-out events.

Instead of buying from strangers online, purchase tickets directly through the festival website or an authorized ticket seller. If you must buy from another person, use a trusted source and verify that the transfer is legitimate.

“Never buy tickets from a scalper,” says Lindsay Stevens, who has handled public relations for the Riverbeat festival in Memphis, Tennessee. “Get them from a verified third-party vendor like Ticketmaster or someone you trust. Facebook friend groups for last-minute tickets can be good too, because you’re connected with people you know.”

However, the best option is to go straight to the festival’s website or an authorized ticket platform like Eventbrite. Buying from the source is easy, and you won’t have to worry about fraud.

Some artists, promoters and radio stations also give away tickets through social media contests and promotions. Following official festival accounts can help you spot those opportunities.

“iHeartRadio is great,” Stevens says. “Promoters use it as a promo tool to get people excited about the event. We do a fixed dollar amount for the number of tickets we’re giving away through the station. It’s good advertising.”

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2. Use Reputable Resale Platforms

If tickets are sold out, consider a legitimate resale marketplace such as SeatGeek, StubHub or Ticketmaster Resale.

These platforms typically offer buyer protections and verified ticket transfers. Just remember that prices fluctuate based on demand. Popular festivals often become more expensive as the event approaches, while slower-selling events may see last-minute discounts.

3. Use Credit Cards Strategically

Many major festivals are cashless, making credit cards the easiest way to pay for food, drinks and merchandise.

Credit cards also offer stronger fraud protections than debit cards. However, make sure you have a plan to pay off the balance quickly. Carrying festival expenses at a high interest rate can significantly increase the true cost of your trip.

Rewards cards may help offset some expenses through cash back, points or travel rewards.

For example, if you have a offering 2% back, you’ll earn $40 after charging $2,000. Credit card shopping portals can help too. Capital One’s Entertainment portal offers 8% cash back, or 5x miles, you have when you purchase tickets through the company’s system.

Or, this may be the time to open. For example, if the ticket price is $500, a can be attractive since it will give you $200 after spending that amount, which brings the net ticket price down to $300.

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4. Think Carefully Before Using Payment Plans

Many festivals now offer Buy Now, Pay Later (BNPL) plans that allow attendees to spread ticket costs over several months.

While installment plans can make expensive tickets more manageable, they only work if the payments fit comfortably within your budget. Missed payments may result in fees and could potentially affect your credit.

Before choosing a payment plan, calculate whether you’ll still have enough money left over for everyday expenses and festival costs, such as travel and lodging

“I know a lot of people who are paying in installments, and I think that’s a good option,” says Corona Smith, a recent UCLA graduate and regular festival attendee who lives in San Francisco. “But I like to just get the tickets way ahead of time, and make it work by not going out to dinner, hanging with friends or going out for drinks for a few weeks.”

Only use BNPLs when you are confident that you can afford the series of payments. If you don’t pay on time, you’ll get hit with a late fee. Let it go too long, and you’ll get a delinquency reported to your credit file, which will negatively affect your credit scores.

If the payment is too high, it can impact the amount of money you have for regular bills, causing you to turn to credit cards to make up the difference. Break a $600 ticket into four even installments and you’re looking at $150 each month. If is already thin, this could be tough to manage.

5. Take Advantage of Credit Card Benefits

Some credit cards provide access to ticket presales, exclusive events and entertainment perks.

Depending on the issuer, cardholders may receive early access to tickets, VIP experiences or special promotions. These benefits can help you secure tickets before prices rise on the secondary market.

Check your card’s entertainment and travel benefits before purchasing tickets.

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6. Work or Volunteer at the Festival

One of the best ways to reduce costs is to earn your way in. Festivals often hire temporary workers for merchandise booths, concessions and event support. Some positions include free admission, meals and other perks, and volunteer opportunities may also be available in exchange for complimentary tickets.

“Oftentimes vendors are hiring for the day,” says Christine Collins, a music festival industry veteran. “Sell merchandise or concessions and get free food, free tickets and sometimes free perks.”

According to Collins, you may also score free entry by signing up to be a crowd informant while still wearing your stylish festival clothes. Security professionals can’t be everywhere, so they often rely on volunteers to walk around and notify them about suspicious activity.

7. Get a Behind-the-Scenes Experience Without the VIP Cost

Going backstage to see your favorite entertainers up close and personal can be a thrill, but it’s usually reserved for people paying extra for the privilege.

You may not need to shell out the money for backstage access, however. According to Collins, you might be able to become what’s known as a runner.

“You’re a gopher for the greater good,” she says. “You’re tasked out to retrieve items for talent and their teams, sometimes the venue. You can also apply to be an alternate, which means you’re attending but get called to duty, but only if needed,” she says. Check the event’s webpage for jobs.

8. Save on Festival Fashion

Festivals are fashion-forward events. You can stand out in the crowd with cool outfits without overpaying, says Lana Ashby Rowder, stylist and founder of fashion tech platform LookingGLASS, who is also a music festival enthusiast. She says anyone can be a festival fashionista for almost no money.

Here are her festival money-saving tips:

— Shop your closet and check to see what you can assemble in creative ways.

— Go thrift shopping — other people’s wild cast-offs can be your new look.

— Modify what you have: Cut jeans into shorts, bedazzle clothes or clip in feathers.

“There are no rules,” Rowder says. “Have fun, show your personality. You can do that with a T-shirt that says something unique to you.”

If you do want to buy new, don’t waste your money on things like expensive footwear.

“People take them out for the first time, and their feet are bloody or they’re ruined,” Rowder says. “Wear your trusty sneakers. A lot of people are jumping around and stepping on toes. Definitely don’t wear open-toe shoes, as you’ll be going in porta-potties.”

Also avoid wearing anything super expensive that can be ruined or knocked off, like a nice hat.

Sharing clothes can also help you save. Smith gets together with her friends before the festival and swaps clothes they already own, assembling it all into a group look.

9. Pack Smart

Jamie Roberts, founder of For the Win Media in New York City, has been going to music festivals for more than 30 years and warns against under-preparing. If you don’t bring certain things, you may have to pay a premium for them once you’re inside.

“Bring a handheld fan, with misting if it’s in August, so you don’t die of heat stroke and don’t have to keep buying water,” Roberts says. “Wear or bring layers so you don’t need to buy merch to be warm. People forget the day-to-night temperature change.”

Also, pack a small tube of sunscreen and a tiny first-aid kit so you don’t have to seek out the medical tent for small scrapes or blisters. Make sure you review the festival’s bag policy before you leave so you know what you’re allowed to bring.

10. Pregame and Pack Snacks

If you enter the event site hungry or thirsty, your bank account may suffer.

“Inside the festival is a huge money suck,” says Smith, who suggests eating and drinking before you go in. “If you can bring food into the festival, definitely do that. You will literally spend $20 for fries.”

Check the bag policy before you go. For example, at Bonnaroo, held in Manchester, Tennessee, bags must be clear and smaller than 12″ x 6″ x 12″. Consider those dimensions and see how many protein bars and packets of nuts you can stuff in.

Clear water bottles may be allowed in, but chances are you’ll drink most within the first couple of hours. Hang onto the vessel and refill it at the free hydration station.

11. Score the Swag

Festival merchandise is cool, but often pricey. For example, a hoodie advertising Chicago’s 2026 Summer Smash retails for $100.

Victoria Vesce, a West Palm Beach, Florida-based events content creator, recently went to her first festival, Stagecoach. She suggests looking for branded promotional gear instead.

“There are tons of free giveaways, parties and brand activations,” Vesce says.

“You can accessorize your whole look once you’re there. I picked up skincare, hats and drinks at sponsor booths, and a bunch of people scored pieces to complete their outfits. Definitely reach out to brands ahead of time to get invites to extra parties and pop-ups. Send a DM to the brand,” she adds.

And if you absolutely must buy the festival’s official gear when you’re there, consider waiting until the very end, when vendors may be selling merchandise at a deep discount.

12. Secure Budget-Friendly Accommodations

“Check the festival’s website for local hotel and retail partners,” Stevens says. “They may offer special deals on packages.”

If you can’t afford a hotel room, check out camping options, which are usually available. Smith says that’s what she does, as even local Airbnbs can be expensive due to high demand.

Depending on the festival, you can score very low-cost tent sites. For example, the tent/car camping pass for the Country Summer Music Festival in Santa Rosa, California, is $165 and accommodates up to five guests. Split among your group, that’s just $33 per person.

If you want a more elevated experience, many festivals offer more luxurious tents. For example, a two-day VIP hideaway glamping tent for the 2026 Northlands Live event is $1,599.

Only you know what you can handle. If camping is uncomfortable or people are partying until the sun goes down, you may not enjoy the next day because you’ll be so exhausted. If sleep is a necessity, plan your budget for an Airbnb or a hotel.

Make the Most of Your Festival Budget

Music festivals don’t have to drain your bank account.

By planning ahead, buying tickets carefully and managing expenses before you arrive, you can enjoy the experience while keeping costs under control.

And if your dream festival isn’t in the budget this year, start saving now. Setting aside about $167 per month would give you roughly $2,000 for next summer’s event.

More from U.S. News

originally appeared on

Update 06/29/26: This story was published at an earlier date and has been updated with new information.

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Federal prosecutors said Philippine national Enrico Ronquillo impersonated a U.S. citizen to board the Discovery Princess in May 2025 and later used a second stolen identity to withdraw thousands of dollars from the ship’s casino. He pleaded guilty to false impersonation of a U.S. citizen and aggravated identity theft before receiving a 53-month prison sentence, more than $25,000 in restitution and removal proceedings following his incarceration.

The case is an unusual example of identity theft occurring during travel, but experts say it also serves as a reminder that vacations can create opportunities for criminals to misuse personal information if travelers aren’t careful.

How the Cruise Identity Theft Happened

According to federal prosecutors, Ronquillo boarded the cruise using the name, date of birth and address of an unsuspecting U.S. citizen. Investigators later recovered multiple fraudulent identity documents during the investigation and determined he had also used stolen financial information while aboard the ship.

“Mr. Ronquillo knowingly used stolen identities and personal information of innocent U.S. citizens to gain passage on a cruise ship and enrich himself at its casino,” U.S. Attorney Michael J. Heyman for the District of Alaska said in a statement.

The case ultimately resulted in convictions for both false impersonation of a U.S. citizen and aggravated identity theft.

What Is Aggravated Identity Theft?

While generally involves using another person’s personal information without permission, aggravated identity theft is a separate federal crime that applies only under certain circumstances.

“Aggravated identity theft is a more specific federal offense. It may apply when a person knowingly uses, transfers or possesses a means of identification belonging to another real person without lawful authority while committing certain qualifying felonies,” says , a civil and criminal attorney and founding partner of Slaughter & Lupton.

However, Lupton notes that not every crime involving someone else’s identity qualifies.

“Using another person’s identity during a crime does not automatically make the conduct aggravated identity theft,” he says. “The misuse of the identity must be central to what makes the underlying offense criminal.”

, partner in McCarter & English’s cybersecurity and data privacy practice and former privacy and civil liberties officer and deputy general counsel at the FBI, says the charge is generally limited to a specific list of underlying federal crimes.

“While aggravated identity theft isn’t an option for everything, the listed felonies tend to relate to theft of public money or by a person of trust, false statements related to citizenship, a passport, or various immigration offenses, bank fraud or a false statement to acquire a firearm,” Prest says.

How Travelers Can Protect Their Identity

While cruise lines have for passengers, travelers remain responsible for their own personal and financial information throughout their trip, though may help cover the theft of any personal items, including cash.

Experts recommend carrying only the identification and payment cards you’ll need, keeping passports and other important documents in a secure location, and avoiding unsecured public Wi-Fi networks when accessing bank accounts or making purchases.

It’s also a good idea to monitor bank and credit card accounts before, during and after a trip. Reviewing transactions regularly can help travelers identify fraudulent charges early, making it easier to contact financial institutions before additional losses occur.

If your wallet, identification or financial information is stolen while traveling, experts recommend immediately to the appropriate financial institutions, notifying law enforcement if necessary, placing a fraud alert or security freeze on your credit if warranted and reporting the incident to the Federal Trade Commission.

Although identity theft cases like Ronquillo’s are uncommon, cybersecurity experts say taking a few preventive steps before leaving home can significantly reduce the risk of becoming a victim and make it easier to recover if your information is compromised.

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