Your Money: A new era and the quest for a down payment

January 21, 2025

	By Ron Lieber

Hi everyone —

It feels like a lot is happening, no? We have links below to several stories about federal regulatory actions and another about a big move that Medicare is about to make.

Buying a home continues to be daunting as 30-year mortgage rates top 7 percent once again. Ann Carrns has a report on down-payment assistance programs, which lots of people know nothing about.

Meanwhile, a request please. In 2023, I wrote a letter to a young crypto investor. Given the Trump family’s stake in the industry and the number of people speculating on their offerings, I’m going to take a crack at rewriting the letter for 2025.

If you’ve had conversations with young people in your life about crypto (or are such a person yourself), I’d like to hear about any strong feelings you have. You can write to me at yourmoney_newsletter@nytimes.com.

And if you’re a parent circumventing various rules to let teenagers trade without supervision, well, you’re not alone. I can keep your name out of this letter but would still like to hear your thoughts.

Finally, a reminder that Tara Siegel Bernard and I published a guide to money and the new administration a few months ago. There is a form at the bottom of that article if you want to submit any new questions.

Have a good week,

Ron

An illustration shows a couple standing together looking at a home, as if considering buying it, but the front door and front steps are too high to reach.

Till Lauer

your money adviser

How to Come Up With a Down Payment on a House

With prices high, putting aside enough cash to buy a house can be daunting. But housing experts say there are assistance programs in all 50 states.

By Ann Carrns

retiring

5 Key Changes That Will Affect Your Money in 2025

This year, older workers will have ways to save more for retirement, spend less on medicine and see other ways to improve their finances.

By Diane Harris

Donald Trump holding up a signed piece of paper in the Oval Office.

What Did the Trump Tax Cuts Do? Nobody Really Knows.

Economic upheaval caused by the pandemic has clouded analysts’ ability to understand the effects of the 2017 tax law. Republicans call it a huge success and want to extend it anyway.

By Andrew Duehren

American Express to Pay $230 Million to Settle Deceptive Marketing Claims

The Justice Department said the company misrepresented its credit card rewards and fees and made false claims about the tax benefits of its wire transfer products.

By Tara Siegel Bernard

A person at an A.T.M. in front of a blue building with the words “Capital One” on it.

Capital One Is Accused of Cheating Customers Out of $2 Billion

Federal regulators said in a lawsuit on Tuesday that the giant bank deliberately underpaid savings account interest, even as rates rose.

By Rob Copeland

A close-up of the seal of the Securities and Exchange Commission on the side of a building.

Vanguard to Pay $106 Million in Restitution to Retirement Fund Investors

An investigation by the S.E.C. and several states found that the company had failed to notify investors of changes in the terms of some funds, leading to higher capital gains taxes.

By Matthew Goldstein

F.T.C. Sues Largest U.S. Apartment Landlord Over Hidden Fees

The antitrust and consumer protection agency accused Greystar Real Estate Partners of deceptive pricing, charging tenants millions of dollars in unadvertised fees.

By Danielle Kaye

A close-up view of boxes of Wegovy and Ozempic.

Medicare to Negotiate Lower Prices for Weight-Loss Drugs

The government is expected to pay lower prices for Ozempic and Wegovy starting in 2027. The Trump administration will decide whether to expand coverage for millions of Americans.

By Rebecca Robbins

An illustration features a calendar with images of various travel destinations: a beach, New York City, mountain ranges, et cetera. Just above the calendar is a paper airplane made out of a dollar bill. Inside it are three tourists, one in a ski hat, another in a sun hat, another wearing a pink jacket. They carry skis, suitcases and other travel gear.

Frugal Traveler

Want to Score Cheap Travel This Year? Here’s When to Buy.

Mark your calendar to take advantage of sales, slow periods and the best travel deals.

By Elaine Glusac

An illustration in hues of blue, cream and brown of three air passengers expressing signs of dismay through body language while looking at a gate sign at an airport that says “completely full flight.”

travel 101

Overbooked Flight? What You Can Do if an Airline Bumps You.

When airlines sell more tickets than available seats, passengers can get kicked off their flights — whether they want to or not.

By Christine Chung

An illustration of two people embracing against a backdrop of a blue sky and a green field. They are touching foreheads and have their eyes closed. Around them on leaves and branches, insects like ladybugs, grasshoppers and dragonflies are mating.

5 Vacations That Could Improve Your Sex Life

At these retreats in places like Costa Rica, California and the Berkshires, you’ll learn how to express your desires, enhance intimacy and build self-confidence.

By Caren Osten Gerszberg

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