Looking back, Fischer said she became a psychiatrist to understand the mysteries of the human brain. Over the course of about 11 months, she became a mystery to herself. “You know you’re wasting your life or time or money,” she said. “You just can’t get out.”

Does it matter for your taxes if you spend $500 on your hobby, or if you spend the same amount promoting your side hustle where you earn extra money? It sure does. If your activity is a hobby, your expenses are not tax deductible. But if you are running a business (even a very small business), you can write off your expenses.

You can trigger significant tax and other costs when withdrawing money from 401(k) programs before retirement age.

If you’re short on funds and have exhausted other options, you might consider borrowing money from your retirement plan. In some cases, this can be a cheaper alternative than using a credit card or taking out a personal loan. But if you’re not careful, it can cost you.

“As they age into their retirement years, baby boomers have proven reluctant to leave homes where they feel comfortable and where their costs are affordable,” according to the report by financial education specialist Brad Chastain. “The result is that 38% of American homeowners age 65+ have lived in their home for more than 30 years.

Homebuyers, entrepreneurs and public officials are confronting a new reality: If they want to hold off on big purchases or investments until borrowing is less expensive, it's probably going to be a long wait.