Meghan, Duchess of Sussex, announced that they planned

"to step back" from their roles as senior royals

and to split their time between Britain and North America.

The two also declared that they wanted to become

"financially independent"

and provide their son, Archie Harrison,

with a more balanced life.

Here's what it all means.

-Since they began dating in 2016,

they have been hounded nonstop by the British tabloids.

They really have suffered at the hands

of the media, Meghan, especially.

Coverage of her for the last four years has been nasty.

It's been spiteful. It's been relentless.

The two basically are saying, "Enough is enough now

and this is how we want to live our life".

While they said they're stepping back,

they didn't say they were stepping down.

Meghan is, you know, she's biracial.

She's American.

She's divorced.

So, that made her an easy target for the British tabloids.

Many here and fans and supporters of Meghan

will argue that Britain's media do not like change,

the fact that Harry was breaking down all these boundaries.

He was swerving several traditions.

Some of the stories have been sexist.

They've been racist. They've been vicious.

She didn't fit the ideal mold

of what Prince Harry should have married,

according to the British tabloids.

-Harry's been very vocal about not wanting Meghan

to suffer like his mother,

Princess Diana, who was hounded by the press,

right up until the moment she died in 1997.

-They live in Frogmore Cottage, which was recently renovated,

so, of course, there's been a lot of criticism from people,

that have said, "Oh, you spent all of this taxpayer money

on the cottage and, now, you're moving".

But they do want to stay at Frogmore Cottage.

It's likely that they will still use

that as a base when they are here.

People have also speculated that, actually,

they might just go and live in Canada forevermore.

But I guess we just have to wait and see.

They aren't packing everything up and going to the US for good.

All they really said in the statement

was that they want him to have a balanced life.

And, when he was born,

they didn't give Archie a royal title

and that actually was a move that signaled,

for a lot of people, that maybe they want him

to live a relatively normal life

because they don't want him to live

this very traditional royal life

that his cousins Prince George and Princess Charlotte

and Prince Louis are living.

And it's important to note that Harry is a lot further

down the line of succession to the British throne.

They did indicate that they would still continue

to live off the money that Harry's father,

Prince Charles, who is heir to the British throne, has.

They did say in the statement

that they would continue to do charity work

and to honor the queen and the Commonwealth.

While it's likely that it will be something in that sector,

we just don't know right now.

-Harry and Meghan said they want to become

financially independent,

stating they value the ability to earn a professional income.

In 2019, Harry and Meghan received around

$6pointfive million from funds

that his father receives via his Duchy of Cornwall estate,

covering what they said were 95% of their costs.

On their new website, Harry and Meghan stated

that they will no longer accept money

from the taxpayer-funded Sovereign Grant,

which has covered 5% of their expenses.

Harry's net worth is estimated to be around $39 million,

most of it inherited from his mother, Princess Diana;

and his great-grandmother Queen Elizabeth,

the Queen Mother.

Meghan's net worth is estimated to be around $5 million,

much of it coming from her role on the TV series "Suits".

-So, I think Harry, you know, he loves his family.

He's a family man. He's been very clear about that.

But, while he is part of the royal family,

he has a new family. He has a wife, now.

He has a baby son, so, he wants to protect them

from everything that his mother

went through at the hands of the press,

which is likely why they've made this decision.

-There are no hard and fast rules beyond that Harry

and Meghan will be expected to use good judgment

and remember that the family is supposed to be apolitical.

Harry will remain in deep discussions

with his grandmother Queen Elizabeth II;

his father, Prince Charles; and his brother, Prince William;

about the couple's future role.