Money, Wealth & Power—A Daily Look at the Financial World
For Americans turning 59 this year, the math on retirement can feel unforgiving. Federal Reserve data can provide a reality check on what households approaching 60 actually have saved in retirement accounts, even if it doesn’t define a single “on track” target for everyone. But a set of higher contribution limits for 2026, combined with…
Social Security’s retirement trust fund is now projected to run dry in 2033, one year sooner than previously estimated, a shift that could force automatic benefit cuts of roughly $460 per month for the average retired worker unless Congress intervenes. The 2025 Annual Report from the Board of Trustees, released in mid-June, accelerated the depletion…
The classic promise of retirement at 65 is colliding with a harsher financial reality, where a nest egg of $70,000 can feel less like freedom and more like a warning light. Instead of exiting the workforce, older Americans are clocking in at big-box stores, logging into remote consulting gigs, and even “unretiring” after brief attempts…
The Social Security Fairness Act has restored benefits for more than 3.2 million former public workers whose checks were previously reduced or eliminated, but the lump-sum retroactive payments now landing in bank accounts are creating an unexpected tax problem. Signed into law in early 2025, the legislation repealed two long‑standing provisions that had penalized retirees…
Billionaire entrepreneur Mark Cuban has built a reputation for blunt financial advice, and his take on retirement savings is no exception. Cuban argues that a 401(k) alone leaves most Americans dangerously exposed to economic shocks, especially when they lack liquid cash reserves to absorb emergencies. His prescription is simple but runs counter to the default…
Warren Buffett has spent decades distilling his investment philosophy into plain-spoken rules that apply far beyond Wall Street trading desks. For investors over 50 who face shrinking time horizons and rising vulnerability to market downturns, three of those principles carry particular weight: protect your capital, guard your integrity, and refuse to let inflation quietly drain…
Five federal policy changes are quietly reshaping the financial outlook for millions of Americans approaching or already in retirement, and they amount to retirement perks many people did not expect to see. From a hard cap on prescription drug costs to a new government match for modest savers, these shifts arrived with little fanfare but…
Higher-income workers approaching retirement age are set to gain a powerful new savings tool under federal law, but the benefit comes with a significant upfront tax cost that many savers have not yet accounted for. The SECURE 2.0 Act, signed into law as Division T of the Consolidated Appropriations Act of 2023, requires that catch-up…
Americans aged 55 and older have accumulated roughly $500,000 in average retirement savings, according to the federal government’s most authoritative household finance survey. Yet a growing body of evidence suggests that figure may cover only half of what they actually need for a comfortable retirement, creating a gap that could force millions to delay their…
The Department of Veterans Affairs issued an interim rule on February 17, 2026, amending the federal regulation that governs how disability examiners weigh the effects of medication when rating a veteran’s condition. Within two days, the agency reversed course and halted enforcement after veterans’ groups and lawmakers condemned the change as a backdoor benefits cut….