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…
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…
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…
Retiring baby boomers who rush to buy a dream home on the same day they leave the workforce risk draining their savings at a pace that few fixed-income budgets can absorb. The average Social Security check for a retired worker will be $2,071 per month in January 2026 after a 2.8% cost-of-living adjustment, and for…
Retirees who reach age 73 must begin pulling required minimum distributions from traditional IRAs and most workplace retirement plans, whether or not they need the money for living expenses. Skipping those withdrawals triggers an excise tax, while taking them can quietly inflate tax bills, push more Social Security benefits into taxable territory, and raise Medicare…
About 11,000 baby boomers turn 65 every day in the United States, a demographic surge that researchers have labeled the “peak 65” phenomenon. That wave is colliding with thin retirement savings, strained federal trust funds, and a labor market where millions of older Americans already work reduced hours to stay afloat. The question facing this…
Federal data now shows that 38.2 million Americans provided unpaid eldercare in the 2023-2024 period, with the heaviest burden falling on workers aged 55 to 64 who are simultaneously approaching retirement. Lawmakers in Congress have responded with proposed legislation that would grant Social Security credits to caregivers, but the measures have not become law, leaving…
A new survey of 8,750 U.S. adults finds that four in ten Americans are not confident they will have enough savings to retire or believe they will never be able to retire at all. That finding, released by the Pew Research Center, lands at a moment when federal projections show Social Security’s combined trust funds…
For workers approaching retirement with a traditional pension, few decisions carry as much long-term financial weight as the choice between a lump-sum payout and a monthly annuity. One option delivers a large check upfront, while the other guarantees income for life. The stakes are high because, once a retiree accepts the first payment under either…