Author: Money Mechanics

Key Takeaways The average 401(k) balance for people in their 60s was $568,040 in June 2025. The median amount saved was much lower, at $188,792. How much you need to have saved for retirement will depend on your lifestyle and annual spending expectations. One rule of thumb is to save eight times your annual preretirement income by age 60. You can boost your savings by downsizing now instead of in retirement, taking advantage of higher catch-up contributions in your 60s, and reallocating assets to prioritize growth. When you hit your 60s and retirement is right around the corner, you might…

Key Takeaways Cloud computing and software provider Oracle on Tuesday reported its backlog grew to $455 billion last quarter, a 359% increase from the prior year.The company’s pipeline signaled artificial intelligence spending should remain strong for several years, sending Oracle shares sharply higher and boosting the majority of AI stocks.Wall Street analysts expressed shock on Oracle’s earnings call Tuesday, with one calling the company’s growth forecasts “truly historic.” The artificial intelligence trade got a shot of adrenaline on Wednesday after results from database software and cloud provider Oracle suggested the AI spending bonanza has ample room to run.  Oracle (ORCL)…

Key Takeaways A new survey found that about 1 in 5 Americans said they’ve lost more than $100 by following financial advice generated by an artificial intelligence (AI) chatbot.Applying broad financial information from an AI model to your specific financial situation is risky, one financial advisor said.Models sometimes provide outdated information, such as when tax laws change, or even hallucinate data that doesn’t exist. Some investors are turning to ChatGPT and other AI chatbots to help them manage their finances, rather than sitting down with a certified financial planner (CFP). But is that a good idea? A new survey from…

Subscribe Now: Apple Podcasts / Spotify / PlayerFM  The wealth management industry finds itself facing a cascading wave of wealth transfer, A.I. disruption, and a never-ending conveyor belt of product choices. That’s why thousands of them flock to the Future Proof Wealth Festival in Huntington Beach, California every September. Here they learn how to fortify their practices, learn from each other and find ways to survive and thrive in an increasingly challenging industry. The Express rolls in on the boardwalk, and Dave Nadig, the ETF Wizard and president of ETF.com, drops in. On this week’s podcast, Dave Nadig of ETF.com joins the Express. Javier Ghersi /…

General Dynamics GD has outperformed the market over the past 5 years by 3.45% on an annualized basis producing an average annual return of 17.35%. Currently, General Dynamics has a market capitalization of $86.70 billion. Buying $1000 In GD: If an investor had bought $1000 of GD stock 5 years ago, it would be worth $2,190.62 today based on a price of $323.05 for GD at the time of writing.General Dynamics’s Performance Over Last 5 YearsFinally — what’s the point of all this? The key insight to take from this article is to note how much of a difference compounded…

Inflation continues to be a worry for many investors. A variety of inflationary measures continue to run hot and above the Fed’s 2% target. Meanwhile, tariff worries and supply chain changes have the potential to keep the invisible hand of rising prices growing in the quarters ahead. For many investors, fighting inflation has become a full-time job. But it doesn’t have to be. There is one boring asset class that actually holds its own when it come to inflationary environments. It turns out that staid municipal bonds have managed to outperform in periods of high and steady inflation. Thanks to…

Customers look over clothing items displayed on April 18, 2025 at a Costco branch in Niantic, Connecticut. Robert Nickelsberg | Getty ImagesThe producer price index, a gauge of costs at the wholesale level in the U.S. economy, posted an unexpected 0.1% decline in August. Here’s what to know:For the third time this year, the PPI showed outright deflation in what is generally considered a measure of pipeline price pressures. Wall Street economists had been looking for a 0.3% increase. The core PPI, which strips out food and energy, also fell 0.1% though core minus trade services actually rose 0.3%The tame…

Jason Hiner/ZDNETFollow ZDNET: Add us as a preferred source on Google.Apple pulled back the curtain on its latest product lineup during its “Awe Dropping” keynote in Cupertino this week. The hour-long event revealed a host of new products, including the iPhone 17 series, Apple Watch Series 11, Apple Watch Ultra 3, and AirPods Pro 3. ZDNET was on-site to cover the announcements, and we’ve compiled a summary of the biggest news from the event. We’ll continue to provide updates as we get them.What major products were announced?iPhone 17 series: Apple kicked things off with the standard iPhone 17 for $799, which now features a 120Hz ProMotion…

KEY TAKEAWAYS A federal judge has temporarily blocked President Donald Trump from removing Lisa Cook from the Federal Reserve Board of Governors, allowing her to continue serving at the central bank while her lawsuit contesting her firing proceeds.The move means that Cook, who Trump had fired for allegedly falsifying her mortgage documents, will likely remain on the board for the Fed’s Sept. 16-17 meeting.The White House said the judge’s “ruling will not be the last say on the matter,” indicating the Trump Administration may appeal the Judge’s blocking of Cook’s firing. A federal judge has temporarily blocked President Donald Trump…

Key Takeaways Klarna shares ended their first trading session at $45.82—above the $40 price included in its initial public offering.Shares hit the market Wednesday afternoon at $52, rising above $57 and slipping below $46 during the day.Klarna has a market capitalization of $17.5 billion based on closing prices. Shares of Klarna, a leading buy now, pay later firm, finished their first trading session Wednesday above their IPO price. The fintech company late Tuesday announced the sale of 34.4 million shares at $40 apiece in the closely-watched initial public offering. The stock, which trades using the ticker “KLAR,” opened at $52,…