Author: Money Mechanics

KEY TAKEAWAYS About 6.4 million federal student loan borrowers are ages 50 to 61, with the average student loan debt in this group at $48,203.That is the highest average balance out of all other age groups. Get personalized, AI-powered answers built on 27+ years of trusted expertise. Generation X is caught in a financial squeeze. Borrowers aged 50 to 61 carry an average student loan balance of $48,203—more than any other age group—even as many Gen Xers also support aging parents and help their own children pay for college. About 6.4 million federal borrowers fall into this age range, holding…

Inflation will be in the spotlight this week. Two major economic reports on prices are landing just ahead of next week’s key interest rate decision, providing fresh indicators on the cost of living as central bankers debate whether to further lower borrowing costs and investors eye energy prices. Existing-home sales and other housing data comes as economists are watching for improvements in that market. Investors will also be evaluating momentum in the AI and software sectors, with Oracle, Hewlett Packard Enterprise, and Adobe set to report earnings this week. Dollar General leads a string of noteworthy retail earnings, while Tesla’s Chinese…

Key Takeaways Finland is the world’s happiest country, according to the World Happiness Report, offering retirees and others peace, safety, and balance.You can collect U.S. Social Security benefits while living in Finland.Health care is universal, high-quality, and accessible to residents, although private insurance is still an option.The cost of living is a bit less than that in the U.S., but taxes are higher. If you’ve ever dreamed of a peaceful retirement surrounded by nature, Finland might be calling your name. Ranked as the happiest country in the world by Gallup’s World Happiness Report, Finland offers a lifestyle centered on wellbeing,…

(Image credit: Getty Images)Articles about retirement planning often assume the end goal is a carefree life of self-indulgence. Play a few rounds of golf. Enjoy dinner and drinks with friends. Wake up when you want, and call it a night when you please.Nothing wrong with any of that — except many retirees find a devil-may-care lifestyle without any sense of purpose leaves them adrift.In their pre-retirement lives, they were productive, with careers that gave them goals to reach each day and tasks to accomplish. In retirement, they are directionless and bereft of anything that feels like a higher calling. From…

(Image credit: Getty Images)Software stocks are getting annihilated so far this year. That is my highly technical description of companies, like Salesforce and others, many of which are down more than 50% from their highs.The opinion or theory of some: AI is going to make these exorbitant subscriptions unnecessary. I am not naïve enough to think I will be the last man standing as robots power the global economy and my friends have all involuntarily “retired.”But there is one thing that gives me hope about my job security — the never-ending, mind-boggling changes to the Internal Revenue Code. From just…

Key Takeaways The average 401(k) balance for millennials is about $67,300. The median is about $35,000.On average, millennials contribute around 8.7% of their pay to their 401(k)s. Their employers contribute about 4.6% of their pay, on average, for a total savings rate around 13.3%.Experts suggest saving 12%–15% of your pay, including your employer’s match. Anyone claiming millennials are bad with money hasn’t seen the data. The average millennial has a 401(k) balance of $67,300 and is saving about 13% of their income for retirement, which is close to what experts recommend. Here’s what that portfolio actually looks like, and how…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Motor insurers — and their investors — have been pondering existential questions recently: with the impending arrival of self-driving vehicles, will car insurance even exist 20 years from now? Recent updates in the UK, however, were a reminder that there is a more mundane present-day problem: making money from cars that are currently on the road. FTSE 100 group Admiral was one of the first insurers to try forecasting the spread of self-driving cars over the next decade, predicting they would account for…

Mortgage rates have risen as the bond market digested developments in the Middle East. Higher oil prices sparked fears of inflation and bond yields surged. According to the Zillow lender marketplace, the current 30-year fixed rate is 5.98%, up 17 basis points from last weekend. The 15-year fixed rate is up 18 basis points to 5.50%. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 5.98% 20-year fixed: 5.90% 15-year fixed: 5.50% 5/1 ARM: 5.96% 7/1 ARM: 5.70% 30-year VA: 5.52% 15-year VA: 5.24% 5/1 VA: 5.30% Remember, these are the national averages and rounded…

’s surge toward $88 is not just an oil story. Gold and Treasury yields are rising alongside it, an unusual cross-asset pattern that suggests markets are pricing inflation risk even as growth concerns build. $88 Brent Crude Near 2024 high +20% Since Strike Feb 28 → Mar 7 Day 7 ME Conflict No ceasefire $5,131 Gold Edging higher ↓ S&P 500 Fut. Modest decline ↓ Europe Edged lower ↑ Asia Recovery gains 50K NFP Forecast 8:30am ET today Brent at $88: Mechanism Behind the MoveBrent crude reached $88 a barrel on Friday, its highest close since mid-2024 and its largest…

Weekly pending sales Pending home sales data provides a week-to-week perspective, though results can be affected by holidays and short-term fluctuations, such as the giant winter storm in January. We were showing year-over-year growth at the start of the year, and then the snowstorm slowed things down. Now that all the snow data is gone, we have three straight weeks of year-over-year growth, which should be the case given that mortgage rates have been under 6.25% all year long.  Weekly pending sales last week over the last two years: 2026: 66,127 2025: 63,508 Mortgage purchase application data Purchase application data…