Author: Money Mechanics

Key Takeaways Business owners with employees earn a median of $110,000, while solo owners make only a median of $24,000.New businesses usually lose money or break even for 18-24 months before profit kicks in.Entrepreneurs past age 55 earn 70% more than salaried employees if they stick with it. According to Clayton Caggiano, an Assistant Vice President and Business Development Associate at Morgan Stanley who works with entrepreneurs regularly, founders face several obstacles. For example, you have to be “okay forgoing the salary for an ultimate payoff (which also isn’t guaranteed),” he said. That uncertainty explains why figuring out whether you’re…

(Oil Price) – Saudi oil giant Aramco expects AI and other advanced technology to have helped it achieve in 2025 a technology realized value of between $3 billion and $5 billion, chief executive Amin Nasser said on Tuesday. The world’s biggest oil firm in both production and market capitalization had total realized technology value of $6 billion in the period 2023-2024, the executive said at the World Economic Forum in Davos, Switzerland. Through increased use of AI and other advanced tech, Aramco realizes savings in drilling costs, well productivity, and maintenance costs. “We want the energy industry to be more intelligent in capitalizing…

Key Takeaways The average 401(k) balance for 50-year-olds provides a helpful benchmark for retirement planning, but the numbers vary by plan provider.By 50, aim to have five to six times your annual income saved, according to Fidelity and T. Rowe Price. The average 401(k) account balance for people in their 50s ranges from $188,643 to $635,320, depending on which retirement plan provider’s data you look at. Though circumstances vary, these benchmarks can help show where you stand. People in their 50s are generally in the last full decade of work, given that 62 is the average retirement age in the…

Key Takeaways According to many financial planners, you won’t have as many expenses in retirement as you did before you retire. Instead, they say, you’ll need about 70% to 80% of your pre-retirement income to maintain your lifestyle in retirement. For the median U.S. household income ($83,730), you’d need about $5,233 per month in retirement. Using the 4% rule, that means that you’d need to save $1.57 million in total. When preparing for retirement, you’re probably wondering, will I have enough? To answer this, you’ll need to know a few key numbers. First, how much money will you need per…

Key Takeaways In 2023, according to the latest data available, people age 65 and older spent an average of $60,087 per year, or about $5,000 per month. The largest spending categories were housing, clocking in at $1,787 per month, transportation ($752.75), healthcare ($668.92), and food ($642.84). Spending also included an average of $241.50 per month on entertainment, such as shows, sporting events, club memberships, camping, and pets. Comparison is often called the thief of joy, but when it comes to retirement, it can be a valuable tool, helping you understand how much you might need to save and spend in…

Key Takeaways Clients commonly ask whether they can send a one-time or ongoing financial gift to an adult child or loved one.The impact of financial help depends entirely on the client’s overall situation and needs to be re-evaluated regularly.Non-financial support can sometimes be more helpful—and more sustainable—than writing a check.Thoughtful, respectful conversations about financial support can uncover options Many of my clients are in midlife and beyond. Often, a conversation that arises centers on their family members and ensuring they are financially stable.  It’s natural for clients to offer some financial support to their loved ones, whether adult children who…

Key Takeaways Side hustles are getting more popular because they help you make extra money and can fit around your busy schedule.With ChatGPT, you can make some extra income without advanced skills.ChatGPT opens the door to a wide range of beginner-friendly income opportunities, including tutoring, virtual assistance, content writing, and social media management. Working a side hustle to earn extra income has never been more common and accessible than it is now. As the cost of living continues to rise, more people are turning to tools like ChatGPT to work smarter, streamline everyday tasks, and generate extra income without adding…

Key Takeaways Panama tops International Living’s 2025 Global Retirement Index, offering an easy Pensionado visa, dollarized economy, and broad retiree discounts.Mexico ranks in the top 25 worldwide for retirement finances in the 2025 Natixis Global Retirement Index, thanks to its affordable healthcare, proximity to the U.S., and well-established retiree hubs.Ecuador, Colombia, and Peru deliver some of the lowest costs of living and most accessible pension visas in Latin America, where a typical $2,000 monthly Social Security check can comfortably cover housing, healthcare, and everyday expenses. Your Social Security check will reach a average of $2,056 come 2026. Head south, though,…

Saks Global, the parent company of the historic luxury department store Saks Fifth Avenue, recently filed for Chapter 11 bankruptcy protection. The move occurred a little more than a year after the company purchased Neiman Marcus and Bergdorf Goodman in a debt-fuelled takeover. The FT’s Wall Street editor Sujeet Indap and the US investment editor Eric Platt walk through how that acquisition played a role in the bankruptcy and whether more highly leveraged companies will seek bankruptcy protection in 2026. Clips from ABC, Bloomberg, CNBC, Warner Brothers The FT does not use generative AI to voice its podcasts.- – -…

With Silver prices reaching new highs almost daily, one might wonder, how high can silver go? Well, if 1980 is any indication, based on inflation-adjusted prices, it still has a ways to go. Back then, Billionaire Oil tycoons Nelson Bunker Hunt and his two brothers, William Herbert Hunt and Lamar Hunt, decided there wasn’t enough Silver to go around, so they began buying silver. Today, JPMorgan is trying to do the same.  In response, COMEX has raised margin requirements (which broke the Hunt’s stranglehold in 1980), but may not work this time. We’ve created a chart and table of historical silver prices…