Author: Money Mechanics

Key Takeaways Americans ages 65–74 have a median net worth of $410,000, the highest of any age group.About 76% own a home and 51% have a retirement account, making home equity and savings the biggest drivers of wealth at this stage.Debt is less common but still present, with roughly 65% carrying some debt and about a third holding a credit card balance. How Wealthy Are Americans Ages 65–74? Americans ages 65–74 are typically in retirement or just a few years removed from full-time work, making this a key moment to assess how wealth looks once paychecks have largely stopped. For…

Brookfield Corporation sits at the intersection of several global investment megatrends. The company is in an ideal position to capitalize on the AI infrastructure opportunity. It expects to grow its earnings briskly over the next five years. 10 stocks we like better than Brookfield Corporation › I own over 100 stocks. I like to have a well-diversified portfolio. I also often take a basket approach to investing in a specific theme rather than attempting to uncover the one company that will deliver the best returns in a given trend. However, if I could only buy and hold a single stock,…

There has not been much use writing about the precious metals rally lately because, why add to the noise? The time for making noise was back in the spring when the / ratio topped (Silver/Gold bottomed) and we prepared for a stronger rally in the precious metals, this time led by silver, and also including the wider “inflation trades”. Now we look ahead in a very different way.SilverMovie poster for ’Superstar: Dare to Dream’ featuring a woman in a schoolgirl outfit and a man in a blazer, both striking a dramatic pose. Let’s start with the superstar of the rally.…

Elon Musk wants a jaw-dropping $79 billion to $134 billion in damages from OpenAI and Microsoft, claiming the AI company defrauded him by jettisoning its nonprofit mission, Bloomberg first reported. The figure comes from expert witness C. Paul Wazzan, a financial economist whose bio says he has been deposed nearly 100 times and testified at trial more than a dozen times in complex commercial litigation cases. Wazzan, who specializes in valuation and damages calculations in high-stakes disputes, determined that Musk is entitled to a hefty portion of OpenAI’s current $500 billion valuation based on his $38 million seed donation when…

Key Takeaways Jobs platform Indeed released its list of the top 50 best jobs for 2026.Heath care, the trades and technology are three of the fields that dominated the lineup.The top 10 jobs all command a median annual salary of $100,000. As artificial intelligence eats into demand for some roles, a new report suggests a bright spot: Some of the most in-demand jobs of the year are still very much people-dependent. Seven of the top 10 spots on Indeed’s 50 Best Jobs in the U.S. for 2026 ranking are in health care-related fields. Most of them are rely on human-to-human interaction.…

Key Takeaways Spotify this week said it plans to raise the cost of its paid subscription offerings in the U.S. starting next month.The move comes after a number of other streaming services also announced price hikes in recent months. Listening to music could be about to get a little bit more expensive for millions of people. Spotify (SPOT) said earlier this week that it plans to raise the prices of its paid subscription offerings in the U.S. by $1 to $2 starting next month. That will bring the cost of an individual plan up to $12.99 per month, $18.99 for…

This WeekGeopolitics were front and center this week, so economic data (understandably) was overshadowed. But it was a pretty good week in data:Headline CPI (2.7% YoY) and core CPI (2.6% YoY) were both unchanged in December, as tariff-related inflation appears to have slowed, with the contribution from core goods unchanged from November and down slightly from its recent highs in August and September.Retail sales (+0.6% m/m) rebounded in November on broad-based gains.Manufacturing output (+0.2% m/m) rose more than expected (-0.1%) in December.That stable inflation and resilient spending and production data meant market expectations for Fed rate cuts this year fell…

Key Takeaways Retailers are sorting through a sea of AI tools and possible uses for technology that consumers will want to use, said Daniel Danker, executive vice president of AI acceleration, project and design at Walmart.He said a few uses seem particularly promising, such as having apparel displayed on images of the shopper, rather than models. Some AI tools beg the question: who asked for this? In the rush to capitalize on artificial intelligence, companies have released a myriad of “agentic commerce” tools that aim to revolutionize shopping. (Agentic commerce refers to AI agents performing tasks, such as comparing prices…

Thank you, President Hasner, for the kind introduction. It is an honor to speak at Florida Atlantic University, and I am glad to have the chance to talk with those here from the American Institute for Economic Research and the Shadow Open Market Committee. I especially appreciate the opportunity to discuss my economic outlook at the start of the new year. It is a task made considerably easier with the gradual return of federal government data, which was disrupted by last year’s lapse in funding. The lack of data reinforced two long-held beliefs for me. One, how grateful I am…

Although it is paradise on Earth, Hawaii, in 2026, is one of the priciest states to live in in America. Because of high rent and imported goods, many people are in debt from using credit cards and personal loans. This guide breaks down Hawaii-specific debt relief options and explains how they differ from states like Texas and California. Why Is Debt Relief Different in Hawaii Compared to Other States? Hawaii’s sky-high living costs—193.3 index—pile on credit card debt faster than mainland states like California or Texas. Remote islands mean fewer local offices, forcing reliance on nationwide programs. Discover tailored debt…