Author: Money Mechanics

Key Takeaways Only 3.2% of retirees have $1 million in retirement accounts vs. about 2.6% of Americans in general. The average retirement savings for households aged 65-74 is $609,000, while the median is only about $200,000. The number of “401(k) millionaires” in America reached a record of about 497,000 last year. Many Americans dream of retiring with a million-dollar nest egg —Americans in general think you need about $1.5 million to retire—but the reality is starkly different. Using figures from the U.S. Federal Reserve’s Survey of Consumer Finances (updated to 2022 but released in 2025), only about 2.5% of all…

Key Takeaways Wall Street analysts highlighted Super Micro Computer, Dell Technologies and Astera Labs as some of the stocks that could gain from an OpenAI deal with Advanced Micro Devices.Several analysts suggested AMD’s deal could be taken as a positive signal for the semiconductor sector and AI trade broadly, though they pointed to some of AMD’s networking partners as more direct beneficiaries. Advanced Micro Devices (AMD) has a number of partners that could be set to benefit from its big deal with OpenAI, according to Wall Street analysts. The ChatGPT maker committed to buying several generations of AMD’s AI chips,…

Time Monthly Deposit Annual Return* Ending Balance 40 years $200 7.00% $492,249 30 years $200 7.00% $233,205 *Compounding monthly The key is to start saving and investing as soon as you can. Once you do, set a goal to increase your contributions as your income grows. Time and consistency are more powerful than chasing the highest-paying job or timing the market. 2. Automate Your Savings and Use Tax-Advantaged Accounts Instead of saving whatever money you have left at the end of the month, automate your savings so that money goes directly into your retirement account before it hits your checking…

Key Takeaways Tesla on Tuesday afternoon announced lower-priced versions of its Model 3 and Y vehicles, with both sporting starting price tags below $40,000.The shares finished the day lower, perhaps indicating a hope the cars would’ve been cheaper. Cheaper Teslas have arrived. But are they cheap enough? The electric vehicle maker on Tuesday afternoon announced its “most affordable vehicles” on X, revealing Standard versions of its Model 3 and Y vehicles. The vehicles are available for order on the company’s website, with the 3 starting at around $35,000 and the Y near $38,000. Both models advertise a range of 321…

Key Takeaways Gold traded above $4,000 an ounce for the first time on Tuesday, underscoring strong demand from investors hedging against risk and chasing the precious metal’s momentum. Some analysts have linked gold’s gains to a “debasement trade,” in which investors buy the traditional safe-haven asset as a hedge against waning faith in the integrity of the U.S. dollar and Treasurys, two pillars of the global financial system.Goldman Sachs on Monday raised its gold price forecast, and researchers at the World Gold Council expressed confidence that the dynamics driving gold prices higher will persist. Gold hit $4,000 an ounce for…

Key Takeaways The government shutdown is delaying key economic reports that the Federal Reserve normally uses to guide interest rate decisions. The Fed’s Oct. 28–29 meeting is still expected to proceed, since the central bank is funded independently and can utilize private-sector data when government sources are unavailable. Savers can still benefit from today’s elevated yields, with the top savings accounts and best CDs offering returns of 4%–5%. But don’t delay, as rates will fall if the Fed moves ahead with more cuts. The full article continues below these offers from our partners. Key Fed Data Could Go Dark During…

Portrait of senior husband and wife in front of suburban homegettyA recent column in The Washington Post by housing finance expert Jim Parrott placed much of the blame for the current housing shortage on a tax that, he argued, discourages older adults from selling their homes.I’m glad Parrott raised the important issue of seniors staying in their homes as they age. But his diagnosis is largely wrong. Tax law may play a small part in their unwillingness to move, but there are much bigger reasons that families, and policymakers, need to confront.More important than taxes: The absence of affordable, accessible,…

Key Takeaways Government shutdowns have been known to dampen yields on 10-year Treasuries and potentially demand for mortgages, which could lower rates. However, the opposite could also happen, with a lot depending on how long the shutdown and economic data blackout lasts as well as on a host of unpredictable variables. Predicting mortgage rates is extremely hard. Buy when you’re financially ready and find a house that’s a good fit. You can always refinance later. The full article continues below these offers from our partners. The U.S. government shutdown could impact the cost of mortgages, especially if the Republicans’ and…

Your home office can be a sanctuary — a place to escape noise and focus on your favorite projects. However, it works best when the space is comfortable and functional.That’s why, if you’re considering upgrades for your home office, now is an excellent time to do so. Many retailers are offering sales this week, from Amazon Prime Big Deal Days to Walmart Deals.As a deals writer with years of experience, I can help you find the best deals available, considering both price and quality. Additionally, I’ll show you which home office upgrades also qualify for tax credits. From just $107.88…

Key Takeaways An EV leader saw its stock drop on Tuesday, Oct. 7, 2025, after announcing lower-cost models, while a chipmaker added to its gains in the wake of a massive AI deal.Tesla shares slid after the company rolled out cheaper models that analysts said weren’t as cheap as they had hoped. Shares of Advanced Micro Devices added to yesterday’s gains on a big partnership with OpenAI. Shares of the world’s most valuable electric vehicle maker slumped on Tuesday, Oct. 7, 2025, after revealing lower-cost models, while a chipmaker added to its gains in the wake of a massive AI…