American financial services company, one of the world's largest asset managers
A wave of new surveys shows Americans face higher retirement costs and uncertainty about Social Security solvency. People are saving less than they think they’ll need, inflation and healthcare costs are rising, and many expect to work longer or rely on savings strategies to bridge the gap.
A new Empower analysis shows Americans’ net worth rises with age, reaching into the trillions for Silent and Baby Boomer generations. Younger generations trail, though 401(k) saving and IRA contributions are increasing. The shift signals a historic intergenerational wealth transfer that funds consumption and retirement across decades.
Investors in Wondermind Global allege Selena Gomez and co-founders misrepresented infrastructure, partnerships and app development, prompting a Delaware federal lawsuit seeking recovery of about $1.2 million in investments. Gomez’s representatives deny the claims as meritless.
Fidelity Investments reports a 19% quarterly jump in 401(k) accounts with balances of at least $1 million, reaching 769,000. The rise follows a strong stock market, with the S&P 500 up about 15% in Q2, while average retirement balances and savings rates remain high. Despite gains, seven-figure balances remain uncommon and retirement confidence is mixed.
Independent reports that experts advise parents to use Junior ISAs rather than Premium Bonds, with guidance on cash vs stocks and shares JISAs, annual limits, and potential returns; examples include Santander 123 Mini bonuses and practical tips from Holly Mackay of Boring Money.