American financial services company and 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 have filed a federal suit alleging Selena Gomez and co-founders failed to deliver on promotion, branding and an app, prompting claims of misrepresentation and financial loss. The case, filed in Delaware, says promises to actively build the platform were not fulfilled, with around $1.2 million invested and legal fees sought.
Fidelity Investments reports a 19% surge in 401(k) accounts holding at least $1 million, reaching 769,000, the highest since late 2023. The rise stems from a strong stock market, consistent saving, and high contribution rates, though most workers remain far from seven figures. Other surveys show ongoing retirement anxiety despite these gains.
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.
Jio Platforms has set an IPO price band and is raising up to 302 billion rupees ($3.2 billion). The anchor book has seen bids worth 2.5 trillion rupees, more than 30 times the anchor allocation, with investors including BlackRock and the Abu Dhabi Investment Authority participating. The listing values Jio at about $108 billion, underlining a broader push by Reliance Industries to expand beyond traditional telecom into tech and satellite services. The IPO opens for public bidding later this week.