ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Daniel de Visé | Personal Finance Reporter
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Good morning! It's Daniel de Visé with your Daily Money. |
Millions of Americans struggle to afford basics like food and rent. A new study spearheaded by the CEO of ChatGPT's parent company shows that regular, unconditional cash payments could help. |
A three-year study from OpenResearch, a nonprofit backed by OpenAI CEO Sam Altman, examined the effects of a no-strings-attached $1,000-per-month cash transfer on recipients' health, employment and spending. It's the latest and largest study of its kind to show how unconditional cash could help lower-income families meet basic needs like food and housing. |
Navigating the retirement surge |
How will baby boomers retiring affect the economy? |
A historic inflation spike is easing, but there's a powerful force that's likely to keep wage and price increases higher than normal over the next few years: baby boomer retirements. |
A record 4.1 million Americans are set to turn 65 this year and each year through 2027, Paul Davidson reports. Although not all of those boomers will hang it up, the surge of freshly-minted 65-year-olds – known as "peak 65" – will likely mean record retirements, as well. |
Should retirees own a home? |
Age-old wisdom instructs that a home is a good investment for Americans of any age. But what if you are retired and still paying it off? |
More Americans are entering retirement with mortgaged homes, and the average balance of those loans is rising. |
The share of Americans ages 75 and over who are carrying mortgage debt has risen steadily for decades, according to the federal Survey of Consumer Finances: from 5% in 1995 to a historic high of 25% in 2022. The amount those homeowners owe has risen apace, from a median $14,000 in 1995 to $102,000 in 2022. |
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Each weekday, The Daily Money delivers the best consumer and financial news from USA TODAY, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you. |
Daniel de Visé covers personal finance for USA Today. | | | | A study from a research organization backed by OpenAI CEO Sam Altman, examined the effects of giving people $1,000 per month, no strings attached. | | | |  | A historic retirement spike is expected this year as a record 4.1 million Americans turn 65. The wave is likely to hurt some industries more than others | | | | Is it a bad idea for retirees to own homes? Research shows anyone who takes a mortgage into retirement could be in trouble | | | | Kamala Harris is the latest target of the weaponization of DEI, a term used against Black women in positions of power in politics and the workplace. | | | | The survey also found that a higher percentage of Generation Z survey respondents said they are likely to quit their job this year, compared to older age groups. | | | | A bidder organized and controlled by Fortress Credit Corporation is on track to be the chain's new owner. | | | | Delta is still struggling to recover from last week's CrowdStrike outage. Here's why its own computer systems may be partly to blame. | | | | You don't have to leave the house or spend a lot of money to explore some of the best galleries in the world. | | | | Kamala Harris' economic plan would look similar to President Biden's, analysts say. She could be more aggressive on antitrust, consumer protection. | | | | Are consumers ultimately helped or hurt with new credit-building products designed to boost credit? | | | | |  | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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