August 12, 2026, 7:59 AM ET Key takeaways A cash-out refinance can pay off your high-interest credit card or personal loan debt, rolling multiple monthly payments into your mortgage payment. A cash-out refinance may make more sense when your current mortgage rate is close to today’s refinance rates. The total cost to refinance a mortgage typically ranges from 3% to 6% of the loan principal. Credit card debt is unsecured—but once you roll it into a mortgage, that changes. If you fall behind on

August 13, 2026, 6:42 AM ET Nvidia CEO Jensen Huang. Apparently, the PTA has a better portfolio than you. Silicon Valley private schools are trading silent auctions for cap tables with a handful of Bay Area campuses now running miniature venture funds steered by parent-investors from Sequoia, Lightspeed, and Battery. The programs have become somewhat of Silicon Valley lore, Fortune’s Amanda Gerut writes. Saint Francis High School’s parent-run growth fund turned a $15,000 bet on Snap into roughly

August 13, 2026, 11:56 AM ET Best-selling author Malcolm Gladwell argues that growing up with some financial and educational disadvantages can actually better prepare children for success. Adam Berry/Getty Images for iHeartMedia Being part of a millionaire—or even billionaire—family might sound like a dream. But according to Malcolm Gladwell, extreme wealth can actually rob children of something important: the motivation to succeed on their own. “I would rather have a dad who made $100,000 than

August 14, 2026, 9:02 AM ET Treasury Secretary Scott Bessent (2nd-R) and Secretary of War Pete Hegseth (R) attend a meeting with U.S. President Donald Trump (L) and Prime Minister of Iraq Ali al-Zaidi in the Oval Office of the White House on July 14, 2026 in Washington, DC. Social Security is celebrating its 91st birthday Friday—yet a prominent fiscal watchdog is warning that, without congressional action, the program in its current form may not survive to its centennial. The Committee for a

A supercharged U.S. economy has helped transform a nation of homebodies into zealous international travelers; ‘Travel isn’t optional’

They lose billions in months and hold quarterly board meetings with their children—inside the high-stakes, high-reward mindset of the ultrawealthy

Lisa Johnson, 49, from Bedfordshire, knows exactly what it feels like to struggle financially, after finding herself £35,000 in debt following her divorce in 2014.

Giant American tech corporations are funding the “largest investment surge in history”, says The Economist. Last year they spent $450bn on AI-related chips, data centres, power and so forth, with plans for another $900bn this year and $1.4trn in 2027. Yet it remains to be seen whether these vast investments can generate a return. The current scale of spending will only be justified if AI eventually turns into a $2.5trn per year industry. It’s current value? “Roughly $150bn a year” – quite a gap.

Annuities offer another income stream to help fund your golden years and may reduce the risk of running out of retirement savings. However, it’s important to recognize that purchasing an annuity may be more expensive than other forms of retirement income.

Even if you don’t earn a high salary, you can build a high net worth by saving consistently. Automate your savings and pay yourself first. Avoiding lifestyle creep is also powerful: as you earn more, don’t needlessly spend more.

Parents can sign their child up for a Trump Account, which converts to a traditional IRA when the child turns 18. Employers can contribute up to $2,500 a year to the Trump Accounts of their workers’ dependent children.

Almost 7 in 10 baby boomers carried debt in 2022, with younger boomers more likely to owe. Mortgages are where this generation owes the most, with a median debt of $116,000 on their primary residence.

The median 401(k) balance is about $161,000 for people in their 40s and roughly $253,000 for those in their 50s. Increasing contributions in your 40s and using catch-up contributions after 50 can help strengthen your retirement savings.

The best farmers market retirement destinations combine strong local agriculture with easy access to lively downtown markets. Year-round markets and longer seasons give retirees more chances to shop for fresh, locally grown food.

Sequence of returns risk can reduce retirement funds quickly, especially if withdrawals coincide with market downturns. Even wealthy investors are vulnerable, as greater spending and legacy goals can amplify the impact of losses.

A $4.5 million portfolio can generate about $135,000 to $180,000 a year using a 3% to 4% withdrawal rate. Social Security could add roughly $38,000 to $51,000 annually, depending on when both spouses claim.

Forty-two states don’t tax Social Security income. Thirty-seven states don’t tax most military retirement pay. Sixteen states exempt pension income from state taxes. Nine states have no income tax. This count includes Washington, which taxes high earners’ capital gains only.