Good morning. Some of the biggest financial opportunities — and risks — are easy to overlook. Today's stories reveal where they may be hiding.
On The Money Today:
Behind on retirement? Your 50s may be your best shot to fix it
States are quietly erasing medical debt — you may already qualify
A $3.7B Medicare scam ran for a year before anyone noticed
Let's get into it.
One in five Americans over 50 has nothing saved, but the window isn't closed. The tax code actually works in your favor at this stage, with rules that let you shield more income than younger savers can. The question isn't whether you can catch up — it's which moves actually matter most.
IN PARTNERSHIP WITH MyRacehorse
For generations, racehorse ownership has been reserved for the ultra-wealthy — private stables, deep pockets, insiders only. A platform called MyRacehorse is changing that.
For as little as $100, everyday fans can own a fractional share in a real, professionally trained Thoroughbred. Their horses have competed on racing's biggest stages, including the Kentucky Derby and the Preakness Stakes. You get training updates, race-day access and behind-the-scenes content through the app. MyRacehorse is not about sitting on the sidelines. It is about joining the journey.
MyRacehorse is offering securities only through the use of an Offering Circular that is part of an Offering Statement qualified by the SEC. Find it and general disclosures here: myracehorse.com/disclaimer
States are quietly buying up medical debt and forgiving it entirely — no application, no strings attached. Michigan just erased $74 million for 70,000 residents, and several others have already done the same. The eligibility threshold is lower than most people think.
His alleged operation billed for equipment patients never received, using stolen Medicare numbers that sell for $8 on the dark web. The victims in this case had no idea their numbers were being used to rack up thousands in fake charges until they checked their statements — and prosecutors say $100 billion is drained from Medicare every year this way.
MONEY IQ
What percentage of Americans aged 50 and older have zero retirement savings?
ALSO MAKING THE ROUNDS TODAY
RETIREMENT: Focus on these 3 expenses if you want to retire earlyFocus on these 3 expenses if you want to retire early
MONEY IQ ANSWER: HOW DID YOU DO?
The answer is D) 20%. According to AARP, roughly one in five Americans over 50 has nothing saved for retirement — a sobering figure given that this is also the decade when most people hit their peak earning years. The good news: it's not too late to start.
That's a wrap for today! Before you go, we'd love to know what you thought of today's newsletter. Hit REPLY if you have more to share — we read every one.
See you soon with another quick roundup of the financial news that matters.
