Central bank warns households to keep this much cash at home

Good morning. BlackRock says many retirees may be missing a strategy that could help stretch their savings. Meanwhile, Trump’s proposed tariffs could push gas prices higher — and European central banks want households holding more emergency cash.

Here’s what you need to know:
• The retirement strategy BlackRock says could extend your savings
• Why tariffs could drive up gas prices
• Why central banks want households to keep more cash on hand

For decades, low-cost index funds have been the backbone of retirement investing. But BlackRock — the world’s largest asset manager — now says relying on an S&P 500 buy-and-hold strategy alone may no longer be enough as markets grow more concentrated and retirements last longer.

The firm argues investors may need portfolios designed to generate steady income — a potential shift toward a “paycheck for life” approach in retirement.

With millions of Americans worried about outliving their savings, strategies that create a reliable retirement income stream could help stretch limited nest eggs.

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Car insurance costs have surged 38% between 2020 and 2024, meaning many drivers may be overpaying because they don’t compare rates.

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Gas prices have surged past $3.40 a gallon just days after President Trump touted cheap fuel — following U.S. and Israeli strikes on Iran that sent oil prices soaring. Despite the spike, Trump says he’s not worried, insisting the military operation is “far more important” than higher pump prices.

But with oil jumping more than 35% in a week and fears of supply disruptions growing, economists warn the impact could ripple far beyond the gas station — hitting groceries, inflation and interest rates.

A major European central bank is urging adults to keep about a week’s worth of cash at home to prepare for possible payment outages during crises — or even war. The warning comes as many countries become increasingly cashless, raising concerns about what happens if digital systems go down.

If electronic payments fail, having physical cash on hand could help households cover basic expenses until systems are restored. Here’s what experts say households should consider doing now.

That’s it for today. See you soon with another quick roundup of the financial news that matters.