Good morning. The first-ever collaboration between LEGO and Pokémon is selling out incredibly fast. That might be for the best: If you want to catch 'em all, getting the 7,000-piece set featuring fan-favorites Charizard, Venusaur and Blastoise will run you $650.
■ News
California’s billionaire ‘exodus’ has pushed $1T in wealth out of state, warns famed VC. Build wealth like the super rich (no matter where you live)
The threat of a new billionaire tax in California has triggered a wave of wealthy residents heading for the exits. And according to famed venture capitalist Chamath Palihapitiya, that exodus won’t slow down as long as the proposal remains on the table — with potentially severe repercussions for everyone else who calls California home.
“More calls from friends. The total wealth that has left California is now $1T,” Palihapitiya wrote in a recent post on X.
“We had $2T of billionaire wealth just a few weeks ago. Now, 50% of that wealth has left — taking their income tax revenue, sales tax revenue, real estate tax revenue and all their staffs (and their salaries and income taxes) with them.”
If enacted, the proposal would impose a one-time 5% tax on the wealth of the state’s billionaires. According to the California attorney general’s summary of the initiative, revenue would “probably” add up to tens of billions of dollars spread over several years.
Palihapitiya sees things very differently: “Unless this ballot initiative is pulled, we will not stop the billionaire exodus. With no rich people left in California, the middle class will have to foot the bill.”
■ Trivia
Every American bill has an average lifespan before it is destroyed and removed from circulation. What is the average lifespan of a US $1 bill?
A 5.4 years
B 7.2 years
C 10.5 years
D 15.2 years
Scroll for the answer
■ Retirement
Here’s the retirement savings you need to spend $10,000/month at age 55, 62 and 65. Can you retire in 2026?
Retiring early is popular for good reason. If you hit your financial targets early, why not step away from work and long commutes to spend more time with friends and family?
Nearly one in five U.S. adults say they want to retire before the age of 55, according to the data analytics company YouGov.
But the math is unforgiving.
Retiring at 55 instead of 62 or 65 dramatically increases the amount of money you need to finance your retirement because you’re too young to access two major safety nets — Social Security and Medicare.
Here’s a closer look at how much you need to save to retire early and why delaying could lower the barrier to entry.
■ SPONSORED BY GEMINI
Build your crypto confidence with a free $20 boost
A lot of older Americans are curious about Bitcoin, but find it daunting and aren’t sure where to begin. Gemini is your safe and secure starting point.
Gemini is a fully licensed crypto platform that operates in all 50 states. Whether you’re brand-new or a seasoned investor, Gemini gives you trusted tools to buy, sell, and store over 70 cryptocurrencies.
And with Gemini’s ActiveTrader platform, you’ll have access to advanced charts and features to help you trade like a pro.
Best of all, when you sign up and trade $100, you’ll get $20 in Bitcoin for free.
Crypto doesn’t have to be complicated — start trading today.
■ Retirement
It’s been one year since the LA wildfires destroyed thousands of homes, but fewer than a dozen have been fully rebuilt. What’s taking so long?
More than a year after walls of flame tore through the Los Angeles-area towns of Pacific Palisades and Altadena, the scars are still everywhere.
Vacant dirt lots stretch to the coastline. Streets go dark at night. And for thousands of families, the idea of “going home” remains out of reach.
Wildfires that erupted across the L.A. region on Jan. 7, 2025 killed at least 31 people and destroyed more than 16,000 buildings. While hundreds of homes are under construction or in planning, fewer than a dozen have been fully rebuilt and reoccupied. While debris has been cleared and permits approved, most survivors remain stuck financially, legally and emotionally.
The slow recovery exposes a harsh reality: rebuilding after a disaster is as much about insurance gaps, cash flow and rising costs as it is about construction.
■ More Moneywise
Health: Retiring early? Ignoring this number could see you overpaying for health care every single year. (Medicare doesn’t even matter)
Real estate: ‘Wannabe real estate moguls’ bet big on this once-obscure loan type during the pandemic. Now many of them stand to lose their investments
Crime: This 71-year-old woman kept feeding money into crypto ATM at fraudsters' request, even as police told her it was a scam
Managing money: Morningstar says these 4 ‘good enough’ money moves can deliver wealth-building results like the rich — fast. Will they work for you in 2026?
■ Trivia Answer
Every American bill has an average lifespan before it is destroyed and taken out of circulation. What is the average lifespan of a US $1 bill?
B) 7.2 years
While the average $1 bill doesn’t stay in circulation very long, this denomination actually has a longer shelf life than both the $5 and $10 bills, which have an average lifespan of 5.8 and 5.7 years, respectively. The $100 bill, however, has an average lifespan of 24 years.