Good morning. Fear is dominating the headlines right now — but today's stories are about cutting through it and seeing your financial picture more clearly.

On The Money Today:

  • Think you're a rich retiree? Your net worth might say otherwise

  • Long-term care is more likely than you think — and Medicare won't save you

  • Bill Ackman says the panic is creating one of the best buying opportunities in years

Let’s get into it.

Think you're a rich retiree? You might actually be upper middle class

Plenty of retirees assume a comfortable nest egg puts them in the wealthy category — but Federal Reserve data suggests the bar for "rich" is much higher than most people expect. The number that actually separates upper middle class from truly wealthy retirees may surprise you, and the gap has real consequences for how much financial wiggle room you actually have in retirement. Plus, find out what moves retirees can make to close that gap.

Find Out Where You Actually Stand

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Do you really need long-term care insurance? Here's what the data says

Most retirees assume they won't need long-term care — or that Medicare will cover it if they do. The data tells a very different story, and the cost of being wrong can wipe out decades of savings. With only a small fraction of Americans currently covered, this is one retirement risk that's flying well under the radar.

What the Numbers Show

Billionaire hedge fund manager Bill Ackman says the panic is creating one of the best buying opportunities in years

While most investors are heading for the exits, Ackman is doing the opposite. The Pershing Square founder says fear and macro noise are pushing quality companies to "extremely cheap" prices — and he's named specific stocks he believes the market has badly mispriced. He's made bold predictions about how far they could run, and one of the most celebrated contrarian investors alive just publicly backed his thesis.

See Which Stocks He's Calling Out

MORE FROM MONEYWISE

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NEWS — The Trump administration just gave a surprise lift to Medicare Advantage — and it could affect what seniors pay out of pocket in 2027

NEWS — A Dallas man promised investors big returns flipping concert tickets — what he did with their $1 million instead landed him in federal prison

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

Today’s newsletter was written by Shirley Sze and edited by Rudro Chakrabarti. Stories by Mike Crisolago, Monique Danao, Vishesh Raisinghani, Rebecca Payne, Jessica Wong, Eric Esposito and Dave Smith.

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