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In a recent conversation on her podcast, <a href="https://www.benzinga.com/personal-finance/25/01/42834090/should-i-cash-out-my-annuity-suze-orman-reveals-why-this-listeners-investment-isnt-as-good-as-it-seems">Suze Orman</a> addressed a question from a listener, Vanessa, who purchased a whole life insurance policy for her 10-year-old daughter in 2017. The policy had a $100,000 benefit and required 20 years of monthly payments at $75. Vanessa and her husband had already paid $6,750 over 7.5 years, but with the policy's current value at $3,353, they were unsure whether to continue or cash out and redirect the funds elsewhere.
Orman didn't mince words. "Why did you buy life insurance on a 10-year-old child?" she asked incredulously. "Who sold you that?" She clarified her belief that <a href="https://www.benzinga.com/personal-finance/24/10/41260491/suze-orman-on-using-life-insurance-to-buy-out-family-not-immoral-but-it-wont-solve-your-problem">life insurance</a> is primarily for those with financial dependents. The purpose, she explained, is to replace income in the event of a provider's death, not to insure a child who is not financially responsible for others.
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Orman stated that the policy didn't make much financial sense either. At the end of the 20-year term, Vanessa would have paid $18,000 in premiums for the $100,000 policy. Whole life insurance accrues cash over time, but Orman argued that the returns aren't great compared to other investment options they could pursue.&nbsp;
Instead, she suggested redirecting the money to a <a href="https://www.benzinga.com/personal-finance/24/01/42757069/i-dont-care-what-tax-bracket-youre-in-suze-orman-insists-youd-be-crazy-to-have-anything-other-than-a-roth-retirement-account">Roth IRA</a> or an S&amp;P 500 ETF could yield significantly better outcomes. For instance, if the family cashed out the current value of $3,353 and invested it, the growth potential could be exponential, especially over decades.
Using a hypothetical example, Orman illustrated the benefits of investing:
If the $3,353 was invested in a Roth IRA, earning an average annual return of 8% and $75 was added monthly for 12.5 years, the account could grow to approximately $27,000.
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That investment might grow to $140,000 by age 50. By age 70, it could potentially reach $600,000 – all tax-free in a Roth IRA.
"That's money that she could use," Orman said, emphasizing the flexibility and long-term benefits of investing. "That $100,000 life insurance policy doesn&#8217;t help her at all, really, while she&#8217;s alive."
If life insurance is necessary, Orman suggested term life insurance as a more practical option. Term policies provide coverage for a set period, often at much lower premiums, allowing individuals to allocate more money toward <a href="https://www.benzinga.com/25/01/42793107/pay-off-the-car-loan-or-save-the-cash-suze-orman-shares-what-makes-the-most-sense-for-a-72-year-old-listeners-25k-dilemma">savings and investments</a>.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Orman's recommendation to Vanessa was clear: stop the whole life policy. She advised investing the money in a brokerage account if the cash value can't be transferred directly into a Roth IRA. Over time, the compounding growth could create a financial cushion far more valuable than the whole life policy's benefit.
While Vanessa's intentions were likely well-meaning, Orman's analysis underscores the importance of aligning financial decisions with long-term goals. In this case, investing the funds could provide Vanessa's daughter with a more robust financial future.
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Personal Finance

Why Did You Buy Life Insurance On A 10-Year-Old Child?' Suze Orman Tells Parents They Made A Mistake And To Quit The Policy

These eight mid-cap stocks were the best performers in the last week. Are they in your portfolio?
<ol>
<li>H&amp;E Equipment Services, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEES#NASDAQ">HEES</a>) shares rocketed 100.59% after United Rentals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>) announced it would acquire the <a href="https://www.benzinga.com//node/42974291" target="_blank" rel="noreferrer noopener">company for around $4.8 billion</a>. UBS downgraded H&amp;E Equipment to Neutral from Buy and raised the price <a href="https://www.benzinga.com/quote/HEES/analyst-ratings" target="_blank" rel="noreferrer noopener">forecast to $92 from $60</a>.</li>
<li>SEMrush Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMR#NYSE">SEMR</a>) shares jumped 36.17%, probably due to overall market strength after CPI data was in line with estimates and core CPI rose by less than expected. Also, Morgan Stanley upgraded the company to Overweight from Equal-Weight and raised the <a href="https://www.benzinga.com/quote/semr/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast to $20 from $17</a>.</li>
<li>Compass, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COMP#NYSE">COMP</a>) shares upped 26.36% after the company raised its <a href="https://www.benzinga.com//node/42997946" target="_blank" rel="noreferrer noopener">fourth-quarter and FY24 guidance</a>.</li>
<li>Blueprint Medicines Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BPMC#NASDAQ">BPMC</a>) shares grew 25.87% after the company reported a year-over-year increase in <a href="https://www.benzinga.com//node/42935745" target="_blank" rel="noreferrer noopener">FY24 AYVAKIT revenue results</a>.</li>
<li>Alignment Healthcare, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALHC#NASDAQ">ALHC</a>) stock grew 22.73%.</li>
<li>Option Care Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPCH#NASDAQ">OPCH</a>) shares gained 21.55% last week after the company approved a new $500 million stock repurchase program and issued FY24 adjusted EPS guidance above estimates. Barrington Research maintains Option Care Health with an Outperform rating and raised the <a href="https://www.benzinga.com/quote/OPCH/analyst-ratings" target="_blank" rel="noreferrer noopener">price forecast from $32 to $33</a>.</li>
<li>ImmunityBio, Inc.'s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBRX#NASDAQ">IBRX</a>) stock escalated 21.49% on updates on its ongoing FDA discussions regarding three areas of its clinical development pipeline: non-muscle invasive bladder cancer (NMIBC) and <a href="https://www.benzinga.com//node/43038889" target="_blank" rel="noreferrer noopener">non-small cell lung cancer (NSCLC)</a>.</li>
<li>IonQ, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IONQ#NYSE">IONQ</a>) stock surged 20.29%  after Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) issued a statement to its business customers to get "quantum ready" and NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced <a href="https://www.benzinga.com/25/01/43011494/whats-going-on-with-ionq-stock-today" target="_blank" rel="noreferrer noopener">its first-ever quantum day event</a>.</li>
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IonQ, H&E Equipment Services And ImmunityBio Are Among Top Mid Cap Gainers Last Week (Jan 13-Jan 17): Are The Others In Your Portfolio?

Politics

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General

Trump Said He Will Use Emergency Powers To Allow People To Build Big AI Plants

President-elect Donald Trump and his incoming VP JD Vance debuted their new presidential and vice presidential portraits last week and, well, they could not have been more different.
Daniel Torok, the President-elect's chief photographer, revealed the portraits on X. "We are entering the GOLDEN AGE OF AMERICA," Torok wrote. His feed quickly filled up with hilarious commentary comparing and contrasting Trump and Vance as mafia don to blue-eyed Boy Scout.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We are entering the GOLDEN AGE OF AMERICA! &#x2764;&#xFE0F;&#x1f1fa;&#x1f1f8; <a href="https://t.co/tU3nCgAqEi">pic.twitter.com/tU3nCgAqEi</a>
&mdash; Daniel Torok (@dto_rok) <a href="https://twitter.com/dto_rok/status/1879743327781945429?ref_src=twsrc%5Etfw">January 16, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
"They go hard," <a href="https://www.donaldjtrump.com/news/07024bed-769c-482f-a243-5c5ee1682e9e">wrote</a> Trump's transition team in a one-sentence press release about the official portraits. There was no explanation about who or what went hard though we presume the two men in the portrait.
Clearly Trump's demeanor, eyes squinting, defiant mob-boss look on his face, is not a far cry from the mugshot seen around the world when <a href="https://www.benzinga.com/news/23/08/33851310/donald-trump-election-fraud-probe-georgia-grand-jury-reportedly-issues-10-indictments">he was&nbsp;booked</a> into the Fulton county jail on charges&nbsp;of attempting to steal the 2020 presidential election. He was clearly fuming then. But now? Five years later and the leader of the free world, what&#8217;s he so annoyed about?
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<h2 class="wp-block-heading">There&#8217;s A Method To His Meanness</h2>
In addition to evoking a tough-guy, almost scary, masculine energy in his 2025 presidential portrait, we now know that the 2020 mugshot went on to serve a higher purpose: it <a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36205739/trump-mug-shot-gets-nft-treatment-how-you-can-also-own-a-piece-of-the-suit-he-wore">helped raise funds</a> for Trump&#8217;s 2024 election campaign as part of a collection of non-fungible tokens (NFTs).
The threatening face ultimately made its way to <a href="https://www.benzinga.com/25/01/42890191/trump-themed-nfts-launch-on-bitcoin-network-for-first-timeheres-what-you-should-know">the recent launch</a> of Trump's latest NFT collection, &#8220;Trump Bitcoin Digital Trading Cards,&#8221; on the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) network. 
CollectTrumpCards, the U.S. president as of Jan 20&#8217;s official <a href="https://x.com/collecttrump?lang=en">NFT account on X</a>, announced that buyers of 100 &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/23/12/36205739/trump-mug-shot-gets-nft-treatment-how-you-can-also-own-a-piece-of-the-suit-he-wore">Mugshot Edition</a>&#8221; NFTs can claim them on Magic Eden by submitting their Bitcoin wallet. 
So there&#8217;s money to be made on coins, as witnessed by the <a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43076559/donald-trumps-meme-coin-trump-rallies-103-in-a-day-creates-billions-out-of-thin-air">Saturday launch </a>of the meme coin TRUMP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) that immediately soared to to $5.6 billion within just 24 hours. 
And then there&#8217;s JD Vance whose bright blue eyes and congenial smile remind one of a boy scout leader in a small Ohio town who made it big and couldn't be happier.
Things sure have changed since Gilbert Stuart painted George Washington&#8217;s portrait in 1797.
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Photo courtesy of Trump-Vance Transition Team/EPA-EFE/Shutterstock

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Donald Trump And JD Vance's Official Portraits: Mugshot Meme Vs Smiling Boy Scout?

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President Elect Trump At Pre-Inauguration Rally, Said He Spoke With Apple's Tim Cook Today; Cook Said They'd Make Massive Investment In The U.S.

<a href="https://www.benzinga.com/personal-finance/25/01/42953411/nba-star-shaq-learned-true-meaning-of-pressure-after-his-dad-took-him-to-a-homeless-family-he-paid-36000-to-get-them-off-the-streets">Shaquille O'Neal</a> doesn't just walk into a room—he fills it, and not just because of his 7'1" frame. The NBA legend and Hall of Famer has a knack for showing up at the right time, and in one particularly unforgettable moment, he did so with his signature mix of generosity and flair.&nbsp;
In 2021, as reported by CBS News, Shaq was browsing a Zales jewelry store in Atlanta when he noticed a young man nervously making payments on an engagement ring. What happened next is classic Shaq.
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The basketball icon casually pulled out his credit card and handed it to the cashier, covering the remaining balance for the surprised customer. The interaction, captured on video, shows the stunned man shaking Shaq's hand and taking a photo with the legend himself. Speaking later on TNT's Inside the NBA, Shaq explained, "I saw the guy, he was just so shy. He was saying, ‘How much do I still owe to pay off the ring?' So I told him, ‘You know what, tell your girlfriend I got it.'"
It wasn't a publicity stunt—just Shaq being Shaq. On the broadcast, he elaborated: "I try to do something good every day. Whether it's buying furniture for a family or helping someone pay off layaway, <a href="https://www.benzinga.com/personal-finance/24/12/42715996/nba-legend-shaq-abandoned-a-40-million-reebok-shoe-deal-after-a-lady-confronted-him-over-high-price-tag-maam-i-dont-make-the-prices">I just like making people happy</a>."
But this wasn't just a one-off moment. O'Neal has a long history of stepping up when he sees a need. From paying for the funeral of a young girl in Houston killed by gun violence to donating a year's rent for an Atlanta family whose home wasn't wheelchair-accessible, Shaq's generosity knows no bounds. "If I see someone struggling, I try to take care of it," he has said.
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Of course, these acts of kindness are only one part of his larger-than-life persona. While many know him for his basketball accolades—four NBA championships, 15 All-Star appearances, and a spot in the Hall of Fame—Shaq has built an empire off the court that's just as impressive. With an estimated net worth of $500 million, he's a savvy entrepreneur who's invested in the likes of <a href="https://www.benzinga.com/personal-finance/24/10/41432168/nba-icon-shaquille-oneal-says-an-accidental-babysitting-gig-led-to-his-early-investment-in-googl">Google during its early days</a>, as well as other businesses like Papa John's, Krispy Kreme, and Ring. He also owns dozens of franchises, and has endorsement deals that stretch across industries.
But what makes Shaq unique isn't just his business acumen or his basketball legacy. It's his ability to connect with people, whether he's shaking hands with a stranger at Zales or tipping a waitress $1,000 to fix her car. As he said about the young man in Atlanta, "He was a hardworking guy just trying to do something special for someone he loves. How could I not help him?"
Shaq's story isn't just about success—it's about using that success to lift others. And whether he's paying for an engagement ring or helping a family get back on their feet, he proves time and again that being a true legend is about more than just talent; it's about heart.
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NBA Legend Shaq Spotted A Young Man Buying An Engagement Ring In Zales When He Swooped In And Paid For It — 'Tell Your Girlfriend I Got It'

In the wake of a contentious app update, Sonos Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SONO#NASDAQ">SONO</a>) CEO Patrick Spence stepped down from his role last week.
What Happened: Spence&#8217;s departure follows an app update that resulted in a decrease in sales and customer satisfaction for Sonos. 
The update, which eliminated features that customers found useful, was intended to lay the groundwork for future improvements but instead disrupted many features for existing users.
Interim CEO Tom Conrad, in a communication to staff, acknowledged the company&#8217;s errors and stressed the importance of rebuilding customer trust, as reported <a href="https://www.theverge.com/2025/1/13/24342354/sonos-interim-ceo-tom-conrad-employee-letter?utm_source=chatgpt.com">by</a> The Verge.
"I've heard from many of you about your own frustrations about how far we've drifted from our shared ideals," he wrote in the letter. 
"There's a tremendous amount of work in front of us, including what I'm sure will be some very challenging moments, decisions, and trade-offs, but I'm energized by the passion I see all around me for doing right by our customers and getting back to the innovation that is at the heart of Sonos' incredible history," Conrad wrote. 
&#8220;I know as well as anyone the incredible power of what we can do. A Sonos Move was playing in the delivery room when my daughter (11 months just last week!) was born. Sonos provides a similar soundtrack for millions of lives throughout the world every single day. When it all works, it's absolute magic,&#8221; he further added. 
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&#8220;It's also true that when it doesn't work, our customers are taken out of the moment and are right to feel that we've let them down. I think we'll all agree that this year we've let far too many people down. As we've seen, getting some important things right (Arc Ultra and Ace are remarkable products!) is just not enough when our customers' alarms don't go off, their kids can't hear their playlist during breakfast, their surrounds don't fire, or they can't pause the music in time to answer the buzzing doorbell,&#8221; he wrote in the letter. 
Despite successful product introductions like&nbsp;the Sonos Ace headphones and&nbsp;the Arc Ultra soundbar, Sonos faces a challenging journey to mend its brand and customer relationships.
Why It Matters: The resignation of Spence underlines the significant impact of the app update debacle on Sonos&#8217;s leadership and overall business. 
The company&#8217;s future success hinges on its ability to restore customer confidence and effectively manage the fallout from the controversial update. 
The shakeup in leadership, coupled with the need to repair its brand image, presents a critical juncture for Sonos. The company&#8217;s next steps will be closely watched by investors and customers alike.
Read Next
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Image: Shutterstock

SONO

Sonos' Interim CEO Hits The Right Notes In Employee Letter, Here's The Key Takeaway

Charlie Munger, who passed away in 2023 at the age of 99, shared his final reflections on life and career, offering profound insights into his journey to success.
What Happened: Munger, a Harvard Law graduate, initially embarked on his career in a prestigious California firm. Despite his success, he sought&nbsp;more than what a senior&nbsp;law partner could earn, leading him to explore investments in stocks, businesses, and property development, and eventually founding a law firm with colleagues.
Munger&#8217;s&nbsp;three basic rules for career&nbsp;satisfaction included striving to deserve what you want, working under people you admire, and having intense interest in your work. He emphasized the importance of reputation and integrity, and the joy derived from earning deserved trust.
&#8220;I have three basic rules for career satisfaction that have always helped me, and I believe they can help any young person evaluating a career decision. While meeting all three is nearly impossible, you should try anyway,&#8221; Munger <a href="https://www.cnbc.com/2023/11/29/charlie-munger-these-basic-career-rules-made-me-successful-in-life-with-warren-buffett-i-had-all-3.html">wrote</a> for CNBC.
First, he advised never to sell anything one wouldn't buy for oneself. He believed the best approach to achieving what one wants is to focus on deserving it, a notion rooted in the golden rule. 
&#8220;There is no ethos, in my opinion, that is better for any person to have. By and large, the people who have had this ethos win in life, and they don't win just money and honors — they win the respect and the deserved trust of the people they deal with,&#8221; he wrote. 
Also Read: <a href="https://www.benzinga.com/markets/25/01/42935637/heres-how-charlie-mungers-final-investment-move-doubled-his-money-reveals-his-close-friend-li-lu">Here&#8217;s How Charlie Munger&#8217;s Final Investment Move Doubled His Money, Reveals His Close Friend Li Lu</a>
Second, Munger stressed the importance of working only for those one respects and admires. He warned against working under individuals one does not admire, noting the risks posed by authority figures who exert influence, especially through rewards. 
Munger further wrote, &#8220;Generally, your outcome in life will be more satisfactory if you work under people whom you correctly admire.&#8221;
Finally, Munger encouraged working alongside people whose company one genuinely enjoys. He argued that excelling in any field requires a deep interest in the subject and enjoyment of the process. He advocated for aligning one&#8217;s work with personal interests and surrounding oneself with enjoyable colleagues. 
&#8220;I've had marvelous partners, full of assiduity, all my life. I think I got them partly because I tried to deserve them, and partly because I was shrewd enough to select them, and partly because there was some luck,&#8221; he concluded. &nbsp;
Why It Matters: Munger&#8217;s career and life philosophy have been a guiding light for many in the investment world. His emphasis on integrity, reputation, and passion for work, coupled with his successful partnership with Warren Buffett, have left an indelible mark on the industry. 
His passing leaves a void that will be hard to fill, but his teachings and principles will continue to inspire and guide future generations of investors. His legacy is a testament to the power of perseverance, integrity, and passion in achieving success.
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Success Stories

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DJCO

Charlie Munger's 3 Rules For Success: 'Don't Sell What You Wouldn't Buy, Work For Those You Admire, Partner With People You Enjoy'

Billionaire entrepreneur Mark Cuban has shared that the best time to start a business is when you&#8217;re at your lowest. This strategy, he says, is what <a href="https://www.benzinga.com/news/24/10/41196856/heres-how-mark-cubans-drunken-splurge-of-125-000-turned-into-a-profitable-investment">transformed him into a millionaire</a>.
What Happened: In a recent podcast interview, Cuban said that having nothing to lose is the ideal time to kickstart a business. This was his situation&nbsp;when he launched his first&nbsp;tech company, MicroSolutions, in 1983.
Cuban, who had recently lost his job and was living in a crowded apartment, sold MicroSolutions seven years later for $6 million, turning him into a millionaire. His subsequent venture, Broadcast.com, was&nbsp;sold to Yahoo for $6&nbsp;billion in 1999, catapulting him into the billionaire&#8217;s club.
"If you've got nothing, it's the perfect time to start a business. If you want to take that next step, you have to be able to deal with the consequences of changing your circumstances. Creating a business gives you the greatest potential upside and the greatest leverage on your time, but it also creates the most risk,&#8221; Cuban <a href="https://www.youtube.com/watch?v=0cn3VBjfN8g">said</a>.  
Today, 66-year-old Cuban boasts&nbsp;an estimated net worth of&nbsp;$7.79 billion. He underscored the significance of being ready for the risks and uncertainties that come with entrepreneurship. 
Also Read:&nbsp;<a href="https://www.benzinga.com/news/24/11/41703723/mark-cubans-million-dollar-advice-to-teens-if-i-were-16-again-id-start-this-lucrative-side-hustle" target="_blank" rel="noreferrer noopener">Mark Cuban's Million-Dollar Advice To Teens: ‘If I Were 16 Again, I'd Start This Lucrative Side Hustle'</a>
He further recommended&nbsp;saving at least six months&#8217;&nbsp;worth of living expenses and conducting an in-depth study of the prospective business&#8217; industry.
Why It Matters: Cuban&#8217;s advice comes at a time when many are grappling with job losses and financial instability due to the ongoing pandemic. 
His success story serves as a beacon of hope and inspiration for aspiring entrepreneurs. His emphasis on preparedness and research highlights the importance of strategic planning in business. 
His journey from a crowded apartment to a billionaire&#8217;s lifestyle is a testament to the power of resilience and determination in the face of adversity.
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Mark Cuban's Success Mantra: 'If You've Got Nothing, It's The Perfect Time To Start A Business'

Maye Musk is proving that reinvention and resilience can open doors, no matter your age or industry. Known primarily as <a href="https://www.benzinga.com/startups/24/12/42381822/elon-musks-mom-maye-says-she-likes-to-sit-in-on-meetings-with-her-son-and-ramaswamy-says-wealthy-and-billionaire-are-degrading-words">Elon Musk's mother</a>, Maye has carved her path as a model, author and dietitian with a thriving presence on the Chinese social media platform Xiaohongshu – often dubbed "RedNote" by English speakers, but also Douyin and Weibo.&nbsp;
As <a href="https://www.benzinga.com/25/01/43035577/nio-ceo-welcomes-tiktok-users-to-rednote-amid-us-ban-concerns">TikTok users look for new platforms</a> due to <a href="https://www.benzinga.com/general/social-media/25/01/43049496/as-tiktok-faces-us-ban-vpn-searches-skyrocket-800-will-workarounds-work-experts-weigh-in">possible bans in the U.S.</a> and other countries, Maye's rise on Xiaohongshu shows how people and businesses can use these platforms to grow.
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<h2 class="wp-block-heading">A New Kind of Influencer</h2>
At 76, Maye Musk is not your typical influencer. With more than 577,000 followers on Xiaohongshu, she publishes various lifestyle content, such as postings about travel, wellness and cultural appreciation, as The Guardian recently reported. Her captions, like "Feel the oriental aesthetics" and "Let's review the wonderful experience in 2024," resonate with her audience, who see her as a role model for aging gracefully and embracing new challenges.
Interestingly, she has reportedly been compared to figures like Henry Kissinger for fostering goodwill between cultures, showing her strong impact in China.
Maye's popularity matches a trend in China called "silver influencers." These are older people who inspire younger generations, like Millennials and Gen Z. Most of Maye's followers are young women who admire her independence, style and strength.
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Maye's influence extends beyond social media. In recent years, she's become a global ambassador for brands like Oppo, AISE Baobao and Fila, attending high-profile events in China's fashion and luxury sectors. She has walked in fashion shows for JNBY and attended events for brands like Moncler alongside stars like Rihanna and A$AP Rocky.
Her endorsements highlight the business potential of tapping into China's consumer market. With <a href="https://www.benzinga.com/news/global/24/12/42737037/tesla-shanghai-megafactory-starts-trial-production-seven-months-after-breaking-ground">Tesla's largest factory in Shanghai</a> and <a href="https://www.benzinga.com/24/12/42637260/elon-musk-accused-of-bullying-republicans-to-scrap-us-china-investment-safeguards-to-protect-teslas-interests">Elon Musk's strong ties to the country</a>, Maye's rising popularity complements her son's business interests, fostering goodwill for the Musk brand.
<h2 class="wp-block-heading">A Bestselling Author in China</h2>
Maye's book, A Woman Makes a Plan, has also found a receptive audience in China. Its Chinese edition has been described as a bestseller, with readers praising her life story of overcoming adversity and thriving in multiple careers. Her narrative – from surviving an abusive marriage to raising three successful children and building her career – strikes a chord in a culture that values perseverance and self-reliance.
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<h2 class="wp-block-heading">Lessons for Business and Finance</h2>
Maye's success on Xiaohongshu provides valuable insights for businesses and entrepreneurs. As TikTok faces potential bans in some countries, diversifying onto platforms like Xiaohongshu can help safeguard and expand reach, particularly in lucrative markets like China. Maye's posts emphasize the importance of authenticity, showing how sharing personal stories and values can foster deeper connections with audiences.
The rise of "silver influencers," like Maye, reveals the untapped potential of older demographics in marketing. Including diverse age groups in campaigns can broaden a brand's appeal and impact. Additionally, Maye's embrace of Chinese culture – from celebrating festivals to appreciating infrastructure – has strengthened her relatability and appeal in the local market.
<h2 class="wp-block-heading">A New Era of Influence</h2>
As some TikTok creators migrate to Xiaohongshu amid uncertainty, Maye Musk's flourishing presence demonstrates the platform's viability for global influencers and businesses. Her ability to connect with young audiences while staying true to her brand is a master class in adaptability and innovation – qualities any entrepreneur or marketer can learn from.
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Elon Musk's Mom Maye – Model, Author And 'International Dietitian' – Is A Sensation On RedNote As TikTokers Flee To The Chinese Platform

In a surprising revelation, Jeffrey Epstein, the disgraced financier, was allegedly offered a plea deal <a href="https://www.benzinga.com/news/24/11/41703154/michael-wolff-on-donald-trump-jeffrey-epstein-relationship">by federal prosecutors</a>.
What Happened: The deal was contingent on Epstein providing information that could potentially lead to the impeachment of President-elect Donald Trump. This claim comes from Epstein&#8217;s former cellmate.
Epstein&#8217;s ex-cellmate, Nicholas Tartaglione, made the startling claim that Epstein was given an opportunity to plead guilty to a lesser charge in exchange for information against Trump. 
According to the report <a href="https://nypost.com/2025/01/18/us-news/feds-offered-jeffrey-epstein-a-deal-for-dirt-on-trump-ex-cellmate/">by</a> The New York Post, Tartaglione, a former Westchester cop and convicted murderer, was Epstein&#8217;s cellmate at the Metropolitan Correctional Center in Manhattan a few weeks before Epstein&#8217;s death in August 2019.
According to Tartaglione, Epstein disclosed the details of the deal after a meeting with federal prosecutors. 
Epstein was quoted as saying, &#8220;They told me they&#8217;d&nbsp;let me plead out something&nbsp;small, and I&#8217;ll&nbsp;do just a couple of&nbsp;years in a camp, if&nbsp;I can give them something&nbsp;on Trump to get him&nbsp;impeached.&#8221;
"He says, but the government told me I don't have to prove what I say about Trump, as long as Trump's people can't disprove it," Tartaglione told the outlet adding that Epstein considered "making stuff up" to save his skin. 
Also Read: <a href="https://www.benzinga.com/news/24/05/38630738/jeffrey-epsteins-second-black-book-is-up-for-sale-and-it-contains-the-names-of-over-200-previously-u">Jeffrey Epstein&#8217;s Second &#8216;Black Book&#8217; Is Up For Sale — And It Contains The Names Of Over 200 Previously Undisclosed People, Including Carl Icahn</a>
Epstein, who was facing a slew of charges&nbsp;including sex trafficking of minors&nbsp;and sexual exploitation, was found dead in his cell in August 2019. His death has been a hotbed of controversy and speculation.
Tartaglione also shared that Epstein confessed he didn&#8217;t have any significant information about Trump. Epstein reportedly told Tartaglione that his relationship with Trump was purely social and they were not friends. 
Tartaglione further claimed that Epstein contemplated fabricating information to save himself.
No other source has confirmed the allegations made by Tartaglione. Representatives for Manhattan federal prosecutors have&nbsp;declined to comment on these claims.
Why It Matters: This revelation, if true, could add a new dimension to the Epstein case and the controversies surrounding President Trump. It raises questions about the lengths prosecutors were willing to go to gather information against Trump. 
However, with Epstein&#8217;s death and the lack of any other source to confirm these allegations, the truth of these claims remains uncertain.
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Jeffrey Epstein Allegedly Offered Plea Deal In Exchange For Trump Info: 'If I Can Give Them Something On Trump To Get Him Impeached'

Sherpa, a highly followed crypto analyst, has forecasted a significant surge for the altcoin Hyperliquid (CRYPTO: HYPE). 
What Happened: In a <a href="https://x.com/AltcoinSherpa/status/1880248083956789654">post</a> on X, Sherpa shared his bullish perspective on Hyperliquid. The crypto analyst anticipates that HYPE, a utility token of the decentralized open financial system, could surge by at least 116% from its current level before the end of this cycle.
Despite seeing potential in HYPE, Sherpa advises his followers to gradually scale in their positions. He also mentioned, &#8220;Not one to give you&nbsp;a 10x at these current&nbsp;levels for this cycle in&nbsp;my opinion but could still&nbsp;be a safe one to&nbsp;hold.&#8221;
Last month, the altcoin&nbsp;earned $26.5 million in USDC revenue through platform fees and ticker auctions.
Regarding XRP, Sherpa advises patience, noting that it&#8217;s&nbsp;not at an ideal level&nbsp;for long entries. When it comes to Cardano (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/ada/usd">ADA</a>), Sherpa sees strength in the altcoin&nbsp;on the weekly time frame, predicting it could continue to rise if other first-generation altcoins appreciate.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39125451/crypto-trader-says-these-two-meme-coins-are-set-to-spike-and-neither-of-them-are-dogecoin-">Crypto Trader Says These Two Meme Coins Are Set To Spike — And Neither Of Them Are Dogecoin Or Shiba Inu</a>
Lastly, Sherpa remains optimistic about Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>),&nbsp;the largest memecoin by market&nbsp;cap. He suggests that DOGE could trade within a range for a&nbsp;while before revisiting its&nbsp;42-month high of around $0.485.
Why It Matters: Sherpa&#8217;s predictions are significant given his large following and the current volatile nature of the crypto market. His bullish outlook on Hyperliquid could potentially influence other traders and investors. 
His cautionary advice on XRP and optimism for Cardano and Dogecoin also provide valuable insights for those navigating the crypto market. 
However, as always, investors should conduct their own research and consider multiple perspectives before making investment decisions.
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Forget Dogecoin And Shiba Inu - This Altcoin Expected To Skyrocket By 116% Before End Of This Cycle

German opposition leader Friedrich Merz, who is seen as the frontrunner to become the country&#8217;s next chancellor, said that Donald Trump&#8216;s second term will provide <a href="https://www.benzinga.com/markets/eurozone/25/01/43061813/german-voters-head-to-polls-to-tackle-immigration-economic-stagnation" target="_blank" rel="noreferrer noopener">more clarity for the European Union</a>.
Merz made the comments during a meeting in Berlin with key conservative EU figures, including Manfred Weber, the head of the European People&#8217;s Party (EPP), the largest group in the European Parliament, reports Reuters.
While Merz views Trump&#8217;s predictability as beneficial for European planning, German Chancellor Olaf Scholz has recently <a href="https://www.benzinga.com/markets/25/01/42935683/scholz-warns-of-tension-with-trump-as-border-integrity-and-nato-spending-loom-over-germanys-election" target="_blank" rel="noreferrer noopener">expressed concerns about Trump&#8217;s foreign policy</a>.
Scholz has specifically raised alarms over Trump&#8217;s rhetoric on border integrity, particularly his remarks about neighboring countries like Canada and Greenland. Scholz stressed that the inviolability of borders is a core principle of Western values and warned that no smaller country should fear its larger neighbors.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/cryptocurrency/25/01/43074163/exclusive-will-bitcoin-dogecoin-shiba-inu-or-xrp-gain-more-on-trumps-inauguration-day-41-pick-this-crypto" rel="noreferrer noopener">EXCLUSIVE: Will Bitcoin, Dogecoin, Shiba Inu Or XRP Gain More On Trump&#8217;s Inauguration Day? 41% Pick This Crypto</a>
Merz, on the other hand, emphasized the importance of European unity, particularly in relation to the U.S, Reuters adds.
He argued that Europe must present a united front to be respected globally and to strengthen its position within the Western alliance.
With Trump&#8217;s inauguration imminent, Merz suggested that his hawkish policies could present opportunities for Europe, especially in terms of joint military procurement.
As Germany&#8217;s conservative opposition leader, Merz is poised to succeed Scholz after the collapse of Scholz&#8217;s coalition government over economic disagreements.
Merz believes that Trump&#8217;s second term could accelerate efforts to bring European power together, allowing Europe to act more cohesively on the global stage.
The contrasting views between Merz and Scholz highlight the complex challenges European leaders face as they navigate a changing transatlantic relationship under a returning Trump administration.
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Image: Shutterstock

German Opposition Leader Sees Trump's Return as a Clarifying Force for EU

JPMorgan Chase&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) has reportedly spent an enormous $2.14 billion on legal costs over the last two years.
What Happened: The bank&#8217;s 8-K <a href="https://data.fca.org.uk/artefacts/NSM/Portal/NI-000110939/NI-000110939.pdf">filings</a> with the U.S. Securities and Exchange Commission indicate that it expended $1.4 billion in 2023 and $740 million in 2024 on legal disputes.
These expenses encompass a significant settlement with the SEC, where JPMorgan disbursed&nbsp;$151 million in combined civil&nbsp;penalties and voluntary payments to&nbsp;investors.
Recently, the&nbsp;Consumer Financial Protection Bureau (CFPB)&nbsp;initiated a lawsuit against JPMorgan,&nbsp;along with Bank of America,&nbsp;Wells Fargo, and Zelle, for alleged failures to&nbsp;address widespread fraud and unauthorized&nbsp;transactions on the Zelle platform.
Also Read: <a href="https://www.benzinga.com/news/25/01/42965086/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
Since 2000,&nbsp;JPMorgan has paid more than&nbsp;$40 billion in fines and&nbsp;settlements due&nbsp;to anti-competitive practices, securities abuses, and other violations, as per the public Violation Tracker.
Why It Matters: Despite the hefty legal expenses, JPMorgan managed to report a profit of $14 billion in Q4 2024, marking&nbsp;its largest-ever annual profit at&nbsp;$58.5 billion. This indicates the bank&#8217;s resilience and ability to weather financial storms.
The lawsuit filed by the CFPB also puts a spotlight on the bank&#8217;s ability to manage fraud and unauthorized transactions, especially on digital platforms like Zelle. 
As digital transactions continue to rise, the ability to effectively manage and prevent fraud will be critical for maintaining customer trust and loyalty.
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Here's The Jaw-Dropping Total JPMorgan Chase Paid To Fight Legal Battles Over Two Years

In an interview with Barron&#8217;s in 2019, celebrated investor Peter Lynch shared his unique perspective on identifying high-potential companies and the significance <a href="https://www.benzinga.com/markets/24/12/42499608/investment-guru-peter-lynch-if-you-cant-explain-to-an-11-year-old-in-2-minutes-or-less-why-you-own-t">of investing in growth stocks.</a>
What Happened: Lynch stressed the importance of understanding a company&#8217;s narrative and investing in stocks that are in the &#8220;second innings of the ballgame.&#8221;
He elaborated that growth stocks, characterized by substantial sales growth, outperform non-growth stocks.
Lynch also noted the success of passive management in asset accumulation, a trend not observed at&nbsp;Fidelity. He highlighted that numerous funds at Fidelity have consistently outperformed their benchmarks over the years.
According to Lynch, the hallmark of a great company is that investors don&#8217;t need to fret about the bigger picture. He used&nbsp;Stop &amp; Shop&nbsp;and&nbsp;Dunkin&#8217; Donuts&nbsp;as examples of thriving local businesses.
Speaking with <a href="https://www.barrons.com/articles/peter-lynch-how-to-find-growth-opportunities-in-todays-stock-market-51576877980">the</a> outlet, Lynch recommended investors to stay in the stock market during the &#8220;second inning of the ballgame&#8221; and exit by the seventh, a period that could span 30 years. He cautioned against drawing conclusions without a solid foundation.
&#8220;My best stocks have been ones where I didn't have to worry about the big picture. A company with a better mousetrap, a growth company in a non-growth industry,&#8221; Lynch said. 
He expressed apprehension about the current scarcity of growth companies and the trend of capital concentration in a handful of firms. 
Also Read: <a href="https://www.benzinga.com/markets/25/01/42935107/peter-lynchs-money-making-advice-when-things-go-from-terrible-to-semi-terrible-to-ok-you-can-make-a-lot-of-money">Peter Lynch&#8217;s Money-Making Advice: &#8216;When Things Go From Terrible to Semi-Terrible to OK, You Can Make a Lot of Money&#8217;</a>
Lynch also touched upon the challenges created by companies remaining private for extended periods, which complicates matters for individual investors.
On the topic of unicorns, Lynch suggested that the next Google might remain private for an additional decade, further complicating the landscape for individual investors. 
Lynch also advised investors to adhere to certain rules, comprehend the story of the company they are investing in, and scrutinize the financials before making an investment.
&#8220;You can see things better. The one thing I want everybody who is buying individual stocks to get is that they have to understand the story, the five reasons something is going to go right for the company. If you can't convince an 8-year-old why you own this thing, you probably shouldn't own it. Don't invest in a company before you look at the financials. If you made it through fifth grade, you can handle the math,&#8221; he said during the interview. 
Why It Matters: Lynch&#8217;s investment philosophy has always centered around understanding the company&#8217;s story and its growth potential. His advice comes at a time when the market is seeing a scarcity of growth companies, and money is increasingly flowing into a select few. 
His insights serve as a reminder for investors to be diligent, understand the companies they invest in, and not be swayed by market trends without a solid basis.
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Image: Shutterstock

Peter Lynch's Advice: 'Don't Invest in a Company Before You Look At the Financials. If You Made It Through Fifth Grade, You Can Handle the Math'

America&#8217;s ageing population does not only show up in a larger proportion of adults nearing or reaching retirement, advisors themselves are also aging out of the business. Yet preparations for how to deal with this shift are at all-time lows in the industry, according to a <a href="https://www.planadviser.com/ria-succession-planning-hits-new-low/">new national survey</a> by consultancy DeVoe &amp; Co.
The firm polled 100 senior RIA executives, principals and owners whose responses reveal that only 42% of advisories have written succession plans in place. That&#8217;s the lowest number since the firm started asking the question in 2019.
While soaring advisory valuations make it less likely that junior employees will be able to buy out founders, consultants at DeVoe point out that succession planning is important not just for economic reasons, but to ensure steady management and reliability. That in turn may increase the value of the advisory even more, which would help founders looking to sell to a competitor and retire.
One big hurdle DeVoe identified is that respondents generally say they&#8217;d prefer to have their companies taken over by internal candidates, though they also report a lack of trust in the next generation. Only one-third say they trust the next generation to take care of their company, another third have medium confidence. The remaining third has none at all.
This suggests there&#8217;s a huge gap in expectations and training between senior advisor executives and partners on the one hand, and their more junior employees on the other. For a smoother transition, better client experience and higher advisory valuation, advisories should consider instituting mentoring and training programs to quickly and internally build up a suite of potential leaders that executives will trust to manage the company.
To enable that, advisories will need to use financial incentives to attract the best advisors so they can be trained for leadership roles. DeVoe&#8217;s survey identifies another gap. Only 49% of respondents said they have a clear plan for compensating advisors, with another 28% saying they give informal direction and 15% saying they give discretionary bonuses. Most respondents would not recommend their company&#8217;s compensation plan to a friend.
This marks a huge opportunity for RIAs. Reworking incentive plans will help hire, cultivate and retain the best talent, as well as ensure a smooth transition for the company.

Financial Advisors

Gaps In RIA Succession Planning Reveal Opportunities

HHS Secretary-designate Robert F. Kennedy Jr.&#8217;s pledge to ban high fructose corn syrup (HFCS) and seed oils has reportedly raised concerns among corn farmers, particularly in key <a href="https://www.benzinga.com/markets/equities/24/11/42254495/trumps-hhs-pick-rfk-jr-has-a-long-history-of-challenging-global-health-policies" target="_blank" rel="noreferrer noopener">Trump-supporting regions like western Ohio</a>.
Corn farming in this area is a major industry, and a significant portion of the crop is used to produce HFCS, a sweetener found in a wide range of processed foods, reports The Guardian.
Kennedy, selected by President-elect Donald Trump to head the Department of Health and Human Services, has been vocal about his desire to reduce the use of HFCS, which he links to health issues like obesity and diabetes.
With about 8% of U.S. corn dedicated to HFCS production, farmers worry that any shift away from this market could drastically impact their incomes.
Experts estimate that up to 1.4 billion bushels of corn could be displaced if a ban is implemented, leading to a potential drop in prices.
Also Read:<a target="_blank" href="https://www.benzinga.com/trading-ideas/long-ideas/25/01/43073652/tesla-apple-meta-and-dogecoin-influencers-see-pattern-for-post-2025-inauguration-rally" rel="noreferrer noopener"> Benzinga Bulls And Bears: Tesla, Apple, Meta And Dogecoin Influencers See Pattern For Post-2025 Inauguration Rally</a>
However, while concerns are real, many farmers in Ohio&#8217;s Darke and Shelby counties, where Trump enjoys strong support, are adopting a &#8220;wait-and-see&#8221; approach, the report adds.
The U.S. Corn Refiners Association, which represents major agribusinesses, declined to comment on the potential impact of Kennedy&#8217;s stance.
Meanwhile, some farmers, like Dan Kelley from Illinois, are more focused on external factors such as global competition and trade tariffs than on Kennedy&#8217;s health-focused policies, The Guardian adds.
Despite Kennedy&#8217;s outspoken views on food reform, experts don&#8217;t expect immediate changes to the HFCS market.
Although corn and seed crops are a significant component of U.S. agriculture, the demand for high fructose corn syrup has dropped by nearly 50% since 1999.
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RFK Jr. Pledge Could Shatter Corn Industry: Farmers Brace for Impact

House Speaker Mike Johnson says that his first private meeting with President Joe Biden left him deeply concerned, as Biden appeared unaware of an executive order he had recently signed.
What Happened: In an interview with The Free Press, Johnson alleged that Biden's cognitive state and lack of engagement have raised doubts about his leadership. 
Johnson said that he believed that Biden was not actively managing the country and was instead &#8220;signing what others were putting in front of him.&#8221; The order signed by Biden, which paused liquefied natural gas (LNG) exports to Europe, prompted Johnson to ask, "Who is running the country?"
During the discussion, Johnson recalled a January 2022 meeting at the White House. Despite his initial requests for a private meeting with Biden being delayed for months, Johnson said he eventually had a brief one-on-one interaction after an initial session with several Democratic leaders, Vice President Kamala Harris, and a CIA official. 
Biden reportedly asked his advisers to leave the room, allowing the Speaker and the president to speak directly.
Also Read: <a href="https://www.benzinga.com/news/24/02/37054062/democrats-are-reportedly-worried-about-the-narrative-around-joe-bidens-memory-lapses">Democrats Are Reportedly Worried About The Narrative Around Joe Biden&#8217;s Memory Lap ses</a>
According to <a href="https://www.thefp.com/p/when-mike-johnson-knew-joe-biden-not-in-charge">the</a> interview, Johnson shared that he brought up concerns regarding a recent executive order impacting his Louisiana constituents. "I asked him, ‘Mr. President, why did you pause LNG exports to Europe? This is causing massive damage to our economy and helping Russian President Vladimir Putin's war efforts,&#8221; Johnson recounted.
According to the Speaker, Biden appeared confused and denied signing such an order. Johnson pressed further, insisting the president had indeed issued the directive, which Biden reportedly attributed to a study on LNG impacts rather than a ban.
"It occurred to me he genuinely did not know what he had signed," Johnson said, describing the encounter as unsettling. He added, "I walked out of that meeting with fear and loathing because I thought, ‘We're in serious trouble.'"
In January 2024, the White House announced a temporary halt on pending LNG export approvals, citing its climate agenda as the primary reason. 
The decision has faced criticism from energy industry stakeholders and lawmakers, particularly from regions reliant on LNG exports.
On Saturday, Elon Musk responded to Johnson&#8217;s statement and said Biden was not in charge.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As I said a few years ago, Biden was not in charge. Whoever controlled his teleprompter was. <a href="https://t.co/kzwQpWlzx8">https://t.co/kzwQpWlzx8</a>
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1880674586486067387?ref_src=twsrc%5Etfw">January 18, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Image: Shutterstock

Speaker Johnson Raises Doubts Over Biden's Awareness of His Own Executive Orders: 'Who Is Running the Country?'

Let's talk about <a href="https://www.benzinga.com/personal-finance/24/09/41075540/is-your-401-k-balance-above-average-find-out-if-youre-beating-most-savers">your nest egg</a>. No, not in a "Why haven't you saved more?" way – this isn't a guilt trip. Instead, think of this as a friendly check-in. Whether your savings are soaring or just getting off the ground, it's natural to wonder: How do I measure up? And for those of you eyeing the <a href="https://www.benzinga.com/personal-finance/24/10/41127976/are-you-a-rich-retiree-heres-the-net-worth-and-income-you-need-to-be-in-the-top-10">top 10% of retirement savers</a>, these numbers will show you exactly what it takes.
Spoiler: It's not all doom and gloom; there's always time to make moves. Let's break it down.
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The Averages: Are You Ahead or Behind?
First, let's look at what the average American has saved for retirement by age group. According to the 2022 Survey of Consumer Finances, here's where things stand:
<h2 class="wp-block-heading">Average Retirement Savings by Age Group</h2>
Under 35:
• Average savings: $49,130
• Median savings: $18,880
Ages 35-44:
• Average savings: $141,520
• Median savings: $45,000
Ages 45-54:
• Average savings: $313,220
• Median savings: $115,000
Ages 55-64:
• Average savings: $537,560
• Median savings: $185,000
Ages 65-74:
• Average savings: $609,230
• Median savings: $200,000
75 and older:
• Average savings: $462,410
• Median savings: $130,000
If you're beating these averages, that's worth celebrating! But maybe you're eyeing the next level – joining the top 10%. What does that look like?
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The Top 10%: Where the Big Savers Are
The top 10% of retirement savers are in a league of their own. Here's what it takes to join their ranks:
Median savings: Around $900,000.
Average savings: Roughly $1.3 million.
It's important to mention the average is higher because a few ultra-wealthy savers skew the numbers, while the median shows what most people have.
By age 50, the top 10% of savers often have over $500,000 tucked away.
By 55, they're typically closing in on $750,000 or more.
And the crème de la crème? The <a href="https://www.benzinga.com/personal-finance/24/04/38525546/are-you-on-track-to-join-the-top-1-in-retirement-savings-heres-how-much-they-have-at-every-age">top 1% boast savings of $2.3 million</a>. But, when considering a broader definition of retirement assets, the number soars to $5 million, according to data from DQYDJ, using stats from the Federal Reserve.
What Should You Aim For?
Even if the top 10% feels far off, financial experts offer benchmarks to keep you on track for a comfortable retirement:
• Age 30: Save 1x your annual salary.
• Age 40: 3x your salary.
• Age 50: 6x your salary.
• Age 60: 8x your salary.
• Age 67: 10x your salary.
These milestones aren't hard rules – life happens. But they're a good starting point to see where you stand.
Trending: Many are using retirement income calculators to check if they&#8217;re on pace —<a href="https://www.benzinga.com/money/how-do-i-calculate-my-retirement-income-adv"> here&#8217;s a breakdown on what&#8217;s behind this formula.</a>
Want to Boost Your Savings? Here's How
If your savings feel a little underwhelming, don't stress. There are plenty of ways to catch up:
1. Max out retirement contributions: Contribute as much as possible to your 401(k) or IRA. And if your employer offers a match, grab that free money!
2. Start saving early: The earlier you start, the more compound interest works in your favor. If you're late to the game, don't worry – you can still catch up.
3. Take advantage of catch-up contributions: For those over 50, you can sock away an additional $7,500 annually in your 401(k). Starting in 2025, individuals aged 60-63 can save up to $11,250.
4. Cut unnecessary expenses: Redirect what you save toward your retirement fund. <a href="https://www.benzinga.com/personal-finance/24/07/39989781/suze-orman-reveals-the-one-expense-you-must-cut-in-retirement-the-very-last-thing-i-would-think-">Small sacrifices now</a> can lead to big wins later.
5. <a href="https://www.benzinga.com/personal-finance/24/11/41726342/can-you-guess-what-asset-the-ultra-wealthy-invest-in-most-heres-a-hint-its-not-stocks">Diversify your investments</a>. A mix of stocks, bonds and other assets can balance risk and grow your nest egg.
It's Not Too Late to Make Moves
If you're behind, don't panic – it's never too late to start. Whether you're playing catch-up in your 50s or just starting in your 20s, every little bit counts. The key is consistency and making smart financial choices now to give your future self a leg up.
So, how does your nest egg stack up? If you're already ahead of the averages, you're in a great spot. And if not, now's the perfect time to <a href="https://www.benzinga.com/money/are-you-rich">build a plan</a> and take control of your financial future. Remember, retirement savings aren't about perfection – they're about progress.
&#x2A;This information is not financial advice and personalized guidance from a financial adviser is recommended for making well-informed decisions.
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How Does Your Nest Egg Stack Up? Here's What It Takes To Be In The Top 10% Of Retirement Savers

American workers are increasingly trading higher salaries for the ability to work from home, marking a shift in how employees value workplace flexibility versus compensation.
Half of U.S. workers would accept a pay cut to work remotely, with 26% willing to take a 5% reduction and 24% open to cuts of 10% or even 15%, according to a FlexJobs survey cited by Newsweek. Some workers would give up more than money – 23% would <a href="https://www.benzinga.com/general/24/03/37969308/fyi-fully-remote-workers-are-more-likely-to-be-passed-up-for-promotion">forgo professional development opportunities</a>, while others would sacrifice vacation days or health insurance benefits.
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&#8220;There&#8217;s this unspoken exchange rate between flexibility and compensation and for some candidates, it&#8217;s worth a significant trade-off,&#8221; Theresa L. Fesinstine, founder of peoplepower.ai, told Fortune.
This shift comes as employers and employees wrestle over return-to-office mandates.&nbsp;
Companies have responded by increasingly using remote work as a bargaining chip, while <a href="https://www.benzinga.com/personal-finance/25/01/42899482/73-of-execs-want-you-back-in-the-office-heres-why-and-how-it-impacts-the-economy">others demand a return to in-office work</a>. The HR firm Robert Half reports that 35% of new job postings in last year&#8217;s third quarter offered remote or hybrid options, up from 30% the previous year.
&#8220;While some employers are requiring workers to come back to the office full- or part-time, flexibility remains a leading factor influencing workers&#8217; decisions to stay in their current roles or seek new opportunities,&#8221; Robert Half&#8217;s district president Michelle Reisdorf told Newsweek.
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The trade-off between salary and flexibility might be financially rational for some workers. Dr. Alison Collins of Manchester Metropolitan University Business School notes that reduced commuting costs could offset salary reductions of around 10%.
Looking ahead, the dynamic may shift again.&nbsp;
Robert Half projects a hiring boom in 2025, with 63% of companies planning to add positions in the year&#8217;s first half. The increased competition for talent could force employers to offer both flexibility and competitive pay.
The trend reveals deeper changes in how Americans view work-life balance post-pandemic. For many, the ability to work from home has become a benefit worth paying for – even if it means accepting a smaller paycheck.
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