Retirement rankings

Most American adults think they aren’t where they should be when it comes to saving for retirement. And 35 percent think they’re significantly behind, according to the results of an annual Bankrate survey released Sept. 25. That parallels findings from a survey this spring when half of respondents said they don’t have time to save enough before retiring.

Only half of American families have retirement accounts, but those who do may be making better progress than they realize. The average workplace-­retirement fund balance, one yardstick for retirement, is about $294,000, according to September data from financial services company Empower. The balance for people in their 50s is more than $580,000. And thanks to increased contributions and steady stock market gains, Americans’ retirement accounts—IRAs, 401(k)s, and 403(b)s—grew for three quarters in a row to reach the third-highest recorded average, according to Fidelity Investments. People in their mid-40s through 50s contributed to their IRAs at a higher rate than in any of the previous five years.

How much is enough starting out? Fidelity advisers recommend people in their 30s have an individual retirement account balance equal to their annual salary.

Postage hikes forever?

The U.S. Postal Service may raise the price of first-class stamps, currently 73 cents, five times in the next two years, according to a September regulatory filing. A likely price hike in July 2025 follows two increases this year that totaled 7 cents. American households, businesses, and nonprofits rely on the Postal Service to send letters, marketing materials, periodicals, and media, but the agency has raised the price to mail letters seven times since 2018, with the hikes amounting to a 46 percent increase. Still, the agency’s inspector general said earlier this year its prices increased at a slower pace than in most developed nations.

An industry study from March said the Postal Service’s pricing strategy is driving away customers, contributing to $6.5 billion in USPS losses in fiscal year 2023. The price increases are part of the agency’s 10-year plan to become more competitive that includes buying new equipment but also longer first-class mail delivery times and customer-service cuts. —T.V.

Millionaires on campus

College sports stars since 2021 have been allowed to earn money from their name, image, and likeness (NIL), and business is booming: Last October, just 10 NCAA athletes’ earnings exceeded $1 million, according to MarketWatch. Now 34 have passed that benchmark. Quarterbacks are eight of the Top 10 NIL earners this year, according to On3’s tracker. In first place: Colorado’s Shedeur Sanders, with $5.8 million in earnings. In second place at $4 million: LSU gymnast Olivia Dunne, who says she can earn up to $500,000 per social media post. —T.V.