Happy Tuesday, y’all!

Do you remember how old you were when you opened your first retirement account?

For me, it was 25, shortly after landing my first full-time role in journalism. (Technically, I had one sooner from when I was working abroad in South Korea, but that’s a whole other story.)

Turns out, the typical Gen Zer has me beat... and probably you, too. In our lead story, I dive into new research that shows they began saving for retirement at a much younger age than older generations did.

Let’s get to it. — Adam Hardy

Were you forwarded this email? Subscribe to get Daily Money delivered to your inbox for free.

New Study Says Gen Zers Could End Up Richer in Retirement Than Boomers

Maybe the “Gen Z stare” is a phenomenon because they’re thinking about something else... like saving for retirement.

A new report from Bank of America suggests they are very good at it. The typical Gen Zer with a 401(k) plan started saving for retirement a decade sooner than baby boomers did.

Gen Zers — defined in the study as anyone born after 2000 — began saving at an average age of 24, compared to baby boomers who started at 34.

And young workers are feeling pretty good about it. The survey also asked respondents how prepared they currently feel about retirement. Some 84% of Gen Zers said they feel on track versus 79% of boomers who said the same.

When it comes to saving for retirement, Gen Z has the right idea: Start sooner rather than later. The key is compound growth — that’s the long-term effect of what happens when you save and invest your money over long periods of time. Your earnings start making earnings, and your account balance balloons.

And Gen Zers have a 10-year head start. — AH

Are you sure you have the best mortgage rate?

Refinancing your mortgage could be one of the simplest ways to reduce your monthly payments and save money over time. By swapping your existing loan for one with a lower rate or different term, you may be able to cut your housing costs and free up cash for other priorities. Money has reviewed and ranked the top mortgage refinance lenders to help you compare your options with confidence.

Explore our list today and see how much you could save.

MORE TARIFFS, EH?

These Items Could Soon Get More Expensive With New Trump Tariffs (Yep, Again)

The White House announced Monday it plans to impose tariffs of up to 50% on many Canadian products. The tariffs are scheduled to take effect in 30 days unless the two countries reach an agreement.

The list touches everything from alcohol and food ingredients to construction materials and sporting goods. American consumers could see higher prices on Canadian-made furniture, dairy products, beer and wine, cosmetics, candles, paint, paper goods, machinery and some toys and electronics.

Energy products, potash, fish and critical minerals are specifically excluded.

The news comes roughly five months after the U.S. Supreme Court struck down many of the president's signature tariffs imposed last year.

This time around, although the number of products is large, BMO Economics estimates that the affected goods represent only 5% of total Canadian exports to the U.S., or roughly $20 billion of goods. Still, economist Justin Wolfers described the latest twist in tariff policy as “a surprisingly big deal” in an interview with CNN. — Kaitlin Mulhere

Behind the Scenes @ Money

In the newsroom, our editors are talking about...

GO FIGURE

After Years of Growth, the Number of 401(k) Millionaires Has Dropped

The number of 401(k) millionaires fell for the first time in a year as stock market volatility in the first quarter weighed on account balances.

READ MORE

older man traveling through forest of coins

Eddie Lee / Money; Getty Images

This issue of Daily Money was written by editor Kaitlin Mulhere and lead data reporter Adam Hardy. It was edited by managing editor Julia Glum. Questions? Comments? Concerns? Please email [email protected] with any feedback.

This newsletter is free because Money earns a commission when you click or make purchases from the links in this email and on our site. We also receive compensation for some of the products and services featured in this message. Offers may be subject to change without notice. Learn more about how we make money.

Privacy Policy • Advertise With Us • We're Hiring!

To stop receiving these emails, unsubscribe or manage your email preferences.

Copyright ©2026 Money Group, LLC. All rights reserved.

Metro Office Park Calle 1, Building 7 Suite 204, Guaynabo, Puerto Rico 00968, USA