{"id":89700,"date":"2025-11-22T01:00:22","date_gmt":"2025-11-22T09:00:22","guid":{"rendered":"https:\/\/lenpenzo.com\/blog\/?p=89700"},"modified":"2025-11-28T09:44:22","modified_gmt":"2025-11-28T17:44:22","slug":"black-coffee-22-nov-2025","status":"publish","type":"post","link":"https:\/\/lenpenzo.com\/blog\/id89700-black-coffee-22-nov-2025.html","title":{"rendered":"Black Coffee: Eyes Wide Shut"},"content":{"rendered":"

\"\"It’s time to sit back, relax and enjoy a little joe …<\/em><\/p>\n

Welcome to another rousing edition of Black Coffee, your off-beat weekly round-up of what’s been going on in the world of money and personal finance.<\/p>\n

I hope everybody had a wonderful week. And with that, let’s get right to this week’s commentary, shall we?<\/p>\n

The hardest thing to explain is the glaringly evident which everybody has decided not to see.<\/em><\/p><\/blockquote>\n

\u2015 Ayn Rand<\/span><\/strong><\/p>\n

Credits and Debits<\/strong><\/p>\n

Debit:<\/strong><\/span> Did you see this? According to Kelly Blue Book, “The $20,000-vehicle is now mostly extinct<\/a>, and many price-conscious buyers are sidelined or cruising in the used-vehicle market.\u201d Imagine that. And here\u2019s one big reason why:<\/p>\n

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Debit:<\/strong><\/span> Meanwhile, a new study has found that just 40%<\/a> of workers between age 61 and 65 are financially on track for retirement and will have enough income to fund their current lifestyle into retirement. The rest are expected to fall short. In fact, the median 61- to 65-year-old will have a $9000 annual deficit in retirement, representing a 24% shortfall in their funding needs. As for the reason why so many near-retirees have underfunded retirement savings, well\u2026 that\u2019s<\/strong><\/em> easy to explain:<\/p>\n

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h\/t: @duediligenceguy<\/p><\/div>\n

Credit:<\/strong><\/span> The good news is that, here in America, 401(k) contribution limit for workers under 50 increases to $24,500<\/a> in 2026. Workers 50 and older can deposit up to $32,500 in their 401(k)s next year, while the limit for employees aged 60 to 63 is even higher at $35,750. Even better, that’s before<\/strong><\/em> the taxman gets to take a bite from the apple. Not that anyone should feel sorry for him these days…<\/p>\n

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Credit:<\/strong><\/span> Of course, near-retirees who find themselves with insufficient savings do<\/strong><\/em> have a few other options<\/a> available to them. For instance, working longer, tapping home equity and spending less are just three examples \u2013 but those strategies won\u2019t be palatable for everyone. Especially the last one. Well\u2026 at least when it comes to couples like this<\/strong><\/em>:<\/p>\n