💨 Drift happens

When it comes to retirement savings, drift happens. More than 1 in 3 Americans (34%) say they may have lost track of funds from a former employer, according to new Empower research. The drift can start early: 50% of Gen Zers and 45% of Millennials say old accounts like 401(k)s may have slipped off their radar.

Job hopping could be making it harder to keep track. More than half of Americans (53%) have changed employers at least three times, and nearly 2 in 5 (39%) have retirement savings spread across different employers.

Out of sight doesn’t mean gone. Former employers, old account statements, and federal and state databases can all help locate left-behind accounts. Once found, you can explore your account options — including rolling funds into an IRA or a new employer’s plan. Learn more about how to fix retirement drift.  

— The Editors 

⛆ Ripple effect: Inflation accelerated to 3.7% in September as higher energy costs put more pressure on household budgets. Gas prices jumped 9.1% for the month — up 34.2% annually — while grocery prices saw some relief, dipping 0.1% for the month. Looking ahead, Social Security benefits will get a 3.6% cost-of-living adjustment (COLA) in 2027 to help offset rising costs.

📋 Auto-start: Trump Accounts have shifted to automatic enrollment at the Treasury Department, with more than 60 million eligible children receiving accounts. Parents and guardians must take action to claim and activate the accounts — and separately elect to get the $1,000 federal seed money for eligible children born from 2025 through 2028.

🛟Savings lifeline: An emergency fund can help keep your finances on steady ground when unplanned expenses hit. While 68% of Americans have emergency savings, 46% say they have less set aside than the year before. Whether you’re getting started with $500 or funding three to six months of essential expenses, see how to build an emergency fund that fits your budget.

⏩ Fast track: The 2027-28 Free Application for Federal Student Aid (FAFSA) can take as little as 15 minutes to complete, thanks to clearer questions, text invites for parents, and quicker verifications. Families spent an average of $34,019 on college last academic year, with scholarships and grants covering 27%. Don’t forget state or college deadlines* for FAFSA since aid can be limited and first-come, first-served.

Open to change

Open enrollment season is more than a chance to revisit your health plan — it’s an opportunity to review your broader financial well-being. 
 
Small adjustments can make a big difference over time: If your plan offers a health savings account (HSA), you may be able to tap into a potential triple advantage. HSA contribution limits increase to $4,500 for individuals and $9,000 for families in 2027. Unused funds can be invested since there is no “use it or lose it” rule. 

Rather than letting last year’s choices drift over, check that new elections still align with your needs, budget, and goals. You can also look for new plan perks and ways to help optimize retirement savings. Bumping contributions to a 401(k) or other workplace plan by just 1% can potentially add up over time through the power of compounding.

Don’t take the bait

Scammers are finding new ways to target people’s money, including lifetime savings. Americans reported losing $3.5 billion to imposter scams in 2025, while six-figure losses among adults 60 and older jumped nearly sevenfold between 2020 and 2024.

The tactics vary. Some criminals pose as banks or government officials, claiming accounts are compromised, while others build trust through online romances. Phishing emails and texts can also trick people into revealing sensitive financial information.

Three simple steps can help protect your savings: pause, verify, and protect. Learn how to spot the warning signs of suspicious requests on The Currency™.

Sink or swim

Getting into vacation mode may come with a high price tag. Airline fares are up 22.4% year over year, according to the latest Consumer Price Index. Still, the pull to get away remains strong: Three in four travelers (76%)* say having a trip on the calendar gives them something to work toward.

A little planning can help your budget stay afloat. Setting aside money gradually in a sinking fund can make travel expenses easier to manage when it’s time to book — without sending your finances off course. Unpack how sinking funds work on The Currency and learn which expense categories may be worth saving for.

In case you missed it, read on:

• Inheriting a 401(k)? Know your next steps
• Retirement savings averages $734,731. How do you stack up?
• Eyeing an IPO? Here's how to get started