This week: Credit card delinquencies have reached their highest level since the financial crisis, with $1.25 trillion in total balances and average rates at 21%, and we explain how compound interest can work against borrowers. Americans are saving more for retirement than ever before, but the gap between who has access to a plan and who does not reveals a significant divide. The World Cup kicks off next week across eleven U.S. cities with projections of $17.2 billion in economic activity, and we look at whether those numbers hold up to scrutiny. And a policy proposal that could change what types of investments are available inside retirement plans has drawn nearly 45,000 public comments, centered on a concept worth understanding: fiduciary duty.
Sources referenced in this episode:
WSJ (Credit Card Debt) — https://www.wsj.com/personal-finance/credit/us-credit-card-debt-af5c7c77
Federal Reserve Bank of New York (Consumer Credit Panel) — https://www.newyorkfed.org/microeconomics/hhdc
Federal Reserve (G.19 Credit Card Rate Survey) — https://www.federalreserve.gov/releases/g19/current/
Barron's (Retirement Savings) — https://www.barrons.com/articles/retirement-savings-rate-fidelity-e711bf75?refsec=retirement&mod=topics_retirement
Fidelity Investments (Q1 2026 Retirement Analysis) — https://newsroom.fidelity.com/pressreleases/fidelity-q1-2026-retirement-analysis--401-k--and-403-b--savings-rates-reach-record-levels--despite-u/s/f8f4ee41-ab58-4f14-9adb-dcb4feb3f2c7
CBS News (World Cup Tourism) — https://www.cbsnews.com/news/world-cup-fifa-2026-tourism-us
FIFA/WTO (Economic Impact Study) — https://digitalhub.fifa.com/m/152f754a8e1b3727/original/FIFA-World-Cup-2026-Socioeconomic-impact-analysis.pdf
Euronews (World Cup Analysis) — https://www.euronews.com/business/2026/06/02/the-2026-world-cup-billions-promised-but-will-the-economic-boom-arrive
Barron's (401(k) Alternatives Proposal) — https://www.barrons.com/advisor/articles/public-comments-alts-401k-rule-proposal-67b7fedf?refsec=economy-and-policy&mod=topics_economy-and-policy
U.S. Department of Labor (Proposed Rule) — https://www.dol.gov/newsroom/releases/ebsa/ebsa20260330
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What is The Wealth Recap?
Your week in markets and money. The Wealth Recap covers major financial stories of the week and explores what they may mean for everyday financial life. From gas prices and job reports to market performance and interest rates, each episode is designed to help listeners build financial awareness and understanding. AI-assisted in drafting, with all content reviewed for accuracy and compliance by Buckley Wealth, an SEC-registered investment adviser. This podcast is for educational and informational purposes only and does not constitute personalized financial advice. Listeners should consult their own financial advisor before making investment decisions. New episodes every Wednesday. For more information, visit buckleywealth.com.