Apple said it has pulled two of Chinas biggest gay dating apps, Blued and Finka, under pressure from Chinese authorities, in the latest sign of a tightening grip on the LGBTQ+ community.
An Apple spokesperson said in a statement that the company removed the two dating apps from China based on an order from the Cyberspace Administration of China, without further elaborating.
We follow the laws in the countries where we operate, the spokesperson told The Associated Press.
A check by The Associated Press on Tuesday found that the two apps are not available on Apples app store in China, although an express version of Blued could still be found. It was unclear what the difference is between the full and express versions or if an Android version might be available.
Blued was available only in China, Apple said. Finkas developer elected to remove the app outside of China earlier this year, the company added.
Another popular gay dating app, Grindr, was pulled from Apples app store in China in 2022.
Chinas LGBTQ+ community and advocacy groups are under intensifying pressure from authorities, even though the country decriminalized homosexuality in 1997. Some LGBTQ+ groups have been forced to cease operations in recent years in China and activism has been constrained.
Blued and Finka have the same parent company, BlueCity, a China-founded company that focuses on the LGBTQ+ community in China and abroad. BlueCity was delisted from the Nasdaq in 2022, when it was taken private.
Last year, Apple also reportedly removed apps including WhatsApp and Threads from its app store in China under an order by the Cyberspace Administration of China.
Among all foreign tech companies that provide services to Chinese users, Apple is probably the one which is most willing to comply with Chinese internet regulations, said George Chen, partner and co-chair of digital practice at The Asia Group.
Apple rarely pushes back on Chinese governments takedown requests as Chinese markets, including sales of iPhones, is too important for them, Chen added.
Chan Ho-Him, AP business writer
AP writers Kelvin Chan and Kanis Leung contributed to this story.
The tech industry is moving fast and breaking things againand this time it is humanitys shared reality and control of our likeness before and after deaththanks to artificial intelligence image-generation platforms like OpenAIs Sora 2.
The typical Sora video, made on OpenAIs app and spread onto TikTok, Instagram, X, and Facebook, is designed to be amusing enough for you to click and share. It could be Queen Elizabeth II rapping or something more ordinary and believable. One popular Sora genre is fake doorbell camera footage capturing something slightly uncanny say, a boa constrictor on the porch or an alligator approaching an unfazed childand ends with a mild shock, like a grandma shouting as she beats the animal with a broom.
But a growing chorus of advocacy groups, academics, and experts is raising alarms about the dangers of letting people create AI videos on just about anything they can type into a prompt, leading to the proliferation of nonconsensual images and realistic deepfakes in a sea of less harmful AI slop. OpenAI has cracked down on AI creations of public figuresamong them, Michael Jackson, Martin Luther King Jr., and Mister Rogersdoing outlandish things, but only after an outcry from family estates and an actors’ union.
The nonprofit Public Citizen is now demanding OpenAI withdraw Sora 2 from the public, writing in a Tuesday letter to the company and CEO Sam Altman that the apps hasty release so that it could launch ahead of competitors shows a consistent and dangerous pattern of OpenAI rushing to market with a product that is either inherently unsafe or lacking in needed guardrails. Sora 2, the letter says, shows a reckless disregard for product safety, as well as people’s rights to their own likeness and the stability of democracy. The group also sent the letter to the U.S. Congress.
OpenAI didn’t immediately respond to a request for comment Tuesday.
Our biggest concern is the potential threat to democracy, said Public Citizen tech policy advocate J.B. Branch in an interview. I think were entering a world in which people cant really trust what they see. And were starting to see strategies in politics where the first image, the first video that gets released, is what people remember.
Branch, author of Tuesday’s letter, also sees broader concerns to people’s privacy that disproportionately impact vulnerable populations online.
OpenAI blocks nudity but Branch said that women are seeing themselves being harassed online in other ways, such as with fetishized niche content that makes it through the apps’ restrictions. The news outlet 404 Media on Friday reported on a flood of Sora-made videos of women being strangled.
OpenAI introduced its new Sora app on iPhones more than a month ago. It launched on Android phones last week in the U.S., Canada and several Asian countries, including Japan and South Korea.
Much of the strongest pushback has come from Hollywood and other entertainment interests, including the Japanese manga industry. OpenAI announced its first big changes just days after the release, saying overmoderation is super frustrating for users but that its important to be conservative while the world is still adjusting to this new technology.
That was followed by publicly announced agreements with Martin Luther King Jr.’s family on Oct. 16, preventing disrespectful depictions of the civil rights leader while the company worked on better safeguards, and another on Oct. 20 with Breaking Bad actor Bryan Cranston, the SAG-AFTRA union and talent agencies.
Thats all well and good if youre famous, Branch said. Its sort of just a pattern that OpenAI has where theyre willing to respond to the outrage of a very small population. Theyre willing to release something and apologize afterwards. But a lot of these issues are design choices that they can make before releasing.”
OpenAI has faced similar complaints about its flagship product, ChatGPT. Seven new lawsuits filed last week in California courts claim the chatbot drove people to suicide and harmful delusions even when they had no prior mental health issues. Filed on behalf of six adults and one teenager by the Social Media Victims Law Center and Tech Justice Law Project, the lawsuits claim that OpenAI knowingly released GPT-4o prematurely last year, despite internal warnings that it was dangerously sycophantic and psychologically manipulative. Four of the victims died by suicide.
Public Citizen was not involved in the lawsuits, but Branch said he sees parallels in Sora’s hasty release.
He said theyre putting the pedal to the floor without regard for harms. Much of this seems foreseeable. But theyd rather get a product out there, get people downloading it, get people who are addicted to it rather than doing the right thing and stress-testing these things beforehand and worrying about the plight of everyday users.
OpenAI spent last week responding to complaints from a Japanese trade association representing famed animators like Hayao Miyazaki’s Studio Ghibli and video game makers like Bandai Namco and Square Enix. OpenAI said many anime fans want to interact with their favorite characters, but the company has also set guardrails in place to prevent well-known characters from being generated without the consent of the people who own the copyrights.
Were engaging directly with studios and rightsholders, listening to feedback, and learning from how people are using Sora 2, including in Japan, where cultural and creative industries are deeply valued,” OpenAI said in a statement about the trade group’s letter last week.
Barbara Ortutay and Matt O’Brien, AP technology writers
ByHeart Whole Nutrition Infant Formula is being recalled in 12 states due to concerns it may be contaminated with Clostridium botulinum, as the U.S. Food and Drug Administration (FDA) and Centers for Disease Control and Prevention continue to investigate a multi-state outbreak of infant botulism.
As of November 10, 15 infants who were either fed the formula or exposed to it have developed infant botulism in 12 different states. Those states are: Arizona, California, Illinois, Kentucky, Minnesota, North Carolina, New Jersey, Oregon, Pennsylvania, Rhode Island, Texas, and Washington. The investigation remains ongoing.
All 15 infants were hospitalized, and no deaths have been reported. Information is available for 14 of those cases, with the illnesses occurring between August 9 and November 10. Those 14 infants range in age from 16 to 157 days old.
ByHeart released a public statement on November 11, which said that while the company hasn’t found the “toxins in any unopened can of ByHeart formula,” it “decided to voluntarily recall all ByHeart formula nationwide” including unexpired lots of formula cans and single-serve anywhere sticks.
ByHeart infant formula products make up less than 1% of all infant formula sold in the U.S.
Infant botulism symptoms
According to the FDA, most infants with infant botulism will initially develop constipation, poor feeding, loss of head control, and difficulty swallowing, which can progress to difficulty breathing and respiratory arrest.
Symptoms of infant botulism, which is diagnosed clinically, can take as long as several weeks to develop following formula ingestion.
FDA recommendations
Botulism can be fatal, and the FDA recommends taking action right away. According to the agency, parents and caregivers should stop using any ByHeart infant formula products immediately.
If you suspect a child has consumed ByHeart Whole Nutrition Infant Formula and is experiencing signs and symptoms, seek immediate medical attention. If a child consumed ByHeart formula and is not currently showing symptoms, continue monitoring them and seek medical attention if symptoms develop.
If you still have the formula in your home, the agency recommends you to take a photo or record the information on the bottom of the package, keep the container in a safe spot, and be sure to label that product as “DO NOT USE.” If a child develops symptoms, your state health department might want to collect your formula container for testing. If a child does not develop symptoms after 30 days, throw your containers out.
Young people early in their careers are understandably alarmed by reports that their jobs are most at risk from AI automation. Some are even reconsidering their career choices due to whats been dubbed AI anxiety.
But job seekers shouldnt give up. People whose jobs are threatened by AI must look for ways to play to their strengths and their human qualities. They should focus on the many areas where humans outshine AIthings like relationship building, resourcefulness, emotional intelligence, teamwork, and leadership.
For much of the labor force, of course, it wont be possible to avoid AI completely. Many occupations will involve working with AI not just as an assistive tool but, increasingly, as a coworker.
Job seekers arent alone in their concerns about the future of work. Business leaders are grappling with questions of how AI will impact jobs, skills, and the workforce broadly. The answers will require leaders to focus on what it is that human workers do best and where they can add the greatest value.
Evidence of these macro forces is coming from all directions. A report from Stanford University, based on payroll data, found that AI is beginning to have a significant and disproportionate impact on entry-level workers. Stanford researchers concluded that 22 to 25 years old occupations most exposed to AI have faced a 13% relative decline in employment.
AUTOMATION VERSUS AUGMENTATION
Thats the glass half empty. The Stanford report included some encouraging indicators, including that overall employment is still growing and that wages havent been negatively affected. Employment for workers in less exposed fields and more experienced workers in the same occupations has remained stable or continued to grow, the researchers wrote.
And its important to draw distinctions between different types of work. Many experts see a line of demarcation between automation and augmentation. Stanford found that entry-level employment declined in roles where AI automates or substitutes for work, but not where it augments work.
Its easy to see why. Basic tasks like transcription, report generation, and scheduling dont require extensive education or training. Thats not to say those functions are unimportantwe depend on them dailybut AI can do the same, in some cases faster and better. And AI is moving up the skills stack into areas such as design, content creation, code writing, and customer support.
For higher-level work, AI augmentation has the potential to make us better at what we do rather than replace us. For example, AI agents integrated with collaboration tools can automatically present insights in near real time to help business professionals make smarter decisions. And AI chatbots interacting with customers or prospects can detect and escalate opportunities to salespeople, who can add the human touch.
DEVELOP NEW SKILLS AS A CAREER BUFFER
Implementing AI for automation or augmentation isnt an either/or decision. Many organizations will do both, and there are nuances as we forge ahead.
The model provider Anthropic drills deeper into the topic of automation and augmentation in its usage tracking report. Anthropic looks at automation in two ways: directive conversations, where theres minimal interaction between AI and humans; and feedback loops, where humans relay outcomes back to the model. As for augmentation, Anthropic subdivides it into learning, task iteration, and validation.
In short: Our AI touchpoints will be many and varied. So, rather than worrying too much about the downsides of automation, our energies may be better spent upskilling for the myriad ways that human workers can benefit from AI augmentation to achieve more.
Investing time and effort in AI-readiness can help serve as a career buffer by keeping workers current with new technologies and business demands. Talent managers in hiring roles will put a premium on people with the moxie to not just survive, but thrive alongside AI.
THE FLIP SIDE OF AUTOMATION: HUMAN EXCELLENCE
Heres another ray of hope. Luiza Jarovsky, cofounder of the AI, Tech & Privacy Academy and an expert in AI governance, writes on Substack that demand for excellent professionals is rising.
Why such a positive outlook? AI outputs can be suboptimal and may require a human in the loop, Jarovsky argues. AI-first companies, she writes, are realizing that full automation disconnected from excellent human work fails to meet legal, ethical, and quality standards.
So, the debate over AIs impact can be framed both as challenge and opportunity. Case in point: Inc.com reports that starting salaries for workers with AI skills have risen 12% compared to a year ago. Thats the flip side of automation.
As I think about the young adults in my own household who are contemplating their career paths, I will encourage them to pursue their interests with enthusiasm and commitment, but also resilience. Its too early to know how AI will impact our livelihoods. But the ability to adapt, redirect and keep growing will be invaluable no matter the ups and downs.
Amit Walia is CEO of Informatica.
If youre flying later this month, you may need to temper your expectations now: The major U.S. airlines are warning that flight disruptions could persist even after the government shutdown ends.
The longest government shutdown in U.S. history seemingly has an end in sight now that the Senate passed legislation Monday night to end the shutdown. But the recent flurry of canceled and delayed flights could continue, warned a trade group made up of the major U.S.-based airlinesAmerican, Southwest, Delta, and Unitedas well as UPS and FedEx.
Airlines reduced flight schedules cannot immediately bounce back to full capacity right after the government reopens, Airlines for America said in a statement on Monday. It will take time, and there will be residual effects for days.
STRAIN ON AIR TRAFFIC CONTROLLERS
Federal workers that include air traffic controllers and TSA agents who have continued working during the shutdown have seen two consecutive zero-dollar paycheck cycles. And thats led to some employees calling out sick, taking on extra work elsewhereor even quitting their jobs altogether because of the stress the shutdown has inflicted.
Thats unlike whats happened during past government shutdowns, and notably the one in 2019, Nick Daniels, president of the National Air Traffic Controllers Association, told CNN last week. Further compounding issues, he said, is that there are 400 fewer air traffic controllers employed today than during the shutdown during Trumps first time in office. Controllers are resigning every day now because of the prolonged nature of the shutdown.
And following the 2019 shutdown, it took up to two and a half months for these employees to get their back pay, Daniels told CNN.
President Donald Trump threatened on Monday to dock the pay of those air traffic controllers who have called out during the shutdown with a blanket instruction to report to work immediately. The president also said he would recommend a bonus of $10,000 for those air traffic controllers who didnt take any time off during the shutdown in a post on Truth Social.
Trump also went so far as to encourage some government employees to quit. If you want to leave service in the near future, please do not hesitate to do so, with NO payment or severance of any kind! he wrote.
FOCUS ON THANKSGIVING
Air travel disruptions have been an increased focus of his administration in recent days. On Sunday, Transportation Secretary Sean Duffy issued a dire outlook, warning that a substantial number of Americans wont make it home for Thanksgiving on Nov. 27. In 2024, AAA projected that 5.84 million would fly domestically for the holiday, about 7% of the total number of travelers.
Another aviation and aerospace trade group, Modern Skies, put this years Thanksgiving travel estimate much higher, at 31 million. In an open letter to Congress on Tuesday, the group of 50-plus aviation and aerospace companies, organizations, and unions, urged an immediate end to the shutdown.
The job of keeping aviation safe and secure is tough every day, but forcing federal employees to do it without pay is unacceptable, Modern Skies said in the letter published in The Washington Post. Without immediate government action, the federal employees charged with the safety of our aviation system are missing paychecks again this week.
WIDESPREAD DISRUPTIONS
During the shutdown that has stretched on for six weeks, more than 5 million travelers have been affected by airline staffing issues, according to Airlines for America. Reductions to flight capacity at 40 major airports began last week, with the amount expected to ramp up to 10% by this Friday.
But cancellations have already topped that amount according to reporting by CNBC. On Sunday, 10.2% of scheduled flights were cancelled, followed by 8.7% on Monday, the news outlet reported, citing data from aviation-data firm Cirium.
Though the strain of the government shutdown has been widespreadincluding halting SNAP benefits for 41 million Americansits been especially evident at airports. It took as long as three hours last week for travelers to get through the TSA lines at the Houston airport, according to reporting by CBS News. And a video went viral in recent days of a frustrated pilot who works for Southwest Airlines urging passengers on a flight to call their senators to end the shutdown.
The House of Representatives could vote on the legislation approved by the Senate to end the shutdown as soon as Wednesday, following the Veterans Day holiday.
You may see more smiles next time you walk into a Target. That’s because the big box retailer is hoping to provide an “elevated” customer experience with it’s new “10-4” policy, requiring staffers out on the floor to smile, wave, and welcome customers within 10 feetand greet those just 4 feet away, USA Today reported.
Fast Company has reached out to Target for comment.
The policy comes less than three weeks before Black Friday, the day after Thanksgiving, which officially kicks off the busiest and most profitable time of the year. Many stores, including Target, have already begun to roll out their Black Friday sales this year.
Target’s early 2025 Black Friday sales first dropped the first week in November and continue this month online, with week-long deals every Sunday through December 24. That’s as two-thirds of Americans plan to start holiday shopping before Black Friday this year, according to August data from consulting firm McKinsey & Company.
Looking ahead, Target’s official Black Friday sale drops online on Thanksgiving day, Thursday, November 27 and in-store on Friday, November 28, ending on Tuesday, December 2.
Shares of Target (NYSE: TGT) were up nearly 1% in midday trading at $91.40.
Target financials
Target Corporation’s second quarter earnings results beat expectations with $25.21 billion in revenue, versus an expected $24.93 billion, and earnings per share (EPS) of $2.05 versus an expected $2.03.
However, it posted in-store and online traffic declines due both to inflation and consumer economic concerns, as well as boycotts triggered by its rollback on DEI.
The Minneapolis-based retailer announced in October it was cutting 8% of its corporate workforce, or 1,800 positions.
Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter.
Speaking at ResiDay 2025 on Friday, FHFA Director Bill Pulte broke news, stating that Fannie Mae and Freddie Mac will remain in conservatorshipeasing industry fears that an exit could put upward pressure on mortgage rates. Instead, he said the government plans to sell up to 5% of their shares back to the public. Pulte added, I anticipate that the president will make a decision either this quarter or early next year as it relates to the IPO.
Pulte wasnt done breaking news. Amid strained housing affordability, President Donald Trump and Pulte announced on X.com on Saturday that theyre working on a 50-year mortgage option to help lower some homebuyers initial monthly payments.
For todays piece, Im going to run through 11-data backed thoughts on 50-year mortgages. Before we get into the article, we should note that we dont know the finer details of the option nor if theyll actually go through with it.
1. A 50-year mortgage would come with a higher interest rate
Lenders charge more for longer-term loans because they take on additional risk. The further out the repayment period stretches, the greater the uncertainty around inflation, interest rates, and credit risk. Historically, the 30-year fixed mortgage rate has averaged about 57 basis points higher than the 15-year rate. If a 50-year option were introduced at scale, borrowers could expect an even steeper premiumlikely adding another fraction of a percentage point to the rate in exchange for lower monthly payments.
2. Logan Mohtashami estimates that a 50-year mortgage would carry a rate roughly 42 to 57 basis points higher than the 30-year
Logan Mohtashami, lead analyst at HousingWire, tells ResiClub that he estimates that a 50-year mortgage would carry an interest rate roughly 42 to 57 basis points higher than the standard 30-year fixed mortgage.
The average 30-year fixed mortgage rate, as tracked by Freddie Mac, came in at 6.22% last week. At that level, the average 50-year fixed mortgage rate would be somewhere between 6.64% to 6.79%, assuming Mohtashamis additional premium is correct.
3. The monthly principal and interest on a 50-year mortgage would be a little less than on a 30-year
The core appeal of a 50-year loan is obvious: lower monthly payments. Stretching the repayment period over half a century spreads the same principal across 20 additional years, trimming the monthly cost. For example, on a $400,000 mortgage with a 6.22% interest rate, the monthly principal and interest payment would be roughly $2,455 on a 30-year mortgage. A 50-year mortgage at a 6.64% interest rate would lower that to around $2,297a savings of about $158 per month, or roughly 7% less.
That could be meaningful for some homebuyers on the edge of affordability.
However, its far smaller than the monthly payment reduction that comes from moving from a 15-year mortgage to a 30-year mortgage.
I truly empathize with the challenges that young homebuyers face as they embark on their journey to purchase their first home. They finance over 90% of their home purchases, and mortgage rates remain high compared to what they saw from 2011-2022. I applaud the administrations efforts to support young homebuyers this year; their intentions are commendable.
Nevertheless, I worry that raising loan amortization will create other challenges. Higher levels of total interest payments and less equity buildup, all for just a few hundred dollars in savingssomething a mere 0.50% to 1.00% decrease in mortgage rates could achieve instead from today’s levels It’s important to recognize that the housing market is already heavily subsidized through the 30-year fixed-rate loan and favorable tax policies.
As the market naturally shifts toward favoring buyers, we are seeing an increase in supply and a slowdown in [home] price growth. Historically, this is how the [housing] market has found its balance in other periods after big increases in prices such as we saw from 1943-1947 and 1974-1979the aftermath of those periods didn’t have a housing bubble crash in prices, but in time affordability did get better.
– Logan Mohtashami, lead analyst of HousingWire, tells ResiClub
My sense is that this is mostly policy theater. The fact is that prices and rates are high and theres not much policy can do about that. Shifting from an already very long 30-year term to 0-year would be pretty marginal for monthlies and would of course do nothing to help lower down payments.
– Housing analyst Aziz Sunderji, the founder of Home Economics, tells ResiClub
4. A borrower would pay substantially more in total interest using a 50-year mortgage
The total interest paid over 50 years balloons. On that same $400,000 loan example, a 30-year borrower would pay roughly $483,000 in interest by the time its paid off. A 50-year borrower? Closer to $980,000roughly half a million dollars more in financing cost. That gap is the trade-off between short-term affordability and long-term efficiency. The 50-year mortgage dramatically slows the pace of principal repayment, meaning homeowners stay leveraged for longer and build wealth through amortization much more slowly.
5. The vast majority of 50-year borrowers wouldnt actually stick around for 50 years
A common online criticism of the 50-year mortgage is that it would leave borrowers paying well into retirementor possibly never living to see the loan fully paid off. Im not going to say thats an invalid concern. But its important to keep in mind that most mortgages already dont reach full term. Even with a standard 30-year fixed mortgage, few homeowners stay put long enough to make the final payment. The typical U.S. homeowner stays in their house for 11.8 years, according to Redfin.
6. A 50-year mortgage borrower builds equity much slower
In the early years of any mortgage, most of the payment goes toward interest. Stretch that loan to 50 years, and it takes much longer before principal repayment meaningfully accelerates. In the hypothetical above, after 10 years, a 30-year borrower will have paid off roughly 20% of their balance. The 50-year borrower? Only about 9%. That means homeowners could feel stuck for longerparticularly if home prices flatten or dip. It could also make refinancing or selling in the early years trickier, since equity cushions take more time to form.
7. If the 50-year borrower invests their monthly payment savings, it makes up for some of the slower principal payoff
There is a counterargument: If 50-year borrowers invest their monthly payment savings (the difference between what theyd pay for a 15-year or 30-year mortgage), those returns could help offset the slower equity build. In a ResiClub analysis, assuming a $400,000 mortgage, 2% annual home price appreciation, and 7% annual investment returns, the 50-year borrower who invests their monthly savings does start to narrow the gap over time. The 15-year borrower builds wealth fastest through home equity, but over decades, the invested difference can partly close the wealth delta. Of course, that requires actually investing the savings.
8. In a weak home price appreciation market, a 50-year mortgage is less appealing
If home price growth remains modest for the rest of the decade while national affordability slowly improves, the 50-year mortgage becomes less appealing, according to ResiClubs analysis. In a higher home price growth environmentlike the 2012 to 2022 perioda 50-year loan becomes more compelling for borrowers whose choice is either buying with a 50-year mortgage (because they cant afford a 15- or 30-year option) or continuing to rent and build no equity at all.
9. Rolling out a 50-year mortgage could create some additional housing demandbut its unlikely to be anything dramatic
A 50-year mortgage could pull a modest number of buyers off the sidelines. But dont expect a huge housing demand surge. Given the math and housing backdrop (soft national levels of appreciation), the product would likely remain niche.
10. The public isnt crazy about the idea
Early polling suggests the 50-year mortgage isnt winning hearts. In a ResiClub poll conducted November 8, 2025, over 2,300 respondents on X.com weighed in on the Trump-Pulte announcemnt. A majority said their reaction was either unfavorable or very unfavorable.
11. The lackluster public response to the 50-year mortgage rollout decreases the likelihood of it happening
Without strong political or market enthusiasm, the odds of a true nationwide 50-year mortgage rolling out in the next few months remain low. For it to gain traction, it would require both regulatory approval and political will. The administration tested the watersand given the response, it may stop short of fully implementing it.
Retirement saving requires key decisions: when to start, how much to save, and where to invest. The investing decision has drawn more attention as government regulators work to open 401(k) plans to alternative assets such as private market investments.Below, we compare the paths of two hypothetical retirement savers and their outcomes.
A tale of two retirement savers
Laura and JR are two 25-year-olds newly employed at the same company, in the same role.
Step 1: Deciding to Save
On her first day at work, Laura committed 10% of her $75,000 salary to her 401(k). That earned her company’s 3% annual match (it matches 50% up to 6%), and 13% in total savings. She still had room in her budget for weekends filled with activities.JR was more worried about now. Rather than putting money into a 401(k) he wouldn’t touch for decades, he enjoyed his $75,000 salary. Five years later, JR began to build his nest egg. He opted for the minimum contribution rate to qualify for the company match, contributing 6% with a 3% match.
Step 2: How to Invest
Laura and JR’s employer offered many investment vehicles, including target-date funds. One invested only in public stocks and bonds; the other kept a 15% allocation to private equity and private credit across the glide path.Laura preferred the public-only target-date fund for its simplicity and transparency. JR was also drawn to the target-date options and their ease of use. However, he went with the private market option since it promised higher returns, and to make up for his late start. He figured he could quickly recover five years of missed contributions, given that he had 35 years until retirement.
From earnings years to retirement
Laura and JR both rose steadily to senior management positions. Their career progression and their salaries stayed in tandem. By the time they were turning 65 and approaching retirement, each was earning $178,620 a year. There had been no changes to their 401(k) contribution rates or their company’s matching formula. As Laura and JR prepared to retire, they reviewed their 401(k)s.For JR, the target-date fund with private markets had paid off. Over 35 years of investing, the fund delivered an annualized return of 8.9%, compared with 8.4% for the public-only option. This left him with a balance of about $2 million. Combined with Social Security, JR felt that he could enjoy retirement without the risk of outliving his savings.The public-only TDF underperformed compared with the private markets TDF, but Laura didn’t mind. Over 40 years of investing, her 401(k) account balance grew to more than $3 million. By starting earlier and contributing more, she harnessed the power of compounding returns to a much greater extent than JR had.JR’s private markets sleeve gave him a small edge, but Laura’s decision to start saving earlier and save more made the real difference. Compounding did the rest, turning her steady contributions into a balance far larger than JR’s.The bottom line: It is far better to focus on how much to save and when to start saving, instead of the whims of the public and private markets.
Behind the curtain
In illustrating the importance of saving early and saving more, we had to make several assumptions. We assumed that Laura and JR earn the same salary and stay at the same employer for their entire careers, with no breaks in employment. We assumed stocks, bonds, and private markets all delivered the long-term return expectations set by Morningstar Investment Management. It’s not a given that a target-date fund with a 15% allocation to private markets would outperform a similar strategy focused solely on public stocks and bonds, especially after fees.There is debate about whether private equity funds outperform their public counterparts. A Morningstar analysis concluded that private equity funds are best thought of as another form of active management, where a handful of funds may significantly outperform their peers, but median returns are similar (or worse) to public market funds.Moreover, private markets present additional challenges for forecasting due to the heterogeneity in the underlying investments. The results should be viewed as more of a best-case scenario for target-date funds with private market exposure.
This article was provided to The Associated Press by Morningstar. For more personal finance content, go to https://www.morningstar.com/personal-finance
Jason Kephart, CFA, is a senior principal, multi-asset strategy ratings, for Morningstar.Spencer Look is an associate director, retirement studies for Morningstar Investment Management LLC.
Samantha Lamas is a senior behavioral insights researcher for Morningstar.
Jason Kephart, Spencer Look, and Samantha Lamas of Morningstar
After enough Democrats caved this week and agreed to fund the federal government without guarantees for extending healthcare subsidies for tens of millions of Americans, a big question on the minds of many is Will my health insurance premiums go up?
Unfortunately, the answer is likely to be a resounding yes, according to data compiled by the Kaiser Family Foundation (KFF), the nonprofit health research institute.
Heres how much more individuals and families of four can expect to pay for their healthcare premiums in 2026, unless Republicans decide to extend Affordable Care Act (ACA) enhanced premium tax creditssomething the majority of GOP congresspeople have repeatedly said they have no plans to do.
Why are healthcare premiums likely to rise in 2026?
Yesterday, eight Democratic and independent senators who are not up for reelection in the midterms next year voted to support a Republican Senate resolution that would fund the federal government and thus end the longest U.S. government shutdown in history.
However, the agreement did not include the primary thing that Democrats had been holding out for: an extension of the Affordable Care Acts (ACA) expiring enhanced premium tax credits.
This is a credit that millions of Americans received from the federal government to help pay for the cost of Americas expensive healthcare premiums.
As part of the deal to reopen the government, the Senate Democrats got the Republicans to agree to a vote on extending healthcare credits before the end of the year.
But that is hardly a concession, as with the government now looking set to reopen (the House still has to vote), Democrats have no leverage over their Republican counterparts to compel them to vote in favor of the tax credit extension.
Without the extension of the tax credits, tens of millions of Americans will pay more for their health insurance in 2026and in many cases a lot more. The increased financial burden will significantly affect already cash-strapped Americans.
How much more the average American will have to pay for their already costly healthcare will depend on their income level.
How much health insurance premiums will rise for individuals
According to KFF data, individuals can expect to pay up to $1,836 more per year for their healthcare premiums. Heres how that breaks down by income level:
$18,000 (115% of the Federal Poverty Level): $378 more
$22,000 (141% FPL): $794 more
$28,000 (179% FPL): $1,238
$35,000 (224% FPL): $1,582
$45,000 (288% FPL): $1,836
$55,000 (351% FPL): $1,469
$65,000 (415% FPL): Varies
How much health insurance premiums will rise for a family of four
The dollar amount increases for families of four are even worse, according to KFF. Families of four can expect to pay up to $3,735 more per year:
$40,000 (124% FPL): $840 more
$45,000 (140% FPL): $1,607
$55,000 (171% FPL): $2,404
$75,000 (233% FPL): $3,368
$90,000 (280% FPL): $3,735
$110,000 (342% FPL): $3,201
$130,000 (404% FPL): Varies
As KFF notes in its report, In other words, expiration of the enhanced premium tax credits is estimated to more than double what subsidized enrollees currently pay annually for premiumsa 114% increase from an average of $888 in 2025 to $1,904 in 2026.
Non-ACA health insurance premiums will likely rise
Its not just the ACA. Americans with employer-based health insurance will likely also see their premiums increase in 2026. According to an NPR report, many employees could see their paycheck deductions for employer-sponsored health care plans surge by 6% to 7% in 2026.
Unfortunately, this should come as little surprise, as employer-based healthcare premiums have been surging for more than 25 yearsfar outpacing the rate of inflation.
As NPR noted, in 1999, the average employer-sponsored health insurance plan for a family of four had a premium cost of $5,791. By 2024, that premium had skyrocketed to $25,572a 342% increase.
Public opinion overwhelmingly supports ACA tax credit extension
A KFF poll published on November 6 found that Americans on both sides of the political spectrum support extending the enhanced premium tax credits, including 94% of Democrats, 76% of independents, and 50% of Republicans.
Even 44% of MAGA supporters support the tax credit extension. That number jumps higher among Republicans who dont identify as MAGA, with 72% of non-MAGA supporters among Republicans and Republican-leaning independents supporting the extension of credits.
Politicians in Congress will have to answer to those same voters come the midterms next year, when many Americans will be feeling the impact of higher premiums.
To the uninitiated, the term Scope 3 might sound like an obscure technical label. However, for those managing corporate carbon emissions, the term can inspire a range of emotions, from dread to dismay.
Scope 3 emissions are generated by indirect upstream and downstream operations, and typically account for the largest share of a companys carbon footprint. They also lie outside the organizations direct control. Although one of the sustainability agenda’s most daunting items, technology can provide solutions to the Scope 3 challenge.
There’s mounting pressure to tackle these emissions, as institutional investors such as pension funds pay close attention to the climate footprint of their portfolio’s companies. Better-informed consumers seek out more sustainable choices and reward those choices with shifted brand loyalty. And around the world, governments are tightening regulations on emissions levels and climate disclosure requirements.
The elusive, indirect nature of Scope 3 emissions
Because they are indirect, Scope 3 emissions are extremely difficult to capture, analyze, and report on. These emissions are generated by everything from the extraction of raw materials to manufacturing, logistics, and distribution. They’re emitted during customers use of products and the processes needed to reuse, recycle, or dispose of items.
Without the right software and systems, measuring and managing these emissions means engaging with hundreds of supply chain partners, each with different data formats and methods of carbon footprint accounting. It’s time-consuming and can lead to inaccuracies. Many supply chain operators struggle to integrate emissions and waste data into their own systems, much less those of suppliers and customers.
While supplier surveys are one way to collect supply chain data, survey fatigue is a significant concern. Supplier data is often unreliable or backward-looking and cannot be used to inform real-time sustainability decisions, minimize future emissions, or design strategies that accelerate progress toward sustainability goals.
The turn to tech
Fortunately, there are solutionsand technology plays a critical role. A network-based software platform can track and monitor all activities and events across the supply chain, including those from multiple suppliers and customers, in real-time. Here are three ways in which technology can help.
1. AI-driven data management for performance data
Using artificial intelligence, procurement and transportation activity data from disparate sources can be consolidated and translated into emissions performance data. This provides the reliable, timely, and accurate information needed to manage and reduce Scope 3 emissions, fulfill sustainability reporting requirements, and optimize supply chain efficiency.
Visualizing emissions levels across the supply chain, companies can evaluate trade-offs between sustainability and traditional supply chain performance indicators. In short, carbon efficiency becomes a key factor in decision-making. Supply chain partners also gain a better understanding of their carbon footprint, enabling them to meet their own emissions goals.
2. Network-powered platforms for end-to-end visibility
When managing something as complex as Scope 3 emissions, end-to-end supply chain visibility is critical. A network-based software platform achieves this by bringing together data from multiple organizations, enabling carbon emissions modeling and supply chain optimization.
This approach enables smarter decisions on everything from raw material sourcing to supplier and distribution partner selection, reducing value-chain energy and waste. Companies work with distribution partners to reduce partially filled or empty trucks and to design more fuel-efficient routes for lower Scope 3 emissions.
Companies can select supply-chain partners with the most carbon-efficient operations, equipped to measure and share their emissions data. Identifying carbon hotspotswhether by product type, raw material, or geographic locationenables supply chain element design or reconfiguration to account for emissions levels.
3. Forecasting and returns management technology to reduce waste
Scope 3 emissions are embedded in the things companies sell and dont sell. Overproduction and the creation of excess inventory lead to products unsold or in landfills, increasing waste and generating unnecessary energy consumption for manufacturing and transport.
Demand forecasting technology enables companies to produce more informed forecasts, allowing them to more accurately predict demand, anticipate fluctuations, and optimize production and inventory management. They’re therefore more likely to meet waste and sustainability goals regulations.
Meanwhile, data-driven reverse logistics simplifies the process of retrieving and remerchandising returned goods. These solutions accelerate returning products to the shelf to be sold at full price rather than being discounted or worse, discarded as landfill. Returns processing can also reroute damaged or obsolete returned products into recommerce channels.
Seize the decarbonization advantage
Operational efficiency in supply chains is all about working with partners, and carbon efficiency is no different. Technology is the connective tissue that, by consolidating data from a wide range of organizationssuppliers, shippers, warehouse operators, retailers, and othersenables smart planning, global coordination at scale, and enhanced supply chain optimization.
The task may look daunting, but technology makes it eminently possible to manage Scope 3 emissions. And with supply chain emissions responsible for over 50% of the global total, companies using streamlined data and digital tools to tackle emissions can gain a decarbonization advantage. Not only will the companies meet their sustainability goals, but they’re strategically positioned as a leader in a low-carbon economy.
Saskia van Gendt is the chief sustainability officer at Blue Yonder.
