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From ancient civilizations and medieval nobility to modern investors, gold has remained one of the most high-demand assets in human history. The precious metal is considered a store of value with its price stability offering a safe haven for investors and collectors alike.
There are numerous ways to add the precious metal to an investment portfolio, from purchasing physical gold to investing in gold-backed securities. As an investor, you need to determine which approach is the best fit for you given your unique financial situation — and whether investing in gold makes sense for you at all.
If you’re wondering if gold is a good investment, this comprehensive guide will explain how to invest in physical gold, gold mining stocks, gold exchange-traded funds (ETFs and mutual funds and gold individual retirement accounts (IRAs). We survey the advantages and disadvantages of each, and you’ll gain insight into gold prices and how to choose an appropriate investment strategy tailored to your needs.

What is the best way to invest in gold?
There are several ways you can invest in gold, each of which has advantages and disadvantages. It is crucial to carefully evaluate your investment goals before determining which option is best for you. Factors like your timeline until retirement, anticipated income needs (keeping in mind that gold typically does not generate income until you sell it) and your overall risk tolerance should be considered. Also, be mindful that investing in gold is typically not a good short-term strategy as the precious metal performs best in a portfolio when it is held as a long-term investment.
Investing in physical gold
Physical gold includes anything from gold bullion — investment-quality gold with a purity of 99.5% (995) in the shape of bars, ingots, coins or rounds — to jewelry and other collectibles. There are many reputable dealers, custodians and depositories that can help you purchase the physical gold assets and securely store it.
To learn more about reputable sellers, read our guide to the best online gold dealers.
One advantage to investing in pure gold is that there’s robust global demand and transparent pricing. The spot price of gold is the current price at which gold trades internationally, making it easy for investors to know how much their gold is worth in real time. Furthermore, if you’re not interested in paying recurring fees for custodians and depositories, owning physical gold comes with the option of securing it yourself, thereby allowing you to hold the asset in your hands and even trade it face to face, which is appealing to some investors.
On the other hand, purchasing physical gold has its risks and drawbacks. For one, verifying the purity of the precious metal can be difficult, so it’s crucial to ensure you buy from reputable dealers, whether you’re purchasing coins or jewelry in person or via an online metals broker. Additionally, you may have to pay other fees like transaction, processing, insurance and storage costs, which could reduce your overall return on investment.
Read our comprehensive guide on how to buy gold to learn more. If you’d prefer investing in gold through securities — rather than owning the physical metal itself — the following section discusses the various ways investors can add gold to their investment portfolios.
Investing in gold stocks
Stocks of companies focused on mining gold or licensing the rights to the gold at a mining site are another option for investors who want to invest in the precious metal without buying physical assets. These stocks include shares of companies that extract gold through mining — senior miners (well-established companies) or junior miners (startups) — or that finance gold production and/or secure the rights to gold at a mining site (gold streaming companies).
Although these companies should theoretically benefit from an increase in gold prices, some are better positioned to take advantage of higher prices, while others may weather downturns in gold prices more effectively. However, gold mining stocks experience greater volatility than physical assets; therefore, investing in gold stocks can make your portfolio subject to significant price fluctuations.
Additionally, unlike physical gold, which always retains some level of value, there’s a non-zero possibility that an investment in a gold mining company could become worthless if the company goes bankrupt or its mine ceases production. The latter is a valid concern as gold is a finite resource and peak gold — the date at which maximum gold extraction has occurred — is a future reality.
Pros and cons of investing in gold mining stocks

Pros

Some pay dividends, which you can’t earn with physical gold.
Some brokerages and investment apps make fractional shares available to customers.
The price appreciation of shares can be considerably higher than that of the underlying metal.

Cons

The price of gold stocks tend to be more volatile than gold itself.
Stock prices are susceptible to factors outside of the price of gold, like management decisions and broad market trends.
Shares of junior gold mining companies may not provide high liquidity.

Ways to invest in gold stocks
Buying gold stocks is relatively simple and can be done via a brokerage account with an online broker or an investment app. Once you add funds to your account, you can pick a gold mining stock and place a limit or market order.
Some of the major gold companies include:

Barrick Mining Corp (B)
Newmont Corp. (NEM)
Kinross Gold Corp. (K.TO)
B2Gold Corp. (BTO.TO)
AngloGold Ashanti Ltd. (AU)
Sibanye-Stillwater Ltd. (SBSW)
Dundee Precious Metals Inc. (DPM.TO)

It’s important to conduct thorough research by looking into each company’s financial strengths and weaknesses, and understanding the potential risks of investing in any particular gold stock before purchasing shares.
Investing in gold ETFs and mutual funds
For investors who don’t feel comfortable picking individual stocks, gold ETFs and mutual funds provide a way to invest in the gold with greater diversification than you could get by investing in individual gold stocks or by owning the physical metal. These funds can hold stock in gold mining companies or gold streaming companies, and in some cases, physical gold bullion itself, providing you with greater industry exposure and reduced risk since your investment is spread out across numerous holdings.
The funds’ prices are partially influenced by gold’s spot price but are also heavily dependent on how the companies among its holdings perform. Compared to buying individual gold stocks, gold ETFs and mutual funds are generally less volatile and can help you add liquidity and diversification to your portfolio without the risk associated with investing in a single gold mining or gold streaming company.
Gold ETFs
Gold ETFs can own physical gold, stock in companies engaged in gold mining and gold production or a combination of both.
Pros and cons of investing in gold ETFs

Pros

There’s no storage needed for physical gold holdings as ETFs’ gold is stored in vaults.
ETFs present simple, beginner-friendly options that offer exposure to the industry without having to own physical gold or individual gold stocks.
Gold ETFs generally have high liquidity, making buying and selling their shares easy.

Cons

ETFs charge expense ratios — fees investors pay annually for fund management, administration, marketing and other costs incurred.
Successful ETF investing requires some familiarity with the industry or sector the fund is leveraged to.
Gold ETFs experience more price volatility than the physical metal.

Ways to invest in gold ETFs
Investors buy shares in a fund via a brokerage, whether in-person or online. ETFs charge expense ratios — the fees assessed for management, administration and marketing — but they tend to be lower than the fees charged by mutual funds since most ETFs are passively managed.
Typically, expense ratios for ETFs are under 1%, meaning if you invested $1,000 in a fund with that rate, you’d be charged $10 annually. In some instances, gold ETFs will pay dividend yields that can more than offset the expense ratios they charge.
Some popular gold ETFs that trade on major exchanges include:

VanEck Gold Miners ETF (GDX)
SPDR Gold Shares ETF (GLD)
iShares Gold Trust ETF (IAU)
SPDR Gold MiniShares Trust (GLDM)
abrdn Physical Gold Shares ETF (SGOL)
GraniteShares Gold Trust (BAR)
VanEck Merk Gold (OUNZ)

Gold mutual funds
Gold mutual funds — like other mutual funds — pool money from multiple investors and are managed on your behalf in gold investments. They typically invest in gold mining or gold refining companies’ stock, though some own small amounts of gold bullion.
Mutual funds’ expense ratios are typically higher than those for ETFs because they’re usually actively managed, meaning there’s a fund manager or team of people conducting research, analyzing potential investments and then making investment decisions for the fund. Actively managed funds routinely charge 0.5%–1% annually and rarely exceed 2.5%.
Pros and cons of investing in gold mutual funds

Pros

You don’t have to research individual gold stocks.
Shares can easily be purchased through a brokerage or investing app.
Gold mutual funds generally have high liquidity, making buying and selling their shares easy.

Cons

Mutual funds’ expense ratios are typically higher than they are for ETFs.
The price of gold mutual funds can be more volatile than the price of physical gold.
Some mutual funds require minimum investment amounts, which can make them prohibitively expensive for some investors.

Ways to invest in gold mutual funds
Mutual funds can be purchased through a brokerage (in-person or online) or via online stock trading apps.
Some popular gold mutual funds include:

Sprott Gold Equity Fund (SGDIX)
Franklin Gold and Precious Metals Fund (FKRCX)
Gabelli Gold Fund Class AAA (GOLDX)
Invesco Gold and Special Minerals FD (OPGSX)
US Global Investors and Prec Mtls Fd (USERX)
First Eagle Gold Fund (SGGDX)
Van Eck International Investors Gold Fund (INIVX)
USAA Precious Metals and Minerals Fund (USAGX)
Fidelity® Select Gold Portfolio (FGDAX)

Investing in gold futures
Investing in gold futures can produce significant returns, but they’re also accompanied by much higher risk than gold stocks, ETFs and mutual funds. With gold futures, you agree to buy or sell a specific amount of gold at an agreed-upon price on a future date. Most people are unfamiliar with these types of investments, as they’re typically used by professional investors, seasoned traders and financial institutions.
Most people buying and selling these contracts are not interested in physical delivery of the gold but are trying to speculate on future price movements of gold. These contracts are highly leveraged, so small movements in the price of gold are magnified, which is why these instruments can be both potentially lucrative and very risky.
The contracts, whose value can also be settled for cash, can be traded among speculators who hope to make money by betting that the price of gold will increase or decrease in value before the settlement date. Futures contracts are usually for 100 troy ounces of gold, while their prices are quoted in U.S. dollars per troy ounce.
Pros and cons to investing in gold futures contracts

Pros

You can manage positions nearly 24 hours a day.
There is considerably high liquidity and low execution cost.
Gold futures can produce significant returns.

Cons

You can lose more than your original investment.
Gold futures are higher-risk investments.
Derivative contracts aren’t suitable for beginners.

Ways to invest in gold futures
In the U.S., gold futures are traded on the New York Mercantile Exchange (NYMEX). To buy gold futures contracts, you need a brokerage account with a full-service broker that supports futures trading, such as Charles Shwab or E*Trade. You can also open an account directly with CME Group, the derivatives marketplace that manages NYMEX.
Futures exchanges typically require traders to stake only a small fraction of the contract’s overall value to buy or sell a futures contract. However, if the contract falls or rises, the exchange can demand additional collateral on short notice. This feature of futures trading makes it possible to lose more than the initial amount of your investment — even before the settlement date of the contract — making it dangerous for most novice investors.

Investing in gold IRAs
A gold IRA is a special type of retirement account that allows investors to hold physical gold (and other precious metals like silver, platinum and palladium) via a gold dealer, custodian and depository. These self-directed IRAs, as the IRS classifies them, let people hold alternative assets like gold, cryptocurrency or real estate in a retirement account, which is not permitted with a traditional or Roth IRA.
However, similar to traditional IRAs, gold IRAs allow investors to make pre-tax contributions up to a certain amount each year. Growth is tax-deferred, and you pay taxes when you take distributions. There are also Roth versions of gold IRAs that allow investors to make post-tax contributions and make tax-free withdrawals at any point. Additionally, simplified employee pension plan (SEP) gold IRAs are available for self-employed individuals.
Pros and cons of investing in gold IRAs

Pros

Gold dealers work with IRS-approved gold custodians, which follow strict rules and guidelines.
Can help diversify your retirement portfolio, serving as a hedge against inflation or weakness in the U.S. dollar.
Some may let you roll over part of another IRA or 401(k).
Plans offer tax advantages similar to traditional and Roth IRAs.

Cons

Gold IRAs typically charge ongoing fees for account maintenance, storage and insurance.
They require higher initial purchase orders, which can range from $5,000 to $50,000.
This type of IRA requires you to start taking required minimum distributions at age 73 if you were born between 1951 and 1959 — or at age 75 if you were born in 1960 or later.

How to invest in gold IRAs
To buy gold in an IRA you need to open an account with a gold IRA company. Some popular gold IRA companies include:

Augusta Precious Metals
Orion Metal Exchange
Goldco
American Hartford Gold

Reputable gold IRA companies are typically transparent about their fees and offer unbiased educational resources and responsive customer support. They also feature intuitive account setup and options to rollover different retirement accounts. If you’re interested in opening a gold IRA, we recommend you check our guide on how to buy gold in an IRA.
Is gold a good investment?
Determining whether or not gold is a good investment depends on your broader investment goals. For some investors, gold may make sense as a hedge against market volatility or as a way to diversify a portfolio. For others, gold’s lack of income generation or inefficiency as a short-term investment could be dealbreakers.
The following sections explore some of the main advantages and disadvantages of investing in gold.
The pros and cons of investing in gold

Pros

As a tangible asset, gold cannot be defaulted on or printed out of thin air. It has intrinsic value and scarcity relative to demand.
Gold has historically been considered a safe-haven asset, meaning its price tends to increase when other markets are volatile or in decline.
Gold can diversify a portfolio and mitigate the risk of loss during economic downturns, as it can move inversely to stocks and bonds.
You can buy and sell gold in many different forms, including physical gold, stock, ETFs, mutual funds and derivatives.

Cons

Investments in gold have been greatly outperformed by stocks and other asset classes over the past several decades.
Although its price has been reasonably stable over longer periods, gold can be highly volatile in the short term.
Precious metals brokers charge markups from gold’s spot price, and investing in physical gold can also be expensive due to recurring storage and insurance costs.

Tips for making gold investments
The following section includes various tips about investing in gold and will help you get the most out of your assets while avoiding pitfalls that can cost you money.
Verify the purity of physical gold before purchasing it
When considering how to buy gold, verify that physical gold is of the proper purity and weight before purchasing it. Checking gold content or fineness is critical when buying gold bullion, coins or jewelry. This is why it’s important to buy precious metals from a reputable dealer. In other cases, you may want to have an independent third party, like a precious metals testing service, assess the purity of the gold.
Understand how gold prices work
Before investing, it is essential to have a working understanding of the numerous factors that can influence gold prices. Events or circumstances that can affect the spot price of gold include economic and geopolitical volatility, central banks’ policies, demand from industrial and investment markets, as well as supply fluctuations. Conducting your research before you buy can help you make informed decisions about the best times to buy or sell gold and gold-backed securities.
Choose an investment strategy
Before purchasing any gold-related investments, decide on an investment strategy. Figure out your time horizon, risk tolerance and whether you want to invest directly in physical gold or through other instruments like stocks and ETFs. If you need assistance, you can get investment advice from a financial advisor.
Note that any profits on gold investments are subject to capital gains tax, which can reduce overall returns. You owe capital gains tax when you sell an investment and make a profit. Short-term capital gains apply to profits realized on investments held for one year or less. These are taxed as ordinary income. Long-term capital gains tax applies if you hold an investment for more than a year and sell it for a profit.
If you choose to invest in physical gold, you’ll pay a higher long-term capital gains tax rate because gold is considered a collectible by the IRS. When you sell physical gold, your capital gains will be taxed at your marginal tax rate up to a maximum of 28%.
Thoroughly research gold mining companies
Conduct thorough research to make an informed decision before investing in the stocks of gold mining and gold streaming companies. This includes reviewing the company’s financial statements and filings with the U.S. Securities and Exchange Commission and other regulatory bodies, researching their management team, history, past performance, market capitalization and trading volume. Additionally, assess any sociopolitical or environmental risks related to their operations, which can be as simple as researching where their mines are located.

Summary of How to Invest in Gold
Gold has long been seen as a valuable asset due to its relative long-term stability and potential to gain value during times of economic or geopolitical uncertainty. However, it isn’t without its risks, including short-term volatility, a lack of income generation and the high cost to store and insure physical gold.
There are many ways to invest in gold, from buying the physical metal and purchasing stocks of companies associated with gold mining and production, to gold-leveraged mutual funds and ETFs. Options and futures contracts let sophisticated investors trade gold, but these derivatives carry substantially higher risk than other securities and aren’t suitable for most retail investors.
To determine what type of gold investments are right for you, consider the purpose of your investment, your risk tolerance and how much of your portfolio you want allocated to gold. Most financial advisors suggest no more than 10%.
More from Money:
Best Gold IRA Companies
Best Online Gold Dealers
Beginner’s Guide to Investing in Precious Metals

Scammers are trying to sell travelers something they can’t actually buy yet: permission to visit Europe.
While the European Union’s upcoming travel authorization requirement has been delayed until at least 2027, more than 150 fraudulent websites were found advertising advance applications to the program, according to a recent report from The Guardian. Americans who are unaware of the delay might apply through one of these sites, forfeiting their money and personal information.

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Under the to-be-launched European Travel Information and Authorization System (ETIAS), travelers from dozens of visa-exempt nations — including the United States — will need to obtain electronic authorization before entering 30 participating European countries. That includes common destinations like France, Italy, Spain and Germany, which collectively see about 24 million Americans visit every year.
The authorization will allow short stays of up to 90 days within a 180-day period and remain valid for three years or until the traveler’s passport expires. Once the program launches, applications will cost €20 (approximately $23) through the official European Union website. Travelers under 18 and over 70 will be exempt from the fee.
With confusion surrounding the program’s launch date, fraudsters are taking advantage of the uncertainty to lure travelers into scams.
Some of the websites where you can supposedly buy an ETIAS waiver closely resemble official EU government pages, using convincing web addresses, government-style layouts and even copyrighted EU materials to appear legitimate. Others provide misleading information about travel requirements or create a false sense of urgency, encouraging travelers to apply early.
The financial risks of applying for a travel authorization that doesn’t exist yet extend beyond losing 20-something bucks. Fraudulent operators may charge exorbitant processing fees while collecting sensitive information, including passport details and credit card numbers, that could be used for identity theft or additional financial fraud.
But not every third-party ETIAS website is necessarily fraudulent. Legitimate commercial intermediaries will eventually be allowed to submit applications on travelers’ behalf, although they may charge additional fees.
For now, however, no company can legitimately obtain an ETIAS authorization.
How to avoid ETIAS waiver scams
The most important precaution is to avoid paying for an ETIAS authorization until the program officially launches. Any website claiming it can secure your approval now is misleading you.
For updates on the program, visit the official ETIAS website. Once applications open, travelers will be able to apply directly through that site without paying unnecessary third-party processing fees. Be wary of lookalike web addresses, even if they feature official-looking logos or government branding.
Travelers should also remember that ETIAS is separate from the United Kingdom’s existing electronic travel authorization (ETA), which has its own application requirements and costs £20, or about $27.
If you’ve already paid a suspicious website, contact your credit card issuer to dispute the charge and ask whether your card should be replaced. And if you’ve shared sensitive personal information, visit IdentityTheft.gov for guidance on protecting yourself against identity theft.
For now, remember that Americans traveling to participating European countries don’t need an ETIAS authorization. The safest move is to wait for the official launch rather than pay a third party for a head start that doesn’t exist.

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Workers who leave money in their flexible spending accounts, or FSAs, are forfeiting hundreds of dollars per year.
The typical forfeiture was $404 in 2024, according to the latest data from the nonprofit Employee Benefits Research Institute, or EBRI. That represents a decline of $32 from $436 the previous year but marks the fifth consecutive year of average forfeitures exceeding $400.

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“The decline in average forfeitures is encouraging,” Jake Spiegel, senior research associate, health and wealth at EBRI, said in a news release Wednesday. “Still, the findings point to opportunities for employers to help workers better … manage unused balances.”
FSAs are a popular workplace benefit designed to let workers use pre-tax dollars to offset out-of-pocket healthcare costs, such as copays, prescription drugs and other medical expenses. More than 20 million workers are estimated to have a medical FSA.
Contributions into the accounts reduce taxable income dollar-for-dollar, and purchases made from FSAs are tax-free.
However, key drawbacks include that contributions are set by workers at the beginning of the year and are deducted from subsequent paychecks, requiring account holders to predict out-of-pocket medical expenses upfront. And, crucially, money left over in the account once the spending deadlines pass is forfeited back to the employer.
Employers can set their own FSA spending deadlines, but they usually come at the end of the calendar year. In some cases, employers allow a 2.5-month grace period, pushing the ultimate deadline to mid-March. Workers with FSAs should pay careful attention to spending deadlines, grace periods and reimbursement policies to ensure all eligible medical expenses are covered.
FSA forfeitures add up
EBRI’s research, which draws on its database of over 3 million FSA accounts, found that 4 in 10 FSA holders forfeited at least some of their contributions in 2024. Money previously calculated that workers have collectively forfeited between $4 billion and $5 billion of unspent FSA money per year in recent years.
Although workers can’t recover forfeited funds, the true financial loss is somewhat smaller than the dollar amount left behind, as the contribution to the account already lowered their taxable income. For example, a worker with a 12% federal income tax rate would receive a tax benefit of $120 for contributing $1,000 into an FSA.
Assuming the average forfeiture of $404, the net loss would be $284 in this case. For account holders in higher tax brackets, the tax benefit is higher, so it’s possible to forfeit some money and still come out ahead.
Regardless, forfeiting any money means the FSA holder is not getting the full benefits they’re entitled to, and the accounts have drawn scrutiny from health policy experts who question whether their tax advantages justify the costs.
Sherry Glied, a healthcare researcher and dean of New York University’s graduate school of public service, is an opponent of the accounts. She co-authored a 2024 study published by JAMA Health Forum that found the accounts lead to wasteful healthcare spending and represent a significant tax expenditure for the federal government due to the forgone revenue from untaxed income.
“FSA provisions certainly incentivize people to spend money on stuff they don’t really need,” Glied previously told Money. “They are total losers.”

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Personal finance expert Suze Orman has years of experience guiding people on how to make the most of their money. She focuses on debt reduction and the emotional side of money, and you may be able to better your finances by digging into her resources.
Like most personal finance gurus, not every rule Orman encourages will make sense for you. Here are four of her rules — two that make sense for most people, and two you may want to reconsider.

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2 rules to follow
1. Make sure you have an emergency fund
Orman is a big fan of establishing an emergency fund that can cover your monthly expenses should the unexpected happen, like you lose your job or face a surprise medical bill.
Financial advisors typically recommend having enough money in a liquid account, like a high-yield savings account, to cover your expenses for three to six months. But it depends on your circumstances: If you have unpredictable income streams or often incur medical or vet bills, you may want to save a bit more.
2. Maintain solid credit
Orman suggests prioritizing your credit score, which can impact how likely you are to be approved for loans and how much you’ll have to pay in interest. A high credit score makes it easier to get good terms on loans like mortgages and auto loans.
FICO scores (the most commonly used credit scores) of 670 to 739 are generally considered good, while 740 to 799 is considered very good and 800 to 850, excellent. Checking your credit report for errors, paying bills on time, having a mix of types of credit and getting a credit card are all ways to possibly boost your credit score.
2 rules you may want to rethink
As the name implies, personal finance is personal. It’s important to consider whether Orman’s next two rules actually make sense for you.
1. Avoid leasing a car
A house is likely the most expensive purchase you will make, but a car may be the second-largest purchase. Orman recommends never leasing a car since it requires that you make monthly payments on a car that you’ll never own. She said on CNN in 2023 that it was a “waste of money.”
Like with most financial decisions, it’s not black and white. Leasing a car may make sense for some people. The advantages include that you can drive a higher-priced car than you may be able to otherwise afford, and that you won’t have to go through the trouble of reselling. But on the flip side, you’re pouring money into something that’s depreciating in value and you risk facing charges if you want to get out of the lease early.
2. Rely on debit, not credit
Orman suggests keeping your credit card usage to a minimum to avoid credit card debt. She says to rely on debit cards, and only use a credit card for one or two recurring charges you can put on autopay.
The thinking is that you want to avoid credit card debt, which comes with high interest rates. But if you can pay your credit card in full each month, there are perks to using credit. The rewards programs that come with credit cards can help you save on travel, groceries and gas, for example. Plus, using a credit card helps you build credit, and they tend to offer better protection should someone get a hold of your card than debit cards, since they’re not linked directly with your account.

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You can claim Social Security as soon as you turn 62, but the actual planning should start earlier. In your 50s, Social Security decisions should start to take shape.
Delaying too long or not gathering the right information can result in a claiming decision that costs thousands of dollars later. These are some common Social Security mistakes people make in their 50s.

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Mistake 1: Never checking your earnings record
The earnings history recorded in your “my Social Security” account may have errors. It’s best to get these mistakes fixed while you are working with your current employer. That’s when it is easier to obtain any missing records compared to giving your boss a call shortly after you retire.
It’s also better to get these issues resolved early than it is to wait for them to get resolved at a time when you need to claim Social Security to keep up with living expenses.
Mistake 2: Assuming you’ll claim at 62
Although you can claim Social Security at 62, that doesn’t mean it’s the right move. You will get up to a permanent 30% reduction on your full retirement benefit if you claim that early. Plus, working a few extra years can improve your earnings history and give you the opportunity to pad your savings.
The Social Security Administration reviews your 35 highest-earning years when calculating your benefit. Working a little longer replaces some of your low-earning years with higher-earning years. That can work to your favor when Social Security averages out your 35 most productive working years.
Mistake 3: Retiring early without counting zero years
If you have not worked for 35 years, any missing years count as $0 and will weigh down your average. Some people work until they have 35 years that show income. Doing so can secure a higher Social Security benefit, and those extra years of working also result in your unclaimed benefit gradually increasing over time.
Mistake 4: Ignoring spousal and survivor rules
Social Security planning gets a little more complicated for couples. If one of the spouses did not work, they can still claim spousal benefits, which can be up to 50% of the working spouse’s full retirement benefit.
The non-working spouse can only claim Social Security after the working spouse has claimed their benefit. There is no incentive for the non-working spouse to wait after full retirement age since the spousal benefit does not compound after full retirement age. Regular benefits continue to grow if left unclaimed until the recipient turns 70.
Survivor rules are another factor. When a spouse passes away, the surviving spouse can get up to 100% of that spouse’s benefit if it’s higher than their current benefit. If the working spouse had a non-working spouse, it may make sense for the working spouse to claim benefits at 70 to maximize the survivor benefit.
It’s best to make a plan with your spouse in advance rather than scramble to come up with a plan as you both approach full retirement age or to do the planning on your own.
Mistake 5: Assuming that Social Security is disappearing
Social Security’s trust funds are expected to be depleted in 2034.
That doesn’t mean benefit checks would go away completely. It means that if Congress doesn’t act to address the funding shortfall, retirement and disability payments would be cut by 17% , according to the latest Social Security Trustees report.

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You’ll often hear that it’s best to put off claiming Social Security until age 70 so you can maximize your benefit. But that’s not the best decision for everyone.
When you should tap into your government benefits will come down to your specific circumstances, including your other sources of income, retirement savings and goals. It’s also important to consider your health, since it can take roughly a decade to break even, meaning that the value of waiting outweighs the financial benefit of claiming earlier.

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The break-even age
Your break-even age typically comes in your late 70s or early 80s.
The Social Security formula rewards longevity. People who live into their 90s are well-rewarded for waiting until 70 to claim Social Security. However, people who pass away in their early or mid-70s end up leaving money on the table by waiting to access benefits until turning 70.
When claiming earlier makes sense
A serious health diagnosis or a history of low longevity in your family may warrant claiming benefits early. It can also be more favorable to claim early if you are single and have no dependents who are relying on survivor benefits.
These factors may mean you should consider receiving Social Security early, especially if doing so can help you retire or shift to part-time work. An early claiming window can introduce more financial flexibility right now. The extra cash from a smaller benefit may be enough to achieve the same core goals that you can reach if you wait until age 70.
Not everyone has a substantial change to their monthly income by waiting until age 70, and some people have large enough nest eggs where they can make a lower government check work comfortably.
The exception: a spouse
Claiming Social Security gets a bit more complicated if you are the higher-earning spouse. The longer you work and delay benefits, the higher the survivor benefit will be in case you pass away before your spouse.
If your spouse is younger and has a better health history, it may be better to delay claiming Social Security for a few more years until you reach age 70. Not only do you secure a higher benefit when you claim, but you also give your spouse an extra layer of financial protection.
Speak with the professionals
It’s a good idea to speak with an expert such as a financial advisor to understand the right path for your finances. You can also ask your doctor for an honest outlook on your health to determine if you are likely to live well into your 80s. Then, run your financial numbers with a planner to assess the optimal time to take out Social Security.
Gather your expenses and figure out what your retirement costs will look like before committing to a claiming window.

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Average mortgage rates today

Mortgage Type
Label
Rate
APR

30-Year Fixed
Most Popular
7.12%
7.17%

30-Year FHA
Lower Credit
6.76%
7.95%

30-Year VA
Military
6.82%
6.99%

30-Year Jumbo
High Balance
7.42%
7.44%

15-Year Fixed
Shorter Term
6.48%
6.56%

7/6 ARM
Shorter Term
6.67%
6.75%

HELOC
Home Equity
8.02%
8.02%

Home Equity Loan
Home Equity
8.23%
8.23%

Updated on 10/22/2026

Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product details

Mortgage rates ticked lower again, with the 30-year fixed-rate loan averaging 7.17%, down 0.01 percentage points. Rates are holding in the low 7% range for now.
Key mortgage rate averages:

The 30-year fixed-rate mortgage averaged 7.17% APR
The 30-year fixed-rate FHA mortgage averaged 7.95% APR
The 30-year fixed-rate VA mortgage averaged 6.99% APR
The 30-year fixed-rate jumbo mortgage averaged 7.44% APR
The 15-year fixed-rate mortgage averaged 6.56% APR
The 7/6 adjustable-rate mortgage averaged 6.75% APR
The rate on a HELOC averaged 8.02% APR
The rate on a home equity loan averaged 8.23% APR

Mortgage rate trends
Mortgage rates are trending lower this week as housing starts and pending home sales showed weakness. At the same time, jobless claims were lower than anticipated, showing a stable labor market. Yields on the 10-year Treasury note have fallen nearly three percentage points since early October, pushing interest rates lower.
Despite the recent decline, rates remain above 7% and are likely to stay in that range. Inflation concerns and the rising national debt mean rates are unlikely to fall significantly in the near term.
Which loan is best for you?
When shopping for a mortgage, you may be offered several loan options to meet different needs. Here’s a rundown of the most common loan types you’ll find, and who they work best for.
30-year conventional mortgage: Conventional loans work best for borrowers who have a credit score above 620, have saved enough to make a down payment of at least 3% and are looking for flexibility in the type of property being purchased.
30-year Federal Housing Administration (FHA) mortgage: FHA loans are good for first-time homebuyers, borrowers with less-than-perfect credit scores or those with a high debt-to-income ratio.
30-year U.S. Department of Veterans Affairs (VA) loan: Specifically designed for active-duty and retired service members, members of the National Guard and Reserves, and surviving spouses. Offers 0% down loan options, competitive rates and accepts less-than-perfect credit scores.
30-year jumbo loan: Good for homebuyers purchasing property that is priced above the Federal Housing Finance Agency (FHFA) conforming loan limit. In 2026, that limit is $832,750 in most of the U.S. but increases to $1,249,125 in high-cost areas.
15-year fixed-rate loan: Borrowers who prefer a shorter loan term and can afford to make higher monthly payments will pay less overall interest with a 15-year mortgage and pay off the loan faster.
7/6 adjustable rate loan: Good for a buyer who wants to lock in a favorable interest rate for a set period of time and either plans on selling the home before the interest rate starts, is willing to make a higher monthly payment once the rate becomes variable or is open to refinancing the loan.
Home equity line of credit (HELOC): A good option for a homeowner who wants to access the equity they’ve accumulated in their home and have an open line of credit to use as needed.
Home equity loan: Another option for a homeowner who wants to access their home equity and have the financial capacity to take on a second mortgage.

How mortgage rates affect affordability
Your mortgage rate can make a big difference in how much home you can afford and how large your monthly payments are. That’s true whether buying your primary residence, an investment property or refinancing an existing loan.
Here’s an example. If you bought a $250,000 home and made a 20% down payment of $50,000, your starting loan balance would be $200,000. On a $200,000 home loan with a fixed rate for 30 years, here’s what you would pay:

At a 3% interest rate = $843 in monthly payments (not including taxes, insurance, or HOA fees)
At a 4% interest rate = $955 in monthly payments (not including taxes, insurance, or HOA fees)
At a 6% interest rate = $1,199 in monthly payments (not including taxes, insurance, or HOA fees)
At an 8% interest rate = $1,468 in monthly payments (not including taxes, insurance, or HOA fees)

Using a mortgage calculator lets you see how a lower rate or other changes could affect what you pay. A home affordability calculator can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The Consumer Financial Protection Bureau can also provide a range of rates lenders offer in each state.

Current mortgage rates FAQs
What is today’s current mortgage rate?
The average rate on a 30-year fixed-rate mortgage is 7.17% as of October 22, according to Money’s rate data. Other rate surveys show 30-year rates averaging above 7.3%.
What are mortgage rates today?
As of Oct. 22, the rate on a 30-year fixed-rate mortgage was averaging 7.17%, according to Money’s rate data. The average rate for a 15-year fixed-rate loan is 6.56%
Will mortgage rates get to 4% in 2026?
No, they won’t. The current average rate for a 30-year fixed-rate mortgage is 7.18%, and most housing experts expect rates to stay near or above 7% through year’s end.
How much is a $300,000 mortgage at 7%?
The monthly payment on a 30-year, $300,000 conventional mortgage at 7% is $1,995.91, excluding taxes, insurance and HOA fees. Your actual payment will vary depending on your credit score, down payment, lender and location, among other factors.

The exact point at which you should claim Social Security will depend on your specific financial situation. But one of the factors to consider is how much you have in your retirement savings accounts.
It’s important to consider how much your cushion will get whittled down over time as you cover living expenses and inflation eats away at your savings. Social Security can help, but it’s crucial to balance the 401(k) with a strategic claiming window. Here’s how to think about your claiming timeline if you have around $500,000 in your 401(k).

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The income math
A typical rule of thumb when it comes to withdrawals in retirement is to withdraw 4% of your savings portfolio, then adjust that amount for inflation in the following years. Using that common framework with a $500,000 portfolio only yields $20,000 per year, or $1,667 per month. That type of income doesn’t put most people in a position to leave their job.
Social Security can help, with the average benefit for retired workers reaching around $2,089 per month in September. That can bring total monthly income to around $3,756, which may still not be enough for many people. Your anticipated retirement budget and whether you have fully paid off your mortgage or other debt at this point will be decisive in determining if that’s enough to retire.
Waiting to access Social Security may make more sense than tapping into the government benefits as soon as you’re able, since you can secure higher checks the longer you wait until age 70.
The bridge strategy
The bridge strategy involves living off the 401(k) and other savings and investment accounts for a few extra years before tapping into Social Security. This approach results in a higher monthly benefit, but it drains your nest egg faster.
Once you take out Social Security, you can lean more heavily into the checks and potentially even reduce the withdrawal rate for your nest egg. Again, the strategy that makes most sense for you will depend on your specific situation. If you can, speak to a financial advisor when deciding when to claim Social Security.
Who should claim sooner?
Although you get the highest possible benefit at age 70, that’s not the route everyone should take. People who are in poor health or have shorter family life expectancies may want to consider taking out Social Security early. It can also make sense to claim Social Security early if you prefer to protect your 401(k) and allow it to keep growing over time.
Claiming Social Security early reduces your lifetime government checks, but it also provides more financial flexibility in the present. Immediate space in your budget may be more valuable than waiting a few years or draining your 401(k), especially during a market correction.
Don’t forget to consider taxes. A portion of your Social Security may be eligible for taxation, and retirement accounts face different tax treatments depending on the type of account they are.

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After stashing money away for decades and letting it grow in your investment accounts, retirement means it may be time to finally start making withdrawals. But while it can be exciting to reap the benefits of your hard work, it’s also important to stick to a plan.
You don’t want to take out too much money for your everyday expenses, travel and more and end up outliving your nest egg. Overspending too early can shrink your retirement runway and result in difficult decisions down the road. These are some red flags that you may be withdrawing too much from your retirement accounts.

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1. Your withdrawals exceed portfolio growth
The first red flag is if your withdrawal rate exceeds your portfolio’s growth rate. For instance, withdrawing 20% from your portfolio in one year is not advisable since very few portfolios can deliver a return above 20% each year. You might get away with this for one year, but if your withdrawal rate normally exceeds your rate of return, it can create problems in the future.
A general rule of thumb is to stick to a 4% withdrawal rate.
Investing in assets with high growth potential, like stocks, can increase your overall returns, but as your time horizon shrinks, it often makes sense to take some risk off the table. Stocks are generally considered more risky than bonds.
You can also help mitigate concerns around having to withdraw too much by keeping enough cash on hand to cover your living expenses. Financial advisors tend to recommend people have an emergency fund that will cover three to six months of their living expenses, but retirees likely want to boost that to one to two years of living expenses.
2. Your tax bracket creeps higher
Most people enter a lower tax bracket once they retire, even if they collect Social Security and a pension. Without a salary, there isn’t as much income to push you into higher tax rates.
If you end up in a higher tax bracket than you expected, it may be because you’re withdrawing too much money from your nest egg.
3. Your balance is dropping faster than projected
If your balance is dropping faster than expected, that’s another red flag. Consider whether your balance is declining quickly because you’re making excessive withdrawals.
Stock market corrections can also result in portfolios losing value. If volatility in the stock market is causing your balance to swing wildly, it may make sense to lower some of your stock exposure, since you don’t want to be forced to sell assets to cover your expenses when your balance has dropped.
Investors can modify and adjust their portfolios each year to ensure proper allocation across stocks, bonds and other assets. Investing in low-risk assets such as bonds can minimize your downside during market corrections.

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Average mortgage rates today

Mortgage Type
Label
Rate
APR

30-Year Fixed
Most Popular
7.14%
7.18%

30-Year FHA
Lower Credit
6.78%
7.98%

30-Year VA
Military
6.86%
7.03%

30-Year Jumbo
High Balance
7.45%
7.47%

15-Year Fixed
Shorter Term
6.48%
6.56%

7/6 ARM
Shorter Term
6.62%
6.7%

HELOC
Home Equity
8.02%
8.02%

Home Equity Loan
Home Equity
8.23%
8.23%

Updated on 10/21/2026

Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, LLC, NMLS# 1907, Equal Housing Opportunity, Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Rate and Product details

Mortgage rates retreated on Wednesday. The 30-year fixed-rate loan decreased to 7.18%, down by 0.03 percentage points. Rates fell after housing starts and pending home sales data showed a slump in housing activity.
Key mortgage rate averages:

The 30-year fixed-rate mortgage averaged 7.18% APR
The 30-year fixed-rate FHA mortgage averaged 7.98% APR
The 30-year fixed-rate VA mortgage averaged 7.03% APR
The 30-year fixed-rate jumbo mortgage averaged 7.47% APR
The 15-year fixed-rate mortgage averaged 6.56% APR
The 7/6 adjustable-rate mortgage averaged 6.7% APR
The rate on a HELOC averaged 8.02% APR
The rate on a home equity loan averaged 8.23% APR

Mortgage rate trends
Mortgage rates are trending lower this week as housing starts and pending home sales showed weakness. Yields on the 10-year Treasury note have fallen nearly three percentage points since the beginning of October, pushing interest rates lower.
Despite the recent decline, rates remain above 7% and are likely to stay in that range. Concerns over inflation and the rising national debt mean rates are unlikely to move significantly lower in the near term.
Which loan is best for you?
When shopping for a mortgage, you may be offered several loan options to meet different needs. Here’s a rundown of the most common loan types you’ll find, and who they work best for.
30-year conventional mortgage: Conventional loans work best for borrowers who have a credit score above 620, have saved enough to make a down payment of at least 3% and are looking for flexibility in the type of property being purchased.
30-year Federal Housing Administration (FHA) mortgage: FHA loans are good for first-time homebuyers, borrowers with less-than-perfect credit scores or those with a high debt-to-income ratio.
30-year U.S. Department of Veterans Affairs (VA) loan: Specifically designed for active-duty and retired service members, members of the National Guard and Reserves, and surviving spouses. Offers 0% down loan options, competitive rates and accepts less-than-perfect credit scores.
30-year jumbo loan: Good for homebuyers purchasing property that is priced above the Federal Housing Finance Agency (FHFA) conforming loan limit. In 2026, that limit is $832,750 in most of the U.S. but increases to $1,249,125 in high-cost areas.
15-year fixed-rate loan: Borrowers who prefer a shorter loan term and can afford to make higher monthly payments will pay less overall interest with a 15-year mortgage and pay off the loan faster.
7/6 adjustable rate loan: Good for a buyer who wants to lock in a favorable interest rate for a set period of time and either plans on selling the home before the interest rate starts, is willing to make a higher monthly payment once the rate becomes variable or is open to refinancing the loan.
Home equity line of credit (HELOC): A good option for a homeowner who wants to access the equity they’ve accumulated in their home and have an open line of credit to use as needed.
Home equity loan: Another option for a homeowner who wants to access their home equity and have the financial capacity to take on a second mortgage.

How mortgage rates affect affordability
Your mortgage rate can make a big difference in how much home you can afford and how large your monthly payments are. That’s true whether buying your primary residence, an investment property or refinancing an existing loan.
Here’s an example. If you bought a $250,000 home and made a 20% down payment of $50,000, your starting loan balance would be $200,000. On a $200,000 home loan with a fixed rate for 30 years, here’s what you would pay:

At a 3% interest rate = $843 in monthly payments (not including taxes, insurance, or HOA fees)
At a 4% interest rate = $955 in monthly payments (not including taxes, insurance, or HOA fees)
At a 6% interest rate = $1,199 in monthly payments (not including taxes, insurance, or HOA fees)
At an 8% interest rate = $1,468 in monthly payments (not including taxes, insurance, or HOA fees)

Using a mortgage calculator lets you see how a lower rate or other changes could affect what you pay. A home affordability calculator can also estimate the maximum loan amount you may qualify for based on your income, debt-to-income ratio, mortgage interest rate and other variables. The Consumer Financial Protection Bureau can also provide a range of rates lenders offer in each state.

Current mortgage rates FAQs
What is today’s current mortgage rate?
The average rate on a 30-year fixed-rate mortgage is 7.18% as of October 21, according to Money’s rate data. Other rate surveys show 30-year rates averaging above 7.3%.
What are mortgage rates today?
As of Oct. 21, the rate on a 30-year fixed-rate mortgage is averaging 7.18%, according to Money’s rate data. The average rate for a 15-year fixed-rate loan is 6.56%
Will mortgage rates get to 4% in 2026?
No, they won’t. The current average rate for a 30-year fixed-rate mortgage is 7.18%, and most housing experts expect rates to stay near or above 7% through year’s end.
How much is a $300,000 mortgage at 7%?
The monthly payment on a 30-year, $300,000 conventional mortgage at 7% is $1,995.91, excluding taxes, insurance and HOA fees. Your actual payment will vary depending on your credit score, down payment, lender and location, among other factors.