October 2, 2026
Bonus Content: McKesson Just Locked In Six More Years With CVS Health
Dear Reader,
More than 60,000 Americans now live in a place with “the exoticness of a top-tier European city”.
What’s the attraction?
According to the BBC, this city offers:
“the cafe culture of Paris… the cuisine of Milan… and [fun] of Madrid…“
…but at a massive discount to any of those cities.
It turns out there’s a lesser-known corner of the world where Americans are retiring in European-style luxury and refinement – without breaking the bank.
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Because the area was settled by French, Italians, and Germans 150 years ago, this retirement haven feels like some of the richest places in Europe…
Think cities like Paris…towns like Cannes on the French Riviera…or villages that could be straight from the banks of the famous Lake Como in Italy.
Places where you can stroll along seaside promenades and marinas docked with shiny white yachts, fine Italian dining, and even spot celebrities and royalty vacationing here.
But again, this destination is incredibly affordable…everyday Americans can take advantage and live a life full of adventure and culture without a big retirement account.
Click here now to learn where this is possible.
Sincerely,
Jennifer Stevens
Executive Editor, International Living
P.S. If you dream of a cultured European retirement but can’t imagine affording a retirement in cities like Paris and Rome, then you’ll want to hear this…
There’s a hidden corner of the world where American expats are using a strong dollar to buy a life of European refinement for much less than it would cost on the old continent.
McKesson Just Locked In Six More Years With CVS Health
Most investors ignored McKesson on Thursday. That was probably a mistake.
McKesson shares rose 4.4% after announcing an extended pharmaceutical distribution agreement with CVS Health through June 2032. The broader market barely moved. The divergence is worth understanding, because what McKesson actually did was remove one of the few genuine uncertainties sitting in front of a very predictable earnings stream.
What Changed, and Why It Matters
McKesson signed an agreement in principle to extend a major national pharmaceutical distribution relationship through June 2032, extending an agreement that otherwise would have expired in 2027. The longer term gives McKesson greater visibility into a large customer relationship as it manages pharmaceutical inventory, transportation, and distribution capacity.
The company will continue distributing pharmaceuticals to CVS Health’s mail-order and specialty pharmacies, retail pharmacies, and distribution centers. The partnership between the two companies has existed for more than 25 years. Extending it another five years past 2027 is not a headline-grabbing strategic pivot. That is precisely the point.
Long-term wealth is rarely built on pivots. It is built on businesses that can tell you, with reasonable confidence, what they will earn three years from now. McKesson just made that case easier to make.
The Earnings Anchor
Alongside the announcement, McKesson reaffirmed its earnings per share forecast for fiscal year 2027, targeting a range between $44.20 and $45.00, and reiterated its commitment to a long-term adjusted EPS growth rate of 13% to 16%.
That guidance did not arrive out of thin air. McKesson delivered adjusted earnings per diluted share of $9.93 in its fiscal first quarter, a 20% increase year over year. Oncology and multispecialty revenues climbed 33% to $14.22 billion in that quarter, while adjusted operating profit increased 41% to $405 million. The CVS contract sits on top of a business that is already accelerating.
As North America’s largest pharmaceutical distributor, McKesson delivers roughly one-third of all medicines used in North America. Scale at that level does not erode quickly, and a six-year distribution contract with one of the country’s largest pharmacy networks reinforces it further.
Where This Fits in a Portfolio
McKesson is not a growth stock in the conventional sense. It operates on thin margins across enormous revenue volumes, and its competitive advantages are built on logistics infrastructure and long-term customer relationships rather than intellectual property or brand loyalty. Those are slower to assemble and harder to displace than they might appear.
McKesson’s board approved a 15% increase to the quarterly dividend, to $0.94 per share, marking the tenth consecutive year of dividend increases. Combined with an active share repurchase program, the capital return profile rewards patient holders.
The CVS extension does not transform McKesson’s investment case. It confirms it. Investors looking for visible earnings growth, a defensible market position, and a management team willing to return capital consistently now have one fewer renewal risk to price in. That kind of certainty, secured through 2032, is exactly the foundation long-term portfolios are built on.
Risks to Monitor
McKesson noted in its forward-looking statements that the agreement in principle could face delays in reaching a definitive contract, and the parties might fail to sign a definitive contract for the term extension. That caveat deserves attention. Until a final long-form contract is signed, the announcement carries residual execution risk. Drug pricing pressure from Washington and continued margin compression in medical-surgical supplies are ongoing headwinds regardless of the CVS relationship.
The Wealth Takeaway
Boring, visible, and durable beats exciting and uncertain over a decade. McKesson extending its CVS partnership through 2032 is a reminder that the most reliable wealth-building investments often look like nothing happened at all, right up until the stock quietly adds 4% on an otherwise flat day.
