Author: Money Mechanics

Welcome to Kiplinger’s My First $1 Million series, in which we hear from people who have made $1 million. They’re sharing how they did it and what they’re doing with it. This time, we hear from a married 52-year-old health care worker in Houston who retired from the Army.See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.)Each profile features one person or couple, who will always be completely anonymous to readers, answering questions to…

Editor’s note: This article is part of an ongoing series on retiring abroad. To see all the articles in the series, jump to the end.Long gone are the days when Vietnam was solely associated with a prolonged war that embroiled the U.S., splitting it in two politically, and giving rise to the 1960s counterculture, an enduring mistrust of government, and the modern mass protest movement. With the U.S. taking the side of anti-communist South Vietnam against North Vietnam, the war that began in 1955 saw public opposition to U.S. involvement rise to 60% by 1970. The war ended with the…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. August 01, 2025 Adriana D. Kugler submits resignation as a member of the Federal Reserve Board, effective August 8, 2025 For release at 3:30 p.m. EDT The Federal Reserve Board announced on Friday that Adriana D. Kugler will step down from her position as governor of the Federal Reserve Board, effective August 8, 2025. Dr. Kugler, who has served as a governor since September 13, 2023, submitted her letter of resignation to President…

Key Takeaways Annual cruise ship retirement costs range from about $100,000 for budget options to $200,000 or more for luxury options, depending on cabin type and cruise line choice. Expenses like drinks, shopping, casino spending, and upgraded dining can significantly increase your budget beyond the base room and board costs. Forget images of Florida condos and Arizona golf courses—some retirees are trading traditional retirement for a permanent life at sea. But before you start packing your bags for shuffleboard, endless buffets, and permanent ocean views, you’ll need to assess the financial reality of a cruise ship retirement. Alvin Carlos, a…

You may have noticed that, lately, your online shopping packages are arriving a little earlier—or later—than expected. Why? As of April 1, 2025, the U.S. Postal Service (USPS) is rolling out sweeping changes to its delivery standards, part of a 10-year overhaul known as Delivering for America. While some customers may see faster mail service, others—especially in rural areas—may experience slower delivery. The bottom line? USPS wants to cut costs and stabilize operations, but that could mean trade-offs for everyday consumers. Key Takeaways USPS is updating delivery timelines for several mail types, aiming to save $36 billion over 10 years.About…

Adult children are moving back home and they could be draining their parents’ retirement savings. A recent study from Thrivent shows that 46% of adults ages 18 to 35 have moved back in with their parents. Nearly two in five (38%) of boomerang parents who have had their children move back home say financially supporting their adult children has affected their retirement savings. “When you’re supporting children, the typical analogy is to put your oxygen mask on first, and then help others. You need to make sure that any help you give will not derail your comfort and security,” said Justin Pritchard,…

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $60.2 billion in June, down $11.5 billion from $71.7 billion in May, revised. U.S. International Trade in Goods and Services Deficit Deficit: $60.2 Billion –16.0%° Exports: $277.3 Billion –0.5%° Imports: $337.5 Billion –3.7%° Next release: Thursday, September 4, 2025 (°) Statistical significance is not applicable or not measurable. Data adjusted for seasonality but not price changes Source: U.S. Census Bureau, U.S. Bureau of Economic Analysis; U.S. International Trade in Goods and Services, August 5, 2025 Exports, Imports, and Balance (exhibit…

Uncertainty returned to the market this week after conflicting news on inflation in July. Consumer prices matched expectations, but producer prices were sharply higher. For now, investors are ignoring those concerns and pushing stocks higher backed by strong earnings, continued progress on tariffs, and retail sales that were in-line with expectations. That optimism is also being fueled by the belief that rate cuts are coming in September. However, that could change after the Federal Reserve chair speaks at the Jackson Hole meeting next week. In the meantime, the trend is in favor of the bulls, but it’s not likely to…

Stocks on Wall Street ended mostly lower on Friday, but the main indexes still managed to score their second straight weekly gain thanks to new consumer inflation data that raised hopes for a Federal Reserve rate cut next month. Source: Investing.com For the week, the 30-stock rose around 1.7%, the benchmark S&P 500 climbed about 0.9%, and the tech-heavy Nasdaq Composite added 0.8%. The small-cap Russell 2000 Small Cap Index jumped 3.1%. Next week is expected to be another eventful one as attention turns to the Fed’s annual Economic Policy Symposium, which will take place in Jackson Hole, Wyoming, starting…

Key Takeaways Meta reportedly offered bonuses as high as $100 million to OpenAI staff amid an AI hiring war. Top analysts caution that the surging spending on AI talent may signal we’re nearing the peak of market euphoria. For investors, the safest bet if you’re looking to gain some AI exposure may just be sticking with the tech titans funding the fight. When Sam Altman said Meta was offering $100 million bonuses to poach OpenAI employees, he wasn’t exaggerating. In fact, some of the world’s biggest tech firms are now shelling out massive compensation packages to secure top AI scientists,…