Author: Money Mechanics

Question: I’m 63 with an aging house that needs repairs, but I might eventually want to move to a retirement community. Is it worth making those fixes?Answer: There can be benefits to staying in the home you know and love in retirement — the familiarity of the neighborhood, the ability to stick to an established routine, and the quirks of your house that you’ve mastered by now, like that one closet door that always sticks.But dealing with an aging home can become increasingly difficult as you age. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed…

Key Takeaways The number of visitors to Las Vegas fell by 11% in June, and was down 7% through the first six months of this year. Over a whole year, 7% would be the largest decline in more than 50 years, bigger than the drop felt during the Great Recession. Experts have pointed to several reasons for the drop, from a lackluster U.S. economy to a decline in international travel and changing habits among generations. Las Vegas, one of America’s most popular tourist destinations, is showing signs of a downturn. Data released at the end of July showed that visitor…

As autumn paints the landscape with hues of amber, crimson, and gold, there’s no better way to immerse yourself in the season’s beauty than aboard a scenic train journey. Whether you’re up for a day trip or a multi-day adventure, we’ve got you covered.Of course, you can’t just hop aboard any train route and expect to see picturesque fall foliage. You need to find the right trip. Fortunately, there are plenty of options available to appeal to both seasoned travelers and those who tend to stay close to home.Check out this curated selection of fall foliage trips on Amtrak and…

key takeaways Rising costs make traditional milestones like homes, kids, and cars harder for middle-income families to reach.Geography now defines middle-class life as much as income does.Shrinking middle class numbers reveal deeper shifts in how Americans define stability.Budgeting realistically, diversifying income, and controlling lifestyle inflation are keys to financial stability today. If starting a family, buying a house, or just thinking about purchasing a car feels impossible—you’re definitely not alone. What used to define “middle class” feels further out of reach for Millennials and Gen Z than ever before. Rising costs, stagnant wages, and where you live all play huge…

Median Bank Account Balances by Age Under 35 35-44 45-54 55-64 65-74 75 or older 2013 $2,800 $4,840 $5,090 $6,360 $8,910 $8,910 2016 $3,150 $4,690 $5,010 $6,620 $9,870 $12,330 2019 $3,760 $5,460 $7,420 $6,520 $9,270 $10,780 2022 $5,400 $7,500 $8,700 $8,000 $13,400 $10,000 Source: The Federal Reserve’s “Survey of Consumer Finances” (2022), median transaction account balances by age group. Transaction accounts include checking, savings, money market, and brokerage cash accounts, and prepaid debit cards. In addition to what’s in bank accounts, the median saver under age 35 has these assets: With the $5,400 in the bank, these amounts total $39,200.…

KEY TAKEAWAYS If you live in Arkansas, Indiana, Mississippi, North Carolina, or Wisconsin, you may have to pay state income taxes on federal student loan forgiveness you received.Federal student loan forgiveness is exempt from federal income tax under the American Rescue Plan Act (ARPA).However, some states decided to tax forgiveness as income at the state level. If you were among federal student loan borrowers who received forgiveness in 2024, you may be on the hook to pay state income tax if you live in certain states. In 2024, then-President Joe Biden forgave billions of dollars in student loans for borrowers…

Find out how much you could earn by locking in a high CD rate today. The Federal Reserve cut its federal funds rate three times in 2024, so now could be your last chance to lock in a competitive CD rate before rates fall further. CD rates vary widely across financial institutions, so it’s important to ensure you’re getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Generally, the best CD rates today are offered on shorter terms of around one year…

President Donald Trump on Saturday issued direct threats to Afghanistan’s Taliban government, demanding the return of Bagram Air Base to U.S. control or face unspecified consequences.Trump’s ThreatTrump posted on Truth Social, warning that “bad things are going to happen” if Afghanistan doesn’t return a key strategic facility, according to The Hill.Strategic China ConcernsTrump described Bagram as “an hour away from where China makes its nuclear weapons,” emphasizing the geopolitical tensions that could affect the U.S.-China trade relations. According to the reports, the president cited this proximity as the reason driving the administration’s renewed interest in the facility.See Also: Trump’s H-1B…

Over time, capital market investors are expected to play an important role as a key element in ensuring there is sufficient cyber reinsurance and retrocession capacity, to support the expansion of cyber insurance limit around the globe, Moody’s Ratings has said.While the cyber insurance-linked securities (ILS) market remains small, with just a number of issuances so far, Moody’s Ratings feels it has to grow to support the cyber risk management needs of society. In addition, the cyber industry loss warranty (ILW) is also highlighted as a tool that can support cyber insurers and reinsurers growth ambitions. Cyber insurers have shifted…

Key Takeaways Predictions market platform Polymarket recently rolled out earnings contracts, offering a simple way for folks to bet on companies’ quarterly reports.The latest category of market-moving events to gamble on is part of a broader trend of appealing to retail investors who like to discuss money matters on social media. There’s a new way to make a buck on companies’ earnings reports—and in some ways, this one may be the most straightforward. Predictions marketplace Polymarket last week rolled out a new category of contracts that lets users put money on whether or not a company will beat Wall Street’s…