Author: Money Mechanics

Suddenly being laid off from a job is a shock to your life and to your finances. But there are key things you can do to protect yourself. “Being laid off is never easy. The loss of income, daily structure, and sense of stability can be deeply unsettling. And yet, there are several immediate steps people can take to regain control and protect their financial future during this difficult transition,” said Trevor Ausen, a certified financial planner and founder of Authentic Life Financial Planning. Here are seven things to do to protect your finances after a layoff. Review a Severance…

The years leading up to retirement are full of decisions. Will you replace your days at the office with traveling, volunteering or lying on the beach with a book? When should you start claiming Social Security? Do you want to pick up a part-time job? And here’s yet another important choice you’ll have to make: whether you’ll relocate and, if you do, where you’ll land.If you’re contemplating a post-retirement move, you’re not alone. Roughly one-third of retirement savers don’t think it makes financial sense to stay put once they say goodbye to their job, and about one in six say…

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…