Author: Money Mechanics

Some tasks are easier than others when helping clients execute a financial plan. From my experience, estate planning is often the hardest. The possibility of death or disability is not something we think of as imminent, and it can be hard to wrap your head around a worst-case scenario mentally. According to a recent survey by Caring.com, only one in four Americans has a will in place, a decline from 33% of respondents in 2022. Below, I share how I help clients take action to complete their estate plan. Key Takeaways The hardest part of estate planning is often deciding…

(Investing) – The European Union could phase out Russian gas within six to 12 months by replacing it with U.S. liquefied natural gas, and the United States communicated this position to EU officials this week, U.S. energy secretary Chris Wright told Reuters on Friday. Wright was speaking in Brussels, where he met EU energy commissioner Dan Jorgensen on Thursday as the U.S. ramps up pressure on Europe to cut off Moscow’s energy revenue, seeking to end the war in Ukraine. The EU is negotiating legal proposals to phase out imports of Russian oil and gas by January 2028, with a…

Shares of Gemini (GEMI) popped on their trading debut, then gave up some ground. The crypto exchange’s stock, which opened at $37—well above its $28 IPO price—recently traded around $36, off earlier highs near $46. Twin brothers Tyler and Cameron Winklevoss, the company’s founders, rang the opening bell at the Nasdaq in New York City Friday wearing t-shirts picturing a rocket in space. Gemini, founded in 2014, set its IPO price overnight, arriving above an already-boosted expected range of $24 to $26. The company, officially known as Gemini Space Station, sold 15.1 million Class A shares, fewer than previously expected,…

Key Takeaways U.S. equities were mixed at midday a day after the Dow Jones Industrial Average, S&P 500, and Nasdaq hit record highs on optimism about Federal Reserve interest-rate cuts.Warner Bros. Discovery and Paramount Skydance shares jumped for a second straight day on reports that Paramount is preparing a bid to buy its media rival.RH blamed tariffs for missing profit and sales estimates, and the upscale furniture and home accessories retailer cut its guidance. U.S. equities were mixed and little changed at midday after all three major indexes set all-time highs yesterday on optimism about Federal Reserve interest-rate cuts. The…

Key Takeaways Treasury Department data showed that the U.S. brought in $30 billion in tariff revenues in August, up sharply from the $7 billion collected in August 2024, before President Trump instituted his sweeping tariff regime.For the year, tariff revenues are $95 billion higher than 2024 levels.Treasury Secretary Scott Bessent said that a court ruling against the tariffs could force the government to issue refunds. Revenue from President Donald Trump’s tariffs jumped in August, but it’s not clear if the federal government will be able to keep the funds, as a court case challenges whether the president’s tariff policies are…

When your spouse passes away, this can be a very trying and confusing time. Let’s make dealing with Social Security the least of your worries. When a spouse passes, Social Security will be notified by the funeral home. You need to call (1-800-772-1213) or make an appointment with Social Security to see if you are eligible for the survivor’s benefit. You cannot file for this benefit online. There is a $255 lump-sum death benefit available to the current spouse living with the deceased spouse at the time. You have 2 years from the date of death to apply for this…

RH Stock Sinks as Furniture Retailer Says Tariffs Hurt Results, Outlook 24 minutes ago Shares of RH (RH) fell Friday, a day after the upscale furniture and home accessories retailer posted weaker-than-expected results and lowered its guidance on uncertainty about the impact of tariffs. The company reported second-quarter adjusted earnings per share of $2.93 on revenue that rose 8% year-over-year to $899.2 million. Analysts surveyed by Visible Alpha were looking for $3.22 and $904.6 million, respectively. RH said its performance was hurt by “the polarizing impact of tariff uncertainty and the worst housing market in almost 50 years.” A bright…

It’s September, and that means a new iPhone is about to hit the market. Apple announced the details surrounding its newest iPhone models this week, with presales starting on September 12 and the release happening on Friday, September 19.At first glance, the iPhone 17 doesn’t look much different than its predecessor, the iPhone 16. However, Apple packed this base model with elevated features, which has me considering switching back from the Google Pixel to the new iPhone.But before we get to that, let’s break down what’s new about the iPhone 17. We’ll also cover the best deals available and whether…

Tesla’s stock is on the rise. Shares of the electric vehicle maker, up 10% this month through Thursday’s close—and up another 6% so far today—are on a roll. Though it’s been bumpy, Tesla (TSLA) stock has climbed off year-to-date lows around $222, seen in March, and is approaching break-even. (The stock, which finished last year near $404, was recently around $392.) The recovery is notable for a stock that, as of the end of the first half of the year, was the laggard of the Magnificent 7. It was one of only two companies in the big-tech grouping in the…

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on topics submitted by readers. This week, she’s looking at questions on transferring 529 plan money to a Roth IRA. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. General rules for 529 rollover to a Roth IRAQuestion: We funded a 529 college savings plan for my granddaughter. She used the money in the account for college. She’s now done with school, and there are still unused funds in the account. I heard that we can transfer some of the money…