Author: Money Mechanics

Weekly housing inventory data In recent years, our weekly inventory data typically reached its highest point in October or November, which is later than in the pre-COVID era. However, around mid-June, when mortgage rates began to decline, I observed a slight shift in the data. If you had asked me whether I expected inventory to decrease in August, given that mortgage rates were still at 6.50% and higher, I would have said no. Yet, that is exactly what occurred. Currently, year-over-year inventory growth has dropped from recent highs of 33% to 22%, despite mortgage rates not yet approaching 6%. If…

Taco Bell’s chief digital officer says the company is having an “active conversation” about when to use and not to use AI. The company has apparently rolled out voice AI-powered ordering at more than 500 drive-throughs, leading to unflattering viral moments like someone ordering 18,000 water cups in order to “bypass” the AI and get connected to a human server. Chief Digital and Technology Officer Dane Matthews told The Wall Street Journal that even he has mixed experiences with technology: “Sometimes it lets me down, but sometimes it really surprises me.” Overall, it sounds like Taco Bell is still deciding…

This week, the first NextGen Acela departed from Washington, DC. Amtrak’s newest high speed train, the NextGen Acela tops out at 160 mph and features a new tilt system to make those high speeds feel smoother and quieter for passengers on board.The new high-speed trains come as passenger rail travel has surged over the past few years, recovering from pandemic era declines and finally ticking above pre-pandemic levels in 2024. While commuters make up a significant portion of regular passengers, train travel worldwide has been gaining in popularity. That’s because they offer the affordable, scenic route experience of a road…

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 74-year-old retired marketing and communications consultant for global technology firms. He lives, and works part time, in Southern New Hampshire and is originally from New York City. 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.)…

If there’s one thing frequent travelers love it’s a bundled deal. Not only do they get to save some cash, but bundling can help take some of the stress and guesswork out of planning.If you’re a traveler who also happens to be a baseball fan, more and more hotels are now catering to you.With exclusive deals, bundled room and ticket prices and even fan freebies, these are the best travel deals available for baseball fans right now. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free…

Question:I bought a house when mortgage rates were 6.5%. If rates fall to 6.25% or 6.0%, would refinancing make sense and actually save me money?Answer: From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Profit and prosper with the best of expert advice – straight to your e-mail. With mortgage rates stubbornly elevated in recent years, many homeowners are watching the market for…

To help you understand what is going on in new technologies and the economy, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts (Get a free issue of The Kiplinger Letter or subscribe). You’ll get all the latest news first by subscribing, but we publish many (but not all) of our forecasts a few days afterward online. Here’s the latest…Amid the hype over AI, a practical question: When will the technology boost the economy the way its developers and promoters are promising? Is artificial intelligence going to unleash a surge in worker productivity,…

Key Takeaways Emergency funds are crucial when you experience financial shocks like job losses or financial emergencies. Diversify your portfolio across asset classes, industries, economies, and maturity lengths. Top brokerage firms provide an excellent selection of financial instruments for portfolio diversification. Long-term investing helps you avoid panic selling as your investments grow through compounding. Max out your retirement savings plan contributions. A financial or robo-advisor can expose you to new financial strategies like dollar-cost averaging or tax-loss harvesting. To make sense of market ups and downs, you need to understand that market fluctuations are normal. Rather than panic, have a…

Key Takeaways Jeffrey Epstein died with an estate worth about $600 million, but the exact source of his wealth remains murky, helping to fuel the many conspiracy theories around him. His largest reported clients—Leslie Wexner and Leon Black—paid him hundreds of millions of dollars for tax and estate planning services. A $40 million investment in Peter Thiel’s Valar Ventures later grew to nearly $170 million, becoming the largest asset in Epstein’s estate. When people hear the name Jeffrey Epstein, they usually think of scandal, crimes, and powerful connections. But one of the biggest mysteries surrounding the disgraced financier is how…

Warren Buffett transformed Berkshire Hathaway from a failing textile company into a sprawling conglomerate worth nearly $1 trillion. Now he’s 94 and the time to pass the reins is nearing, with one of the most high-profile jobs, the role of non-executive chairman, set to go to his middle child, a philanthropist and farmer with an interesting resume. Key Takeaways Howie Buffett is a philanthropist, farmer, and the middle child of Warren Buffett. After Warren dies, Howie is set to become Berkshire Hathaway’s non-executive chairman. Warren trusts Howie, who has sat on the boards of multiple companies, to preserve Berkshire’s culture…