Author: Money Mechanics

Scott Bessent, U.S. treasury secretary, in the Oval Office of the White House in Washington, D.C., on Aug. 6, 2025.Bonnie Cash | Bloomberg | Getty ImagesThe search for the next Federal Reserve chair is continuing, with Treasury Secretary Scott Bessent taking point in meeting with several candidates on President Donald Trump’s short list.In recent days, Bessent has met with former Fed officials Lawrence Lindsey, Kevin Warsh and James Bullard, a Treasury source told CNBC’s Steve Liesman. Lindsey and Warsh both served as governors, and Bullard was president of the St. Louis Fed.Bessent will wait until the blackout period that surrounds…

Since 1965, shares of Warren Buffett’s conglomerate, Berkshire Hathaway (BRK.B), have delivered a compounded annual return of 19.9%—almost double that of the S&P 500 over the same period. Unlike many of Wall Street’s famous money managers, Buffett has thrived during market crashes by following a straightforward approach any investor can follow: buying quality businesses at discounted prices when others are selling in a panic. Below, we break down the principles that have kept Buffett successful through several market crashes. Key Takeaways Warren Buffett turns market crashes into opportunities by following his own advice to “be fearful when others are greedy…

Key Takeaways Fed officials are likely to cut the central bank’s benchmark interest rate by a quarter-point Wednesday to boost the rapidly slowing job market.Policymakers have grown more worried about the health of the labor market than the outlook for inflation, for the time being at least.Fed officials will also release their projections for future interest rate cuts, and could reveal an accelerated cutting timetable for the months ahead.It’s unclear whether Fed governor Lisa Cook, whom Trump has attempted to fire, will take her place at the policy meeting: Her status is now in the hands of a judge. The…

As the next meeting of the Federal Open Markets Committee approaches, investors, economists, and policymakers are trying to predict how the central bankers will react to a weakening labor market and stubborn unemployment. When is the next Fed meeting? The next meeting of the FOMC will take place over Sept. 16 and 17. During this meeting, the members will vote on the course of monetary policy and will compile their summary of economic projections. What to Expect From the September Meeting Fed watchers expect the central bank’s policy committee to cut its influential federal funds rate for the first time…

Key Takeaways Famed investor Ray Dalio said it’s time to reconsider your safe-haven assets in light of recent government policies and economic changes. He advises investors to allocate 10% to 15% of their portfolios to gold. Dalio says that the primary risk for Treasury holders will be from continued money printing by the U.S. Federal Reserve. Dalio is raising a red flag on Treasurys, telling those at a launch event for Abu Dhabi Finance Week that he is instead buying gold as his preferred safe haven. He argued that Treasurys are no longer the most secure investment due to the…

One of the biggest Powerball jackpots in history — more than $1.4 billion — was just claimed. Whenever news of lottery wins this big breaks, people across the country start imagining what they would do if luck struck their numbers.For most, the dream ends with visions of mansions, luxury cars or world travel. For the lucky few who win, their lives will be forever changed.So, imagine it really does happen to you; you win the jackpot. First things first: relax. I know the adrenaline is still rushing, but the first thing to do is to pause and breathe. From just…

There’s growing speculation that the Federal Reserve might start lowering interest rates later this year or next.While no one can precisely predict when, it’s useful to consider how a lower rate environment could influence financial decisions related to housing, estate planning, taxes, investing and retirement.HousingHousing is often the most noticeable area affected by falling rates. A rate drop isn’t a magic solution for your housing plans, but it is an opportunity to reset and gain flexibility. 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…

Rather than clocking out once and for all, 75% of workers think they will work for pay in retirement, according to the 2025 EBRI/Greenwald Retirement Confidence Survey.This represents a significant increase from the current 30% of retirees who work, some by choice, others out of necessity.As “partial retirements” become increasingly popular, it’s important to understand how earning income can impact your Social Security benefits and taxes. 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…

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 70-year-old married and retired magazine editor for dairy farming who now lives in Boise, Idaho. He and his wife have been married for 48 years.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…

Retirement opens the door to new and exciting adventures — and an international trip can be the perfect way to celebrate the next chapter of your life.But planning your first overseas journey can seem intimidating. From logistics and setting a budget to choosing an itinerary that matches your interests, traveling at this stage of life has its own set of considerations and challenges, as well as enriching experiences.The chance for life-changing adventures abroad likely led 70% of adults 50-plus to plan trips in 2025, up from 65% in 2024, according to The AARP 2025 Travel Trends survey. AARP also discovered…