Author: Money Mechanics

Source of Financial Information and Advice By Age Group  18-29 30-49 50-64 65+ Friends and Family 57%  50%  33%  33% Financial Websites 42%  43%  31% 23% Social Media 42% 24% 10% 4% Banks and Credit Unions 34% 35% 31% 27% Books 30% 26% 13% 8% Financial Advisors 27% 40% 45% 51% Source: Gallup Gallup also found that the higher a household’s income, the more likely they are to use a financial advisor. For example, only 20% of those with a household income of less than $48,000 use financial advisors/planners, compared to 54% of those making at least $90,000. Factors like…

 September 2025 Capital Markets Regulatory Updates23 September 2025: The CFTC launched an initiative to explore tokenized collateral in derivatives, seeking public input by Oct 20 as part of its crypto modernization efforts.17 September 2025: The FCA proposed bringing crypto firms fully under U.K. regulations by adapting existing financial rules. In a new consultation paper, the FCA set out a framework to apply traditional requirements to crypto-asset businesses “on a proportionate basis.”15 September 2025: The French, Austrian and Italian financial markets authorities are called for a stronger European crypto-asset framework to improve supervision, investor protection, and competitiveness, based on MiCA lessons.5…

Homeownership is slipping further out of reach for millions of U.S. renters. Since 2019, about 1.8 million U.S. renter households have lost the ability to afford a median-priced home, and the share of renters who can buy has dropped from 17% to 12.7%, according to a recent Coldwell Banker Richard Ellis (CBRE) study. High prices and mortgage rates are primarily to blame, but there are signs that affordability may soon start to improve, said Travis Deese, associate director of multifamily research for CBRE. Why This Matters to You If you’re renting and hoping to buy a home, your path to…

Stock futures pointed higher Friday after major indexes set new closing records, as investors continue to downplay the U.S. government shutdown, now in its third day. Yesterday, stock indexes ended higher for a fifth straight session, with the tech-heavy Nasdaq, blue-chip Dow Jones Industrial Average, and benchmark S&P 500 ending up 0.4%, 0.2%, and 0.1%. It was the second day in a row that the Dow and S&P 500 set new closing marks, while the Nasdaq and S&P 500 also hit intraday records. Futures associated with all three indexes were up roughly 0.2%, with chip stocks again leading the advance. Nvidia (NVDA) stock, which closed…

If you think your insurance premiums are too high today, I have some bad news for you. They are going to get higher. And not by a little — by a lot.There is an entirely logical and reasonable reason for this, and after reading this article, you will understand and — dare I say — agree it has to happen.At their core, insurance policies work because some people have claims, and some people do not. The insurance companies make money on the policies that do not have claims. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better…

The One Big Beautiful Bill Act, signed into law in July, has wide-reaching implications for taxpayers. From an enlarged standard deduction for older adults to more-generous tax credits for families with young children, the legislation contains a plethora of provisions that could lower your 2025 tax bill — or, in some cases, increase it.Just as noteworthy as the new rules are those that extend provisions from the 2017 Tax Cuts and Jobs Act (TCJA). The OBBBA makes permanent the reductions in federal income tax rates that the TCJA implemented. (Otherwise, those tax rates would have expired on December 31.)In addition,…

The number of ultra-wealthy individuals — those with net worths of $30 million or more — is climbing at a rapid pace. As this population expands, distinct real estate patterns are emerging, with the ultra-rich gravitating toward specific global hubs.Major cities like New York, Los Angeles and Hong Kong remain top choices, offering a mix of financial opportunity, cultural influence and international connectivity. These markets continue to evolve, reinforcing their status as magnets for billionaire buyers.At the same time, new hotspots are on the rise. From Miami and Dubai to Lisbon and coastal Mediterranean towns, the ultra-rich are seeking destinations…

Risk tolerance lowers as you age, meaning once you’re retired, any significant financial changes or economic news can have a big impact on the rest of your life.As we saw in early spring, many retirees were thrown for a loop when the stock market briefly collapsed in response to President Donald Trump’s ongoing tariff announcements.The recent One Big Beautiful Bill (OBBB) is the latest news from the Capitol that will impact retirees. 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…

KEY TAKEAWAYS OpenAI has reportedly finalized a secondary share sale that values the artificial intelligence company at $500 billion.At that level, OpenAI’s valuation overtakes that of SpaceX, Elon Musk’s rocket and satellite-internet company. OpenAI has reportedly finalized a secondary share sale that values the artificial intelligence company at $500 billion, making the ChatGPT owner the world’s most valuable startup ever. The share sale, which allows employees to cash out, comes just months after OpenAI CEO Sam Altman said that Meta Platforms (META) was poaching the company’s AI staff with signing bonuses as high as $100 million. Why This Matters OpenAI’s sky-high valuation suggests…

Key Takeaways Major U.S. equities indexes were little changed Thursday afternoon, as the tech sector rose while most others declined.Shares of Intel, Advanced Micro Devices, and other chip stocks extended gains.Fair Isaac shares popped after the company said it will offer its FICO credit score data directly to providers of consolidated scores to mortgage lenders. Major U.S. equities indexes were little changed Thursday afternoon on the second day of the U.S. government shutdown, as the tech sector rose while most others declined. Intel (INTC) shares extended gains following a report that the struggling chipmaker is in early talks to add rival…