Author: Money Mechanics

The typical U.S. luxury home sold for $1,250,000 in August, up 3.9% from a year earlier. Luxury home sales fell 0.7% to the lowest August level in Redfin’s records, which go back to 2013. Non-luxury home sales also fell (-0.6%) to the lowest August level on record. The typical luxury home sold in 46 days in August, three days slower than a year ago. In comparison, non-luxury home sales typically took 40 days to go under contract, up from 33 days last year. Luxury home prices grew the most in West Palm Beach, FL (+15%), and fell the most in…

Key Takeaways Adding a tiny home to your yard can cost significantly less than a traditional home and may earn you thousands in monthly rental income.Location, guest capacity, and effective marketing can significantly impact the rental income your tiny home generates. If you own a home with a yard, adding a tiny house to that space could earn you thousands of dollars a month in rental income. But building one takes money up front and a smart plan to make it stand out from other rentals. What Is a Backyard Tiny Home? A backyard tiny home is a small, stand-alone…

Key Takeaways In the event of a federal government shutdown, Social Security beneficiaries will still get their checks and Medicare beneficiaries will still have health coverage, but some administrative functions of both programs will be disrupted.A shutdown could also delay the announcement of the 2026 cost-of-living adjustment, which is currently expected to be announced in October. As the federal government prepares for a potential partial shutdown, many Social Security and Medicare recipients are wondering what this means for their benefits. The 74 million Americans who rely on Social Security and Supplemental Security Income (SSI) benefits each month won’t see a…

(Oil Price) – U.S. oil firm Sable Offshore Corp, which seeks to restart production offshore California via a pipeline to the coast, has unveiled an alternative offtake strategy after being sued by the Santa Barbara County District Attorney for environmental violations. This alternative strategy, a so-called Offshore Storage and Treating Vessel (OS&T) strategy, would entail seeking federal clearance to transport the oil from the offshore platforms via shuttle tankers. The strategy, aimed to provide access to domestic and global markets for federal crude oil produced from the Santa Ynez Unit (SYU) offshore Santa Barbara, is pursued simultaneously with the company’s formal request for…

Key Takeaways The Robinhood Gold Card is invite-only. I joined the waitlist in spring 2024 and just received my offer last week. The card pays an industry-leading 3% cash back with no categories, limits, or foreign fees. A $50 annual Gold membership is required, but compared with a 2% cash back card, the fee is recouped after just $5,000 in yearly spending. Most Cash Back Cards Stop at 2%—This One Goes Higher Online brokerage platform Robinhood announced in March 2024 that it would launch a Robinhood Gold credit card. But you couldn’t apply then—all you could do was join a…

There’s a difference between wanting a wedding and wanting a marriage. (Similarly, there’s a difference between wanting to have kids and wanting to be a parent.) Getting married has some major impacts when it comes to your money, and that’s not including the cost of saying “I do.”  Marriage creates new rights and responsibilities, both legally and financially. Financially, you could unlock benefits like potential tax savings by filing jointly. You may also face joint responsibility for debt and assets. Likewise, legally, marriage changes your status. Inheritances and making medical decisions can be different when you’re single. In this guide,…

Key Takeaways Citigroup analysts on Tuesday forecast hyperscalers would spend even more on AI infrastructure next year than previously expected. The AI data center buildout is increasingly being financed by debt rather than cash flows, an evolution that exposes the AI boom to new vulnerabilities like default and interest rate risk. Other financing methods, like the investment agreement announced by OpenAI and Nvidia last week, have worried some onlookers fearful of an AI bubble. After a series of big cloud computing deals this month, Citigroup analysts now expect AI spending to exceed their already eye-watering forecast.  Citi analysts on Tuesday…

To help you understand the trends surrounding AI and other new technologies and what we expect to happen in the future, 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 will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…As the smartphone industry battles tariffs and cost-conscious consumers, Apple’s new slate of iPhones figures to be a big hit.Updated mobile software, computer chips and exterior…

Qualified Charitable DistributionsgettyThe end of the year is full of checklists and activities. Whether someone is celebrating the holidays or making sure finances are in order, one thing is certain: December 31 comes quickly for everyone. It is prudent to start early and be methodical when planning for the year ahead. Beginning in January with periodic contributions is often the easiest way to maximize contributions, though this is not always feasible or efficient. Another strategy to consider is a tax-efficient approach that fulfills required distributions while allowing a charity to receive the full benefit without taxation. Qualified charitable distributions (QCDs)…

The 2025 tax landscape has changed due to the GOP tax and spending law, referred to by some as the “big, beautiful bill,” signed by President Trump on July 4, 2025.This multibillion-dollar legislation impacts everything from car loan interest to overtime pay and reported cash tips.While it may provide some taxpayers with opportunities to save, the bill also creates some confusion regarding which income types are really non-taxable and what, if any, new rules apply. 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…