Author: Money Mechanics

Planning for retirement when considering just yourself can be stressful. But what happens when your clients realize their retirement plan may be further complicated due to caring for aging parents or a special needs child? According to the AARP and the National Alliance for Caregiving 2025 joint report, roughly 1 in 4 American adults are caregivers. Here’s what I’m telling my clients to help them prepare. Key Takeaways Have open conversations with members of your family. Be clear about caregiving roles and responsibilities. Prepare a comprehensive retirement plan and estate plan. Understand your long-term care options. What I’m Telling My…

Key Takeaways U.S. equities were higher at midday ahead of key inflation data coming this week.EchoStar sold some spectrum licenses to Elon Musk’s SpaceX, shaking up the wireless sector.Canada Goose Holdings was upgraded by TD Cowen as it moved to offer more year-round apparel. U.S. equities were higher at midday ahead of key inflation data coming this week. The Dow Jones Industrial Average, S&P 500, and Nasdaq all rose. Shares of EchoStar (SATS) took off after the DISH TV and Boost Mobile operator sold some spectrum licenses to Elon Musk’s rocket and satellite company SpaceX for about $17 billion. EchoStar…

Starting next summer, Rhode Island will impose a new property tax surcharge on luxury second homes valued at or over $1 million that aren’t used as a primary residence.On its own, that tax might not get a lot of attention. However, the new levy, which supporters say would help address housing shortages and fund affordable housing programs, has been trending on social media, after being nicknamed the “Taylor Swift tax.”Just to be clear: Swift is not directly involved with the tax, but reportedly owns a sprawling $17 million mansion in the upscale Watch Hill area of Rhode Island, which would…

Call it boredom, call it opportunity, or even call it inevitable. Not only are U.S. retirees heading back to work in retirement — they’re also running the show.Take Jim O’Connell, a New Orleans-based newly minted charter boat captain for GetMyBoat.com, an Airbnb-like boat rental company that allows entrepreneurial boat owners to rent out or charter their vessels to customers.”I’d been sailing for many years by the time I retired, and I had wanted to have a way I could supplement the maintenance costs of the boat,” he says. “So I decided I would go get my captain’s license and do…

Key Takeaways The initial accumulation of $100,000 is the hardest and most important step in building wealth, Munger says. Frugality, discipline, and patience are essential to getting to that threshold. Once you reach that critical threshold, compounding accelerates wealth growth. As Warren Buffett’s legendary right-hand man at Berkshire Hathaway, Charlie Munger spent decades building a $2.6 billion fortune. Munger’s advice on how to start building wealth was blunt and honest. It’s also a stark contrast to the get-rich-quick promises that are so common today. Munger, who passed away in 2023, said the hardest part of getting rich is putting together…

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…AI security tools can bolster defenses against phishing, deepfakes and other cyberattacks. But there’s a problem that’s getting worse: AI is making companies and individuals more…

KEY TAKEAWAYS Consumers who are interested in buying an electric vehicle should do so this month to save thousands of dollars.Tax credits for electric vehicle owners will expire at the end of September. Dealers are using advertising and promotions to move their inventory out before the tax breaks are eliminated.Car manufacturers have absorbed some of the cost increases from tariffs so far, but analysts say they will not be able to do so for much longer. Tariffs are expected to make electric vehicles $4,000 more expensive on average. If you’re interested in buying an electric vehicle, experts say buying this…

KEY TAKEAWAYS Dan Ives, the high-profile tech analyst at Wedbush Securities, is joining Eightco, which is planning to accumulate Worldcoin, the cryptocurrency co-founded by OpenAI CEO Sam Altman.Eightco said it is raising around $250 million from a private placement “to implement the first-of-its-kind Worldcoin treasury strategy.” Eightco has also raised funds from BitMine, the ether accumulator helmed by Fundstrat’s Tom Lee. Dan Ives, the high-profile tech analyst at Wedbush Securities, is joining a new company focused on accumulating Worldcoin, the cryptocurrency launched by OpenAI CEO Sam Altman. Wedbush’s global head of technology research is now chairman of the board of directors at Eightco…

If you’re planning to set sail to Hawaii on a cruise next year, your room and board fees could be higher thanks to a new tourism tax.Hawaii is slated to impose a so-called “green fee” tax next year, which will impact the nightly lodging charges for hotels and vacation rentals. The fee, designed to mitigate climate change in the Aloha State, could impact as many as 300,000 cruise ship passengers annually.That’s because for the first time, the levies will also target cruise ships docking in Hawaii ports. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed…

Key Takeaways Forward Industries will shift its business into a cryptocurrency treasury focused on Solana.The provider of design services for medical and tech firms will get a $1.65 billion infusion from crypto-based companies and its largest shareholder to build the reserve.Last month the former 180 Life Sciences also moved to be a cryptocurrency treasury. Forward Industries (FORD) shares doubled in premarket trading Monday as the provider of design services for the medical and technology sectors became the latest company to completely shift its business into becoming a cryptocurrency treasury. Forward Industries announced it was receiving a $1.65 billion investment to…