Author: Money Mechanics

Key Takeaways Buying a home can cost hundreds more per month than renting in today’s interest rate environment. Many homeowners overlook hidden costs like maintenance, taxes, and insurance. Renting can preserve liquidity, provide flexibility, and offer a better return if you invest the difference. For years, owning a home has been a core tenet of the American Dream. But in 2025’s high-interest, high-cost housing market, renting may actually be the more financially sound choice, at least for some time and especially if you don’t plan to stay long or aren’t yet financially secure. When Renting Actually Beats Buying (The Math…

People often tell me they want to invest, but they don’t know how to get started. It’s a simple question, but beneath it lies a deeper one: “What is my first step toward a better future?”The challenge, of course, is that the future is unknowable. You can’t predict what life will be like in 10, 20 or 30 years, nor can you predict how you’ll react.Some of the biggest risks are things nobody can forecast. So how do you plan for your future when there’s so much uncertainty? From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better…

One of the wiser, more experienced financial advisors I have the pleasure of working with mentioned something to me this week that I had to stop and write down so that I could share it with you: “I like to be wrong, because that means I’m learning.” There’s an upside to being wrong.getty He substantiated his claim by telling me how he chooses to read books and articles, and listen to podcasts and interviews, that are in direct opposition to his current opinions, both to reinforce and challenge his thinking. If this sounds foreign to you, it’s because it doesn’t…

Don’t underestimate health care costs when planning for retirement. It’s likely to be one of your largest expenses, especially as life-spans extend.According to the 2025 Fidelity Retiree Health Care Cost Estimate, the average 65-year-old might need $172,5000 to cover health care expenses in retirement. That number could go even higher, depending on your health and longevity.Thankfully, Medicare provides essential health insurance coverage and can help limit the cost of care. 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…

The One Big Beautiful Bill (OBBB), signed into law in July, made headlines with promises of tax relief and economic growth. But for retirees, the reality is more complicated and, in many cases, more costly.While the law extends some favorable tax brackets and introduces deductions for older Americans, several provisions do little to support people already in retirement.Others could quietly raise your costs or trigger unintended tax consequences if you’re not careful. 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…

Question: I’m 57 with $4.1 million and looking to retire abroad in a few years. I no longer see the point in contributing to my 401(k). Am I wrong?Answer: As of 2022, the typical 57-year-old had $185,000 in retirement savings, according to the Federal Reserve. So if you’re 57 with $4.1 million socked away for your later years, you’re in remarkably good shape. This holds true whether your intent is to retire abroad or not, as both have pros and cons from a financial perspective.However, you may wonder whether it pays to continue funding your 401(k) plan at this stage…

Find out how much you could earn by locking in a high CD rate today. The Federal Reserve cut its federal funds rate three times in 2024, so now could be your last chance to lock in a competitive CD rate before rates fall further. CD rates vary widely across financial institutions, so it’s important to ensure you’re getting the best rate possible when shopping around for a CD. The following is a breakdown of CD rates today and where to find the best offers. Generally, the best CD rates today are offered on shorter terms of around one year…

Federal Reserve Governor Lisa Cook is challenging President Donald Trump’s effort to remove her after documents surfaced indicating one of her properties was listed as a vacation home, casting doubt on allegations of mortgage misrepresentation.Documents Show Atlanta Condo Listed As Vacation HomeCopies of documents reviewed by The Wall Street Journal on Saturday reveal that Cook described her Atlanta condominium as a “vacation home” on a May 2021 preliminary loan estimate and again on a December 2021 government background check. These records contradict claims by the Trump administration that she intentionally misrepresented the property as her primary residence.Trump And Pulte Target Cook…

A version of this article first appeared in the CNBC Property Play newsletter with Diana Olick. Property Play covers new and evolving opportunities for the real estate investor, from individuals to venture capitalists, private equity funds, family offices, institutional investors and large public companies. Sign up to receive future editions, straight to your inbox.The family offices of high-net-worth investors are increasingly pouring their money into alternatives, and real estate is high on their list. For some, instead of going it alone, they’re joining forces in multifamily offices.The multifamily office model lets these investment arms of wealthy families pool resources, share expertise and…

With Tesla shareholders set to vote on a proposed 10-year, $1 trillion compensation package for CEO Elon Musk in November, board chair Robyn Denholm spoke to The New York Times to defend what would be the largest pay package in corporate history. Denholm, who was also on the special committee that put the compensation proposal together, argued that Musk needs to be motivated by extraordinary challenges tied to extraordinary compensation. At the same time, she suggested he’s less interested in the additional wealth that the promised Tesla shares would represent, and more in the voting power. “I think it’s a…