Author: Money Mechanics

For decades, U.S. taxpayers have paid into Social Security with each paycheck, only to discover later that up to 85% of those hard-earned benefits can be taxed again in retirement.So, many retirees wondered whether 2025 would be the year that Congress would finally pass legislation to provide some relief. That question was amplified, for some, by President Donald Trump’s recent campaign pledge to eliminate taxes on Social Security benefits in his second term.However, despite what you may have heard, the GOP mega tax bill signed into law by Trump on July 4, 2025, doesn’t change Social Security taxation. From just…

Key Takeaways Major U.S. equities indexes were little changed at midday Tuesday following a report showing weaker-than-anticipated job growth. UnitedHealth Group shares surged after the insurer gave a positive outlook about its Medicare Advantage members.Freeport-McMoRan shares fell on a mega-merger by copper mining rivals Anglo American and Teck Resources. The Dow, S&P 500, and Nasdaq were little changed at midday Tuesday following a report showing weaker-than-anticipated job growth. That raised speculation the Federal Reserve could move next week to cut interest rates more than previously thought. UnitedHealth Group (UNH) was the best-performing stock in the Dow and S&P 500 after the…

Money decisions aren’t just about math and the hardcore numbers. They’re shaped by emotions. Decades of behavioral research shows that emotions such as fear, stress and time pressure can meaningfully shape financial decisions, from impulsive purchases to panicked trades.These are clear reminders that managing emotions well can be a financial asset. Emotional intelligence (EQ) gives you a practical edge: the ability to notice what you’re feeling, pause, and choose a response that supports your long-term goals.Let’s explore seven emotional traps that can wreck your finances and what to do instead. From just $107.88 $24.99 for Kiplinger Personal Finance Be a…

Key Takeaways CoreWeave has launched a venture initiative designed to support founders of new artificial intelligence efforts.The artificial intelligence cloud computing firm’s CoreWeave Ventures will offer direct investment capital and other assistance designed to bring new ideas to market faster.CoreWeave shares hit the market just five months ago, and shares have more than doubled since then. CoreWeave (CRWV) shares gained 4% in morning trading after the artificial intelligence (AI) cloud computing platform announced plans to support new AI efforts. The Nvidia-backed company said it was starting CoreWeave Ventures to provide “investment resources, technical expertise, and compute” to help AI founders…

Key Takeaways A settlement was reached over who would control Rupert Murdoch’s media empire. News Corp Chair and Fox CEO Lachlan Murdoch was chosen to control the family trust.Murdoch’s three other oldest children had opposed the move. Shares of News Corp (NWSA) and Fox (FOXA) declined in morning trading after Rupert Murdoch’s media empire settled a yearslong family fight over which of the mogul’s children will control the Murdoch family trust. News Corp announced that Murdoch’s oldest son, Lachlan, who is chair of News Corp and CEO of Fox Corp., will be in charge of the trust. Previously, Lachlan and…

A spending bill is moving forward among Republicans in the U.S. House of Representatives that could significantly cut IRS funding, jeopardizing your taxpayer experience during the 2026 filing season.The proposed measure, which is now moving to a House vote, would reduce the IRS budget by billions of dollars. In particular, key funding for Taxpayer Services, which is responsible for processing tax returns, answering taxpayer questions, and delivering tax refunds and correspondence, is at risk of being gutted further.The IRS enforcement budget would also be dealt another blow by the GOP fiscal funding proposal. The result could mean fewer staff and…

KEY TAKEAWAYS Shares in the Labubu doll maker Pop Mart International Group Ltd. tumbled in Hong Kong amid profit-taking after the company was added to the benchmark index and amid concerns that Pop Mart may not be able to keep rolling out hip collectible toys.Pop Mart became a member of Hong Kong’s benchmark Hang Seng Index and the Hang Seng China Enterprises Index on Monday.The Labubu dolls, which come in boxes that hide the contents until they’re opened, have sparked a global collectibles craze.  Is the Labubu craze starting to fade? Shares in the Labubu doll maker Pop Mart International Group Ltd.…

Key Takeaways EchoStar sold some of its spectrum allocations to Elon Musk’s SpaceX for about $17 billion.The deal follows a similar $23 billion spectrum licenses sale to AT&T late last month.EchoStar said the two deals should resolve issues raised by the Federal Communication Commission over the company’s wireless and satellite rights. EchoStar (SATS) shares soared 20% Monday as the DISH TV and Boost Mobile operator sold some spectrum licenses to Elon Musk’s rocket and satellite company SpaceX for about $17 billion. It’s the second such major deal in two weeks as the company moved to alleviate pressures from federal regulators.…

Key Takeaways Only 14% of participants contributed the annual maximum in Vanguard-run defined contribution retirement plans such as 401(k)s in 2024.High-income earners are more likely to max out their 401(k)s, but even if you have a modest income you can reach this goal.The power of compounding returns means you have a strong incentive to save as much as possible, as soon as possible. The reality of the U.S. retirement system, which is that you are largely responsible for your own retirement security outside of Social Security, is that most workers chronically under save. Just over one-third of non-retirees said they…

As Apple Inc. AAPL prepares to unveil its new iPhone 17 lineup at Tuesday’s “Awe Dropping” event, investor Peter Andersen is criticizing the company’s weak artificial intelligence strategy, calling Siri’s performance “awful” and its lack of innovation “quite an embarrassment.”Apple Faces Criticism Ahead Of iPhone 17 EventOn CNBC’s Power Lunch, Andersen, founder and chief investment officer of Andersen Capital Management, said Apple is focusing too heavily on hardware while ignoring its shortcomings in AI.Tuesday’s update “seems to me kind of a head fake and ignoring the elephant in the room,” Andersen said. “Siri’s results have been awful, and Apple intelligence…