Author: Money Mechanics

Real gross domestic product (GDP) increased in 2,375 counties, decreased in 717, and was unchanged in 21 in 2018, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). The percentage change in real GDP ranged from 86.5 percent in Jackson County, WV, to -44.0 percent in Grant County, ND, (table 1). GDP is the value of goods and services produced within a county. The size of a county’s economy as measured by GDP varies considerably across the United States. In 2018, the total level of real GDP ranged from $18.4 million in Issaquena County, MS, to…

The Honey Deuce is the U.S. Open’s most famous cocktail.Nbc | Nbcuniversal | Getty ImagesWhile inflation rates have cooled in recent years, U.S. Open attendees may still be experiencing the aftertaste as they sip on the tennis championship’s iconic beverage.The so-called Honey Deuce carries an eye-popping price tag of $23. While the drink costs the same as last year, it has had six price hikes since 2012 — and has outpaced inflation over the past decade.The vodka-based beverage has become synonymous with the New York City-based event. It’s adorned with honeydew melon chunks that resemble tennis balls and is served…

ZDNET’s key takeaways The Pebble X Plus speakers are available now for $120 on Amazon.The rich, deep bass perfectly matches the mids and highs delivered by the satellite speakers. However, they don’t have built-in battery power, so your portability is limited to a power source. It shocks me how good Bluetooth speakers have come over the years. I remember when I bought my first Bose Bluetooth speaker, thinking it had set the bar pretty high. But when I listen to that speaker now — versus what has become available over the last year — it’s put to shame; not only…

In 2025, a record 4.18 million Americans will turn 65. For those planning to retire soon, an important question arises: Does converting retirement savings from a tax-deferred account to a Roth IRA make sense — or is it too late?Before making a decision, it’s important to consider the pros and cons of a Roth conversion. A starting point is understanding what a Roth IRA is and how a conversion impacts your tax liability, both in the short and long term.A Roth IRA is a retirement account to which you contribute after-tax dollars. When you convert pre-taxed or tax-deferred accounts —…

If you’re in or nearing retirement, a Roth conversion might be the most powerful tool you’re not using — or not using correctly.A Roth conversion done right can dramatically lower your lifetime tax bill, preserve your income flexibility, even protect your surviving spouse from costly tax burdens.But done wrong, it can backfire — triggering higher Medicare premiums, unnecessary taxation on your Social Security benefits and a surprise tax spike later in life when it might be too late to adjust. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up…

Key Takeaways You’ll need a portfolio worth about $300,000 generating a 4% dividend yield to earn $1,000 in monthly passive income.Building a diversified collection of 20 to 30 dividend stocks across different sectors helps protect your income.You can also choose an investment fund with a good track record for delivering dividends. Want to earn $1,000 in monthly passive income from dividend stocks? Many investors have successfully built dividend portfolios that generate substantial monthly income through patience, smart stock selection, and consistent investing. Below, we show you how it’s done. What Are Dividends? When successful companies make a profit, they often…

Question: I was laid off in my 40s and took a lower-paying job. I’m unable to contribute to my retirement savings until my income rises, and I’ve only saved $200,000 so far. Help!Answer: The Bureau of Labor Statistics reported an unemployment rate of 4.2% on August 1. But while that rate may be relatively low, it doesn’t tell the whole story of today’s job market.Many large companies are cutting headcount in anticipation of tariff-related blowback. Many qualified people are out of work, with far too few good prospects. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better…

Key Takeaways With Swift’s $1.6 billion fortune and Kelce’s $90 million net worth, a prenuptial agreement is almost certainly in the works to protect both partners. Prenups require early planning—about three to six months before the wedding—with full disclosure and separate lawyers. Intellectual property protections in prenups now extend to royalties, patents, and even social media brand value. Postnuptial agreements can give similar safeguards if couples miss the prenup window before marriage. When pop superstar Taylor Swift and Kansas City Chiefs tight end Travis Kelce announced their engagement on Aug. 26, Swift joked that her engagement to Travis Kelce was like…

We often imagine retirement as the ultimate reward: No alarm clocks, no meetings, no bosses — just the freedom to do whatever we want.Here’s the paradox: That very freedom can feel empty if it lacks direction.I’ve seen it firsthand, not only in clients but in my own family. 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 of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Profit and prosper with the best…

Key Takeaways A number of companies say American shoppers are “trading down,” looking for cheaper ways to spend while continuing to buy stuff they need and want.Lower- and middle-income shoppers appear to be trying the tactic, though some retailers see it among their higher-income shoppers too.McKinsey in a June report said many customers trade-down on one item so they can splurge on another. Americans are still shopping. They’re just looking for cheaper ways to do it—and trading down is a popular option.  Many companies and experts say customers are buying items they want or need but picking less-expensive versions than…