Author: Money Mechanics

Starter-home affordability is improving: The income needed to afford a typical U.S. starter home is down 1.5% from a year ago, marking eight straight months of declines as price growth cools. Affordability for entry-level homes is improving more than the overall market: The income needed to buy the typical U.S. home is down just 0.5% because price growth remains stronger at higher price points as affluent buyers remain active. Typical incomes are pulling further ahead: The median U.S. household now earns about $17,000 more than what’s needed to afford a starter home, up from $12,500 a year ago. More starter…

pros and cons Pros LoudEasy carryExtremely durable Cons ExpensiveNo companion app Follow ZDNET: Add us as a preferred source on Google.Portable speakers with waterproof designs are more common than not these days, but for those with ultra-rugged lifestyles, speakers from Bose, JBL, and Beats might not be tough enough. Turtlebox, a maker of speakers for the super-outdoorsy, returns with the Cub, a compact version of its flagship Original (Gen 3) speaker.Also: I brought a Bose, Sony, and JBL speaker to the beach – this one’s my new outdoor essentialAt $330, the Turtlebox Cub is more expensive than some competing speakers of similar…

Article published at 9:15 a.m. CT.JJ Kinahan is Senior Vice President, Head of Retail Expansion and Alternative Investment Products at Cboe Global Markets, Inc. (Cboe).Key Takeaways:Eli Lilly shares move higher after strong weight-loss drug salesToy Story 5 was a big hit for Walt DisneySpaceX shares coast lowerAs we’ve noted before, good earnings can help power the market and we’re seeing it again today as the rally continues.The three major indices are on the high road in early trading after Tuesday’s showing in which the Nasdaq Composite and the Dow Jones Industrial Average logged record highs – again – and the…

Many investors are struggling to find the right balancing act in the current market environment.U.S. equity markets continue pushing to new all-time highs despite persistent inflation, elevated valuations, geopolitical uncertainty and higher interest rates.These risks can make investors uncomfortable as markets rise and fall — sometimes in the same trading session. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement,…

Shortly after Federal Reserve Chair Kevin Warsh took the podium after his first Fed meeting and said jobs data had “been moving in a good direction,” the Bureau of Labor Statistics (BLS) released a report that showed the U.S. added just 57,000 new jobs in June, well below the 115,000 economists expected.Additionally, job growth for April and May was revised lower. Does this mean we should worry about the July jobs report, due out Friday morning? Maybe not.”The June number was partly payback for strong growth in the previous three months, but it mostly suffered from a large decrease in…

As affordability issues continue to plague the housing market, many homeowners are choosing to make changes to their home rather than their address to get the living space they need.According to a recent survey from Citizens Financial Group, nearly half of homeowners now say that renovating their house is the most realistic financial option for their family — compared with just 13% who plan to buy a new home — and seven in 10 expect to complete a remodeling project in the next two years.”They can’t find another place to go,” says Linda Kody, a broker with Kody & Company…

One of the first questions many people ask after learning they’ll receive an inheritance is: “Will I owe taxes?”It’s an understandable worry. Taxes can be confusing, especially during an already emotional time when someone has passed away. But there is some good news — receiving an inheritance doesn’t automatically mean you’ll owe taxes to the IRS.That’s because for most people, the inheritance itself isn’t a taxable event. Whether you owe anything depends on what you inherit, where you live, and whether those assets later produce income or are sold. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter,…

Mortgage applications declined last week, after the Federal Reserve issued a split decision on interest rates, according to the Mortgage Bankers Association.For the week ending on July 31, MBA’s Market Composite Index—a measure of total mortgage loan application volume—dropped 2.9% on a seasonally adjusted basis from one week earlier.The Purchase Index, deemed a leading indicator for home sales, dipped 4% week over week on a seasonally adjusted basis, and was also down 4% from a year earlier. Refinance activity dipped 2% on the week and was down 9% annually.The downturn came after three members of the Federal Open Market Committee called for…

Retiring with a traditional pension is a financial win, putting you among the lucky minority of Americans with such income. But your most important decision is still ahead of you. If your employer asks you to choose between guaranteed monthly checks and a lump-sum cash buyout, opting for the wrong payment type could cost you thousands over your lifetime.”Everyone’s situation is a little different,” says Thrivent Financial Advisor Jason Rogoff. “You have to analyze the situation and look at what other assets people have, what other streams of income, their age and health.”When it comes to pension payouts, some rules…

When you move — whether upgrading, relocating for work or inheriting a family property — you’re often left with a deceptively complex decision: Should you keep the home and rent it or sell and move on?At its core, the rent-vs-sell decision comes down to a fundamental trade-off.Renting the property offers the potential for ongoing income and continued exposure to long-term appreciation. It could also provide flexibility, whether as a future residence, a home for family members or a legacy asset.Selling the home delivers immediate liquidity, simplifies your financial life and allows you to redeploy capital more efficiently.Neither approach is inherently…