Author: Money Mechanics

Is it better to make after-tax Roth 401(k) contributions or save before-tax in a traditional 401(k)? getty Is it better to make after-tax Roth 401(k) contributions or save before-tax in a traditional 401(k)? The answer varies depending on the taxpayer. While individuals with higher incomes might not benefit as much from after-tax contributions during their working years, the decision isn’t always straightforward. Here’s when to consider pre-tax vs Roth 401(k) contributions. What’s The Difference Between a Traditional and Roth 401(k)? Both pre-tax and Roth accounts grow tax-deferred, but beyond that, there are several differences. Traditional 401(k) Contributions reduce your regular…

Key Takeaways President Donald Trump says he’s looking to make more deals like the one he announced last week with Intel. The deal has been generally seen as positive for Intel, though some Wall Street analysts warned a similar arrangement might have less appeal for companies on more solid footing.The Trump administration said Friday it would not seek equity in some other CHIPS Act recipients like TSMC. President Donald Trump says he’s looking to make more deals like the one he announced last week with Intel (INTC), with the government taking a 10% stake in the chipmaker Friday.  “I will…

President Donald Trump said he has removed Federal Reserve Governor Lisa Cook from her position, intensifying his aggressive stance toward the central bank. “You are hereby removed from your position on the Board of Governors of the Federal Reserve, effective immediately,” Trump wrote in a letter to Cook he posted Monday evening on Truth Social. The president had previously called on Cook, whose term is set to end in 2028, to resign. Trump in the letter repeated allegations of mortgage fraud against Cook that had been leveled earlier this month by his administration. The Federal Reserve did not provide a…

The Consumer Financial Protection Bureau (CFPB) is taking a crucial step towards implementing rules for open banking in the United States. We are now publishing the first application for public comment from an organization seeking recognition as an open banking standard-setter. We invite public comments on this application.Role of Standard-Setters and Key AttributesStandard-setters can develop standards that will help ensure a safe, secure, reliable and competitive open banking framework. In June 2024, the CFPB finalized a rule outlining five key qualifications for becoming a recognized standard-setting body in connection with the CFPB’s forthcoming final Personal Financial Data Rights rule:Openness: The…

Elon Musk followed through on his threat. Musk’s companies X and xAI on Monday sued Apple and OpenAI in Texas federal court, alleging they have engaged in an “anticompetitive scheme” that prevents competitors like xAI’s Grok from competing fairly and ascending the App Store charts. Two weeks ago, Musk had written on his X social media network that its parent company, xAI, would “take immediate legal action” against Apple for an alleged “antitrust violation” related to App Store rankings. The Tesla (TSLA) CEO—whose xAI developed the Grok artificial intelligence chatbot and co-founded ChatGPT maker OpenAI—wrote, “Hey @Apple App Store, why do you refuse to put either…

(Oil Price) – ONEOK, Inc., MPLX LP, Whitewater, and Enbridge Inc. announced a new natural gas pipeline project to transport gas from the Permian Basin to the U.S. Gulf Coast. The Eiger Express Pipeline will be a 450-mile, 42-inch pipeline designed to transport up to 2.5 billion cubic feet per day of natural gas. The project is a joint venture between the existing Matterhorn joint venture, which comprises the four companies, and ONEOK and MPLX, which hold additional direct stakes. WhiteWater will be responsible for the construction and operation of the pipeline, which is expected to be completed in mid-2028. The pipeline will transport…

Subscribe Now: Apple Podcasts / Spotify / PlayerFM  We go inside Invest Fest, the biggest and best wealth festival on the planet, as it celebrates its fifth year of bringing education and empowerment to over 25,000 people in Atlanta. Hear from some of the most inspirational wealth builders and educators working today, including Cedric Nash, Chris Saim, and Austin Haynes, and see how Earn Your Leisure’s Troy Millings and Rashad Bilal have created this one of a kind gathering for investors, entrepreneurs and real estate experts. Plus, investors heard what they wanted to hear from Fed Chair Powell in Jackson Hole last week, but should…

With the market at all-time highs, many investors are piling into stocks. While investing is good, many people put all their eggs in one basket with stocks, making themselves susceptible to risk if the stock market crashes.  This is where bonds save the day. Bonds allow you to meet short-term cash flow needs and provide fresh powder to invest in stocks when the market is on sale. Key Takeaways Your time horizon should guide your bond allocation and comfort with risk.Bonds provide reliable cash flow, which can reduce stress when markets are volatile.Holding bonds allows you to buy stocks at…

Nvidia (NVDA) stock’s rapid rise on the back of booming AI demand has already made the chipmaker the world’s most valuable company. Most Wall Street analysts think its stock still has room to climb.  Expectations are on the rise ahead of the company’s earnings after the bell Wednesday, with Baird on Monday bumping its price target up to $225 from $195, after Stifel over the weekend lifted its to $212 from $202. Several others, including Morgan Stanley, UBS, and Wedbush, lifted theirs last week. Those targets are consistent with most others on the Street. Of the 14 analysts with current…

Real gross domestic product (GDP) for the U.S. Virgin Islands (USVI) decreased 1.3 percent in 2022 after increasing 3.7 percent in 2021 (table 1.3), according to statistics released today by the U.S. Bureau of Economic Analysis (BEA). These statistics were developed under the Statistical Improvement Program funded by the Office of Insular Affairs of the U.S. Department of the Interior. GDP for 2022 The decrease in real GDP reflected declines in exports, private fixed investment, government spending, and personal consumption expenditures that were partly offset by an increase in inventory investment (chart 1). Imports, a subtraction item in the calculation…