Author: Money Mechanics

Welcome to Kiplinger’s My First $1 Million series, in which we hear from people who have made $1 million. They’re sharing how they did it and what they’re doing with it. This time, we hear from a married 83-year-old retired teacher in New York. He reports that his annual salary ranged from $5,400 in 1966 to $60,000 in 1996.See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.) From just $107.88 $24.99 for Kiplinger Personal…

Amazon Prime Day can be a great opportunity to save on everything from electronics to household essentials, but not every deal is as good as it looks. Running June 23 through June 26, the annual shopping event features thousands of discounts from Amazon and third-party sellers.While Amazon is known for convenience and competitive pricing, some products are actually cheaper elsewhere. Others carry risks such as counterfeits, quality concerns or significant markups from third-party vendors.Before you click “Buy Now,” here are several categories of products that deserve a closer look.Frequently returned items (Image credit: Smith Collection/Gado / ContributorGetty Images)Amazon places a…

If you have stellar credit, it opens a lot of doors in your financial life. It can help you qualify for credit cards and loans and snag the lowest interest rate on them. Landlords may consider your credit before offering you an apartment. Your credit health may affect your home and auto insurance premiums, too.Your credit score is a three-digit number that gauges how well you’re managing your credit. FICO and VantageScore are the two primary companies that create credit scores, with lenders more commonly checking FICO scores before approving an application. Standard score models from both companies operate on…

Many bond strategists are cautious about high-yield debt these days. It’s fully valued, they say, relative to other pockets of the fixed-income market. But the Pimco 0-5 Year High Yield Corporate Bond ETF (HYS) has been a standout among exchange-traded bond funds in the Kiplinger ETF 20 in recent months.HYS has held up well since the start of the year, and its 8.8% return over the past 12 months outpaced 59% of its high-yield bond fund peers, as well as the Bloomberg U.S. Aggregate Bond Index. (All returns are through April 30.)The ETF’s tilt toward short-term debt and its robust…

Your daughter needs money for a down payment on a new house. Your son needs a loan to wipe out high-interest debt. Another child wants cash to pursue a graduate degree. As parents, it’s entirely natural to want to step in and help. But if you’re already retired, you need to think twice before opening your wallet. After all, you don’t want to jeopardize your own financial security for the sake of theirs.In retirement, you’re living on a fixed income, which means any unplanned financial support you give your kids will come directly from your nest egg, leaving less money…

When people think about moving to another country, they often picture retirees chasing warmer weather or digital nomads working from a beach somewhere. But a growing number of millionaires are packing up and relocating too.Around the world, wealthy individuals are increasingly choosing where they live based on factors like taxes, business opportunities, safety and overall quality of life. Some are looking for a better place to grow a business. Others want a more predictable tax environment or simply a lifestyle that better fits their priorities.While most Americans aren’t planning an international move anytime soon, it’s still worth paying attention to…

On June 18, Cathie Wood’s ARK Invest showed off a notable rotation following a superb run in two of the most popular high-growth stocks. Investors had been rewarding Robinhood (HOOD) for its cost-cutting plan and Roku (ROKU) for its takeover-driven rally, but ARK moved in the opposite direction. Wood took profits in both stocks after the catalysts lifted sentiment, turning both into sources of cash. Those adjustments land against a far more buzzworthy story. Wood recently built a major post-IPO position in SpaceX, with ARK buying nearly 3.3 million shares that were worth about $531 million by the end of…

Fresh peace talks between the United States and Iran were unexpectedly cancelled, raising new questions around the durability of the recent ceasefire agreement.The talks, which were scheduled to take place in Switzerland on Friday, were called off shortly after U.S. Vice President JD Vance withdrew from the meeting. The discussions were expected to revolve around Iran’s nuclear program, building on a memorandum of understanding signed by both countries to end their recent conflict.Iranian media reported that Tehran wants clearer evidence that Washington is implementing the terms of the agreement before committing to another round of negotiations. While the cancellation does…

Swiss Re, the global reinsurer, is launching a new Alternative Capital Solutions unit to encompass its activities in insurance-linked securities and retrocessional hedging and execution, with long-standing senior employee Mirjam Wiget set to lead the team.The Alternative Capital Solutions team is launching on July 1st, with Wiget stepping into a new role to coordinate and lead the important hedging strategy and execution of ILS and retro trades to benefit the reinsurer. Wiget has worked at Swiss Re for more than 15 years, having joined the company in 2011 as a Senior Treasury Officer. She worked her way up through the…

(Oil & Gas 360) – This week marked a notable shift in market sentiment. For months, energy markets were focused on disruption, conflict, and supply risk. Now, attention is turning toward reopening trade routes, restoring production, and assessing whether the world is moving from a supply crisis toward a period of greater abundance. Prices moved lower, but capital continued flowing toward oil, gas, LNG, and power infrastructure, suggesting the industry remains focused on long-term demand growth. THIS WEEK’S 5 HEADLINES THAT MATTERED 1. Oil prices fall as geopolitical tensions ease Brent crude declined after Israel and Hezbollah agreed to a…