Author: Money Mechanics

This Week In A Nutshell: The Iran War continues to fuel market volatility as it enters its fourth week, particularly as the White House signals it is seeking a resolution. Upcoming Attractions   This week will feature many speaking engagements from various Fed officials, but key economic data releases will be scarce. The primary focus for markets will continue to be on the situation in the Middle East, specifically the timeline for resuming oil shipments from the Persian Gulf. Rates may also come down this week if Fed officials, in their speeches and interviews, attempt to change the rather hawkish…

David Sacks has used up his days as Donald Trump’s AI and crypto czar. Speaking with Bloomberg on Thursday, the longtime entrepreneur, investor, and podcaster, confirmed that his non-consecutive 130-day stint as a special government employee is over and that he’s moving on to co-chair the President’s Council of Advisors on Science and Technology (PCAST) alongside senior White House technology adviser Michael Kratsios.  “I think moving forward as co-chair of PCAST, I can now make recommendations on not just AI but an expanded range of technology topics,” he told Bloomberg via a video interview. “So yes, this is how I’ll…

(Image credit: Getty Images)Why does online sports betting feel like a new phenomenon? It’s likely because it wasn’t until 2018, when the U.S. Supreme Court struck down a federal law that had prevented most states from legalizing sports betting, that states were free to allow it.That opened the door for sports betting to become legal and socially acceptable in many states.By 2023, sports betting (both in person and online) was generating more than $120 billion in bets annually. And all along the way, gambling websites have been perfecting their marketing, and mobile apps have made the betting process feel more…

Few people would consider the field of retirement planning a hotbed of innovation. And yet in the last few years, some top financial services companies have been in the equivalent of a space race, launching a swath of competing investment products designed to help retirees manage their income. (Image credit: Getty Images)What’s going on?Essentially, after decades of helping people stay laser focused on the accumulation of wealth, industry leaders (and retirees) have been grappling with the next challenge: How do you turn decades of hard-won savings into a steady stream of income for the rest of your life?“With millions of…

(Image credit: Getty Images)When oil prices climb, most people brace for higher gas prices, and stop there. But the impact of oil goes far beyond what you pay at the pump.Oil is one of the most important inputs in the global economy. It powers transportation, supports manufacturing and even plays a role in food production. So when prices rise, the effects ripple outward and are often quiet at first. But then it shows up in places you might not immediately connect to crude oil.And with ongoing geopolitical tensions, including the conflict involving Iran, markets are reacting quickly. Even modest increases…

(Image credit: Getty Images)Buying in bulk can offer valuable savings, helping to combat the continuously rising grocery prices we’re facing and helping you spend less on groceries. Understanding what to buy in bulk is key to getting a good deal, though, since bulk buys can backfire and actually cost you more.When buying in bulk, your total spend on an item might be higher, but you should be paying a lower price per unit. Storage challenges and spoilage risks can eat into your savings, highlighting the importance of careful planning and strategic buys.Deal psychology can also prompt you to overbuy and…

Thanks to the war in Iran, gas prices are soaring, with the cost per gallon for premium fuel topping $5.00 in some places. Even a gallon of regular gas will set you back $3.98 per the national average, according to AAA.Retirees and snowbirds heading back north or across the country are in for a bit of shellshock at the pump. After all, the price of a gallon of gas may be a $1.00 or more higher than what they paid a mere month ago.”It’s very remarkably unpredictable as to what the next chapter will be,” in regards to the price…

Each week in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter editor, answers questions on topics submitted by readers. This week, she’s looking at four questions on the IRS and how the 2026 tax filing season is going so far. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. Calling the IRSQuestion: I have been trying to reach the IRS on its main toll-free number (800-829-1040), but I can’t reach a live person. Is this the norm?Joy Taylor: Yes. Unfortunately, taxpayers and tax professionals are having a difficult time trying to reach the IRS by…

(Image credit: Getty Images)After briefly dipping earlier this year, average 30-year mortgage rates have jumped from roughly 5.99% to around 6.38% in a short window, according to Freddie Mac.That is not a dramatic spike compared to the highs of 2023, but it is enough to rattle a housing market that was already on edge heading into the spring buying season.For buyers, sellers and homeowners hoping to refinance, the latest move underscores a frustrating reality: the housing market is not following a smooth recovery path. Instead, it is reacting in real time to inflation concerns, global instability and shifting expectations about…

(Image credit: Getty Images)If you’re a lifelong saver, a coupon clipper, a DIYer or someone who still hears your parents’ voices saying, “We’re not stopping for dinner — we have food at home,” you might belong to a very special club: The group we call Midwestern Millionaires.Just because you might not be from the Midwest does not mean your values can’t resonate with the Midwestern Millionaire’s.We’ve worked with thousands of retired military families, first responders, federal workers and government employees across the country who share the same deeply rooted values: Work hard, save diligently, spend wisely and create a life…