Author: Money Mechanics

Personal income increased $54.9 billion (0.2 percent at a monthly rate) in June, according to estimates released today by the U.S. Bureau of Economic Analysis (BEA). Disposable personal income (DPI)—personal income less personal current taxes—increased $48.3 billion (0.2 percent), and personal consumption expenditures (PCE) increased $65.2 billion (0.3 percent).Personal outlays—the sum of PCE, personal interest payments, and personal current transfer payments—increased $70.0 billion in June. Personal saving was $646.1 billion in June, and the personal saving rate—personal saving as a percentage of DPI—was 2.7 percent.The increase in current-dollar personal income in June primarily reflected increases in compensation, personal income receipts…

With just over one month until our next catastrophe bond and insurance-linked securities (ILS) market conference, tickets are selling fast and the Early Bird rate expires at the end of Friday this week. We have added four new expert speakers to the Artemis London 2026 website. Join us on September 1st for a full-day of in-depth ILS market discussion and valuable networking. Register to attend the conference here.Artemis London 2026 is going to be our fifth in-person conference focused on the catastrophe bond and insurance-linked securities (ILS) market to be held in the City of London. For this year’s event,…

Wondering if Take Charge America is a good option for debt settlement or debt relief? In this review of the company, we’ll look at their reviews and ratings from across the web, and we’ll break down their services when it comes to managing and decreasing debt. Wondering if credit counseling is your best move? Nonprofits like Take Charge America shine for some situations and fall short for others. Our free quiz compares counseling, settlement, consolidation and bankruptcy against your actual numbers. Take the Free Debt Relief Quiz Who is Take Charge America? Take Charge America (TCA) is a nonprofit credit…

Microsoft is in a unique position as AI overtakes the tech industry. It’s one of the world’s largest cloud providers and software-as-a-service companies, while also holding valuable stakes in the two biggest AI labs, OpenAI and Anthropic. Those incentives are starting to clash as Microsoft posts blockbuster financial results. The company just reported an extremely profitable quarter with $90 billion in revenue and net income of $35.8 billion. For the fiscal year, which ended June 30, Microsoft reported $331.8 billion in revenue with a net income of $133.7 billion for the year. And CEO Satya Nadella is not about to…

Usually, there are crosscurrents in financial markets, but today’s seem particularly demanding.The war in Iran seems always there, affecting short-term policies while being a longer-term problem. We don’t know where it will go, just that the on-again, off-again intensity of the war affects the stock and bond markets.Adding to this scenario is AI. Artificial intelligence is very promising, but it’s hard to determine who the big winners are. The staggering sums of money that companies are investing in AI is worrying many investors, while the earnings that AI-related companies are reporting are impressive. From just $107.88 $24.99 for Kiplinger Personal…

For older adults who need supervised care throughout the day, an adult day center can offer some much-needed support. These nonresidential facilities provide services such as medical assistance, social interaction and organized activities for participants, who typically have some physical or cognitive impairment. And their adult child, spouse or other caregiver can use the time to work or take a break from their caregiving responsibilities.Generally, there are three types of adult day centers. Social day centers primarily offer opportunities for attendees to interact with one another and participate in group activities. A medical day center also provides health-focused services, such…

Los Angeles rents dropped to a nearly five-year low this spring, offering tenants some very welcome relief. Yet, the city’s newly minted college graduates still find themselves squeezed by stubborn housing costs.L.A. County’s median asking rent dropped 3.4%, or $91, to $2,603 by the end of June, hitting a level not seen since late 2021, according to the latest Realtor.com® Los Angeles rent report.For context, the current median sits nearly 10% below the 2022 peak. Realtor.com economist Jiayi Xu attributes this recent pullback in rents to a surge in multifamily construction, which boosted supply and, in doing so, put downward…

Some stock drops look like bad news on the surface. Some are, yes, but some also tell a completely different story underneath. And I think American Express (AXP) investors have been handed the latter. The payments giant beat earnings expectations, raised its full-year revenue guidance, and reported its strongest card member spending growth in three years. The stock fell anyway. This kind of reaction can frustrate shareholders and even confuse casual observers. But for “Mad Money” host Jim Cramer, it’s a pattern he’s seen before, and one he thinks is creating a clear opening. I think it’s a terrific opportunity…

People are worried about rising interest rates at the long end of the curve. “The Fed should raise interest rates,” they say, “to bring interest rates down.” Just a quick rationality check there: read the sentence a couple of times. I know you’ve been told that long interest rates go down when the Fed has ‘credibility,’ and they can only have credibility if they raise rates. That’s double-poppycock. First, because when the Fed raises interest rates, interest rates go up even at the long end of the curve. Don’t believe me? Here’s the 30-year bond yield, plotted against the Fed…

The IRS is successful at finding and penalizing taxpayers who did not take their full required minimum distributions. IRA owners should know about the penalty and how to avoid or minimize it. A few years ago, the IRS discovered that many people either weren’t taking RMDs or incorrectly calculated them. So, the IRS tweaked its systems to identify taxpayers who might not be in full compliance with the RMD rules. It is quick to impose penalties.The good news is that the SECURE Act 2.0 finally reduced the penalty for not taking the full RMD.For decades the penalty was 50% of…