Author: Money Mechanics

As the nation braces for a sweltering summer in 2026, homeowners and residential builders are already facing a critical shortage of skilled labor.But now, AI data centers are seemingly acting as a vacuum, sucking up licensed electricians and HVAC technicians away from the residential sector, which could prove detrimental to homeowners and homebuilders.Another issue is that the influx of temporary workers has strained the housing supply, causing rents and home prices to skyrocket.Abilene, TX, illustrates this upcoming challenge. Stargate, the new 4 million-square-foot AI data center, backed by OpenAi and Oracle, sits on the outskirts of the small West-Central Texas…

Oil prices remain under pressure as Middle East tensions ease and supply concerns fade. Strategic reserve replenishment and seasonal demand could help establish a floor for crude. WTI faces key support near $75, while $79 remains an important resistance zone. Though prices initially gapped higher on the back of weekend news that the Strait of Hormuz had been closed again by Iran, they have since been falling to return to Friday’s levels. This is because the strait hadn’t been fully closed, although ship tracking data pointed to a sharp fall in transits. More to the point, the first round of…

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. June 22, 2026 Federal Reserve notes with deep sadness the passing of Alan Greenspan For release at 8:45 a.m. EDT The Federal Reserve notes with deep sadness the passing of Alan Greenspan. Chairman Greenspan served as the 13th Chairman of the Board of Governors from 1987 to 2006, and his contributions to monetary policy and economic thought left a lasting mark on this institution, on the broader field of economics, and on the…

Taylor Swift held a lavish, celebrity-filled bachelorette bash at her iconic Rhode Island mansion—just weeks before she and Travis Kelce are set to exchange vows. The countdown to Swift and Kelce’s wedding is officially on, and this weekend, the “Lover” hitmaker, 36, reportedly welcomed her closest friends to her Rhode Island estate, which is famously nicknamed Holiday House, for a lavish bachelorette celebration, according to TMZ.The outlet reported that several of Swift’s longtime friends arrived at the waterfront property, with fireworks later lighting up the sky above the home as the festivities got underway.Details surrounding Swift and Kelce’s big day…

The largest IPO in history just happened, and it’s barely a week old. Space X (NASDAQ: SPCX), priced at $135, surged past $200 in its first days of trading and is still moving. But according to Luke Lango of InvestorPlace, the more important question isn’t what just happened with SpaceX. It’s what comes next—because two more historic IPOs are on the way before year’s end, and the template for how to play them is already written. Why SpaceX Ran—And What It Signals The explosive opening wasn’t purely conviction. It was mechanics. Only about 5% of the float was tradable at…

Required minimum distributions from traditional IRAs and other qualified retirement accounts do not have to be taken in cash.Annual RMDs must be taken from most qualified retirement accounts beginning when the account holder reaches age 73. Beneficiaries who inherit IRAs and other retirement accounts also might be required to take RMDs. Many people are surprised to learn that RMDs do not haeve to be made in cash. An RMD (or any distribution) can be taken in cash or property. A distribution of property is known as an in-kind distribution. IRA contributions (other than rollover contributions) must be made in cash.…

HGTV star Christina Haack has yanked her sprawling Tennessee farmhouse from the market—less than two weeks after putting the dwelling up for sale and for rent. On June 9, the 42-year-old TV personality listed the elegant abode for $5.3 million. Just one day later, the property also became available for rent for $20,000 a month. However, Realtor.com® can exclusively reveal that Haack has quietly withdrawn the property from both the sales and rental markets just weeks after listing it, offering no clue as to why.It comes just over a year after Haack claimed full ownership of the property, which had previously been…

If you’re like most people, you work hard not only to cover everyday necessities, but also to prepare for a day when you don’t have to work anymore.Sadly, comprehensive retirement planning is a challenge for many workers. More than 56 million Americans don’t have access to an employer-sponsored retirement plan like a 401(k),according to a 2024 Pew Charitable Trusts survey.The good news is that a lack of an employer plan doesn’t mean you can’t retire successfully—you just need to take a different approach. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just…

Editor’s note: This is part two of a two-part series about estate planning. Part one is These Are the 3 Pillars You Need Before You Build Your Estate Plan. In the first article in this two-part series on estate planning, I shared the three foundational financial pillars you need to have in place before creating your estate plan. This article also comes in threes — the three-step process for executing an effective estate plan.When most people think about estate planning, they picture it as signing a will or trust and checking the box as complete. The documents are drafted, notarized…

As Americans face rising costs on just about everything, the amount of debt they’re taking on is going up, too. Credit card balances recently reached a record $1.28 trillion. And according to credit-reporting company Experian, 38% of U.S. consumers now have a personal loan, with the number of these loans on credit reports reaching 67.5 million. Both of those figures represent the highest levels since Experian started collecting data in 2017.For some, the strain of staying afloat is becoming more evident. The financial stress index from the National Foundation for Credit Counseling (NFCC), which reflects the financial ability of consumers…