Author: Money Mechanics

Key Takeaways U.S. retail sales fell in January, Census Bureau data showed.Sales at auto dealerships and gas stations fell, but receipts at other retailers moved higher, which economists said showed continued strength in the U.S. consumer.Tax refunds are expected to be higher in 2026, which could add more upside for retail sales, but higher gas prices could be a headwind. Snowy weather slowed shoppers in January, but economists expect them to revive spending later this year. Census Bureau data showed that U.S. retail sales fell in the first month of 2026, according to a report that was delayed due to…

Key Takeaways The median 401(k) balance for workers in their 30s is $78,857, according to 2026 data from Empower.Contributing to retirement savings in your 30s allows you to benefit from decades of compound interest.Fidelity recommends saving 3 times your salary by age 40 to stay on track for retirement. Get personalized, AI-powered answers built on 27+ years of trusted expertise. If you’re in your 30s, you may have many competing financial priorities, such as student loans, rent, or raising a family. You might be thinking about a wedding or a new home in the next few years, too. All of…

(Image credit: Getty Images)For advisory firms with a large client exposure to alternative investments, tax season unearths operational gaps they did not anticipate.The mad manual scramble for K-1s and amended forms strains operations. For decades, I have seen these pressures disrupt even the most talented teams and force advisers into reactive decision-making that erodes the confidence in accuracy and completeness and affects staffing and client trust.In practice, investment sophistication often outpaces back-office infrastructure. Even established advisory firms can find themselves unprepared as new funds add layers of complexity that overwhelm legacy workflows. From just $107.88 $24.99 for Kiplinger Personal Finance…

(Image credit: Getty Images)The Dow Jones Industrial Average recovered from another 1,000-point intraday decline on Friday amid another volatile session to end a volatile week. Investors, traders and speculators will now consider the implications of a sagging employment market as they process an escalating conflict in the Middle East.According to the February jobs report, the U.S. nonfarm payrolls declined by 92,000 last month. “The biggest issue is what does this negative number mean for monetary policy,” Raymond James Chief Economist Eugenio J. Alemán writes.Officials will discuss interest rates while “oil prices and gasoline prices are up and thus, inflation is…

Key Takeaways Taxes, market risk, longevity, and long-term care costs are key threats to retirement savings, according to one expert. Contributing to a Roth IRAs or doing a Roth conversion, if you’re not eligible, can help reduce tax burdens in retirement. Get personalized, AI-powered answers built on 27+ years of trusted expertise. Some retirees may be in for a rude awakening when they start taking distributions from retirement accounts like traditional 401(k)s or IRAs and incur large tax bills. Investopedia spoke with Stephen Dissette, an investment advisor representative at Horter Investment Management, to discuss the steps people should take now…

(Image credit: Getty Images)Estate planning can be a complex process during which professionals collaborate to achieve their clients’ goals.Financial advisers and wealth managers sit at this table, working with lawyers, tax accountants, trust officers, insurance specialists and real estate professionals, among others.However, financial advisers can get more involved in estate plan preparation and analysis — providing more value to clients, forging a deeper relationship with them and increasing revenue — with the help of modern estate planning tools. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up…

Pricey medical bills can be overwhelming, forcing people to cut spending in other areas of their lives or to rely more heavily on high-interest debt. A survey of more than 2,000 people by the Employee Benefits Research Institute found 40% reported dealing with increased out-of-pocket health care costs in the past year. Of those who did, 55% said they reduced their discretionary spending as a result, while more than one-third (35%) said they increased their credit card debt. However, there are ways to ease the burden of medical bills without having to lean on credit cards, which often have sky-high…

Key Takeaways Gas prices have risen about 11% over the past week, as the surge in oil prices sparked by the escalating conflict in the Middle East quickly feeds through to the costs that consumers face at the pump. An extended conflict that disrupts the global supply of oil could continue to push fuel prices higher, which would have an impact on overall inflation levels and weigh on economic activity. Drivers will likely experience more pain at the pump after a big jump in gas prices this week sparked by developments in the Middle East. The average cost of a…

(Image credit: Getty Images)When most people think about Social Security, they picture a retired worker collecting a monthly check based on their own earnings record.But today’s families don’t always fit that traditional mold and can vary in several ways from the traditional family structure of the past.It is increasingly common for retirees to have younger spouses, minor children, adult children with disabilities or even grandchildren in their care. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK FOR FREE ISSUE Sign up…

Key Takeaways Gas prices have risen across the U.S. this week as oil prices have jumped amid a widening Middle East conflict that threatens supplies.The national average now stands at $3.32, with Kansas and Oklahoma the cheapest and California, Washington, and Hawaii in the mid- to upper-$4 range.After falling below $3 in December for the first time since 2021, the national average stayed there for about 13 weeks before surging this week. U.S. Gas Prices Climbed Quickly This Week, Rising Above $3.30 Oil prices have climbed steeply as the Iran war fuels fears of supply disruptions, and the impact has…