Author: Money Mechanics

Key takeaways Side hustles can help you test business ideas and potentially build real wealth—Apple, Twitter, and Instagram all started that way.A side hustle can build skills, confidence, and connections that pay dividends far beyond earning extra cash.Start with clear goals, align your skills with market demand, and use cost-effective tools to set up and promote your business. Track progress, measure your return on time and money, and adapt when needed. Side hustles—secondary jobs or businesses outside your primary occupation—can be a great way to earn extra income or pursue something you truly love. They can also help you test…

If you’re worried about being able to afford retirement, remote work might be your lifeline. Not only can it extend your career, it can also redefine what retirement looks like altogether. Roughly 40% of Americans say they plan to work during their retirement years, according to a study by Northwestern Mutual. That figure climbs to 45% for millennials and 48% for Gen Xers, many of whom aren’t just trying to stay active—they’re trying to stay afloat. For older workers in particular, the rise of remote work could offer the flexibility and freedom to ease into retirement instead of falling off…

Xiongan, China’s “city of the future” and a pet project of Xi Jinping, the country’s supreme leader, has become a byword for costly vanity projects. Central-government and provincial planners have spent at least 835bn yuan ($116bn) on the city since 2017, when they broke ground in what had been marshy farmland 125km south of Beijing. It has been touted as a solution to China’s urban maladies, with residents promised short commutes through leafy parks instead of cough-inducing traffic jams. The city is part, officials say, of a “one-thousand-year plan” in civilisation-building. A book about Xiongan from a state publisher lists…

Key Takeaways By 60, aim to have saved at least six to eight times your salary—but if you want a real cushion, try to aim for as close to 20 times your income as possible by retirement. The 4% rule offers a solid rule of thumb for your overall retirement goal, but no matter your benchmark, don’t forget to take into account factors like retirement income, potential healthcare needs, and the tax status of your investments. If you’re behind, don’t panic—just focus on what you can control: Save more, spend less, and make the math work for your life. Turning…

The alarm doesn’t go off.Your sleep-monitoring bed has already adjusted your wake-up time based on your biometrics and calendar.It’s 2035, and you’ve tapped your matured retirement target date fund. You officially made it. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Profit and prosper with the best of expert advice – straight to your e-mail. You and other Gen Xers now fill the ranks of…

Millions of Americans have much of their net worth invested in real estate.Equity in these properties should grow in value over time, but for many, it’s “trapped” because it can’t be accessed without a sizable capital gains tax obligation when the property is sold.The result can be missed opportunities as investors hold out for the right market, lower capital gains tax rates or the property getting passed through their estate plan, at which point their heirs could take advantage of a step-up in basis. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign…

Key Takeaways Buffett has long been a big proponent of the index funds that Bogle helped bring to the masses. However, his public declaration that Bogle is an American hero may have also been influenced by the fact that one of Bogle’s funds just helped Buffett win a $1 million bet. Buffett bet that the Vanguard 500 Index Fund would outperform five funds-of-hedge-funds over a decade—and won by a mile. Warren Buffett once proclaimed that Vanguard founder Jack Bogle “has probably done more for the American investor than any man in the country.” Buffett’s praise appeared to affirm his longstanding…

Homeownership has often been viewed as a milestone, part of the American dream.Times are changing. A recent Bankrate survey found about 45% of homeowners have regrets about their homes.With a tough housing market, inflation, high interest rates and record amounts of debt, a majority of Americans’ wallets are being pushed to the brink. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Save up to 74% Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more – straight to your e-mail. Profit and prosper with…

As you approach retirement, you may think that downsizing to a smaller home makes a lot of sense. After all, downsizing can lower your living costs and reduce the hassle that comes with taking care of a large house. And if your kids have flown the nest, some of your bedrooms are probably gathering dust anyway.Those are certainly compelling reasons to shift to a less-spacious house. But before you pull the trigger, give some thought to the reverse: “upsizing” to a larger home that suits your expected lifestyle in retirement. You may, for example, want a house with adequate space…

Question: I’m 57, with $1.8 million saved, and want to pivot to a low-stress job for the next decade. My wife says to keep cranking and retire at 62 instead. Who’s right?Answer: Work culture in the U.S. is very different from that in other parts of the world. As Americans, we’re used to grinding away and taking little time off. And while some people thrive in a high-pressure environment, for others, it’s more stressful than it’s worth.The Society for Human Resource Management reports that in a 2024 survey, 44% of Americans felt burned out at work. This echoes a 2023…