Author: Money Mechanics

Please enable JavaScript if it is disabled in your browser or access the information through the links provided below. June 02, 2026 Agencies remove additional references to reputation risk Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Office of the Comptroller of the Currency For release at 11:00 a.m. EDT The federal bank regulatory agencies today jointly updated certain interagency documents to remove references to reputation risk. The agencies are taking this action to complement their earlier actions that ended the use of reputation risk in supervision.…

Amazon’s annual Prime Day event is taking place June 23-26, the company announced on Tuesday. This year, the e-commerce giant is holding the deals event earlier than usual, as Prime Day is typically held in July. “Members can save on top brands, trending products, and items exclusive to Amazon, plus fresh groceries, summer essentials, and back-to-school must-haves—all with fast, free delivery,” the company wrote in a blog post. In the past, Prime Day was largely about scoring deals on indulgent items, but in recent years, shoppers have increasingly focused on essentials. Amazon told CNBC that groceries and household essentials will…

Touted by the Trump administration as “eliminating taxes on Social Security,” the new, temporary “senior bonus deduction” is adding to concerns about Social Security’s solvency, even as a COLA increase is expected for the coming year.When President Donald Trump and Republicans in Congress passed the so-called “big beautiful bill” last year, one of the most talked-about provisions was a new, but temporary, bonus deduction for older adults.The $6,000 tax break, available to eligible taxpayers age 65 or older from 2025 through 2028, can be stacked on top of the standard deduction and the extra standard deduction for those over 65…

The cruelest part of the Great Wealth Transfer may be its timing.An estimated $124 trillion will pass between generations through 2048. But by then, even the youngest millennials—one of the generations expected to inherit the most—will be 52. The oldest will be 67.That may be early enough to cushion retirement, but decades too late to really change a person’s financial trajectory.Recent research from Realtor.com® found that buying a first home by age 30 can compound into a 22.5% higher net worth by age 50 than waiting just 10 years to buy. By 52 or 67, that compounding advantage has closed…

(Image credit: Getty Images)Editor’s Note: This article is the second in a five-part special report exploring the connection between your money and your health. Other stories in the series look at 15 ways to lower your healthcare costs, the challenges of long-term care, managing the costs of mental health treatment and what’s new in Medicare this year.From the economic effects of the Iran war to the stock market’s sharp drops to the ongoing pain of higher consumer prices since the pandemic, there’s a lot to worry about lately when it comes to your money.Nearly half of Americans report feeling more…

(Image credit: Getty Images)Several months ago, I reviewed Wealth Your Way: A Simple Path to Financial Freedom by Cosmo DeStefano, a financial strategist, retired CPA and fellow Kiplinger.com contributor.The book’s central idea is that financial freedom is achievable through simple, consistent habits, not just a high income. Building wealth and staying out of financial trouble result when we maintain those habits and behaviors — instead of chasing get-rich schemes.I’m pleased that sales of Wealth Your Way have been robust. After my article ran, I heard from readers who felt that, with today’s economy and political situation, most people are just…

(Image credit: Getty Images)To curb record-breaking credit card debt, the Trump administration has backed a proposal to temporarily cap credit card interest rates at 10% for one year.While the proposal has stalled for now, the underlying debt problems for consumers haven’t. According to the New York Fed, Americans are shouldering $1.25 trillion in credit card debt.And while a change like this could bring relief to borrowers, some estimates suggest it could limit access to credit for millions of Americans. 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…

Retail giant Walmart (NASDAQ: WMT) stock fell 12% in May, according to data provided by S&P Global Market Intelligence. Although it released a strong earnings report, it also warned that pressure might be coming. Looking to Walmart for value Walmart has the largest network of physical stores in the world, with more than 10,000 global locations. It’s also a discount retailer, so it plays an even more important role when shoppers are feeling the pinch of inflation. That’s been going on for a while, and Walmart has been outperforming over the past few years. Will AI create the world’s first…

Software stocks had an exceptional start to June on Monday Investors understand that AI is not a threat to the industry—quite the contrary Which software stocks should you keep an eye on in June? The US software sector delivered one of its strongest trading sessions of the year on Monday, June 1. Among software companies valued at more than $10 billion, 14 stocks gained over 10%, led by , which jumped 20.4%. Only nine stocks in the sector finished lower, with the biggest decline limited to 5.8%. The rally was driven by a series of strong earnings reports that began…

The target investment allocation range for the Mt. Logan Capital Management, Ltd. quota share structure named Scenery Re has been increased for the insurance-linked securities (ILS) portfolio managed by PGGM, the Dutch pension fund investment manager, on behalf of its end-client pension PFZW.This comes as two of the private collateralized reinsurance sidecar structures that PFZW has been investing in are reportedly being downsized, resulting in the pension fund’s target allocation ranges for Munich Re and Swiss Re operated sidecars now having shrunk. PGGM, the Dutch pension investment manager first allocated US $200 million to Scenery Re on behalf of its…