Author: Money Mechanics

Key Takeaways A reintroduced House bill would let employees age 50 and older roll over some or all of their 401(k) savings into an annuity.Financial advisors warn that annuities can be complex, costly, and illiquid.The legislation also aims to make 401(k) rollover information easier for workers leaving a job to understand. Many workers don’t fully grasp their distribution options. Get personalized, AI-powered answers built on 27+ years of trusted expertise. Older workers who have 401(k)s may soon have a new investment option thanks to a proposed bill. The legislation, known as the Retirement Simplification and Clarity Act, aims to allow…

The Michigan Department of Treasury has been processing a significant number of returns early this tax season. State data show that more than 1.6 million Michigan returns have been filed, and more than 1.1 million of those have already been processed as of February 26.That’s about 45% more than this time last year, and the Wolverine State has reportedly issued roughly $565 million in refunds so far.While that all sounds good, the high return volume could mean that some tax refunds move more slowly than expected. Michigan also uses a modernized tax processing system with enhanced accuracy checks, which might…

Shares of Cava Group (NYSE: CAVA) surged after the Mediterranean-themed restaurant operator issued upbeat guidance with its fourth-quarter earnings report. The stock is up more about 45% year to date but still down about 15% over the past year. Let’s dig into the company’s latest results and prospects to see if the stock’s momentum can continue. Will AI create the world’s first trillionaire? Our team just released a report on the one little-known company, called an “Indispensable Monopoly” providing the critical technology Nvidia and Intel both need. Continue » 2025 was a difficult year for Cava stock, with its shares getting nearly…

Gold is doing exactly what it’s supposed to do. While equities crumbled on Friday — the Dow shedding 715 points, the Nasdaq dropping 1.08%, and the S&P 500 losing nearly 1% — the yellow metal surged roughly 1% to $5,234.25 an ounce, pushing toward four-week highs and confirming its status as the ultimate crisis asset in a world drowning in inflation uncertainty, geopolitical risk, and AI-driven labor destruction. April gold futures on COMEX settled near $5,245, silver ripped 6% higher to $92.70, and the entire precious metals complex signaled something that equity markets are only beginning to digest: the macro…

OpenAI CEO Sam Altman announced late on Friday that his company has reached an agreement allowing the Department of Defense to use its AI models in the department’s classified network. This follows a high-profile standoff between the department — also known under the Trump administration as the Department of War — and OpenAI’s rival Anthropic. The Pentagon pushed AI companies, including Anthropic, to allow their models be used “all lawful purposes,” while Anthropic sought to draw a red line around mass domestic surveillance and fully autonomous weapons. In a lengthy statement released Thursday, Anthropic CEO Dario Amodei said the company…

KEY TAKEAWAYS As Americans’ average life expectancies increase, the average amount of savings might not last an entire retirement.Retirement accounts can shift to a “purpose-oriented portfolio strategy” and increase savings so that they earn 4% to 5% more than inflation. Americans are facing longer retirement as well as higher prices and their savings may not stretch as far as they’d like. Not only are people living longer, but sometimes they are forced to retire sooner than they expect to. Stubborn inflation could further eat into retirement income, leaving retirees with less money than anticipated. A 2025 study by investment firm…

Key Takeaways Greg Abel delivered his first shareholder letter as Berkshire Hathaway’s CEO on Saturday, after Warren Buffett stepped down from the role in December.Berkshire’s operating earnings dropped nearly 30% in Buffett’s final quarter as CEO, as the company took write-downs of its stakes in Kraft Heinz and Occidental Petroleum. Warren Buffett’s successor Greg Abel wants Berkshire Hathaway investors to know he’ll be able to build on the legendary investor’s legacy. But can he convince them? In the new CEO’s first annual letter to Berkshire Hathaway (BRK.A, BRK.B) shareholders Saturday, Abel sought to assure investors of his commitment to upholding values…

Key Takeaways Researchers have found evidence suggesting that the housing affordability crisis is directly linked to incomes, not housing supply.That casts doubt on whether the government can bring down housing costs by encouraging new construction. Get personalized, AI-powered answers built on 27+ years of trusted expertise. An analysis by researchers at the Federal Reserve Bank of San Francisco challenges the common assumption that homes have gotten more expensive because too few have been built.The analysis, published earlier this month, showed that cities across the country have built housing faster than their populations have grown. Home prices, meanwhile, tend to rise…

As the world’s largest manufacturer of heavy construction and mining equipment, Caterpillar (CAT) has long been seen as a bellwether for the global economy. Happily for long-term shareholders, CAT’s returns have greatly outpaced the global economy – and U.S. stock market – for decades.Caterpillar’s outperformance in the 21st century was never a foregone conclusion. If anything, a company founded a century ago to supply tractors for delta farmers and New Deal works projects should be about as old-economy as they come.It’s not. Caterpillar has spent the past two decades navigating massive cyclical changes to the global economy very much to…

(Image credit: Getty Images)It’s common to feel like you’re behind when it comes to building wealth, especially if you are measuring your progress against traditional age-based milestones. Many people have been taught to follow a set path: start saving for retirement in your twenties, invest a set percentage of your income in your thirties and increase contributions later in life.In reality, financial lives rarely follow a straight line. Career changes, caregiving responsibilities, divorce, periods of unemployment or simply getting a later start can all shift your timeline. As a result, you may not be where you expected to be for…