Author: Money Mechanics

Key Takeaways Olympic gold medals aren’t solid gold, but they’re still worth thousands based on metal content alone.Most U.S. Olympians no longer owe federal taxes on medal-related prize money, easing a long-standing financial burden.The real value of a medal often comes after the podium, through exposure, endorsements, and career opportunities. With the Winter Olympic Games Milano Cortina 2026 in full swing, attention extends beyond the competition itself to a practical question: what is an Olympic medal actually worth? The answer depends on how you define “worth.” There’s the literal value of the metal, the tax implications that could follow, and…

Key Takeaways Constantly reacting to headlines can undermine long-term retirement security, so it’s important to know when you should tune out the noise.If you’re feeling unsure, a financial plan helps you stay disciplined and avoid emotional decisions.News matters most when it reflects sweeping changes to tax law or real policy changes, such as interest rate shifts. Retirement planning can feel stressful in today’s 24/7 news cycle. Markets move on every headline, and many retirees instinctively adjust their portfolios in response. But financial advisors warn that reacting to short-term news can do more harm than good—pushing you to invest emotionally or…

Key Takeaways Thousands of dollars in employer contributions, tax credits, and workplace perks go unclaimed every year—not because people don’t qualify, but because they never opt in.From 401(k) matches to health savings accounts to rewards credit cards, the common thread is the same: the money is there, but you have to actively claim it. Almost 3 in 10 workers leave their employer’s full 401(k) match on the table, according to Empower. That’s just one of several ways unclaimed money can quietly pile up—in tax credits, workplace perks, and benefits accounts that expire at year’s end. None of these require extra…

Key Takeaways Short-term wins can be luck, not skill: Buffett’s “lucky monkey” analogy warns against mistaking hot streaks for talent.Long-term results reveal real ability: True skill shows up across full market cycles, not just one strong run.Survivorship bias hides the many managers who underperform or disappear.Buffett argues that steady, hands-off investing often beats most professionals. The internet is flooded with people flaunting supposed stock gains, crypto wins, and startlingly profitable options trades. Some sell courses, while others want you to subscribe. But even if they’ve really made superb bets, Warren Buffett suggests you should still be skeptical. Let’s call it…

(Image credit: Getty Images)For decades, our days are dictated by deadlines, meetings, responsibilities and routines. The alarm rings, we hustle through the day, crash into bed and repeat.Rest often gets pushed to the bottom of the list. But in retirement, that dynamic finally flips, and learning how to rest intentionally becomes more important than ever.The transition into retirement is more than a financial shift. It’s a mental one. If you’re not giving yourself space to reflect, recharge and create, you might be missing one of the most overlooked opportunities of this new chapter: The value of mental white space. From…

(Image credit: Getty Images)”Pre-retiree” is too broad a term. Theoretically, everyone is either a pre-retiree or a retiree. For the purposes of this column, I’m defining a pre-retiree as a person in the final five years before retirement.In my experience, this is the point when a light bulb flashes, retirement is within reach, and folks start to get serious about their planning. If that feels like you, read on.Below are five mistakes I often see pre-retirees make. Not everyone will regard them as mistakes, however. That’s the tricky thing about personal finance — what is a mistake for most may…

(Image credit: Getty Images)A well-designed retirement plan shouldn’t focus on chasing returns or trying to time the market. Instead, it should organize your money according to its purpose.A three-bucket approach is an effective way for people nearing or in retirement to align assets with risk tolerance and cash-flow needs. By separating funds into three buckets:A safety bucketAn income bucketA growth bucketThis strategy can help reduce stress and limit costly financial mistakes. 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…

(Image credit: Getty Images)Roth conversions have become a popular topic in retirement discussions, and for good reason.With concerns about future tax rates, required minimum distributions (RMDs) and the tax treatment of inherited retirement accounts, many investors are taking a closer look at whether converting traditional retirement assets to a Roth IRA makes sense.At its core, a Roth conversion involves moving money from a traditional IRA or 401(k) into a Roth IRA and paying income taxes on the converted amount today. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus…

(Image credit: Getty Images)Most people think retirement planning is about reaching a magic savings number. Save enough, invest wisely, and everything else will fall into place.But after years of working with individuals and families approaching retirement, I’ve learned that this narrow focus on saving often leaves people feeling unprepared, even when they’ve done everything “right” financially.I’ve found three main reasons for this retirement planning uneasiness. 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 for Kiplinger’s Free…

(Image credit: Getty Images)Question: We’re 78, retired, and want to use our 2026 RMD to treat our two children, spouses, and six grandkids to a week-long vacation. We’re mobile but don’t have the same energy as the younger folks (no matter how much coffee we drink)! How should we approach this?Answer: For people with money in a traditional retirement savings plan, required minimum distributions (RMDs) can be a blessing and a curse. While RMDs can inevitably produce a sizable tax bill, they can also serve as an opportunity to splurge on experiences you otherwise wouldn’t dream of.If you’re 78 years…