Author: Money Mechanics

Key Takeaways Second marriages often involve prior financial obligations that require intentional planning and discussion.Couples should clearly define how income flows, decisions are made, and responsibilities are shared.Existing commitments to children, former spouses, or debts need to be intentionally built into the plan.Estate plans and beneficiary designations should be updated to reflect blended-family goals. Second marriages often bring financial questions that differ from those in a first marriage. Clients may be entering a marriage with existing assets, prior financial commitments, or family responsibilities that are already in motion. Blended or second marriages also often involve layers of legal and structural…

Does the idea of filing your tax return make you wait until the last minute? Do you only start gathering your tax documentation at year-end? You aren’t alone.Every year, taxpayers can fall into “bad tax habits” that seem convenient in the short run but may later lead to significant refund delays or even a dreaded IRS audit. Fortunately, there are simple, strategic shifts you can make right now to kick these bad habits to the curb.From tracking your “sweat equity” to staying informed through tax podcasts, here are several ways you can avoid common bad tax habits in 2026. From…

Ferrari drives higher on better-than-expected earnings Proactive uses images sourced from Shutterstock Ferrari (NYSE:RACE) reported fourth quarter and full-year financial results above expectations, sending US-listed shares of the Italian luxury carmaker up 9% on Tuesday morning. For the fourth quarter, Ferrari posted net revenue of €1.8 billion, exceeding the consensus estimate of €1.77 billion. Net profit for the period was €381 million, compared with the forecast of €374 million. For the full year 2025, Ferrari reported net revenues of €7.15 billion, a 7% increase from the prior year. Operating profit (EBIT) rose 12% to €2.11 billion, representing a margin of 29.5%.…

Dennis Shea, executive director of the J. Ronald Terwilliger Center for Housing Policy at the Bipartisan Policy Center, in an interview with The Builder’s Daily, noted the strong bipartisan support for the legislation.  “We view housing as a non-partisan, bipartisan issue. High housing costs are impacting communities of all kinds throughout the country—impacting red states, impacting blue states. So it’s really not just a red or blue issue; it’s an American issue. Housing is a bit of a bright, bipartisan spot in an otherwise polarized Washington,” Shea said.  Key provisions in the Housing for the 21st Century Act The HOME…

Key Takeaways The cost of housing for both homeowners and renters is lower than the national average.Council Bluffs has many annual community events, parks, and recreation centers to keep retirees active.Residents of Council Bluffs can easily visit entertainment, cultural sites, and dining spots in Omaha.Local transit services provide access around town and into downtown Omaha. Council Bluffs, Iowa, is a Missouri River city where retirees will find Midwest affordability along with access to the best parts of urban living. It was recently named one of Investopedia’s 100 best places to retire. With a population under 63,000, it’s an appealing choice…

Key Takeaways Forty-two states don’t tax Social Security income.Thirty-seven states don’t tax most military retirement pay.Sixteen states exempt pension income from state taxes.Nine states have no income tax. This count includes Washington, which taxes high earners’ capital gains only. After a lifetime of contributing to Social Security, building up a retirement plan, or earning a pension, you may be bracing for a big tax hit in retirement. Now you’re ready to punch your last time card, and your state has its hand out for some tax dollars as well. Or does it? While federal taxes are unavoidable, some states are…

Key Takeaways Overspending, rising healthcare costs, and a lack of structure may signal that you retired too early.Exiting the workforce early can also permanently reduce Social Security benefits, further depleting your potential nest egg.If you fear you retired too early, you have options: Downsizing, finding new income streams, or rejoining the workforce can help stabilize your retirement. More than half of Americans stop working earlier than they expected—and not always by choice. According to December 2025 research from the Transamerica Center for Retirement Studies, 52% of retirees say they left the workforce sooner than planned, often due to health issues…

Key Takeaways Asia often dominates global affordability rankings, and lesser-known spots like Penang, Hoi An, Dumaguete, and Chiang Rai offer retirees lower costs without the inflated prices of major expat hubs. Monthly living costs in these destinations can run as low as $600, but retirees should research visa requirements, health care access, and climate considerations before making the leap. With only about six in 10 Americans saying that they have a retirement savings account such as a 401(k) or IRA, the dream of living a comfortable life after leaving the workforce may feel increasingly unlikely for many. For those looking…

Stock futures were little changed ahead of December U.S. retail sales data Tuesday, a day after the Dow Jones Industrial Average closed at a record high for a second straight session. S&P 500 futures were up 0.2%, while Nasdaq 100 and Dow futures were up 0.1% and fractionally higher, respectively. Yesterday, the tech-heavy Nasdaq and benchmark S&P 500 closed a respective 0.9% and 0.5% higher, while the blue-chip Dow finished up less than 0.1% after also setting an intraday record for a second consecutive trading day. Investors are awaiting the delayed December U.S. retail sales data, scheduled to be released at 8:30 a.m. ET today. Economists…

(Image credit: Getty Images)Prison is a place like no other. It is its own world and has rules that apply there and nowhere else. Knowing this reality was what my young reader needed to understand three years ago.”Mr. Beaver,” wrote “Molly,” “my son ‘Ray’ just turned 18. He has been in and out of juvenile detention for years, primarily because he can’t say no and hangs around with boys who are up to no good. But he has a very high IQ and has been reading your column for years.”Now that he is an adult, if he continues on the…