Author: Money Mechanics

Welcome to Kiplinger’s My First $1 Million series, in which we hear from people who have made $1 million. They’re sharing how they did it and what they’re doing with it. This time, we get some amazing details from a single 55-year-old risk management consultant in Marlborough, Mass. He’s originally from Butler County, Ohio. See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey. (See all of the profiles here.) From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter,…

Question: My wife and I retired last year and moved to a 55+ community. She loves being social, but I miss our neighbors and feel it was a bad choice. What can I do to safeguard our finances and manage my regret?Answer: There’s a reason so many older Americans are drawn to 55+ communities. These communities commonly offer amenities that range from on-site swimming pools to tennis courts to dining facilities. And just as importantly, they give residents a chance to socialize with people of a similar age.By the time you’re ready to move to a 55+ community, you may…

For many homeowners, the idea that an insurance company might quietly fly a drone, or pull satellite images, over their house feels unsettling. Not because they’re hiding something, but because home insurance has traditionally involved human judgment: an adjuster on the ground, a phone call, a chance to explain.Now, more insurers are using aerial imagery to evaluate homes for underwriting, renewals and claims decisions. In some cases, policyholders say those images led directly to higher premiums or outright nonrenewal without warning.That push and pull between speed and privacy feels especially real in California right now, where the insurance market is…

(Image credit: Getty Images)There’s more to the Mairs & Power Growth Fund (MPGFX) than its name implies. The managers favor firms with above-average earnings growth. But a durable, competitive position in their market — “a number-one or number-two position and gaining share,” says comanager Andrew Adams — and a reasonable stock price matter even more.That valuation focus has been a handicap recently, as pricey stocks in companies with little in the way of profits have led the market. Over the past 12 months, Mairs & Power Growth, a member of the Kiplinger 25, our favorite no-load mutual funds, has returned…

(Image credit: Getty Images)Since the April 2025 market low, small-capitalization stocks have kept pace with, and at times even outpaced, shares in large companies. Many strategists expect the rally in small-cap stocks to continue.After a two-year profit downturn, earnings growth at small firms is turning up, says Francis Gannon, co-chief investment officer at small-cap specialist Royce Investment Partners. Lower interest rates, deregulation, and strong activity in mergers and acquisitions and in initial public offerings (IPOs) have been a boon.Even the One Big Beautiful Bill Act, President Donald Trump’s 2025 tax bill, could help small-cap earnings this year, thanks to certain…

To help you understand the trends surrounding AI and other new technologies and what we expect to happen in the future, our highly experienced Kiplinger Letter team will keep you abreast of the latest developments and forecasts. (Get a free issue of The Kiplinger Letter or subscribe.) You’ll get all the latest news first by subscribing, but we will publish many (but not all) of the forecasts a few days afterward online. Here’s the latest…For years, humanoid robot demonstrations have dazzled, featuring robots that can run, dance and even flip. Now, leading companies want to move from viral online clips…

KEY TAKEAWAYS About 6.4 million federal student loan borrowers are ages 50 to 61, with the average student loan debt in this group at $48,203.That is the highest average balance out of all other age groups. Generation X is caught in a financial squeeze. Borrowers aged 50 to 61 carry an average student loan balance of $48,203—more than any other age group—even as many Gen Xers also support aging parents and help their own children pay for college. About 6.4 million federal borrowers fall into this age range, holding a combined $308.5 billion in outstanding student loan debt, according to…

(Image credit: Getty Images)For decades, long-term savers and retirees have relied on common rules of thumb to help motivate and guide them on the road to and through retirement. The precepts say you should aim to save 15% of your annual income, for instance, or subtract your age from 100 to determine how much of those savings to invest in stocks. Perhaps the best-known principle, the 4% rule, suggests that once you retire, you limit your initial portfolio withdrawal to 4%, then adjust the amount annually for inflation, to ensure your savings will last your lifetime.But can 20th-century guidelines —…

Key Takeaways Wyoming has no state income tax, and Cheyenne has no local income tax. Property tax rates are low compared to nearby cities.Housing costs in Cheyenne are lower than the national averages.Local and state parks appeal to retirees who like an active, outdoor lifestyle.High walkability and public transportation options can reduce the need for retirees to drive. Cheyenne, the capital city of Wyoming, is among Investopedia’s best places to retire for 2026. It offers an attractive blend of Western heritage with everyday, modern practicality. With a population of just over 65,000, it is an appealing destination for retirees who…

Key Takeaways On average, American workers say that they would need an additional $70,000 of household income each year to feel financially stable, according to a report by insurance company Aflac.Households earning under $50,000 per year would like an additional $48,834, on average, in annual income, while those earning over $100,000 would like an additional $86,518.Many workers report high levels of anxiety about health care costs, and almost half (44%) couldn’t cover a $1,000 health care expense out of pocket. Many Americans don’t feel financially secure. In some ways, this isn’t surprising: a rising cost of living and anxiety about…