Author: Money Mechanics

(Image credit: Getty Images)Illinois remains one of the few states that still imposes its own estate tax, and its rules are very different from the federal system’s.The federal estate tax exempts $15 million per person, or $30 million per married couple. Illinois uses a much lower $4 million estate tax threshold per married couple.The word “threshold” matters: It’s not a true exemption. If an estate is valued at $4 million or less, there is no Illinois estate tax. But if the value exceeds $4 million by even a single dollar, Illinois will tax the entire estate, not just the amount…

(Image credit: Getty Images)Not long ago, I was working with a family who had an eye on giving back to the community and the world. They wondered whether they were doing so in the most efficient way possible and whether there were better options.The family matriarch had set up a charitable remainder trust that designated two specific organizations to receive the money upon her death.The family members questioned whether this was the best approach. What if one or both of the organizations no longer existed when she passed away? What if one of the organizations changed its mission so that…

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter editor, answers questions on topics submitted by readers. This week she’s looking at four questions on inherited IRAs, Roth conversions and more. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. Inherited IRAQuestion: My son inherited his younger brother’s Roth IRA in 2009 when he passed away. Did he need to clean out that IRA within 10 years? Joy Taylor: No, your son did not need to clean out the inherited IRA within 10 years. The 10-year rule applies only to certain IRAs inherited…

(Image credit: Getty Images)If you’re in or nearing retirement, you’re probably familiar with Medicare, the U.S. government’s health care program for those age 65 and older.More than 66 million Americans get their health coverage from Medicare.It’s one of the most important pieces of retirement planning, yet also one of the most confusing. For many retirees, selecting Medicare coverage is a decision that can significantly impact their income, taxes and overall financial security. 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…

(Image credit: Getty Images)Question: I’m 62, married, and have spent my entire career diligently saving. Between maxing out my 401(k) and consistently funding my Health Savings Account (HSA), I’m confident we’ve hit our “number.” My kids are independent, and I’m ready to reclaim my time.However, my wife is hesitant; she wants me to wait until 65 for the health care safety net of Medicare. She’s terrified that an unexpected medical crisis or the cost of private insurance will drain our life savings.Since we are still healthy, I want to retire now to travel and enjoy ourselves, but my wife feels…

Those pre-approved credit card offers in your mailbox might not seem like a threat. But they are often unwanted and they contain your name and address—and often a ready-to-activate offer that can make your mail tempting to steal for identity theft. Preapprovals may also signal to burglars that you are creditworthy—and thus a potentially attractive target for theft beyond the mailbox. Even if that risk feels remote, the more solicitations that pile up, the more opportunities there are for someone else to intercept them, submit an application in your name, or use the personal details as one more piece in…

(Image credit: Getty Images)You’ve probably heard of no-fault states in the context of car insurance. But if you don’t live in one of the 13 states known to have that system, you probably think those rules don’t apply to you. Depending on which state you live in, you could be wrong about that.The distinction between a no-fault state and an at-fault state is far from black and white. That’s especially true in the four states below that still have some tricky no-fault car insurance laws you need to know about.If you don’t brush up on the rules, you could end…

Key Takeaways Roles in health care surged in September. You don’t need to be a doctor to earn a good living in health care, as degrees in biomedical engineering, data science, and health informatics can all lead to six-figure roles in health tech. Look for schools that partner with hospitals, device makers, or major health IT vendors like Epic Systems or Medtronic. Health care remains one of the few bright spots in the economy, adding an average of 34,000 jobs per month in 2025 as retail, transportation, manufacturing, and other sectors shed jobs. In health care, technical skills can directly…

Key Takeaways Start investing as soon as you’re earning.Patience is key: Buffett’s favorite holding period is “forever,” a reminder to buy quality companies and think long-term through market ups and downs.Be picky: Buffett has said investors should act as if they have only a limited number of lifetime investments.Invest within your “circle of competence” and focus on businesses you truly understand. Warren Buffett, the “Oracle of Omaha,” made his first stock purchase when he was just 11 years old. Today, his net worth stands at over $140 billion. While most young investors won’t match those gains, Buffett’s core advice remains…

Comex are approaching a technical inflection point as price action gravitates toward the 20-day simple moving average, an area that has historically attracted renewed buying interest during consolidation phases. The upward slope of the 50-day simple moving average continues to reinforce underlying trend stability and provides a secondary layer of downside support, even as near-term bullish momentum shows signs of moderation. Market positioning, therefore, reflects a transition from acceleration to balance rather than a structural reversal, with the $4,800 per ounce threshold remaining the decisive level that separates continuation from deeper correction. Spot gold trading 0.7% higher at $4,956.89 per…