Author: Money Mechanics

To help you understand what’s going on in the economy, business and politics 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…Congress is set for a busy and raucous 2026, despite the looming distraction of the November midterms, which typically slow down the legislative process. The…

Life isn’t easy just because you make money; you have to pay taxes on that hard-earned cash. And sometimes you’re penalized because of it. Known in some circles as the “rich-man tax” or chalked up as “first-world problems,” these are the hidden costs that high earners face.You can find them everywhere, from Medicare surcharges to the taxes your children face from an inheritance. Left unchecked, these costs can be devastating for you and your beneficiaries.The good news is that many of these penalties are avoidable, and you don’t have to skirt the law to do it. Read on to learn…

Home renovations can be stressful, especially when communication is unclear or plans change mid-project. Hiring the right contractor can make the difference between a smooth renovation and a costly, frustrating experience.Because contractors oversee everything from scheduling and budgets to permits and building codes, it’s essential to choose someone who is skilled, knowledgeable and reputable.Asking the right questions before you hire can help you compare candidates, set clear expectations and protect both your home and your budget, so you can feel more confident as the project begins. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor.…

Key Takeaways Affordability problems weighed down the housing market in 2025, though there were signs of improvement.Mortgage rates declined somewhat and more listings hit the market, helping to ease some of high expenses of buying a home.Experts predict that mortgage rates will continue to fall in 2026, although housing affordability issues are expected to persist as long as there is an insufficient supply of housing. Those hoping the housing market would become more affordable in 2025 didn’t see much relief, as the challenges of high costs continued to stretch from one corner of the country to the other. Housing experts…

Find out how much you could earn with today’s savings rates. Interest rates on savings accounts have been falling, so it’s important to be sure you’re getting the best rate possible when shopping around for a savings account. The following is a breakdown of savings interest rates today and where to find the best offers. The national average savings account rate stands at 0.39%, according to the FDIC. This might not seem like much, but consider that three years ago, it was just 0.06%. Although the national average savings interest rate is fairly low compared to other investments, the best…

Before Asian markets opened today, Taiwan’s major chipmaker, , reported its results for the final quarter of 2025. The numbers were much stronger than what the market expected across key measures. The company continues to benefit from strong demand linked to artificial intelligence, where its chips are widely used. Demand could also improve further as the US and Taiwan move closer to a trade agreement. Under this plan, the company has agreed to expand its operations in Arizona in return for lower tariffs. TSMC also said it will raise capital spending this year to more than $50 billion. Its share…

As the Justice Department continues its investigation into the Federal Reserve, the next front in the central bank’s quest to maintain political independence shifts to the Supreme Court. On Jan. 21, the high court will hear arguments related to President Donald Trump’s efforts to fire Federal Reserve Governor Lisa Cook.Administration officials last year accused Cook of committing mortgage fraud by misrepresenting which property was her primary residence on mortgage applications. Trump tried to remove Cook from her position but thus far has been prevented by courts. Should the White House win the case, it could set an important precedent for…

Maria Diaz/ZDNETFollow ZDNET: Add us as a preferred source on Google.Remember The Clapper? The plug-in staple may have made for a catchy jingle in the 1980s, but it could also be considered as a primitive ancestor of today’s smart plug — that is, if you can say anything from a few decades ago is primitive. Smart plugs offer greater convenience than The Clapper ever did, letting you control your devices from an app on your phone, your voice, or a schedule.Also: Unplugging these 7 common household devices greatly reduced my electricity billThere are many ways to use smart plugs to automate your…

It’s a short trading week due to the Martin Luther King Jr. holiday, but there is still plenty happening. Stock and bond markets are closed for the holiday on Monday, the day the World Economic Forum begins in Davos, Switzerland. President Donald Trump is expected to speak on Wednesday in Davos, where he is expected to address housing market reforms and other economic topics.The delayed Personal Consumption Expenditures price index for October and November is scheduled for release, as is the final reading for third-quarter Gross Domestic Product. Netflix and Intel lead the tech firms on this week’s earnings calendar. United…

(BOE Report) – Venezuela’s interim President Delcy Rodriguez said on Thursday that she was submitting a proposal to reform the country’s hydrocarbon law, as investors in the U.S. push for easier access to the South American country’s oil industry. Rodriguez said the reforms would “allow these investment flows to be incorporated into new fields, fields where no investment has ever been made and into fields where there is no infrastructure.” Rodriguez said funds from oil would go to workers and public services. The U.S. says around $500 million has already been generated from oil sales under a deal with Caracas…