Author: Money Mechanics

Key Takeaways Trump Accounts provide $1,000 in free seed money for babies born between 2025 and 2028.But these accounts aren’t just for newborns. Families can contribute up to $5,000 annually for kids up to age 18.Because Trump Accounts convert to traditional IRAs at 18, many kids could then shift the money to a Roth IRA with little or no tax due. How Trump Accounts Work The Trump Accounts created under the One Big Beautiful Bill Act (OBBBA) are government-funded investment accounts designed to help children build wealth from birth. Babies born between Jan. 1, 2025, and Dec. 31, 2028, will…

(Image credit: Getty Images)An extended rebound in tech stocks sent the S&P 500 and the Nasdaq Composite notably higher to start the week. Price action for the Dow Jones Industrial Average was more muted, though the blue-chip index held its footing atop the psychologically significant 50,000 level.At the close, the S&P 500 was up 0.5% at 6,964 and the Nasdaq gained 0.9% to 23,238. And while the Dow ticked up just 0.04% to 50,135, it was its second straight close above 50k and a new all-time high.The Dow above 50,000 has many investors “wondering where it will go next,” says…

Key Takeaways Millionaires under 30 are extremely rare. Only about 1.4% of Americans ages 18–29 have a $1 million net worth.Most young millionaires don’t have $1 million in cash or diversified assets.Much of that wealth is tied up in inheritance, startup equity, or other assets that are hard to sell. Scroll through social media long enough, and you might think everyone’s a millionaire by 30. Most aren’t. Not even close. Data from the Federal Reserve reveals that reaching millionaire status that young is rare, even as social media feeds can suggest otherwise. If you’re comparing your financial milestones to those…

Key Takeaways Leading buy now, pay later provider Affirm has launched a service that splits rent into installments.While Affirm doesn’t charge interest, there is a monthly fee to facilitate the short-term loan.Other firms are also offering rent-splitting services, but a new report shows that in many cases, they are more expensive than credit card fees. Need some flexibility with your monthly rent payment? There are now options to spread your rent payments out over the month. But using a rent-now, pay-later service comes with some costs, which can balloon if renters have trouble repaying the loan. Affirm, one of the…

CyberCube, a specialist modelling firm for cyber risks and the third-party modelling agent for many of the cyber catastrophe bonds that have been issued so far, has announced a new CEO, with its Chief Growth Officer Chris Methven taking on the top role, as Pascal Millaire becomes a Senior Adviser to the company.The cyber risk modelling specialist said the change at the top comes as it sets out its stall for future development, following on the heels of a significant more than $180 million investment in the company led by Spectrum Equity last year. Methven joined CyberCube in April 2020…

Pending home sales are declining, and the homes that are selling are taking more than two months to find a buyer. But new listings are improving, and Redfin agents are hopeful that falling costs will attract more buyers  in time for the spring selling season.  The 2026 housing market is off to a sluggish start, but there are signs the Great Housing Reset predicted by Redfin economists could be on the horizon. Housing costs are declining, new listings are rising, and agents are cautiously optimistic.  Homes Are Selling at Their Slowest Pace in 6 Years, and Pending Sales Are Down …

Key Takeaways The economy likely added 55,000 jobs in January, up from 50,000 in December, a report is expected to show Wednesday.The unemployment rate is expected to remain at 4.4%, a relatively low level by historical standards.Tariffs, the immigration crackdown, and AI have thrown sand in the gears of the U.S. employment machine in recent months. You could get a job anywhere you wanted in January, as long as you wanted to work in health care.That’s the upshot of what forecasters expect a report Wednesday from the Bureau of Labor Statistics to show. U.S. employers likely added 55,000 jobs that…

(World Oil) – Canadian oil producers riding a boom from the expanded Trans Mountain pipeline are now grappling with increasing price discounts for near-term supplies, a sign that a supply glut is taking hold. Canada’s flagship oil grade’s discount has grown to more than $15 a barrel in recent days from less than $13 a barrel two months ago. The last time it traded at this level was when the Trump administration briefly threatened tariffs on Canadian oil in January of last year. More revealing, the discount for crude available one month in the future is growing increasingly bigger than…

Key Takeaways Kroger named John Foran CEO, highlighting his prior jobs as CEO of Air New Zealand and Walmart U.S. as he prepares to take over the grocery cain. Foran may be inclined to focus on the basics first, but he will need to look at Kroger’s e-commerce strategy, UBS said. Kroger is locked in a battle with Walmart in the grocery business. Now it’s bringing in a CEO trained at the retail giant to help it compete. Kroger Co. (KR) on Monday said it named Greg Foran its CEO after an “extensive” search. The grocer said Foran helped Air…

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