Author: Money Mechanics

With 2025 marking the fifth consecutive year in which global catastrophe claims have exceeded $100 billion, analysts at J.P. Morgan emphasised that the impact on reinsurers has been less damaging, in the main because higher cedant retentions continue to shift a greater share of losses back to primary carriers.As a result, reinsurers have remained within or below their cat loss budgets, indicating that profitability is increasingly supported by structural changes as well as price. Swiss Re Institute recently reported that 2025 will see over $100 billion of natural catastrophe losses covered by sources of insurance and reinsurance capital, with the…

Its growth has been driven by well-known industry veterans. TLS’s strategy is rooted in the prior experience of its leadership team — including CEO Phil Shoemaker, president Jason Lee and chief revenue officer William Pendleton — at companies such as Caliber Home Loans, which was sold to the parent of Newrez for $1.675 billion in 2021. “Caliber made us fall in love with mortgage banking. It feels like when you create a great culture of people that are aligned, have a clear direction and guidance from the leadership team, you can do special things,” Pendleton said in an interview with…

Amazon Fire TV Omni QLED Series ZDNET’s key takeaways The Fire TV Omni QLED Series is one of Amazon’s latest smart televisions, starting at $429 for the 50-inch.I tested the 65-inch model, which costs $850 and features a gorgeous image, hands-free Alexa+, and Amazon’s Ambient Experience.I wish it had a remote finder. Follow ZDNET: Add us as a preferred source on Google.Amazon released multiple new devices at the end of this year, including a Fire TV Omni QLED Series, which I’ve been testing for over a month now. I’ve used the 65-inch model of this smart TV as our family’s main television,…

Key Takeaways To measure net worth, you subtract the total of how much you owe from the total of how much you own.As of 2022, the average net worth in the United States was $1,063,700, an increase of 23% from just three years earlier, according to the Federal Reserve. Checking net worth once every quarter is a good way of monitoring your finances. Your net worth can say a lot about your financial life. It is easy to calculate and is a quick way to compare yourself to others at your income level. Just what is net worth? “Net worth…

The U.S. economy grew much faster than forecasters had expected in the third quarter, thanks to a drop in imports and a surge in consumer spending.The inflation-adjusted Gross Domestic Product grew at an annual rate of 4.3% in the third quarter, up from 3.8% growth in the second, the Bureau of Economic Analysis said Tuesday. That blew past the 3.2% growth forecasters had expected, and was well above the 2.6% average annual growth rate over the previous four years.The surge in economic growth partly reflected a decrease in imports, which are subtracted from the GDP, and have declined as a…

Stock futures edged lower ahead of delayed third-quarter GDP figures Tuesday, with major equities indexes looking for a fourth consecutive session of gains. Nasdaq 100 futures and those affiliated with the S&P 500 and Dow Jones Industrial Average all were about 0.1% lower. Yesterday, the benchmark S&P 500, tech-heavy Nasdaq, and blue-chip Dow Jones Industrial Average finished up a respective 0.6%, 0.5%, and 0.5%, with the S&P 500 coming up 0.2% shy of its all-time closing high. It was the indexes’ third straight session of gains, with tech shares continuing their advance after a strong end to last week.  Shares of Micron Technology (MU),…

Key Takeaways Households ages 45–54 earn a median income of $91,880—the highest of any group—reflecting peak career years, greater experience, and often two full-time earners.Income levels vary widely across groups, with homeowners and college graduates earning substantially more than renters and those without a college degree.Income is just one piece of the puzzle—tracking your net worth offers a fuller picture of long-term financial health and overall stability. Household income—and wealth—shift significantly with age. Data from the Federal Reserve’s Survey of Consumer Finances show that families typically see earnings and assets rise through midlife—reaching a peak at ages 45–54. Understanding how…

(Image credit: Getty Images)Financial advisers are feeling a shift in real time. Clients with growing wealth have increasingly nuanced needs, AI is reshaping service expectations, and competition among credentialed advisers is intensifying.This article speaks directly to advisers who want to stay ahead of that curve. The question is no longer whether specialization is coming — it’s how advisers can deliver it and communicate it in a way that resonates with today’s clients.While many advisers still operate as generalists, the complexity of wealthy clients’ needs, combined with consumer demand and technological change, suggests the future of financial planning belongs to specialized…

(Image credit: Getty Images)In the rapidly evolving world of business, simplicity often gets overshadowed by the allure of the latest technology and artificial intelligence (AI) advancements.While these tools offer incredible potential, they can also introduce complexity that distracts from the core mission — providing exceptional service to your team and your clients.To truly scale your business, embracing simplicity is key. That is what will allow you to distinguish yourself in a market that becomes more automated. 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…

Key Takeaways In 2026, 19 states will raise their minimum wage on January 1, and three others will make an increase later in the year.Eight states already have a higher minimum wage and won’t raise pay in 2026, after reaching earlier targets or tying increases to inflation.Twenty states—half of them in the South—are still at the federal $7.25 minimum wage, which has not increased since 2009. States Raising the Minimum Wage in 2026 For workers in many states, 2026 will bring a higher minimum wage, though the timing isn’t the same everywhere. Most of the states making changes will boost…