Author: Money Mechanics

Key Takeaways Baytown’s median home price of around $264,000 combined with Texas’s lack of state income tax can stretch retirement savings further than pricier Gulf Coast alternatives.The city is just 25 miles from Houston’s Texas Medical Center, the world’s largest medical complex, giving retirees access to advanced specialty care without paying big-city housing prices.Year-round mild weather supports an outdoor lifestyle centered on fishing, kayaking, and birding along Galveston Bay—but long, humid summers and hurricane season require realistic expectations and flood insurance planning. As the cost of living continues to rise in many long-established retirement hot spots, more people are quietly…

Key Takeaways JPMorgan Chase CEO Jamie Dimon in a statement Tuesday called the U.S. economy “resilient” but continued to warn of risk factors—including some he called underappreciated by markets.A number of major U.S. banks are set to report their latest quarterly financial results this week. The U.S. economy is “resilient,” JPMorgan Chase CEO Jamie Dimon said Tuesday, but investors should remain wary of a range of possible “hazards” ahead. Dimon’s comments came as the big U.S. bank turned in quarterly financial results that included higher four-quarter net revenue and a year-over-year drop in net income. Big-bank numbers mark the unofficial…

(Image credit: Getty Images)The latest Consumer Price Index (CPI) report showed inflation is holding steady, though key areas such as shelter, food and energy saw prices rise. The data will likely keep the Federal Reserve sidelined at its January meeting, with the central bank all but guaranteed to keep interest rates unchanged.According to the Bureau of Labor Statistics, headline CPI was up 0.3% from November to December, faster than the 0.2% rise seen the month prior and arriving in line with economists’ expectations.The CPI was 2.7% higher year over year, matching November’s increase and economists’ estimates. From just $107.88 $24.99…

(Image credit: Getty Images)Investors have long appreciated the business model that is asset management, but historically, the only way they could gain exposure was through publicly traded asset managers.The challenge is that those stocks tend to be very volatile, exhibit high correlations to the rest of a typical investor’s portfolio and usually do not provide much in the way of cash flow to their stockholders.Yet the amount of assets invested in the private markets has grown by more than four times over the past 14 years, and most expect another doubling in the next six years. If that is true,…

(Image credit: Getty Images)Today’s story is an example of the old saying, “When the cat’s away, the mice will play.” In litigation, you are the cat. Your attorney’s large law firm is the mouse that bills you thousands of dollars in unjustifiable and grossly inflated — read: fraudulently inflated — attorney fees for “billable hours” your attorney did not work, but their firm made doing this the only way to remain employed.In the mid-1900s, in an effort to increase incomes, the legal profession went from fee schedules in which creating a will, defending a DUI or handling a divorce would…

(Image credit: Getty Images)If you ask 10 people what it means to “retire well,” most will begin by talking about money. They’ll mention savings, investments, portfolios or the confidence of living without a paycheck.Financial security tends to dominate the conversation because it’s tangible, measurable and often seen as the gatekeeper to freedom.Yet, beneath that conversation lies another, quieter one that rarely gets equal attention — the discussion about what wealth really means once the daily rush of earning has ended. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus…

Key Takeaways Financial planners say retirees are more likely to outlive their savings due to poor planning and spending habits.Experts recommend keeping five years of income needs in safer assets and tracking expenses closely to avoid premature portfolio depletion. Many Americans are worried that they will live longer than their savings. “Running out of money is a real risk, and for most retirees, it doesn’t happen because of bad investments,” said Melissa Caro, certified financial planner (CFP) and founder of My Retirement Network. “It happens because of bad timing, inflexible spending, or poor planning around income streams.” Whether you’re already…

Over the past several decades, a quiet shift has emerged that has reshaped the marital landscape — gray divorce — the ending of long-term marriages among adults aged 50 and older.Particularly noticeable among baby boomers, the phenomenon of later-life divorce may be due in part to greater cultural acceptance of divorce, longer life expectancy and greater emphasis on personal fulfillment later in life.Yet, gray divorce brings unique challenges that younger couples rarely encounter, and can disrupt emotional, financial, and personal goals built over years of closely connected lives. Dividing assets, including homes, personal property, and retirement accounts, can disrupt years…

Key Takeaways You’ll receive 132% of your monthly benefit amount if you wait until age 70 to begin collecting Social Security. That may be particularly important for women, as they typically live longer than men.If you start taking benefits at age 70 versus age 67, your monthly income will be larger, but your total payout through age 81 will be less.You may be able to withdraw your claim for benefits within the first 12 months after you begin collecting if you change your mind and decide to wait. Women generally have a longer life expectancy than men. According to the…

Stock futures slipped Tuesday, a day after the S&P 500 and Dow Jones Industrial Average set fresh records, as investors awaited a consumer inflation reading and bank earnings season kicked off.  Nasdaq 100, S&P 500, and Dow Jones Industrial Average futures pointed 0.2%, 0.1%, and 0.1% lower, respectively. Yesterday, investors shook off news of a Justice Department probe into Federal Reserve Chair Jerome Powell, with the S&P 500 and Dow hitting fresh intraday and closing highs, and the tech-heavy Nasdaq also ending in the green. A report on inflation at 8:30 a.m. ET Tuesday from the Bureau of Labor Statistics is likely…