Author: Money Mechanics

Key Takeaways Bank stocks fell Monday after President Donald Trump said over the weekend that credit card interest rates should be capped at 10% for at least a year.How a cap would be put in place and why for only a year remains unclear. A number of banking and financial stocks slumped Monday morning after President Donald Trump over the weekend suggested capping credit card interest rates. Trump posted on social media late Friday that Americans are being “ripped off” by interest rates of 20% to 30%, and said that effective Jan. 20 he would be calling for a one-year…

Key Takeaways With a health savings account (HSA) can be used as a long-term savings account.HSAs come with triple-tax benefits that can be used to increase retirement savings.After age 65, maximizing the tax benefits of HSAs can supersede the retirement savings benefits of both IRAs and 401(k)s with tax-free withdrawals for qualifying medical expenses.For 2025, you can contribute up to $8,550 for family coverage and up to $4,300 for self coverage. For 2026, those numbers are $8,750 and $4,400, respectively.If you’re 55 or older, you can contribute an additional $1,000 to an HSA. An account for medical expenses probably isn’t…

Key Takeaways The best U.S. city for Gen Z, based on its affordability, employment, and social scene, is Madison, Wisconsin.Other top cities include Minneapolis, Minnesota; Des Moines, Iowa; Omaha, Nebraska; and Nashville, Tennessee. The shaky job market is hitting Gen Z harder than other generations. As of December 2025, younger workers had much higher unemployment rates (4.1%-13.7%, depending on age) than those age 35 or older (3.4% or lower). However, when it comes to job prospects, not all cities are created equal. Employer services platform Checkr recently created a ranking of the best cities for Gen Z workers. What Makes…

Key Takeaways Morningstar’s new analysis suggests a 3.9% starting withdrawal rate gives retirees a high probability of not running out of money during a 30-year retirement.Delaying Social Security until age 70 can meaningfully boost lifetime retirement income, but it may require temporary spending cuts or bridge strategies. You’ve done the work of saving for retirement, but now that you’ve reached your golden years, do you have a plan for how you’ll spend down your nest egg? For future retirees, Morningstar suggests withdrawing 3.9% of your portfolio the first year and then adjusting for inflation every year after that, according to…

(Image credit: Getty Images)On the morning after the sale of your business, the wire hits your account. You open your phone.There it is — $5 million. For a few seconds, your shoulders drop. The stress, the deadlines, the payroll worries — all of it seems to fade into quiet. You think, “This is what I’ve worked for my entire life.” 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 FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with…

(Image credit: Getty Images)In today’s fast-moving investment environment, stability is more valuable than ever. Markets react sharply to interest rate changes, global events and sector-wide sentiment.While traditional diversification across stocks, bonds and real estate remains essential, recent years have underscored a challenge: These asset classes often move together.As a result, more investors are exploring assets outside the usual mix, such as investments that behave differently and offer income that isn’t tied to daily market swings. 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…

(Image credit: Getty Images)Most Americans are keeping their cash in the wrong place — and they are paying for it in lost interest.With more than $18 trillion in bank deposits right now and an average savings account rate of 0.4%, Americans are missing out on billions of dollars of interest they deserve.With the latest Federal Reserve rate cut, and the expectation of further cuts in 2026, now is the time to make sure you are getting the best rates on your bank money — and perhaps even locking in some of those rates if the timing is right for you.…

Key Takeaways Gen Z workers have an average 401(k) balance of $13,500, with a 7.2% employee contribution rate that climbs to 10.9% when employer matches are included. Gen Z started working with financial advisors at an average age of 23, earlier than any previous generation. Despite having the smallest balances, 63% of Gen Z workers say they’re confident they’ll be financially prepared for retirement—higher than any other generation. It’s perhaps a timeless pattern that older generations depict the young as reckless with money, less eager to work, and maybe even a worrisome sign of the future. Any such stereotypes need…

(Image credit: Getty Images)On April 2, 2025, President Donald Trump announced tariff rates roughly two times what analysts had expected and roughly 10 times the effective rate of 2%.The S&P 500 fell by more than 10% in the week following the announcement and almost 20% from peak to trough.Headline inflation remains well above the Fed target of 2%, so it is nearly impossible to find a group of people who aren’t complaining about grocery prices. Despite all of this, the S&P 500 finished 2025 up 16%. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor.…

Key Takeaways Longview’s monthly housing costs are less than half the national average ($1,028 versus $2,120 nationwide).The city boasts rich cultural and historical attractions, such as the Longview Museum of Fine Arts.Longview offers abundant outdoor and recreational activities with nearby lakes and parks.Gregg County, where Longview is located, is home to 10 hospitals and 330 health care establishments.  While some retirees envision settling along the coastline, others are looking for an alternative to crowded beaches. If you’d still like to enjoy a warm summer, mild winter, and sunny skies, it might be time to consider other up-and-coming retirement destinations along…