Author: Money Mechanics

It eventually happens to all savers: You’ll receive that dreaded email or letter from your bank informing you that the annual percentage yield (APY) on your savings account dropped.In fact, many savers have been receiving these letters recently. The reason? The Federal Reserve cut rates at each of its last three meetings due to declining job growth. And when that happens, banks follow suit by lowering APYs on all savings accounts.Therefore, if this has happened to you or you’re concerned it could happen soon, I’ll cover the next steps you should consider. From just $107.88 $24.99 for Kiplinger Personal Finance…

(Image credit: Getty Images)In an era when nearly everything can be done online, it’s easy to assume that financial guidance is no different.With a few clicks, retirees can schedule virtual meetings, move assets between accounts, even open investment portfolios without leaving home.Convenience is valuable, but for many retirees, there’s still something irreplaceable about sitting across the table from someone who knows them, their community and their goals. 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…

These Stocks Could Gain From Venezuela’s Upheaval 7 minutes ago The U.S. is planning big changes for Venezuela’s oil industry after ousting the country’s president. Shares of a handful of U.S. companies stand to benefit from the upheaval. Energy Secretary Chris Wright on Wednesday said that the U.S. will control Venezuelan oil sales “indefinitely,” funneling proceeds to American banks and rolling back sanctions that have choked the country’s crude exports for years. Refiners Valero Energy Corp. (VLO) and Phillips 66 (PSX) rose on the news. Chevron (CVX) is the only U.S. oil major still operating in Venezuela. That head start…

(Image credit: Getty Images)Every January, the financial news landscape is flooded with two things: Articles about canceling unused gym memberships and confident predictions about where the S&P 500 will finish the year.While getting fit is a noble goal, betting your financial future on market forecasts is a fool’s errand. If the past few years have taught us anything, it is that the economy is unpredictable, geopolitical events are sudden, and markets will do what they do regardless of what the pundits say.As 2026 gets underway, I am advising my clients to ignore the crystal ball and focus on the mirror.…

Cretan Investment Group (CIG), the investment division of MK Hotel Collection, has finalised the acquisition of the property housing the Hilton Garden Inn Athens Syggrou Avenue in Greece. The move aligns with CIG’s ongoing strategy to invest in established hospitality assets located in significant urban areas, reinforcing its commitment to the Greek market, particularly Athens. The newly acquired property is located on Syngrou Avenue, a key business and development corridor in Athens. The area consistently demonstrates high demand and holds strategic value for the city’s hospitality industry. CIG’s acquisition forms part of a broader investment plan aimed at enhancing both…

I would like to thank the California Bankers Association for the invitation to join you today.1 Throughout my now seven years as a member of the Federal Reserve Board, I have found that direct outreach with bankers has been the most effective way to learn about and understand your perspectives on improving the regulatory and supervisory frameworks, and on local banking and economic conditions. It has now been seven months since I was appointed by President Trump as Vice Chair for Supervision. It is an incredible honor and a profound responsibility to serve in this role. Since I first joined…

A “Join Our Team” flyer at the Appalachian State University internship and job fair in Boone, North Carolina, US, on Wednesday, Oct. 1, 2025. Allison Joyce | Bloomberg | Getty ImagesPrivate sector job creation turned positive in December though at a bit softer pace than expected, payrolls processing firm ADP reported Wednesday.Companies added 41,000 hires for the month, a reversal from the loss of 29,000 in November, providing a positive sign for a labor market that otherwise struggled as 2025 came to a close. Private company payrolls had declined in three of the four months before the December release.The final…

Key Takeaways These six towns show that retirees can enjoy comfort and quality of life without breaking the bank.In fact, in four of the six counties featured, median home values are under $130,000—offering significant value for those seeking a peaceful retirement.From Gregory’s hunting traditions and Tryon’s equestrian scene to Parker’s lively senior center, each town offers distinct avenues for retirees to stay engaged, active, and connected to the community. Research shows that many Americans dream of spending their golden years in a small town, favoring the tranquility of a slower pace over the relentless energy of big cities or the…

(Oil Price) – U.S. forces have seized a Russia-flagged tanker in the North Atlantic after a dramatic pursuit that began near Venezuelan waters, marking a sharp escalation in Washington’s enforcement of its global blockade on sanctioned Venezuelan oil. U.S. European Command confirmed the capture of the M/V Bella 1, saying the vessel was seized for sanctions violations “pursuant to a warrant issued by a U.S. federal court” after being tracked by a U.S. Coast Guard cutter. The operation concludes a weeks-long chase that began in late December when the tanker abruptly turned away from Venezuela and headed into the open Atlantic to evade a…

Key Takeaways Doctors face numerous financial challenges, including high student debt loads, delayed career starts, low starting salaries, and extended workweeks. Physicians are a good fit for the ‘Financial Independence, Retire Early’ (FIRE) model, which works on the principle of saving aggressively to achieve financial freedom as early as possible, a solid option for anyone with a proclivity for saving and high earning potential. Achieving financial freedom and retiring on your own terms requires a strategic plan. This is especially true for many doctors, who often accumulate a substantial amount of student loan debt and don’t start earning high salaries…