Author: Money Mechanics

(Image credit: Getty Images)Many people choose to make philanthropy a priority in retirement, using their resources to bless others and fund a charitable legacy.Years of hard work and saving provide them with an opportunity to give back in a meaningful way.But here’s the challenge: Without a proactive tax plan, retirees often pay far more to the IRS than they have to, which can limit the amount that reaches the causes they care about most. 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…

(Image credit: Getty Images)Every December, people do the same rituals: They check their credit card rewards, swear they’re finally going to tidy up the garage and promise they’ll eat fewer cookies in January (not to mention resolve to go to the gym and get those rock-hard abs). Oh, and lose weight — maybe that goes without saying.But there’s one year-end task that matters a lot more than resolutions you probably won’t keep for long, and it should take less time than you think: review your insurance.If that sounds boring, consider this: Insurance is the thing you buy hoping you’ll never…

(Image credit: Getty Images)It’s not too late to do some clever tax planning for 2025 that will save money on your taxes — but if you wait until January, it will be too late.When it comes to taxes, the best opportunities come from proactive planning throughout the year, rather than waiting until it’s over.For example, most families who have been saving and investing for some time will generate significant capital gains each year. Long-term capital gains rates can be as high as 20%, while short-term rates can be as high as 37%, depending on your income bracket. From just $107.88…

Key Takeaways Holiday sellers face less competition, allowing their homes to stand out in a quieter market where serious buyers are still actively searching.Thoughtful holiday décor and strong online presentation can give your home an edge, especially as more buyers browse listings on their phones during holiday downtime.Year-end timing can streamline the process, with more flexible closing options and lighter workloads for lenders, appraisers, and title companies.Online home shopping never slows down, meaning your listing can gain significant attention even if in-person showings dip slightly during the holidays. Most homeowners assume spring is the ideal time to list a home.…

Each week, in our Ask the Editor series, Joy Taylor, The Kiplinger Tax Letter Editor, answers questions on topics submitted by readers. This week she’s looking at six questions on capital gains tax rates and end-of-year tax planning. (Get a free issue of The Kiplinger Tax Letter or subscribe.)1. Capital gains and the OBBBQuestion: Did the “One Big Beautiful Bill” (OBBB) make any changes to the existing federal income tax rates on capital gains? Joy Taylor: No. Although the OBBB, which was enacted on July 4, 2025, has over 100 tax sections, there are no big changes to the taxation…

Key Takeaways Though you can start claiming Social Security retirement benefits at age 62, waiting longer will increase the amount of your monthly benefit.If you wait until age 70, you’ll receive the maximum possible monthly benefit.A man who earns $75,000 per year and lives until age 76 will receive about $600 more per month if he claims benefits at 70 instead of 67, though his total lifetime benefits will be lower. According to the 2025 U.S. Retirement Survey from Schroders, about half (53%) of non-retired Americans are worried about outliving their money. Despite this, 44% of non-retirees plan to file…

Choosing the right Medicare path is one of the most critical financial decisions you will make regarding your health care in retirement. The debate boils down to two fundamentally different approaches: original Medicare (Parts A and B, plus Medigap insurance), which prioritizes flexibility and eliminating out-of-pocket costs, versus Medicare Advantage (Part C), which bundles benefits and minimizes monthly premiums.Understanding which plan aligns with your wallet and risk tolerance is essential. Take this quick quiz to discover your “Medicare Personality Type” and learn whether you are better suited for the high-premium, low-copay freedom of a Traditionalist, or the low-premium, high-cap security…

Majority-owned U.S. affiliates of foreign multinational enterprises employed 8.66 million workers in the United States in 2023, a 1.9 percent increase from 8.5 million workers in 2022, according to statistics on U.S. affiliate operations and finances released today by the U.S. Bureau of Economic Analysis.Majority-owned U.S. affiliates accounted for 6.2 percent of total private-industry employment in the United States in 2023, down from 6.3 percent in 2022.Current-dollar value added of majority-owned U.S. affiliates, a measure of their direct contribution to U.S. gross domestic product, increased 6.3 percent to $1.47 trillion in 2023.Expenditures for property, plant, and equipment by majority-owned U.S.…

India’s Bharat Petroleum Corp. and India Oil Corp. have bought Russian crude from non-sanctioned companies, with Bharat Petroleum ordering a cargo of 2 million barrels of Urals for January delivery, from companies other than Rosneft and Lukoil, Reuters has reported, citing unnamed trader sources. The price tag for the cargo featured a discount of $6-$7 to Brent crude, the sources told Reuters. This is actually slimmer than the futures market difference between Urals and . Brent is trading at a bit over $63 per barrel, while the flagship Russian blend is changing hands for over $54 per barrel. Rosneft and…

Speaking during a panel discussion at the 2025 Florida Chamber Annual Insurance Summit yesterday, Chris Dittman of Aon’s Reinsurance Solutions and John Seo of Fermat Capital Management highlighted that meaningful softening in catastrophe reinsurance rates and the cost of risk capital is expected to flow to the benefit of Floridians in time.Dittman said that the 1/1 January 2026 reinsurance renewals are already looking a little late, based on what firm orders are out in the market. While he also highlighted that rate declines in the double digits are being seen for Nationwide US catastrophe reinsurance programs. Seo pointed out that…