Author: Money Mechanics

Key Takeaways If you are on an income-driven repayment plan for student loans, your monthly payment is based on your income. When you get married and file taxes jointly, your income increases, which can increase your monthly student loan payment as well.Filing taxes separately can prevent your monthly payment from rising. However, if you and your spouse both have student loans to repay, you might not need to. If you have student loans to repay, you can apply for an income-driven repayment (IDR) plan. With this plan, your monthly student loan payments are calculated based on your income and family…

Key Takeaways The Rockies have a reputation for being high-priced, thanks to popular tourist destinations like Telluride, Aspen, and Jackson.Still, many off-the-beaten-path options exist in the region for those looking to retire in the mountains on a budget.Salida and Glenwood Springs in Colorado, Laramie in Wyoming, and Sandpoint in Idaho offer a combination of access to Rocky Mountain beauty and activities, as well as considerations like cost of living and healthcare, all at more affordable prices. The Rockies, comprising parts of Colorado, Wyoming, Montana, and Idaho, have a rugged appeal for many who appreciate crisp mountain air, stunning views, and…

Key Takeaways Inflation, measured by the consumer price index (CPI) that older Americans actually face, has often been higher than Social Security’s annual cost of living adjustment (COLA). This is creating a gap, which stems from the inflation measure the feds use, that erodes purchasing power. Those on Social Security will be getting bigger checks this January—2.8% bigger. But groceries, medicine, and housing might be rising faster for older adults, about 3.1%, according to the inflation measure favored by many experts. That mismatch is perhaps why only 22% of Americans 50+ told AARP the cost of living adjustment (COLA) would be…

Key Takeaways REAL ID enforcement began May 7, 2025, requiring travelers to bring a compliant ID or another TSA-approved document.TSA’s Confirm.ID program launches Feb. 1, 2026, giving travelers without an acceptable form of ID a $45 identity verification option.The fee is non-refundable and does not guarantee clearance through security.Bringing a REAL ID, passport, or other approved ID is the simplest way to avoid the fee. Forgetting your ID at home could soon cost you $45 at the airport. On Feb. 1, 2026, TSA is launching Confirm.ID, a new identity verification option for travelers who arrive at security without a REAL…

KEY TAKEAWAYS The Social Security Administration distributes millions of payments each month.When you will receive your payments typically depends on your birthday, and in some cases, when you began receiving benefits. The Social Security Administration distributes benefits to almost 74 million people each month. Here is when to expect yours in December. Payments are primarily distributed according to beneficiaries’ birth dates. However, for those who began receiving retirement, spousal, or survivor benefits before May 1997, they typically receive their payments on the 3rd of every month. Supplemental Security Income, a program that provides additional income for people with disabilities and…

KEY TAKEAWAYS The newly created Repayment Assistance Plan will be available in less than a year. For many student loan borrowers, monthly payments are expected to be more expensive than current plans.The average lower-income borrower will have to pay tens of thousands of dollars more over the life of their loan.For the average borrower with a typical salary, the payments under the RAP plan will be no higher than those under existing plans. A new income-driven repayment plan is set to lower total costs for many student loan holders but raises monthly payments for low-income borrowers. The “One Big, Beautiful…

Stay informed with free updatesSimply sign up to the Artificial intelligence myFT Digest — delivered directly to your inbox.The data company Gartner is famous for mapping the “hype cycle” of different technologies. In this year’s edition, generative artificial intelligence has passed over the Peak of Inflated Expectations and is now sliding into the Trough of Disillusionment. Only later will it reach the Slope of Enlightenment and the Plateau of Productivity.The launch of OpenAI’s ChatGPT three years ago certainly triggered an avalanche of excitement about the possibilities of generative AI. The take-up of the technology has been among the fastest in…

While the Supreme Court weighs whether the import tariffs President Donald Trump imposed this spring using emergency powers are legal in a case brought by several small businesses, Costco has joined dozens of larger firms seeking relief of their own.“This separate action is necessary,” the retail giant argues in its suit filed in U.S. International Trade Court Friday, because refunds are not guaranteed “for those unlawfully collected tariffs in the absence of their own judgment and judicial relief.”Costco is considered less exposed to tariffs than many other retailers since just one-third of its sales in the U.S. come from imports…

November ended flat for the S&P 500, which gained just 0.13%, but recent trends suggest a positive start to December. Since hitting a low on November 21, the index has rebounded 4.45% as investors grow more confident that the Fed will lower rates. The is next Wednesday, with markets pricing in an over 85% chance of a 0.25% rate cut. Expectations of additional cuts next year are also supporting a bullish outlook for stocks. December often benefits from positive seasonal trends, with a “Christmas rally” typically peaking in the week before December 25. The recently completed Q3 earnings season has…

President Donald Trump’s tariffs, aimed at reshoring American jobs lost to overseas manufacturing, could end up lowering domestic head count instead, according to recent statements from corporate executives and economic forecasters.With the labor market already on its heels in a no-fire, no-hire climate, concerns are rising that the duties on U.S. imports will raise operating costs and force companies to start paring their employment rolls.For instance, respondents to the Institute for Supply Management’s November survey of factory conditions expressed elevated levels of worry.”We are starting to institute more permanent changes due to the tariff environment,” one transportation equipment executive wrote.…