Author: Money Mechanics

(Oil Price)– The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw a build of 2.4 million barrels in the week ending December 19. Crude oil inventories shrank by 9.3 million barrels in the week prior. Crude oil inventories in the United States are so far showing a net decrease of 6.7 million barrels for the year, according to Oilprice calculations of API data. Earlier this week, the Department of Energy (DoE) reported that crude oil inventories in the Strategic Petroleum Reserve (SPR) have risen by 800,000 barrels to 413 million barrels in the week ending…

Key Takeaways Among the most common financial mistakes, a scattered portfolio, old accounts, and overlooked documents can quietly drain wealth.Tax inefficiency and outdated beneficiaries often go unnoticed until it’s too late.If you want to prevent costly mistakes, make sure you have a clear financial plan that you regularly revisit and adjust as necessary. Many people assume their finances are in decent shape—until a closer look reveals gaps that can cost them money, time, and peace of mind. Carolyn McClanahan, founder of Life Planning Partners, says new clients often arrive with portfolios and plans that don’t line up with their goals—or…

Key Takeaways You can find active gallery scenes and theater districts in towns where homes cost half the national average.In smaller artistic towns, social life can involve gallery walks and workshops rather than expensive country clubs.These towns might be small, but they all host or sit near regional medical centers capable of handling older adult needs. Most people assume retiring to an “art town” means paying Santa Fe prices or fighting for parking spots in Asheville. But the creative impulse isn’t exclusive to pricier zip codes. A quiet migration is possible toward smaller, quirkier American towns where you can still…

Key Takeways Selling investments without considering tax timing can push you into higher brackets. Coordinating financial decisions with your CPA or advisor before acting—rather than after—prevents costly surprises.​ Required minimum distribution (RMD) mistakes now carry a 25% penalty, down from 50%, but still sting when miscalculated.​ The IRS assessed about $4.8 billion in estimated-tax penalties on more than 15 million individual returns in fiscal year 2024—almost triple what it collected two years earlier. Many of those bills came from underpaying taxes from selling a winning stock, withdrawing retirement funds, or simply failing to talk to a tax professional before making…

(Image credit: Getty Images)Between economic uncertainty and the growing cost of living, many older Americans are asking: “Should we retire abroad?”It’s an idea that stirs equal parts excitement and apprehension. On one hand, there’s the dream of a richer, more fulfilling chapter of life — one marked by beauty, culture and peace of mind.It’s also a daunting practical challenge involving health care, visas and retirement income. 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…

(Image credit: Getty Images)As we approach the close of 2025, many people find themselves reflecting on what has felt like a transitional year — economically, legislatively and personally.This year brought continued market resilience despite persistent inflation concerns, the introduction of meaningful tax-policy shifts and more clarity around retirement rules that have been in flux since the SECURE Act’s passage.For individuals and families, these changes underscore an essential truth: Sound financial planning is never “one and done.” It is a dynamic process that requires regular review, thoughtful adjustments and a clear eye toward the future. From just $107.88 $24.99 for Kiplinger…

Welcome to Kiplinger’s My First $1 Million series, in which we hear from people who have made $1 million. They’re sharing how they did it and what they’re doing with it. This time, we hear from a married 48-year-old banking executive who lives in the Southeast but is originally from the Northeast. He’s still working, but his wife left her job when they had the first of three children many years ago.See our earlier profiles, including a writer in New England, a literacy interventionist in Colorado, a semiretired entrepreneur in Nashville and an events industry CEO in Northern New Jersey.…

As a retirement editor, I sift through hundreds of stock photos of aging couples; I’ve come to know one perfect pair that consistently hits just the right note for a retirement article. They are, essentially, a mirror to our own sense of what aging should look like. Around Kiplinger, we call them “Dan” and “Sue,” though we don’t know their actual names.They are both athletic, with thick, silver hair and bright smiles. In their late sixties, they are active and fun, but they also look like the kind of people who would pore over tax brackets. I’m almost certain they…

Whether you’re looking to build your emergency fund or save for a short-term goal, a high-yield savings account (HYSA) can help you achieve them. They are also great savings vehicles for investors looking to avoid the short-term capital gains tax.When searching for a HYSA, the best place is online. Why? Because online banks offer much better returns and their accounts usually come with no account minimums or fees.If you’ve been curious about opening a savings account online but haven’t gotten around to it, I’ll show you an easy way to start maximizing your returns. Best of all, you can do…

Key Takeaways In contrast to most financial advisors, Munger called wide diversification “protection against ignorance,” useful only when you don’t have conviction.  Holding too many positions, he argued, can raise costs, blunt big winners, and still leave you exposed to market shocks. Munger advocated a balanced approach—owning a few great companies plus low-cost index funds—that can capture upside without unnecessary clutter. But he said “know-nothing” investors—which is most people—should rely on broad market index funds. Diversification is almost a sacred word when it comes to investing, but the late Charlie Munger—Warren Buffett’s longtime partner at Berkshire Hathaway—argued that some investors…