Author: Money Mechanics

(World Oil)– TotalEnergies has completed the sale of an indirect 9.998% interest in Malaysia’s SK408 offshore gas block to PTTEP, strengthening the companies’ long-standing partnership while allowing TotalEnergies to optimize its upstream portfolio in the country. Following the transaction, TotalEnergies retains a 30.002% working interest in SK408 and remains operator of the block, which is considered a key contributor to Malaysia’s domestic gas supply. Financial terms of the deal were not disclosed. The divestment builds on a series of recent moves by TotalEnergies to consolidate its position in Malaysia, including the acquisition of SapuraOMV Upstream in December 2024 and the purchase of…

Key Takeaways Starting a 401(k) early gives compound interest more time to grow your savings. Employer matching is essentially free money that accelerates long-term returns. To choose between a traditional 401(k) and a Roth 401(k), decide when you want to pay taxes—either now (get a Roth account) or in retirement (get a traditional account). If you’re a young worker, retirement planning can feel overwhelming, especially when you’ve barely begun your career. One Reddit user captured this uncertainty perfectly: “I am 22 and have zero idea of what a 401(k) even is to be quite honest, besides that it’s for retirement,…

Key Takeaways Ford is pulling back on parts of its EV strategy as the automaker says it is looking to respond to consumer preferences.The automaker said it expects to take on about $19.5 billion in one-time charges as part of a restructuring. Ford’s (F) electric vehicle strategy is changing gear. The automaker announced a major shift in its EV plans late Monday, with the company expecting to take on about $19.5 billion in one-time charges to account for the costs of a restructuring plan that will see the automaker focus more on hybrid and plug-in vehicles, while pulling away from…

Having a flexible plan is a wise way to handle an uncertain future for savers, especially with decreasing returns on some accounts. The Federal Reserve has cut rates at each of its last three meetings due to weak job growth.Will that continue into 2026? It’s hard to say. Inflation remains stubborn, and with a new Fed chair taking over in May, it’s anyone’s guess how things will unfold.Despite the uncertainty, there are plenty of viable options to help you achieve strong returns. Whether you’re working to reach your retirement or savings goals, here are smart solutions to consider. From just…

(Image credit: Getty Images)If your family’s phones are overdue for an upgrade, Verizon’s newest four-line deal delivers serious savings. You can outfit the whole household with premium smartphones at one of the lowest monthly rates available.Verizon is running a four-line promo, offering four free flagship smartphones when you sign up for four new lines under the Unlimited Welcome plan with Auto Pay. With this deal, you choose four of the same device, whether it’s the Apple iPhone 17 Pro, Samsung Galaxy S25 or Google Pixel 10 Pro XL. Saving money on some of the most popular smartphones.It’s easy to take…

(Image credit: Getty Images)The November jobs report, delayed from its initial December 5 release date due to the record-long government shutdown, came in higher than expected but showed the labor market continuing to exhibit signs of weakness.According to the Bureau of Labor Statistics (BLS), nonfarm payrolls rose by 64,000 in November, beating economists’ estimate for 45,000 new jobs. The report also showed 105,000 job losses for October, while figures for August were revised down by 22,000, from -4,000 to -26,000, and September’s additions were revised lower by 11,000, from +119,000 to +108,000.These revisions result in 33,000 fewer jobs combined in…

Since the start of his second term, President Donald Trump has repeatedly proposed abolishing federal income tax in favor of tariff revenues. As Kiplinger has reported, he has spoken about jettisoning taxes completely and mused about eliminating tax on the first $150,000 of income.In a November Thanksgiving video, Trump said, “Over the next couple of years, I think we’ll … be cutting income tax — could be almost completely cutting it, because the money we’re taking in is going to be so large.”Maybe you’re someone who thinks eliminating the tax is a good idea. After all, who likes paying income…

Gambling winnings are expected to be taxed more next year — at least federally. Thanks to the 2025 GOP/Trump tax and spending bill, a portion of winnings from activities like lotteries, slot machines, and sports betting face a potential double taxation.That’s because prior IRS gambling rules allowed you to deduct all gambling losses up to the amount of winnings. Starting in 2026, losses are limited to 90% of winnings.But just weeks before the new gambling tax provision becomes effective, President Donald Trump reportedly said he would “think about” repealing income taxes on gambling winnings entirely. From just $107.88 $24.99 for…

In life, accidents happen. But when they occur during retirement, it’s important to be prepared—otherwise, you risk running out of money during what should be considered your golden years. According to a recent T. Rowe Price survey of more than 7,000 retirees globally, more than a quarter (27%) of respondents said they’d be able to withstand a financial shock in retirement. Investopedia spoke with financial planners who shared what they think are the most common financial shocks retirees face and how people can prepare for them. “Retirement resilience isn’t about predicting every expense. It’s about having a safety margin with…

Key Takeaways The uptick in unemployment in November shows that the Federal Reserve was justified in cutting interest rates earlier in the year, economists said.The Fed is expected to pause its rate-cutting campaign in January to assess the impact of cuts so far, but the poor jobs report kept a January cut on the table.The Fed is cutting borrowing costs in hopes that easier money will boost spending and hiring. An unexpected jump in the unemployment rate Tuesday kept pressure on the Federal Reserve to rescue the job market by cutting interest rates.Fed officials—concerned about the health of the labor…