Author: Money Mechanics

(Image credit: Getty Images)Buying a house is a goal for many Americans, but achieving that goal is becoming increasingly difficult. As housing costs climb faster than paychecks, many buyers are left wondering how far their money will really go.As home prices and interest rates rise, the income needed for a house has also increased. The median sales price of houses sold in the United States during the second quarter of 2025 was $410,800, according to Federal Reserve Bank of St. Louis data.Buying more house than you can afford is an expensive and stressful mistake, so it’s essential to do some…

Key Takeaways Roomba robot vacuum maker iRobot announced a Chapter 11 bankruptcy filing on Sunday.A deal for Amazon to buy the company fell through last year. Shares of iRobot (IRBT) plummeted over 70% Monday morning after the Roomba robot vacuum maker announced a Chapter 11 bankruptcy filing on Sunday. The company said it plans to have one of its lenders and its primary contract manufacturer, a Chinese robotics firm called Picea, acquire 100% of its equity, with iRobot set to continue operating as a private company under Picea. CEO Gary Cohen said the Chapter 11 filing and acquisition by Picea…

This short, six-question quiz tests your basic understanding of why a comprehensive estate plan is crucial. We’ll focus specifically on the key differences between asset transfers through court-supervised probate and through private estate planning tools like a revocable living trust.Get started to see how well you understand the benefits of planning for the future and ensuring your final wishes are carried out efficiently and privately. And don’t worry if you miss an answer; you can follow the links below the quiz to brush up on your knowledge.More on Estate Planning, from the Kiplinger team: From just $107.88 $24.99 for Kiplinger…

Some retirees are happy living off the interest and dividends from their portfolio investments, leaving the principal to grow. Others are willing to take a risk if it means they could hit the jackpot with their investments and live comfortably off the returns. Many people want a little bit of both strategies, generating a safe income stream and some returns to make it last.They can have the “Best of Both Worlds” with the total return approach to retirement spending.”It’s not just about the interest, dividends and income generated, it’s also about capital appreciation,” said Eric Dostal, managing director at Wealthspire…

(Image credit: Getty Images)As the year winds down, many people meet with their advisers to revisit taxes, estate plans and retirement accounts. This is a familiar routine, but 2025 is not an ordinary year.Several tax provisions from the One Big Beautiful Bill Act (OBBBA) become effective in 2026, and those changes will alter your approach to charitable giving, gifting to loved ones or friends and retirement planning.At the same time, interest rates have begun to drift lower, which opens doors for planning opportunities that were less attractive in recent years. From just $107.88 $24.99 for Kiplinger Personal Finance Become a…

Key Takeaways ServiceNow is reportedly close to acquiring Internet of Things cybersecurity firm Armis.The deal could be worth as much as $7 billion, Bloomberg reported. Shares of ServiceNow (NOW) sank Monday following a report the the AI-driven enterprise software provider was close to purchasing Internet of Things security startup Armis for as much as $7 billion. Bloomberg reported the two companies are in advanced talks and an agreement may be announced soon. If it happens, the acquisition would be the largest ever by ServiceNow, Bloomberg said. The addition of Armis would give ServiceNow access to the company’s cyber security platform…

Key Takeaways Only 3.2% of retirees have $1 million in retirement accounts vs. about 2.6% of Americans in general. The average retirement savings for households aged 65-74 is $609,000, while the median is only about $200,000. The number of “401(k) millionaires” in America reached a record of about 497,000 last year. Many Americans dream of retiring with a million-dollar nest egg —Americans in general think you need about $1.5 million to retire—but the reality is starkly different. Using figures from the U.S. Federal Reserve’s Survey of Consumer Finances (updated to 2022 but released in 2025), only about 2.5% of all…

Payment fraud in the European Economic Area (EEA) reached €4.2bn ($4.9bn) in 2024, up from €3.5bn in 2023, according to the latest joint report by the European Banking Authority (EBA) and the European Central Bank (ECB). The European payment fraud trends highlighted in the report underlines the importance of strong customer authentication (SCA) and the need for ongoing vigilance against evolving threats. The 2025 edition of the EBA-ECB report covers semi-annual data from 2022 to 2024 and confirms that the legal requirement for SCA, introduced in 2020, has contributed to reducing overall fraud levels. However, it also emphasises that new…

The market has come under further pressure with Russia-Ukraine ceasefire talks progressing Energy- Ceasefire Hopes Grow Renewed optimism over a Russia-Ukraine ceasefire weighed on the oil market yesterday. ICE settled a little more than 0.9% lower, leaving it at $60.56/bbl — the lowest close since May. President Trump has said that an agreement to end the war in Ukraine is closer than ever, after talks in Berlin. Clearly, territory remains a big sticking point. Oil markets will be watching developments closely, given the significant supply risk from sanctions on Russia. While Russian seaborne oil exports have held up well since the…

The company said it focuses on access and flexibility, with no minimum credit score or long-term lease required, allowing residents to move in quickly, sometimes within 48 hours. “Unfortunately, the housing crisis is just getting worse,” said Atticus LeBlanc, founder and CEO of PadSplit. “There aren’t nearly enough affordable options on the market today, in any city. We’re also seeing more pricing pressures across groups, including those with lower incomes and seniors on fixed incomes. “Couple that with the fact that there are more hoops to jump through when applying for a traditional apartment or even a studio, and you…