Author: Money Mechanics

Tropical Storm Risk (TSR) has issued its extended range forecast for the 2026 Atlantic hurricane season, saying it currently anticipates activity levels around the 30-year norm, projecting 14 named storms, 7 hurricanes and 4 major hurricanes.While we’re over 6 months away from the 2026 Atlantic hurricane season, Tropical Storm Risk (TSR) always comes out with an extended range view in December. This first forecast for hurricane activity in the Atlantic basin for 2026 is almost the same as the one TSR issued a year ago for 2025. In December 2024, TSR called for 15 named storms, 7 hurricanes and 3…

Treasury Secretary Scott Bessent on Thursday proposed a major change in how the government approaches financial regulation and stability.In a letter released Thursday afternoon, Bessent will recommended altering the approach of the Financial Stability Oversight Council.Whereas the agency’s focus had been tightening regulations and oversight of the institutions it oversees, the new plan will switch that, and push for looser regulation and a freer approach.”[T]he Council will work with and support member agencies in considering whether aspects of the U.S. financial regulatory framework impose undue burdens and negatively impact economic growth, thereby undermining financial stability,” the letter states.Bessent further noted…

Follow ZDNET: Add us as a preferred source on Google.Welcome to ZDNET’s “Breakthrough” Awards for 2025, our latest tradition that celebrates the most innovative and forward-thinking technologies to cross our editors’ desks this year.Over the past 12 months, we’ve spent countless hours challenging the utility of foldable phones that dominated the mobile conversation, lived entire work weeks through the lens of new smart glasses and VR headsets, and benchmarked more robots than ever, from ones that can ideate and pull context through the lenses of our phones, to ones that can sweep, vacuum, mop, and accomplish every chore in between.Also: The 40 best…

Key Takeaways The primary benefits of buying property in a tourist destination include potential income and capital gains, as well as quick access to local attractions.The downsides include higher costs, seasonal fluctuations, crowds, and potentially strict regulations.How you classify your vacation-town property—primary residence, second home, or investment—affects everything from your mortgage rate to your tax breaks and rental restrictions. The idea of owning property in a place so desirable that people flock there for vacations can be incredibly appealing, both from a personal and financial perspective. However, before getting swept up in thoughts of beautiful settings and promising rental income,…

Key Takeaways Those under age 35 had a median transaction account balance of $5,400 as of 2022 and an average balance of $21,000. Those in the 35-44 range had a median of $7,500 and an average of $42,000. Those in the 45-54 range had a median of $9,000 and an average of $71,000. The average down payment on a home in the U.S. is around $60,000, as of the third quarter of 2025. If you’re looking to buy a home in your 30s or 40s, you can boost your savings by seeking out down payment assistance, strategically paying down debt,…

Key Takeaways It’s possible to enjoy the sea, nature, good weather, laid-back lifestyle, and the other benefits of island life on a much lower budget than in the U.S.The islands on this list offer natural beauty, tranquillity, the ability to get by in English, and accessible visas.The downsides of island life include fewer food choices, potential boredom, and being far from home and specialist health care. Ever dreamed of spending your post-working years on an island but figured you’d never be able to save enough to make it happen? Think again. The warm climates, ocean views, natural beauty, and laid-back…

The data drought of the government shutdown is giving way to a deluge. Several long-awaited economic reports are on the schedule this week. Market watchers will get delayed reports on employment levels, retail sales, and inflation, along with regularly scheduled data on existing-home sales and consumer sentiment. Fed Chair Jerome Powell said central bankers need more data as they evaluate the path of interest rates; Remarks by Fed governors Stephen Miran and Christopher Waller could sway markets as investors await signals on the central bank’s next move on interest rates. Investors will get another look at the artificial intelligence trade…

(Image credit: Getty Images)The Social Security trust fund that pays benefits to retirees is projected to face a shortfall by 2033, according to the latest report from Social Security’s Board of Trustees. At that point, payroll taxes would cover only about 77% of promised benefits.The headlines sound dire, but for affluent retirees, panic isn’t a plan.Each of the fixes being debated in Washington — raising the full retirement age, reducing benefits for higher earners or increasing payroll taxes — impacts income and taxes differently. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from…

(Image credit: Getty Images)In the mid-1800s, a young Hungarian doctor named Ignaz Semmelweis made a discovery that should have saved countless lives.While working at the Vienna General Hospital, he noticed that women giving birth in the doctors’ ward were dying from childbed fever at a staggering rate — five times higher than those in the midwives’ ward.After months of observation, Semmelweis realized the horrifying truth: Doctors were performing autopsies in the morning, then delivering babies immediately afterward without washing their hands. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99,…

Question: I’m retired and comfortable, and want to give each of my three grandkids $5,000 for Christmas, but their parents don’t want them to blow the money. How should I handle this?Answer: As rewarding as it can be to raise children of your own, take a survey of older Americans, and they’ll probably agree that watching their grandchildren grow up is equally rewarding, if not more so. There’s just something special about the relationship people have with their grandchildren.If you’re retired and financially comfortable, you may be inclined to shower your grandkids with gifts or treats from time to time.…