Author: Money Mechanics

Key Takeaways The initial accumulation of $100,000 is the hardest and most important step in building wealth, Munger says. Frugality, discipline, and patience are essential to getting to that threshold. Once you reach that critical threshold, compounding accelerates wealth growth. As Warren Buffett’s legendary right-hand man at Berkshire Hathaway, Charlie Munger spent decades building a $2.6 billion fortune. Munger’s advice on how to start building wealth was blunt and honest. It’s also a stark contrast to the get-rich-quick promises that are so common today. Munger, who passed away in 2023, said the hardest part of getting rich is putting together…

Key Takeaways If your college major has a high unemployment rate, it may be more difficult to land a full-time job in your field after graduation. Be flexible, stay open to all job opportunities, and don’t get tied to a ‘dream job’. If you don’t have any full-time experience to promote on your resume, highlight your volunteer work, internships, and part-time employment. When it comes to success in the job market, your college major can have a big impact, determining how much you’re paid and your likelihood of getting a job. For recent college students, the current job market may…

Key Takeaways Shares of HVAC company Comfort Systems were jumping Friday to extend a long upward run in 2025.Comfort Systems is one of the companies to see growth and share-price appreciation as AI spending has excited investors in firms across a range of industries. Comfort Systems shares are looking hot. The heating, ventilation and air conditioning company’s stock was recently zooming higher, jumping nearly 18% on Friday to extend 2025 and all-time highs; the shares, recently trading around $971, finished last year at $422.82. Today’s jump marks the second big one-day move in the second half of this year alone. Some…

Key Takeaways The Michigan Survey of Consumers survey showed that the public’s view of current economic conditions in October was the lowest since 2022.While inflation worries persist, the survey also showed an increasing number of consumers are worried about job losses amid weakness in this summer’s employment numbers.Nearly half of consumers said high prices were eating into their personal finances, even as inflation expectations declined slightly this month. Worries about job losses and continued price pressures are raising anxiety. The Michigan Survey of Consumers measurement of current economic sentiment in October fell to its lowest levels since August 2022, when…

Key Takeaways College has gotten more expensive over the decades, but there are still several U.S. states where the average in-state tuition at public colleges is below $10,000 per year.In Florida, North Carolina, Utah, and Wyoming, the cost of tuition to attend a public college was $8,000 or lower in the 2024-25 school year.On the opposite end of the spectrum, four Northeastern states—Connecticut, New Hampshire, New Jersey, and Vermont—had an average in-state tuition of over $17,000 per year. Though you probably know that it’s cheaper to attend a four-year public college than a private one, you might be unaware of…

When Nedra Agnew was working in the U.S. foreign service, her trajectory seemed clear: she was on a path that could one day have led to an ambassadorship. Then, in the early 2000s, her partner at the time was a financial advisor and was looking for a trainee with a CFP to join his team. She wasn’t looking for another job at the time, but Agnew specialized in administrative work, crisis management and dealing with people. “I remember having the thought, there’s no reason why I can’t be successful in this career,” she recalls. She took a meeting with a…

Key Takeaways I bond rates adjust twice a year based on six months of inflation data. Today’s Consumer Price Index (CPI) report allows us to project what the Treasury will announce next week.With inflation ticking higher, the next I bond rate will increase by about a quarter point—up to 4.42% for some bondholders.Some I bondholders will receive the boost on Nov. 1, while others will see it between Dec. 1 and April 1, depending on the bond’s issue date. We Can Now Predict the Next I Bond Rate—Here’s What’s Changing Inflation is usually bad news for your wallet—but for I…

Key Takeaways The Federal Reserve’s policy committee is widely expected to cut its benchmark interest rate by a quarter-point at the conclusion of its two-day meeting Wednesday.Fed officials are cutting rates to reduce borrowing costs on loans and support the job market.The Fed had been keeping rates higher for longer to fight inflation, but those concerns have taken a back seat as recent data have shown inflation to be stubborn but not surging out of control. The Federal Reserve’s policy committee is widely expected to cut its benchmark interest rate by a quarter-point Wednesday, as concerns about the deteriorating job…

The rising risk of an artificial intelligence crash has dominated market discussions recently, with warnings of a bubble as valuations of AI-linked technology soar ever higher. The chief concern is that AI will fail to deliver the transformative productivity gains expected, causing the huge levels of spending in the sector to dry up and share prices of tech stocks from the Magnificent Seven down to nosedive. But regardless of any market reverse or correction, tech isn’t going away and investors remain keen to maintain their exposure to this important sector. For investors who are content to have several of their…

The Social Security annual cost-of-living adjustment (COLA) for 2026 is 2.8%, the Social Security Administration (SSA) announced on Friday, October 24. This is among the smallest COLA increases since 2020, as expected, and follows a 2.5% increase in 2025. According to the SSA, the 2.8% increase will translate to an additional $56 for the average retiree, resulting in an average monthly check of $2,071, up from $2,015 in 2025. Married couples will see an average increase of $88, raising their monthly benefit to $3,208 from $3,120 in 2025.The 2026 COLA was originally scheduled to be released on October 15 and…