Author: Money Mechanics

Key Takeaways Social Security recipients will see a 2.8% COLA increase in 2026, but some of that boost is to be offset by rising Medicare Part B premiums. The monthly Medicare Part B premium will rise almost 10% to $202.90 per month, cutting into the 2026 COLA announced last month. That extra cash landing in your Social Security check next year? Don’t spend it just yet. Medicare just announced its 2026 premiums, and they’re about to take a bite out of your cost-of-living raise. For the average retiree, what looked like a $57 monthly boost will shrink to just $39…

A growing number of women inheriting wealth are redefining philanthropy.Rather than focusing on luxury or one-time donations, many are channeling their resources into lasting, purpose-driven movements that can shape communities for generations.One powerful example is Alice L. Walton, the richest woman in the world, who recently opened her own medical school and is covering tuition for its first five graduating classes, as reported by Time magazine. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on…

It’s the time of year when everyone returns home to the nest. Between meals, travel plans and old traditions, there are usually a few quiet moments when parents and young adult children can truly connect.As many parents know, these moments can be fleeting once young adults are out in the world, but when they do occur, they can be a great time to check in on how things are going — including with money.Whether your child is on break from college, in the midst of job hunting or settling into their first job, the holidays provide an ideal opportunity to…

Key Takeaways Warren Buffett, chair and CEO of holding company Berkshire Hathaway, says stock splits often increase transaction costs, invite short-termism, and detach price from business value. Berkshire created low-denomination Class B shares in 1996, and later split them 50-for-1 in 2010 as a targeted exception to the rule, not as a reversal of principle. Buffett’s philosophy aims to attract “business-owner” investors. Warren Buffett has long argued against stock splits, as he believes they increase trading churn, invite short-term speculators, and detach the share price from underlying business value. Splits were one step Berkshire Hathaway would never take in Buffett’s view,…

When Congress established 529 plans in the 1990s, they were designed as a tax-advantaged tool to save for college.Contributions to these investment accounts grow tax-deferred, and you can withdraw funds tax-free for qualified college expenses, such as tuition, room and board, computers, and books. Most states and Washington, D.C., also offer a tax deduction or credit for residents who contribute to their state’s plan.Over the years, tax-free uses for 529 funds have expanded to include some other educational costs, too, including apprenticeship programs and tuition for kindergarten through 12th-grade schooling. The One Big Beautiful Bill Act, signed into law over…

Key Takeaways Southwest no longer offers two free checked bags to all travel tiers.Some travelers, like A-List Preferred or Business Select members, still qualify for waived fees.New fees apply to lower fare classes like Basic, Wanna Get Away Plus, and Anytime, while higher-tier fares still include two checked bags. Southwest Airlines built its brand on letting your bags fly free. But recent changes have started to chip away at that promise. While the airline still offers some ways to avoid checked bag fees, they’re not as universal as they used to be. Here’s what travelers should know before they fly.…

Editor’s note: This article is part of an ongoing series in which we ask influential personal finance figures to share their opinion on the biggest retirement mistake you can make. Other articles feature Suze Orman, Dave Ramsey and Grant Cardone.Saving for retirement is only half the battle; spending what you saved wins the war. But for a surprising number of retirees, letting go of that hard-earned cash is easier said than done.This pervasive reluctance, according to MasterClass instructor, author and behavioral finance expert Ramit Sethi, is the single greatest mistake people make in retirement. From just $107.88 $24.99 for Kiplinger…

Stock futures pointed higher Monday to begin a holiday-shortened week, with investors increasingly confident the Federal Reserve will cut interest rates at its December meeting. Futures associated with the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average were up a respectively 0.7%, 0.5%, and 0.2%. Stock and bond markets will be closed Thursday for the Thanksgiving holiday, and will be closing early on Friday. The CME FedWatch tool now is predicting a roughly 75% likelihood that the Federal Reserve will cut interest rates at its meeting next month after New York Fed President John Williams signaled Friday that he could support an…

Global asset manager Schroders has teamed up with Thai company Krungthai Asset Management to launch catastrophe bond fund strategies specifically for the Thai ultra-high net worth investor marketplace.The new KTAM Catastrophe Bond Funds will act as feeder funds into an established cat bond fund managed by the Schroders Capital insurance-linked securities (ILS) team. The two new cat bond feeder strategies are called the KTAM Catastrophe Bond Fund Not for Retail Investors and the KTAM Catastrophe Bond Fund Unhedged Not for Retail Investors. They are designed to help open-up access to the diversifying and relatively uncorrelated catastrophe bond asset class to…

Scott Bessent, US treasury secretary, arrives to speak during a site expansion groundbreaking ceremony at the Boeing South Carolina (BSC) manufacturing facility in North Charleston, South Carolina, US, on Friday, Nov. 7, 2025. Sean Rayford | Bloomberg | Getty ImagesTreasury Secretary Scott Bessent said on Sunday the U.S. was not at risk of entering a recession in 2026 and claimed Americans would soon benefit from the Trump administration’s economic policies on trade and taxes. “I am very, very optimistic on 2026,” Bessent said in an interview on NBC News’ “Meet the Press.” “We have set the table for a very…