Author: Money Mechanics

Few would argue with the idea that hiring a financial professional to assist with your financial plan and an attorney to draw up your estate plan is a wise move.Each professional brings specific expertise to those undertakings, knowing the best practices for achieving your goals.But even then, pitfalls await the unwary. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99, plus get up to 4 Special Issues CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement,…

In today’s increasingly politicized financial environment, a growing number of high-net-worth American taxpayers are exploring ways to move abroad — and take their money with them.While it’s tempting to attribute this solely to economic fears or investment optimization strategies, the reality is more complex. Americans who want to reposition their wealth internationally must navigate a labyrinth of regulatory hurdles, tax implications and strategic choices.Why are U.S. investors going global?Traditionally, U.S. investors have been heavily U.S.-centric. It’s not hard to see why. The American stock market is the most liquid and has historically outperformed most others over long periods. From just…

Leaving a financial legacy is an important factor in financial planning for many retirees, particularly those with high net worth.Whether the goal is to give loved ones a financial boost, strengthen their retirement or contribute to grandchildren’s education, proper planning can allow retirees to make an impact long after they pass away.Taxes can be a significant factor in determining how much is left. If you aren’t tax-efficient in your strategy, you might be paying a large portion of your legacy to the government rather than your loved ones. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better…

T-Mobile has started notifying some customers that it is retiring older phone plans and automatically moving affected accounts to plans from its current lineup.The changes could mean higher monthly bills for thousands of customers. T-Mobile hasn’t released a full list of affected plans, but some customers being moved may have been on the same plan for 10 to 15 years.By retiring older plans and moving customers over to current plans, T-Mobile is able to offer customers expanded features, like premium speeds and increased hotspot data. Retiring old plans also allows mobile carriers to streamline their billing systems and move customers…

It’s not a secret that AI adoption is becoming increasingly commonplace in Corporate America. But it’s not just giant corporations that are using it. A 2026 Intuit QuickBooks survey (PDF) found that 77% of small and midsize businesses now use AI regularly, up from 48% two years ago.If you own a small business, you may be looking to increasingly lean on AI tools to improve productivity and save on costs. In fact, the same QuickBooks survey found that 78% of US respondents reported productivity gains from AI use, and 42% reported revenue gains. For large companies, a PwC study found…

In October 2024, the Harris Poll asked Americans about pets and kids: “If you had to choose, which would you prefer in the future?” Of the 2,125 respondents, 18% said children, 43% said pets, and the rest said both. Harris also found that a majority of Gen Z pet owners would give up a year of their own lives if it would add a year to their pet’s life.In case you hadn’t noticed, Americans have gone ga-ga over their pets. Some two-thirds of households own at least one, and, according to the Federal Reserve Bank of St. Louis, total spending…

In many areas of the country, homeowners are feeling the squeeze as property taxes climb at a faster clip than inflation.In 2025, the average owner of a single-family home, with an estimated value of $494,231, paid $4,427 in taxes, according to a recent study from ATTOM, a provider of property data. That’s a 3% increase from the previous year, compared with a 2.7% inflation rate in 2025.The study, which analyzed property tax data collected from county tax-assessor offices throughout the country, found that some areas saw significantly steeper increases in average tax bills. Large metro areas that had the biggest…

continues recovering as markets balance renewed shipping disruptions against broader demand expectations ahead of the release of the . Treasury yields, positioning and expectations surrounding future policy remain important macro variables, while energy markets continue monitoring inventories and developments across key global trade routes. The market has entered a policy-driven phase following last week’s macro data. Manufacturing activity moderated modestly, though it remained in expansion territory, while investors have shifted their attention toward the FOMC Minutes for additional guidance on how policymakers assess inflation, growth and the future policy path. Reuters noted that markets are looking to the Minutes for…

Swiss Re has said that while the non-life insurance and reinsurance market has entered a softer phase of the underwriting cycle, it does not anticipate the depth of the downturn being as significant as we’ve seen in the past.Swiss Re’s Institute published a new sigma report on the global insurance market today, signalling that the softer market environment will moderate premium expansion in non-life risks. The reinsurance company also cautions on the risk of fragmentation, as capital controls, regulatory divergence, sanctions and financial system segmentation all pose a threat to the way reinsurance, retrocession and alternative capital market or insurance-linked…

West Palm Beach, FL, where the typical luxury home costs 8.9 times more than the typical non luxury home, has the nation’s biggest luxury home price premium. Next comes Miami, with a median luxury-to-non luxury home price ratio of 8.8, and New York City, where the typical luxury home costs 5.5 times the typical non luxury home.  Portland, OR, where the typical luxury home costs 2.6 times more than the typical non luxury home has the nation’s smallest luxury home price premium, followed by Sacramento, CA (3) and Columbus, OH (2.9). Nationwide, the typical luxury home costs 3.6 times more…