Author: Money Mechanics

Bitcoin rose as high as $115,800 in an attempt to recover after last week’s sharp decline; however, it could not maintain this level. The resistance encountered at the beginning of the week corresponded to the upper limit of the bearish channel that has been followed since July. The failure of the upside breakout increased the selling pressure again and led the price to retreat rapidly. The cryptocurrency, which was weak throughout the week, fell to the critical support at an average of $106,000 on the last trading day of the week.This level is not only the lower boundary of the…

Scott Harmes, C2 Reverse Scott Harmes I drive my wife nuts because I’m always telling everybody that we have a reverse mortgage. Then one of the common questions is, ‘What is a reverse mortgage?’ My question for you is, do you have a very good, concise explanation for clients? Here’s mine: ‘Your reverse mortgage was created by an act of Congress in 1987, signed into law by President Reagan in 1988, as a benefit for senior homeowners who earn that benefit through age and equity accumulation. So it’s much like the benefit that a VA loan is for a veteran.…

ZDNET’s key takeaways The Acer Aspire Go 15 is available for around $299 across major retailers. For an affordable price, the Acer Aspire Go 15 is a capable laptop for everyday use with a decent battery. As with most devices in this price range, the laptop’s limitations become apparent with heavy workloads. Follow ZDNET: Add us as a preferred source on Google.Not everyone needs a decked-out laptop with expensive hardware. For users seeking an affordable laptop that’s good enough for everyday use, the Acer Aspire Go 15 — a more recent addition to Acer’s budget laptop line — fills that niche well.…

Key Takeaways If you’re looking to retire at 40, the 25x rule can provide a starting point, but early retirees often need significantly more. Long retirements bring unique risks, including health care costs, inflation, and market shocks. Experts suggest combining aggressive saving strategies with careful stress-testing of assumptions. If you want to retire at 40, the typical advice is this: you’ll need to save 25 times your annual expenses before you stop working. In other words, if you expect to spend $80,000 per year, you’d need a nest egg of $2 million by 40. However, experts caution that early retirement…

Year Deposits Interest Rate Earnings Closing Balance 1 $1,825 4.00% $39.86 $1,864.86 2 $1,825 4.00% $115.85 $3,805.71 3 $1,825 4.00% $194.92 $5,825.63 4 $1,830 2.00% $137.49 $7,793.12 5 $1,825 2.00% $177.11 $9,795.23 6 $1,825 2.00% $217.52 $11,837.75 7 $1,825 2.00% $258.75 $13,921.50 8 $1,830 3.00% $453.39 $16,204.89 9 $1,825 3.00% $522.69 $18,552.58 10 $1,825 3.00% $594.10 $20,971.68 Totals $18,260 $2,711.68 $20,971.68 The best part of this is that you could have nearly $21,000 to build from after 10 years. At 3.00% interest in year 10, that balance is earning more than $50 per month. Simple Savings Options for $5 Per…

Key Takeaways Estimate how much you will need for retirement by multiplying 80% of your current salary by the number of years you plan to be retired. Start early, save consistently, and use tax-advantaged retirement accounts to ensure you have enough in retirement. By investing $300 a month at age 25, your savings can grow to more than $660,000 by age 65, assuming a 6.69% annual return. Saving for retirement can feel like an all-or-nothing situation. Either you need to set aside hundreds of dollars every month or it’s not worth trying to save at all. However, don’t let perfect be…

Economic Data Blackout Could Become Data Dark Age As Shutdown Drags On 1 hr 48 min ago Missed economic reports by government statistical agencies have economists wondering what will happen if the data simply never arrives.  Experts have assumed that the government’s statistical agencies will play catch-up once the government reopens and publish belated reports for October, as they have done in past shutdowns. But with the current shutdown looking like it could be the longest in history, economists are starting to consider what will happen if agencies skip reporting October entirely and it becomes just a blank spot on…

If you drive a Nissan NV200 van or Chevy City Express, you might want to check your mailbox soon. Nissan just announced a major recall that affects more than 173,000 vehicles across the U.S., and it’s all due to a wiring issue that could cause your car to stall while driving.While recalls are fairly common in the auto industry, this one is notable because it involves vehicles that are especially popular among small business owners, delivery drivers, and city commuters who rely on their vans for daily work.The recall, reported through the National Highway Traffic Safety Administration (NHTSA), highlights how…

Fall’s arrival means it’s time for those with access to company-sponsored nonqualified deferred compensation to decide whether to participate.Deferred compensation is an employer-sponsored plan in which the participant elects to forgo current wages or a bonus in exchange for a promise to be paid at a future date.The advantage of deferred compensation is that the amount deferred is excluded from gross income in the year contributed, so there’s no federal or state income tax owed. However, FICA taxes are still paid. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign…

In my Kiplinger articles about how to build a better retirement plan, I often point out that homeowners who include home equity as an asset in their retirement plan can meet more of their retirement objectives.The number of retirees who take advantage of a home equity conversion mortgage (HECM), however, has never equaled retirement experts’ expectations.It’s not the design or pricing of the product, but rather, in my view, the limitations on how the performance of a HECM is presented and the challenges of integrating a HECM into a broader retirement plan. From just $107.88 $24.99 for Kiplinger Personal Finance…