Author: Money Mechanics

For retirees and beneficiaries, understanding Required Minimum Distributions (RMDs) is not just a tax-planning necessity — it’s a financial imperative.Changes under the SECURE 2.0 Act have (among other things) shifted the starting age, introduced new rules for inherited accounts, and changed rules for Roth 401(k)s.Then there are common RMD mistakes, like missing the deadline for your first RMD or miscalculating the withdrawal from an inherited IRA, which can trigger a penalty. 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…

The pair has been moving lower at a steady pace since mid-September, forming part of a broader sideways trend. The US dollar has strengthened, helped by calmer relations between Beijing and Washington and lower expectations of another Fed rate cut in December, which markets had earlier considered likely. In Europe, the European Central Bank kept interest rates unchanged last week, matching market expectations. The decision was based on staying near the ECB’s target and showing signs of stability in the short to medium term. Meanwhile, the ongoing US government shutdown has kept economic activity quiet, and we may not get…

Xtar VX2 Pro Battery Analyzer and Charger ZDNET’s key takeaways This does a lot more than a regular battery charger It has a feature for batteries being put into storage and to rejuvenate old NiMH batteries The two charging slots can be used independently Follow ZDNET: Add us as a preferred source on Google.I’ve worked hard over the past few years to move away from disposable alkaline batteries and replace them with rechargeable equivalents. After all, there are some great brands of rechargeable AAA, AA, C, and D cell batteries available that will last you for years. And I’ve found that the best…

Key Takeaways Newark Liberty International Airport, located just 10 miles from Jersey City, serves over 30 airlines and offers nonstop flights to more than 180 domestic and international destinations.Jersey City offers easy access to Amtrak, PATH trains, ferries, and buses.Retirees enjoy walkable neighborhoods and a robust downtown with waterfront parks, international dining, museums, galleries, and shops. Residents in Hudson County are just a short commute away from the perks of big-city living, but with 13% lower housing costs than in New York County. Jersey City makes an excellent home base for retirees hoping to trade their 9-to-5s for frequent flyer miles. …

During your working years, it’s easy to take your income stream for granted. You put in hours each week, and a paycheck is regularly deposited into your bank account, helping you to make the mortgage payment, pay taxes and handle other wants and necessities.But when it comes time to retire, that paycheck disappears. To compensate, you need to make sure you have in place a steady income stream to replace it — and that’s not something you want to leave to chance.Unfortunately, some people do leave it to chance, expecting that Social Security will do more financial heavy lifting than…

I’m always concerned, but never surprised, when I meet a new or soon-to-be retiree who doesn’t know much about required minimum distributions (RMDs).The rules that govern these mandatory retirement account withdrawals have always been confusing.And because RMDs don’t start until you’re in your 70s, it can be tempting to put off worrying about their impact until other, more pressing planning decisions are made. 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 investing, taxes, retirement,…

One of the most productive meetings I had this year was atypical, to say the very least. I’d driven a total of about seven hours from the Salt Lake City airport into the Utah desert to explore a series of slot canyons with the CEOs of four different businesses. Despite it being largely unstructured time with no agenda, it was very purposeful, even profound.Already as far into “the middle of nowhere” as I have ever been, we arrived at the most technical of the slot canyons we’d face, where the definition of this mountainous feature crystallized in stark reality. You…

If you’re a die-hard football fan like me, you’re all too familiar with the risks and rewards of playing in the red zone.When your favorite NFL team gets the ball inside the opposing team’s 20-yard line, the margin for error is reduced. The skills, strategies and control your team demonstrates under these stressful conditions can be critical to the game’s outcome.You see where I’m going with this? 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…

Question: I’m 61 with a $950,000 401(k) and need $50,000 for home repairs. Should I borrow given today’s rates or take a 401(k) withdrawal?Answer: The nice thing about owning a home is getting to build equity in a place that’s yours. Eventually, that could mean cashing in that equity to improve your financial life, or simply enjoying the stability of staying put as long as you keep up with your mortgage payments and property taxes.The downside of owning a home, though, is that expensive repairs can arise when you least expect them. From just $107.88 $24.99 for Kiplinger Personal Finance…

Key Takeaways About one in 10 U.S. workers plan to take a sabbatical (or “micro-retirement”) in 2025. Financial planners often recommend saving enough to pay living expenses for the length of your sabbatical, such as three months. Most sabbatical-takers rely on personal savings. Americans are quitting their jobs to take extended breaks at more than double the rate they did five years ago. About 0.14% of employees took sabbaticals in January 2024, up a little more than half from just 0.9% in January 2019, according to Gusto, a human resources services company. What most people don’t realize is that the…