Author: Money Mechanics

Key Takeaways In 2023, average spending for those ages 65 and older was $60,087 per year, or slightly more than $5,000 per month. The largest spending categories were housing, clocking in at $1,787 per month, transportation ($752.75), healthcare ($668.92), and food ($642.84). Spending also included an average of $241.50 per month on entertainment, such as shows, sporting events, club memberships, camping, and pets. Comparison is often called the thief of joy, but when it comes to retirement, it can be a valuable tool, helping you understand how much you might need to save and spend in retirement to maintain your…

Question: I retired at 60 two years ago with $3.1 million. My 62-year-old wife still works because she wants to. However, she resents my free time. Help!Answer: A 2024 MassMutual survey found that 63 is the ideal age to retire, according to both retirees and pre-retirees. But if you’ve saved enough, are tired of the daily grind, and want to enjoy more free time while you’re relatively young, you may opt to retire on the early side.If you managed to accumulate $3.1 million by age 60, it’s easy to see why you’d feel comfortable retiring from a financial standpoint. The…

Eli Lilly Stock Surges as Drugmaker Lifts Outlook Following Robust Mounjaro, Zepbound Sales 41 minutes ago Strong sales of Eli Lilly’s blockbuster weight-loss treatments Mounjaro and Zepbound are powering its shares Thursday morning. Eli Lilly (LLY) stock surged 4% in premarket trading after the maker of diabetes treatment Mounjaro and obesity drug Zepbound lifted its full-year outlook following stronger-than-expected third-quarter results. The Indianapolis-based firm reported adjusted earnings of $7.02 per share on revenue that soared 54% year-over-year to $17.60 billion. Analysts surveyed by Visible Alpha had expected $5.91 and $16.06 billion, respectively. Mounjaro sales more than doubled to $6.52 billion,…

Home internet is a necessity for many, and an expensive one at that. The average cost of home internet is $78 per CNET. That’s right in line with my experience, as I pay $80 for a 1-gig fiber internet plan with Frontier.If you want to cut costs, there’s a new internet provider on the block. Mint Mobile recently announced its home internet service, called MINTernet.I’ll break down how the service works. Additionally, I’ll compare its service with other cellular providers offering home internet plans to determine if Mint Mobile’s service is worth the switch for you. From just $107.88 $24.99…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.EQT is exploring a takeover of €10bn German car marketplace Mobile.de, raising the prospect that the private equity-backed business will be sold rather than publicly listed.The Swedish buyout group has held preliminary discussions with Permira and Blackstone, who led the consortium that bought Mobile.de’s parent company two years ago, according to people familiar with the matter, who cautioned that deliberations remained in early stages.Mobile.de is a unit of European classifieds group Adevinta, which is being broken up by its new owners. EQT…

Key Takeaways Atlanta tops the list for the most spacious luxury homes, with a median size of 4,530 square feet for new listings priced between $1 million and $2 million. Southern and Midwestern metropolitan cities like Houston, Dallas, Denver, and Minneapolis offer luxury buyers more space and modern amenities for their money. Buyers seeking homes in coastal markets such as Honolulu, Los Angeles, or New York pay significantly more per square foot. Want luxury amenities without a small, cramped space? Consider Atlanta, Georgia and its suburbs. Here, homebuyers with larger budgets can get the most bang for their buck—at least…

(World Oil) – The Trump administration is ruling out selling offshore oil and gas leases along the U.S. East Coast, after its initial plan for auctioning them drew alarm from Republican strongholds in the Southeast. The shift in thinking comes after the White House earlier contemplated a more expansive approach to auctioning offshore drilling rights, having drafted plans for potential sales up and down the U.S. East Coast, according to people familiar with the matter who asked not to be named because they aren’t authorized to discuss the deliberations. But news reports on that broader approach drew swift condemnation from…

Key Takeaways Despite increasingly stretched artificial intelligence stock valuations, some analysts believe prices could go even higher if the Federal Reserve aggressively cuts interest rates to stimulate a weakening economy.Historically, bubbles have been fueled by low interest rates and popped by rising rates.The Fed on Wednesday cut its benchmark rate for the second time in as many months, and market participants are pricing in the likelihood of more cuts. However, with the economic outlook highly uncertain, future monetary policy remains unpredictable. Concerns about an AI bubble have some on Wall Street warily eyeing Silicon Valley, but others say they’re looking…

Key Takeaways Nvidia became the first company to ever achieve a market capitalization of $5 trillion as its stock surged in early trading Wednesday. The stock is adding to big gains posted Tuesday after CEO Jensen Huang delivered a keynote address at Nvidia’s developers conference, highlighting the company’s latest AI products and announcing several deals.Nvidia shares on Tuesday broke out from a rising wedge on the highest trading volume since late May, signaling buying conviction behind the jump.The measured move technique projects a potential upside target of $220. Investors should also watch crucial support levels on Nvidia’s chart around $185…

Some time ago, I had a prospective client meeting with a gentleman whose daughter had special needs. The goal of his investment strategy was to leave enough money for her.That makes sense, but what didn’t make sense was his “how” — he planned to live off dividends and pass the principal along to her.Even if you can afford to do this, I don’t think it’s advisable, for a few reasons. 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…