Author: Money Mechanics

Central Park Tower, center, along Billionaire’s Row in New York, US, on Friday, May 1, 2026. Michael Nagle | Bloomberg | Getty ImagesHigh-end real estate sales in Manhattan increased in the past month, according to new data, despite New York Mayor Zohran Mamdani’s proposed pied-à-terre tax that brokers warn could cause a wealth flight.There were 133 contracts signed for apartments priced at $4 million or more between April 14 and May 10, according to Olshan Realty. That compares with 130 during the same period last year. The total dollar volume increased by 10% to $1.12 billion, Olshan said.Sales at the…

Five-year-old European military drone startup Helsing is reportedly close to raising a new $1.2 billion round at about an $18 billion valuation. The round is expected to be led by Dragoneer and co-led by existing Helsing investor Lightspeed, the Financial Times reported. Helsing last raised just under a year ago, in June 2025, in a deal that was led by billionaire Spotify founder Daniel Ek. That was a €600 million investment at an estimated €12 billion valuation ($14 billion USD). So this new round is a step-up. While Helsing isn’t the only European unicorn defense tech, it is by far the…

(World Oil) – The reputation of the Strait of Hormuz as a reliable artery for global energy trade may be permanently damaged by its prolonged closure, International Energy Agency Executive Director Fatih Birol said. Even if movement is restored, “the vase has been broken. You can’t glue it back together,” Birol said, warning that the disruption has undermined confidence in what was once one of the world’s most critical oil and gas choke points. “If it was once closed, it can be closed again.” Speaking to reporters in Vienna, ahead of a meeting with Haitham Al Ghais, secretary general of the…

Plan ahead to make sure your confidence will last the rest of your life.gettyThere is little evidence of a widespread retirement crisis among current retirees, according to EBRI’s 2026 Retirement Confidence Survey. This conclusion comes in spite of differing predictions from various pundits for a few decades. For example, the survey reports that two in three retirees say they’re living the lifestyle they envisioned, and three in four say they can spend amounts they want within reason. In addition, almost three in four retirees (73%) report being very confident or somewhat confident in having enough money in retirement. These statistics…

Sales of existing homes inched up in April, driven by modest gains in affordability that managed to outweigh market uncertainty stemming from the ongoing conflict in the Middle East. Existing-home sales rose 0.2% last month from March to a seasonally adjusted annual rate of 4.02 million, but remained unchanged year over year, the National Association of Realtors® reported Monday.Month-over-month, sales of previously owned homes accelerated in the Midwest and the South, were flat in the Northeast, and declined in the West. Compared to last April, sales rose in the South, were stagnant in the West, and fell in both the Northeast and Midwest.Condominiums…

Our FRED graph above shows that unemployment is almost always doing one of two things: (1) declining slowly during expansions or (2) rising rapidly during recessions. Friedman (1964, 1993) compared this behavior to playing a musical instrument, describing it as a “plucking model” of unemployment. Over the past 3 years, however, the unemployment rate has done something it almost never does: It has risen slowly from a low level, but there has been no sharp rise accompanied by a recession. Our non-FRED graph below* illustrates how unusual this behavior is. The jagged red line is the US civilian unemployment rate.…

Rising Middle East tensions and continue supporting safe-haven demand for the US dollar. Inflation, Fed leadership changes, and retail sales could drive DXY volatility this week. US dollar index remains technically weak despite geopolitical support and elevated global uncertainty. Global markets are starting the week with investors weighing several risks at the same time. The US dollar is holding near the 98 level, supported by safe-haven demand during uncertain periods, but it is still struggling to gain strong momentum. Rising tensions in the Middle East are keeping oil prices high, while changes in US Federal Reserve leadership are creating uncertainty…

(Image credit: Getty Images)Most investors begin their search for a financial advisor by asking a familiar question: “What do you charge?”It’s understandable — but it’s the wrong place to start.The better question is simpler and more revealing: “What type of financial advisory service do I need?” 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, personal finance and more -…

(Image credit: Getty Images)You’ve worked hard and spent decades building something significant, and, naturally, you want it to have a lasting impact for your family.Earning, saving and investing have been your focus over the years, and you’ve probably also taken most or all of the typical estate planning steps.Last year at Catalyst Advisory, we surveyed 1,000 American adults and found that 90% hope to have something to leave behind for future generations. It’s clear that legacy matters to most of us. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99,…

(Image credit: Getty Images)The most stressful Social Security meetings I have aren’t about whether 62, 67 or 70 is “best.”They’re about the week someone planned to file … and suddenly can’t.A few months ago, a client — let’s call him Jeff — called me from the back seat of an Uber on the way to Chicago’s O’Hare airport. Jeff and his wife are the kind of people who do retirement the way they do travel: With spreadsheets, backups and confirmed reservations. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88 $24.99,…