Author: Money Mechanics

Maxing out your 401(k) and IRA has long been the de facto way to save for retirement. But it’s not the only tax-smart way to build wealth to carry you through your golden years.Wealthy savers also tend to focus on everything from investing in income-generating assets to implementing tax reduction strategies to grow their retirement nest eggs.“When someone has been maxing out their traditional accounts most of their lives, it starts to hit them, ‘I have most of my wealth in the stock market or bond market,’” says Nick Hamilton, national manager at Alliant Retirement and Investment Services. “I want…

Millions of older Americans reach the point of needing help in order to remain in their homes. When adult children are involved, and they try to assist, they often meet resistance. It is uncomfortable for a lot of reasons. How do you do this when it comes up for you?The ConflictElders can think they’re fine when they’re notGetty ImagesThe parent, step-parent, grandparent or other is often a symbol of authority for the adult children. They looked up to, respected, or sometimes feared the elder in question. One’s own emotions get in the way of trying to assume authority, often over…

Stocks opened modestly higher Wednesday, though the enthusiasm quickly faded. A continued sell-off in artificial intelligence (AI) heavyweights and worries over a potential government shutdown weighed on sentiment, while some end-of-quarter profit taking likely created pressure on the three main indexes.At the close, the blue chip Dow Jones Industrial Average was down 0.4% at 46,121, the broader S&P 500 was off 0.3% at 6,637, and the tech-heavy Nasdaq Composite was 0.3% lower at 22,497. Still, the three indexes are poised to end the quarter and the month with impressive gains.Materials was the worst performer of the 11 S&P 500 sectors,…

Key Takeaways Amazon is ending a program called Prime Invitee that allowed Prime members to share their free shipping benefit with someone outside their home.The program will be replaced with Amazon Family, with Prime shipping only able to be shared between a few accounts with the same primary residence.Amazon joins Netflix and Costco, among others, that have made efforts in recent years to encourage people to sign up for their own subscriptions instead of sharing benefits. Amazon is joining the wave of companies pushing consumers to get their own subscriptions and not share benefits, as the online retail giant recently…

KEY TAKEAWAYS The median student loan borrower has cut $1,590 out of their typical yearly spending since student loan repayments resumed in 2023.The majority of borrowers have been able to manage the hit to their budget. But more borrowers are behind on their payments than usual. Student loan borrowers are cutting back spending in order to restart loan payments, according to new data. Most are successfully managing their loans, but more borrowers than usual are struggling. During the COVID-19 pandemic, the Department of Education paused all student loan payments. When payments restarted in October 2023, according to research from the…

Zillow Group Inc ZG Z shares are moving higher on Wednesday following the release of a robust new residential sales report from the U.S. Census Bureau and the Department of Housing and Urban Development. Here’s what investors need to know.What To Know: The report revealed a surge in new single-family home sales in August, which rose to a seasonally adjusted annual rate of 800,000. The data shows a substantial 20.5% increase from the previous month and a 15.4% jump from August 2024.The strong sales growth suggests a healthy and active housing market, a key driver for Zillow’s business. Higher transaction…

Good morning.1 I would like to thank the Kentucky Bankers Association for the opportunity to join you again for your annual convention, this time with an important difference. Earlier this year, the President nominated, and the Senate confirmed, me as the Fed’s Vice Chair for Supervision. It’s the first time someone with community banking experience has served in this role, and I am working to make sure that the Federal Reserve is addressing the issues I have discussed with you and other community bankers over the past nearly seven years that I’ve been a member of the Board of Governors.…

In-brief analysis September 24, 2025 Data source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), September 2025Note: Total distillate inventories include distillate fuel oil, renewable diesel, and biodiesel inventories. In our September Short-Term Energy Outlook, we forecast U.S. total distillate inventories to end 2025 and 2026 at lower levels than previous years because of significant inventory draws in 2025, strong export demand, and domestic production declines stemming from refinery closures. In the weeks since the publication of this forecast, U.S. distillate inventories have increased substantially, but they remain relatively low. Distillate fuel…

Florida’s property insurer of last resort Citizens Property Insurance Corporation is anticipating lower reinsurance costs in 2026, as its policy count and exposure-base has continued to decrease meaning less limit is likely to be needed, while there is an expectation of improved market conditions due to softening that may persist.During a lengthy set of committee and board meetings held today, the leadership and staff of Florida’s Citizens Property Insurance Corporation discussed the successful depopulation trends that are continuing, with private market insurers taking on a growing number of property insurance policies. We reported back in June that Florida Citizens has…

Four of last month’s most expensive sales were in coastal Florida, and one was a Beverly Hills estate previously home to billionaire real estate developer Rick Caruso.  A Beverly Hills estate previously owned by billionaire real estate magnate and 2022 Los Angeles mayoral candidate Rick Caruso was the most expensive home sale of August, fetching $48 million. It’s followed by a new-construction mansion in Greenwich, CT, which fetched $44 million.  Also among last month’s most expensive sales: a coastal compound in Miami Beach previously owned by Rosie O’Donnell, and an oceanfront Kauai property that Julia Roberts once called home.  All…