Use This 5-Step Summer Savings Challenge to Get Ahead by Fall
Kiplinger’s June 2026 “Summer Savings Challenge” outlines a five‑step plan to grow savings during the high‑spending summer months. The guide advises picking a concrete goal, cutting a recurring expense, funneling cash‑back and windfalls, automating weekly transfers through Labor Day, and tracking progress with budgeting tools. Projected weekly contributions of $10‑$100 can generate $200‑$2,500 by Thanksgiving, positioning households for a stronger financial footing in the fall. The approach emphasizes intentional spending without sacrificing summer enjoyment.
Ask the Tax Editor, June 12: Tax Basis in Inherited Property
Joy Taylor, editor of The Kiplinger Tax Letter, answered five common questions about tax basis in inherited assets. She confirmed that heirs receive a stepped‑up (or stepped‑down) basis equal to the fair market value at the decedent’s death for assets...
School's Out — and Summer Is the Perfect Time to Reassess Your 529 Plan
Summer offers families a natural pause to evaluate 529 college‑savings accounts as new legislation expands their purpose. The One Big Beautiful Bill Act of 2025 and a 2026 rule increase the K‑12 qualified‑expense limit from $10,000 to $20,000 per child...
Nasdaq Leads as Chip Stocks Bounce: Stock Market Today
The Nasdaq Composite jumped 0.9% to 25,929 on Monday, buoyed by a sharp rebound in semiconductor shares, while the S&P 500 rose 0.3% to 7,405. The Dow Jones Industrial Average slipped 0.2% to 50,786, lagging the tech‑heavy indexes. Intel (+11.2%) and...
Wealth Wise: Should We Bankroll Our Son's $180K Law School Tuition Even Though We're Retired?
Retired parents facing a $180,000 law‑school bill for their 25‑year‑old son must decide whether to fund it with a low‑interest family loan or pay tuition directly. Federal loan limits cap at $200,000 total and private family loans are ineligible for...
Should You Buy a Beach House? The Truth About Vacation Homes, From a Financial Planner
Buying a vacation home often costs more than buyers anticipate, with higher mortgage rates, property taxes, and insurance premiums—especially in coastal markets. Potential rental income can offset expenses, but many cities now impose strict short‑term rental licensing or outright bans,...
The Truth About Annuities: The Question Isn't 'Are They Good or Bad?' It's 'Are They Appropriate for You?'
Annuities remain a polarizing component of personal finance, offering guarantees and income streams but also imposing liquidity constraints and higher taxes. The article breaks down the four main types—fixed, fixed‑index, income, and variable—explaining how each aligns with different risk tolerances...
Your Alma Mater Wants to Sell You Insurance. Should You Buy It?
Colleges increasingly partner with insurers to market a suite of alumni‑only policies, ranging from life and auto to pet coverage. While these programs tout exclusive discounts, the underlying contracts are typically with third‑party carriers and may not beat standard market...
I'm a Financial Adviser: This Is the Discipline You Can Apply to Your Portfolio to Save Yourself a Lot of...
A majority of Americans worry about outliving their savings, and hidden investment costs are a major, often overlooked, driver of that risk. The article breaks down layers of fees—expense ratios, cash drag, turnover, and third‑party manager charges—that can total around...
My Husband and I Are Concerned About Losing Our Jobs and Want to Make Sure We're Covered. How Much Should...
Building an emergency fund is a core pillar of personal finance, especially for couples who could face simultaneous job loss. Experts recommend saving three to six months of essential expenses, extending to nine‑12 months for self‑employed or specialized workers. High‑yield...
Nasdaq Falls 1,121 Points on Fear of an AI Bubble: Stock Market Today
The Nasdaq Composite plunged 1,121 points, closing at 25,709 as the AI rally lost steam following weak guidance from Broadcom and a broader sell‑off in tech stocks. Nvidia and the Roundhill Magnificent 7 ETF also posted steep losses, while the S&P 500...
Ask the Tax Editor, June 5: Tax Rules for Landlords
The Kiplinger Tax Letter addressed five common landlord tax questions. It clarified that long‑term rental sales do not qualify for the $250k/$500k home‑sale exclusion and that depreciation recapture is taxed at up to 25%. Heirs receive a step‑up in basis...
What This Year's Biggest Medicare Changes Mean for You
Medicare faces its biggest 2026 shifts yet, with Part B premiums surging 9.7% and a modest 2.48% reimbursement boost for Medicare Advantage plans. The Inflation Reduction Act enabled direct price negotiations for ten Part D drugs, cutting out‑of‑pocket costs by roughly half...
Where Do DIY Investors Stumble Without Professional Help? A Wealth Adviser Weighs In
DIY investors now have unprecedented market access, yet many lack the integrated financial planning that CFA‑ or CFP‑qualified advisers provide. Professionals combine asset allocation, tax‑loss harvesting, Roth conversions, and withdrawal sequencing into a cohesive strategy, reducing reliance on recent market...
Dow Slides 620 Points as Rally Pauses: Stock Market Today
The Dow Jones Industrial Average slipped 1.2% to 50,687, erasing about 620 points after five straight days of record closes. West Texas Intermediate crude jumped 2.5% to $96 per barrel as U.S. and Iranian forces exchanged attacks, keeping the Strait...