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AI has become increasingly popular in recent years, and with the advent of ChatGPT, it seems like it can do almost anything! But can AI help you plan your retirement? The answer is that while AI can be a powerful tool for research, it doesn’t replace the need for a human financial professional who understands your unique goals. Let’s look at how AI can be a helpful tool in some ways and also examine its limitations. Understanding the Limitations of

As the baby boomer generation moves into retirement, society is undergoing a significant transformation. Termed the “Silver Tsunami,” this demographic shift has far-reaching implications for both retirees and the economy as a whole.1 In this blog post, we delve into the latest retirement statistics for the baby boomer generation, exploring the trends, challenges, and opportunities that accompany this seismic demographic change. The Baby Boomer Generation: A Demographic Overview The baby boomer generation, born between 1946 and 1964, represents a substantial

U.S. Markets Stocks posted solid gains in the first quarter as enthusiasm about artificial intelligence, signs of a soft landing, and dovish talk from the Fed buoyed investor confidence. For the quarter, the Dow Jones Industrial Average rose 5.62%, the Standard & Poor’s 500 Index gained 10.16%, and the Nasdaq Composite picked up 9.11%.1 Rocky Start in January Stocks saw modest gains in January as positive economic data (retail sales, gross domestic product [GDP] report) and upbeat Q4 corporate reports

Successfully saving for short-term and long-term goals is an important part of any financial strategy. Since 2007, every April, we have celebrated America Saves Week, which is dedicated to helping people save.  Let’s learn more about what America Saves Week is and its themes for this year. We’ll also share tips and tricks to help you save for what matters most.  What is America Saves Week?  America Saves Week is an annual celebration that encourages Americans to take charge of

In an era dominated by digital transactions and online financial activities, protecting your personal information is more crucial than ever. If you suspect that your personal information or identity was stolen, freezing your credit is one way to protect yourself, as it restricts access to your credit report.  Here, we will delve into the reasons for freezing your credit, how to freeze your credit, and the benefits of this powerful financial safeguard.  Understanding Credit Freezes  A credit freeze is a

In the digital age, where technology has revolutionized the way we manage our lives, safeguarding our financial documents has never been more critical. From tax returns and bank statements to investment portfolios and insurance policies, our financial well-being relies on organized and secure documentation. Here, we share a comprehensive guide on what financial documents you should back up and why these backups are crucial for your financial future. Personal Identification Documents Passport and Driver’s License Copies of your passport and

Credit cards have revolutionized the way we manage our finances. However, this convenience comes with its own set of risks, including credit card fraud. As technology advances, so do the tactics employed by cybercriminals to steal sensitive financial information. According to Bankrate, in 2021, the FTC dealt with nearly 390,000 reports of credit card fraud, with US losses projected to reach $165.1 billion in the next decade.1 Protecting yourself from credit card fraud is vital for financial security and peace

Achieving financial independence is a goal that almost everyone has. It brings you the personal freedom to do what you want. For most people, however, debt is a significant roadblock. In fact, the average adult has around $103,358 in debt.1 This includes all types of consumer debt, such as credit cards, personal loans, student loans, mortgages and auto loans. The good news is that there are strategies to pay down debt and work toward financial independence. How can you do this?

January is Financial Wellness Month, which means it’s a good time to remind people to plan and update their financial strategy.  Now is a great time to connect with your financial professional to discuss your financial situation and aspirations for the future. You should also assess if your financial strategy needs any adjustments or changes based on your lifestyle.  Defining Financial Wellness  The first thing to do is define what “financial wellness” means for you. This varies drastically from person

U.S. Markets  Stocks moved higher in the final three months of the year as bond yields trended lower in growing anticipation of a potential Fed easing.  For the three months ending on December 31, the Dow Jones Industrial Average gained 12.5% while the Standard & Poor’s 500 Index picked up more than 11%. The Nasdaq Composite, which led throughout 2023, led again, tacking on nearly 14%.1  A Shaky Start  As satisfying as the fourth quarter’s results were, the quarter began