How to write a good AI prompt for personal finance
Nurphoto | Nurphoto | Getty Images Many Americans are turning to artificial intelligence for financial advice. But getting good or bad advice depends a lot on how well users write their instructions — or prompts — to AI platforms. “I think that there’s a real art and science to prompt engineering,” Andrew Lo, director of […]
How Gen Z investors can cope with stock market volatility
Specker/vedfelt | Digitalvision | Getty Images Amid the U.S. war with Iran, some young investors have gotten their first taste of market volatility. “An early decline can make the market feel unusually dangerous when volatility is a normal part of long-term investing,” said certified financial planner Douglas Boneparth, president and founder of Bone Fide Wealth, a […]
How to ensure your federal retirement benefit is correct
Over 33,000 retirement claims were processed at the Office of Personnel Management’s Retirement Operations Center in January and February this year, according to the agency. The digital claims that were processed in February were finished in 34 days, and paper claims were processed in 95 days. This processing time begins when OPM receives your application […]
Sequence of returns risk explained
Ciara Houghton | Moment | Getty Images If you’re within a decade of retirement, the current stock market volatility may be a good reminder of a key risk that lies ahead for your nest egg. While stocks tend to offer the best opportunity for long-term growth despite their ups and downs, a persisting market downturn […]
How investors can approach markets’ ‘choppy, bumpy ride’: analyst
Trevor Williams | DigitalVision | Getty Images The stock market rallied on Tuesday, the last trading day of March, inspired by hopes for an end to the Iran war. But it was not an easy month for investors. In March, the S&P 500, Dow Jones and Nasdaq indices each fell around 5% — capping off […]
Only 14% of Workers Achieve This 401(k) Benchmark—Here’s How to Set It as Your Target
Only 14% of participants max out their defined contribution retirement plans (such as 401(k)s), a Vanguard study shows. High-income earners are more likely to max out their 401(k)s, but even if you have a modest income, you can reach this goal. The power of compounding returns means you have a strong incentive to save as […]
How to make the most of FERS, Social Security and your TSP
From FY1970 to FY1985, the number of people receiving federal civil service annuities rose from fewer than 1 million to nearly 2 million, an increase of 105%. Between FY1985 and FY2022, civil service annuitants rose by 767,000, an increase of about 39%. In FY2022, all CSRS employees were 55 or older, compared with 32% of […]
How to Stick to Your Retirement Budget in 2026
4. Use a benefits checkup tool Regardless of your financial situation, it’s smart for older folks to educate themselves about any benefits for which they might qualify, Waterman says. You can research your benefits by using the council’s free online tool, BenefitsCheckUp. Americans leave more than $16 billion in government benefits for which they qualify on […]
How to claim money from ‘Trump accounts’ program
Tech CEO Michael Dell and his wife Susan pledged Tuesday to contribute $6.25 billion to so-called Trump accounts, a type of tax-advantaged savings account for children. The commitment will expand access to seed money for eligible children too old to qualify for the $1,000 grants that are set to come from the Department of the Treasury. With the additional funds, […]
How to talk to your adult children about their inheritance
Momo Productions | Digitalvision | Getty Images Older Americans really don’t like talking to their adult children about inheritances, a new study suggests. About two-thirds — 68% — of parents age 55 or older with at least $500,000 in investable assets haven’t told their grown children what they’ll inherit or if they’ll inherit anything at […]