OpenAI’s ChatGPT and Google’s Bard are dominating headlines recently, for their generative capabilities and vast storehouses of information. Each has far more processing power than, say, any individual personal finance writer (ahem).
We asked our AI assistants-slash-overlords these classic personal finance questions including the most affordable place to live, investing suggestions and what college gives the most bang for the buck.
But I think my favorite answer is a more existential one: Can money buy happiness?
The billionaire chairman of Berkshire Hathaway Inc said that while more banks “will go bust,” the industry’s recent problems do not resemble those that helped trigger the 2008 global financial crisis.
“People shouldn’t be worried about losing their money and their deposits they have in an American bank, but the message has gotten very confused,” Buffett, 92, said on CNBC.
What the new Social Security forecast means for current and future retirees
A woman watches the sunset over the Pacific Ocean along Highway 1 near Half Moon Bay, California, U.S., January 24, 2023. REUTERS/Matt Mills McKnight/File Photo
Will Social Security be around when I retire?
That’s probably a fun question for the bots. And despite lots of gloom and doom, I’m optimistic I’ll receive some kind of government payment when I stop working.
Naysayers, however, will point to a recent report, released on March 31, which forecasts that the Social Security retirement trust fund reserves will be depleted in 2033. A separate report found that Medicare’s financial situation improved a bit last year.
But Social Security finished 2022 with $2.7 trillion in reserves, and it can pay full benefits for another 10 years. Still, the program is on course for sharp across-the-board benefit cuts in 2033, absent action by the U.S. Congress.
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