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ChatGPT for financial advice? Investors turn to alternative sources

By Anson Jones

Consumers brace for recession, but turn to alternative sources for financial advice - family, friends, online resources, prayer and ChatGPT, which they say will provide better financial advice than a human advisor in the next five years, says a new survey.

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Research

'Anti-ESG funds' are now a thing (and peaked at $376M in Q3 2022)

Research

Delivering lifetime income: There's more than 1 approach for 401(k) plan participants

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Retirement Trends Stories

July 14, 2023

New student loan plan: Biden to forgive $39 billion for 800,000 borrowers

The new plan counts more payments toward a forgiveness program that kicks in when borrowers have made either 20 or 25 years worth of payments – and the administration will begin notifying eligible borrowers Friday.

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July 14, 2023

Delayed: 25% of pre-retirees push back retirement, 15% unsure if they'll ever retire

The majority of pre-retirees said inflation poses the greatest immediate challenge to their portfolio over the next year, while a recession is also a factor that poses immediate challenges, according to the Nationwide Retirement Institute.

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July 12, 2023

Earned wage access: Is it the answer to improving employee retention & attendance?

Boosting employee morale and productivity are excellent reasons to introduce EWA in a comprehensive financial wellness package that should also include financial literacy, credit resources, and budgeting tools.

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July 11, 2023

Multi-year guaranteed annuities soar, while variable annuities sink in Q1: Here's why

The multi-year guaranteed annuities boom helped produce a 42% overall increase in total sales in spite of a 22% decrease in sales of variable annuities, according to survey data from Wink.

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July 10, 2023

SECURE 2.0: Small, medium businesses have 'limited understanding' of new law

Only 41% of small business owners (and 69% of mid-size owners) are aware of emergency savings opportunities for employees provided by SECURE 2.0, while even fewer know about student loan matching options.

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July 10, 2023

Biden's newest student debt relief plan will likely face legal challenges too

President Biden's new SAVE plan is an income-driven repayment plan that will cut borrower's monthly payments in half, but it could still face legal attacks as it relies on the Higher Education Act, which governs financial assistance.

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July 07, 2023

Financial wellness coaching: How tailored solutions can help reduce employee debt

With financial stress higher than in previous years, strategies such as coaching and AI-guided resources can help workers reduce their debt — who in turn can be advocates for better financial practices, says a new report.

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Retirement Trends

Top Retirement Trends Stories

ChatGPT for financial advice? Investors turn to alternative sources

'Anti-ESG funds' are now a thing (and peaked at $376M in Q3 2022)

Delivering lifetime income: There's more than 1 approach for 401(k) plan participants

Recommended Just For You

Retirement Trends Stories

New student loan plan: Biden to forgive $39 billion for 800,000 borrowers

Delayed: 25% of pre-retirees push back retirement, 15% unsure if they'll ever retire

Earned wage access: Is it the answer to improving employee retention & attendance?

Multi-year guaranteed annuities soar, while variable annuities sink in Q1: Here's why

SECURE 2.0: Small, medium businesses have 'limited understanding' of new law

Biden's newest student debt relief plan will likely face legal challenges too

Financial wellness coaching: How tailored solutions can help reduce employee debt