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Can AI help non-savvy people plan for financial freedom?
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Nearly one-third of people who have used generative AI for financial advice said they sought its help saving for retirement.
ST PHOTO: GAVIN FOO
Kailyn Rhone
Ms Caitlyn Yingling had a US retirement account but never looked at it. When she did, after listening to a personal finance podcast, she was stunned. As far as her investment allocations were concerned, the 32-year-old had already retired – 10 years ago.
A closer look at her account, housed at Fidelity, showed why. Her retirement savings, which were in a target-date fund – a more conservative investment fund designed to automatically adjust risk as someone ages – were invested for someone who would have retired in 2015.
