Artificial intelligence (AI) is revolutionizing financial management, with nearly 47% of Americans now more comfortable using AI for financial decisions, according to a new Empower survey. Tools like Chat GPT, Gemini, and Microsoft Copilot are increasingly relied upon for everything from retirement planning to debt management. Users—including 6% of boomers, 18% of Gen X, and 30% of millennials and Gen Z—turn to AI for insights on savings and financial strategies, often asking about the “4% rule” for safe retirement withdrawals. However, experts caution that this guideline may be outdated. Security concerns are also significant, as around 4.5% of AI prompts could inadvertently expose sensitive personal information. While AI can serve as a helpful starting point, it should not replace professional financial advice. Users are advised to approach AI-generated insights with caution, ensuring thorough verification before making any financial decisions. Always consult a human expert for tailored guidance.
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