Artificial Intelligence All-in-One For Dummies
by Chris Minnick, John Paul Mueller, Luca Massaron, Stephanie Diamond, Pam Baker, Daniel Stanton, Shiv Singh, Paul Mladjenovic, Sheryl Lindsell-Roberts, Jeffrey Allan
Chapter 6
Retirement and Estate Planning
IN THIS CHAPTER
Planning your retirement with AI’s help
Asking AI about estate planning
Although retirement and estate planning should be on every adult’s radar screen, it is most “top of mind” for those folks past 50 (give or take a decade). Between the two, estate planning is the more complicated and daunting for many of us. In this chapter, I show you that (fortunately) AI is a powerful and welcome tool that makes both pursuits much less daunting.
Digging into Retirement Planning
Whether you’re planning your retirement when you’re 20 years old, 40, 55, or beyond, part one of the plan is quite simple: Spend less than you earn, invest/save the difference, rinse, and repeat. Part two of your approach is this: Figure out your income needs at the age you are hoping/planning to retire so you can accrue enough assets to generate that needed income. The following sections can help you get started.
Your starting point: A personal balance sheet
To get rolling with your retirement planning, assessing what you currently own (assets) and owe (liabilities) is obviously an essential first ...
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Be sure to consult a professional as you plan your retirement.