😊 RetireHub Daily—Can I use AI, too? 05/28/2024

It is Tuesday, May 28th, 2024

Dear RetireHub Daily Readers, we hope you enjoyed the long weekend. We’re back with deals, tips, and trivia and a little Tech Tuesday theme, discussing AI and how it might be useful—if we use it safely.

On this day in 1937, Volkswagon was founded. Translated as the “people’s car”, VWs were supposed to be an affordable options for Germans. However, with the outbreak of the war, cars were needed for the German War Machine, and no civilians received a car until much after the war ended.

How well do you know your German cars? Test your knowledge in our trivia at the end of this newsletter.

Deal of the Day

Keep your private data out of criminals' hands

Spam, scams and fraud start with your personal data being sold. Data brokers are profiting from your home address, SSN, phone number — and other personal information that doesn't belong to them. Incogni scrubs it from the web, confronting the world’s data brokers on your behalf.

• Protect your data and privacy with Incogni, now with a 50% discount.

RETIREHUB POLL

AI—can I use it?

AI is everywhere in the news these days. Heck, it’s probably written some of the articles you’ve read online. While debates rage about how ethical the technology is, the fact is, Pandora’s box is open. And it turns out that these tools can be quite useful (so long as you remain a little skeptical).

Here’s a few ways to safely enjoy AI tools.

• AI is great for summaries, but check your facts—AI can get you information faster than a human can. But, like humans, it sometimes makes mistakes. Use AI tools as a guide, not advice.

• And it’s useful for all sorts of things—We just put the following sentence into Chatgpt: “Imagine you are a financial advisor. I’m planning my retirement, have $150,000, no mortgage, and no other debt. Create a summary of my options.” And it came up with some great guidance as a starting point. Also works for travel tips, legal guidance, recipes, and just about anything else you can think of.

• Don’t share sensitive information—AI isn’t actually your doctor or lawyer. There’s no need to share your social security, credit card number, or any other personal info with AI.

• It can also just be entertaining—You can ask AI to tell you jokes, create stories, even draw whatever’s in your imagination. Sometimes it’s a little whacky, but it’s interesting to watch a machine create something right in front of your eyes.

If you’re looking for a simple way to start using AI, we’ve added an AI-powered assistant on our website! Simply click the 🦉 owl icon in the bottom right corner, and start asking about anything you like! Try it now at retirehub.org

Have you used AI at all? Reply to this email and tell us about it!

Yesterday’s Poll Results - Are you content with your retirement savings or are you trying to grow them?

📈 50% of RetireHub Daily readers are actively growing their retirement savings. Of those who aren’t, 13% are interested in doing so, 15% aren’t interested in doing so, and 22% are worried about their retirement savings. We’ll do what we can to help you with finance tips every Money Monday.

Thanks to everyone who voted and commented!

Our Favorite Comments:

We love hearing and sharing comments from our polls! While we can’t publish them all, we do read and appreciate every comment.

• “I put my 401K into an investment firm & my money has been growing. ”

• “Home upkeep eating up savings.”

• “I have a pension and social security so I have enough to sustain me.”

• “I have been saving for when i retired for years.One thing my Father taught us.Every pay check put some in saving. I am now retired and doing well.”

WHAT WE’RE READING

SENIOR LIVING NEWS

3 Scenarios When “Fake It Till You Make It” Works

Has something happened to make you lose confidence in your ability to navigate life situations? It’s time to give yourself a dose of self-confidence.

faking it is not about faking ability, it’s about internal behavior or thinking. It’s how you picture yourself, talk to yourself, and how you can change the outcome of your life by changing a few of your internal views or posturing of yourself.

• Read the Article

Budgeting for the 4 Financial Phases of Retirement

Once you retire, it becomes pretty clear that there’s more than one phase of retirement. Here are some tips to help you set a budget and manage it from your early through your late retirement phases.

Key Takeaways

•Budgeting is an important tool in ensuring your income lasts throughout all of the phases of retirement.

•Planning will start in pre-retirement, but you’ll really get a feel for your spending in the early phase.

•By your 70s, you’ll likely have left the workforce for good and will be preparing to tackle late retirement, which includes finalizing estate planning.

• Read the Guide

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(Please support our sponsors — they help keep RetireHub going!)

Tech Tip of the Day

Unplug when charged—batteries for laptops, phones, and tablets will last longer if you don’t keep them plugged in all the time. In fact, they stay healthy for longer if you keep them charged between 20 - 80%. Leaving them charging overnight will actually reduce the battery life. Charge your device in the evening before bed instead of leaving it overnight (just make sure it isn’t dead before bed in case of emergencies).

GOOD NEWS OF THE DAY

Endangered Pupfish Found Only in a Death Valley Cave Springs Back to Life in Numbers at 25-Year High

The Devils Hole pupfish holds the official record for the smallest habitat of any vertebrate species. That’s because it lives in a single limestone cave in a Nevada wildlife refuge in Death Valley and nowhere else.

Now, the latest population survey shows that the number of fish has reached a 25-year high, with over 200 individuals counted after spring breeding, officials in Nevada report.

…Read More

Trendy ‘Libraries of Things’ Let You Borrow All Kinds of Stuff–Rather Than Buying it

A new retail phenomenon is addressing concerned consumers who are looking to escape spending for waste creation by developing a concept called a “library of things” (LoT) where people can come and rent just about anything, from baby clothes to air fryers.

There are over 2,000 LoTs located in the English-speaking world and Central Europe, and some have been in operation since 1976. Half of them though only sprang up in the last five years.

• …Read More

RETIREHUB TRIVIA

Our goal is to grow RetireHub to over 1 million members — with this, we’ll have the leverage to get even better discounts from the likes of Netflix, Amazon, and others.

To help incentivize referrals, we’re giving away 12 months of your favorite streaming service for free! Simply forward this email to a friend (and cc [email protected]) and you’ll be entered into the drawing on June 12th! (Maximum $20/month streaming service).

Each additional friend you send the email to will count as an additional entry (25 person max).