In other news, OpenAI's GPT-4 is reportedly outperforming humans in analyzing financial statements and trading strategies. Tech billionaire Sam Altman has pledged to give away most of his wealth following recent controversies. Meanwhile, Denmark may have a solution to the US housing market's interest-rate problem, and WeWork co-founder Adam Neumann has expressed skepticism about the company's post-bankruptcy plan.
Key takeaways:
- There is a significant gap between how much millennials expect they need to retire ($1.7 million) and what they've roughly saved so far ($63,000).
- Only 62% of Americans between the ages of 35 and 44 had a retirement account, according to a 2022 Census Bureau survey.
- Many millennials are struggling with homeownership and student loans, which could impact their retirement savings.
- High income doesn't always equate to financial security, and even those further up the economic totem pole aren't necessarily saving for the future.