The U.S. government plans to crack down on its $40 trillion debt — but brace for a ‘wrenching time’ ahead

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a recent survey finds that women who work with a financial advisor are approximately 60% more likely to report that they feel confident in managing their finances compared to those who don’t, suggesting a valuable…

On July 1, several media outlets reported that Meta Platforms (META +6.16%) was forming a new business unit, internally dubbed “Meta Compute”, to sell its excess AI cloud capacity to third-party customers. Meta will reportedly sell both its raw GPU computing capacity and remote access to its infrastructure to companies so they can run their…

The Securities and Exchange Commission isn’t just asking registered investment advisors whether they use artificial intelligence. Examiners increasingly want firms to prove they know exactly how employees are using it—and who is watching them. Recent SEC examination requests have sought details about firms’ internal AI oversight, including whether they have AI committees and…

Millions of U.S. private sector workers still lack access to a workplace retirement savings plan, but one reason for the coverage gap may not be quite so bad as is commonly thought, according to a new issue brief from the Boston College Center for Retirement Research. Only about half of U.S. small employers—those with fewer than 50…

Most $1 million-plus households spend between $70,000 and $120,000 a year in retirement. Federal Reserve, JPMorgan, and Boldin’s own planning data all converge on this range for what millionaires spend in retirement, and it appears almost everywhere you look. Keep this in mind the next time you see an ad claiming some huge share of…

Elon Musk and Sam Altman criticized each other in new posts on X, highlighting the billionaires’ long-standing tussle over OpenAI’s evolution. Musk and Altman helped to start OpenAI in 2015 as a nonprofit artificial intelligence research lab alongside a band of engineers and scientists. In 2018, Musk left OpenAI’s board after donating tens of millions…