AI Isn’t Replacing Retirement Planning—It’s Changing It Main segments: Market Update

TPIR Ep 129 Full Show.mp3: Audio automatically transcribed by Sonix

TPIR Ep 129 Full Show.mp3: this mp3 audio file was automatically transcribed by Sonix with the best speech-to-text algorithms. This transcript may contain errors.

Speaker 1:
Now, what if I told you that one of the biggest retirement planning decisions you make over the next five years has nothing to do with your investments? It could actually be whether or not you're ready for artificial intelligence. Well, today we're going to explore why AI is changing careers and what that means for your retirement.

Speaker 2:
Welcome to Take Pride in Retirement, the podcast dedicated to helping members of the LGBTQ plus community protect and grow their hard earned money. Get set for a show full of education and insights with your host and advisor, Matt McClure. We recognize every family is unique. The goal of the show is to help you achieve financial freedom, so you and your loved ones can have the retirement you've always dreamed of, a retirement you can take pride in. No matter who you are, where you're from, or who you love. So now let's start the show. Here's Matt McClure.

Speaker 1:
Well, hello there and welcome to another edition of Take Pride in Retirement. Matt McClure here with you, your host, your advisor, your friend, your pal, and your confidant. And if you are a longtime listener viewer of the show, you might notice something just a little bit different this week. Josh is out sick. So you're stuck with me this time around, but he'll be back next week. So this episode and next you're stuck with just little ol me. So maybe we'll, uh, we'll survive together. Uh, but, uh, despite the fact that Josh is not here, he has given me permission to be just as fabulous as always. So there we go. That's that's what I'll strive for this time around. Now, um, I do have what I do have is a great interview coming up today. Luckily, to sort of fill that gap that Josh leaves behind when he's not here. Um, that is going to be about artificial intelligence, how it's changing college education, how it's changing the workforce. And then we're going to talk about how it's potentially changing retirement, kind of what that means for your retirement as well. And, um, yeah, you know, I mean, there's a lot of talk about AI, of course, these days as it is everywhere.

Speaker 1:
I, the real, this is not AI. So you don't have to worry about that. But you do have to worry about whether a lot of the things that you see are real these days or not. I do talk about that with the person who I interview coming up. And, um, yeah, we'll get into that momentarily first though, like and subscribe. I will not sing it like Josh does, but like and subscribe if you're watching on YouTube. I appreciate that very much. Also, if you are, uh, you know, listening to the podcast, wherever you get your podcasts, you can do that. Subscribe to the podcast, leave us a nice rating and review. Really would appreciate that. All of the above. Pop a comment down below if you're watching on YouTube as well. All of those things really do help the algorithm. They help the show grow, and they help us continue to spread the word about LGBTQ plus retirement planning and the specific and and sort of individualized needs that we have. And as a community, what we can do to address those. Right. That is the goal here. You can also go to take pride in retirement.com. Take pride in retirement.com or call 8552469211. A free consultation can be yours if the price is right and the price is right, because it's absolutely free of any cost or any obligation when you reach out.

Speaker 1:
Once again, take pride in retirement.com. Yes, I am an advisor. I don't just say that to be cute at the top of every show. I am a financial advisor. So, uh, registered social security analysts, certified annuity specialists. Those are my designations as well, in addition to being an advisor. So I can help you with your individualized needs. Speaking of that, all right. Well, I recently sat down with Doctor Antoinette Farmer Thompson or Doctor Tony Farmer Thompson, as she prefers to be called. Uh, listen here, for one idea in particular, AI is not replacing education. It's actually becoming just a bigger part of education. Well, for years it seems like, you know, we've been talking about AI is coming, AI is coming. Well, now it's AI is here. And it's not only changing, you know, our workplaces and kind of our everyday lives, it's also changing higher education. Joining me now to talk more about that is Doctor Antoinette or Tony Farmer Thompson, the president of Strayer University. Doctor Farmer Thompson, thank you so much for being here. Really appreciate your time.

Speaker 3:
Oh, thank you, Matt, for having me.

Speaker 1:
Well, you know, we recently had the sort of graduation season for universities across the country here. And, you know, a lot of places I can't tell you how many times I had seen or heard of, you know, a commencement speaker would mention AI and just get relentlessly booed after even just a mention of AI. Um, how is how is AI kind of changing education and and how is, I guess, education having to change because of AI?

Speaker 3:
Oh, excellent. Excellent question. Well, first and foremost, I will tell you that when I think about AI and higher education, I start with the context of the manpower Group Global Talent Barometer report. I know it's a mouthful, but this was a 2026 report, and it stated that 45% of global workers say they regularly use AI at work. Now that is a 13% increase from 2025. So you can see, based on the trajectory, that AI fluency is not a luxury credential. It is the new literacy. And there will be a significant gap between those that have it and those that do not. It will become the next economic inequality factor throughout the next ten years. And so higher education must be all about preparation, whether we like it or not. And so we at Strayer have embraced it. And I'll give you just a couple of quick examples. Matt, you come in, you're a new student. You're taking a general education. One of the first courses. Say it's a science course. We talk with you and we help you practice how to use AI. From a data analysis perspective, how AI can drive data analysis in real world case studies. And then you go throughout, you continue your journey and you get to what we call the AI applied level. This is where we have concentrations in undergrad and grad IT business, healthcare, MBA, and this is all about workforce integrated projects. How do you apply AI tools to real employer challenges? How do you help employers create solutions? And then there's this final kind of mastery level of AI. So much so that we launched a master's in Agentic AI. And this is all about students becoming architects, managers, and those who govern AI systems. So you see, it's more about leaning into AI than running from it.

Speaker 1:
Yeah. And that's been, I think, a big part of the conversation at least. You know, I just attended a conference out in Vegas, well, a couple months ago now, but that seemed to be kind of the, the running theme about any AI conversations is like, you know, utilize it in, in positive ways, use it as another tool in your tool belt and not be afraid of it. But still, I mean, you know, a lot of a lot of students, a lot of workers, people who are already in the workforce now are concerned about being left behind by AI or their jobs being taken by AI. What would you say to to those concerns? Obviously, you have a lot going on at Strayer University that is helping people prepare for this, this new world that we find ourselves in. But, you know, those are, you know, and those are great. Still, a lot of people, I would imagine, do have those concerns about just sort of being left behind by AI, though.

Speaker 3:
And, and listen, it is right now the greatest I would call. So let me say it this way. Many folks ask, you know, Tony, do you believe in, uh, integrating AI into education? Is it critical? Is it helpful? And I would say the the defining challenge of our generation is not whether AI will transform work, but because it already has. The question is whether or not we are going to be able to get every student, especially working adults, who can't afford to be left behind, whether or not we'll be able to get them fluency tools and credentials that they'll need to transform themselves and then be able to transform their workplace and then their community. So, uh, it's super critical. Uh, people understand they're finally understanding. They need it to reposition themselves and they need it to become practitioners and leaders to drive and shape adoption in the workplace so that they can be personally competitive and more employable and build their economic mobility and so that they can bring true value to their organization.

Speaker 1:
Yeah, absolutely. Well, I'm just about out of time here, doctor, but I just wanted to ask if there was anything else that you wanted to mention that we didn't get a chance to talk about that comes to mind, or perhaps, you know, where our listeners and viewers could go for more information?

Speaker 3:
Yes. I want people to make sure that they are looking at going back for upskilling and reskilling more credentials. And you do that by finding an institution with a proven track record like Strayer that's been around for over 134 years. And you can learn more about how our students won the cyber, the Division two National Security Agency Codebreaker Challenge, and how we're integrating AI into everything we do from a fun perspective at w w w dot dot edu.

Speaker 1:
Very good. Well, doctor Tony Farmer Thompson, president of Strayer University. Thank you so much for taking some time for me. We really do appreciate it.

Speaker 3:
Thank you Matt. Have a great day.

Speaker 1:
One thing that really stood out to me there was that AI fluency is becoming kind of a new basic literacy. You know, I mean, we can debate whether AI should be as big of a part of our lives as it is and all of these things. But that part has huge implications for everyday life, and it has huge implications for retirement planning. The, you know, you have employment and employment being more and more not necessarily driven by AI, but incorporating AI these days, your earning power, if you understand AI, you know, and you can work with it going forward in your career and retirement readiness as a result of that, because if you have a higher earning power after that, uh, you know, connection with your employment and the use of AI in it, if that increases your earning power, which as we were just talking about it very much can these days, then that increases your retirement readiness. You're able to set aside more money for retirement because you are earning more. Now, here's the thing. Income, still the greatest wealth building tool that most people have. Because, you know, it's not like we're going to go out and, and all win the lottery one day. Maybe we will. And maybe that is, um, you know, maybe, maybe that is what you're banking on for your retirement. I wouldn't advise that.

Speaker 1:
But income is going to be the greatest wealth building tool that you have. Chances are, and as long as you remain employable. And again, like we can have the discussion about whether or not, you know, we need more AI guardrails. I, of course, I believe we do. I believe we need a lot more AI guardrails to to just ensure that, you know, we see things that are truthful and real out there and not all AI generated and that kind of thing in so many different aspects of our lives. Uh, opinion alert there, that's what I believe. But how do you use it in a positive way as a tool that can be a very positive thing for you in your life, because it can help you remain employable in an AI world, that can mean larger retirement contributions, as I was saying. And then you can actually, if you are saving more, if you're working more, if you're able to work longer in this AI driven world, then that can make make you delay or allow you to delay, rather, your claiming of Social Security, you know, and then you max out your Social Security benefit in that way because you're not forced to claim early, right? And look, AI is good in a way that because it doesn't, it doesn't force you to become a software engineer.

Speaker 1:
You know, you can focus on sort of practical tools to help increase productivity every day. Kind of make your life easier, right? And so that's what I encourage people to use AI for, is to make life easier, to kind of take some of the busy work out of life and increase your own personal efficiency that way. And if you can use it and know that you can use it and use it in a very particular way that is helpful to you and helpful to your career, then that is just such a positive thing. Um, you know, despite any feelings about AI in general. Um, but, you know, I mean, even beyond the working years, the traditional sort of working years, if you go into your retirement and you say, okay, well, I want to, um, maybe have an encore career, um, maybe I want to start my own business. Maybe I want to do some consulting work. Work for a non-profit, do some, uh, even just part time work or freelance work, that kind of thing in my retirement years. Well, understanding AI and helping increase your efficiency during that time can help you, you know, earn more, be employable longer, and all of that even in your retirement. And you know, especially when it comes to something like starting your own business, boy, talk about, you know, some tools out there that can be helpful to you in again, taking some of the busy work off of you and allowing you to focus on the things that are important in running that business, those personal relationships, the things that AI cannot replace ever is you as a human being.

Speaker 1:
And so use it in the way that you can to make things more efficient. And then, you know, use, uh, your self and, and that thing that AI can't replace. And, and that's you. Ai is never going to replace you as a human being. And a lot of people, you know, in the LGBTQ plus community. We talk about this quite a bit. Have experienced career interruptions, discrimination. They've experienced delayed savings because of those things. I, I know that I have fallen into that category as well. Delayed savings because of a career interruption due to discrimination in the past. And so continued learning can really help maximize your remaining earning years, right. To sort of make up for that lost ground because of those potentially very negative experiences that we've had as LGBTQ plus people. And so you can really help yourself by staying current and up to date on all of these things. And the thing that I would encourage to is a healthy dose of skepticism about AI technology, how fast it's been moving and all of that.

Speaker 1:
And, and approach it with that, a healthy dose of curiosity about it. But I wouldn't necessarily really at all focus on the fear aspect of it. Right. Um, you know, AI today is sort of like learning email way back in the day, you know, or learning how to use a smartphone. Uh, not quite as far back in the day, you know? So it's the latest and greatest sort of technology right now, but it's sort of continuing evolution of where we're going as human beings. And I think that we should, yes, be skeptical of it. Call for more guardrails and, and things like that. But at the same time, embrace it where we can just to use it for our own benefit and not our detriment, if that makes sense. And so, you know, I want you to prepare for your retirement years. And it means not only preparing your finances. That's the thing that we focus on most here. But yes, of course. Prepare your finances, but prepare yourself as well as your portfolio. And so I want you to schedule a complimentary consultation that I have mentioned. Take pride in retirement.com. That's take pride in retirement.com or call 85524692118552469211. Those are the ways you can get in touch with me. The consultation absolutely free. I can do a deep dive into your financial situation, let you know where there might be some shortcomings there.

Speaker 1:
See where you are, what your current plan looks like if you have one. If you don't have one, let's get one in place and then I'll show you. If you do have a plan right now, I'll show you how a new plan that I would recommend could potentially make things much better for you as you approach retirement and how you can have a retirement you can take pride in, and you can generate income that you can actually live on for the rest of your life. So once again, take pride in retirement.com. No charge at all for that consultation. All right. Well, that's going to do it for this edition of the show. Thank you so much once again for being a part of things. Again, Josh is out sick this week. So this episode and the next episode he will not be in. But I do have another interview coming up in the next episode. So again, trying to trying to fill that void that that he leaves behind when he is not here, which is a large one. So I do appreciate you hanging with me today even though he is absent. But thank you again so, so much for listening to the show. And until next time, take pride in yourselves and take care of each other. I'll see you then.

Speaker 2:
Thanks for listening. To Take Pride in Retirement, members of the LGBTQ plus community deserve to work with a fiduciary financial advisor who puts their needs first. To schedule a free, no obligation consultation with Matt McClure and the team at Active Wealth Management, call (855) 246-9211 or go online to take pride in retirement.com investment advisory services offered through Brookstone Capital Management, LLC. Bcm, a registered investment advisor, BCM and Active Wealth Management Incorporated are independent of each other. Insurance products and services are not offered through BCM, but are offered in sole through individually licensed and appointed agents. Matt McClure, an active wealth management are not affiliated with or endorsed by the Social Security Administration or any other government agency.

Speaker 1:
Any examples used are for illustrative purposes only and do not take into account your particular investment objectives, financial situation or needs and may not be suitable for all investors. It is not intended to predict the performance of any specific investment, and is not a solicitation or recommendation of any investment strategy. Registered investment advisors and investment advisor representatives act as fiduciaries for all of our investment management clients. We have an obligation to act in the best interest of our clients and to make full disclosures of any conflicts of interest. Please refer to our firm brochure, the ADV two A item four for additional information.

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