03.05.24 Carrying A Mortgage Over Age 65 / AI Chatbot & Search Warning

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 5 March 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

More than 40% of homeowners carrying a mortgage right now are over age 65. Clark discusses the implications of this obligation in terms of interest rates, loan term lengths and home prices. Also, how much can you trust a website’s chatbot? Air Canada recently got into trouble over its AI bot. What you need to know about AI in the information space, including a NEVER rule about searches. Having A Mortgage At Age 65+: Segment 1 Ask Clark: Segment 2 AI Chatbot & Search Warning: Segment 3 Ask Clark: Segment 4 Mentioned on the show: NYT Keeping a Mortgage After 65: A ‘No Brainer’ or a Big Risk? Best Cell Phone Plans in 2024: The Cheapest Plan for Every Need Term Life vs. Whole Life Insurance: Understanding the Difference What Is Term Life Insurance? How To Buy Term Life Insurance in 7 Easy Steps Best Investment Companies for Investors in 2023 Best Auto Insurance Companies and Some of the Worst Why You Need To Re-Shop Your Car Insurance Right Now Homeowners Insurance Archives - Clark Howard New York Post: Air Canada ordered to refund passenger after ‘misleading’ conversation with site’s AI chatbot 5 Money Tips To Know Before You Travel Abroad What’s the Best Way To Exchange Dollars for Foreign Currency? Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:16.0	Today's episode, I want to talk about something that makes me very nervous.
1:21.0	The percentage of Americans who are past 65 who are still carrying a mortgage.
1:28.8	And wow, we got to talk about ChatBots, a form of AI that is maybe not so accurate.
1:39.5	There was a celebrated case recently involving Air Canada that is quite instructive
1:46.4	where it could cost you your money trusting AI but right now I want to tell you new data out from the Housing Research Center that
1:59.2	sometimes I quote from that's based at Harvard University finds that more than 40% of homeowners past
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