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Technological tools optimize operations, enhancing efficiency and allowing businesses to do more with less. These innovations empower the companies that use them to give their clients better-quality service at a lower price.

A recent report from Northwestern Mutual reveals that many millennials are facing a significant retirement savings gap. The report found that the average retirement savings socked away by millennials is $62,600, which is not a paltry amount considering the youngest members of the generational group are still in their late 20s. 

Retirement typically ushers in a time of transition for investors. Retirees become more risk-averse than they were in the early phases of investing, and with good reason. They are counting on their retirement investments to provide a stable income stream. Those who rely too heavily on the stock market—rather than establishing a diversified portfolio with less risk—can have a hard time achieving stability.

Some studies suggest that 45 percent of the Baby Boomers have no retirement savings, while 28 percent of those who have started saving have less than $100,000 put away. Consequently, many Americans now living in retirement or approaching that season are looking for ways to cut back on their expenses.