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People in this thread are massively underestimating the level of financial illiteracy in the general population. We've had multiple people try to convince us to set up bank accounts for our kids, so that they could accumulate interest over 18 years. More that tried to convince me to gamble on random pump and dump shitcoins. More still that talked about "investing" in random collectables like Funko Pops or Pokemon car…
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3% is becoming more common as of the last few years, at least in the US. I know several banks off the top of my head that offer 3.5% or higher (and more if you are a new customer) for their savings accounts. I would persuade people who use banks that haven't moved on from near-zero APY to move on themselves.
Yeah just off the top of my head I’d expect Discover and AmEx to be around 3.5%. Apple is at 3.4%. I moved away from near 0% savings accounts more than 20 years ago, it’s amazing to me it’s still so common. You don’t have to try very hard or go wrong to someone you’ve never heard of to get a good rate.
But even then, yes some banks still offer no or 0.5% accounts.. because they can, and many people can't be bothered to figure out a better option, or "trust" there bank and don't want to move. (or the bank has high interest account, but make it complicated to use)
People in this thread are massively underestimating the level of financial illiteracy in the general population. We've had multiple people try to convince us to set up bank accounts for our kids, so that they could accumulate interest over 18 years. More that tried to convince me to gamble on random pump and dump shitcoins. More still that talked about "investing" in random collectables like Funko Pops or Pokemon car…
> We've had multiple people try to convince us to set up bank accounts for our kids, so that they could accumulate interest over 18 years. I don’t really see the problem here? Why wouldn’t you want to set up financial accounts for your children and invest in them?
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"Here is what better advice looks like: don't buy/sell any securities unless you, personally, know exactly how and why you're going to profit from it." For people like Warren Buffett, that's his full-time job—figuring out how and why he is going to profit. Me? I'm not going to know shit, so I will "3. Never buy or sell an individual security." "…save your money and invest in one or more proven, profitable, Great Depr…
The people who were in cash bought land for pennies on the dollar and made a fortune.
So basically the wiki of r/personalfinance
AI financial advice encourages people to save more, diversify their investing, and take on less risk as they age. sounds like pretty generic advice. I thought they meant it gives good stock picks or trading strategies. That would be noteworthy. This is just "meh".
I have to assume that there are hedge funds or someone like that, already investing extensive effort into trying to get AI to beat the market. I assume that it can't, but if I'm wrong then whoever figures this out stands to get extremely rich.
Large Language Models in equity markets: applications, techniques, and insights, Frontiers in Artificial Intelligence, A. Jadhav and V. Mirza, 27 August 2025, DOI: 10.3389/frai.2025.1608365.
Personally, I am using LLM, mostly for analyzing and shortlisting companies for in-depth analysis, for investing in Japanese equity market for over a year with relatively decent results.
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LFSPA. Not risk free, but not volatile either. Although even that underperforms compared to an index fund.
Index funds are not risk free! We have had a solid 15 years and everyone forgot that there are decades of declines or stagnation.