AI financial advice is surprisingly good, especially if you ask right questions
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Re: AI financial advice is surprisingly good, especially if you ask right questions
#2[deleted]
Re: AI financial advice is surprisingly good, especially if you ask right questions
#3In a similar fashion, it will tell you to stay away from many different ways of portfolio construction where you take on smarter risk with diversification.
It will tell you something like TQQQ is not a good long term hold, when it can be perfectly fine especially if you mix in with 60-20-20 with TQQQ-GDE-ZROZ, and DCA and annually rebalance.
AI will tell you "common" things people say, not necessarily smarter things that may be more suitable for you. This is not a bad thing, you just need to know better than to listen everything as a gospel.
Re: AI financial advice is surprisingly good, especially if you ask right questions
#4Half the title is missing, and the missing half is doing some heavy lifting: “– especially if you ask the right questions”
Re: AI financial advice is surprisingly good, especially if you ask right questions
#5I use YNAB (https://www.ynab.com/) for budgeting so I already had all of my financial data in a single source. Exporting the CSVs locally and asking Claude to be my financial advisor legitimately gave me good advice. Not just nagging me to save more (which is always useful), but how to organize my budget categories better, detecting longer term spending patterns I wasn't thinking much about, researching credit card reward programs based on my spending patterns, digging deep into interest and tax rates in way I never bothered etc.
That was the first time I felt like real people's jobs were threatened by AI. Financial advisors and tax accountants better adapt quickly.
Re: AI financial advice is surprisingly good, especially if you ask right questions
#6Until you ask it to juatify your poor decisions, I bet.
Re: AI financial advice is surprisingly good, especially if you ask right questions
#7Human financial advice is surprisingly bad.
Re: AI financial advice is surprisingly good, especially if you ask right questions
#8[flagged]
Re: AI financial advice is surprisingly good, especially if you ask right questions
#9AI 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".
Re: AI financial advice is surprisingly good, especially if you ask right questions
#10AI 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".
Not just Generic. Any of the finance guys on YouTube that aren't grifters will say this. Post-train on a single one of them and boom AI is a financial guru.