- AI financial advice generally promotes good financial behaviors like saving more, diversifying investments, and reducing risk with age.
- AI advice fails to properly adjust to shocks like unemployment and allows portfolios to drift without active rebalancing.
- The quality of AI advice improves when prompts are detailed and structured, but regular users often ask vague questions.
- AI advice varies based on user gender, financial literacy, and prior AI experience, leading to wealth gaps of up to $100,000 by age 60.