Who Should You Trust With Your Money? (Friends, Family, Experts, AI, and Bad Advice) SB1869
About this episode
The episode explores who to trust with financial advice, discussing the pitfalls of advice from friends and family, the role of AI, and how to discern good advice from bad.
A Wall Street Journal story about a 17-year-old helping his family with financial decisions kicks off a much bigger Stacking Benjamins question: who should you actually trust with your money? Joe, Doug, Paula Pant, Jesse Cramer, and special guest Roger Whitney dig into where great advice comes from, why bad advice often comes from people who love you, and how to build a better filter before you act. Along the way, they talk books, podcasts, family advice, AI, confirmation bias, homebuying myths, index funds, retirement plans, and why "smart" isn't enough. What You'll Walk Away With Why Roger says "advice" has a high bar: real advice should apply to your specific life, not just sound smart in public The difference between information and advice -- and why confusing the two can lead you into trouble Why books often beat random internet advice: they usually have more vetting, structure, and accountability How well-meaning friends and family can still give terrible money advice when they speak confidently about things they don't really understand Paula's advice pyramid: avoid people who profit from outrage, be skeptical of people with no accountability, and seek sources with both…
People in this episode
Hosts: Joe, Doug
Guests: Paula Pant, Jesse Cramer, Roger Whitney
Topics covered
- trust in financial advice
- sources of financial advice
- impact of AI on finance
- confirmation bias
- family financial advice
- investing strategies
Keywords
- financial advice
- trust
- AI
- confirmation bias
- investing
- retirement plans
- index funds
- homebuying myths
Mentioned in this episode
Organizations: Wall Street Journal
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