AI Advice

Talking Real Money - Investing Talk

Don McDonald

Education, Investing, Business, How To

4.5 • 811 Ratings

🗓️ 16 September 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week Don hosts solo and brings in “Cath GPT” (ChatGPT) as a "live" guest to explore the rise of AI in personal finance. They cover what types of questions AI is best at answering, its limits for real-time data and stock trading, and the importance of privacy and skepticism. Don emphasizes planning before investing, critiques dollar-cost averaging with lump sums, and fields listener calls on shifting from commercial real estate to the market, Roth conversions, AVGE vs. AVUV, resetting cost basis in a low-income year, and avoiding dubious “legacy funds.” The show closes with reminders about planning, asking spoken questions, and steering clear of high-commission products. 1:02 NYT & Yahoo reports on AI financial advice 1:53 Cath GPT joins live, discusses safe AI uses 3:58 Privacy concerns and data recency limits 6:22 Why AI is bad for stock trading advice 6:50 Don confirms Cath recommends index investing 8:14 Warning about sycophancy — always ask for sources 8:38 Caller Josh: pivoting from commercial property to stock market 10:32 Don: planning first, lump sum > DCA 13:23 Caller Greg: inherited assets, Roth conversions, AVGE timeframe, bond/CD ladders 17:20 Don urges no market timing on conversions 22:50 Caller Brian: small-cap value, AVUV vs. Russell 2000, Merriman strategy 28:07 Don: simplify, AVUV fine but optional 29:43 Caller Jason: harvesting gains in low-income year, Don urges diversification 33:03 Caller: backdoor Roth timing — lump sum beats DCA 34:35 Don jokes about October crashes 37:59 Caller Tim: best annuity is SPIA, avoids “legacy funds” Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Reality radio for a really great future.
0:08.0	We're talking real money.
0:09.9	Yep, it's real talking money or real money talking time again.
0:15.0	Hi, everybody.
0:16.2	I'm Don McDonald.
0:17.6	And Tom is taking the weekend off, taking care of some, some family stuff, and so you
0:24.6	are stuck with me. But you can call me and we can talk about your money and I love doing that.
0:32.1	You just go find that telephonic, electronic computerized device you have and you punch buttons. I want to say
0:41.9	dial, but it's so archaic. You punch your buttons that go 855-935-935 talk. 855-935-8-2-5. Give me a holler.
0:54.0	Love to talk with you during the course of what we do on the radio,
0:57.8	which is a couple hours of conversation that ends up becoming a podcast next week.
1:02.4	Now, this week, in fact, just today, I read an article in the New York Times about young people turning to chat GPT, which is
1:13.4	artificial intelligence, for financial advice. And I did some more research. And a Yahoo
1:20.2	finance study found that about 40% of Americans now right this. Use AI for financial planning.
1:29.5	So is this a good thing?
1:32.1	Or is this a scary thing?
1:34.3	I think you'll probably get a variety of opinions
1:37.3	depending on who you ask.
1:40.6	But I thought this would be a great opportunity with Tom Gahn for me to bring in a real expert on artificial intelligence.
1:53.5	Artificial intelligence herself, Kath GPT, which is my name for ChatGPT, which I use all the time to help me with my work.
2:04.7	And so I invited, invited, Kath, to be on the show today.
2:10.0	Hi, Kath.
	...

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