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When to Trust AI With Your Money Questions (and When to Stop)
More than half of Australians have already asked ChatGPT or Claude about their money. Among 60- to 64-year-olds, 41% have used AI to ask specifically about retirement.
We’ll be honest — we use AI tools in our own research and we think they’re brilliant for building understanding, stress-testing scenarios, and sharpening the questions you bring to a meeting. But Anthony Caneva’s (AFR) five-question test is worth pinning to the fridge: if the answer depends on your super structure, your tax position, your family situation, your risk tolerance, or your specific goals — you’ve crossed from education into advice territory.
And that’s where AI consistently falls short. Caneva ran dozens of financial questions through ChatGPT and Claude and the pattern held: a flawed grasp of super and tax law, invented data, and zero compliance checks. These tools don’t know what they don’t know about you — which is precisely the thing that makes financial advice personal.
The boundary is simple: use AI to learn, to model, to prepare. Then bring those sharper questions to someone who knows your situation, has a legal duty to act in your interest, and can tell the difference between a good idea and a good idea for you.
→ Our read: Use AI to get smarter before the meeting. Not instead of one.
More than half of Australians have already asked ChatGPT or Claude about their money. Among 60- to 64-year-olds, 41% have used AI to ask specifically about retirement.
We’ll be honest — we use AI tools in our own research and we think they’re brilliant for building understanding, stress-testing scenarios, and sharpening the questions you bring to a meeting. But Anthony Caneva’s (AFR) five-question test is worth pinning to the fridge: if the answer depends on your super structure, your tax position, your family situation, your risk tolerance, or your specific goals — you’ve crossed from education into advice territory.
And that’s where AI consistently falls short. Caneva ran dozens of financial questions through ChatGPT and Claude and the pattern held: a flawed grasp of super and tax law, invented data, and zero compliance checks. These tools don’t know what they don’t know about you — which is precisely the thing that makes personal financial advice well… personal.
The boundary is simple: use AI to learn, to model, to prepare. Then bring those sharper questions to someone who knows your situation, has a legal duty to act in your interest, and can tell the difference between a good idea and a good idea for you.
→ Our read: Use AI to get smarter before the meeting. Not instead of one.