I’m personally more comfortable with the human component for investing, more so, an advisor. I respect and appreciate those in favor of AI and/or self-managing a portfolio and realizing added benefit, but that avenue isn’t for everyone, myself included. Even when AI becomes factored into use by advisors on my behalf, I’m still personally in a place that I appreciate someone working in an industry who’s knowledge is specialized and to whom can make informed decisions on my behalf in a world they’re engulfed.
I use the same strategy or logic for other aspects in my life, say household repairs. I’m not lazy by any stretch. I will do some basic electrical or plumbing or auto repair or what have you. I’ve changed ceiling fans and replaced faucets, etc. But when a job I could likely tackle begins to get a bit more involved and/or could conceivably take 2,3,4 hours of my time to complete as willing but rudimentary participant, I’m much more apt to work overtime in my own field doing what I know and am familiar with, and using that money earned to pay a plumber to do their job the right way. In the end, I’m still investing time and effort into a project, but I’m allocating and distributing the work and resources more appropriately. At least as I deem it.
With respect to AI and technology in general, it can be quite overwhelming for some and is accepted and embraced on a person to person basis. Some people love to be ahead of the curve, many will advance with it as society moves it along to the general masses, and some will refrain and opt for familiarity and hold on to what they know for as long as they can. It’s why our grandparents still have landlines at home. It’s why many wish to review bills first and pay each month versus auto withdrawal and trusting all is accurate behind the scenes. It’s why some still invest exclusively with their bank via a savings account.
Many people will find simplicity in doing certain things (eg investing) on their own and promote the time and savings they make through self-management, yet fast food restaurants are as popular as ever and companies like Skip the Dishes seem to be absolutely thriving. Where individuals will find value in not hiring an advisor for their investment and do it themselves, they’ll pay someone to shop and deliver their groceries for them, or drop off dinner rather than picking it up or making their own meal.
It’s all about where you wish to allocate your time, energy, and funds I suppose, and at what level of comfort to each.
The nice thing is, there’s room for everyone in all of this. Investing, shopping, household repairs, and everything in between. What works for me doesn’t work for you and vice versa.
This thread has been interesting to read of late and what I’ve enjoyed most is that along with differing views, there’s been a nice level of respect in the conversation to those involved. Forums are so often laced with vitriol and hate, but it’s been a pleasure to learn and appreciate the varying viewpoints and counter offerings without having to sort through anger and ignorance.
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