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AI’s Social Security Advice is Not Always Correct - LarryKotlikoff.substack.com
AI is often cited as the reason so many people are losing their jobs. But when it comes to Social Security advice, the answers you receive may not be correct. For example, check out this earlier post describing an unfortunate AI-related experience. Larry Kotlikoff, a well-known author of Social Security books, has written a very detailed article on using “Artificial Intelligence” (AI) to get the proper Social Security answers you are seeking.
In his article, Kotlikoff states, “Roughly one-in-three workers is using AI to make Social Security as well as other retirement decisions. Many others are using conventional financial planning tools developed to make Wall Street money, not deliver proper advice. And since AI has been trained on Wall Street’s “advice”, almost all of which is wrong, what AI spits back is worse than worthless. It can cost you a ton.” Read his article here.
AMAC Foundation Social Security Advisors have tested AI with common Social Security questions we handle daily, and found that important questions were answered incorrectly. For example, AI often fails to distinguish between ‘old’ and ‘new’ rules. We’ve also encountered people basing their retirement plans on strategies that are no longer available to maximize benefits.
Click here to learn more about AMAC’s free Social Security Advisory Service. To contact an NSSA Accredited Social Security Advisor, email your questions to ssadvisor@amacfoundation.org or call (888) 750-2622.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.