Retirement Planning with AI

Authentic Business Adventures Podcast

Alexander Harmsen - Portfolio Pilot On Playing the Game: "How do we set a level playing field so that we negate the effects of all these high frequency traders?" Investing strategies can be challenging. Typically it is you either trying to beat or keep up with the market, or you paying someone that vaguely promises to beat or keep up with the market. You almost need a computer to help you crunch all of the numbers. Alexander Harmsen, cofounder of Portfolio Pilot, has had some successful exits and wanted to find places to invest. But the market can be daunting, and all of the so-called pros didn't seem to be all that talented, at least as far as offering well calculated advice. When you meet a financial planner that isn't dominating in the financial field, what are they actually offering you? So Alex helped build Portfolio Pilot. PortfolioPilot.com is a platform that uses AI to look at all of the numbers you have, what you want, where you're going and calculates, in the fancy way AI is known for, finally pumping out some investment action step suggestions for you. Ultimately you decide, but it gives you well calculated advice. If you've ever wondered if you should buy or sell a certain investment product, using AI to help figure out all, or most, of the variables can help you choose what to do and when. Alexander shares insights on how PortfolioPilot empowers DIY investors by providing a comprehensive view of their financial landscape and offering personalized, automated advice without taking control. With over 30,000 users and $30 billion in assets on their platform, PortfolioPilot is changing the game by offering tailored financial recommendations based on a user’s age, net worth, and risk preference. Listen as Alex illustrates the shortfalls of other options, and the cost of ignoring the opportunity to help get your money to work for you. Enjoy! Visit Alex at: PortfolioPilot.com Podcast Overview: 00:00 Exploring Financial Ventures and Investments 04:12 PortfolioPilot: Custom Investment Platform 08:32 Monthly Tax-Loss Harvesting Tips 10:54 AI Evolution and Financial Modeling 15:36 AI Entrepreneurship: Navigating Practical Realities 18:11 Simulating with GPUs for FAA Approval 20:39 Compute Needs and Costs Rising 25:16 User Feedback Drives Product Success 28:41 "Obsessed with AB Testing" 31:54 Resisting Financial Advice on Tesla 34:10 Investment Diversification Dilemma 38:54 Macro-Driven Volatility Analysis 41:21 Market History and Transformations 44:12 High-Frequency Trading Equalization Strategies 48:56 Distrust in Financial Institutions 49:44 AI: Future of Personal Advice Podcast Transcription: Alexander Harmsen [00:00:00]: And it goes through and it talks about, like, retirement readiness, and In scores your portfolio, and it, you know, calls out what's what's really good and, like, where are some opportunities for improvement. And, you know, importantly, it bends it benchmarks you. It compares you to other investors on your age, your net worth, your risk preference. The difference that we made, this absolutely massive change James Kademan [00:00:24]: You have found Authentic Business Adventures, the business program that brings you the struggle stories and triumph and successes of business owners across the land. Downloadable audio episodes of the podcast can be found at drawincustomers.com. We are locally underwritten by the Bank of Sun Prairie, calls on call extraordinary answering service, as well as the Bold Business Book. And today, we're welcoming slash preparing to learn from Alexander Harmsen, cofounder of portfoliopilot.com, and we're gonna learn about investing in AI. So, Alex, how are you doing today? Alexander Harmsen [00:00:56]: Doing really well. James, thanks for having me on the pod. James Kademan [00:01:00]: Thank you know, I'm excited because I like to think of myself as an investor. I'm not gonna say a smart or good investor,