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Financial Confidence Podcast
Welcome to the Financial Confidence Podcast! Where we help you feel prepared for whatever life brings next. Hosted by Mike Schuster of Schuster Anderson Wealth Advisors, each episode offers practical insights and real‑world guidance to help you make confident, informed financial decisions at every stage of life.
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Cambridge Investment Research, Inc., a registered Broker/Dealer, Member FINRA/SIPC. Fixed insurance offered through various independent insurance companies. Cambridge does not offer tax or legal advice.
Financial Confidence Podcast
Financial Confidence In: Understanding AI’s Limits: 3 Considerations for Your Plan | Episode 35
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This week on The Financial Confidence Podcast, Mike sits down with Herson Castaneda, Financial Advisor and Director of Business Retirement Plans at Schuster Anderson Wealth Advisors, for a thoughtful conversation about artificial intelligence and its limitations through the lens of financial planning.
Together, they explore where AI can be useful, where it falls short, and why human guidance still matters—especially during major financial decisions and life transitions. They also discuss the risks of relying on independent AI platforms for personal financial planning and share a few key considerations to keep in mind.
0:26 Herson’s Introduction
1:11 3 Biggest Mistakes We’re Seeing in AI
1:28 Putting Personal Financial Data into Public AI
2:12 Secure AI vs Non-Secure AI
2:50 Rising Concerns Falling for AI Deepfakes and Voice Scams
3:53 Why Dual Authentication is Important
4:13 Is AI Going to Replace Your Financial Advisor?
4:41 HI + AI = ROI
5:06 Different Levels of Risk Using AI for Financial Planning/Decision Making
5:45 Herson’s Life Updates
6:17 What is Herson Listening to/Reading Currently?
7:13 Conclusion
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