| Is it possible you're training your users to become even more susceptible to other investment scams? At the end of the day, the fact is that securities analysis and investing savvy is a sophisticated skill requiring many years of study before any kind of +ev outcome can be expected. In a way, this is one of the biggest reasons I think the move from private pensions to 401ks and the like has been a gigantic disaster. I mean, I remember working at Google and a dozen or so of us on my team would go through some fairly deep analyses and discussions regarding 401k allocations, mega-backdoor contributions, tax implications of same, HSAs, HD healthcare plans, etc. My brother's a carpenter. My dad works in a factory. They are both forced to make these same decisions, except with basically zero background whatsoever in any kind of financial education. They don't know the very basics about the fees their funds are taking, they aren't too interested in figuring the exact tax-efficient pathway to retirement. And why the hell should they be? Forcing commoners into market participation was a mistake. Your app is well-intentioned. Seems pretty great, to be quite honest. But you're training your users to become used to coyote-behaviour (that is, Hey Investing Can Be Quite Simple!), whereas we should train all regular existing "market-participants": Anybody who wants to get you to invest directly in markets, whether it's your RRSP organizer, your 401k, whatever, they in general are not operating with your best interests in mind. 401ks and the like were a huge boon to wallstreet and huge hit on the working class. WallStreet basically forced every Tom, Dick, and Harry into their arena. Guess who's gonna win? |