ChatGPT’s advice on where to put $10k isn’t bad, but we’ve found better options

What did ChatGPT get right about saving $10k

When we asked ChatGPT where to save $10,000 in savings, he didn’t offer rash or inaccurate advice. In fact, I start by asking a very smart question – how long can money be left untouched – so you can tailor your options to your time horizon.

If you may need cash within a few years, this refers to high-yield savings accounts, money markets, certificates of deposit, and U.S. Treasury bonds. But if you won’t touch it for five years or more, he suggests investing in the stock market — a solid foundation most financial planners would endorse.

ChatGPT also recommended keeping a portion of your savings liquid, such as in a high-yield savings account, while allocating another portion to something with a fixed rate, like a CD, to boost overall returns. This balance between flexibility and higher returns is something we regularly recommend here as well.

But when we checked the ‘higher price’ picks against it Investopedia In the daily rankings, the differences weren’t small, they were such that they actually changed how much you earned.

The best rates on ChatGPT look good. But our products won in almost every category

We asked ChatGPT to dig deeper into each saving category — high-yield savings, money markets, and six CD terms — to find the best rates possible. It had the highest rate for high-yield savings, but missed the national leaders in every other category. While ChatGPT’s recommendations were limited, Investopedia Daily rankings provide depth, with at least 15 high APY options for each savings product.

To see Investopedia’s detailed rankings of the best APYs, click the link in the savings product name above.

The results clearly show the difference: ChatGPT occasionally found a strong rate, but… Investopedia Verified ratings provide broader and more up-to-date coverage, with a higher APY in almost all cases and more client options.

Why is it so difficult for ChatGPT to keep up with real-time prices?

Bank interest rates are constantly changing, so what was right yesterday may be out of date today. While ChatGPT can process information very quickly, it cannot continuously monitor the hundreds of institutions that set and adjust deposit interest rates across the country. To fill this gap, they often rely on “best of” lists on other sites. Not all of these sources expose the nation summit Proceeds – Some highlight partner institutions instead. Many people spend days or even weeks between updates. The result is that ChatGPT’s advice may seem accurate but is actually outdated.

Investopedia By contrast, the Rate team screens more than 200 banks and credit unions every business day and updates our reports of the best savings, money market, and CD rates accordingly. This daily routine helps ensure that our data reflects current conditions, not rates that have already changed.

Rates move quickly, and even small differences can change the amount of your savings over time. So, for anyone trying to get the most out of their money, staying on top of prices is the surest way to keep your profits on track.