Larry's Substack Articles

Substack articles on various topics by Larry Kotlikoff

Genuine versus Artificial Intelligence
AI Will Eat Conventional Financial Planning’s Lunch, but Not MaxiFi’s. When it Comes to Economics-Based Planning, AI is Hopeless and Truly Dangerous to your...
Wed, 25 Mar, 2026 at 10:19 PM
Why AI Can't Get Real Financial Planning Right
First, LLMs can do conventional financial planning (CP). No surprise. CP is a keep-it-simple sales pitch with a mathematical veneer. It’s not real financial...
Wed, 25 Mar, 2026 at 10:19 PM
Are You Budgeting To the Wrong Budget?
It’s the new year — time for all of us to figure out how much to spend each month, each week, and even each day to stay within our annual budget. Whether we...
Wed, 18 Feb, 2026 at 11:20 AM
Are You Investing Solely to Lose Money?
I wear lots of hats. One is a self-styled financial “therapist.” No, I’m not a licensed mental health professional. But I do talk with many people about the...
Wed, 18 Feb, 2026 at 11:20 AM
The Cost of Charitable Giving Via QCDs May Be Much Lower than You Think
Last year Americans contributed close to $600 billion to charity. That’s both a lot and a little. It’s more than the GDP of 85 percent of the 195 countries ...
Fri, 19 Dec, 2025 at 9:18 AM
Why Delaying Your Social Security Benefits Almost Always Makes Total Sense
Derek Tharp is an associate professor of finance at the University of Southern Maine, the founder of Conscious Capital and head of innovation at Income Lab....
Fri, 19 Dec, 2025 at 9:15 AM
Is Wall Street Meeting the SEC's Rule (Reg BI) to Act in the Retail Investor's Best Interest?
Tens of millions of American households rely on the financial industry to provide investment and related financial advice that is in their best interest. Th...
Fri, 19 Dec, 2025 at 9:12 AM
The MaxiFi Puzzler -- 11-1-25
Forty-year-old Jerry lives in New Mexico. Jerry’s single. But he’s dating an AI bot named Techninny. He loves her or them. But Jerry knows Techninny’s tende...
Fri, 19 Dec, 2025 at 9:10 AM
Are AI Valuations a Huge Bubble?
As you likely already know, the reason the market’s been booming is that the valuations of the 10 largest AI companies, including Nvidia, have skyrocketed t...
Fri, 19 Dec, 2025 at 9:09 AM
Another Awful WSJ Personal Finance Article -- This One on TIPS
Today’s focus is on an article by Derek Horstmeyer, entitled “Inflation-Protected Bonds Fail a Key Test: They Don’t Help When Inflation Is High.” Professor ...
Fri, 19 Dec, 2025 at 9:05 AM