PensionBee study suggests alarming AI personal finance trend
NEW YORK, Sept. 17, 2026 (GLOBE NEWSWIRE) -- Nearly six in ten (57%) Americans who seek money advice from chatbots would act on its guidance without checking it, according to PensionBee.
The survey of 1,000 US adults who use AI chatbots for personal finance suggests this includes decisions that are hard to undo, like how to invest or when to retire. Nearly one in four (23%) say a chatbot has already given them wrong information about their money, and 5% found out only after they had acted on it.
Click here for more information: https://www.pensionbee.com/us/research-and-insights/2026-ai-and-your-money-report
Older Americans are the least likely to think they've been misled. 82% of Baby Boomers who use AI for financial questions say a chatbot has never given them information that was wrong or unsuitable, the highest share of any generation.
Independent research has found AI search tools incorrectly cite or attribute news sources more than 60% of the time. Sharper questions tend to produce better answers, but knowing what to ask depends on financial literacy, which has fallen to a record low in the US.
Which financial decisions are Americans handing to AI?
Higher stakes decisions, meaning ones that may not be reversible.
- 18% would go ahead with an investment allocation the chatbot suggested.
- 16% would go ahead with a major purchase.
- 15% would go ahead with a retirement age the chatbot suggested.
Lower stakes decisions, meaning ones that carry limited cost.
- 35% would go ahead with how much to save each month.
- 26% would go ahead with canceling certain subscriptions.
- 22% would go ahead with paying off debts in a certain order.
Despite 53% of chatbot users reporting “moderate or extreme” privacy concerns, many still trade personal details for a better answer:
- 32% shared monthly spending or budget details.
- 29% shared income or salary.
- 17% shared account balances.
- 8% shared bank or credit card statements, uploaded or pasted.
- 4% shared account numbers or credit card numbers.
- 3% shared a passport number, driver's license number, or Social Security number.
Younger generations are more likely to trust AI with personal information than older users and more likely to feel comfortable letting it act without checking the outcome. 66% of Gen Z would let AI act autonomously on their behalf, compared to 62% of Millennials, 56% of Gen X, and 47% of Baby Boomers.
"AI expands access to financial knowledge and that can be a genuine gain," said Romi Savova, CEO of PensionBee. "But it is not without risk. A chatbot may give you one clean answer to a nuanced question, whether or not it fits your life. Retirement decisions are harder to take back, so they deserve a second look before you act."
Methodology:
This survey was conducted online among 1,000 U.S. adults aged 18 and older, all of whom self-reported using an AI chatbot for help with their personal finances. All figures, unless otherwise stated, are from Attest. Fieldwork ran July 18–21, 2026. The sample was non-probability-based and employed demographic quotas for age, gender, and region.
Voluntary Participation: Participation in the survey was voluntary. Respondents were free to decline participation or skip any questions they chose not to answer. Participants were not required to be PensionBee clients to participate.
About PensionBee
PensionBee (LON:PBEE; OTCQX:PBNYF) is a leading retirement savings provider, helping people easily consolidate, manage, and take control of their retirement savings. The company manages over $11 billion in assets and serves nearly 330,000 customers globally, with a focus on simplicity, transparency, and accessibility. PensionBee offers Traditional, Roth, SEP, and Safe Harbor IRAs with ETF-backed portfolios. PensionBee is publicly traded on the London Stock Exchange (PBEE) with U.S. shares available on OTCQX (PBNYF).
Media Contact:
Adela McVicar
SR PR Manager, PensionBee
adela.mcvicar@pensionbee.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3bf076c3-91f7-4258-81fe-468a63db1981
PensionBee Inc. is registered with the Securities and Exchange Commission as an investment adviser. We do not provide in-person advice. PensionBee Inc (Delaware Registration Number SR20241105406 ) is located on 85 Broad Street, New York, New York, 10004.
