Investing Simplified: A Guide for Everyone

Introducing the "Investing Simplified" Template
An example of the investment table that one could generate based on their needs.
A glossary so that users can learn some technical terms that they may not be aware of. This updates each time a new column/row is generated.

Inspiration

For our peers and ourselves, we've realized that getting started on investing can be very difficult. From our research, it looks like many Americans agree. Due to a lack of knowledge and confidence in investing, many of us miss out on meaningful oppurtunities. We wanted to create a simple template focussed on productivity and creativity, leveraging AI to help all investors make educated investment plans.

What it does

Investors can use the template to plan out their unique investment goals. For example, if they'd like to invest for retirement in 50 years, if they would like to purchase a home in 5 years, and many more. After inputting their goals and risk factors, Coda AI responds by providing a variety of investment ideas based on the user's needs. For example, for risk adverse high liquidity requirement investments, AI suggests the corresponding risk free mutual funds which can be helpful. The template is a one-stop shop for all ideas and suggestions, instead of the user having to do all the manual research.

How we built it

As this template is useful for our peers and us, we did a lot of first-hand research. We asked our friends for their most desired features and to provide a review of the final product. We also asked ourselves what would be helpful for us and how this template could be integrated into our everyday lives.

As it turns out, investing can be made simple. We focussed on allowing users to fill in their plans, and polished our AI to make precise, yet educated guesses to help best provide investing advice.

Challenges we ran into

There are many edge cases and complex factors associated with fetching accurate real-time data used for estimates. For example, there are still limits with AI in terms of accuracy of real-time market information and price volatility. We've added a note in our template that while AI can be extremely helpful, users should also do their due diligence to make sure the information they use is up-to-date with current market data.

Accomplishments that we're proud of

After showing this template to our peers, we've encouraged 10+ friends to already begin using this for their investment planning. We are happy that AI has also taught us information about stocks we never knew about and the types of funds with certain characteristics. We hope this makes average retail investors more likely to participate in the market.

What we learned

We learned the extent to which AI can truly help and improve existing ideas and motivations. Coda AI is a great way to organize a simple document to help with productivity and creativity.

What's next for Investing Simplified: A Guide for Everyone

We want to integrate this with other packs in Coda such as TD Ameritrade or other bank account related docs. We want users to have a seamless experience integrating this planning document with real accounts to take action directly.