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If you gave Chat GPT honest and detailed numbers as a gut check and got this response would you trust it?
“Final bottom line You are in the top tier of retirement security: • Lifestyle is fully protected • Market risk is non-threatening • Taxes are the primary enemy — not spending • A seven-figure inheritance per child is the base case, not the upside case” |
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Would I trust a computer model that has a history of simple arithmetic mistakes and serious hallucinations to make one of the biggest decisions of my life. No, no I would not.
Are you being ridiculous as a VHNW individual? Yes, yes you are. |
| What are you starting with? Seems reasonable around here. $1m is not a lot. |
| No |
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Absolutely not
Trump is burning this country to the ground. We will be lucky if the $ makes it through Whatever monies you currently have will be worth 1/4 of what they are now. Below ten million will be poverty level. Yes, it will. Healthcare plan "coming in two weeks" ....... idiots. You voted for this garbage. |
This is a Wendy's, ma'am. |
| I would. But I also would have “conversation” with it. Ask probing questions. At the end it should have prompted you with a next step or question to dig deeper or tell you its thought processes… something like “ would you like me to…”?. You can also ask for sources - and determine for yourself if you think they are reliable. All it’s doing is a mega-search on the internet and synthesizing the info - which you could do yourself if you had 1000 hours. |
No I didn’t |
Same here. Ask for citations, the assumptions it uses and to see the calculations. It’s a great tool to efficiently complete high level analysis. I use it all the time as a starting point, then keep pushing to get substantiation for its assertions. I ran my retirement projections through last week and it pretty much replicated my financial advisor’s suggestions. I also ran my pathology reports and it provided the same treatment plans as my oncologist and radiologist, but with peer reviewed linked citations. |
| Yes, it did ask me follow up questions, and I asked it to follow up, and I was still heartened by the answers. |
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No. My DH has been using it out of curiosity and has found countless errors in the math and misrepresented citations.
Unless you are willing to fact check every point, don’t use it. |
| Not with my money, no. |
| Jesus Christ |
| OP here. We have actually had a real meeting with a real financial advisor. ChatGPT’s analysis and recommendations are basically the same. I can understand why so many are concerned that AI will put everyone out of work . . . |