Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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”

This wouldn't tell me anything I didn't already know, or should know, by looking at the numbers.

Duh, but you have to come up with the numbers first, and that’s what it did

So this is meaningless. Like a pat on the head or something. I don't get the point.

Huh? I put my numbers in and asked how they would work in retirement and it gave me an answer. I’m not sure what you’re getting at. It’s no different than giving your numbers to a human advisor and asking.

Oh it's quite different.

It depends quite a lot on which model version you are using. Free models go way off the rails at arbitrary moments, forget recent information, and are very very good at making up fake explanation to justify contradictions.
Some models use calculators and write computer programs to get math correct.

It just told me I have more money than most private school families in the DC area, but don’t spend as much as many of them on flashy cars, housing and vacations. Meanwhile it says I can buy a vacation home and fly business, and still grow money for my kids. When I retire early, people will be surprised but will respect me for it and consider me quietly wealthy. It also said I can’t afford to go on an “Hermes Journey” unless I really budget for it, but other shopping is fine. Haha good to know.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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”

This wouldn't tell me anything I didn't already know, or should know, by looking at the numbers.

Duh, but you have to come up with the numbers first, and that’s what it did

So this is meaningless. Like a pat on the head or something. I don't get the point.

Huh? I put my numbers in and asked how they would work in retirement and it gave me an answer. I’m not sure what you’re getting at. It’s no different than giving your numbers to a human advisor and asking.

Chat tells you what you want to hear. Anytime I hear someone mentioning "asking chat" I laugh.

Anonymous wrote: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.

I have been helping my high school son make study guides for AO high school classes and found it makes errors and hallucinates enough that you really have to check what it is putting out.

Even something simple as group these 100 historical figure into groups of 10 to study more effectively was botched. Some names were duplicated and put into different groups in the wrong time frame and others were completely excluded.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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”

This wouldn't tell me anything I didn't already know, or should know, by looking at the numbers.

Duh, but you have to come up with the numbers first, and that’s what it did

So this is meaningless. Like a pat on the head or something. I don't get the point.

Anonymous wrote:

Anonymous wrote: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”

This wouldn't tell me anything I didn't already know, or should know, by looking at the numbers.

Duh, but you have to come up with the numbers first, and that’s what it did

Anonymous wrote: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”

This wouldn't tell me anything I didn't already know, or should know, by looking at the numbers.

Ask Gemini and see how they match. Then ask each why the other said something different.

Anonymous wrote:

Anonymous wrote: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 . . .

AI is a joke when it comes to personal finance. If you think it's a replacement for a person with experience and knowledge, go on bogleheads and look at the crazy responses AI came up with when passed with basic questions. The only people I know using AI in this way are crypto bro types.

Yea well I disagree. If you know nothing about the subject then yes you’re taking a chance. But if you approach the discussion with ChatGPT with some knowledge it can be extremely useful and accurate.

To me, it’s like using an Internet translator. If you know nothing about the language you’re asking to have translated it can make big mistakes. But if you know the language a little bit, you’ll catch them easily. Same with Chat GPT.

Anonymous wrote: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 . . .

AI is a joke when it comes to personal finance. If you think it's a replacement for a person with experience and knowledge, go on bogleheads and look at the crazy responses AI came up with when passed with basic questions. The only people I know using AI in this way are crypto bro types.

OP here. I’m sold.

I’ve plugged my numbers into Claude, Gemini, and ChatGPT. Each time me came back with similar feedback, but in different ways. I then met with our advisor and his forecast was similar, but obviously more detailed and nuanced. But using AI gave me lots to think on and help prep me for the advisor call.

No, it’s silly. If you are a HNW individual, you surly have professionals that help with this. Trust them.