I increasingly use ChatGPT for a lot of things from exercise routines to improving recipes and assessing csr issues. I even used Chat to assess the progress of my father's health decline and remaining life expectancy. It's been excellent, even amazing and in the case of my father, more informative then anything told to us by his doctors.

But you have to understand the limits and always verify with other sources. The advantage of ChatGPT is the clarity and directness.

If the Chat is telling you the same thing as your financial advisor, then you know it's pretty reliable. I'd be more hesitant when it comes to things like specific stock investments as that involves forecasting and that is where Chat is much more limited.

No.
They tell you want you want to hear, and you have to be extremely specific when asking things.

I’ve been using it to run monte carlo simulations to prepare for conversations with our financial planner but I would 100% not rely on it alone.

I plugged my numbers into Gemini and it said I was essentially "indestructible" by most retirement standards. It then said I had transitioned from "well-off" to the territory of "generational wealth" or more accurately defined as a self-sustaining financial engine that outlives its creator.

absolutely not. I’m not a professional, but i do have a degree in finance and my decisions are always informed with a large dose of gut instinct.

Anonymous wrote:

Anonymous wrote:I’ve found it most useful for decorating advice.

What?! How?

It will mock up a pic of a room with different paint or piece of furniture, tell me if my bookshelf is too cluttered, suggest under-cabinet storage solutions, suggest window treatment styles, etc.