People use artificial intelligence (AI) for many things: meal planning, budgeting and interior design. But can you use a platform like ChatGPT for tasks that normally require a professional, like financial planning?
I chose a hypothetical scenario and asked ChatGPT to construct a retirement plan that would allow a retiree to live on $100,000 a year. I assumed an annual income of $125,000 for a 40-year-old who wants to retire in a fully paid-off home in Tennessee at age 65. After setting the parameters (and asking ChatGPT if they were realistic) I asked the generative AI to create a retirement plan.
Then, I asked Eric Franklin, CFP, managing principal at Prospero Wealth to review and assess it.
