[Chris]

One very useful thing you can do with ChatGPT is have it provide projections and some guidance for your current portfolio.

Obviously, you’ll still want to run things through a financial advisor, and the market may not perform exactly as we may hope, but it can give an idea of possibility based on where you’re currently at so that you can decide what moves to make next.

[Amanda]

ChatGPT is a language model that is notoriously terrible at math. I asked it to simply add a few numbers for me the other day and it failed four times before successfully calculating the correct number.

Definitely recommend using a compound interest calculator or other projection methods.

Relying on ChatGPT’s calculations is a recipe for disaster

[Ryan]

Honestly, learn to do it in excel. It’ll give you a better understanding of hot things actually work.

And you have a higher chance of it being right.

[Ganesh]

Never trust a LLM when external expertise like understanding of financial markets is needed.

It will give you answers that sound correct but can be totally off base.

If you want it to analyse data then it needs exact instructions what to do

[Benjamin]

Tools like ChatGPT definitely mess up but some times the difference is knowing how to prompt it.

Asking it to project a value based on % return after X years may not give you the right result but if you’re specific and tell it what formula to use it might work better.

Long term excel will be the better choice but great for a quick question or hypotheticals.

Perplexity is also a great choice. I’ve replaced ChatGPT with it for one off questions/Google replacement.

[Chris]

Double check that work. Chat Gpt can make a lot of mistakes in complex calculations.

[Jason]

The AI models are *very, very* bad at even basic math these days. I would recommended learning excel formulas.

I’ve done this during this year, and it’s changed my life for the better!

[Author]

Posts