: Can ChatGPT help you plan your retirement? Yes — and no.

by | Apr 10, 2023 | Stock Market

This article has been updated to remove an erroneous quote. ChatGPT is a media darling. The chatbot has become something between a social-media influencer, and for some, a modern day Oracle of Delphi.  Intrigued, I sit down and key in a question. How should I prepare for a longer life?

Text appears across my screen at a maniacal pace. A nearly 600-word response materializes in nearly less time than it took me to type my eight word query. The artificial intelligence bot provides a remarkably well-rounded response, advising exercise, nutrition, staying mentally active, retirement planning to ensure my financial security, and even urges me to consider long-term care in older age.  I dive deeper. I ask: What should my retirement plan include?  Again, at lightning speed, the bot provides the outline of the basic elements of a retirement plan in a neat, clear, and numbered list. How far can this bot go?  Finally, I propose a more nuanced hypothetical question asking: How might a 65-year-old retiree live comfortably on a savings of $1 million?  ChatGPT immediately provides the range of possibil …

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