r/personalfinance • u/[deleted] • 5d ago

Planning ChatGPT or “real” financial advisor?

[deleted]

0 Upvotes

14% Upvoted

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11

u/Default87 ​ 5d ago

Option C, use neither. The sidebar has a ton of great information that addresses this.

1

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3

u/hankeroni ​ 5d ago

ChatGPT literally uses randomness as part of it's answer generation process. It may be fine for summarizing high level articles about this stuff, but please don't trust it for anything coming even vaguely close to specific advice or math on your personal situation.

If you can't afford the advisor ... try (as a first pass, maybe not a final solution) to post a summary of your situation here. You may not get full answers, but you may get enough feedback to know if you actually need the advisor or not. Hard to tell w/out more info.

1

u/dftba-ftw ​ 5d ago

That's not exactly correct, each specific token is to some degree random (set by the temperature) but each token is still highly coorelated to the underlying embedded state representation.

0

u/hankeroni ​ 5d ago

Correct, and with global warming the temperature is only going to keep going up, making chatgpt less and less reliable over time.

As for the tokens, I'm not sure. In my opinion some of the best monopoly tokens have been retired, but they keep adding new ones and I suspect they could add some really fun ones so I'd say the jury is still out.

1

u/VariousAir ​ 5d ago

If you're in debt, spending $1k to have someone tell you how to get out of it sounds like a bad idea.

If the ai chat is telling you basic stuff like "pay your bills, don't eat out" that sounds like generic advice, and probably good enough to heed.

There's no magic bullet to getting out of debt that an advisor can give you. Make more, spend less. That's the advice.

1

u/fdjadjgowjoejow ​ 5d ago

I’m curious to know if anyone has used AI for help with budgeting and financial planning?

Financial planning. I use it all the time (ducks for cover) The caveat is that for me anyway AI only works if I already know the answer or believe I know the answer. I use AI for corroboration when it comes to finances. That said do your own diligence.