I’ve been tinkering around a lot with AI tools (as I’m sure that you have as well).
My visionary argument is that people will still make poor personal financial decisions with or without the existence of superhuman intelligence.
What Claude is really good at
Automate logic based tasks (if X —> Y—> Z)
Deep research on every possible topic in humanity
Aggregating information quickly for decision making
Making aesthetic powerpoint decks and excel models
Agreeing with you and telling you you’re right (haha)
What Claude won’t be able to do
Help you lose 20 pounds if you hate going to the gym
Help you save money if you’re a spender
Help you start investing if you’re scared of losing money
Help you understand your finances if you hate dealing with money problems yourself
Help you stick to your budget if you’ve never had to stick to one before
Help you get out of debt if you are unmotivated
Help you become the next Warren Buffet (requires you to endure losing positions for long periods of time)
Help give you an unfair advantage in the stock market because it’s available to literally everyone
Help all unprofitable companies become profitable because that violates the rules of modern capitalism
Help you become an accountant (this is maybe debatable)
Etc etc etc
Can it give guidance? Absolutely.
Faster information, deep research, repetitive tasks. I love it and use it for so many reasons.
Is it a magical potion that can solve all of our problems?
Absolutely not.
For the same reason that budgeting apps, budgeting spreadsheets, financial softwares, financial podcasts, personal finance books, fin-influencers have been around for a decade.
Have people actually advanced their financial positions with all of this new information?
If anything, it seems like most people are in worse off financial positions than they were 40 or 50 years ago before all of this technology and information came around.
Think about how your parents were able to buy a house with a single 9-5 income in the 1980’s.
Life was actually much simpler back then. Less information. Less noise. Less debt. Fewer things to buy and consume. Less confusion overall.
Yeah….
Technology can actually create bigger wealth gaps in society over time.
I created a very simple AI guide of prompts that you can add to your prompt library.
It’s meant to help you aggregate information and make better sense of your financial situation.
I encourage you to use these prompts and take advantage of technology where it stands today.
And once you’re ready to sit down with a professional to:
Identify where AI may have made mistakes
Help you evaluate whether the outputs are accurate and actually make sense or not
Help you make the right decisions with all this information
Give you clarity and confidence that you’re on the right path or not
Book a call with me here.
And if you’re not super tech saavy, into AI, or you’re uncomfortable using it for privacy or security reasons, I’m always happy to do everything the regular way with you!
❤️A