I asked ChatGPT to simplify and sort out my investments

Doshwaster

I've been using Gemini for the past few weeks to do some financial planning and I must say that I've been impressed. The trick is to build a "master prompt" which you can reference in future queries so that you don't have to keep repeating all of the inputs. It's then easy to run various scenarios or make changes,

Cobbler_tone

I am a big fan of Co-Pilot and use it all the time, however, you do need to be careful and sense check the outputs.

I recently used it to check my income tax and NI across the year, with various tax code changes. It failed to add up 12 figures (taxable pay), not once….but 4 times!! Each time I said "that doesn't look right" before I put the actual answer in and it still got it wrong. Then I told it the total was still wrong and it proceeded to add them one at a time until it got it right! When it does things like that it loses some credibility for other outputs you get.

It is brilliant though for building exec reports and pulling out key details and summaries etc.

BikingBud

https://forums.moneysavingexpert.com/discussion/comment/81937129#Comment_81937129

Why not all credibility?

You recognise it cannot do some things but you trust it for others or you distrust it entirely and do let important things near it.

jeelz

https://forums.moneysavingexpert.com/discussion/comment/81937129#Comment_81937129

I had a similar problem with Gemini. I’m told that because of the way AI works it isn’t good with larger numbers. A workaround is to ask it to use python when doing any calculations. This reduced a lot of the incorrect calculations I was getting.

cfw1994

https://forums.moneysavingexpert.com/discussion/comment/81937083#Comment_81937083

I’ve not tried Gemini, but Claude is pretty impressive. Give it enough detail (without too much personal references, obviously!) and it can be VERY impressive, I found.

Gave it our broad situation and details of the various pensions/ISAs, etc, and ultimately got a multi-page report with sensible suggestions.

Clearly one needs to check suggestions along the way, but tbh I would be doing that if I were using a human advisor - people are imperfect!

It is a very useful tool.

westv

I am obviously insightful and able to ask astute and meaningful questions. Gemini is always telling me that.

Doshwaster

https://forums.moneysavingexpert.com/discussion/comment/81937685#Comment_81937685

Yes, you need to double check calculations but if you do point out mistakes then it is usually good at fixing them.

AI tools are never going to give you a complete solution but they are excellent at getting from a blank sheet of paper to a first iteration. I have just dropped in a CSV export from my bank account and credit cards and within a few seconds it came back with some good analysis and suggestions.

Some people seem to have the attitude that AI is rubbish because it makes mistakes. Well, so do people.