4 CHATGPT Prompts To plan your Financial Freedom
Anyone who no longer needs to work, at whatever age, does it with a plan. Have you made yours? These 5 ChatGPT prompts will help you understand exactly how to get set up. Copy and paste each prompt into ChatGPT and edit the square brackets with your information.
- Know your numbers
Numbers tell you how to plan to get to where you want to go. Use this ChatGPT prompt for the calculations you might not yet have made. Include all the relevant numbers for the best assessment, and get its best guess for the year it could happen.
“Calculate when a person, age [your age] can not need to work for money (otherwise known as retiring). I’m going to outline their current income and assets and then their spending. From this, make a calculation on when they could retire from work at their current level of income and spending. Here’s the information on income: [include information on your income and assets, including any yield levels.] and outgoings: [include your average monthly spend, with everything included].”
2. Plan your days
If you didn’t have to work, how would you spend your time? Would you nap all day or spend your time watching a film? If you don’t plan it out, you’ll waste precious time. Ask ChatGPT for a sample timetable, it might help you realize that either you don’t want to stop working completely, or that your dream life actually doesn’t cost that much. Here’s the prompt.
“When I’m not working I enjoy [outline everything you like doing including hobbies, sports, spending time with specific people, pastimes, interests, and so on]. Outline a typical week for me, if I didn’t have to work for money. Include waking up at [time you want to wake up], going to sleep at [time you want to go to bed] and plan the time in between in one or two hour increments.”
3. How to do it faster
You could follow the timeline ChatGPT has given you, to spend your days according to the plan outlined. Or you could do it faster. WIth your skill and ability, you can figure out a way to earn more or spend less, or both. If being financially free as fast as possible is your goal, ask ChatGPT for ways you can shorten the time frame with your current resources. See which suggestions are feasible and give them a go.
“If my business is currently earning me the income described above, and I’m spending the amount described above, but I want to be able to stop working within [number] years rather than the number you said, what could I do to make this happen faster? Include all the ways I could make more money in my role as [your role] at my business, which [describe what your business does]. Also outline some ways I could reduce my costs, which currently include [describe your biggest expenses]. Calculate how much faster I could stop or wind down if I made these changes.”
4. Make your plan
Ask ChatGPT for your personalized plan of everything that should be put in place before the date you’re financially free. Tell it your preferences and hear its suggestions. Re-prompt to change the plan in line with your current situation and what you think might be possible.
“Outline the steps someone running a [type of business] would take if they wanted to hand over their business to someone else to run. Specifically, [describe the type of exit you want, including share purchase, management buyout, partnership, calculated timing of closing a business or making it completely autonomous.] Put this into a plan that spans [number] years, with a step-by-step breakdown of what they should do.”
