Transcript:
Are you smarter than AI? I bet you’re thinking not, but check this out. I was doing some weekend research and came across an article by Financial Advisor Magazine where they surveyed pre-retirees and tested AI in their financial literacy for retirement income. So the average pre-retirees scored about a 31% in that. Now, ChatGPT in the same test scored barely higher with a 45%. So, you might possibly be smarter than AI when it comes to this.
Now, a couple of things: why can’t AI score better? Well, the financial industry and the tax industry are constantly changing, so AI does not have the power to scrub the internet every day for updated articles. But here’s the craziest part: even if it could scrub the internet every day for updated articles, the IRS still has outdated articles on their website. If you go to the .gov website, there are articles from before Secure Act 2.0 and pre-other tax changes. So unless you’ve got both the knowledge and the wisdom, AKA human traits, you’re not going to be able to decipher and sift through what’s true and what’s out of date or false.
The other reason that AI might not have scored so good in that test is because the questions asked can be abstract at times when it comes to personal touch and human achievement. So they then took and ran a new AI session, and this time trained it only on the Retirement Income Certified Professional designation program from the American College of Financial Services, which also happens to be some of the same schooling that I went through. In that time around, AI scored a 92%.
The article then went on to describe how they surveyed participants, and participants who had a financial advisor had 20% less anxiety and were 25% more stress-free. Now, I’d love to see those numbers up even higher, but either way, that’s another attribute that AI cannot provide.
So if you’re ever looking for advice with a human touch, let’s have a simple phone call. You can reach out to us on our website at bogarretirement.com or send us an email at contact@bocaretirement.com. Bye!
One last thing: we are also slowly setting up a retirement Mastermind group I am calling Retire mentality. If you don’t know what a mastermind group is, it’s a group of like-minded individuals getting together to help each other solve common problems. We plan to run this group in a round table format so peers can help each other. We might talk about things like finance, things like healthcare, things like travel, things like local events. If you are interested in joining this group, you can send me an email at contact@bocaretirement.com. This will be a complete anti-sales group designed purely in helping you help others retire.
