“I’m a normal person who earns $50,000 a year. I want to be financially free in the future.” From why they are feeling uneasy to if their crush would like a date idea, there are no questions humans shy away from asking the AI bot. A therapist, love interest, corporate buddy and now, even a finance advisor, Sam Altman‘s artificial intelligence platform has embedded itself into human life and no one can do away with it. Recently, ‘The Diary of a CEO’ podcast interviewed passive income expert JL Collins on his podcast and asked about the ‘biggest lies of investing’. During the podcast, Bartlett asked ChatGPT what a ‘normal person’ needs to do to become ‘financially free’ and the advice was shocking!
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What should a normal person do to become rich?
Bartlett, an English entrepreneur and investor who owns multiple businesses asked the AI platform: “I’m a normal person who earns $50,000 a year. I want to be financially free in the future.””Give me a one-sentence answer based on all the wisdom in the world taken from every expert in investing ever,” he added in the prompt. According to ChatGPT, the person with an annual income of $500K should focus on saving, consistently invest in “low-cost, broad-based index funds like the S&P 500,” while living below their means and allowing compounding to work over time. When asked for advice on how to earn more, the AI bot said, “Focus on developing high-demand skills.” “Seek opportunities for career advancement, explore side businesses, or invest in assets that generate passive income like real estate or dividends.”
What does the income expert say?
Collins’ advice on financial freedom matched ChatGPT’s. “Avoid debt. Live on less than you earn, and invest in surplus,” he said. As for methods to earn more, he suggested “develop your skills.” As for what ‘high-demand skills’ could mean in a future with AI, Collins reflected how programming used to be a highly sought-after skill but ‘in the age of AI’ that is not the case anymore.
The future of AI
The announcement comes after OpenAI CEO Sam Altman said that job displacements in the future due to AI worry him the most. “I’m confident that a lot of current customer support that happens over a phone or computer, those people will lose their jobs, and that’ll be better done by an AI,” he said on The Tucker Carlson Show.He shared data someone passed on to him, revealing that the historical average is that 50% of jobs significantly change every 75 years on average. “My controversial take would be that this is going to be like a punctuated equilibria moment where a lot of that will happen in a short period of time,” he added.