When can you retire? Or, at least, make work a choice? If you’re making big waves in your space, you could be due for a big payout when your business sells to the highest bidder. Even before then, if you’re generating significant levels of cash, how you invest it now could mean you sail off into the sunset faster than you imagined.
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. Keep the same chat window open so the context carries through.
Achieve financial freedom faster with ChatGPT
Know your numbers
Without getting your head around the numbers involved, any plan you make won’t have strong foundations. Know where you are to plan 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].”
Design your days
If you didn’t have to work, how would you spend your time? Would you have breakfast out every day, visit a theme park every week or nap all afternoon in front of a film? If you don’t plan it out, it’s anyone’s guess. Ask ChatGPT for a sample timetable, so you can decide financial freedom is what you really want for your life. While this might not contribute to faster financial freedom, 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.”
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, surely you can figure out a way to earn more or spend less, or a bit of 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.”
Visualize it happening
If you can see it, you can achieve it. Visualize yourself stepping back from work and into a life where you don’t need to do it. Ask ChatGPT for an inspiring scene that brings it to reality so you can imagine how you’ll feel when it inevitably happens. Dig into which parts you’re looking forward to and what you’ll miss. These answers hold clues.
“Describe a dramatic scene in which a person named [your name] becomes financially free and stops working. Their current role is [your current role] and they are going to [the first thing you’ll do when you retire]. In this scene there should be crowds, celebrations and joy as they look forward to their next chapter.”
Make your plan
You know what the endgame looks like, now you just need the actions in between. 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 reaction 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.”
ChatGPT prompts to be financially free much faster
If you want to be free from the need to earn money, get help in making your plan. With the help of ChatGPT, you can understand your numbers and visualize the exit happening. Outline the steps that take you there then figure out how to do it faster. Finally, think about how you’ll spend your time. Financial freedom is possible, but not without thinking about it now. Make every part of your life intentional and see what you can do.
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October 24, 2023 at 07:00PM
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5 ChatGPT Prompts To Achieve Financial Freedom Faster - Forbes
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