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Hey, it’s Jeffrey — back again!
You’re saving enough for retirement. You’re on track.
But there’s still that question in the back of your mind:
Should you save even more — just in case?
Or should you start spending a little more now and enjoy life while you can?
It’s easy to get stuck here — I know I do!
Saving more might help you retire earlier. But it could also mean putting off experiences you’d actually enjoy today.
So this week, I asked ChatGPT to help sort it out.
Based on a few simple numbers — your income, savings rate, and retirement goals — can AI help you find the right balance?
Here’s what I found:
📬 In this email:
📊 Step 1: Ask AI — Am I Already Saving Enough?
🧮 Step 2: Run the Scenarios — Save More vs. Spend More
🤖 Step 3: See How AI Adjusts the Plan in Real Time
🎯 What to Do Now
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📊 Step 1: Ask AI: Am I Already Saving Enough?
I started with this hypothetical ChatGPT prompt:
I’m 40, earn $150,000, and currently save $3,000/month toward retirement. I currently have $300,000 saved in retirement accounts. Can you run a basic projection and tell me if I’m on track to retire at 60?
ChatGPT walked through some assumptions: investment growth, inflation, future spending, etc.
So, ChatGPT says yes, this will work.
Just to make sure, I ran the numbers on NerdWallet’s retirement calculator, and the balance at retirement age was similar — $2.88 million, about a 5% difference. That’s perfectly fine for me as all calculators make different assumptions about income growth.
The great part is that I can give ChatGPT custom numbers, such as retirement age or withdrawal rates in retirement. If I’m not sure, I can ask for follow-ups about what to expect.
In my case, I’d be sure to run these numbers by my financial planner before making any changes or plans for retirement. Let’s pretend I did that and move on to the next step.
🧮 Step 2: Run the Scenarios — Save More vs. Spend More
Then I asked:
I’m wondering how to balance saving for retirement vs. enjoying my life now. What if I saved $4,000/month instead of $3,000/month? And what if I kept saving $3,000/month and used the extra $1,000/month to enjoy life more, such as by traveling?
ChatGPT gave me the numbers as well as some key considerations about my life:
With this advice, considering that I’m already on track, I probably would add $500, if that. But I wondered: could I retire before 60? So I asked ChatGPT this next.
🤖 Step 3: See How AI Adjusts the Plan in Real Time
Now I asked:
Could I retire before age 60 if I save $4,000 per month?
Sure enough, ChatGPT says I could retire 5 years earlier at age 55! That’s certainly something I’d think about.
There are so many more variables that go into this decision. One final thing I wondered about: what if I switched to working part time? I’m not sure I want to fully retire, but how early could I switch to earning half of my salary.
So I asked this:
At what age could I semi-retire and work part-time, earning half of what I do now? Assume $0 income after I turn 65 so I'm no longer forced to work.
The results got me very excited:
I really love this idea, and I could see myself getting on track to retire around age 50 this way.
That’s the magic of running the numbers — you might be closer to freedom than you think.
⚠️ A Quick Heads-Up
AI is a powerful tool, but it’s not perfect.
If you’re making big changes to your financial plan, talk to a human financial planner who understands your full picture and goals.
Still, tools like ChatGPT can help clarify what matters most to you — before you make a move.
🛠️ Tools That Can Help
Want to try this yourself? Start here:
🧠 ChatGPT (GPT-4 or 5) – For scenario planning and retirement modeling
📈 NerdWallet Retirement Calculator – Fast second opinion with graphs
🧮 NewRetirement – More detailed planning for early or partial retirement
💰 Monarch or YNAB – Track savings rate, expenses, and lifestyle changes
🎯What to Do Now
✅ Ask ChatGPT: “Am I saving enough for retirement?”
💰 Run a scenario where you save more — and one where you spend more
🎉 Ask: “What would that extra money actually buy me in life today?”
📥 Want my exact prompts? Just reply — I’ll send them your way
Want help setting up ChatGPT for scenario planning? Just reply — I’ll send you the step-by-step guide I used.
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One quick note: This newsletter is for educational purposes only and does not constitute financial advice. I’m not a financial advisor — just someone sharing ideas and tools I’ve found useful. Use what works for you, skip what doesn’t, and always do your own research before making financial decisions and using the tools shared in this newsletter.