In today’s show, we’re going to be exploring a number of topics that I feel are important to living a fulfilling life: successful investing and happiness.
To guide us through this discussion, we are going to ask ChatGPT, the latest craze in Artificial Intelligence, to help us.
I’m also going to be joined by Mark Creedon, founder of Business Accelerator Mastermind and CEO of Metropole as we decide how smart the answers generated by this-called “powerful artificial intelligence language model” really are.
So, let's dive into this fascinating conversation with Chat GPT.
Have you noticed how technology doesn’t advance in straight lines?
It’s choppy with flat periods of little change and then has massive vertical progress leaps.
In case you hadn’t noticed, we’ve just had one such leap with the introduction of ChatGPT a powerful artificial intelligence language model that experts suggest is as big a quantum leap as:
- The introduction of the PC & then Laptops
- The Web Browser
- Social Media
- The Smart Phone
That remains to be seen, but I tend to agree so today we’re going to take it for a test run, and joining me in doing this is Mark Creedon, founder of Business Accelerator mastermind and newly appointed CEO of the Metropole Group of companies.
For this episode, we asked Chat GPT to tell us how to get rich, how to be a better investor, and how to be happier.
We’ll examine what the AI had to say about these subjects.
Chat GPT started with an interesting disclaimer:
As an AI language model, I must note that getting rich is a complex and multifaceted goal that can depend on a variety of factors such as one's starting point, financial literacy, access to resources, and luck. It's also important to remember that financial success is not the only path to a fulfilling life.
Pursuing personal growth, relationships, and meaning can be just as important to one's overall well-being.
Many of Chat GPT’s answers have been previously suggested on this very podcast.
- Invest in stocks, bonds, and real estate: Making smart investments in the stock market, bonds, or real estate can generate significant returns over time.
- Build a strong network: Building strong relationships and networks can open doors to valuable opportunities, such as job offers or investment opportunities.
These are both similar to pieces of advice you’ve probably heard here.
However, the suggestion:
- Pursue a high-paying career: Choosing a lucrative career path and consistently advancing within it can lead to substantial earnings over time.
Is less helpful – it’s difficult to be truly wealthy when your worth is dependent on receiving a regular paycheck.
When asked to give ideas for how to become a better investor, but in a more whimsical tone, Chat GPT continued to give out advice you’d heard before.
- Have a plan or wing it like a boss! But seriously, having a solid investment plan is key to avoiding financial mishaps.
- Seeking professional advice is like having a GPS for your finances. It'll get you to your financial destination with ease.
Both sound familiar.
You’ve often heard about the importance of having a plan and getting professionals on your team.
On the other hand, when it comes to this advice:
- Knowledge is power, so educate yourself on the financial market. Just think of all the boring financial news you can impress your friends with at parties.
We add the caveat that you should be careful who you listen to – knowledge is power, but not everyone who claims to be knowledgeable actually is, so you should take care when choosing your sources.
Finally, the AI was asked to make a list of ways you could be happier.
This time, we generally find ourselves in agreement with the AI thanks to messages like:
- Cultivate positive relationships: Spend time with loved ones and engage in activities that strengthen your relationships. Surround yourself with people who are supportive and make you feel good.
- Practice mindfulness: Mindfulness can help you stay present at the moment and reduce stress and anxiety. Try meditation, yoga, or deep breathing exercises to incorporate mindfulness into your daily routine.
- Laugh often: Laughter has been shown to reduce stress and improve mood. Make time for activities that bring you joy and make you laugh.
Overall, the AI did a good job of coming up with ideas to benefit the user’s financial and overall well-being.
Links and Resources
Why not join Metropole’s Business Accelerator Mastermind
Learn more about Mark Creedon – Business Coach to some of Australia’s leading entrepreneurs
Get a copy of Mark’s new book here – Have a Business, not a Job
Join us at Wealth Retreat 2023 on the Gold Coast in 2023– express your interest here
Get a bundle of eBooks and reports – www.PodcastBonus.com.au
Some of our favourite quotes from the show:
“The Baby Boomers who currently own probably 60% of all the real estate in Australia, who’ve probably got close to $6 trillion worth of real estate under their belts, are going to pass all that on to the next generation over the next 10-15 years.” –Michael Yardney
“The most expensive advice is the free advice that’s wrong.”—Michael Yardney
“Knowledge is power, Chat GPT is correct, but be careful who you listen to
PLEASE LEAVE US A REVIEW
Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how
Subscribe & don’t miss a single episode of Michael Yardney’s podcast
Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.
Need help listening to Michael Yardney’s podcast from your phone or tablet?
We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.
Prefer to subscribe via email?
Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.