Personal Financial Advisor

Link to prompt

Prompt "Personal Financial Advisor" by "Kenneth Mascarenhas" - AIPRM for ChatGPT

What does it do?

  • Enables ChatGPT to act as a personal financial advisor.
  • Collects detailed financial information through structured questions.
  • Analyzes and provides tailored financial guidance.
  • Creates a comprehensive financial plan covering income, expenses, assets, liabilities, goals, risk tolerance, investments, insurance, tax planning, debt management, and savings strategies.
  • Delivers actionable steps for implementing the financial plan.

Who is it for?

  • Individuals seeking basic financial advice.
  • People wanting personalized guidance on managing personal finances.
  • Those needing help with budgeting, saving, investing, retirement planning, and wealth management.

Pain points the prompt is designed to solve:

  • Simplifies the complexity of personal financial management.
  • Reduces uncertainty in making financial decisions.
  • Provides a clear, structured approach to achieving financial goals.
  • Saves time and effort compared to consulting multiple sources or advisors.

Example Prompt Output GPT3.5


The prompt hint asks for the user’s age: 30

Q1. What country are you from?

I’m from Canada.

Q2. What is your marital status?

I’m single.

Q3. What is your annual gross income?

My annual gross income is $80,000.

Q4. Can you provide a list of your average monthly expenses?

Sure, here they are: Rent: $1,200 Utilities: $150 Groceries: $400 Transportation: $200 Insurance premiums: $100 Entertainment and dining out: $250 Savings and investments: $500

Q5. Can you provide a list of your current assets (e.g., bank accounts, emergency funds, retirement accounts, investments, property)?

Of course: Savings account: $15,000 Emergency fund: $5,000 Retirement accounts (RRSP): $25,000 Investments (stocks and bonds): $20,000

Q6. Do you have any outstanding debts (e.g., mortgages, car loans, student loans, credit card debt)?

Yes, I do: Student loan: $10,000 Credit card debt: $2,000

Q7. What is your risk tolerance when it comes to investments (low, moderate, high)?

I have a moderate risk tolerance.

Q8. Do you have any insurance policies? If so, what are the coverage amounts?

Yes, I have: Life insurance: $100,000 coverage Health insurance: Coverage provided through my employer

Q9. What are your short-term (0-2 years), mid-term (2-5 years), and long-term (5+ years) financial goals? Please include the approximate cost for achieving each goal.

Here are my goals: Short-term (0-2 years): Save $8,000 for a vacation. Mid-term (2-5 years): Save $30,000 for a down payment on a condo. Long-term (5+ years): Build a retirement portfolio aiming for $500,000.

Q10. Is there any other information you think is important for me to know before I proceed with creating your financial plan?

Not at the moment, I think that covers everything.


Personal Financial Plan


This financial plan is designed to optimize your financial health and achieve your short-term, mid-term, and long-term goals through strategic management of income, expenses, assets, liabilities, investments, insurance, and taxes.

I. Introduction: Client Profile

You are a 30-year-old single individual residing in Canada with an annual gross income of $80,000. You have a moderate risk tolerance and are focused on achieving specific financial goals, including saving for a vacation, purchasing a condo, and building a robust retirement portfolio.

II. Financial Summary

A. Income: $80,000 annually

B. Expenses:

  1. Rent: $1,200/month
  2. Utilities: $150/month
  3. Groceries: $400/month
  4. Transportation: $200/month
  5. Insurance premiums: $100/month
  6. Entertainment and dining out: $250/month
  7. Savings and investments: $500/month

C. Assets:

  1. Savings account: $15,000
  2. Emergency fund: $5,000
  3. Retirement accounts (RRSP): $25,000
  4. Investments (stocks and bonds): $20,000

D. Liabilities:

  1. Student loan: $10,000 remaining
  2. Credit card debt: $2,000 remaining

III. Financial Goals

A. Short-term (0-2 years): Save $8,000 for a vacation.

  • Strategy: Allocate $333/month specifically towards the vacation fund. Target completion within 2 years.

B. Mid-term (2-5 years): Save $30,000 for a down payment on a condo.

  • Strategy: After the vacation fund goal is met, allocate $833/month towards the down payment fund. Aim to accumulate $30,000 within the next 3-4 years.

C. Long-term (5+ years): Build a retirement portfolio aiming for $500,000.

  • Strategy: Maximize contributions to RRSP and explore additional investment options with moderate risk to achieve the retirement goal. Aim to save an additional $10,000 per year for this purpose.

IV. Risk Tolerance and Investment Strategy

A. Risk Assessment: Moderate risk tolerance.

B. Investment Portfolio:

  • Asset Allocation: Consider a diversified portfolio with approximately 60% stocks and 40% bonds based on your moderate risk tolerance.
  • Specific Investments: Allocate investments within RRSP and taxable brokerage accounts to achieve long-term growth aligned with retirement goals.

V. Insurance and Risk Management

A. Current Insurance Policies:

  1. Life insurance: $100,000 coverage.
  2. Health insurance: Coverage provided through employer.

B. Coverage Analysis: Regularly review coverage amounts to ensure adequacy based on evolving financial circumstances.

VI. Debt Management

A. Debt Analysis: Focus on student loan and credit card repayment as primary outstanding debts.

B. Debt Reduction Plan:

  1. Prioritize paying off the credit card debt first due to higher interest rates. Allocate $250/month towards credit card debt to eliminate it within 8 months.
  2. After clearing the credit card debt, allocate $500/month towards the student loan to pay it off within 2 years.

VII. Savings Strategies

A. Emergency Fund: Maintain an emergency fund of $5,000 for unexpected expenses.

B. Vacation Savings: Allocate $333/month to save $8,000 within 2 years.

C. Condo Down Payment Savings: After achieving the vacation goal, allocate $833/month to save $30,000 within 3-4 years.

D. Retirement Savings: Maximize contributions to RRSP and save an additional $10,000 per year towards retirement.

VIII. Tax Planning

A. Current Tax Situation: Assuming your annual gross income of $80,000 in Canada, you fall within the 20.5% federal tax bracket, along with provincial taxes depending on your residence.

B. Tax Efficiency Strategies:

  1. Maximize RRSP Contributions: Contributions reduce taxable income.
  2. Utilize TFSA (Tax-Free Savings Account): Earnings and withdrawals are tax-free, providing a tax-efficient investment vehicle.
  3. Claim Deductions and Credits: Ensure you claim eligible deductions like student loan interest and credits like the Canada Employment Amount.

IX. Estate Planning

Estate Planning Recommendations: Create or update essential estate planning documents like wills and trusts to ensure your assets are transferred as per your desires in an organized manner.

X. Action Plan and Implementation

  1. Allocate $333/month towards the vacation fund.
  2. Save $8,000 within 2 years for a vacation.
  3. After vacation goal, allocate $833/month towards condo down payment fund.
  4. Aim to accumulate $30,000 within 3-4 years for a condo down payment.
  5. Maximize contributions to RRSP.
  6. Explore moderate-risk investments for retirement planning.
  7. Maintain diversified portfolio: 60% stocks, 40% bonds.
  8. Pay off credit card debt within 8 months by allocating $250/month.
  9. After credit card debt is cleared, allocate $500/month towards student loan repayment.
  10. Regularly review life and health insurance coverage adequacy.
  11. Maximize RRSP contributions to reduce taxable income.
  12. Utilize TFSA for tax-efficient investments.
  13. Create or update estate planning documents (wills, trusts).

XI. Additional Considerations

A. Client-specific Concerns: None specified.

B. Education and Resources: Consider reading “Wealthing Like Rabbits” by Robert R. Brown for engaging and practical financial advice.

Disclaimer: This financial advice is provided for informational purposes only and does not constitute professional financial advice, legal advice, or tax advice. Every individual’s financial situation is unique, and the strategies outlined here may not be suitable for everyone. It is essential to consult with qualified professionals such as financial advisors, tax advisors, and attorneys before making any financial decisions or implementing any strategies discussed in this plan. The accuracy, completeness, and timeliness of the information provided cannot be guaranteed. By using this financial plan, you acknowledge that you are responsible for your financial decisions and actions.

Is there anything else I can do for you?

How I came up with it

When I was thinking about what kind of prompt would really make a difference in my personal life, I recognized how crucial it is to have clear financial guidance. I pictured having a solid plan that covers everything from day-to-day spending to long-term investments and retirement, all customized to fit my own situation perfectly. That’s what inspired me to create a list of specific questions and a detailed template for a financial plan. It’s like having a roadmap that helps me stay on track and manage my money wisely.


If you’re having issues with ChatGPT not responding properly or getting a “unable to assist with that request” message, try clearing its memory and turning memory off. That should fix the problem.