In 2023 our founder, Ronald W. Rogé, wrote a lighthearted article using Artificial Intelligence (AI) titled, “2023: An Earth Odyssey,” a nod to the 1968 movie “2001: A Space Odyssey.” At the time, AI was still a novel idea with impressive but limited capabilities. Ron ended the article with this thought:
Right now, AI is in its infancy and providing useful services and saving a considerable amount of time in doing research and presenting the requested information. There is legitimate concern for misusing AI to perform nefarious operations. However, it will take some time for the industry and government to regulate this exciting technology. If you read the history of new technology and its effect on job elimination and the economy, you will realize that AI will work its way into the fabric of society just like other transformative technologies of the past.
Now, just a few years later, AI has already become part of everyday life. In fact, global use of AI tools has doubled in the past two years, and millions of people are now turning to platforms like ChatGPT for quick answers about health, careers, and yes, even money.
With that backdrop in mind, we decided to put ChatGPT to the test with one of the most common questions we hear: “How can I retire comfortably?”
ChatGPT’s Answer
The response covered many of the basics you might expect, including:
- Defining what “comfortable” means to you
- Saving early and consistently
- Diversifying investments
- Planning for healthcare costs
- Creating an income strategy
- Being tax-efficient
- Reducing debt
- Protecting against risks
- Running projections and stress tests
- Finding purpose beyond finances
Not bad advice, right? In fact, much of what AI listed aligns with the same principles we use every day when designing comprehensive retirement plans for our family of clients. But retirement planning is more than just a checklist.
Here’s Where AI Stops, and Human Guidance Begins
- Personalization Is Everything. AI can’t understand your family dynamics, charitable goals, career path, or lifestyle vision. Saving “15–20% of income” might work in theory, but what if you’re starting later in life, managing concentrated stock, navigating a business sale, or supporting multiple generations? Those nuances require conversation, curiosity, and judgment.
- Tax Strategies Require Reasoning. ChatGPT says “stay tax efficient.” Sure, but how? Real tax planning involves decisions about when to take income, which accounts to draw from, if and when Roth conversions make sense, and how to avoid unintended consequences like Medicare premium surcharges. One poorly timed move can cost thousands of dollars. In fact, Vanguard research shows a thoughtful withdrawal strategy, coordinating taxable, tax-deferred, and tax-free accounts, can enhance tax efficiency and increase the likelihood of sustaining retirement income.
- Behavior Still Drives Outcomes. One of the biggest threats to retirement portfolios is often human behavior and how we react under pressure. DALBAR’s long-running studies consistently show that the average DIY investor underperforms the market by several percentage points annually, largely because of emotional timing errors like selling at the wrong time, chasing returns, or abandoning well-designed plans during periods of stress. The average equity investor lagged the S&P 500 by 5.5% in 2023, largely due to behavioral missteps. Over three decades, the average equity investor has underperformed by about 2.14% per year, on average. AI can explain why staying invested matters, but it can’t answer your nervous phone calls, listen to your concerns, help resist destructive impulses, or implement strategies so you can stick to a long-term path even when the headlines are scary.
- Estate & Legacy Planning. For many people retirement is about living well and leaving a legacy. Estate planning, charitable giving, and multi-generational strategies require sensitivity, customization, and coordination with other professionals. This is well beyond what AI can provide.
- Trust, Empathy, and Soft Skills Still Matter Most. A recent survey shows that advisors themselves believe soft skills like empathy, communication, and relationship-building matter more than technical expertise alone. That’s because the heart of financial planning is deeply personal. It’s about how you’ll spend your “golden years,” what kind of legacy you’ll leave, your loved ones, loss, opportunity, and change. These conversations require trust, emotional intelligence, and context, qualities that technology can support, but never replace.
Survey Says: The Best Outcomes Come from Human Plus Technology
One of the most promising findings from recent industry research is how AI is already being used effectively within the financial industry. Many advisors are using AI behind the scenes for administrative tasks like summarizing meeting notes or organizing information. That means less time being spent on paperwork, and more time for meaningful client conversations. When used responsibly, AI actually allows financial advisors to be more present. There’s also growing evidence that people are more confident and more likely to follow through when technology supports human advice, rather than replaces it. AI can provide efficiency and insights, while humans provide judgment, accountability, and care.
So … Can AI Help You Retire Comfortably?
If you’ve ever read the classic science fiction novel “Do Androids Dream of Electric Sheep?” by Philip K. Dick (or seen the movie “Blade Runner” it inspired) you’ll remember that it raises timeless questions about what separates humans from machines. Technology may evolve, but what truly matters are distinctly human qualities like understanding trust, empathy, fear, hope, family, and purpose. In retirement planning, those qualities are what transform financial advice into a meaningful plan for your life and legacy.
AI or a Fee-Only Financial Planner: What’s the Right Next Step?
AI tools can be a helpful starting point, but lasting financial confidence comes from a relationship built on trust and care. It also can’t replace the judgment, personalization, and accountability that come from a trusted partnership.
Research suggests that working with a financial advisor can add meaningful, quantifiable value through behavioral coaching, tax strategy, and disciplined portfolio management. In fact, working with a financial advisor can potentially add up to or even exceed about 3% in net returns when using a comprehensive advisory framework, plus most people who work with a financial planner report feeling more confident about their financial future.
A fee-only financial planner can help translate information into a thoughtful strategy, considering taxes, behavior, life changes, and long-term goals along the way. When decisions feel complex or emotionally charged, having a fiduciary in your corner who understands your full financial picture and can provide strategies that are in your best interest can make all the difference. The right next step is simply deciding when human guidance matters most, and whether your financial decisions are too important to navigate alone.
If you have any questions or need personalized wealth management guidance, our team of CERTIFIED FINANCIAL PLANNERTM (CFP®) professionals would be happy to assist. We can show you how our financial planning process can help you stay on track and achieve your financial goals. Please contact us for a complimentary discovery call at 631.218.0077. You can also send us a message directly.
R.W. Rogé & Company, Inc. is an independent, fee-only financial planning and investment management firm serving clients locally and virtually across the country, with Long Island, New York, and Beverly, Massachusetts office locations. R.W. Rogé & Company, Inc. was founded on a “client first” culture and proudly commits to acting in your best interest as a fiduciary. We have helped clients Plan, Achieve, and Live® the life they want since 1986. To learn more about how we do this, explore our detailed overview of services and approach.
