Theoretically it would be possible to:
I am wondering if anyone has done this? I am tempted to but it’ll take me hours to connect all my accounts and I would rather avoid that if someone else has already tried and failed.
i’ve used gemenai to help with formulas and explanations, but depending on what you want it to do, it’ll get more complicated.
Depending on the type of connection you have with gemenai, it won’t be able to fill the sheet directly (if you wanted it to fill out the plan for you) it can output certain excel that you can copy back in. It really goes back to what do you want it to analyze for.
I used ChatGPT and created an awesome all around financial package that includes custom tax, debt, retirement, and dashboards
This is awesome. Have you considered sharing?
I fed Gemini a screengrab of my “Balances” tab and provided guidance/prompts around what I was expecting in terms of retirement- start date/annual expenses/etc., etc. Generally speaking, I thought it did a nice job but, as is the case with all AI tools currently, you will need to stay on top of the responses as there are still too many errors. I kept pushing and prompting and ultimately received answers/direction with which I felt was realistic and actionable. Would I allow it to replace a dedicated tool such as Boldin/Income Lab/Pralana/et al.? No way. But for quick a dirty validation as well as the ability to ask it anything- I think there is value here.
Yes! I will make a clean copy and share with you.
I don’t think Gemini would be able to provide a useful plan without building a significant framework to guide the LLM through a financial planning process and providing a bunch more data. Most of the inputs required for financial planning wouldn’t be found in your spending history and account balances. You need to know things like people’s values, long-term goals, family dynamics, age, career, dreams, etc.
But thats all info we can input into the prompt, right?
Transactions and balance history data? Why would that be it? You can input whatever you like into LLMs. My point is just that similar to a human financial planner, you can’t just give them a list of transactions and expect them to come up with a useful financial plan, there’s just not enough information relevant to the planning process. Unless I’m misunderstanding what you mean by “financial plan”? Like, if you want an LLM to analyze your spending and come up with some insights sure it can definitely do that.
I created one in Claude, but it should work in Gemini as well. It created a very good plan. How do i know? I used my Boldin plan to fine tune it. I would have Claude compare its plan to the Boldin plan to identify any differences and things I had missed. After a few revisions, the plans were quite comparable.
BUT, I hit a major security concern after i rushed into it. I had loaded a lot of private info into the cloud of the unknown. I used account snapshots and actual financial pdfs. I cleaned it all out (assuming residual data isnt retain by Anthropic), but not sure it is the safest way to go about it. In hindsight, if you create a doc of account id (not real #) with balances and info for pension, ss benefits, etc rather than the actual docs then it should be safe.
WIth that caveat, this is how one would theroretically do it. As they say, this is for educational purposes only.
–Create a Claude project in the Claude.ai on the web.
–In the instructions module of the project, create a outline of facts for Claude to read and always be aware of. In this section, state the the objective is to create a financial plan, state your age, sex, marital status, spouse info. Include your goals like I want to retire at 62 and leave a legacy amount to beneficiaries of $x and your project your life expectancy to be x. That enough to start.
–Then go to work with the chat. “Lets build a financial plan. Please create it in a docx format. Also periodically create an updated profile.md.”
–These steps will get things rolling. The profile.md will be used to manually refresh the instructions module so that Claude stays informed about all the facts over time and as you move from chat to chat.
Continue with the dynamic chat. Just have a conversation. It may ask you questions, but it will generate your first version of the financial plan. Review it.
MAJOR POINT. The plan is only as good as what you put into the review. You MUST read it, and use logic. Challenge it. It will give bad advice. So challenge it again. If you just accept it as is, it will be crap. 95% of what it kicks out I felt was good based on my knowledge and comparing it to my Boldin plan. I actually put my Boldin plan into the file repo and ask for it to ingest it and compare.
–Specifically ask it whats next, are there best practices that have been missed, etc. It will continue to ask for information and expand on the plan. Just go with the flow until you feel its complete and the plan is solid. REVIEW, QUESTION, REPEAT. Its really the same steps you would do if you sat down with an advisor. You should never take an advisor’s suggestions on its face value without challenging. Same process.
As mentioend, periodically ask Claude to update the profile.md with what has been done to date. Claude does use different terminology between the chat and the webpage. The profile.md content is cut and pasted into the Instructions module. This is key as Claude reads the instructions (profile) everytime so it knows what has been discussed.
Other info: Claude can’t create google docs, but the docx is actually store as a pdf in the file repo. I request docx as it gives it a pretty format. Tell it to only create refreshed docs when told otherwise it will jump right into refreshing the docs and you waste a lot of resources (tokens) as it creates fresh versions of everything.
If one has their docs and snapshots gathered to paste into the chat, this will take like 30-60 minutes. Onecould also just type in the info directly into chat if you want. Like “I have an ira with $40k, and a roth with $10k, and a ss benefit projection of $2500.mo starting at age 62”.
It can be done on the free account; mainly if you do it in the off hours. I am a night owl and I noticed that at night, you can do quite a bit without it pausing for 3 hours+ or saying the resource allocation is used up for the day.
Note what can be done in the future, like in a year, is just recall the project. Start a new chat. Update balances by typing them into the chat. Add changed info, etc. And you should be able to get a refreshed financial plan.
That my view of it…good luck.
After all of that, I never mentioned, i did update tiller transaction history and budgets so it could understand my expenses for withdrawals strategy. Definitely don’t recommend that. When I got concerned about the ‘too much private data’ i had it ingest, Claude actually called out that “yes, I had included all of my transaction history and that exposed alot” and that Claude wouldnt recommend it. So ultimately, I think the question isn’t using Tiller as part of creating your financial plan in AI. You can create a financial plan in AI, I just would not try to automate Tiller into it. (It can be done, just don’t).
