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    Home»Investment»This might be the dumbest thing I’ve ever done — The Barefoot Investor
    Investment

    This might be the dumbest thing I’ve ever done — The Barefoot Investor

    By Staff WriterJuly 9, 20253 Mins Read
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    This might be the dumbest thing I’ve ever done.

    Microsoft — the company actively building AI robots — ran a survey that found nearly half of workers are scared AI will take their job. 

    Well, I’m about to show you three ChatGPT prompts that prove them right.

    Use them, and you might not need me anymore!

    How to Set Up a Barefoot Buckets Plan in 10 Seconds

    Let’s say someone earns $3,400 a month, pay $1,300 in rent, $400 on groceries, $170 on bills, and $280 on a car loan.

    I typed this into ChatGPT:

    I want you to advise me on setting up my Barefoot Investor Buckets. I earn $3,400 a month. My regular expenses are: rent $1,300, groceries $400, bills $170, car loan $280. Can you help me divide my money into:

     Blow (to live)
     Mojo (to sleep at night)
     Grow (to get ahead)

    If I’m stuffing it up, give it to me straight, and give me advice on how to fix it. 

    Within 10 seconds it gave me a personalised breakdown — and this absolute pearler:

    “Once the car loan is gone → funnel the full $680/month into long-term investments or house deposit savings.”

    Then it followed up with three top-rated no-fee bank accounts that align with the Barefoot strategy (I checked — all legit). This thing doesn’t just talk in generalities. It gives specific, practical answers.

    How to Save $600 a Month on Your Home Loan (in One Phone Call)

    Demo

    A friend told me she was on 6.2% with a three-letter named bank. On a $600,000 loan, that’s over $37,000 a year in interest. Here’s what I had her plug into ChatGPT:

    I’ve got a home loan of $600,000 with XXX BANK  at 6.2%.

    Can you help me:

    See if I’m getting a good deal
    Find better options with lower interest rates and provide live links
    Write a script I can use to negotiate with my bank

    Finally, show me how much I’d save by switching, including your maths workings so I can check it.

    It crunched the numbers for my friend, listed a bunch of different lenders offering lower rates, and handed her a negotiation script:

    “I’ve been a loyal customer, but I’ve seen you’re offering better rates to new borrowers. Can we talk about matching those?”

    Guess what?

    She got off the phone with a better rate!

    How to Build a $45,000 Nest Egg for Your Grandchild

    Forget the piggy bank. Give your grandkids the magic of compound interest.

    To get you started, type this prompt into ChatGPT:

    Based on the principles in The Barefoot Investor, advise me on setting up a long-term investment account for my grandson. I want to invest $100/month until he’s 18.

    Can you help me:

    Choose a simple ETF or recommend a platform
    Explain how to automate it
    Show me what it might grow to at 8% over 18 years
    ChatGPT delivered a full plan — investment options, automation instructions, and a final figure: $45,000+.

    It even suggested writing a letter to your grandkid explaining the gift. Brilliant.

    Use It Like a Tool (But don’t be a tool)

    Look, ChatGPT isn’t perfect. It can make mistakes. And it’s absolutely not a financial advisor.

    Yet it’s fast. It’s specific. And it’s helpful. Think of it as a clever assistant that works 24/7, doesn’t take lunch breaks, and doesn’t try to sell you crypto.

    And once you’ve tried it, you might not need me.

    (Just don’t tell my kids.)

    Tread Your Own Path!

    P.S. Just to be clear: I wouldn’t outsource any major life decisions to a chatbot, and I strongly suggest you don’t either. I’ll say it again: do not trust this thing with your life savings. That’s like asking your air fryer to do your tax return. You’ll get cooked, and not in a good way!

    View original article here

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