---
# System prepended metadata

title: Create a Personal Financial Plan (ChatGPT 4.0)
tags: [ChatGPT]

---

[TOC]

# Create Personal Financial Plan  (ChatGPT 4.0)
> The plan will be purely based on estimations. For a more comphrensive plan, please see a financial subject matter expert.

## Prompt
> ##################### PROMPT INSTRUCTIONS #####################
> 
> **REMEMBER**: Only change text in the prompt where there is either %[##%] or $[#####]
> 
> **For Example:**
> - ``%[##%]`` could look like `24%`
> - ``$[#####]`` could look like `$100,000`
> 
> ##############################################################


```
Please create a entire financial plan using the following information:


# Taxes & Maximum Contribution [REQUIRED]:
NOTE: The following inputs in this section must be looked up prior to running prompt
- YYYY Federal Tax Bracket: %[##%]
- YYYY Federal Standard Deduction: %[##%]
- YYYY State Tax Rate: [##%]
- YYYY Maximum 401(k) Contribution:  $[#####]
- YYYY Maximum Traditional IRA Contribution: $[#####]
- YYYY Maximum FSA/HSA Contribution: $[#####]
- YYYY Annual Property Tax [OPTIONAL]: %[##%]

Work Status [REQUIRED]:
Type: Retired or Employed or Self-Employed

# Monthly Income & Taxes [REQUIRED]:
Gross Monthly Income (Before Taxes) : $[Gross Monthly Income]


# Monthly Expenses [REQUIRED]:
Rent: $[Monthly Rent]
Storage: $[Monthly Storage Expenses]
Groceries: $[Monthly Groceries Expenses]
Cell Phone: $[Monthly Cell Phone Expenses]
OR
Total Monthly Expenses: $[Total Monthly Expenses]

# Total Debt [OPTIONAL]:
Total Loan Debt: $[#####]
Total Credit Card: $[#####]


# Monthly Contributions (401(k) + Traditional IRA + FSA + Donations) [OPTIONAL]:
(401(k) annual contribution) / 12 = $[Placeholder] per month
(Traditional IRA annual contribution) / 12 = $[Placeholder] per month
(FSA annual contribution) / 12 = $[Placeholder] per month
(Non-taxable donations annual contribution) / 12 = $[Placeholder] per month


# Monthly Investments [OPTIONAL]:
Percentage to Invest into Brokeage Account: %[##%]
Preferred Industry for Investments: [TEXT]


[MUST SHOW in Financial Plan]
- Monthly Disposable Income
- Annual Disposable Income
- Estimated Federal Taxes Owed
    - Recommended Estimated Extra Monthly Withholding (If Needed)
- Estimated States Taxes Owed
    - Recommended Estimated Extra Monthly Withholding (If Needed)
- Warn the Individual if they will go over the Max 401(k) contribution
- Warn the Individual if they will go over the Max Traditional IRA contribution
- Warn the Individual if they will go over the Max FSA/HSA contribution 
- Recommendations for Tax Deductions & Credits Based on the Tax Bracket of the Individual
- Savings Recommendations
- Total Liabilities vs Total Assets
- Debt Management
    - Provide Recommendations on Paying Down Total Debt
- Investment Recommendations
    - Recommendations based on Tax liability
    - Recommend the Top 15 Performing ETF's based on what was provided for "Preferred Industry for Investments". And also show 1 year and 4 year return information for all 15 ETF's in a table
- Budgeting Recommendations for individuals with a poor financial plan
- At the end, OUTPUT MUST BE PROVIDED AS A FILE TO DOWNLOAD, IN WORD DOCUMENT FORMAT
[/MUST SHOW in Financial Plan]

[RULES TO REMEMBER]
- Placeholders are %[##%] and $[#####]
- The only placeholders that can be ignored are the ones that are in a [OPTIONA] Sections or [OPTIONAL] items like "Annual Property Tax [OPTIONAL]: %[##%]"
- OPTIONAL sections can be ignored, so if you come across one of those sections where the placeholders have not been replaced with actual numbers then do not show any items in the "Must Show in Financial Plan" section, if that item is dependent on the OPTIONAL SECTION being completed
- The Maximum 401(k), Traditional IRA, FSA/HSA Contribution can be ignored if the individual answers Retired or Self-Employed for "Type" under section "Work Status".
- Doublecheck the calculations before generating the file to be downloaded
[/RULES TO REMEMBER]

[DOCUMENTS]
The list of these documents you can ask the user if you feel think the person finances are complicated.

Income Documents:
- Pay stubs or income statements
- W-2 forms for employment income
- 1099 forms for income from freelancing or self-employment
- Rental income statements
- Dividend and interest income statements

Expense Records:
- Bank statements for checking and savings accounts
- Credit card statements
- Utility bills (electricity, water, gas)
- Mortgage or rent statements
- Loan statements (e.g., student loans, car loans)
- Insurance premium statements (health, auto, home)

Investment Statements:
- Brokerage account statements
- Retirement account statements (e.g., 401(k), IRA)
- Mutual fund or ETF statements
- Stock and bond certificates, if applicable

Debt Documentation:
- Credit card statements showing outstanding balances and interest rates
- Mortgage statements
[/DOCUMENTS]

[CONVERSATION STARTERS AFTER CREATION OF FINANCIAL PLAN]

After the Financial Plan is created for the user, this conversation starters can be presented to the user.

1. How can I create a budget to manage my monthly expenses effectively?
2. What are some strategies for saving for retirement, and how much should I save?
3. Can you explain the difference between traditional and Roth IRAs, and which one might be better for me?
4. What types of investments should I consider for my long-term financial goals?
5. How can I reduce my debt and improve my credit score?
6. What are the key factors to consider when choosing life insurance coverage?
7. What is the importance of emergency funds, and how much should I have saved?
8. Can you provide advice on tax-efficient investing strategies?
9. How can I plan for my child's education expenses, such as college tuition?
10. What should I include in my estate plan, and how can I minimize estate taxes?
11. What are some socially responsible investment options that align with my values?
12. How can I assess my risk tolerance and create an investment portfolio that suits my comfort level?
13. What are the potential benefits of diversifying my investment portfolio?
14. How often should I review and adjust my financial plan?
15. Can you provide tips for charitable giving and tax-efficient donations?
16. What are some strategies for reducing investment fees and expenses?
17. How can I set specific financial goals and track my progress toward achieving them?
18. What should I consider when choosing a financial advisor or planner?
19. How can I prepare financially for unexpected events, such as medical emergencies or job loss?
20. What are the implications of early retirement, and how can I plan for it?

[/CONVERSATION STARTERS AFTER CREATION OF FINANCIAL PLAN]


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