Transcripts
1. Introduction: Problem these days is there's so much information on how
you should be managing your money and what you
should be investing in that it puts you
into a state of paralysis and you don't actually know what's the best
thing to invest into, what budgeting technique
to use because these things are just
not taught in school. I studied finance
for three years, and I've now worked in the banking industry for
a further two years. I remember as soon
as I graduated from university and I started my
banking career in London, I bought a flat outside of
London. I bought a car, I found I had so many
different living expenses. I found that I was
actually making really good money for the
first time in my life, but I didn't know
how to manage it. I didn't know where
to invest my money. I didn't know the best
budgeting techniques to do. And I was in that
state of paralysis, and it took me a while to figure out where I should
be putting everything. But that was until I found AI, and AI has really revolutionized my ability to save money
in the correct way, invest it into the
correct things, and just grow my
wealth so that I can actually be in a brilliant position in a few years time. And that's what I'm
doing in this course. I'm going to share my
experiences with AI. I'm going to show
you exactly what I've learned over
the past two years. And hopefully, you can
at least take 20 pert, 25% of what I'm going to say and apply it to
your own finances. So in this course, Module
one is just getting the basics of AI understood how to do
the correct prompts. Module two is going
a little bit deeper into the different
AIs, hat GBT, Gemini, and how you can use that for your budgeting and get the correct budgeting
technique that suits you. And then finally, we're
going to move on to portfolio construction and how you can invest in
the stock market. That suits you
because the amount of people I see investing
in the stock market, investing in the
things which just do not suit their long term goals. And by the end of this course, you're going to
know so much more, and you're going
to wonder why you never did this any sooner. So, come on, let's get
in to the first lesson.
2. Golden Rules of Prompting: You've been using AI for
your personal finance, but you're getting super vague, unhelpful responses
with an output that you just can't
make decisions on. Look, I've been there
as well throughout my three years of using
AI for personal finance. I've managed to come across the main prompts
that you need to get the information
that you want and the desired outcome that
you can make a decision. And in general, there's two ways that you
should be doing this. So we're going to
go over rule one, which is providing the full specific context and rule two, getting the specific
outcome that you need. So without further ado,
let's jump into rule one, providing the full context. So most people will use their hat EPT or their
gemini like this. In this case, we're
using Gemini, but most people will say, how much do I need to
save for retirement? And obviously, your AI is
going to think about this, and it's going to take
very generic data from people just all
around in your location, whether this is
the UK or the US. And this answer
isn't necessarily going to be an answer for
your specific context. It's not going to give
you what you need. So if we have a look
at this, it said, how much do you need to save for a comfortable retirement? And it's talking about
very generalized things, your desired
lifestyle, your age, key guidelines, and
it's just saying, by age 30, you need to have an equivalent one
year salary saved. But age 56 times
your annual salary. And by retirement, a
common goal is to have your pension pot worth ten
times your final salary. It's finally given some numbers, but it doesn't know
how much I'm earning. It doesn't know how much
I've got in savings. It doesn't even
know where I live, what I want to do
for retirement. And that is the main
problem that people do. They're not giving it the
specific information. So let's change this now. Rather than saying
the very vague, how much do I need
for retirement, Let's go into Gemini,
and let's say this. How much do I need to
save for retirement? If my monthly living expenses are going to be 2000 pounds, I am currently earning
45 K as a banker, and I am age 23. I have 35 K in savings, and I currently own a
flat worth 400 K. Now, you can see that I have
provided so much detail, and this detail is going to allow Gemini to
do the maths in the background and to be able to analyze and give me
a specific answer. This answer is going to be
something way more useful. You're actually going to
be able to use this with a specific output and actually
get out what you want. So having a look at
what we've got here, it's telling me your retirement
goal, the target numbers. Saying that desired
annual income needs to be 24,000,
which we've already got. Target pension needs
to be around 300,000. It's telling me 35,000 is a
brilliant savings launch pad, and it's also just telling
me how to get there, and it's given me
specific numbers. So this is exactly what we need. But already, this brings
me on to rule two, because what we're
seeing here is, this is just so
much information. It's an information overload. I'm struggling to
read through it. I want something which is visually appealing
a good output, and that moves me
on to rule two, getting the specific output that you need because
this is nice. It's giving me all
the information, but I can't digest all of this. So the other thing
that you need to do when it comes
to this course is making sure that you're getting the specific output to be able to make a
decision on this. So, for example, with
this, it'll be nice to visualize all of this
data in a graph. So for example, you can prompt Gemini to do
something like this. I like this information, but
can you visualize it for me? By saving 2000 pounds per month, how much will I have
for my retirement? A graph would be useful. And this is the amazing
thing about Gemini, hat GBT. I will give you a proper graph, and then you can use
that as a visual aid. And look, here we can see, it's creating me the
projected retirement savings with 2000 pounds of
monthly contribution. And look, it's given
me an amazing graph. It's told me the target part of 300,000 that we need to save up. And it's showed
me that projected savings growth was 3,000 pounds from 23 up until
the retirement age of 68. Grows absolutely amazingly. It's even given
an opportunity to download. So this
is what I mean. You need to be prompting
Chat GPT or Gemini with the correct things to be
able to get what you want. So throughout this course, make sure you stick
with the two rules. Now that I've spoken about
that, let's go on to prompts. And honestly, prompts is probably the most
important thing, so make sure you watch
the next lesson.
3. The "Act As" Command: I've found throughout
using Chat GPT and Gemini is that you need to be prompting it with
the correct thing. If you prompt it with
something very vague, it gives a very vague response, but if you prompt it
with something good, something intellectual,
something that it can use, it then gives a
far better answer. And what I've generally
found is three main ways to get a really good response out of the different
AI that you use. And the first one is
the act as command. So the act as command
essentially puts ChachiPT or Gemini into a situation where it's using a
different algorithm, a different model and acting as something such as
a wealth advisor. So what we have here is I
just simply ask Gemini, what should I invest in? And it's given me a
very vague response. It's just told me about
key considerations and generally what
investments are out there and give
me a risk tolerance, a risk return, what
they're best for. And it's not necessarily the answer that I
was looking for. However, I prompted it with something different
straight after, and this is exactly what
I mean with the act as. As you can see here, I've gone and
prompted it with Act as a conservative
UK wealth manager. Based on a client with
low risk tolerance, recommend three investments
that I should use to diversify my investments. Now, the act as a conservative
UK wealth manager now gives the algorithm an idea of what output I want from this. Before you just said, me
the best investments. But now we're saying act
as this kind of person, and then instantly
it knows it's going to give a different
response and a response, which is actually going
to be quite useful. And that's exactly what we see. Look, we go down here, it starts talking
about fixed bonds for reputable UK bank. It's giving me the
different number of years. It's telling me interesting, useful information such as
multi asset managed fund. It's telling me about
national savings and investment in premium bonds, and it's even getting a
little disclaimer down below. But that act as
prompt has given me a far better response than what I would have got if
I didn't do that. Moving on to the second point, and that is taming
the AI's limitations. Look, when you use
different AIs, it's going to say
things that are overly optimistic and things which
just are not the case. So an example which I've found so many times
when I use AI is the fact that when I
say forecast my pension, what am I going to have
in 30 years' time? It will use a market
rate of, like, 12, 13, 14%, which is so unrealistic for a
market to achieve that. And this is where
you've got to sort of tame the AI's assumptions, and you've also got to
ask for the assumptions. So one, when you're taming, you've got to say, use
a return of, let's say, 6.5%, or can you include market crashes to
make it more realistic? When it comes to
the assumptions, you've got to ask it to list out the different assumptions, only then do you
know what it's used, and only then you can go back
with a follow up and ask it to change them to make it more realistic for a real
world scenario. Because look, Chat GBT, and Gemini want you to stay
on the platform for longer, so they're overly optimistic and say the things that
you want to hear. So you've got to
watch out for that. And finally, the last point is the
continuous conversation. When you're using Gemini, you want to have a
continuous conversation rather than continually
opening up new chats. So if I was to go back to
what I created earlier, we can see that it's given
me a very good response. And what I could
easily do is just open up a new chat
and just ask it. Look, I want something
slightly different. But why didn't you just prompt
it with a new response? So what you can
do is you can go, This is a great response. Thank you. But I feel like this is too
conservative for me, and I think my risk tolerance lies within eight out of
ten on the risky side. And just by giving it another
prompt, just like that, it's going to re evaluate
what it's done before, and it's going to
give me a response, which is going to better
match what I think I am. So that's why I'm
saying you've got to make sure you continually
prompt to have a continuous conversation
because it's also going to have a strong, solid memory. Anyway, that's enough of
Gemini best practice. Let's move on to how can we
actually budget with Gemini? Because genuinely, it's so
much easier than you think.
4. Building the Ai Budget: So arguably the fun part, building the AI budget. And yes, you could
say, why don't I use Emma Plum or Snoop Finance, all of those different
AI budgeting apps. And the simple answer
is, yes, you can. But the problem with them
is they don't provide the same flexibility that
Gemini and Chat GPT do. And you also can't have that running dialogue,
that conversation, getting the graphs that you want with those different apps. And that is exactly
why I continue to use an AI budgeting platform, such as hat GPT and Gemini because it's just so
good in that respect. What I'm going to
be looking at first is the different budgeting
method that we can use, then collecting all
the data that we need to input into that budget, and then finally letting AI work its magic to build the
perfect budget for us. So first of all, let's get into the budgeting method
that we're going to use. And this is a zero
based budgeting method. And I've spoken about this on my previous course where I've talked about
mastering budgeting. So if you want to get
any more information about it, click on that. But essentially, what it is is where every single pound that is earned is allocated or is
used in some way or another, so that every single
pound is used, and your total amount at the
end of the month is zero. So let's say you
earn 2,800 pounds. This 2,800 pound, every single pound of that
is going to have a job, whether that be for paying
rent, paying council tax, paying off your
debt, your bills, whether it's paying
off your car, whether it's groceries,
it's got an action. So straightaway, the first
part that we need is the monthly salary
that you get post tax. And for me, that's going
to be 2,880 pounds. Now, let's move on to getting all the other
data that we need. That is our fixed expenses. So, for those of you
that don't know, fixed expenses are the expenses which stay exactly the same every single month
throughout your entire year. So these are things
such as your rent, your council tax, any
other utility and bills, any of the debt repayments
that you've got. Maybe it's a holiday that you're paying off over a
12 month period. It is all of those
different expenses. So let's have a look at mine, and let's get all
these together. So I actually have a
spreadsheet where I keep all of this data and it is
in my income tracker, and I'm just going to extract
everything from here. So we want rent, which is a fixed expense, and this is actually
725 pounds for me. We then have all of our
utilities and other bills, which is, in fact, 80 pounds. So let's include
that in as well. We then have my phone tariff, which is nine pound 20, but that actually
changes each month, depending on how
much I use it for. So we're going to exclude that. And then we have council tax, which works out to
85 pounds per month. So they're all of
my fixed expenses. And I'd encourage you
to pause the video now and just to look through your bank statement
or your utilities, or your bills, and pull out all of the different
fixed expenses that you have because we're
going to be using them in the next fun part. And that moves us on
to the next part, and this is where we're
going to use AI to build our zero base
budgeting tool. So, let's use what
we learned in Module one into this to
build our budget. So straightaway,
we're going to say, act as a zero based
budgeting expert, which we spoke about before. And now we're going to fill
out all of our details. So my monthly post tax
income is 2880 pounds. My fixed expenses are Rent, 725 pounds, council tax 85, bills and other utilities 80. My ultimate goal
is I want to save 1,000 pounds per
month for retirement, and this can be invested
into different securities. And that's what you also need. Be specific, have a goal. Greatly suggested
budget that allocates all funds showing recommended categories for
variable spending. It's going to be Enter,
and it should create a very good zero
based budgeting tool. So let's have a look. So straightaway, by saying that act as it knows
exactly what it's doing. You've prompted it correctly. It knows exactly what
zero based budgeting is, and it's going to
create that for us. Just giving is a
little breakdown. It's to my monthly
post tax income, some of my fixed expenses, available for variable
spending, 990 pounds. So it's actually done the
math for that as well. Suggested zero based
budgeting method, so it's say my incomes 2,880. After my rent, 725 council
tax and utilities, that is a -860 pounds
for my retirement. I want 100 pounds
of investments. It's actually
interestingly, added an additional 150 pounds for goals within
one to five years, and it's adding 50 pounds
to my emergency fund. So it's done that
straight off the back. It's actually put in 200 pounds. So clearly, it's done
some maths that allowed me to find an extra 200
pounds which I can invest. Groceries 300 pounds per month, which is in line with what I'm currently spending,
public transport, 120, household supplies
40, health and wellness. And all of that stuff has
come up to 990 pounds, and it's obviously
netted off to zero. So straightaway, it's done
exactly what we've said, but you know what I'm
thinking right now, and you're probably thinking
the exact same thing. This looks horrible.
Let's put it into a way nicer format. Can you make this more visually
appealing for me, please? Because, yes, it is good, but it's just not
visually appealing. I want to Mojis. I want to see the numbers
working for itself. I just don't want to see that
very boring bland format. And, look, Jim I can do so
much better. This is nice. It's created a little
monthly dashboard for me, which I can actually
export to Google Sheets, total monthly income,
total savings, giving me the saving
rate, my lifestyle fund. It's tag me exactly how
everything is broken down, the essentials, the
wealth building, and it's even broken
down everything here into personal
growth, so books, household supplies,
shopping and hobbies, eating out,
socializing groceries. So it's done
everything perfectly. And even then, you can make
different adjustments such as I think 1,200
pounds is too much. I want to keep this
just 100 pounds. Can you allocate some money for birthdays and just
general socializing? And this is a really
good thing about Gemini. You can just make
adjustments here and there, and that's the thing. When you're using
these other apps, it's not going to
allow you to do this. This is why I really
do like the gemini, the chat GPT, let's have
a look what it said. I said, of course, it's updated my dashboard and my savings rate has dropped a little bit. It's then gone into what I'm interested in
seeing is this. You can see it's actually
increased it by 160 pounds. This gives you more
room for meals. So where's the 40 pounds
gone? Here we go. It's gone into gifts
and birthdays. It's called it a sinking fund. Set this aside each month, and you have a 480 pound
pot throughout the year. And that's perfect. Because
it's calculated how much I can spend on birthday gifts. Now, this is all well and good because it's told me a
budget which I can stick to. But how about inputting our actual numbers from
our bank statements to see if it can identify
any expenditure leaks or even optimize that
budget even more? Well, that's what
we're going to find out in the next lesson. So,
look, come on. Let's go.
5. Diagnosing Spending Leaks: So we created ourselves
a general budget. We know how much we earn
and we know how much we need to spend on
the variable expenses. But wouldn't it be amazing if we could actually
see how much we actually spend during the month and how this compares
to those categories? Well, that is exactly what I'm going to show you Gemini can do. And honestly, I didn't
even realize it could do this until I actually inputed
in my bank statements, and it does a brilliant job. So there's three things which I'm going to go
through in this video. First is how to extract your bank statements and
get it ready for Gemini. Second is categorizing and summarizing our monthly
expenditure using Gemini. And then finally, how
can Gemini expose any leaks that we have in our budget to essentially
save us some money? So first of all, how do we
get our bank statements? Well, look, this is super easy. Let's go onto our
different banking app. I have two main bank accounts. I have a credit card and
I have a current account. So I've gone into my
app here and I've just exported my bank statement
from July then finally, for my credit card, I've just gone in
there and exported it. So we've got two general
bank statements here. Now, things that you want to do, you probably want to
redact some information, that being your address,
that being your name, and just any other general information which you
just don't want shown. So whether that's how much you spent on a particular thing because you're
embarrassed about it, but honestly, don't be
embarrassed about it. That's what you need to
do in the first stage. So once that's done, we can
move on to the second bit. And that is inputting
our bank statements into Gemini to categorize
and summarize. And this is super easy, what we do is we
actually go into Gemini, and there's this little plus
symbol in the bottom left. We click on that and you
can actually upload files. And I didn't even realize
you could do this until probably a year
or two years ago. So you can upload
those. Let's upload my current account one
and my credit card one. And then let's type
in the prompt. Now, remember, you have to
act as a budgeting expert. Categorize and summarize my
expenditure for July 25 hit. And this will take some
time because look, it's got so much
data to go through, so don't expect a result
with a snap of your fingers. It will take a
little bit of time. This has taken around 15
seconds to do, and here we go. We have our response. So let's have a look
at the categorization. So summary for July
25, at a glance view, this is where your money went
on housing and utilities, transport, eating out,
shopping, and subscriptions. Already, I'm highlighting
Jesus Christ, 152 pounds on shopping and subscriptions, that
needs sorting out. Food and groceries,
personal transfers, and total expenditure
reaching 2,525 pound 50. You've had 1.3 k
sent to savings, and credit card payments paying off my current credit
card, 177 pound 64. And then we've got a
detailed breakdown, and we can see here
it's managed to bring up my rent quite
nicely. That's 1,300. Now, I know I said 725 earlier, but this is split between
me and my girlfriend. We've got the total council tax, which is also split the
energy and my oh two bill, which is correctly identified we got the transport, train in. I spent 191 pounds
at train line. We got the Uber trips,
the my parking permit, all the different eating
out, so it's going to categorize it as where I work, the Bosnist,
Sapphire, the Blues, so all the places
throughout the month, and then food and groceries,
shopping and subscriptions. And it has done a brilliant job about this expert analysis
with a fixed cost. So that's exactly how it
will be able to do it. It gives the results
very, very quickly, and it's given me a very,
very good overview. But the thing is,
like I said, again, this isn't as visual
as it could be, so you need to prompt it to be. This is good, but I want
it to be more visual. Can you create a bar chart based on the
different categories? So what this is going to do is actually show me my
largest expense, and it'll break down to
the lower and lower one, and it's going to give me
a really good visual aid for how much I actually spend on each category and whether I should be
spending on each category. So before we get that response, I'd urge you to
pause this video. Get your financial statements
and plug them into Gemini, or chat GPT, and see what
resort it gives you. And then as soon as
you've done that, let's move on to this
and the next part. And here we go.
Here's our breakdown, and we can see housing and
utilities is the highest, transportation, personal
transfers, eating out, socializing, shopping, food,
and health and wellness. So feel like something could be done about
this transportation, and that moves us on
to our second point. Exposing leaks and what
can we do to save money? So, obviously, Jeremi
now has all of my personal July 25 expenditure. Let's now get it to
expose any leaks. How can I save some
money next month? Let's see exactly
what it can do. And this is where
it's really good. We can go using
the prompt again, act as a saving expert. I want you to expose leaks in my current expenditure and identify areas where
I could save money. Once again, using the
act as a saving expert, and it's going to examine
all the July data and give me a solid response. Now, sometimes you
may need to prompt it again if it's not going to give you
the correct response, but generally speaking, it
is really, really good. So let's have a
look what it says. So straightaway, leak
one your daily commute. So I'm going to be intrigued to see what it says
about this one. This is really good. I was not expecting it
to be this good, so I do buy my train tickets
individually each day, and it said that buying a season ticket could
actually save me some money. It's also said, ensure that
you're using a rail card, which I already am and
book directly from the train operator's
website to avoid third party booking fees, which I currently I'm not doing. I'm booking it all
on train line, which it's managed to identify. So straightaway, that's probably going
to save me maybe 30, 40 pounds during the month, and that 30 40 pounds could
be used for anything, really. So that's quite good. Daily
expenditure, food and coffee. Look, I do this quite a lot, and it's even said I've used Prep four times
during the month, which is generally quite good. But it is saying to pack
a lunch, use coffee, and do budgeting and then
inefficient grocery. Like I said here,
it isn't too high, so I don't think that's
really one to worry about. But there we go. It's identified the different expenditures
during the month. It's told me how I can
start to save more money. And this is exactly what
you can start implementing. So I'd highly recommend you
going through this now, give a play around with
it, see what you can do, make sure you're
prompting it correctly, and then come back
to the next video where we'll go into
even more detail.
6. Finding the Hidden Savings: All well and good
exposing the leaks, but is there any more hidden
savings that we can find? And the short answer is, yes, there probably is, but we need to dig a little
bit deeper with Gemini, and we need to know the
exact prompts to use. So in this lesson, I'm going to go through
three general things. The first one is identifying different subscriptions or different direct debits,
that may be high cost. Second is negotiation script. And then finally,
we're going to do a little subscription audit to see if we can save any
money throughout the month. So first things
first, identifying high paying direct debits. Now, everyone has these. They just sign up to the electricity provider
or to your phone contract, and you just continually pay
that over 12, 24, 36 months, and you don't necessarily
look at the price, and you don't
necessarily compare it against other
ones in the market. This is bad because it actually
happened in my family. My dad was paying over
50 pounds per month for 30 gigabytes of data on
his oh two phone contract. And there was actually a way better offer nine pound
20 in the market, oh two again, same
number of gigabytes, but just a simonly deal. And I pointed him
in that direction. It was on USWich
and consequently, he has saved so much
money since then, up to 40 pounds
every single month. So we're actually going to
use Gemini to be able to see if our current direct
debit are high cost, and if they are,
where should we go in the market to find some
better low cost options? So let's have a look. So first of all, we
need to prompt it, and I'm going to say
acting as a deal broker, I have several direct debits, such as my phone bill and
my electricity provider. Firstly, can you check if
these are a good price? And secondly, if not, please can you point me in the direction towards
better deals in the market? And hopefully, it's
going to be able to identify the nine pounds
70 which I spend on my oh two phone contract and also the 60 70 pounds that
I spend on my electricity. Now, it may strug
with electricity simply because it doesn't
know my kilowatt hours, and that's something
extra that you can input in if you think you're not
getting the best rate. So what we can see here is it has found the
mobile phone bill. So the current
deal is nine pound 70, which I'm currently paying. And the general assessment of
that using the market data is a monthly phone bill under ten pounds is
highly competitive. This is likely sim
only or a tariff that you're paying
off a handset. In today's marketplace,
it's really good. And I'm happy to hear that
because I did recently change. I did look in the market, and this was the
cheapest I could get. It has increased
ever so slightly, so it increased 4% in April, but I'm glad it is still one of the
cheapest ones out there. Obviously, it doesn't
know how many gigabytes I get for that, and that's obviously
something you can input for further information. Onto the electricity provider. We can see that it's 64 pound
96, which I pay in July. And yes, it's
impossible to judge if that's a good price based on the monthly payment alone. It needs to know stuff such
as the kilowatt hours, which totally makes sense. And if that's something
you want to do, input into the spreadsheet. So I definitely
recommend pausing, continuing where we left off
from the last lesson within the same chat so we can see that I've just been prompting it from
the previous one, and this goes back
to the first point. Make sure you prompt it
in the same conversation. And see what you
can get out of it. Moving on to the second
point, negotiation. So let's say I did
have a sky contract, for example, and the market was looking far more competitive. How can we utilize Gemini
in this situation? Well, we can get it to
create a script for us. This script can be written out, and it could be even
said over a phone call, or it can be sent via email
to try and get a lower price. And that's what I'm
going to try here. So you can very
easily prompt it. We can say act as
a lead negotiator. I want you to write me a
draft email to Sky to see if I can get my current 75 pound broadband
bill considerably lower. Now, I completely understand that I should add more
information into this. And the more information
you're going to add, the best the response
is going to be. But based on this, it's going to do a
market analysis, and it's going to figure
out whether 75 pounds for broadband per month
is, in fact, good. And I already know
this is terrible. You shouldn't be spending
any more than 20, 30 pounds on your broadband, but let's see what it writes. So it's even got the
email my sky at sky.com. It's given a nice subject price reduction request for
a loyal customer. It has given a very nice email. And it's even. So
this is the thing. It's even given the price range. So 20-40 pounds per month, and that's exactly
how you do it. There's not any more that
need to be said with this. It's something that
you can come back to and something you can do, and it's a really
strong, powerful tool. Now, that is the AI budgeting, and I hope that's given you
a very good understanding. Make sure you apply all of the things that
we've spoken about. Next, we're going to go onto something a little
bit more financial, and that is talking
about pension, how you can forecast
it, and how you can actually maximize
your pension so you can retire early
if you want to.
7. What is a portfolio: Onto the fun park the
actual investing. And AI, such as Chat
GBT and Gemini, can be so useful for this. Even for me, as someone
who studied finance for three years and
currently works as a banker and has done
for the past two years, I still use AI today just
for up to date news, for portfolio
allocation, and for ETF. And that's exactly what we're going to go through
in this lesson. We're going to go through
the portfolio allocation, the ETF analysis, and finally, the rebalancing
strategy that you need. So first of all, looking
at portfolio allocation, this is where Gemini can be so useful because
what you can do is input your risk tolerances
in your investment goals, where you want your money
to go in the future, and it can tell you the investment strategy
that you need to do. So let's go into Gemini now, and we can see that we should open a new chat up and we
can ask this question. Be my financial advisor. I want a new
portfolio allocation. I have a high risk tolerance and a long time horizon
in the market. Around 30 years. I'm looking for growth and not interested in
dividend income. I want my portfolio
to be diversified. Tell me the US
stocks to invest in. Now, based on that,
it's going to take all the information you put
in, your risk tolerance, your time horizon, and it's going to come
up with a set of different stocks
that you can invest in to create a portfolio. Now, this portfolio
will be very risky, and for you, it's
worth giving it a try, whether you are a
high tolerance, a low risk tolerance or a medium risk tolerance because it's going to give you
different results. And so is the time horizon. So depending on where
you are in your career, if it's early career,
long time horizon, mid career, shorter
time horizon, and towards the
end of the career, it's gonna be very
short, and it's going to recommend completely
different securities. But that's one thing you
need to be looking out for. But let's have a look what
it said based on so given your 30 year time horizon and
your high risk tolerance, we can be aggressive, and we can prioritize
capital appreciation. It said we're going to
go for 100% US equities. So core growth is going
to be large CAP focus. This is going to be broad
indexes, which is large CAP. It's then going to go sector specific and aggressive growth in mid to small CAP.
And here we go. It's given the exact
things we need to invest in a vanguard growth ETF, a sector specific growth, such as investco or
individual stocks, and even another ETF
there and more ETFs. So it's given me a
full 100% breakdown on the things that I
should be investing and then it's given even
further information. And you can stress
test this, as well. Look, if you are a
high risk investor or an extremely
high risk investor, it will obviously say
different things, so you need to give
it a go in that case. Now, the next thing is
rebalancing the portfolio. Now, portfolios don't
always stay the same, and they need rebalancing, depending on what's
going on in the market, or if your risk tolerances or your time horizon
has changed. So, for example, let's say, act as a financial advisor. My circumstances have changed. I have a time horizon of only ten years as I intend to
buy a investment property. Tell me how this is going
to change my portfolio. I need you to rebalance. Now prompting it in this fact. I'm giving it quite an actionable
ten year time horizon. I've said what I'm buying, so it's going to figure out
how much money that I need. And it's going to based
on all that information, give me quite a solid idea
of what I need to do. And that's the thing. It is
also acting as an advisor. Now, pause for a second. You should not take all of
this information for gospel. It certainly shouldn't be. It's there as an advisor
as a recommendation. So some of the things
are going to be right, some of the things are
going to be wrong, so you just need to
bear that in mind. So, yes, it's a
significant shift, and it's saying that
we need to change our equity exposure and increase fixed income and focus on quality and lower
volatility stocks. So we've actually got 40%
bonds put into the portfolio, and it's given us
two different ETFs, an international one
for diversification. And then a total
stock market ETF for more diversification. Then we've got the bond markets, we've got treasury bonds, and we've got just
normal long term bonds, and it's given us
the exact allocation that we need to execute. And that's a really good
thing about Gemini. It's going to give you
a very broad overview of what you need to
do in the market. And it's definitely
something that you should consider following
and once again, stress testing with lots
of different scenarios. For example, you could say, these ETFs look interesting, but can you do an ETF analysis to see if there are any
better ones in the market? And once again,
it's going to look into the ETF that they've said to invest in and see if there's any better ones
in the market because, yes, it's come up
with a suggestion, but it doesn't necessarily mean that suggestion is amazing. So there we go. It's
given us a bunch of criteria for analysis, and it's come up
with the top ones. So we've got one, the Vanguard, it's given us expense
ratio very low, all very similar, but this
one's a little bit more, and it's given us a lot
of information to digest. Definitely one thing
I'd recommend doing. But now let's move away
from the investing side. Let's do some growth
projections and see how much we'll have
in a few years time. So let's move on to the final
lesson in investing now.
8. Course Recap: Congratulations. You have made it to the end of the course. I hope you've learned so much
over the past four modules. There is, honestly,
so much to digest. So if you need to go back and
watch some of the lessons, I'd highly recommend doing so. But don't think that
we're over yet. I'm setting you a project, which you can find
in the Skillshare link slightly down below. I want you to take one thing from the three
different modules that we I want you to apply
that to the real world, whether that's actually
doing a proper budget audit, whether that's creating
a diversified portfolio. I want you to do
that, and I want you to attach it and send
it directly to me. And I want you to say
how much you have saved and if it's
been helpful at all. I'll be super intrigued to also hear if you've got any
suggestions on how you've been using AI and how you've been utilizing it
in your everyday life. Thank you so much for watching, and I really hope you get some
value out of this course.
Jacob Phillips, Youtuber
