AI can explain Roth conversions and RMDs, but it can’t replace a fiduciary. Learn where ChatGPT helps and why a human advisor is essential.

Someone asked me the other day, “Raman, couldn’t I just use ChatGPT instead of hiring you to help me with retirement planning?” And honestly, it’s a fair question. AI is everywhere right now, and ChatGPT is shockingly good at explaining things like Roth conversions, RMDs, or even the 4% rule in plain English. But here’s the thing: it’s not a retirement planner. It’s a teacher. It can help you understand concepts, but it’s not sitting in your corner looking out for you when real decisions come up.

What ChatGPT Does Well

Think of it like this: you can ask ChatGPT, “When do I need to take my RMD?” or “What’s this IRMAA surcharge I keep hearing about?” and it’ll spit out an explanation that makes sense. I’ve had clients walk into meetings with me after doing exactly that, and they’re more prepared, which is fantastic. Sometimes they’ll even hand me a ChatGPT summary and say, “Can you double-check this for me?” and it makes our time together more productive.

Even Fiduciaries Use AI, Just Differently

And I’ll be the first to admit I use it too. Not for the advice part, but for efficiency. For example, I might ask it to put together a quick checklist of Medicare deadlines or tax rules just so I don’t have to start with a blank page. But here’s the difference: I don’t stop there. I fact-check everything against the tax code, Morningstar, Schwab resources, and my own experience before it ever gets anywhere near a client plan. So in my world, it’s like a digital assistant, not a decision-maker.

When AI Gets It Wrong: The Hidden Costs of Context

Now here’s where it gets tricky. One client once asked ChatGPT to create a Roth conversion plan, and the suggestion looked fine on the surface, convert $150,000 this year. But when I ran the numbers across their entire financial picture, that move pushed their income high enough to trigger two years of higher Medicare premiums. That mistake alone would have cost them thousands more every single year. And keep in mind, Medicare surcharges (IRMAA) affect about 7% of retirees, and once you cross the income thresholds, it’s not just a one-time bump, and it can snowball into years of higher costs.

If you’d like to understand how taxes quietly impact retirement withdrawals, check out my related article Retirement Planning Without Taxes: Why It Costs So Much (and How to Fix It). It breaks down how a single decision, like when to convert or withdraw can dramatically change how long your money lasts.

Another time, I got a call from a client in a panic after reading scary headlines about the stock market. He told me, “I think I should pull everything out and just sit in cash.” Then he admitted, “If I didn’t have you, I probably would have sold it all yesterday.” That’s the kind of emotional decision that can derail a retirement plan in a single afternoon. And it’s not unusual. Vanguard has shown that having an advisor who provides behavioral coaching can add up to 1.5% in annual returns just by keeping people from making emotional mistakes.

Why Human Fiduciaries Still Matter

That’s where the human side comes in. A fiduciary advisor isn’t just about running numbers. It’s about connecting those numbers to your life, your goals, your family, and making sure the pieces actually fit together. It’s about keeping you steady when emotions could cost you everything you’ve worked for. It’s about updating your strategy when the tax code changes or when life throws you a curveball you weren’t expecting.

So, where does that leave us? My view is simple. Use ChatGPT to learn, to explore, to ask “what is this?” before we meet so you feel confident in the basics. But when it comes to making the actual calls, like whether you should do a Roth conversion now or spread it over three years, or how to sequence withdrawals between taxable, Roth, and IRA accounts year by year, that’s where human judgment really matters.

For me, the sweet spot is combining the best of both worlds. I lean on technology to save time and cut through noise, but the strategy, the accountability, and the judgment, that’s the part you can’t automate. And I do it all for one flat, transparent fee. No product pushing, no commissions, no hidden percentages.

So yes, ChatGPT can be an amazing tool to learn from. But it’s not your retirement planner. It’s not going to stop you from panicking in a down market, it’s not going to customize a plan to your life, and it’s not going to take responsibility if something goes wrong. That’s where having a fiduciary really makes all the difference.

At the end of the day, the smartest move is this: use ChatGPT to get informed. Use a fiduciary to actually plan. And if you’re curious what that looks like in real life, well, that’s exactly why I offer a free Retirement Strategy Call.

Important Disclosures

The information provided herein was obtained from sources believed to be reliable and is believed to be accurate as of the time presented, but it is provided “as is” without any express or implied warranties of any kind.

This material is intended for informational and educational purposes only and should not be construed as individualized investment, tax, or legal advice. You should consult with your own qualified investment, tax, or legal advisor before making any decisions based on this material.

Investing involves risk, including the possible loss of principal. Past performance is not indicative of future results. Withdrawal strategies and tax outcomes will vary depending on individual circumstances, account types, tax brackets, and market conditions. No strategy can guarantee success or prevent losses.