Diary of a self-funded retiree: Entry 11
This is the eleventh entry in our retirement diary, where I've been sharing how my wife and I are preparing for life after full-time work. So far, I've covered our investment strategy, retirement budget, living overseas for part of the year and how we've adjusted to my move to part-time work.
Diary entry 11: How I'm thinking about using AI to make retirement easier
In this diary entry, I look at whether AI could help with some of the practical parts of retirement, from planning holidays and making sense of health reports to double-checking our investment strategy.
AI is going to have a significant impact on employment, including creative and administrative roles and eventually higher-skilled jobs like doctors, lawyers and accountants. We're concerned about what that might mean for our children and their partners. In this diary entry, though, I want to focus on a narrower question: could AI make some parts of life in retirement easier?
Which AI provider should we use?
Last year, we asked all our staff to choose an AI provider to use at work. The aim was to get everyone more comfortable using AI and to work out which model might suit our different work needs best. Because InvestSMART deals with proprietary information, we only use the paid versions of these services, to make sure our data is not used by other users or for training purposes. The providers we use in the office are:
- Claude (Anthropic)
- Copilot (Microsoft)
- ChatGPT (OpenAI)
Other major providers include Gemini from Google, Llama from Meta and OpenClaw, an agentic AI product.
What did AI say it could help with in retirement?
I asked ChatGPT what AI might be useful for in retirement, just to see what kind of answer it would give. This was the response:
Here are some great ways you can use AI in your daily life as a retiree:
Staying Informed & Learning
Ask AI questions on any topic you're curious about — history, science, current events, hobbies
Get books, documentaries, or podcasts recommended based on your interests
Learn a new language with AI as your conversation partner
Health & Wellness
Ask general health questions and get plain-language explanations of medical terms or conditions
Get help understanding prescriptions or doctor's notes (always verify with your doctor)
Find gentle exercise routines or recipes tailored to dietary needs
Staying Connected
Get help writing emails, letters, or messages to family and friends
Draft cards or heartfelt notes for special occasions
Video call assistance — AI can guide you through tech setup step by step
Hobbies & Creativity
Get ideas for gardening, cooking, crafts, painting, or woodworking
Write poetry, short stories, or even your memoirs with AI as a writing partner
Plan travel itineraries for trips you've always dreamed of taking
Everyday Practical Help
Ask for recipes based on ingredients you already have
Get help comparing products before buying something
Understand bills, contracts, or confusing documents
Set reminders and make to-do lists
Finance & Admin
Get plain-English explanations of financial statements or tax documents
Research benefits, Medicare options, or local senior programs
Organize important documents with AI guidance
Tips for Getting the Most Out of AI
Be specific with your questions — the more detail you give, the better the answer
Don't hesitate to say "Can you explain that more simply?"
Always double-check important information (medical, legal, financial) with a professional
Most of the above is pretty obvious, and I am sure we can use AI for a lot more useful tasks.
What have we used AI for?
I recently got the results of a blood test, which my GP said were all normal. I ran the results through ChatGPT to see what it made of them. Given that all results except one were within the normal range, it reassured me that everything was OK but AI wanted to see my next test results to see if trends were emerging.
Could AI replace my GP? Probably not, but it felt a bit like getting a quick second opinion, which keeps me happy. My sister is a radiologist and has been using AI in breast cancer screening for the past three years. It can be very useful, but you still need a doctor to explain the treatment choices.
We went to South Africa in January for a wedding, and AI put together an itinerary for some golf and places to visit along the Garden Route in the week before. It needed a bit of tweaking, as Jane wanted to have a good look online at the hotels, but we generally followed the plan. If I had entered my credit card details, it would have booked everything as well - travel agents beware.
Can AI help with our investing?
When we entered our ages, SMSF balance, how much income we need and how much time we want to spend managing it - not much - it came back with what ChatGPT described as a very good "practical" answer. It suggested using low-fee index funds, with 60%-70% in growth assets and 30%-40% in defensive assets, something that I have mentioned before. It even included all the usual disclaimers.
The follow-up questions were all about whether we were in pension phase, exactly how much income we needed, and whether we had any large assets outside of super.
It even specifically mentioned some ETF providers to use, such as Vanguard, among others, which we already use in the InvestSMART model portfolios. However, as someone pointed out to me, if our investments go wrong, it's hard to blame AI. Still, it can be a useful way to double-check what we are doing.
Is AI better than just using Google?
AI can give you more specific answers to questions like "Are my blood test results OK?" and "Is my investment asset allocation suitable for my age?", though all the models say you shouldn't rely solely on the answers you get.
It's also good at helping you ask the right question by prompting you to change your initial question. That is much more efficient than scrolling through a list of Google answers to select the one that would be closest to what you are looking for.
What about agentic AI - what can it do?
There was a very good article in a UK paper recently about how you could use agentic AI to sort out old emails and write new ones and recommend restaurants or shows to see (once you have set some criteria). If you give it your credit card details, it could even book and pay for the reservations. I'm not sure I trust AI to do that yet.
I tried OpenClaw and it saved time on some simple tasks but given I have a bit more time on my hands, saving time is not that important to me.
My top tips
- AI is here and is changing things quickly, so it's worth giving it a try. Start with simple, everyday tasks.
- Even if AI is likely to affect our children's generation more than ours, it is still worth understanding how it works.
- Use AI to help ask better questions, but don't treat it as a substitute for expert advice - more as a second opinion.
- Keep an eye on AI agents, as they may soon be useful for simple admin tasks like renewing car insurance or finding travel insurance that suits you.
What's next?
In my next diary entry, I'll run through the things we have to do for our SMSF and personal tax affairs before 30 June.
Frequently Asked Questions about this Article…
Yes. The article describes practical uses of AI for retirees — from planning travel itineraries (the author used ChatGPT to plan a week on South Africa's Garden Route) to getting plain‑language explanations of blood‑test results, recipe ideas, exercise routines, hobby suggestions and help writing messages. The author treats AI as a helpful second opinion and reminder that medical or legal matters should always be checked with a professional.
InvestSMART uses paid versions of Claude (Anthropic), Copilot (Microsoft) and ChatGPT (OpenAI) in the office to protect proprietary data. The article also mentions other major providers retirees might hear about, including Gemini (Google), Llama (Meta) and an agentic AI product called OpenClaw.
AI can help as a starting point. When given ages, SMSF balance, income needs and desired management time, ChatGPT recommended a practical approach: low‑fee index funds and a 60%–70% allocation to growth assets with 30%–40% defensive assets. It also asked follow‑up questions about pension phase and other assets and even named ETF providers such as Vanguard. The article stresses AI is useful for double‑checking your plan but not a substitute for professional financial advice.
No. The author used AI to interpret blood tests and found it reassuring as a quick second opinion, but made clear AI cannot replace a GP — doctors are still needed to explain treatments. Similarly for investing, AI can offer suggestions and follow‑up questions, but important financial, medical or legal decisions should be verified with qualified professionals.
Agentic AI (examples in the article include OpenClaw) can act autonomously on your behalf — sorting emails, recommending restaurants or making and paying for bookings if you provide payment details. The author tried OpenClaw and found it saved time on simple tasks but remains cautious about trusting it fully for sensitive actions like payments.
The article recommends starting with simple, everyday tasks, being specific with questions, asking for simpler explanations when needed, and always double‑checking important medical, legal or financial information with experts. It also notes InvestSMART uses paid AI versions so workplace data isn’t used for training; similarly, retirees should consider privacy and account settings when choosing an AI provider.
According to the article, AI can give more specific, conversational responses and help you refine your questions (prompting better follow‑ups), which is often more efficient than scrolling through search results. However, AI models also warn users not to rely solely on their answers and to verify critical information.
Key tips from the article: give AI a try and start with simple tasks; learn how AI works even if its biggest effects may be on younger generations; use AI to help ask better questions rather than replace experts; and watch developments in agentic AI for useful admin tasks like renewing car insurance or finding travel insurance.
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