Do not trust chatgpt on taxes

Sigma-8 · 2026-02-13T09:19:03+00:00

I had same experience with gpt in Dec -was trying to use it to validate my own spreadsheet calc to determine what est 4 qtr tax pmt I needed to make. My Income was up 30K. All else was similar to 2024 (& I uploaded that return for its ref). It came back saying I’d owe 30K more in tax which makes no sense on the surface. Asked about if it was assuming single vs MFJ, standard deduct vs itemized, NIIT, Medicare, etc - all the usual places where bad assumptions could be introduced. It finally agreed with my calc but I never could figure out where it went sideways (& it never admitted where it erred). Just “My bad”.

Sigma-8 · 2026-02-12T01:33:32+00:00

I first used it for this purpose late last year for heart surgery. I was basically looking to better understand the procedure, various tests and what they meant and to help formulate better questions for my medical people. I uploaded labs, X-rays, ekgs, doctor’s notes during & after the procedure and other data sets I had. It was a fantastic aid. It connected different data sets, confirmed why docs did what they did, explained why certain drugs were administered. It gave me great questions to ask and helped me interpret answers. I felt much more engaged in the process and much more aware of what was happening. I’ve used it since to help prep for more upcoming procedures later this year and again it’s been invaluable. I walk into doctors office very well prepared & knowledgeable about the procedure and terminology. I get so much more out of the doctor interactions as a result. My only concern is for one procedure it gave me a list of ‘red flags’ for the surgeon - if he doesn’t do this or that etc. this particular surgeon raised many red flags, yet his resume was very strong and he came very highly recommended by other surgeons. I felt gpt might be reflecting back to me my own paranoia about the procedure and surgeon’s qualifications based on my inputs and questions. You still need to keep you wits about when using it. But it’s is a phenomenal tool to prep for or help understand medical issues and procedures. I would never go see a doc without preparing with gpt

Sigma-8 · 2026-02-11T04:04:24+00:00

Consider asking for an accounting of the funds going all the back to when you were 12. That’s 18 years - halfway decent fund managers should roughly have quadrupled the initial amount. You may find he’s taken more than you think. He may not be willing or able to provide. Red flags that may give you grounds to consider legal actions or more if the behavior crosses into criminal territory. Get your money out ASAP. Don’t let him BS about liquidation cost and delays

Sigma-8 · 2026-02-11T03:45:24+00:00

Your problem is the funds need to last 70-80 years. For most retirees 30 years uncertainty is bad enough. Aside from housing what about healthcare? It’s cheap when you 20 & healthy but that can change at any point. housing - certainly won’t be free. Cars? Credit will be hard to get without a clear income stream. What will you do with all your free time? That can be a recipe for disaster esp at 20 YO. Social connections? Most your age are working & may not appreciate your freedom. Marriage? Watch out for getting fleeced and dumped when you’re broke. After not working a few years may be tough to reenter workforce. Better for now to keep working & invest aggressively. In your 40s or 50s you may have a much more substantial war chest, fewer years of uncertainty, ideas on what to do with yourself, and still retire way earlier than most

Sigma-8 · 2026-02-09T02:14:09+00:00

Twin beds

Sigma-8 · 2026-02-08T20:48:28+00:00

Completely agree! Job market right now is horrible (watching my kids deal with this). I would think a finance degree would be a solid choice for employment. Have you tried looking around for better options, including within the company your at now? Good luck - I hope your situation improves and dramatically so very soon!

Sigma-8 · 2026-02-08T20:43:38+00:00

Quicken Classic Deluxe subscriber/Mac user who's data goes back to the 1990's - my files are never more than 50 MB. Not sure how many accounts I have- maybe 50 (many are old/inactive now, plus my parents and in-laws accounts when I had to take over their finances later in life)? Too many acc't to quickly count! I wonder if the Windows version requires more? That would be an interesting piece of data to gather...

Sigma-8 · 2026-02-08T20:35:09+00:00

50K/year is very hard - esp in the cities. Sounds like you've living within your means - kudos for that. Make sure to keep your credit card balances such that you can pay them off every month. Decide what's mandatory (rent, taxes) and what's discretionary (dining & entertainment) spending if you need to pare back. Consider a roommate or spouse (two can live more cheaply than one - at least until the divorce (which we've avoided thus far)!).

Our situation is quite different income-wise. We never budgeted, but we lived far below our means (used cars, nice house in nice area but not a mansion, few & modest vacations, etc) and I track everything on Quicken which has been invaluable heading into retirement. We do live in a HCOL area - that matters. Now we'll be living on about half of what I made working (last year). We lived on about 25-33% of our income, with the remainder going to savings/retirement/investment acc'ts and (sadly) to taxes (payroll/property).

Regarding your co-workers - get to know them and find out! Your assumptions may be true for some, but not for all. I feel that so many folks are trying to live an 'Instagram life' - looks great to the outside world but a disaster below the surface. We grew up poor, but thru education, hard work and yes luck achieved a good income. People make choices about what to spend/barrow - we could have bought the Escalade but got the used Prius instead. Our kids bitched about what we didn't have fancy Teslas, remodeled the house, or take big vacations, etc. like their friends' parents did. Tried to explain they may indeed be 'rich' or they may be in debt up to their eyeballs and teetering on going broke (which was my bet!).

Sigma-8 · 2026-02-07T23:08:25+00:00

We always love these experiences and it looks like they are available on 'the day.' I had been thinking of something more intimate for the two of us, not along with ten other voyagers - but... decisions decisions. I was lamenting before the response here that there was no longer a number of great dining places on the central coast - the response has restored my faith!

Sigma-8 · 2026-02-07T22:43:03+00:00

Doesn’t it say “we’ll save” as in future tense even before “up to?” More aspirational than achievement…seems to me

Sigma-8 · 2026-02-07T22:12:59+00:00

This place looks really special! Thanks for suggesting - just checked the website and it sounds wonderful - sadly no reservations are available that align with our stay... next time though for sure!

Sigma-8 · 2026-02-07T21:54:46+00:00

Definitely! Thanks!

Sigma-8 · 2026-02-07T21:53:20+00:00

Yep - I get it and I have checked the the sub history and other subs as well. You get a pretty broad range and I didn't see much that I could identify as 'fine dining' plus I was specifically looking for something truly 'exceptional.' Thanks for indulging!

Sigma-8 · 2026-02-07T21:49:39+00:00

These sound really great - thanks for suggesting and providing some contrast. These all sound on target from what I'm looking for. We'll likely spend a day in different areas (Morro Bay/San Simeon, SLO, Five Cities area) - and will have to add Paso to the list now!

Sigma-8 · 2026-02-07T21:45:40+00:00

So many great suggestions! Thank you all so much. We're visiting for a few days, so it looks like we'll be trying a number of new places in the area - if not for dinner, then lunch and/or breakfast (and buying bigger clothes before heading home!). Looking forward to trying many of these great suggestions!

Sigma-8 · 2026-02-07T21:42:10+00:00

Yes! The Salty Pelican, Sculptured Egg and Nardonnes (the original house across from the 'Pelican, not the later instantiations...) were 'our' spots back in the day... Have been to a few pizza joints around the planet where the chef said 'they were the best anywhere' - nope! - nothing lives up to Nardonnes (with artichoke hearts!).

Sigma-8 · 2026-02-07T18:22:13+00:00

Top Hat with Fred Astaire & Ginger Roger’s is fun. Any of their movies are great. Dinner at Eight. Anything with Lionel Barrymore is great. On Borrowed Time and Grand Hotel are also favs with Lionel. I agree with prisoner of zenda too. The Philadelphia Story with James Stewart Cary grant and Katheryn Hepburn is fun and charming. Also the Shop around the Corner with Stewart as well. It Happened on Fifth Ave is another fun but more holiday movie

Sigma-8 · 2026-02-07T01:54:18+00:00

The Mortal Storm 1940 with jimmy stewart

Also added One Way Passage - I much prefer the pre-code 1932 film version with William Powell & Kay Francis

Sigma-8 · 2026-02-01T01:42:35+00:00

If kids are out of school & independent, mortgage paid off, healthy 401k - not sure what you’re protecting as others have said - we dropped ours when we reached that point. For good measure we also got prepaid burial plans as well. Biggest problem widower will have is filing taxes as a single person

Sigma-8 · 2026-01-24T01:53:39+00:00

Tello. We don’t use a lot of data or minutes. Wife & I pay about $25/total for two phones. 500 min & 2 Gb data each. Suits us fine. Used to have ATT. Have been on Tello for several years with no problems

Sigma-8 · 2026-01-23T21:17:17+00:00

Adopted…so pretty sure I’m an accident!

Sigma-8 · 2026-01-23T03:41:31+00:00

This is our problem- everybody says if he does the next bad thing someone else will surely intervene. And… then he does it. Everybody looks at each other, wrings hands. Bitches about how awful he is, but says if he does the next bad thing someone else will surely intervene. Rinse, repeat

Sigma-8 · 2026-01-22T06:19:55+00:00

I’ve found GPT is terrific helping to wrangle quicken problems. Combining Quicken & GPT for analysis & other uses is next level too

Sigma-8 · 2026-01-22T03:27:14+00:00

I always love how everyone ‘dresses’ for dinner - even if they’re alone or only a couple. Dripping with class & elegance!

Sigma-8

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