Veteran investor surprised by ChatGPT’s advice on how ordinary people can get rich: 'Fundamentally sound'

During the episode, host Steven Bartlett, an entrepreneur and investor, posed a deliberately simple question to ChatGPT while speaking with JL Collins.

An exchange involving ChatGPT on a recent episode of The Diary of a CEO has drawn attention after the artificial intelligence tool produced investment advice that closely aligned with long-established principles advocated by veteran investors.

During the episode, host Steven Bartlett, an entrepreneur and investor, posed a deliberately simple question to ChatGPT while speaking with JL Collins, author of The Simple Path to Wealth and a prominent figure in the financial independence movement. Collins is widely known for his long-running blog, jlcollinsnh.com, and for promoting low-cost, long-term investing strategies.

Bartlett introduced the segment as an experiment to see whether artificial intelligence could synthesise decades of financial thinking into a concise response. Explaining his motivation, he said: “I thought it would be curious ’cause we now have this new alien amongst us called AI. I thought it would be curious if I went on ChatGPT and I asked ChatGPT the question.”

He then read out the exact prompt he had entered into the chatbot: “I’m a normal person who earns $50,000 a year. I want to be financially free in the future. Give me a one-sentence answer based on all of the wisdom in the world taken from every expert in investing ever.”

Before sharing the AI-generated response, Bartlett asked Collins how he would personally answer the question. Collins replied without hesitation: “Avoid debt. Live on less than you earn, and invest in surplus,” a phrase he has long used to summarise the central argument of The Simple Path to Wealth.

Bartlett then read ChatGPT’s response aloud. The AI advised: “Focus on saving and consistently invest in low-cost broad-based index funds like the S&P 500 while living below your means and allowing compounding to work over time.”

The similarity prompted a light-hearted reaction from Collins, who said: “I should sue them for mining my book,” before acknowledging that the advice itself was fundamentally sound. The principles outlined by the chatbot reflected the same approach Collins has promoted for years: limiting expenses, investing broadly, keeping costs low and allowing time to drive returns.

The discussion continued with Bartlett posing a follow-up question to the AI. “I then asked another question. How do I earn more?” he said.

Once again, Collins was asked to respond first. He said his advice would be straightforward: “Develop your skills.”

Bartlett then shared ChatGPT’s answer, which encouraged individuals to “focus on developing high-demand skills”, pursue career progression, consider side businesses, or invest in income-generating assets such as property or dividend-paying investments.

Bartlett said what stood out to him was not the familiarity of the suggestions, but the uncertainty surrounding what “high-demand skills” might mean in the years ahead. This led the conversation towards the broader impact of artificial intelligence on employment and income stability.

Responding to questions about future skill demand, Collins noted that the value of certain professions is already shifting. He pointed to computer programming as an example, observing that while it was once seen as a highly secure and sought-after skill, the rapid development of AI tools is altering its long-term prospects. He also remarked on the irony that the chatbot they had just consulted appeared to have absorbed ideas from his own work.

These concerns reflect broader warnings from technology leaders. OpenAI chief executive Sam Altman has previously cautioned that automation could replace large numbers of jobs. Speaking on "The Tucker Carlson Show", Altman said: “I’m confident that a lot of current customer support that happens over a phone or computer, those people will lose their jobs, and that’ll be better done by an AI.”

Despite these shifts, Collins argued that the fundamental principles of wealth-building remain intact. He reiterated that avoiding excessive debt, spending less than one earns and investing consistently continue to underpin financial independence, even as technology reshapes the labour market.