Ever wondered if you can afford to take early retirement? Traditionally, you might have engaged a financial adviser to help explore your options. This week, I’ve been talking to one reader who’s been using ChatGPT instead.

Unlike the 12mn Britons estimated to be in the “advice gap”, 58-year-old Jim can afford to pay for regulated financial advice. With a ￡2mn defined contribution pension entirely invested in global equities, he has a further ￡850,000 in liquid assets (primarily fixed income) plus a ￡2.5mn home. He turned to generative AI out of curiosity, but the results surprised him so much, he shared them with me. So how worried should advisers be?

Jim provided ChatGPT with a synopsis of his financial position stating his desire to retire at 60, asking: “Do I need to change the profile of my DC pension fund when I retire?” Within seconds, it generated an easy-to-read three page summary identifying that Jim’s central dilemma was managing a sequence of returns risk — the danger that a market downturn early in his retirement will reduce his portfolio’s longevity, especially if he’s drawing an income from age 60.