{"id":1310,"date":"2023-01-24T15:41:32","date_gmt":"2023-01-24T15:41:32","guid":{"rendered":"https:\/\/thefamilybusiness.info\/?p=1310"},"modified":"2023-05-12T14:46:22","modified_gmt":"2023-05-12T14:46:22","slug":"s3e4","status":"publish","type":"post","link":"https:\/\/thefamilybusiness.info\/s3e4\/","title":{"rendered":"S3E4: What Is the significance of ChatGPT?"},"content":{"rendered":"

First of all where did they come up with that name? Well, the Chat part is because at it\u2019s core beginning was built as a Chat Bot. And the GPT stands for Generative Pretrained Transformer.<\/p>\n

The website: https:\/\/chat.openai.com\/chat<\/a><\/p>\n

Difference between ChatGPT and gpt-3.<\/p>\n

OpenAI, creators of both ChatGPT and gpt-3 have been working tirelessly to make life easier for many of us.<\/p>\n

The new ChatGPT was created from conversational data!<\/p>\n

To use it you start by typing in a prompt; for example, if you want to create a viral YouTube title for a video about ChatGPT, all you do is input the prompt, and ChatGPT will generate multiple options for you to choose from.<\/p>\n

You can get very in-depth if you know how to activate the prompts, so developing a skill set around writing exceptional prompts is essential.<\/p>\n

However, it\u2019s also important to create a skillset around using the tool because that\u2019s what it is, a tool for business. Approach it almost as an assistant vs. a replacement for doing the work for you.<\/p>\n

My Takeaways: How ChatGPT AI will at a minimum change the future of content creation and customer service.<\/p>\n

Overall, ChatGPT is changing the game for artificial intelligence in life and business. ChatGPT can make life easier by generating human-like text, answering complex questions, and creating original content.<\/p>\n

So now we have an AI model of the world from the entire collection of language. Currently it doesn\u2019t test it\u2019s linguistic knowledge against the real world but the future is clear.<\/p>\n

This new AI systems will be able to extract out patterns from the world itself from images and then be able to test their linguistic constructions against the world so it will practice the most advanced models using text and image and ACTION and all of that is going to come down the pike next year.<\/p>\n

So if you are a business owner or marketing professional or a savvy entrepreneur, with the latest rollout of ChatGPT, now is the time to look into artificial intelligence to boost your business.<\/p>\n

Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let\u2019s begin building a financial wall around your family. <\/strong><\/p>\n

Join the conversation on Social: Facebook<\/a>, LinkedIn<\/a>, Instagram<\/a><\/p>\n

\nhttps:\/\/media.blubrry.com\/thefamilybusiness\/content.blubrry.com\/thefamilybusiness\/TFB-S3E4.mp3<\/a><\/audio><\/div>

Podcast: Play in new window<\/a> | Download<\/a><\/p>","protected":false},"excerpt":{"rendered":"

First of all where did they come up with that name? Well, the Chat part is because at it\u2019s core beginning was built as a Chat Bot. And the GPT stands for Generative Pretrained Transformer. The website: https:\/\/chat.openai.com\/chat Difference between ChatGPT and gpt-3. OpenAI, creators of both ChatGPT and gpt-3 have been working tirelessly to […]<\/p>\n","protected":false},"author":1,"featured_media":1312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"

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My suggestion is using a fact finder and working with their client to find ways where we can uncover additional funds to build their IUL.\u00a0<\/div>\n
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Go to\u00a0https:\/\/thefamilybusiness.info\/asset-map\/<\/a>\u00a0to begin your today!<\/div>\n

These are some of the three main ways that I found, and that you may find as well, to purchase your own IUL (indexed universal life).<\/h3>\n

1. Pay Down Debts<\/b><\/h3>\n
Perhaps delaying paying off your mortgage fast (15 years vs. 30) or if you're paying above your loan by making extra principal payments, you're actually paying off early one of your biggest tax breaks and delaying that for a time can actually help you fund your IUL.<\/div>\n
So stretching that out and utilizing those funds that you're using to pay off the home early, and then building an IUL to supplement your retirement can be a strategy for you to explore. Regardless we all should pay down consumer debts to free up funds to build our retirement account.<\/div>\n

2. 401k<\/b><\/h3>\n
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The second way is using your 401(ok) or work sponsored retirement plan.\u00a0<\/div>\n
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The good news is that some companies pay a match. Take advantage of that!<\/div>\n
It's free money.<\/div>\n
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However because there's market volatility you may want to consider alternatives for the money you're saving above the match.<\/div>\n
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If you're young you typically have time to sustain the inevitable stock market downturns because you have time for the market to recover again before retirement.<\/div>\n
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If you're more seasoned and the market goes down, you might not have that market recovery time to build back up.<\/div>\n
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Tax-deferred does not equal tax-free. Freeing up those funds, if you're paying above a match and putting it into an IUL, can be a viable strategy.<\/div>\n
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3. Taxable Accounts<\/b><\/h3>\n
You earn taxable interest. So there's interest on the tax that you earn, and reinvested dividends if any, you're taxed on that, and then you're taxed on distributions!<\/div>\n
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It could be capital gains, it could be a tax on your income as well.<\/div>\n
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Regardless these taxable accounts are the least tax-efficient vehicles. Look for diversification.<\/div>\n

So, instead of putting all your eggs in one taxable account bracket, why not put some of those funds<\/div>\n
in a tax-free bracket?<\/div>\n
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What is Indexing?<\/span><\/strong><\/h3>\n