A financially independent trader who spends about $200 a month on AI tools like ChatGPT explains why they're worth it

Erik Smolinski doesn't cognize precisely however overmuch helium pays to usage AI chatbots similar ChatGPT.

"I don't adjacent cognize what I walk connected it a year, to beryllium honest," the financially autarkic options trader told Business Insider. "I would conjecture possibly 2 expansive betwixt each the models."

While escaped versions of AI models exist, he'll gladly wage for a premium experience. Subscription-based models are communal — ChatGPT, for example, has a $ 20-a-month "plus" mentation and a $ 200-a-month "pro" mentation — but determination are besides consumption-based models wherever you wage per substance oregon audio petition and project-based fees.

"It volition virtually prevention you truthful overmuch much than that, conscionable successful the relation of time, fto unsocial what other it tin do," helium said, adding that helium expects to wage overmuch much for the work successful the future. "I would beryllium honestly shocked if they support it priced this cheap. With the benignant of worth it tin provide, man, they tin complaint truthful overmuch if they wanted."

Smolinski pays for a fistful of models, including ChatGPT, Gemini, Llama, DeepSeek, Perplexity, and Grok.

"Different models person antithetic personalities," helium said. Plus, investigating retired a assortment of products is simply a mode for him to support his digit connected the pulse. "Part of it is besides conscionable to recognize however it's evolving, however it's changing, and who's starring — due to the fact that each antithetic companies tally these antithetic models."

Right now, for his purposes, helium prefers Grok. "It has been incredible, particularly from an capitalist trader perspective," helium said. For the mundane investor, "I would astir apt spell with ChatGPT. It's steady, consistent."

Using AI arsenic an investor

Smolinski isn't your mean investor. He's an progressive trader with a elaborate trading plan — a astir 400-page papers breached retired into assorted sections — that is perpetually evolving based connected his trading log, which is wherever helium collects information and records outcomes aft investigating assorted scenarios.

He uses AI regular to assistance his trading vocation and reply wide questions that originate passim his day. He adjacent utilized it to program a elaborate itinerary for his and his wife's astir caller travel to Ireland.

"From an investing perspective, I mostly usage it to assistance maine with information analysis," helium said. "I usage it to assistance maine deliberation of antithetic ways to portion and presumption my information — and I person a stats inheritance from my undergrad and grad degree. AI tin virtually bash everything that it took maine six years to learn."

It's helped him refine and analyse his trading log.

"It tin assistance you deliberation astir antithetic ways to way what you're looking astatine — antithetic ways to visualize it — to assistance you travel up with antithetic ideas," helium said. If you person a commercialized log, "you tin provender it the Excel mentation of your brokerage statements, truthful you tin propulsion retired each your idiosyncratic accusation and it tin conscionable beryllium your trades, and you tin conscionable beryllium like, 'Analyze this. What trends bash you see?'"

He said he's peculiarly impressed with the heavy probe relation that immoderate of the models offer: "It'll behaviour this truly rigorous, heavy probe and supply citations for everything."

The mean passive capitalist should besides beryllium taking vantage of AI.

Start by asking ChatGPT oregon your AI of prime thing like: "I person $5,000. I privation to turn my wealth implicit the adjacent 25 years. Give maine immoderate ideas connected however I tin physique a portfolio," helium advised. "It tin virtually assistance accelerate each of your decision-making."

From there, you tin physique connected complexity.

Perhaps you privation to find ways to capitalize connected the existent argumentation shifts successful the US nether the caller president. Give your AI chatbot a circumstantial prompt, specified as, "What benignant of industries are apt to payment the most, and what are publically traded companies wrong those industries that are astir apt to benefit?" helium said. "Boom. It gives you each the research. Then, usage it for follow-up questions to truly assistance solidify your knowing of things."

Regardless of wherever you're astatine successful your vocation oregon investing journey, Smolinski advises leaning into AI.

"If you're not utilizing AI, you are already falling behind," helium said. "It's specified an accelerator."

And, for him, it'll ever beryllium worthy the price: "I don't adjacent cognize however you could warrant not spending the wealth connected it. I truly don't."