I Asked ChatGPT How Can I Retire in 5 Years: Here’s What It Said

Ever marveled, jealously, at the news stories of 30-year-olds retiring early and globetrotting with their fancy phone lenses and family in tow? Me too.

Thirty has come and gone, but for mid-career adults who dream of a stress-free retirement in five years, it's not impossible. If you've been diligently building wealth over the years — or even just of late — it may be possible to retire in a short window.

As an avid AI user, I've trained large language models and put in my 10,000 hours using different AI tools. This time, I asked ChatGPT the big one: "How can I retire in 5 years?"

ChatGPT gave me some straightforward advice. Here's what the AI bot had to say.

When I asked ChatGPT about how much to save to retire in 5 years, it told me, "You'll need to save an unusually high percentage of your income, possibly 50% or more."

That's not AI scaremongering. Financial planners say that if you're playing catch-up or have an aggressive goal, a high savings rate is the only way to compress decades of retirement savings into a handful of years.

Cutting discretionary spending and funneling every bonus or tax refund into your accounts are a few helpful ways.

ChatGPT told me: "Take advantage of all available tax-advantaged accounts like 401(k)s, IRAs, and HSAs."

For 2025, the IRS lets you contribute up to $23,500 to a 401(k), plus an extra $7,500 if you're 50 or older. IRAs allow $7,000 a year, with a $1,000 catch-up for those over 50.

"Pay off credit cards and personal loans as quickly as possible," ChatGPT advised.

Carrying balances at 30% interest, if not more, is like pouring water into a leaky bucket. No matter how much you save, the money will keep oozing out. Retirees with no debt have far more flexibility in how they maintain their nest egg.

There are several strategies to help you crush your debt and stay on track with the five-year plan. When I asked ChatGPT how I could go about paying off my debt, it mentioned automating extra payments and consolidating into a lower-interest loan.

ChatGPT said: "At five years out, it's time to test whether the math works. Use retirement calculators to estimate how much you'll need and whether your current plan will get you there."

FinanceBuzz offers tools to see if you can retire early and check how your savings stack up. Running projections can help you see if your current path will sustain your lifestyle — or if you'll need to work part-time in retirement.

ChatGPT's next suggestion: "Consider downsizing your home or moving to a more affordable area."

Housing is most people's biggest expense. Selling a larger home and buying a smaller one, or relocating to a lower-cost state, can free up hundreds or even thousands per month. As an added bonus, it may give you equity to invest.

"Plan for medical expenses, including a gap before Medicare at 65 if you retire earlier," ChatGPT warned. When I followed up by asking "how" the bot told me: "To do that, consider options like ACA marketplace plans, COBRA, an HSA, or even part-time work with benefits to cover the gap until Medicare."

It's a fact, this one is key. Health care is one of the biggest unknowns. If you plan to quit before Medicare kicks in, you'll need to price private insurance or COBRA. Even after Medicare, premiums, co-pays, and uncovered services can add up. So consider all that when doing the math.

ChatGPT also recommended: "Have at least a year of expenses in cash or liquid assets."

Experts agree retirees should keep extra cash on hand to cover emergencies without selling investments during a downturn. Charles Schwab notes that an emergency fund is critical for retirees because it keeps you from drawing down your portfolio at the worst possible time.

ChatGPT suggested: "Consider maintaining a higher equity allocation, but be mindful of risk."

Retirement in five years is an aggressive timeline. You'll likely need to take some risks to get there. But what ChatGPT should have said explicitly is to consult a financial advisor. You likely need someone qualified to craft a tactical plan and let you know if a five-year horizon is truly possible.

ChatGPT was clear about this: "One way to speed up your retirement savings is by trimming everyday costs. Think cooking at home more often, shopping smarter for groceries, pausing travel splurges, or cutting unused subscriptions. Every dollar you keep in your pocket is another dollar that can work toward your five-year goal."

Your lifestyle makes a big difference. If you intend to retire in five years, consider making adjustments to your daily routine to better align with your retirement goal.

I asked what to do beyond cutting costs. ChatGPT replied: "Look for ways to earn more through side hustles, consulting, or renting out property."

This is where theory clashes with reality. Picking up contract work or monetizing a skill can help, but it's still work. And work isn't something on tap you can turn on or off: it's a challenging job market for everyone — even freelancers.

Even with regular added income, five years is still a very short runway. Still, any temporary boosts to income can accelerate your savings rate.

In its parting advice, ChatGPT suggested: "Think about long-term care coverage."

The National Council on Aging says your mid-50s is the best time to buy because premiums are cheaper and you're more likely to qualify before health issues arise. Waiting until your 60s can mean higher costs or rejection.

ChatGPT's roadmap for retiring in five years isn't bad. But it's pretty basic, and you still have to do the work to understand what that means for you specifically.

If you already have retirement savings and are dreaming of early retirement, consider talking to other early retirees and consulting a financial planner.

Although AI can be very helpful to get you started, retirement is a significant life transition, and you may want to use a few different tools to set you up for success.