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Thread: Don't take financial advice from TikTok..

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    Post Don't take financial advice from TikTok..

    Don't take financial advice from TikTok..

    Terrible financial advice is going viral on TikTok - TikTok is full of dubious personal finance myths. Here are 10 of them, and why you should be wary.



    People are learning all kinds of new things on TikTok: how to do viral dances to popular songs, how to make hot cocoa bombs or paint an accent wall. They are also learning dubious financial information from unverified sources with millions of followers. Personal finance TikTok, also known as #FinTok or #StockTok, has become a massively popular segment of the app that, at its best, is made up of experts who make videos discussing how to get out of credit card debt, explaining the difference between a Roth IRA and a 401(k), and encouraging young people to start investing for retirement.

    At its worst, however, Finance TikTok perpetuates financial myths, scams, and dangerously misleading information. TikTok’s ability to take an average user’s video and show it to millions of people in a matter of hours or days is unmatched. As a result, what users end up seeing often isn’t good advice from trusted sources, it’s just one random person’s experience making thousands of dollars off buying and selling Tesla calls. Other times, it’s business owners promising to make you a millionaire — all you have to do is give them your money first.

    “I love the content, but people should not invest on the basis of a TikTok video,” said Josh Brown, CEO of Ritholtz Wealth Management, who has a YouTube channel and TikTok of his own. Not that it’s not good for young people to get interested in the stock market and personal finance — just that videos of unverified claims that happen to go viral might not be the best (and certainly shouldn’t be the only) source of information. “People would be better served reading books than following TikTok gurus on trades.”
    Read here for the insanity there: https://www.vox.com/the-goods/222295...ing-tesla-scam

    Any time you give a man something he doesn't earn, you cheapen him. Our kids earn what they get, and that includes respect. -- Woody Hayes​

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    People take TikTok seriously?

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    Quote Originally Posted by Abby08 View Post
    People take TikTok seriously?
    The fraudulent joe biden does.

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    Quote Originally Posted by nathanbforrest45 View Post
    The fraudulent joe biden does.

    I unsubscribed from the mailing list of, White House. Gov, they asked why........I told them, in un-sugarcoated words.

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    Can you imagine taking financial (or any type of advice) from Tik Tok? Funny
    I'm yo.
    This my brother yo
    We yo yo

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