Fri Dec 06 2024, by Tyler Gardner

Financial AdviceSocial Media TipsInvesting StrategiesYouth FinanceFinancial Education

Top 3 Financial Tips for Young Adults on Social Media

If you are among the 80% of young adults who turn to social media for financial tips, here are the three biggest things you need to know.

1. Understand the Importance of Disclaimers

83% of financial videos lack this disclaimer. If they don't tell you in each and every video that it's not advice, then scroll on and never look back.

2. Avoid Single Stock Investments

70% of financial videos encourage you to invest in one single stock. Oh, dear Lord. I don't even like telling you to research one specific fund consisting of 500 to 1,000 stocks. So if you're investing in one single stock based on what some stock picker McGuru tells you, keep scrolling.

3. Beware of Guaranteed Returns

57% of videos imply a guaranteed return. The only guarantee in finance and investing is that there is no guarantee.

Stay educated, keep your head on straight, and if any of this is helpful, like and follow, and I'll keep trying to get you one step closer to where you need to be.

Source