Financial Advisors React to INFURIATING Money Advice on TikTok!

Financial Advisors React to INFURIATING Money Advice on TikTok!

Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

[KImussweg]

Someone in their mid 20s car shaming you for not having a Lambo while pushing AI is about as 2023 as it gets.

[carlgarrett]

That guy who thinks he doesn't have to pay his debts is in for a shock when he tries to get more debt.

[jwangcap]

"Remember that movie a couple of years ago, Minority Report?"

Who wants to be the one to tell them Minority Report came out over 20 years ago... (2002)

[carlgarrett]

The bank employee using a woman's transaction history to help him scheme on her would have been instantly fired and probably arrested at the bank I used to work at.

[smjaiteh]

If you ask one person at a time for one dollar, have a 100% success rate of receiving the dollar, moved onto the next person and the entire process took 3 minutes, doing that 16 hours per day, leaving only 8 hours for literally all other life processes, never slowing the pace, never taking a single day off and never spending a single dollar owned, it will still take you 8.5 years to earn 1 million dollars. I did the math.😐

[pizzamanmep]

I really like the one telling us to leverage in order to buy 50 houses because thats exactly the type of behaviour that will spark a massive housing crisis and let us, millennials, able to actually buy our first home! Thanks!

[JWalton]

8:23 I don't agree with everything Dave Ramsey says but to his defense, he tells his people to invest 15% of your gross income, not including any matches, before you pay off your house.

[Rusaarules]

I think the main lesson here is that if you're looking for financial advice on Tiktok, you deserve to be in debt.

[KP-hiom]

I did what the house guy was talking about. We had 8 properties. All was good until 2 people stopped paying rent. We got rid of everything, left Vegas, and built a house in PA. If we get into real estate again I'd pay no less than 40% down to have cash flow.

[LoyalSol]

You should start a bingo card for this. You could give "Buy tons of real estate" as the free center square since that one's going to come up.

[TJ]

My mom had her wages garnished for an old car debt, I can tell you that is absolutely something that the debt collectors can make happen.

[Brad]

I want to personally thank you guy's for lighting a fire under my but for saving and investing. At 63 it's too late for me to become a millionaire. I have started a Roth for my grandsons 4 and 2. I'm also in the ear of my 25 and 27 year old kids. I will get them going !!! Thank you so much for keeping me excited about saving and investing.

[MillionaireHouseholdFinance]

I definitely agree with the "if you let your debt get to collections, you're already doing it wrong" sentiment. Paying off $100, 000 in student loan and credit card debt made my husband and I feel free and relaxed. I can't even imagine how stressful life becomes when you get to the collections stage of things.
Not to mention, that guy clearly forgot that foreclosures are a real risk of not paying back certain debts. He didn't think through his argument.

[nicolasbenson]

This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

[briandozier]

Using leverage to buy real estate is the riskiest thing I’ve ever seen. That guy is relying on his tenant’s rent payments to pay the mortgage. In 5 years, that guy is gonna be broke.

[Joenzinator]

I'm 37 and I've never had a Lambo. I drive an 8 year old minivan. I have over a million net worth though. In my book that's winning.

[AlexHeineCSB]

The editing on this was tremendous. The Powerpuff Girls reference had me rolling!!

[ralphparker]

A bank teller using your data for his own benefit, is that not illegal? A father taking out credit in his child's name, Is that not fraud?

[DerbyPy]

I just need to show love to the undercover heroes that cut Power Puff Girls over Brian speaking and timed the Chemical X part perfectly. Chefs kiss 7:29

[vnep]

One scam I saw many years ago was someone selling some turn key make money thing. I don't recall how much they were charging, but they had the gall to say that if you can't afford it, then get a credit card to pay for it. Because his system was such a sure fire thing.

This tactic seems to be alive and well today. It's just presented differently.