Dangerous TikTok Financial Advice Is Back
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- Опубликовано: 27 сен 2024
- Here is my response to financial advice on TikTok - Enjoy! Add me on Instagram and Snapchat: GPStephan | PROMOTIONAL OFFER: Get Free Fractional Shares when you sign up and make a deposit using my paid affiliate link for WeBull: a.webull.com/i...
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That first clip is catastrophically HORRIBLE advice!🤣
satire....
@@JaydenRonaldGonsalvesnot satire when some young impressionable person would say oh that sounds like a really smart idea!🤡
@@JaydenRonaldGonsalvesbut many people are dumb enough to believe it and follow through with it.
It’s actually genius and you totally missed it. You probably have a net worth under $2M. Why poor people speak out of line is beyond me! We’re laughing at you.
@@ColumbusRealtors-m2zalright user 456789. Just as Dave Ramsey- appealing to the average individual is for the greater good. Do the math and simmer down
The first clip is the perfect example of "Don't got problems? Go and created them"
😂😢😮😅
I borrowed 100K from a mob boss, best motivation ever.
Ll
you know what's dangerous financial advice? telling your fans that FTX and Yotta Savings is a good place for their money.
Reminds me of when you and Andrei Jikh were promoting BlockFi , I can only imagine how many people you hurt.
Just for clarity, they also said to get your Bitcoin and them pull it out into offline storage. I remember Andrei in particular (not saying Graham didn't also, just that I remember it from Andrei) before it crashed telling people it was looking bad and they should pull everything out...
I had some minor bitcoin in my BlockFi wallet... It was frozen during the problems.
Eventually they opened up the wallets so I could pull it back out, which I did... (And funnily enough, it's now worth more.) Blockfi in particular was very strong in saying that coins in people's Blockfi wallets were those people's coins, not Blockfis, and they followed thru on that.)
Also, if someone suggests I do something and reminds me that it is risky (which they did), and I do it and lose money... (And they didn't lie about things trying to convince me to invest...) That would be on me. I take responsibility for my own actions...
I got lucky and didn't lose my couple of hundred bucks. But had I lost it, it still would have been on me. (And FTX and possibly Blockfi if they knowingly lied (which FTX definitely did.), but still partially on me because I am aware that Crypto companies can be what FTX was.)
i would like to see him respond to this
So many people need someone else to blame for things nowadays... Interesting...
I know, I'm old and it's a "get off my lawn" moment. ;-)
Neither of those two are financial planners or accountants or financial experts.
They are guys on RUclips who talk about finances.
In my opinion, if someone takes their advice and it goes bad, that is on the person taking their advice, not on them.
Now, if my financial advisor, who is a professional that I go to for financial advice, advised me to invest in/thru BlockFi, then it would be different.
And if one actually listens to what they have said over and over in their vids, they do talk about risk and only investing in Crypto with what you can afford to lose...
But people still do that (Heck, I threw in $200 myself) and when it goes bad, blame others.
As a side note, my $200 (never invest in Crypto more than what you are willing to lose, and I am cheap) that was locked up in FTX when the trouble hit, I figured was a total loss. I didn't blame them...
And later, I was able to withdraw it and not it's worth like $800...
Crypto is funny that way... And it is basically gambling, not investing...
Note: I am not a financial advisor and no one should ever listen to me about anything, especially money! ;-) ;-)
I'm out of the loop, what happened with BlockFi?
@@Phoenix11720 They were caught up in the FTX problems as FTX had "given" them a lot of funding. As a result, when it turns out FTX didn't have the money they said, BlockFi had major issues too.
BlockFi at the time locked all access to any crypto. Bankruptcy was declared. BlockFi kept maintaining to the bankruptcy courts that whatever coins were in one of their customers wallets didn't belong to BlockFi but to the customers and should be released to the customers. The courts eventually agreed (it took a long time).
That isn't all of it tho, as some people had money/coins actively in BlockFi accounts (not in the customers wallets) and that is still in talks about how much of that will be able to be returned. (I didn't ever have any money in those accounts.)
I saw something recently that the courts said what is remaining of FTX did have to pay a large amount back to BlockFi, so hopefully that will help some of those accounts as well... One of the good things about the recent resurgence of Bitcoin is that it might mean people can get back more of their money, at least as it was valued when the FTX crash hit.
And, I'm sure there are WAY better descriptions of what happened and is still happening. ;-) Just my ramblings/thoughts on it...
i did the credit card debit motivation thing before. it did not go well LMAO
😂😢😮😅
I don’t take advice from TikTok. It should be more entertaining to us.
Yeah, shorts /tiktoks are super addicting lol
Or just don't use it?
I think the second advice is about what I heard Charlie Munger once said. It's harder to reach 100k, then from 100k to a million. The time it compounds and grows is going to be shorter. So go all out and make your first 100k, because that is the difficult part.
Unless you are a certified financial advisor with years of experience working with a broad spectrum of clients, I’m not giving you not one second of my day. It’s sad that people are getting advice from Tik tok grifters who are just seeking engagement.
I've never gotten good advice from a certified financial advisor. They give mediocre advice.
Ok Boomer
@@triswilsfulwell when you’re broke they’re always going to give you the same advice
Not a financial advisor, just an accountant with nearly a decade of experience in investing. Don't take my advice. But the fact I can confidently tell you to not take my advice, is the confidence you should have telling people pushing a "get rich quick" scheme the same thing
Honestly sometimes I think people have to learn the hard way, but also I think with investing being gamified, so many people are gambling away their money and not actually Investing in the stock market
Graham, he's saying it takes longer to go from 0 to 100k than it does to go from 100k to 1m....and that's true.
That was a Charlie munger quote.
well that's the point that tt guy missed
@@RichardRemerWarren Buffett argued the opposite. Munger always came off as a bit up his own arse
Ikr! Compound interest is so powerful!
Thanks for featuring my red flag/green flag series ✊
Thanks for making them!!
Just trick the bank into thinking your child's finger-painting is actually a Basquiat
It's dangerous to take financial advices from internet. Most of those guys don't care about being right or wrong, they just care about the views.
It’s like all this RUclips clickbait finance advice out there too
Wasn't you give advice on FTX when ppl lost $$$. You should not be talking about trash advice.
Exactly!!!
Hard to predict something like that especially in a useless market like crypto if you buy crypto you deserve to lose money let's be honest
😂😢😅😊
He’s famous for uneducated crap advice. He’s a fake guru conman
Lots of finance experts were promoting FTX, nobody could have known what was going to happen. Blame SBF not Graham.
5:25 that dude is one of the worst yappologists on the internet right now
best advice is: if someone isn't rich already then don't listen to their financial advice. too many poors on social media giving advice
So listen to people who got rich from making videos? Just as stupid
"Too many poors"
Graham has been working out. The gains have been noted
Definetly noticed.
YESS!!! I've cut out nearly all processed foods and taken my diet super seriously. It's made a difference!
Where is Dave Ramsey and his team when you need them? 😂
Painting “infinite money hack” was funny. I do work at a bank and would like to tell you that banks aren’t pawn shops
Fake sales with paintings, isn't that common practice in that industry
I’ve been spending some time trying to understand what makes a good story, and our interest in most topics comes down to levels of absurdity. So many of these financial TikTok’s get so viral because a lot of creators are really skilled at taking a mundane topic like finance and twisting it to make it seem extreme or exciting.
Generate debt as motivation 😂😂😂😂
4:54 he was telling us to ambush a cash transport truck
My dad was conservative financially, never got rich, but we never lacked. I'm conservative financially, not rich either, but I really doubt my family will lack either. I'm 75 have $260K+ savings invested conservatively, retired, and will probably pass the entire $260K+ to my heirs. As to what that's going to be worth is up to the government.
I might be reaching, but I think what the guy using the river metaphor is talking about the when there's a gold rush the people getting rich are selling shovels. if you know understand the flow of business/money in a given system it's easier to position yourself in the best place to make money.
Similarly, if you want to get ahead of inflation, put yourself closer to the money printers. Beware though, periods of government austerity can be detrimental to a lifestyle built too close to the horse's trough.
I appreciate your review of tik tok financial advice. There is a lot of bad advice out there that people unfortunately get stuck into.
"You can do it, but it's risky." Is he advising people become abusive alcoholics for the sake of their kids? 😆🤦♂
Seems like the realest channel. Keep it up.
OMG Graham your commentary cracked me up 😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂
Graham is fantastic - love your stuff!
Glad you enjoy it!
Thank u for all the knowledge you are sharing …
Be sure to do your research on anyone that says they are a fiduciary. Currently there is no governing body or standard that has to be met for a “fiduciary“.
True. My mom is one for my brother who is disabled through the VA. There is really no bar or checks except for some once a year paperwork.
@@samanthatheminimalist do you mean that there is a law? Or do you mean that it fiduciary does not act in the client best interest the only recourse is to sue?
@@samanthatheminimalist This would make a plaintiff whole if they can prove that the financial consultant did not act in the client’s best interest. However, this could be difficult to prove depending on the circumstances. It would be better if there were a standard to meet or a governing body to determine what a fiduciary actually is. Currently, this is not the case.
I’m pretty sure Alex is saying it’s easier to get to 1M from 100k than 0 to 100k 😅
Graham is looking Swole!
Yeah. I mean. On that first one, I definitely agree with you.
I recovered from ptsd. I have a complex path. I think where he's coming from is that many people in that mode don't have a lot of energy for everyday life. But they sure can find it in crisis mode. So you're sort of hacking yourself knowing how you'll respond. It's not a healthy way of dealing with the situation. The better solution is to go get therapy. Work on yourself first. Then come back to all of this when you're healthy. But someone who's struggling like that. They don't know how to handle something that is not an emergency.
I don't know why people trust gold, Gold or anything for that matter only has value so long as the masses say it does. if all of a sudden all the gold in the world is allocated to electronics manufacturing, gold is virtually worthless. Just a thought.
Now I remember why I stopped watching these videos. Soon as it's a friend of his, knucklehead will make any excuse in the world why they are right instead of just on the content of the video.
Never say you agree with Martin. It's just a bad look my guy.
Cant wait for someone to review graham's FTX advice.
I agree with that last point you made about the art. The dude was describing how to defraud a bank, seriously? I just can’t believe that people put the dumbest of content on the internet for the whole world to see. ”Even fools are thought wise if they keep silent, and discerning if they hold their tongues.“
Proverbs 17:28 NIV
These people remove all doubt about their lack of intelligence.
Watching the kings of bad youtube financial advice and fiscal scams react to bad TikTok advice, full circle moments
This is why you don’t listen to your friends when it comes to money! Especially in your twenties 😢
This dude doesn’t know who Jordan Maxwell is
When the grocery store clerk is giving you day trading advice. Its time to sell.
You do realize the clip at 6:00 is AI dubbed on a seperate conversation with Shkreli right?
5:12 Essentially follow the money. Similar to fish where the fish are swimming.
Listening to your advice is dangerous
"Current sounds like currency so I'll use them interchangeably and it'll sound profound." 🤣
remember FTX bro
How can I beat Warren Buffet? Having less than 800 billion to deploy.
He’s not a billionaire. We need one of those background channels to check that guy out. And he certainly won’t be a trillionaire.
It's all crazy advice. I usually scroll past those. Except you, Graham ❤
That one guy sounds like Kamala Harrison 🤣
Weird being this early to a video
:)
Hi Graham! 🤗
First comment!
Graham! Long time watcher first time commenting! What’s your thoughts on IUL’s? Keep seeing a company on Tik Tok advertising that.
Appreciate the video. It makes me think of the younger generation, as young as teens (my work puts me in contact with teens), paying attention to inappropriate, half-truths, or "dangerous" financial opinions. Can you and the rest of the "legit" financial content creators put up more digestible content out there to refute or offset the bad content? 🙏
5:12 that guy looks like he's trying not to laugh 😂
Lost it at "Bold and Brash" 😂😂😂
"people who live in glass houses shouldn't throw stones"
Remember promoting FTX on your channel?
I unsubscribed along time ago, I don't know why YT would recommend this channel to me.
But why did you click on the video?
@@sprint7412 But why did you reply to my comment?
@@orangemountain457 because you said he didn't like this guy's videos for giving bad information but for some reason you still decided to watch his video and then decided to comment which helps his video. Why continue to support him?
@@sprint7412 LOL, but why did you reply to my comment?
@@orangemountain457 but why aren't you answering my question first?
What about FTX advice and Yotta?
Great video
Graham watch game have been pretty nice in the last few videos.
WE ARE RURRUUREVIEWING!!
Out of this list Kiyosaki’s advice is the only good one. He means take out equity from an asset, such as real estate or gold. You keep the asset with debt to go finance other projects. It’s how my family got rich. It’s how I’m starting to get rich. I’m at $350k USD and growing.
Great knowledge! thanks
I know people who turned a hundred grand into a million. 😊 They’re dispensary owners who fleeced before the regulations could catch up.
That dude really not understand it meant from 100k-1M not from 0-1M? Lol "tHaTs iMpOsSiBlE"
People are still listening to financial content creators even after all the bull they spew…… Have we learned nothing?
Hi Graham, I want would like your take on this. To me the goal is to make the money you need for your lifestyle, including investing what is necessary for retirement, in the less time as possible. That translates into getting new client for my business only when I want or need an upgrade in my lifestyle. It allows me to have a lot of free time to enjoy life. Should I recommend this perspective to others or is this bad advice?
for the first one it is terrible advice but he isnt technically wrong. some ppl need that thing that gets them up and going. fear and stress might not be the best but it is a motivator and does bring a sense of achievement when you come out on top
horrible financial advice tho, he shouldve phrased it differently but i kinda get it
3:00 homie not smart enough for the content he’s listening to
Before watching I’m guessing these will be very good 😂
Based on previous videos
The first clip is a fucking joke lmfao like it’s supposed to be a haha joke 😂😂😂😂
I thought the first guy was going to tell parents to be abusive and absent so the braindead idea of manufacturing debt didn't seem so bad after that; it's still terrible though.
I think best employees are those with lots of debt
i put 500k in life insurance into a brokerage account. inherited a 401k at 100k. have my own 75k 401k. i had to pull 41`k last year foir house repairs. i now have over 700k just in the brokerage, and both 401ks and i also bought a 100k saleen mustang. now my brokerage and her 100k 401k hAS recovered the 41k plys 50k on top. in less than a year.,
Second guy loves to clip up Alex’s videos and take things into a context to make him look “stupid”
My brain hurts...
what watch are you wearing?
Buy new diamond ring or bad luck
The bad advices were funny.
Hey Graham! Could you please conduct some research on BNB's involvement in AirBNB and vacation rental properties? I'm contemplating whether it's worth making a small initial financial investment to enter this business. It appears to be quite turnkey; however, I'm curious about any potential complexities or challenges I might be missing. Your input would be invaluable.
Are they pumping ftx again?
Still liking
I took the click bait.
that first video is horrific advice, I understood what Alex was saying in the 2nd video ... mathematically it is true. If you are doing straight up investing, that first $100k takes longer then the 2nd, then the 3rd etc. There are plenty of videos out there on compounding interest that proves this. The third video though, that dude has to be on crack.
Ftx 😂😂😂 this guy
What credit cards does graham use?
1:04 ?? What..
But some of the worst advise has always been from fake guru and bullshit artist graham himself….
Wow early
welcome!
Graham, I am a speech/language pathologist. I can help you w/ your speech impediment and your voice!!! Contact me!
Art for collateral? Wow, just like NFTs
To all WANT TO BE FINANCIAL GENIUS TIKTOKERs
“ NOBODY WANTS TO BE RICH SLOW “
- Warren Buffet
There you go ❤ LET THAT SINK IN your BRAIN 🧠
Minni me Tom Cruz is on point.
"It's BACK?"..... It never left!
Great video
On that first clip, you just look at the reverse. Ok so he's saying guys that had bad childhoods are more successful... ok? Well how about the opposite, how many bad childhoods didn't make someone successful, or how many successful people had good childhoods? I would argue a lot more
These TikTok’s are getting more and more wild 🤨
Imagine bashing others financial advice when you promoted gambling as “investing”. 😂