Brian, Makayla Rollie, Mark discussed on Raleigh's Retirement Coach
We appreciate you checking out rallies, Retirement coach with Brian and Makayla Rollie from Raleigh Wealth Solutions 9198521215. Rally. Well solutions dot com and McHale. I'm coming to you on this one, because, you know I'm guilty. This if I tried to put in a garbage disposal, and the first thing I did instead of trying to read the instructions, I went straight to YouTube. Figure out if I could do it there, I failed miserably. We had to call a handyman to come and fix my mistakes. But like we'll go to YouTube to figure out how to put a cabinet together or for cooking instructions, But a lot of the younger generation they're going to social media like Reddit like Tic Tac to try to get their retirement advice and financial services And the reason I come to you because you are part of that your college graduate, but you are part of that younger generation. Why are people doing this and how bad is this or or other parts? Of aspects to it. First of all, some things, not always, you know, necessarily just negative or positive. But on the general hold No, I would say that getting your financial advice from social media like Tic Tac or read. It is not the way to go and there's and there's a couple of reasons for that. So good investment advice is boring, and not from the aspect that you know if you have a good investment strategy that those results are boring. But I think what happens with a lot of the younger generation is that You know, And I can say this, You know, we're impatient. We get caught up in fads. Short attention spans all sorts of things that social media caters to, and you can't apply that sort of mindset to your finances. Because just like, ah, good diet and a healthy lifestyle people want to try. Oh, the latest this and that and Maybe let's do a pill or do this. You know what juice cleanse whatever. It might be fun. Come on. Now. I lost 18 ounces to three days to his clients and put 24 back on after that, right, But But But to that point, you know your finances just like your diet. It's not something that can be solved. With with a fat and really the tried and true advice and getting the help of trusted professionals, you know, on the flip side of the juice cleanse, you know, my mom's been working with the nutrition coach for the past What 68 months now, and she seemed fantastic results with their health. So you know it's not it off, and she and she's kept it off exactly lower body fat percentage increase lean muscle Mass and It's just consistency of effort, and there are no shortcuts, and it almost seems like Makayla that it's just convenient because we have the app right there on our phone. Exactly, And I think one of the most important things that this article said Mark was that remember there are ways to vet traditional financial advisors when you go in to meet them, whether it's Zoomer in person. But it can be impossible to find out the intentions or possible conflicts of interest that come from someone who's spewing advice online. So you have no way of knowing whether the person on Reddit telling you to invest in game stop is actually dumping their own shares, you know, is actually dumping their own shares as they speak, so telling you to buy exactly and you know, one thing that we say is kind of are the highest litmus test here. It really well solutions is that we don't recommend things to our select families that we serve. That one. We're not using ourselves or that we want it recommend that our families use and you don't have that level of transparency or dare I say integrity when you're just looking for advice online from those social media. Well, you know, you talk about the whole game. Stop thing. I mean that that chair peaked at over $400 a couple weeks ago. Last time I looked at it was right around $60. So what happened to all those people who bought in 102 100 Derris, a 303 $150, and now they're sitting at 60, and that's kind of one of things..