GreenPortfolio’s Post

Wouldn't it be great if every financial tip we saw on social media was accurate? But let’s be real, a significant portion of this advice is misleading. A recent study revealed that 71% of the financial advice Gen Z and millennials consume online could be wrong. Financial content on social media may be helpful but it should still be met with a healthy level of skepticism because: 🔴 Missing Disclaimers: A staggering 83% of videos lacked crucial disclaimers, leaving viewers in the dark about the source’s qualifications 🔴 Specific Recommendations: 70% of these videos promoted specific stocks without context, potentially leading to ill-advised financial decisions Things you can do to protect your portfolio: 🟢 Do Your Due Diligence: Always verify information from social media with credible sources 🟢 Consult the Experts: Seek personalized advice from a registered, experienced financial advisor Have you encountered misleading financial advice online? Are there things you're curious about? Share your experiences in the comments 💬 Link to the study ➡️ https://lnkd.in/eJ5aUUDt #financialplanning #financialliteracy #millennials