Avoid Seeking Financial Advice from Social Media

Nearly one-third of American adults sought financial advice from social media in 2023, according to Bankrate's Financial Security Survey. Younger Americans are particularly inclined to use social media for financial guidance, which could jeopardize their early saving efforts. Misinformation is rampant on these platforms, as Jeff Busch cautions, and it can lead to misguided financial decisions. For personalized advice, consulting a fiduciary financial adviser is recommended, as each individual's financial situation is unique, according to Brad Clark.