Financial advice has never been more accessible — or more questionable. Are you ready to tackle the truth behind those viral finance hacks you’ve seen online? The barrage of personal finance advice on platforms like TikTok is a siren song, promising financial security and a life free from money worries. But those tips can affect more than just your wallet. Some might get you a slap on the wrist, while others could land you in legal hot water. Join me as I sift through the noise of self-proclaimed “experts” peddling easy wealth, from misleading tax credit pitches and hazy tax advice to exaggerated real estate loopholes and sketchy investment opportunities. Discover how to distinguish between genuine advice and deceptive, flashy pitches to build a solid financial foundation that can withstand the trends and temptations of our times.
In today’s episode, you'll find out:
- How pandemic relief is stretching the IRS too thin, leading to tax fraud and scams
- The exact requirements and documentation for the short-term rental tax loophole
- Why you can’t focus solely on “maximizing wealth”
- The ins and outs of student loan loopholes and how to avoid pitfalls
- How visual effects can skew your perception of financial advice found on social media
- Why “vanilla” insurance products win out over complex insurance-investment hybrids
- How actuaries calculate insurance product profitability and why it favors the company
- Why the allure of low interest rates and novelty causes alternative investments to surge
- Why decisions based on student loan forgiveness programs can be risky
- The real estate loophole to use if one spouse works full time and the other takes on real estate investing
- The truth behind the marketing of whole life and universal life insurance
- Why tax-efficient index funds may be a better investment alternative
- How the concept of “infinite banking” could be misleading
- When borrowing against insurance products might not be the best option
- Why the smartest financial move is to verify before you buy
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Do you have a question about student loans? Leave us a voicemail here or email us at help@studentloanplanner.com and we might feature it in an upcoming show!
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