Finfluencers! How Good is Popular Personal Financial Advice?

The term “Finfluencer” refers to a person who by virtue of their popular or cultural status has an outsize impact on investor decisions through social media influence. According to Sue Guan of Santa Clara University, a variety of finfluencers exist in today’s markets, ranging from simple celebrities that draw people's attention like Kim Kardashian to corporate personalities like Elon Musk or Ryan Cohen to ordinary investors who develop followings on YouTube, TikTok, and other social media platforms. In today's video we examine how the advice of well-known personal finance influencers like Dave Ramsey and Robert Kiyosaki compares to the advice of academics.