One of the first questions I ask people who come to me about investing is:
“Where do you get your financial advice?”
The answers are always interesting. Some say from a financial advisor, others from a relative, and plenty are readers of my newsletters. But one answer I’ve been hearing more and more in the last couple of years is: “social media.”
At first, I scoffed at that. Honestly, it seemed crazy that anyone would take advice from a stranger on the internet they’ve never met - or worse, someone who might not even be real. With AI-generated bots now flooding feeds, how do you know who to trust?
Then again, nearly 100,000 people subscribe to this very email—Market Insights. So maybe I shouldn’t be so surprised.
Here’s where my concern comes in: most people handing out advice online have zero education or real-life experience. And while I’ll be the first to admit that a fancy degree isn’t the end-all, there’s no substitute for real-world experience.
Take me for example, I started managing money professionally back in 2004.
For 17 years, I was responsible for other people’s real money before I sold my advisory. Let me tell you: when you’re managing someone’s life savings, it changes everything. It forces a level of focus and responsibility that you just don’t get from posting hot stock tips on TikTok.
That’s the level of attention I try to bring to you every day. I’ve been through the ups and downs of the market for 20+ years. I’ve made mistakes. I’ve had big wins. And through it all, I’ve learned lessons you can’t fake - because they were forged with real money on the line.
Now, surveys show that 62% of Gen Z (aged 18 to 28) prefers financial advice from internet personalities over traditional professionals. Honestly, I get it. That generation grew up with a phone in their hand and information just a tap away.
Here are my takeaways:
• The positive? More people are paying attention to their money, and that’s a great thing.
• Gen Z’s “do it yourself” attitude is powerful - and their distrust of Wall Street could actually help them build independence.
• The risk? There’s a lot of bad information out there and following the wrong “expert” could be costly.
• At the end of the day, we are each responsible for our own financial future. The best thing you can do is keep learning - whether that’s through YouTube videos, books, or emails like this one.
So let me ask you… where do you get your financial advice?
Shoot me a note on X (formerly Twitter) @MatthewMcCall or email the team at [email protected]. I’d love to hear your story.
Here’s to the future,
Matt McCall
Editor, Market Insights
