ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 191: TikTok Financial Advice

Social media is explosive and fast-paced. It’s also a breeding ground for misinformation. If you’re an ER doc who is maybe in a place where you’re looking for any opportunity to pivot out of EM, or simply looking for an alternative source of income, you may find yourself intrigued by an influencer’s unscrupulous financial advice.

On today’s episode, we’ll go over some of the common TikTok-esque financial trends clients have recently shared with us and give our words of caution on them.

Topics Discussed:   

  • The rise in advice on social media and what to be aware of.
  • Our thoughts on the BRRRR method.
  • The importance of perspective when it comes to how much time you’re trading for money.
  • The dangers and drawbacks of certain deductions.
  • How to spot unrealistic income advice and common poor advice.
  • Issues with a lot of life insurance and “personal bank” advice.

Resources Mentioned:

Tags

TikTokFinancial Advice, TikTok tips, social media financial advice, financial advice,financial tips, scams, audits, financial planning, financial planner, emergency medicine, ER docs, emergency doctors

by 
Scott Wisniewski, EA