Long-term wealth strategies, like I have, require that you be educated, know your investment parameters, have some money rules, and be cautious. Please do not make investment decisions based on TikTok or Instagram posts.

Hopefully, you have been around the block enough times to know what works and what doesn’t work and you no longer fall for the urgent get-rich-quick schemes; “if you don’t take advantage of this today, you will lose out.”

The social media landscape is the Wild West. While platforms should implement some research for their content, they don’t. Just look at what Elon Musk is doing with Twitter. The “hellscape” he said it would not become is just what he’s created.

When I was looking online for solar panels for one of my buildings, now every time I go to a YouTube video I get the “Don’t pay for Solar Panels” ad that says I can get them for free. They are NOT free and it is a bait-and-switch scheme.

While I took a risk with cryptocurrencies, I only invested $10,000. In December it was worth about $7000. BUT, I can afford to lose the whole thing – can you???

The people who had their crypto on the FTX platform may see nothing. Crypto is just an example of where you need to be cautious.

Trends fade. If you want to be conservative invest in things that have been around for decades; utilities, auto manufacturers, banks, food manufacturers, etc.

Here is a big red flag/example: An investment that seems too good to be true with unrealistic returns or an unrealistic time frame.

Get a referral from a trusted professional, your CPA, attorney, or banker to an investment professional who would be willing to review your investment plans.

I saved one friend from paying off a 4% loan and showed her how to make 8% on that money.

You can even do some simple research on your own. Compare what is promised to normal returns from the S&P 500 or the Dow over a long period of time.

The important key is to know who is making the suggestion. Ask, “What axe are they grinding?” Or “How will they benefit from what they are suggesting?

To Your Prosperity,