If there is a time to download TikTok – it was yesterday. The social media platform quickly gained momentum at the beginning of the COVID-19 pandemic, passing two billion downloads. The app that was once best known for its user’s choreographed dance moves, quickly became a haven for consumers of all backgrounds and interests. Today, consumers can view content ranging from cute animal videos, fashion styling tips, all the way through home décor ideas.
Of the many audiences within the app are the financial TikTok influencers. But, as for any social media platform, it’s important to be cautious of the credibility behind your information intake, especially those that share financial advice to a younger audience.
But fear not, I’ve found five financial advisors on TikTok you should follow that share both easily digestible content and credible financial literacy.
Humprhrey Yang, a financial advisor, joined TikTok at a time when many young people were not apt to tuning into 60-second clips on financial matters. Now with 1.6 million followers, needless to say, his content has convinced many users to up their finance game. Yang focuses on personal finance topics and responds to follower questions surrounding taxes, budgeting and investing.
It’s no surprise that Curtis Ray, CEO of MPI™ UNLIMITED, would see the power of TikTok to reach new investors. Ray drives home the importance of planning for retirement to a generation just starting off their careers. He developed the Maximum Premium Indexing (MPI) plan that utilizes the security guarantee of permanent life insurance, the growth potential of the stock market and the power of compound interest to provide enhanced retirement income, tax-free. While this topic may not sound sexy to Gen Z, Ray’s easy-to-understand delivery has amassed him more than 1.3 million followers and is helping school a new generation on the importance of retirement planning.
While most of us were just dancing or singing viral hits on TikTok during lockdowns, Tori Dunlap started giving financial advice in July and already has amassed close to a million followers. Dunlap is the founder of Her First 100K, a financial education site targeted toward women. Dunlap believes one of the best things you can do is automate savings. She drives home to her followers that everyone’s goals are different and that your financial plan needs to fit your goals and lifestyle.
While Jamie Frankhauser covers financial advice in her videos, she has a broader business scope giving her take on everything from entrepreneurship to motivation. With just under 31K followers she’s not as known, but as a recent college grad, is very popular with the Gen Z crowd.
Zaid Admani started day trading at age 18, but instead of pursuing finance in college, he became a civil engineer. His 220K TikTok followers love him because he explains complex financial terms in simple language alongside strong visuals. His financial advice sounds like it’s coming from your buddy rather than a stranger.
Financial literacy is arguably the most important topic NOT taught in school. These five TikTok influencers are using the social media platform to educate a generation on the importance of investing, reducing debt, retirement planning and achieving financial freedom.