Are you wondering how to rebuild a car engine, make lasagna, apply eyeliner or build a castle in Minecraft? Millions of Americans get their answers from “influencers” on social media. And now a growing crowd of “finfluencers” — a portmanteau of the phrase “financial influencers” — are vying to become your investing gurus.
Search “investing” or a related term on Instagram, TikTok, YouTube or any other major social media platform, and you’ll get thousands of posts from a dizzying array of creators. You’ll see videos of investors flaunting wads of cash, driving Lamborghinis or flashing screenshots purportedly showing big profits from options trading, cryptocurrencies or “passive income” investing strategies. You’ll also see investing basics demonstrated with card tricks, comedy skits or dance celebrations. There are posts from finance professionals and amateur investors, twentysomethings and sixtysomethings, and members of all types of affinity groups. And, of course, you’ll also find posts from media outlets like Kiplinger.
