George Kamel This TikTok Advice Will Actually Make You Broke
Jul 4, 2025
Discover the surprising truth behind TikTok's viral money advice, which often leads to financial pitfalls. Explore wealth strategies that challenge traditional mortgage concepts, and understand the risks tied to common misconceptions. Learn why consistent investment and cash savings are vital in unpredictable markets. Uncover unconventional paths to financial independence with insights from historical figures and modern entrepreneurs. Finally, enjoy a witty take on the importance of disciplined saving over risky speculation.
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Handle Debt Collectors Properly
- Never ignore debt collectors; the debt legally still belongs to you even if sold.
- Negotiate in writing and pay if possible, getting settlements confirmed in writing without sharing bank access.
Wealth Strategy Risks
- Wealthy people use liens against assets rather than traditional mortgages to keep investments growing.
- However, using HELOCs is risky and not practical for most people due to volatile markets and high rates.
Time in Market Beats Timing
- The market cycles predictably with ups and downs; try to be consistent rather than timing.
- In your 20s, invest consistently over time instead of stockpiling cash waiting for crashes.