"Recently released data from the FINRA Investor Education Foundation (1) shows that about 25% of U.S. adults surveyed say they use recommendations from social media influencers when making investment decisions. Among people aged 35 and younger, the share jumps to 61%. Even more concerning: 57% of people with less than two years of investing experience reported relying on social media for financial guidance."
"Financial choices made in your 20s and 30s don't just affect your balance today - they can shape your financial security for decades. Money invested early has more time to grow, meaning even small missteps can snowball into missing years of potential growth. There is also a less obvious risk: loss of confidence. Young investors who follow overhyped online advice and get burned may pull out of investing altogether, delaying or abandoning long-term wealth-building strategies such as retirement savings."
About 25% of U.S. adults report using social media influencer recommendations when making investment decisions, rising to 61% among adults 35 and younger, and 57% among those with under two years of investing experience. Finfluencers now shape many young adults' financial thinking, but their guidance often lacks formal qualifications and fiduciary duties, may include undisclosed sponsorships or commissions, and tends to oversimplify complex topics. Early-career financial mistakes can compound over decades and can also erode confidence, causing some young investors to abandon long-term wealth-building strategies such as retirement savings.
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