Millionaire Reacts to Business Advice on TikTok
Can you actually get good, sound money advice from TikTok? In this video, I review some of the most popular TikToks there are when it comes to online business, and let you know whether they are legit or not.
I became a millionaire by the time I was 30, I was not born rich, and I am a very conservative investor. With that being said, let’s dive into money talk!
1. ‘Passive Income’ Is a Scam
The first victim goes by the username @paik4president. In his video, he focuses primarily on people who make money from being a landlord. Paik claims that instead of making passive income, landlords make “stolen income” simply because they “have a piece of paper saying they own a house”.
At first, I agreed with Paik! Being a landlord isn’t passive; you have to deal with tenants, repairs, etc. Then, he started to take a more political slant. In short, investing your money is how you become financially free — there’s no other way around it. You cannot save your way to retirement; you cannot earn your way to retirement.
In this example, investing in a property and capitalizing off the appreciation of the house is not stealing the…
