University of Youtube – Great for Many Things… Investing Not so Much

by Sep 12, 2023

University of Youtube

Youtube is the perfect tool when you need to learn how to fix or change something… You peruse YouTube until you find a good video that can walk you through it, pause when you need to, replay, etc. My son recently used good old U of YT to walk through how to change the brake pads on his bike. There is everything you can possibly want there… including financial ‘advice’.

While this can be very handy for a one-and-done situation, using online resources to manage your financial future is typically sadly lacking, often misleading or non-factual, and not beneficial for the long-term.

Edited Content Creators vs. Reality

I recently needed to tighten up the handle to my glass shower door, which seemed baffling to me. I found a one-minute video where the guy explained how to do it, made it look so easy, and had accomplished the task in literally one minute and 13 seconds. 

Cut to the reality of fixing my shower door handle:

  • I needed to buy a particular type of screwdriver to start the process.
  • When I took the old handle off, the washers, which were a specialized type and size of plastic, had disintegrated…and were nowhere to be found at any local store.
  • I had to order new washers online and had no shower handle while I waited for them to be delivered.
  • Ultimately, I was successful in tightening up the shower handle, but instead of taking me one minute it took me about 2 weeks.


Your Financial Future

Now cut to your financial future. You can find all kinds of financial ‘information’ online. People sound like they have great ideas – just follow this process, subscribe to their newsletter or buy their book. This is like putting your financial future literally in the hands of strangers who know nothing (and don’t care) about you, your goals, your current situation or your potential future.

And if you’re looking to fulfill goals, like buying a house, sending a child to college, retiring or moving to part-time work, the difference between something taking one minute and 13 seconds vs two weeks is like successfully achieving your goals in your lifetime on your timeline…or not.

Financial planning is a profession, not a hobby. Years of training, education, certification (to become a Certified Financial Planner™) and experience make this a profession dedicated to creating better and more confident financial futures for the people we serve – your goals, your timeline, your success.

Financial planning is not a one-size-fits all or a one-and-done scenario (because life happens) but becomes a life-long trusted and valued two-way relationship. Don’t entrust your future to strangers.