We’re back at it! Here’s my review of more investing TikToks.
My name’s Richard Coffin, I’m an investment analyst with my Chartered Financial Analyst and Certified Financial Planner designations, registered with the Ontario Securities Commission as a portfolio manager.
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Video edited by: Carol Boeira & Richard Coffin
DISCLAIMER:
This channel is for education purposes only and is not affiliated with any financial institution, although Richard does work as an employee for an investment manager. Richard Coffin does not provide recommendations on The Plain Bagel – those looking for investment advice should seek out a registered professional. Richard is not responsible for investment actions taken by viewers.
What was your favourite TikTok? And is there anything you think is worth adding to the reviews?
I genuinely don't understand 401k haters. They act like it's some all or nothing type scenario and that you HAVE to dump your entire paycheck into it. If my employer match is only up to 4 percent, then I'm only contributing up to 4 percent of my gross paycheck into my 401k. It's not meant to get me rich and that's not my intention with it. It's meant to be there for me, along with other investments, so when I'm old and wrinkly as shit I don't have work at Wal-Mart because I blew every paycheck on bs like everyone else does.
"Billion dollar views" don't include seeing other people balconies lmao what a clown
7:02 This guy is so insincere he makes Grant Cardone look like Mister Rogersš
11:41 I spoke too soon.
Technical Analysis is absolutely amazing. Ive made millions off it. The problem is you get 17 year olds making videos after 1 month of trading, regurgitating what they've seen from other traders, and trying to make money off people viewing their video…which anyone with a brain can tell thats not gonna work out. If im following a trader, it definitely aint on tiktok, and they need atleast 10+ years experience, otherwise GTFO.
I'm a big fan of your informed common sense approach AND you are my favorite YouTube personality. I know you won't let that go to your head.
7:01 š
With 401k matching, I think people give too much weight to the excise tax if you pull it out early. If you really want that money somewhere else, you're still better off putting in enough to get the full match and then pulling it out right away. After the excise tax, you've still made an immediate 80% return with no risk.
Ur like Peter Parker but for stonks
Some of these Tik Toks are hard to watch lol. But honestly, it's more sad than anything else. I feel bad for the many people who get scammed and lose money because of these types of people. They are just trying to learn and get ahead in life.
Stock splits feel absolutely useless now since fractional shares are available to everyone.
Jee, just caught you AGAIN! 10:44 focus on INCOME GENERATION?! You mean TO WORK?! And 10:54 think about your SPENDING HABITS?! You mean like "earn first, spend later" and boring old-fashioned stuff like that?! You must be out of your mind š¤£š¤£š¤£! Of course I am just kidding, because that's just how it is, first things first! And if for once you're doing a little better than you thought you would and have some extra money you don''t rely on, then it might be fun to try some of those advices, maybe by chance some of it works, but only then. Thanks for putting it together and presenting it in that very competent but down-to-earth-canadian-style that l like. Cheers from Switzerland – yes, that's where CS is / was at home šš„²
Stock splits probably meant a lot more 5-10 years ago. I remember when I was in high school in 2016 wanting to buy Amazon shares, but not having the $600ish to spare.
Recently I changed jobs nd now have a 401k through Fidelity. I had the option to self manage my portfolio. I went with moderate risk and let them manage it but you can have the option to manage your 401k/Roth IRA.
Mr Bagel would make a good lecturer
He systematically knows how to break down complex theories into simple ones without coming off as someone who knows more than u
Those relatable qualities r what separate good lecturers from the bad ones n I can promise u that the bad out weigh the good most of the time
7:30 there are legitimated issues with being part of a 401k or 403b….but that guy did not list them.
For example the mutual funds could have a crappy expense ratio, your employer could force you out of a position if they choose to do so, if you leave your employer one way or the other they could force you out of all your positions, and as you said there are onerous limitations to what you can invest your money into.
401ks also have access to ETFs and the one I had access to, it also had SPDR ETFs including: The S and P 500.
That guy is probably just one of these 'make your own business' or 'buy real estate' course making people.
I tried investing during the Alphabet split and I lost 5 minutes of my time… wasnĀ“t worth it
5:09 a-classic-shortseller-move
7:45 Grain of truth to angry 401k bro: if you have debt with a double-digit interest rate, your investment returns wont keep pace with the interest youāre paying on the debt, so the more you contribute the more you fall behind.
In that case it may be worth contributing just enough to get the employer match because thatās a 50-100% extra*, but beyond that focus on the debt.
And also yes, at some companies the fund options in the 401k stink. When you change jobs, roll it into an IRA so you can invest it how you want.
* Maybe. If the matching funds donāt really belong to you (donāt āvestā) until youāve been there 5 years and you donāt expect to be, then itās probably not worth planning as if youāll get that extra. Just work on the debt and maybe drop a bit into an IRA.
8:52 Not really. You have to stay with your boss for at least 4 years to actually receive it, if you quit or get fired you lose that āfreeā money
Stonks work, until they dont.
I used to live in the US and had a 401k. I think it does depend on the employer but I had some great index and mutual funds available to me, include an S&P 500 index fund. I didnt have a lot there and eventually pulled it out to add to emergency fund here in Canada but it was pretty good for me.
Hey, I know this is an old video, and idek if you're going to see this, but you say a downside of the 401k is that your employer gets to choose what investment options you can invest in, so you're limited to some mutual funds. The first part is true (sometimes), your employer does choose what you can invest in, but 401ks sometimes allow for purchase of individual stocks, and I've heard of people who's company lets them self direct their 401k however they want through partnership with Schwab. 403bs, the non-profit version (company's are non-profit), have much more limited investment options to just mutual funds and annuities.
@5:30 I was originally interested in Beyond meat as a stock option back when I wanted to invest in individual stocks, I literally sold it at the peak. The product itself sucks, it isn't actually healthier for you because it's basically just made of a ton of processed crap like coconut oil, and it doesn't really taste any better than a fat equivalent burger. You are healthier eating a lean beef patty.
When BYND made a deal with COKE I sold it, it wasn't doing anything to innovate and it was obvious the product just isn't going to complete and the 'impossible burger' (which is privately owned) was likely the one that was actually going to succeed in that space.
10:09 Thatās another thing that stands out to me in this series, the people name-dropping a broker without any specific reason. Is it for low fees, free research, good customer service, or because thatās where a conveniently-placed affiliate link will take them?
Hey that guy that made those calls at the TOP is a good counter signal. š
Can you do a post with more positives? Itās annoying that every single video you choose you talk bad about it. Letās hear something positive.
When I was 15 all I thought about was taming strange.
13:02 funny name but no one i would ever trust any amount of money with.
7:18 you can watch as Richard's brain breaks
I am 100% gonna buy stocks.
I am 100% not gonna do any research š¤¹
@09:58. Maybe Custodial account isn't really on the mind of a 15 yr old or they have better things to spend on, but as a parent, it's very much worth considering for your children's future. I opened one for my son at 10. My mom teaches him piano, which he then teaches his 2 younger sisters. I pay him market rate for those lessons myself, about $3K/yr. There is no tax savings for me, but this provides him with an income source to fun Roth IRA. Now he is 12, it has grown to $10K. I plan to invest 100% his income until he finish college at 22, and "reimburse" him with equal amount of my money. Even assuming only $3K/yr, ending at age 22, with 7% inflation adjusted annual return (10%-3% inflation), it will become $1 million (inflation adjusted) and ensuring him a middle class retirement. I use his custodial account to teach him personal finance. I would recommend financially responsible parents use the custodial account to both teach essential personal finance skills as well as establishing safety nets for their children's future.
This was a funny video, thank you calm-voiced neighbor to the north.
Pretty sure that was just the Hyatt in Long Beach