Investing for the future is one of the most important things you will ever do, so you need to be sure the right people are influencing your decisions.

Unfortunately, too many have fallen in with the wrong crowd, allowing social media “influencers” to decide where and how they invest.

A growing army of self-appointed investment “experts” are luring the unwary into ultra-high risk, unregulated products such as cryptocurrencies, foreign exchange and internet meme stocks like AMC and GameStop, despite having no financial training, qualifications or regulatory approval.

They are all over Facebook, Reddit, Instagram and TikTok, showing off their luxury lifestyles, flashy cars, fancy apartments and exotic holidays, or swapping stories about how day traders have become instant millionaires.

The TikTok hashtag #Bitcoin has received 4.4 billion views to date, while #cryptocurrency has had 1.5 billion, #investment 790 million and #stockstobuy 447 million.

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