The internet has opinions about your money. Here’s how to navigate them.

Personal finance content is everywhere now – TikTok, Instagram, YouTube, podcasts.

It’s exciting, actually: financial education has never been more accessible to people who aren’t already wealthy. If you’ve been learning from creators, doing your own research, or getting curious about new strategies, good for you! That curiosity is a huge advantage.

Some of the financial content on social media is genuinely helpful. But with so much information (and so many conflicting opinions), it’s hard to know which ideas apply to your life and situation, and which are missing key context.

That’s where working with an advisor matters. When clients send us TikTok links or ask, “Is this legit?”, we love it. It opens the door to real conversations about their goals, their timeline, and their bigger financial picture.

So today, we’re breaking down a few myths we’ve seen circulating online, and sharing how we help clients sort good ideas from misleading ones.

Myth #1: “Mutual fund and ETF fees will eat away your whole retirement.”

The truth: Fees do matter. But the idea that they’ll “eat your entire retirement” simply isn’t accurate.

Here’s what social media rarely mentions:

• Many funds (especially ETFs) have extremely low fees
• Tiny fee differences matter far less than things like how your portfolio is built, how well it’s diversified, and how it performs over the long term
• A well-managed, cost-aware strategy outperforms DIY investing driven by fear of fees

Fees are important to monitor, but they don’t erase your wealth.

Myth #2: “529 plans aren’t useful anymore.”

The truth: 529 plans are more flexible today than ever before. In fact, we wrote an entire blog post about them.

Recent changes have expanded how families can use these plans, including:

• Tax-free growth
• Tax-free withdrawals for qualified education expenses
• Use for private K - 12 tuition
• Coverage for trade and vocational programs
• Ability to roll leftover funds into a Roth IRA for the beneficiary (with rules and limits)

For parents and grandparents looking to support education, 529s remain one of the best tools available.

Myth #3: “You should claim Social Security as early as possible.”

The truth: There are situations where claiming early is wise. But doing it by default can dramatically reduce your lifetime benefit.

Delaying Social Security can significantly increase your monthly income for life.

The right choice depends on:

• Health and longevity expectations
• Spousal benefits
• Income needs
• Other retirement assets you have in place

It’s a deeply personal decision that should be made with a full picture of your financial plan, not a viral clip.

Myth #4: “You should use your 401(k) now for travel.”

The truth: Early withdrawals from a 401(k) come with taxes, penalties and, most costly of all, lost compound growth.

While a vacation or big purchase may look appealing on social media, withdrawing from retirement savings for short-term wants can set your future self back significantly. There are far better ways to plan for travel, milestones, and big expenses without touching long-term assets.

Myth #5: “Taking a loan from your 401(k) is a great way to cover expenses.”

The truth: A 401(k) loan is essentially borrowing from your future wealth.

Yes, these loans exist for a reason. But they come with meaningful risks:

• Money is removed from the market, so you lose potential growth
• If you leave your job, the loan may come due quickly
• If you can’t repay it, taxes and penalties apply

For most people, a 401(k) loan should be a last resort, not a budgeting strategy.

Bottom line: the amount of financial advice online is incredible, but it can also be overwhelming.

Some of it is smart and thoughtful. Some of it is definitely not. And none of it was created with your specific financial life in mind.

So if you come across a video that sparks questions, ideas, or worries, bring it to us. Truly. Send the link. Screenshot the post. Ask us, “Does this make sense for me?”

That’s what we’re here for. To help you:

• Filter the useful ideas from the misleading ones
• Understand how each concept fits (or doesn’t fit) your plan
• Avoid costly decisions based on incomplete information
• Make choices rooted in your long-term priorities and values

Social media can be a great starting point for learning. But your advisor is the place where that information becomes personalized, strategic, and actually actionable.

If you’re curious about something you’ve seen online, let’s talk about it. We love helping clients turn “I saw this on TikTok…” into real clarity and confidence.