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Today. The Talk of the Town Facebook Instagram was out for eight hours. It caused massive anxiety amongst a lot of people, depression, confusion, all of the above not only Instagram, Facebook and whatsappened, all of the whole Facebook's trilogy was down for the day and its stock was down. Crazy stock was down seven percent, I believe, along with the rest of the market, which we'll talk about that. So all right, let's get into this conversation about Facebook.
Do you guys question me on if not you but if TikTok is going to overtake them in two years they have a billion users. This is a clean example of why they are not the dominant force they used to be. So the whistleblower came out and stated they had been covering up the hate speech and as a result, you know, the DNS workers went missing for a while. Facebook's in trouble. It's a lot of things that I want to say about the topic, but I want to.
Keep us on the air.
But this is the start of a slow decline of Facebook, and the Passinger the guard has begun already.
Yeah, I mean, I believe I want to say her name right, francis huge, and I believe it is the name of the whistleblower, So you're not familiar with it. So yeah, So she did say that about the hate speech, especially during the election, but sex trafficking was one of the things she claimed that they knew about and hadn't taken action on. So it's interesting with that. Tomorrow she's testifying in front of Congress about this information, and today
Facebook was down, Instagram was down. Now, Ian, I know, we only want to call them conspiracy theories, but some things just don't happen by accident.
Some things we got to stay away from as well. I mean, I mean, even the privacy changes in an ad business from Apple was hurting them dramatically. And that's why I kept telling you guys, you guys like, well, it never get passed up and the youth is there because of Instagram. They let the box remain on Instagram because the engagement is not.
As high as it used to be.
Yeah, so our business owners, you ill.
No, I was gonna say, so the ad thing, I'll.
Just explain that really quickly because role some notes on that so people could really understand what's happening with the Apple privacy. So Facebook's been warning advertisers for some time that apples new privacy features, which allow mobile users to app out of being tracked across the iOS apps, would cause issues for the way it's ad targeting business typically operates. So if you were somebody that spends the Facebook ads
right and obviously use the iPhone, the iOS. There had been some misleading numbers, right, I think they set up to fifteen percent.
The numbers were actually fifteen percent off.
So if you're spending at a high rate, like a lot of small businesses do, to get there their message and their company out there to the billions of users that are on Facebook, and you're overpaying, and they're saying like, look, our numbers are off by fifteen percent now estimated fifteen percent could be more. We'll find out a little bit more tomorrow. That's a huge issue. That's a huge issueber
And so I mean they're in a tough spot. They're in a tough spot, and I guess the logical question for people will be like, all right, well do we believe in Facebook?
Probably? Yeah? Right to fank Stock, where's a good point to get in or is it a good time now? We're gonna wait t tow it to four.
No good name me for better companies than Facebook right now. There's a reason why Wall Street historically and a heads from spaces not like Zuckerberg as the CEO, I will not get into it. I G I still need to be verified. Brian helped me out, but as a stock no don't. I wouldn't touch it.
So you win. You win to advise people.
Facebook, I wouldn't touch it.
Mhm.
Okay.
And this is solely because you feel that.
It has it's reached its peak and it is like downhill from here.
There's limited upsides to Facebook at this moment, even if you look outside of acquisitions. What innovation is Facebook had in the last five years?
Okay?
I mean, are we still taking into account that the amount of small businesses and businesses that have used the platform and the fact that it's I mean, it's still the largest social media platform with all the ancillaries.
What's happened obviously Instagram and you see.
I brighte that ball shining behind me. It's a lot that I can't say. And for all the stuff that I said, for me to say, I can't say something, it's much deeper than this. And then also two other networks got affected. This isn't just a Facebook thing. It's going to be tied to a few other companies. This will be a change in of the guard. Can you swing trade it and make some coins off of it?
Sure?
Long term?
And I've been a fan of Facebook since two thousand and five, when steveg put me on it. I tried to get my family to invest in it as an angel. Couldn't convince them that one hundred grand would have turned into forty eight million by now probably no, yes.
Stay away, all right, So okay, stay away from Facebook. Then any last words about Facebook?
For my business owners began to start to use TikTok, LinkedIn and other platforms. And also, if you do not have the data of your customer and client lists personally, you're going to be in trouble. There's a lot of people today who were depressed because they thought they were going to go out of business because they don't have access to their client data.
Only you are possible for your own business. Yeah. Please.
Wall Street Journal had an article about that, especially people in the fitness industry where they rely solely to reach their customers through Facebook or Facebook Messenger, and how in the day they lost business because there was no way to contact them. Your It's interesting that they Facebook actually pushed the message out that they were down on Twitter, yeah, the.
Outlet they couldn't put it on Facebook, Instagram.
Yeah, I thought that was that was pretty ironic.
Okay, Well, you were known for being the social media giant that had to go to another one because we're having quote unquote technical issues.
Can I can I okay? Well, Facebook, hold your head, let me let me. I want to just do something if we can real quick, because I've been traveling a lot.
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Given me and people, and thank you for all your encouraging words. We really really appreciate it. What I realized is that is Sha'll tell you on YouTube four thousand people please hit the like button. I realized there's a lot of people that tune into us and are just getting started and are just new to investing. So even though we mentioned something before, it might be good to every once in a while just kind of refresh it.
So if we could take a couple of minutes, I wanted to talk about something that is we've talked about before, but it's always a relevant conversation and something that's always extremely important investing for your children, and kind of just you know, just break this down a little bit. So I want to I want to, like I said, I don't want to rush over things, and I want to make sure that everybody has a good understanding so that they can go out and execute and really put these
plays into action, because that's what we're here for. So when we talk about investing for your children, you know, we talk about two things. Really, the five to twenty nine plan. We've spoke about that before and the five to twenty nine plan, our state sponsored investing plans. We used to be college savings, but President Trump a few years ago he changed that with the tax law that he passed, and now you can actually use the money
for any form of education. So the benefit of the five to twenty nine plan is that the money grows and it's tax.
Free as long as you use it for education.
So, you know, you have different states, every state, New York, New Jersey, Connecticut, California, and they all have five to twenty nine plans. Depending on which state you live in, you can get a state tax deduction. You can't get a federal tax deduction, but it's depending on what state you live in. You can get a state tax deduction if you invest in that state's five to twenty nine plans.
So that might be something to look into if you are interested in investing money and having money for private school, for you know, college, for prep school, any any of the above. So that's the question that people get a lot. And then there's another alternative to that, which is the UTMA, which is the Uniform transfers a miners account and you
can really open that on any brokerage. And what that allows you to do is set up an investment account, just like you would set up an investment account for yourself, but an investment account for your child. You don't have the same tax benefits, but you can use the money for whatever you want, not just education. So now you know you can use the money down the line. You can give them the start of business, or they you know, want to just buy a car, whatever they want to do.
It's an investment account that they have access to when they're an adult. But now you can invest in ETFs, you can invest in index funds, you can invest in individual stocks. So that's another you know, way to say for a child just has a lot more flexibility so you.
But you don't have the same tax benefits.
So that's something that, like I said, I just wanted to kind of throw that in there, because every week I think we should just talk like just one I don't even want to call it basic because everybody's in different levels. So it's just one thing that we might have to just go back to, you know, the beginning stages, because at least, you know, there are some people that's watching this that's watching this for the first time and
have not invested. So we just always want to make sure that we mix in high level conversations with some conversations that might be a little bit more you know, beginning level, so people have you know, a clear understanding so they can take action.
You gentlemen, want to add anything.
To that, I'll just add to the up conversation.
So when you talked about stocks, we talked about iras, but you can.
Also up invest in real estate and in art cars.
It's not really limited, whereas the UGMA it's traditionally just for stocks, bonds, and iras. So there's a slight difference between the two, but both of the studio accounts a great way, a great tool to invest for your children.
We talk about ours all the time and how we're investing for our children so that when they reach a certain age, they'll have an income that we never saw because it's not that our parents weren't prepared, but they weren't possibly not properly educated or even knew about what these things were. So the more we learn, the more we're able to teach. So we're just passing that forward.
Ian you want to add anything to that, Yeah, the more that you invest for your child, the better.
That's the most important decision that a parent has to make right now, right now. How much you're going to invest for your child every single month, and do not deviate from that plan. Even if you put away ten thousand dollars for your child, by the time time at twenty, they should have a million easily, if you listen to some of the advice that I give, and the market continues to run at this pace, be more than that. So put money away from your child every way, every month.
Then it should be the first bill that you pay every single month.
For sure. I got a question for both of you.
Right, So when we talk about ourselves as individuals, we always say, all right, we should have this amount of money saved for six to twelve months and have a portfolio. Make sure it's diversifyed. What do you think about for our children? Are we going to have that same approach? But we have custodio accounts, we have a savior's account. What do you think for your child?
Yeah, I mean I think that you want to stay we have to have a savings account for your child, but you can have I would have a five to twenty nine plan if you want to go that approach, Like if you want to have just money just for college, because that's real big A lot of people want to just save money just for college. You have the five to twenty nine plan. But then if you want to just have money just for them, then you will go with them. So you can do you can actually do both.
And another question is like how much should you put away? There's really no set number. It depends on how much money you have, but I go with the eighty twenty eighty percent of your investment budget should be for yourself and then twenty percent should be for your child it's my opinion. I feel like you have to secure your own future before you can secure anybody else's future, including
your child. So you know, make sure that you're investing in your own retirement first, make sure you're investing in your own broken's account first. Make sure you're investing in yourself first, because ultimately, if you don't have enough money in your own account and you have money in your child's account and you need money, you're going to take money from the account.
Anyway.
It's happened before, so yeah, I've seen it happen before. It is it is lightning in La. So that's my that's my thoughts. Like I said, that's just something that secure your own secure your own future first.
And if you invest a long term for your child, you won't need the savings, I think, because the gains and the compounder will be there and you're going to get a hell of a better return doing it that way for sure. That that's what I've done for Xander and it's worked out amazing. So I would say invest every dollar that you can for your child, and even with parents and friends, instead of getting your kids' toys,
have them invest directly into the market. For your child if they really care about them.
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