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Speaker 2: Today. The Talk of the Town Facebook Instagram was out
Speaker 2: for eight hours. It caused massive anxiety amongst a lot
Speaker 2: of people, depression, confusion, all of the above not only Instagram,
Speaker 2: Facebook and whatsappened, all of the whole Facebook's trilogy was
Speaker 2: down for the day and its stock was down. Crazy
Speaker 2: stock was down seven percent, I believe, along with the
Speaker 2: rest of the market, which we'll talk about that. So
Speaker 2: all right, let's get into this conversation about Facebook.
Speaker 3: Do you guys question me on if not you but
Speaker 3: if TikTok is going to overtake them in two years
Speaker 3: they have a billion users. This is a clean example
Speaker 3: of why they are not the dominant force they used
Speaker 3: to be. So the whistleblower came out and stated they
Speaker 3: had been covering up the hate speech and as a result,
Speaker 3: you know, the DNS workers went missing for a while.
Speaker 3: Facebook's in trouble. It's a lot of things that I
Speaker 3: want to say about the topic, but I want to.
Speaker 4: Keep us on the air.
Speaker 3: But this is the start of a slow decline of Facebook,
Speaker 3: and the Passinger the guard has begun already.
Speaker 5: Yeah, I mean, I believe I want to say her
Speaker 5: name right, francis huge, and I believe it is the
Speaker 5: name of the whistleblower, So you're not familiar with it.
Speaker 5: So yeah, So she did say that about the hate speech,
Speaker 5: especially during the election, but sex trafficking was one of
Speaker 5: the things she claimed that they knew about and hadn't
Speaker 5: taken action on. So it's interesting with that. Tomorrow she's
Speaker 5: testifying in front of Congress about this information, and today
Speaker 5: Facebook was down, Instagram was down. Now, Ian, I know,
Speaker 5: we only want to call them conspiracy theories, but some
Speaker 5: things just don't happen by accident.
Speaker 3: Some things we got to stay away from as well.
Speaker 3: I mean, I mean, even the privacy changes in an
Speaker 3: ad business from Apple was hurting them dramatically. And that's
Speaker 3: why I kept telling you guys, you guys like, well,
Speaker 3: it never get passed up and the youth is there
Speaker 3: because of Instagram. They let the box remain on Instagram
Speaker 3: because the engagement is not.
Speaker 4: As high as it used to be.
Speaker 3: Yeah, so our business owners, you ill.
Speaker 4: No, I was gonna say, so the ad thing, I'll.
Speaker 5: Just explain that really quickly because role some notes on
Speaker 5: that so people could really understand what's happening with the
Speaker 5: Apple privacy. So Facebook's been warning advertisers for some time
Speaker 5: that apples new privacy features, which allow mobile users to
Speaker 5: app out of being tracked across the iOS apps, would
Speaker 5: cause issues for the way it's ad targeting business typically operates.
Speaker 5: So if you were somebody that spends the Facebook ads
Speaker 5: right and obviously use the iPhone, the iOS. There had
Speaker 5: been some misleading numbers, right, I think they set up
Speaker 5: to fifteen percent.
Speaker 4: The numbers were actually fifteen percent off.
Speaker 5: So if you're spending at a high rate, like a
Speaker 5: lot of small businesses do, to get there their message
Speaker 5: and their company out there to the billions of users
Speaker 5: that are on Facebook, and you're overpaying, and they're saying like, look,
Speaker 5: our numbers are off by fifteen percent now estimated fifteen
Speaker 5: percent could be more. We'll find out a little bit
Speaker 5: more tomorrow. That's a huge issue. That's a huge issueber
Speaker 5: And so I mean they're in a tough spot. They're
Speaker 5: in a tough spot, and I guess the logical question
Speaker 5: for people will be like, all right, well do we
Speaker 5: believe in Facebook?
Speaker 4: Probably? Yeah? Right to fank Stock, where's a good point
Speaker 4: to get in or is it a good time now?
Speaker 4: We're gonna wait t tow it to four.
Speaker 3: No good name me for better companies than Facebook right now.
Speaker 3: There's a reason why Wall Street historically and a heads
Speaker 3: from spaces not like Zuckerberg as the CEO, I will
Speaker 3: not get into it. I G I still need to
Speaker 3: be verified. Brian helped me out, but as a stock
Speaker 3: no don't. I wouldn't touch it.
Speaker 6: So you win. You win to advise people.
Speaker 4: Facebook, I wouldn't touch it.
Speaker 6: Mhm.
Speaker 4: Okay.
Speaker 6: And this is solely because you feel that.
Speaker 2: It has it's reached its peak and it is like
Speaker 2: downhill from here.
Speaker 3: There's limited upsides to Facebook at this moment, even if
Speaker 3: you look outside of acquisitions. What innovation is Facebook had
Speaker 3: in the last five years?
Speaker 4: Okay?
Speaker 5: I mean, are we still taking into account that the
Speaker 5: amount of small businesses and businesses that have used the
Speaker 5: platform and the fact that it's I mean, it's still
Speaker 5: the largest social media platform with all the ancillaries.
Speaker 4: What's happened obviously Instagram and you see.
Speaker 3: I brighte that ball shining behind me. It's a lot
Speaker 3: that I can't say. And for all the stuff that
Speaker 3: I said, for me to say, I can't say something,
Speaker 3: it's much deeper than this. And then also two other
Speaker 3: networks got affected. This isn't just a Facebook thing. It's
Speaker 3: going to be tied to a few other companies. This
Speaker 3: will be a change in of the guard. Can you
Speaker 3: swing trade it and make some coins off of it?
Speaker 4: Sure?
Speaker 6: Long term?
Speaker 3: And I've been a fan of Facebook since two thousand
Speaker 3: and five, when steveg put me on it. I tried
Speaker 3: to get my family to invest in it as an angel.
Speaker 3: Couldn't convince them that one hundred grand would have turned
Speaker 3: into forty eight million by now probably no, yes.
Speaker 2: Stay away, all right, So okay, stay away from Facebook.
Speaker 2: Then any last words about Facebook?
Speaker 3: For my business owners began to start to use TikTok,
Speaker 3: LinkedIn and other platforms. And also, if you do not
Speaker 3: have the data of your customer and client lists personally,
Speaker 3: you're going to be in trouble. There's a lot of
Speaker 3: people today who were depressed because they thought they were
Speaker 3: going to go out of business because they don't have
Speaker 3: access to their client data.
Speaker 4: Only you are possible for your own business. Yeah. Please.
Speaker 5: Wall Street Journal had an article about that, especially people
Speaker 5: in the fitness industry where they rely solely to reach
Speaker 5: their customers through Facebook or Facebook Messenger, and how in
Speaker 5: the day they lost business because there was no way
Speaker 5: to contact them. Your It's interesting that they Facebook actually
Speaker 5: pushed the message out that they were down on Twitter, yeah, the.
Speaker 6: Outlet they couldn't put it on Facebook, Instagram.
Speaker 4: Yeah, I thought that was that was pretty ironic.
Speaker 5: Okay, Well, you were known for being the social media
Speaker 5: giant that had to go to another one because we're
Speaker 5: having quote unquote technical issues.
Speaker 2: Can I can I okay? Well, Facebook, hold your head,
Speaker 2: let me let me. I want to just do something
Speaker 2: if we can real quick, because I've been traveling a lot.
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Speaker 2: Given me and people, and thank you for all your
Speaker 2: encouraging words. We really really appreciate it. What I realized
Speaker 2: is that is Sha'll tell you on YouTube four thousand
Speaker 2: people please hit the like button. I realized there's a
Speaker 2: lot of people that tune into us and are just
Speaker 2: getting started and are just new to investing. So even
Speaker 2: though we mentioned something before, it might be good to
Speaker 2: every once in a while just kind of refresh it.
Speaker 2: So if we could take a couple of minutes, I
Speaker 2: wanted to talk about something that is we've talked about before,
Speaker 2: but it's always a relevant conversation and something that's always
Speaker 2: extremely important investing for your children, and kind of just
Speaker 2: you know, just break this down a little bit. So
Speaker 2: I want to I want to, like I said, I
Speaker 2: don't want to rush over things, and I want to
Speaker 2: make sure that everybody has a good understanding so that
Speaker 2: they can go out and execute and really put these
Speaker 2: plays into action, because that's what we're here for. So
Speaker 2: when we talk about investing for your children, you know,
Speaker 2: we talk about two things. Really, the five to twenty
Speaker 2: nine plan. We've spoke about that before and the five
Speaker 2: to twenty nine plan, our state sponsored investing plans. We
Speaker 2: used to be college savings, but President Trump a few
Speaker 2: years ago he changed that with the tax law that
Speaker 2: he passed, and now you can actually use the money
Speaker 2: for any form of education. So the benefit of the
Speaker 2: five to twenty nine plan is that the money grows
Speaker 2: and it's tax.
Speaker 6: Free as long as you use it for education.
Speaker 2: So, you know, you have different states, every state, New York,
Speaker 2: New Jersey, Connecticut, California, and they all have five to
Speaker 2: twenty nine plans. Depending on which state you live in,
Speaker 2: you can get a state tax deduction. You can't get
Speaker 2: a federal tax deduction, but it's depending on what state
Speaker 2: you live in. You can get a state tax deduction
Speaker 2: if you invest in that state's five to twenty nine plans.
Speaker 2: So that might be something to look into if you
Speaker 2: are interested in investing money and having money for private school,
Speaker 2: for you know, college, for prep school, any any of
Speaker 2: the above. So that's the question that people get a lot.
Speaker 2: And then there's another alternative to that, which is the UTMA,
Speaker 2: which is the Uniform transfers a miners account and you
Speaker 2: can really open that on any brokerage. And what that
Speaker 2: allows you to do is set up an investment account,
Speaker 2: just like you would set up an investment account for yourself,
Speaker 2: but an investment account for your child. You don't have
Speaker 2: the same tax benefits, but you can use the money
Speaker 2: for whatever you want, not just education. So now you
Speaker 2: know you can use the money down the line. You
Speaker 2: can give them the start of business, or they you know,
Speaker 2: want to just buy a car, whatever they want to do.
Speaker 2: It's an investment account that they have access to when
Speaker 2: they're an adult. But now you can invest in ETFs,
Speaker 2: you can invest in index funds, you can invest in
Speaker 2: individual stocks. So that's another you know, way to say
Speaker 2: for a child just has a lot more flexibility so you.
Speaker 6: But you don't have the same tax benefits.
Speaker 2: So that's something that, like I said, I just wanted
Speaker 2: to kind of throw that in there, because every week
Speaker 2: I think we should just talk like just one I
Speaker 2: don't even want to call it basic because everybody's in
Speaker 2: different levels. So it's just one thing that we might
Speaker 2: have to just go back to, you know, the beginning stages,
Speaker 2: because at least, you know, there are some people that's
Speaker 2: watching this that's watching this for the first time and
Speaker 2: have not invested. So we just always want to make
Speaker 2: sure that we mix in high level conversations with some
Speaker 2: conversations that might be a little bit more you know,
Speaker 2: beginning level, so people have you know, a clear understanding
Speaker 2: so they can take action.
Speaker 6: You gentlemen, want to add anything.
Speaker 4: To that, I'll just add to the up conversation.
Speaker 5: So when you talked about stocks, we talked about iras,
Speaker 5: but you can.
Speaker 4: Also up invest in real estate and in art cars.
Speaker 5: It's not really limited, whereas the UGMA it's traditionally just
Speaker 5: for stocks, bonds, and iras. So there's a slight difference
Speaker 5: between the two, but both of the studio accounts a
Speaker 5: great way, a great tool to invest for your children.
Speaker 5: We talk about ours all the time and how we're
Speaker 5: investing for our children so that when they reach a
Speaker 5: certain age, they'll have an income that we never saw
Speaker 5: because it's not that our parents weren't prepared, but they
Speaker 5: weren't possibly not properly educated or even knew about what
Speaker 5: these things were. So the more we learn, the more
Speaker 5: we're able to teach. So we're just passing that forward.
Speaker 2: Ian you want to add anything to that, Yeah, the
Speaker 2: more that you invest for your child, the better.
Speaker 3: That's the most important decision that a parent has to
Speaker 3: make right now, right now. How much you're going to
Speaker 3: invest for your child every single month, and do not
Speaker 3: deviate from that plan. Even if you put away ten
Speaker 3: thousand dollars for your child, by the time time at twenty,
Speaker 3: they should have a million easily, if you listen to
Speaker 3: some of the advice that I give, and the market
Speaker 3: continues to run at this pace, be more than that.
Speaker 3: So put money away from your child every way, every month.
Speaker 3: Then it should be the first bill that you pay
Speaker 3: every single month.
Speaker 4: For sure. I got a question for both of you.
Speaker 5: Right, So when we talk about ourselves as individuals, we
Speaker 5: always say, all right, we should have this amount of
Speaker 5: money saved for six to twelve months and have a portfolio.
Speaker 5: Make sure it's diversifyed. What do you think about for
Speaker 5: our children? Are we going to have that same approach?
Speaker 5: But we have custodio accounts, we have a savior's account.
Speaker 5: What do you think for your child?
Speaker 2: Yeah, I mean I think that you want to stay
Speaker 2: we have to have a savings account for your child,
Speaker 2: but you can have I would have a five to
Speaker 2: twenty nine plan if you want to go that approach,
Speaker 2: Like if you want to have just money just for college,
Speaker 2: because that's real big A lot of people want to
Speaker 2: just save money just for college. You have the five
Speaker 2: to twenty nine plan. But then if you want to
Speaker 2: just have money just for them, then you will go
Speaker 2: with them. So you can do you can actually do both.
Speaker 2: And another question is like how much should you put away?
Speaker 2: There's really no set number. It depends on how much
Speaker 2: money you have, but I go with the eighty twenty
Speaker 2: eighty percent of your investment budget should be for yourself
Speaker 2: and then twenty percent should be for your child it's
Speaker 2: my opinion. I feel like you have to secure your
Speaker 2: own future before you can secure anybody else's future, including
Speaker 2: your child. So you know, make sure that you're investing
Speaker 2: in your own retirement first, make sure you're investing in
Speaker 2: your own broken's account first. Make sure you're investing in
Speaker 2: yourself first, because ultimately, if you don't have enough money
Speaker 2: in your own account and you have money in your
Speaker 2: child's account and you need money, you're going to take
Speaker 2: money from the account.
Speaker 4: Anyway.
Speaker 2: It's happened before, so yeah, I've seen it happen before.
Speaker 2: It is it is lightning in La. So that's my
Speaker 2: that's my thoughts. Like I said, that's just something that
Speaker 2: secure your own secure your own future first.
Speaker 3: And if you invest a long term for your child,
Speaker 3: you won't need the savings, I think, because the gains
Speaker 3: and the compounder will be there and you're going to
Speaker 3: get a hell of a better return doing it that
Speaker 3: way for sure. That that's what I've done for Xander
Speaker 3: and it's worked out amazing. So I would say invest
Speaker 3: every dollar that you can for your child, and even
Speaker 3: with parents and friends, instead of getting your kids' toys,
Speaker 3: have them invest directly into the market. For your child
Speaker 3: if they really care about them.
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