TikTok, the rapidly growing social media platform, is renowned for its diverse array of niche communities. From woodworking to coin collecting, users share their passions and learn from those with more experience or insight.
The finance community on TikTok is no exception, with finance professionals and enthusiasts alike sharing valuable financial advice.
However, discerning viewers have to tread cautiously, as not all advice is sound. One recent “get rich” plan proposed by a financial influencer has faced a wave of criticism for its absurdity.
The ‘Beg-a-Millionaire’ Strategy
Entrepreneur and TikToker Noah Kagan regularly interviews financial experts on his show, seeking tips to help his followers attain financial stability and prosperity.
In a recent episode, he asked his guest to share advice for those whose life dream was to amass a million dollars. The response was nothing short of astounding.
The guest stated, “Anyone can really become a millionaire… all you gotta do is get a dollar from a million people out of like 8 billion. If you just walk around every single day asking for a dollar, you can get $1,000,000 pretty easily.”
TikTok Community Reacts
The supposed advice was met with immediate derision, with TikTok users lambasting it as impractical, and some even calling it outlandish.
Whether the guest was advocating for literally begging a million people for a dollar or suggesting the development of a low-cost product, viewers were quick to highlight the absurdity of the proposed strategy.
One user commented, “Lmfao this guy is an absolute moron.”
Another took a more mathematical approach, calculating that by asking for a dollar every five minutes for eight hours a day, one would take 17 years to reach a million dollars.
Others pointed out the strategy’s lack of consideration for living costs, such as rent and food, which would prolong the time to amass the desired wealth.
One user poignantly summarized the overall sentiment by asking, “So why aren’t all homeless people millionaires if they beg for money all day?”
A Word of Caution
The “beg-a-millionaire” advice, regardless of whether it was intended as a poor hyperbole or genuine advice, serves as a reminder to exercise discernment when consuming financial advice on social media platforms.
While TikTok can be a valuable source of financial insights and strategies, not all advice is equally valid or viable. If you’re looking to achieve millionaire status, it’s safe to say you can give this “strategy” a miss.