Tess Vigeland
speaker
155 appearances
8 recordings
2 series
first heard Nov 2024
last heard 13 Apr
Tess Vigeland’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Apr 2026 with 1.
Appearances
Among those creators, 44% are working full time, and that figures out to about 12 million full time social media influencers. That's just bananas.
Well, we're going to hone in on one piece of FinTalk advice that's been making the rounds on TikTok for a while now. Some influencers claim it's better to invest in life insurance than a 401k for retirement.
So Alana, what is the actual advice going around on TikTok? And is it coming from influencers who are also financial experts?
So part of an influencer's job is persuasion, right? So what's their reasoning for life insurance supposedly being a better investment vehicle than a 401k?
And I'll mention here that NerdWallet has an article that lays out the best whole life insurance companies depending on your needs. So if you are in the market for whole term life insurance anyway, not replacing your 401k, and you want to prioritize cash value growth, then you can find the best option for that in our write-up, which we'll link to in today's show notes.
And unlike social media influencers, our insurance nerds have spent more than 2,950 hours reviewing more than 176 products for a little extra context. Wow, that's very specific on the hours there. Anyway, life insurance obviously is not the same as getting a free box of skincare to talk about on a TikTok video.
But it does sound, Alana, like these influencers are incentivized to disperse this kind of advice.
Excellent advice. Alana Benson, thanks again for helping us out today. Absolutely. Thank you. Up next, a few money headlines for the last few days. Ana, a couple of big economic numbers came out in the days before Election Day. The Commerce Department reported last week that the economy grew at a 2.8% annual rate in the third quarter.
That's just shy of the 3% rise in gross domestic product in the second quarter.
Yeah, consumers have really been the heroes of the post-pandemic economic recovery. We keep spending like the Energizer bunny. And in Q3, we spent the most on health care, food and accommodations, non-durable goods, and cars and car parts. I did not help there, though. My car didn't need any parts.
Oh, no. Mm-hmm. The other big pre-election number is the monthly jobs report. And here the news wasn't so great. The economy added just 12,000 jobs in October, a huge drop from the 223,000 added in September. But remember what happened in October?
That's up a bit from a year ago when the unemployment rate was 4.8% and 6.4 million people were without jobs.
We usually hear from Fed Chairman Jerome Powell on Wednesdays during these meetings. But instead, again, because of the election, he'll be delivering remarks on Thursday.
And that's it for this week's Money News. We always welcome your money questions and comments. Turn to the nerds and call or text us your questions at 901-730-6373. That's 901-730-NERD. Or send us a voice memo at podcast at nerdwallet.com. And remember, you can follow the show on your favorite podcast app, including Spotify, Apple Podcasts, and iHeart Radio to automatically download new episodes.
And here's our brief disclaimer. We are not financial or investment advisors. This nerdy info is provided for general educational and entertainment purposes and may not apply to your specific circumstances.
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