Financial advice from Forbes contributor Winnie Sun

- Forbes contributor Winnie Sun is the top financial advisor for Twitter. We asked her some questions on Good Day LA:

Q:  How do you make money from Instagram and YouTube?
A: The new economy is social media, and you can monetize. The first thing is to build your following, which gives you the opportunity to work with avertisers and brands. The most important thing is engagement. It's all about how many respond to your posts. 

Q: What is your advice for a first time stock market investor?
A: Talk to a professional. Think about the companies you have interactions with and make that a foundation of your portfolio.

Q: Should I wait a year to buy a house in Los Angeles? Are the prices going down?
A: Real estate is hard to predict, but we do know that mortgage interest rates and rental rates will go higher. In LA, typically long term real estate goes up. Buy what you need and don't spend more than 30% of your income on housing.

You can find Winnie on Twitter at Winnie Sun.

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