Older Americans are putting overwhelming faith in news to inform their financial decisions as compared to the younger generation, according to the first installment of the new Yahoo Finance-Harris poll.
Eighty-one percent of people ages 55 years and older say their money and investment decisions are influenced by the coverage of current events. Only 25% of people between 18 and 34 years old use the news as an information source for their financial decisions.
The results stem from a poll of 2,033 respondents, conducted from June 15 to 17. Yahoo Finance has teamed up with Harris to produce monthly insights on consumer and workplace trends
Fifty-five percent of U.S. adults get their news from social media, according to a 2019 Pew Research Report, up from 47% in 2018. And Facebook (FB) is the top destination among its peers, with 52% of all U.S. adults getting their news from the platform.