Why Newspapers Are Dying
There are a lot of reasons why newspapers are dying. I can look no further than all the commuters on the train each day. More of them are carrying BlackBerry’s and fewer are carrying newspapers. When I look at my own habits, the BlackBerry works because it integrates not only my daily news needs but other information such as email, stock quotes, texting, etc.
But there is one small subtle point that really irks me and demonstrates why newspapers won’t last unless they change. A major New Jersey newspaper carries a few financial columns where people write in and ask for financial advice.
If you read these columns they still smack of the old guard where the writer guards the information and only ‘experts’ can give advice. Any kind of financial advice is going to involve the following topics at a minimum: income, debt, savings, investments.
The most recent article they conveniently forget to mention what the income of the couple was. Is it a secret? I read quite a lot of financial information and their whole take on the couple’s cash flow was in my mind unintelligible. Is this what they intended, to confuse so the average reader will just run to the CFP or CFA?
There is a place for professional advice. As I have indicated elsewhere, this site is not run by a professional CFP.
There needs to be more transparency in their advice. So, if a reader did want to seek professional help they would have a better understanding of the issues. That’s why I think newer technologies such as blogging will ultimately lead to better advice.