Weekend Reading: Fake News Edition

One of the biggest post-election stories has been how the proliferation of ‘fake news’, particularly on Facebook, may have influenced voter behaviour. The Washington Post interviewed a fake news writer who actually believed Donald Trump is in the White House because of his online hoaxes. Gullibility of the masses meant this writer was earning upwards of $10,000 per month from people clicking on ads within his stories.

Facebook founder Mark Zuckerberg doesn’t think fake news is a big deal, saying these types of hoaxes represent a “very small amount of the content.” That’s a dangerous stance to take, according Canadian tech-blogger Peter Nowak, who says that conspiracy theories, bad science and just plain old nonsense are exploding as a result:

“Needless to say, people armed with bad information usually make bad decisions.”

Think before you share:

No more door-to-door

I hate door-to-door sales with a passion and last year I wrote an open letter to city councils urging them to ban door-to-door sales. I also loved reading Rob Carrick’s latest article in The Globe and Mail, which said door-to-door is no way to make big purchasing decisions:

“It’s time we all agreed that serious business cannot possibly be conducted on a door-to-door basis.”

Then I was pleased to read that Ontario is taking steps to ban door-to-door sales, and most recently my own province of Alberta will prohibit unsolicited door-to-door selling of energy products to protect people from misleading, high-pressure sales practices.

Well done!

This Week(s) Recap:

Thanks to ModernAdvisor’s blog for including my tips to help Millennials manage their money.

Special thanks to Sandi Martin and the rest of the crew over at the Because Money video podcast. They recently invited me on as a guest to talk about personal economy and how the types of questions I get from Albertans has changed since the economic downturn.

Last Wednesday Marie asked if you’re wasting time to save money.

Last Friday I wrote about the new Tangerine Dividend Portfolio.

And last weekend we recapped our family trip to Calgary.

On Monday this week I explained how to boost retirement savings in your final working years.

On Wednesday Marie asked why are Canadians so loyal to their banks?

And on Friday we answered a question from the mailbag about what to do after paying off your mortgage.

Weekend Reading:

A long-read from one of my favourite authors, Michael Lewis, on how two trailblazing psychologists turned the world of decision science upside down.

Behaviour. It turns out YOU are the real reason your investment returns suck. But, as Tom Bradley points out, help is on the way.

Tom also offers $73 million reasons for CRM2.

How an extra 1 percent investment fee will cost you 16 years of retirement income.

Million Dollar Journey shares a real life example of Norbert’s Gambit and foreign exchange with BMO Investorline.

Money We Have blogger Barry Choi says it’s time to stop making RRSP excuses.

Like any generation that spans 20-25 years, marketers are coming to understand that not all Millennials are created equal.

An incredible list of 111 insurance myths debunked over at InsureEye.

ESI Money asks, what are your money milestones?

These early retirees who saved $1 million share their best 7 resources.

A disturbing look into a Loblaw’s shopper who was secretly signed up for a credit card.

In this never-ending saga, Air Miles customers complain they can’t get their hands on rewards as the expiry date looms.

This ought to go over well. Starting in January, United Airlines customers flying on the lowest fare will have to store their bag under their seat or else pay to use the overhead bins.

Mark Seed answers a reader question about retiring on a low income.

More seniors are flocking to Airbnb to supplement their income in retirement.

The Blunt Bean Counter lists the top 10 estate planning mistakes.

Finally, an amazing story about Carlie Weinreb, an 8-year-old who can do your taxes.

Have a great weekend, everyone!

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