Are Personal Finance Magazines Relevant?


I came across an interesting commentary at MarketWatch titled How To Fix Personal Finance Magazines:

Of all the types of magazines that could be threatened by the progress of the Internet, I suspect that the American personal finance segment heads the list.

It seems logical to assume that readers may conclude they can get more up-to-date information online than from a monthly magazine. Let’s face it. A copy of one may seem out of date before you can finish scooping it out of your mailbox…

Then there are the shortcomings of these magazines themselves. Most personal finance publications have been trapped by the “service” element of their offerings for far too long.

For decades, they have mindlessly dispensed the same old advice about the same old subjects. They have trundled out article after article telling me how to save, invest and spend my dough until the pap is coming out of my ears. Clearly, they write this stuff with a whole lot more gusto than I feel when I read it.

The commentary goes on to say that where personal finance magazines can contribute and where they need to reinvent themselves is with advocacy. It’s certainly true that the basics of personal finance are available for free in numerous places on the Internet. I’m a bit curious what others think? Are personal finance magazines outdated and no longer relevant?




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Personal finance magazines need to get into communicating how to save money and live within means to the younger generation. Whether that is a magazine or regular articles in ‘teen’ magazines or supporting school curriculum.

Begin outdated would require that they were ever in-dated. I subscribe to Kiplinger’s. Most of the articles are either (1) a basic description of something (e.g., IRA, annutity) wrapped with a personal interest story or (2) “The X widgets/things you need to get/do for Year”.

The basic problem is a conflict of interest. Should we really expect them to write articles like, “You know that big ad for Fidelity on the inside cover? Well, ignore it, because actively managed funds are bad and Fidelity has higher expenses than Vanguard”. Half the copy of the magazine is recommendations for either individual stocks or actively-managed funds, neither of which most of their subscribers can effectively invest with. I

That, and how often do you hear them talking about short-selling? There are many more buy recommendations than sell recommendations.

[…] Jeffrey offers a take on Jim Cramer’s Mad Money Bad Advice, which doubles as a good argument for index funds, and asks Are Personal Finance Magazines Relevant?. […]