• May 1, 2003

New research by Knowledge Networks indicates that conventional media, advisers, and financial services retain a powerful influence on how Baby Boomers approach money management. The survey was developed in collaboration with the editors of American Demographics. Baby Boomers are relying on traditional media - primarily television and newspapers - for financial news. On a weekly basis, 41% turn to newspapers to learn about money matters; 41% turn to TV; 28%, radio; and 27%, the Internet. By contrast, 29% say they consult with family or friends about money at least once a week. Among those who get financial information from TV at least once a week, roughly equal portions say they turn to all-news channels (62%) and to broadcast network newscasts (60%). In addition, as income and/or expected inheritance increase, consumers are much more likely to get money news from all-business TV networks. On the Internet, Boomers are as likely to rely on ISP sites (33%) - such as Yahoo.com or AOL.com - for financial news as all-news sites (35%).