Today, I talk about how the way you consume financial news can have a huge impact on your emotional state and your long-term success as an investor. I’ve noticed that most financial media today—especially TV and digital platforms—is designed to get you riled up, not to inform you. It’s biased, sensationalized, and built to sell ads, which makes it really dangerous for investors who are trying to stay focused on the long term. Studies show that many investors underperform their actual investments by 3–7% because of emotional decision-making, often driven by news consumption. My advice? Stop watching the news and start reading it. Limit your intake—maybe 15 minutes a day or even just once a week—and stick to reliable, relatively unbiased sources like The Economist (which I read in print), The Wall Street Journal (minus the opinion section), Financial Times, Bloomberg, Morningstar, and Investopedia. Building a smarter, calmer news habit helps you stay informed without being overwhelmed or emotionally swayed—and ultimately makes you a better, more focused investor.

Key Takeaways:

• The average investor underperforms their own investments by 3–7%, largely due to behavior driven by emotional news cycles.

• The Economist and The Wall Street Journal are trusted, relatively balanced sources of financial information.

• Doomscrolling is a destructive habit, especially when it comes to financial decision-making.

• Opinion sections and talk shows are entertainment, not reliable sources of economic insight.

• Choosing quality over quantity in your news consumption makes you a more informed, more resilient investor—and a more grounded person overall.

• Most modern financial media is designed to entertain and provoke, not to inform objectively.

Key Timestamps:

(00:00) – Introduction and Personal Update

(00:33) – The Impact of News on Investing

(01:50) – The Problem with Modern Financial Media

(03:48) – Recommended Financial News Sources

(06:37) – Building Smarter News Habits

(08:12) – Conclusion and Final Thoughts

Key Topics Discussed:

BLUF Veteran Finance Podcast, Military Finance, Veteran Financial Planning, Military Money Management, VA Benefits, Military Retirement Planning, Financial Literacy for Soldiers, Military Budgeting Tips, Debt Management for Service Members, VA Loans, Military Investment Strategies, Saving for Deployment, Thrift Savings Plan (TSP), Transitioning to Civilian Life, Military Tax Benefits, Financial Independence for Veterans, Military Money Manual, The Military Money Show

More of Baskin Financial Planning:

Download the Ultimate Military Finance Checklist⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, with 7 pages of critical things to be thinking about to clarify your journey to financial freedom.

Think you might need some financial help? ⁠⁠⁠⁠⁠Book an intro call with me to see if we would be a mutual fit.

Questions or comments, drop me a note at: erik@baskinfp.com

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