Fox Business Covers AICPA Survey on Fake Financial News

May 14, 2017

As a part of The Boomer series, Casey Dowd interviewed Neal Stern, CPA and member of the AICPA’s National CPA Financial Literacy Commission for a piece titled, ‘ How Americans can protect their retirement portfolios from fake news.’ The story was inspired by the results of a recent survey conducted for the AICPA by Harris Poll about the impact fake financial news has on Americans’ ability to make financial decisions. Results showed that the spread of fake news has made it difficult for more than 3-in-5 Americans to make critical financial decisions. To navigate the sea of misinformation, Stern advised, “Avoid quick, reactive decisions based on sound bites or unsubstantiated news that may turn out to be planted rumors, and validate what you hear or read with an established reputable source before taking action. Be cautious about opinions or assertions about the financial consequences of breaking news, even if the news itself is real. It takes a lifetime to build up a retirement portfolio, but it can be lost in one rash decision.”