In my latest Globe column, I dig into a study that found LinkedIn users who search for retirement advice are nearly twice as likely to dip into their RRSPs or TFSAs early. Even after adjusting for age, income, and financial literacy.

What’s particularly interesting, and counterintuitive, is that platforms such as Instagram and YouTube, which are usually criticized for showing unrealistic highlight reels of extravagant lifestyles, weren’t the main issue. Instead, professional networking sites, where peers regularly share news of promotions, job changes, bonuses and even early retirements, were found to drive more impulsive financial behaviours.
The hidden risk that LinkedIn and other professional networking sites pose to your retirement
New study finds that individuals who frequently turn to social media are significantly more likely to borrow from their retirement accounts
The Globe and MailPreet Banerjee