The Securities and Exchange Commission is encouraging people to start saving and investing early, and with the help of financial advisors.
The securities regulator put out a statement urging investors to visit the Investor.gov website, which provides fundamental advice on how to invest and save efficiently and profitably. The public awareness campaign is part of National Financial Capability Month.
"Education is a critical part of our efforts to empower investors to make informed investment decisions, not only during National Financial Capability Month, but every day throughout the year," SEC Chairman Jay Clayton said in a prepared statement. "Learning how to invest wisely and be alert to risks can help all Americans reach their financial goals."
Investor.gov also offers free financial planning tools, including a compound interest calculator, information on investment products, risks and fees, and a listing of alerts about recent investment scams and bulletins about various securities topics, the SEC said.
"National Financial Capability Month brings increased focus on the importance of financial literacy and provides an opportunity to remind investors of the work they must do to help themselves make smart investment decisions," said Lori J. Schock, director of the SEC's Office of Investor Education and Advocacy, in a statement.
These are among the themes the SEC's investor education office said it will focus on in its public releases this month:
• Learn About the Importance of Saving and Investing Early: Learn about the effect of compounding over time on your initial investment.
• Check Out Your Financial Professional on Investor.gov: Use free resources that are available to check the backgrounds of investment professionals before investing. Learn some top tips for selecting a financial professional.
• Research and Understand Investment Products Before Making a Decision: Understand the basics of investing and how to research public companies before making an investment. Learn about things to consider before investing in an IPO. Learn more about risks involved with fixed-income investments or municipal bonds.
• Take Full Advantage of Company Matching: An easy way to boost your retirement savings is to take full advantage of the “free money” many employer-sponsored retirement plans offer.