Tuesday, April 06. 2021
SEC Advocates for Investor Awareness During National Financial Capability Month
OIEA would like to remind investors of the following resources:
- An investor alert detailing the dangers of investing in social media-based “hot stocks”.
- An investor alert discussing why investors should not to make investment decisions related to SPACs based only on celebrity involvement.
- Information on how to spot coronavirus-related investment scams, how to be alert for promoters encouraging investors to make COVID-related withdrawals from their retirement accounts, and how to guard against financial exploitation due to social isolation, particularly the exploitation of older investors.
- A look at fraud and scams targeting Main Street investors and how to spot warning signs.
- Information for first-time investors.
OIEA has more resources, including information about understanding mutual funds and ETFs that focus on environmental, social, and governance principles (ESG funds), a guide to reading companies’ annual reports, and a webpage focused on aiding investors in choosing a financial professional. There are also free tools available to help investors set investment goals, including a Compound Interest Calculator, a calculator for IRS required minimum distribution from retirement accounts by age, and other tools that analyze mutual funds, retirement goals, and 529 accounts.
As a member of the Financial Literacy and Education Commission, which sets strategic direction for policy, education, practice, research, and coordination, the SEC encourages all investors to use the tools available to make informed financial decisions.
Sources:
SEC Promotes Investor Awareness During National Financial Capability Month (sec.gov)