The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) recently launched a compelling public service campaign aimed at empowering older investors to continuously educate themselves on safeguarding their hard-earned money and securing their financial future. As part of this campaign, they have unveiled a captivating TV spot titled “Never Stop Learning.” This engaging advertisement, available in both English and Spanish, showcases vibrant scenes of older adults embracing life to the fullest, from surfing and sightseeing to cherishing moments with their grandchildren. The underlying message is clear: never stop having fun, exploring new horizons, and most importantly, never stop learning, especially when it comes to investing and protecting your wealth.
The campaign further includes four informational videos that tackle various essential aspects of investment protection for older investors. Each video sheds light on crucial topics and provides valuable insights into safeguarding financial interests. Let’s explore these videos in detail:
1. Caregivers: Financial Warning Signs You Should Know
This video is dedicated to educating caregivers on the warning signs of investment fraud. By raising awareness and providing knowledge, caregivers can play a crucial role in protecting those they care for from financial scams. The video emphasizes the importance of remaining vigilant for sudden financial changes, missing cash, and suspicious account activities such as unusual withdrawals or wire transfers. By staying alert and proactive, caregivers can actively safeguard their loved ones’ financial well-being.
2. Red Flags of Fraud
This video aims to empower older investors by equipping them with knowledge about common scams. It covers a range of fraudulent activities, including romance scams, imposter scams, and crypto scams. By highlighting red flags, the video helps investors identify potential threats. The video cautions against time-sensitive offers, high-pressure sales tactics, and deals that appear too good to be true. It stresses the significance of conducting independent research and avoiding hasty investment decisions. By staying informed and cautious, investors can protect themselves from falling victim to scams.
3. Protect Your Retirement Money
Retirement money holds immense value for older investors, making it vital to take steps to safeguard these funds. This video provides actionable tips to help investors protect their retirement savings. It emphasizes the importance of conducting thorough background checks on investment professionals before entrusting them with financial decisions. The video also advises against making impulsive investment choices driven by the fear of missing out, as well as the significance of using strong passwords and minimizing the personal information shared publicly. Lastly, it encourages investors to review and adjust privacy settings to ensure the security of their online and social media accounts. By implementing these measures, investors can fortify their retirement funds.
4. Trusted Contact
Designating a trusted contact can provide an additional layer of security for an individual’s brokerage account. In this video, the importance of selecting a trusted contact is highlighted. A trusted contact serves as a backup for the account holder, particularly in situations where they cannot be reached, face illness, or experience diminished capacity. This video emphasizes the advantages of having a trusted contact who can verify personal information, address suspicious account activity, confirm an investor’s health status, and validate authorized individuals to assist with the accounts. By establishing a trusted contact, investors can ensure a reliable support system for their investments.
Never Stop Learning Resource Pages
To complement the campaign, the OIEA has developed dedicated resource pages for older investors in both English and Spanish. These pages aim to promote the availability of free tools and resources on Investor.gov. By visiting these pages, investors can access a wealth of information covering various topics, such as retirement investing, fraud detection, conducting background checks on investment professionals, and more. The resource pages empower older investors with the tools and knowledge needed to protect their hard-earned money from fraudulent schemes and financial abuse.
Empower Yourself with Knowledge
Gary Gensler, the Chair of the SEC, encourages all investors, including older individuals, to leverage the resources available on Investor.gov. Gensler emphasizes that being an informed investor equates to being a more effective investor. Whether you are building your nest egg, already in retirement, or preparing for financial challenges, continuous learning, and awareness are vital.
Lori Schock, the Director of the SEC’s Office of Investor Education and Advocacy, acknowledges the wealth of life experience held by older investors. The campaign’s goal is to encourage them to build upon their experiences and knowledge by fostering a mindset of continuous learning when it comes to investing and fraud protection. Through this year’s campaign and the newly introduced Never Stop Learning resource pages, vital information is made accessible to older investors. Armed with these resources, they can effectively safeguard their financial interests from fraud and abuse.
Empower yourself by embracing the spirit of continuous learning and protecting your financial future. Be proactive in utilizing the resources available on Investor.gov and stay informed about investing wisely. Remember, knowledge is your best defense against fraud and abuse.
For more information, or to speak to a securities attorney, visit New York Securities Lawyer at www.securitieslawyer.us.