SPRINGFIELD – April is national savings and investing month. To help
raise financial awareness and protect residents against
fraud, Illinois Secretary of State Jesse White is taking
part in the investor education campaign.
"Never before has investor education been more
important," said Secretary White. "Today we are a nation of
investors. A generation ago less than 20 percent of
households were invested in the stock market; today nearly
half of all households own stock."
Representatives from the Illinois Secretary of State’s
Securities Department will be visiting schools, broadcasting
public service announcements and distributing material
during the month to try to teach people about investing.
The month-long investor education campaign, dubbed the
Facts on Savings and Investing Campaign, is a joint effort
of state and federal securities regulators, federal
government agencies and private sector organizations. The
campaign is now in its third year.
"American investors face a bewildering array of
choices. To be successful they need to understand the
basics of saving and investing, know how to check out an
investment or salesperson and how to protect themselves
against possible fraud," said White.
To educate young people about saving and investing, the
Department has joined forces with Financial Literacy 2001, a
joint effort of securities regulators and the securities
industry. FL2001 is a fully developed financial literacy
curriculum tailored to each state and provided free to
public and non-public schools to be used in middle and high
school classrooms. To date, 80 schools throughout Illinois
are participating in the program, with more joining every
day.
This year, the department also launched a public
service campaign aimed at alerting Illinois citizens of the
dangers of investment fraud. The campaign, titled 'Caution:
Scam Ahead' includes radio and television ads and a longer
video detailing fraudulent practices and how consumers can
avoid them.
Nationally, the April Saving and Investing Campaign
will be kicked off by a panel discussion at the national
Press Club in Washington about how financially well- or ill-
prepared Baby Boomers are for retirement. Statistics
indicate that while nearly three-quarters of Americans are
saving for retirement most have little idea of how much
money they will need to replace income when they retire.
"With Americans living longer than ever, retirement security
is a serious national issue," said Secretary White.
For more information about local activities, contact
the Illinois Secretary of State’s Securities Department at
(800) 628-7939.
