Facts on Saving and Investing Campaign Kick-Off Week: March 29 to April 4, 1998

The week of March 29 to April 4, 1998, will kick off a national public awareness campaign to motivate Americans to get the facts about saving and investing. During the week federal agencies, securities regulators, consumer groups, the financial industry, and the media will join together to conduct educational events in our communities and schools and to announce future initiatives.

Campaign Events and Daily Themes for the Week

Monday: Americans Need Financial Education

On Monday, March 30, the SEC will host a National Roundtable on Saving and Investing that will assemble many of the leading voices from government, industry, consumer groups, and the media to focus the nation's attention on the need for financial education. Participants in the roundtable will discuss where we are as a country when it comes to saving and investing, recent polling results on what Americans know and don't know, and educational programs and strategies that work.
More Americans than ever are investing in our securities markets directly through the purchase and sale of stocks and bonds, and indirectly through mutual funds. In June 1997, mutual fund assets surpassed $4 trillion, and continue to rise.
With the shift from traditional, defined benefit pensions to 401(k) and other defined contribution retirement plans, Americans are increasingly responsible for making their own i
Investors need to learn what questions to ask before investing, how to evaluate financial products and professionals, and how to protect themselves in the marketplace.

Tuesday: Get a "Ballpark Estimate" of Your Retirement Needs

Individuals will be encouraged to fill out the one-page "Ballpark Estimate" that helps people compute what they need to save and invest each year to meet their retirement needs. Employers will be encouraged to distribute copies to their employees. A joint government publication of the "Ballpark Estimate" will list government sources that provide information on saving and investing.
Numerous surveys show that Americans seriously underestimate the amount of money they must save for retirement, and fail to save even the minimum amount required.
A recent survey conducted for the Employee Benefit Research Institute found that "roughly three-quarters of all current workers have no idea regarding how much they need to save and accumulate for retirement."

Wednesday: Set Realistic Expectations

Events on this day will spotlight programs that help people set financial goals. One program, the USDA's Money 2000, challenges people to save or reduce their debt by $2000 by the year 2000.
The day will focus on the need to develop realistic expectations about market returns, understand the risks and rewards of investing, and the need for diversification.
Educated savers and investors are able to set financial goals and to understand how different products help them achieve their goals.

Thursday: Teach Our Children

Parents and teachers will be encouraged to teach children and young adults about personal finance. During this week the Stock Market Game will produce a special curriculum focusing on investing for the long-term.
Financial industry professionals and regulators will be encouraged to talk to high school classes about careers in the financial services industry.
A nationwide survey by the Jumpstart Coalition for Personal Financial literacy found that most high school students graduate with few of the financial skills they need to support themselves.
Students should understand the importance of short- and long-term saving and investment strategies.

Friday: You Can Do It: Start Small, Think Big. Know Your Rights and Responsibilities.

This day will focus on overcoming some of the barriers to saving and investing. We will focus on doable daily strategies, such as how you can gain financial security on $5 a day over time and through payroll deduction plans.
One of the best ways to protect investors is to give them the tools they need to protect themselves. Investors need to know how the industry is regulated to gain confidence in our markets and the securities industry. Investors also need to recognize securities fraud and report it promptly to regulators.

Saturday: National Investors' Town Meeting

The two-hour broadcast will originate from Washington, D.C., and be available nationwide by satellite. It will touch on all the themes of the week.
The broadcast will feature SEC Chairman Arthur Levitt and Denny Crawford, President of the North America Securities Administrators Association, as well as industry experts.
USA Today will be the SEC's national media sponsor. Local papers will also sponsor downlink sites across the country.
Many SEC Regional and District offices, as well as state securities administrators, will host downlink sites. Local sites will be free to use the national broadcast in part or in its entirety. Please check the SEC's planning web site to obtain a list of locations. Local sponsors are needed and welcome.