Frequently Asked Questions About Investing for SuccessWhat is Investing for Success?
Investing for Success is an investor education program sponsored by the National Urban League (NUL) and the Investment Company Institute Education Foundation (ICIEF). The Investing for Success program features an award-winning, interactive, multimedia web course, supplemented by occasional workshops presented at national conferences and NUL affiliates. What does a person learn about in this program?
The two-hour interactive web course and workshops are designed to benefit anyone who wants to learn-or review-the basic principles of investing. The web course features 10 self-paced sections: Introduction, Getting Started, Setting Goals, Understanding Risk, Asking Questions, Developing Realistic Expectations, Taking the Long-Term View, Saving for College, Planning for Retirement, and an Action Plan. Sections include educational text, animated illustrations, interactive worksheets and calculators, "pop-up" definitions, related online resources, video clips of investors and investment professionals, and quizzes that offer immediate feedback to reinforce investing concepts. Audio is used throughout to give instructions and provide navigational cues. Anyone who completes all 10 lessons can print a personalized certificate of course completion. Each participant at the program's investor education workshops will use a series of worksheets to help them assess their risk tolerance and retirement needs and develop an action plan. They will also receive a series of investor awareness brochures, a video discussing successful investing, and information on additional resources. What is the purpose of Investing for Success?
The purpose of Investing for Success is to promote informed investing. Investing for Success seeks to strengthen understanding among African Americans of opportunities to invest and build wealth, demystify the world of investments and the jargon that too often obscures it, contribute to realistic expectations about the risks and rewards of investing, and encourage long-term financial planning that can support African Americans' efforts to save for their children's education and secure their own retirements. Who is the intended Investing for Success audience?
Investing for Success is targeted to middle-income African Americans. The program was launched in May 2000 in response to research showing that, when it comes to investing, African Americans lag behind other groups with similar incomes. The reason most often cited is lack of knowledge. NUL, ICIEF, and the mutual fund industry have joined forces to help address this "knowledge gap." What is the mutual fund industry's role in Investing for Success?
Recognizing the importance of informed investors, the Investment Company Institute, the national association of the mutual fund industry, created the ICI Education Foundation in 1989. As the educational affiliate of ICI, the Foundation partners with government agencies and other nonprofit organizations to promote and enhance investor awareness initiatives. The web course, for example, integrates materials from the U.S. Securities and Exchange Commission, Department of Labor, and Social Security Administration. ICI member companies co-sponsor Investing for Success workshops and provide personal finance experts. Neither the workshop and materials nor the web course promotes any commercial products or services or specific professions, firms, or individuals. Does ICIEF sponsor other programs for African Americans?
ICIEF also partners with the Society for Financial Education and Professional Development (SFEPD) to distribute Investing for Success brochures and worksheets to students at Historically Black Colleges and Universities (HBCUs). SFEPD plans to present its Personal Money Management Seminars at 50 HBCUs in the 2003 - 2004 school year. SFEPD is a 501(c)(3) organization committed to advancing the level of financial and economic literacy of students at Historically Black Colleges and Universities. Where can I get more information about Investing for Success?
For more information on the Investing for Success program, visit the Investment Company Institute's website. For additional information about the program, please contact Denise Murray at dmurray@ici.org or 202/371-5420. February 2004
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