This article is from the Summer 2007 edition of the Extension Connection newsletter.
From claims of higher-than-market interest to guaranteed profit, Iowans have heard the stories about fraudulent investment schemes. One third of Iowans say they are not very knowledgeable about investing, but Iowans in general deem it very important to increase their investment knowledge.
That’s why Iowa State University Extension is working with Iowa Public Radio and the Iowa Securities Division to publicize trustworthy, unbiased information on making wise investment decisions.
The Invest Wisely media campaign is funded by a grant from the Investor Protection Trust, www.investorprotection.org, a nonprofit organization devoted to investor education. The Invest Wisely campaign includes radio vignettes, public service announcements and newspaper columns to educate Iowans about investing. See www.extension.iastate.edu/investwisely/.
“Individuals spend more time planning a summer vacation than they do setting investment goals,” said Pat Swanson, certified financial planner (CFP®) and ISU Extension specialist.
A market analysis commissioned by the Iowa Securities Division in 2005 concluded the Iowans most in need of investment education, in priority order, are women age 65+, women ages 50-64 and men age 65+.
Swanson said, “We are responding to consumers who want to learn about investing.”
Many individuals equate saving with investing. However, these are separate, but equally important, financial tasks, according to Swanson. Savings provide funds for emergencies and short-term goals. “The focus of investing is increasing your net worth and achieving long-term financial goals. Investing offers the opportunity for a greater return, but there is more risk,” Swanson said.
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