February 25, 2019 (LINCOLN, NEB.) —The Nebraska Department of Banking and Finance (NDBF) is participating in America Saves Week and Military Saves Week, February 25-March 2, to help raise awareness among investors, especially those entering the workforce or those early in their careers, of the importance of safeguarding their financial futures.
"Building a safe and secure financial future it is critical for all generations and we must ensure this important message is making its way to Millennials," said Deputy Director Claire McHenry.
The nation’s 75 million Millennials, those born between 1981 and 1996, have surpassed Baby Boomers as the largest demographic in the United States. With nearly a quarter of the entire U.S. population, Millennials also make up nearly two-fifths of all working age Americans – those saving and investing to build retirement nest eggs.
"Millennials either are just coming of age or are starting to get serious about building wealth for their financial futures. At the same time, many are straddled with student loan debt, are ill-equipped with the financial literacy tools necessary to build their future and may become susceptible to go-to promise of con artists: high returns for low risk," Deputy Director McHenry said.
To help promote investor awareness and protection, the NDBF is providing three quick tips.
1. Watch for the Red Flags of Fraud. "If it sounds too good to be true, it usually is," Deputy Director McHenry said.
2. Understand Who You Are Doing Business With. "Many of us spend more time reading restaurant’s reviews than researching the background of our stockbroker or investment adviser," she said.
3. Know where to turn for help. "Your state securities regulator is just a click or call away," Deputy Director McHenry said.
NDBF can provide detailed information about an investment product, broker or adviser. This information is free and easy to obtain. For more information, please contact NDBF at (402) 471-3445 or online at www.ndbf.nebraska.gov.
NDBF is a proud partner in America Saves Week and Military Saves Week, national public awareness campaigns led by the Consumer Federation of America to motivate people to save for their financial future. To learn more, visit www.americasaves.org.
More information about the laws governing the securities industry in Nebraska can be found on NDBF’s website at www.ndbf.nebraska.gov. If you have questions about any investment matter, call NDBF’s Consumer Hotline toll free at (877) 471-3445 in Nebraska, or (402) 471-3445 if you are out of state.
Consumer Advisory - Military Saves Week.pdf
Informed Investor Advisory Military Saves.pdf