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UNDERSTANDING TARGET DATE FUNDS - From SEC: The Securities and Exchange Commission voted unanimously to propose rule amendments to help clarify the meaning of a date in a target date fund's name and enhance the information provided to investors in these funds as they invest for retirement. Target date funds are designed to make it easier for Americans to invest for retirement by providing the simplicity for which many investors yearn. They've been marketed as a "set it and forget it" approach to investing. The name of these funds usually includes a date that represents the year in which the investor intends to retire. The rule changes proposed by the SEC would enable investors to better assess the anticipated investment glide path and risk profile of a target date fund by, for ex...
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SIPC SEEKS INPUT - From SIPC: The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, launched a new Web site, http://www.SIPCModernization.org, and also announced the formation of a 13-member SIPC Modernization Task Force. The twin efforts are part of a full-scale review of the operations of SIPC, which has not been the focus of major new legislation in 30 years. The state-of-the-art SIPCModernization.org Web site will be used to gather input from the public through online comments, live interactive forums and national Webcast. Beginning with its initial gathering on June 17, 2010 in Washington, D.C., the SIPC Modernization Task Force will meet in person and via...
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OPTIONS BENEFITS AND RISKS - From OIC: Most strategies that options investors use have limited risk but also limited profit potential. For this reason, options strategies are not get-rich-quick schemes. Transactions generally require less capital than equivalent stock transactions, and therefore return smaller dollar figures - but a potentially greater percentage of the investment - than equivalent stock transactions. Even those investors who use options in speculative strategies, such as writing uncovered calls, don't usually realize dramatic returns. The potential profit is limited to the premium received for the contract, and the potential loss is often unlimited. While leverage means the percentage returns can be significant, here, too, the amount of cash changing hands is smaller than with equivalent stock transactions. ...
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FINANCIAL EDUCATION AT WORK - From AICPA: The American Institute of Certified Public Accountants and the Society for Human Resource Management are creating the first national award that recognizes employers for financial education programs for staff. The AICPA and SHRM will begin accepting applications for the award later in 2010. All employers-corporate, not-for-profit, government and academic-will be eligible for a Workplace Financial Education Award. Research shows that a substantial percentage of financially distressed employees spend time at their jobs worrying about personal finance issues instead of working.  The National Federation of Independent Business found in a 2008 survey that just over 10 percent of small- and medium-size bu...
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DECIPHERING THE MARKET - From AAII: To be a successful investor, you can't just buy a good stock. You have to buy the very best stocks at the very best time. And it's not enough for you to simply study the stock itself, you also need to analyze the market conditions in which it is trading. Five decades of historical studies on past market cycles show that three out of four stocks decline when the general market averages correct. That's why market direction is one of the several critical factors in making money in stocks. How do you tell which way the market is headed? You really don't need a crystal ball. The key is learning to decipher the day-to-day market action - in other words, what the market's doing right now. Successful investing isn't about following pundits' pred...
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INVESTING AND THE RECESSION - With investors facing new realities, questions and challenges in today's recession, the nonprofit Investor Protection Trust (IPT) has overhauled many of its core investor education materials to reflect the impact of the recession. The Trust partnered with the editors of Kiplinger's Personal Finance magazine to update seven investor education booklets as part of IPT's investor education and protection programs in communities nationwide. The investor education booklets tackle the basics of several key investor topics such as stocks, bonds and mutual funds.  Now updated to reflect recession-related considerations, the booklets are designed for the beginning and intermediate investor, as well as the long-term investor who never learned the basics. Each booklet includes a glossary of terms used in the booklet and information on the role of State Securities Re...
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THE FINANCIAL REFORM BILL AND YOU - The financial reform bill recently signed into law is an attempt to address some of the problems that contributed to the 2008 financial crisis. The legislation, officially known as the Dodd-Frank Wall Street Reform and Consumer Protection Act, is considered the most wide-ranging overhaul of the U.S. financial system since the aftermath of the Great Depression. Because the problems it addresses are complex, the legislation itself is complex; much of the real impact will be felt only after regulations are developed to implement the law's provisions. Also, some provisions will have a direct impact on individuals and investors; others will primarily affect the ways in which Wall Street functions. AICPA's 360 Degrees of Financial Literacy offers a brief summary if you want to learn about how you may be affected ...
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SIPC HOSTS ONLINE PUBLIC FORUM - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, will hold its first-ever online forum at 8 p.m. EDT/5 p.m. PDT on September 14, 2010 at http://www.SIPCModernization.org. The "listening post" session is the first of two major national public forums focused on soliciting input about the modernization of SIPC. The effort is part of the SIPC Modernization initiative launched on June 17, 2010. The two planned online forums are part of a full-scale review of the operations of SIPC, which has not been the focus of major new legislation in 30 years ...
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KEEPING YOUR RETIREMENT SAVINGS INTACT - A recent report by a major retirement plan provider revealed an uptick in the number of investors dipping into their 401(k)s through either loans or hardship withdrawals. If you really need the money and cannot access credit elsewhere, then borrowing from your 401(k), or taking a withdrawal, might be your best option. FINRA points out several good reasons to keep your retirement savings intact if at all possible. Before tapping your retirement savings, consider these reasons, among others: the money you withdraw will not grow if it isn't invested; repayments are made with after-tax dollars that will be taxed again when you eventually withdraw them from your account; the interest is never deductible even if you use the money to buy or renovate your home ...
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BEWARE FAKE SIPC CHECKS - The Securities Investor Protection Corporation (SIPC), which maintains a special reserve fund mandated by Congress to protect the customers of insolvent brokerage firms, again warned that consumers and job seekers should not accept SIPC checks that are presented online or in person by con artists seeking to buy personal goods or engage individuals for work. SIPC officials said the fake checks include an actual SIPC account number that is used only for deposits. No checks of any kind are issued on the account in question. In over a dozen cases so far, one or more individuals have presented the phony SIPC checks to "pay" for an item on Craigslist or in face-to-face transactions, or to "pay" for services advertised on Craigslist ...
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