Financial Literacy
This is not intended as legal, financial, or tax advice. The materials were prepared by the staff of the Sara Hightower Regional Library System using resources provided by Smart Investing @ Your Library®, a partnership between ALA and the FINRA Foundation. Materials were selected with the assistance of the Santa Clara County Library District and InfoPeople for their leading role in collecting these resources. The University of West Georgia’s Center for Economic Education and Financial Literacy also provided resources for this page. Although this information was prepared with care, it is not designed to be a complete or definitive analysis of this area. Moreover, this information was prepared with the understanding that it reflects the creators' perception of the materials.
A financial plan is a document that details a person’s current financial circumstances and their short- and long-term monetary goals. It includes strategies to achieve those goals.
Learn to Invest
Sound investing begins with getting comfortable with some basic concepts such as asset allocation and risk. Understanding any investment product you're considering—or already own—is also crucial. We’ll help you understand what questions to ask and how to get a handle on fees and expenses, which affect investment return. In addition, we’ll offer tips on how to choose and successfully work with an investment professional.
It's important to know what you want to accomplish with your investments before you actually invest. Learn how to set your financial goals, get a handle on your cash flow, control spending, manage debt and get on the path to saving and investing.
Investment Goals
Setting goals help us meet life’s major objectives, from staying healthy to retiring with a well-feathered nest egg. Investment goals provide structure and purpose to the money we allocate to investment products, such as stocks, bonds and funds. Investing and investment goal setting go hand in hand with sound personal finance practices, such as building an emergency fund and managing spending. Learn more in this Smart Investing Course.
As you prepare to invest, you'll need to assess your net worth. It's not hard: add up what you own and subtract what you owe. Creating a net worth statement, and updating it each year, will help you monitor your financial progress and meet financial goals. It will also enable you to calculate how much you have (or don't have) to invest.
MyMoney.gov
This personal finance portal from the federal Financial Literacy and Education Commission includes tutorials from various federal government agencies on six key topics: earn, spend, borrow, protect, save, and invest.
Khan Academy's Personal Finance Course
This free life skills course covers several personal finance topics for individuals and families. Topics include saving and budgeting, interest and debt, paying for college, income and benefits, housing, and taxes.
The FDIC Money Smart financial education program can help people of all ages enhance their financial skills and create positive banking relationships. First released in 2001 and regularly updated since then, Money Smart has a long track record of success.
America Saves, a campaign managed by the nonprofit Consumer Federation of America, motivates, encourages, and supports low- to moderate-income households to save money, reduce debt, and build wealth. The research-based campaign uses the principles of behavioral economics and social marketing to change behavior. Non‐profit, government, and corporate groups participate in America Saves nationally and through local, regional, and statewide campaigns around the country. America Saves encourages individuals to take the America Saves pledge.
This comprehensive tool is designed to assist investors with market and investment research, both through the market data information provided as well as through the FINRA Investor Education material and tools.
Part of the Federal Government, the Consumer Financial Protection Bureau (CFPB) maintains educational tools to help guide important financial decisions. It also provides plain-language answers to common questions about money management.
Contains many articles on personal finance, budgeting, saving, and credit.
EBSCOhost’s Regional Business News
Contains many articles on personal finance, budgeting, saving, and credit.
Understand common legal procedures through customizable legal documents that you can easily modify to create accurate, reliable forms without stress.
This resource explains the services and products that banks and credit unions provide. It includes information about savings accounts, money market accounts, certificates of deposit (CDs), and federal insurance.
The FDIC is a federal agency that protects depositors against the loss of deposits if an FDIC-insured bank or savings association fails. The sections titled Deposit Insurance and Consumer Resource Center on the agency’s website teach the basics of FDIC insurance coverage, how to structure accounts to maximize that coverage, and fees and features to consider for various bank products.
BankFind allows you to access detailed information about all FDIC-insured institutions, including branch locations, the bank's official website, the current operating status of your bank, and the regulator to contact for additional information and assistance. You can also submit a request using the FDIC Information and Support Center or call 1-877-275-3342.
The FTC’s Consumer.gov website helps consumers with three main categories of financial decisions: Managing your money, Credit, Loans, and Debts, and Scams and Identity Theft.
This online resource is sponsored by the Office of Investor Education and Advocacy of the U.S. Securities and Exchange Commission (SEC). It includes several handy calculators such as the Compound Interest Calculator.
MyCreditUnion.gove is the National Credit Union Administration’s (NCUA) consumer education portal. NCUA is the federal agency that regulates, charters, and supervises federal credit unions. It operates and manages the National Credit Union Share Insurance Fund (NCUSIF), which insures the deposits of account holders in all federal credit unions and the majority of state-chartered credit unions.
EDIE lets consumers and bankers know, on a per-bank basis, how the insurance rules and limits apply to a depositor's specific group of deposit accounts—what's insured and what portion (if any) exceeds coverage limits at that bank. EDIE also allows the user to print the report for their records.
An NCUA tool that allows you to find credit unions near you by name, charter number, or location.
In this article, learn about how credit works, the types of credit, and why you need credit.
Explore this resource to learn how your credit history is compiled, how to check a credit report and score, and other questions related to your credit.
This is an overview of the importance of good credit. Topics include:
- How your credit score affects you
- Determining your credit score
- What helps and hurts a credit score
- Good credit puts money in our pocket
Consumer.gov’s Credit, Loans, and Debts guide covers the basics of borrowing, credit, and debt management. The easy-to-understand primers on Your Credit History and Using Credit help answer questions about establishing good credit, what credit history is, and how to obtain credit reports.
CFPB’s main goal is to protect American consumers who are looking for financial products and services. Important services that CFPB provides include:
- Ask CFPB-You can type your question into the search bar of this FAQ database. The database includes explanation about credit, loans, and debt collection.
- Submit a Complaint-Use this tool to file a complaint about financial products and services.
This website from the American Institute of CPAs provides an overview of credit and debt, as well as tools such as:
The website is also helpful in answering questions such as:
- How can I correct errors on my credit report?
- How can I get credit if I have no credit history?
- How can I repair my poor credit?
- I am marrying someone with bad credit. How will this affect me?
GovLoans.gov is an online resource to help you find government loans you may be eligible for. It is not an application for benefits and will not send you free money.
This guide from the North Carolina Department of Justice explains the key differences between buying and leasing a car.
Deciding whether to rent or buy depends on your financial situation, future plans and lifestyle. Both options have benefits that you need to carefully consider before making your decision.
If you are a renter hoping to make the leap into homeownership, make sure you are fully prepared for the financial commitments that come with owning a home.
This tool helps you determine whether buying a home is a better deal than renting. The decision depends on many factors, including the time you expect to stay in your new home, rent and home appreciation rates, the rate you earn on savings, taxes, and maintenance costs.
This tool estimates your average yearly tax savings on a mortgage loan and calculates your after-tax interest rate on the loan.
If you are financially ready to purchase a home and take on the responsibilities of homeownership, you’ll need to understand the different mortgage products available to you. Take the time to learn all about the components of a mortgage and about the most common types of mortgages.
This article from the Consumer Financial Protection Bureau explains the difference between fixed-rate and adjustable-rate mortgages.
Consumer Financial Protection Bureau: Mortgages
The CFPB’s mortgage initiative is designed to help consumers understand their loan options, shop for the mortgage that’s best for them, and avoid costly surprises at the closing table.
Guide to Home Loans Workbook
The Department of Financial Institutions (DFI) guide to home loans. Whether you’re buying your first home, considering a second mortgage, refinancing, or considering a reverse mortgage the loan process can be confusing and complicated. As you embark on one of the biggest financial decisions you’ll make in your lifetime, use this guide to understand and to help navigate this process.
Federal Trade Commission’s Consumer Advice Portal
The official website of the Federal Trade Commission, protecting America's consumers for over 100 years. This site includes a loans and mortgages section with information about financing and refinancing a home, reverse mortgage, home equity lines of credit (HELOC), and foreclosures.Reverse Mortgage Counseling Services Network
If you or an older adult you know is considering a reverse mortgage, you must receive counseling from a government-approved agency. Learn what reverse mortgage counseling is and what it costs.
Housing and Home Equity for Older Adults
Many older adults are “house rich but cash poor.” The National Council on Aging offers guides and information to learn about how to use your home equity wisely through reverse mortgages, community living, and other options to tap your home equity.
The U.S. Department of Housing and Urban Development: Buying a Home
This resource from the U.S. Department of Housing and Urban Development breaks down the process of buying a home into nine basic steps.
Fannie Mae: Calculators and Tools
A resource for first-time homebuyers, renters, and homeowners who want to sell, refinance, or modify their mortgage terms to avoid foreclosure.
StudentAid
A website of the U.S. Department of Education, this website is a resource for college and career school students. Topics to explore include:
- Preparing for College
- Types of Aid
- Who Gets Aid
- FAFSA: Apply for Aid
- Repay Your Loans
- Kinds of available scholarships
- Finding scholarships
- Applying for scholarships
College Scorecard
Search and compare colleges, their fields of study, costs, admissions, results, and more.
Net Price Calculator Center
Net price calculators are available on a college’s or university’s website and allow prospective students to enter information about themselves to find out what students like them paid to attend the institution in the previous year, after taking grants and scholarship aid into account.
IRS Publication 970: Tax Benefits for Education
This document explains tax provisions for persons saving for or paying education costs for themselves or family members.
Qualified Education Expenses
Details what expenses count as an education credit or a tuition and fees deduction.
Veterans Affairs: Education and Training
The U.S. Department of Veterans Affairs’ website describes all the educational benefits available to veterans as well as eligible dependents.
The U.S. Department of Labor’s Scholarship Finder
This free site allows you to search nearly 9,000 scholarships, fellowships, grants, and other financial aid award opportunities.
FINRA’s Smart Saving for College - Better Buy Degrees
This comprehensive guide addresses questions about college costs, how to estimate the amount of money to invest each year to cover a college education, and the many different tax-advantaged ways to save for college. It provides information and tools on how to save and invest for college and make it affordable.
Free Application for Federal Student Aid (FAFSA)
You can use the Free Application for Student Aid (FAFSA) form to apply for financial aid for college or graduate school.
Financial Aid Toolkit
The Federal Student Aid Office of the U.S. Department of Education provides federal student aid information and outreach tools for counselors, college access professionals, nonprofit mentors, and other advisors.
Federal Trade Commission: Choosing a Vocational School or Certificate Program
Provides information on financing a vocational training program, as well as hot to vet programs and avoid scams.
My Next Move
The U.S. Department of Labor’s career search tool, which provides information about different careers.
Types of College Grants and Loans
Financing a college education is a significant investment, and there are a number of options that may help you reduce your financial burden after college.
Federal Student Aid Estimator
The Federal Student Aid Office of the U.S. Department of Education provides an estimate of what federal student aid you may be eligible to receive.
Compulsory Auto Insurance
Explains compulsory auto insurance and includes financial responsibility limits by state.
Discover tools and resources to help you understand different types of insurances, claims processes, and practical tips that can better support you at every stage of your life. Find guides on understanding different types of insurance policies, including:
The official website for the federal health insurance marketplace. Other resources provided by Healthcare.gov include:
A comprehensive, unbiased resource about long-term care. This portal was developed by the U.S. Department of Health and Human Services.
MedlinePlus: Health Insurance
Find information on topics such as choosing health plans, understanding health insurance plans, and understanding health care costs.
The official U.S. Government site for Medicare. This federal health insurance program is for people 65 years or older, certain young people with disabilities, and those with end-stage renal disease.
Medicaid.gov
Medicaid is a government health insurance program for individuals and families in the United States with low income and resources.
Georgia’s comprehensive health care program for uninsured children.
Provides information about Medicaid and the Children’s Health Insurance Program for families seeking health insurance coverage for children and teens and families needing help locating a dentist.
Life Insurance Frequently Asked Questions
Georgia’s Office of Commissioner of Insurance and Safety Fire provides this helpful question and answer section about life insurance.
Financial Industry Regulatory Authority’s Investor Site
This page is a primer on investing that covers the following topics, among others:
401(k) Investing Guide
The Financial Industry Regulatory Authority’s resource for introducing the concept on an investment fund and learning about types of funds.
Mutual Funds
Learn more about mutual funds, including types, fees and expenses, and risks.
Fund Analyzer
The Financial industry Regulatory Authority’s tool to analyze and compare the cost of owning funds.
Investor.gov
The U.S. Securities and Exchange Commission’s Investor.gov provides basic information about types of investment products and how markets work.
SEC’s Fast Answers
The U.S. Securities and Exchange Commission’s Fast Answers tool provides quick access to a database of answers to common investor questions.
Investor.gov Glossary
A glossary of terms used in investing, provided by the U.S. Securities and Exchange commission.
FINRA’a Market Data Center
This comprehensive tool is designed to assist investors with market and investment research, both through the market data information provided as well as through the FINRA Investor Education material and tools.
FINRA’s Watchlist
Use this free tool to create a a list of stocks that interest you and monitor for conditions and news.
Stock Up on Information Before Buying Stock
A tutorial on how to research individual stocks.
EDGAR
The SEC’s Electronic Data Gathering, Analysis, and Retrieval database provides free, public access to corporate information that companies must disclose and file with the SEC. The system allows users to research a company’s activities, registration statements, executive compensation, insider transactions, prospectuses and periodic reports, which include financial statements.
Beginners’ Guide to Financial Statement
An SEC resource that is useful for questions such as how to balance a balance sheet. It explains three main financial statements that a potential investor should review:
- Balance sheets
- Income statements
- Cash flow statements
Pre-IPO Offerings: These Scammers are Not Your Friends
Be aware that some “pre-IPO” deals are highly speculative and may even be fraudulent.
Investor.Gov: Security Analyst Recommendations
The U.S. Securities and Exchange Commission provides this guide to assessing the qualifications of security analysts.
BRASS Business Guide, Company and Industry Research
BRASS is the Business Reference and Services Section of the American Library Association’s Reference & User Services Association. The BRASS Company and Industry Research guide provides convenient access to resources on specific businesses and industries.
U.S. Census Bureau’s Business and Economy Portal
The U.S. Census Bureau’s Business and Economy portal provides comprehensive information about the characteristics of American businesses
TreasuryDirect
TreasuryDirect is the only financial services website where individuals can buy and redeem Treasury securities directly from the U.S. Department of the Treasury in paperless electronic form. It is sponsored by the Department’s Bureau of the Fiscal Service.
Social Security Administration’s Retirement Benefits Website
Estimate your benefit amount, determine when to apply, and explore other factors that may affect your retirement planning.
MyMoney.gov: Planning for Retirement
This government website provides a variety of resources related to planning for retirement
U.S. Securities and Exchange Commission: Employment to Retirement
For most Americans, a retirement savings plan, which you build over time during your working years, is an essential part of securing your retirement. Learn what you can do, while employed and once retired, to make the most of your investments.
Time is on Your Side
This brochure from the U.S. Department of Labor outlines practical and realistic tips on how to prepare as soon as possible for retirement.
Taking the Mystery Out of Retirement Planning
A publication of the U.S. Department of Labor for individuals who are about 10 years from retirement.
Retirement Toolkit
This retirement toolkit is brought to you by the three federal agencies involved in key elements of your retirement planning and security: the Department of Labor, the Social Security Administration, and the Centers for Medicare & Medicaid Services.
Retirement Toolkit
This retirement toolkit is brought to you by the three federal agencies involved in key elements of your retirement planning and security: the Department of Labor, the Social Security Administration, and the Centers for Medicare & Medicaid Services.
Retirement Plans for Self-Employed People
The Internal Revenue Service’s guide to retirement plans for self-employed individuals.
Choosing a Retirement Solution for Your Small Business
This publication is a joint project of the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) and the Internal Revenue Service.
Retirement Plans
This guide from the Internal Revenue Service is a helpful resource for managing an IRA. The guide provides extensive coverage of many frequently asked questions on a variety of retirement plan topics, such as types of plans, rollovers, loans, contributions, and investments.
Saving Matters
The U.S. Department of Labor’s Saving Matters is a resource for employees at different stages in their careers. It can help those who have delayed saving for retirement.
Managing Retirement Income
This resource from the Financial Industry Regulatory Authority covers managing different sources of retirement income. It also addresses managing investment portfolios, selecting payout methods, taxation of retirement income, working in retirement, long-term planning, and planning for health care costs.
Early Retirement Seminars 101: Smart Tips for Spotting Retirement Scams
No one can reliably predict the future performance of an investment. Use this helpful guide to spot red flags in retirement advice.
Social Security in Retirement
The Social Security Administration’s website provides information about retirement benefits, disability benefits, and survivor benefits. It also explains how Social Security credits are earned.
When to Start Receiving Retirement Benefits
This guide from the Social Security Administration provides a clear, concise overview of the factors to consider when deciding when to start receiving your retirement benefits.
What is the Best Age to Start Your Benefits?
This interactive guide from the Social Security Administration walks users through a series of questions to determine the best decision for their particular situations.
Apply for Retirement Benefits
This page walks users through Social Security benefits basics and the application process.
What Documents Do You Need to Apply for Retirement Benefits?
The Social Security Administration’s guide to required documents for applying for retirement benefits.
Medicare Benefits
An overview of Medicare Benefits and eligibility from the Social Security Administration
Apply Online for Medicare - Even if You are Not Ready to Retire
This document from the Social Security Administration explains how people eligible for Medicare can apply for benefits but delay retirement or spousal benefits. Enrollment for Medicare can begin as early as three months before turning 65. This applies even for those still covered by other health insurance.
Medicare.gov: Costs
A guide to the differences between Medicare Part A, B, C, and D.
Suspending Retirement Benefit Payments
If you have reached full retirement age, but are not yet age 70, you can ask to suspend your retirement benefit payments. By doing this, you will earn delayed retirement credits for each month your benefits are suspended which will result in a higher benefit payment to you.
Delayed Retirement Credits
Social Security retirement benefits are increased by a certain percentage for each month you delay starting your benefits beyond full retirement age. This chart from the Social Security Administration provides a guide to those increases. The benefit increase stops when you reach age 70.
Social Security for LGBTQ+ People
The Social Security Administration encourages same-sex couples to apply for benefits as soon as possible even if they are not sure of their eligibility. This is a useful resource for questions regarding eligibility.
Publication 915: Social Security and Equivalent Railroad Benefits
This publication explains how the IRS determines whether any benefits may be taxable, how much is taxable, and how to report benefits.
Are My Social Security or Railroad Retirement Tier 1 Benefits Taxable?
This “interactive tax assistant” walks users through a series of questions to help determine whether their benefits are taxable.
Seniors & Retirees
This IRS guide covers tax concerns regarding a variety of retirement income sources, including Social Security.
Retirement Savings Toolkit
The Retirement Savings Toolkit from the Employee Benefits Security Administration of the U.S. Department of Labor provides retirement planning resources in English and Spanish.
Money as You Grow: Help for Parents and Caregivers
A resource to teach children about personal finance, created by the Consumer Financial Protection Bureau. This site includes a series of activities and conversation starters organized by developmental stages from young child to young adult.
Money as You Grow Bookshelf
It's important to you to get the most out of reading time with your child. Money as You Grow Bookshelf lets you build on the time you may already spend reading together, and helps you bring money topics to life through storytime.
Talking About Money Choices, Big and Small
This site from the Consumer Financial Protection Bureau includes tips for caregivers and parents on how to help children develop personal finance skills and knowledge.
Career Exploration
This is a Bureau of Labor Statistics resource that teens can use to research different career options based on their interests.
Should You Pay Your Kids an Allowance?
This guide created by the American Institute of Certified Public Accountants discusses how much to give and what money lessons to teach when starting an allowance. There is also useful information about teaching financial knowledge if you don’t have money to pay an allowance.
Credit History for Teens
An article from the Consumer Financial Protection Bureau about introducing teenage and young adult children to credit history.
Credit Reports and Scores for Teens
An article from the Consumer Financial Protection Bureau about introducing teenage and young adult children to credit reports.
Working and Taxes for Teens
An article from the Consumer Financial Protection Bureau about introducing teenage and young adult children to taxes.
Personal Finance 101 Conversations
Created by the Federal Reserve Bank of St. Lous, Personal Finance 101 Conversations is a series of short videos related to timely financial topics for students and consumers in their teens and twenties.
Social Security Numbers for Children
This guide explains how to apply for a number and the documentation accepted as proof of a child’s identity.
Jump$tart: Financial Smarts for Students
An online library of financial education materials for teachers, parents, and caregivers.
Thinking Money for Kids
These interactive games from ALA and FINRA’s Foundation teach children ages 7 to 11 about earning, saving, and spending money.
Con ‘Em If You Can
In collaboration with Commonwealth, the FINRA Foundation developed this game to help students recognize the red flags of fraud and defend against them.
Money Math for Teens
This series of lessons explores the mathematics behind personal finance concepts. It is suitable for middle and high school students.
MyCreditUnion.gov’s Lesson Plan Resources
MyCreditUnion.gov’s Lesson Plan Resources aggregates several resources for parents and educators to teach children about personal finance.
Money Smart for Young People
This FDIC series includes free lesson plans that educators, parents, and caregivers can use with young people of various age levels, from pre-k through high school.
TreasuryDirect KIDS
A children’s portal sponsored by the U.S. Department of the Treasury. It explains the role of the Bureau of Fiscal Service in financing and operating the federal government. There are several videos and games to teach children about saving, investing, debts, and bonds.
Mortgage Help Portal
Maintained by the Consumer Financial Protection Bureau, this site contains information about:
- Finding a housing counselor
- Finding Housing Finance Agencies by state
National Flood Insurance
No home is completely safe from potential flooding. When just one inch of water in a home can cost more than $25,000 in damage, flood insurance can be the difference between recovery and financial devastation.
FEMA Preparedness Portal
Disaster preparedness, response, and recovery is a whole community effort. Login to access curated content, get involved with our preparedness programs, and connect with your community.
Ready.gov
Launched in February 2003, Ready is a National public service campaign designed to educate and empower the American people to prepare for, respond to and mitigate emergencies, including natural and man-made disasters. The goal of the campaign is to promote preparedness through public involvement.
If you are experiencing financial difficulties related to student loans, this Federal Student Aid resource may be helpful. Use it to find information including:
Benefits for Your Divorced Spouse
This page from the Social Security Administration explains what benefits you may receive as a divorced spouse.
How to Get Out of Debt
This page from the Federal Trade Commission provides consumer information about getting out of debt and finding legitimate help
U.S. Trustee Program
The U.S. Trustee Program is the organization within the U.S. Department of Justice that supervises bankruptcy cases and trustees. It approves organizations to provide required credit counseling and debtor education and maintains a state-by-state list of approved providers.
Making Home Affordable® Program
This program helps struggling homeowners avoid foreclosure by providing a variety of options to modify or refinance their mortgages, get temporary forbearance if they are unemployed, or transition out of homeownership via a short sale of deed-in-lieu foreclosure.
Department of Housing and Urban Development: Rental Assistance
This portal provides access to HUD rental assistance programs and lists of housing units that are available at reduced rents to people who qualify.
Georgia Gateway: Your Portal to Social Services Benefits
Use this portal to apply or check on your status for WIC, SNAP, TANF, PeachCare, and other social services in the state of Georgia.
FINRA: Managing the Financial Impact of Job Loss and Furloughs
This Investor Alert explains how to cope with the financial impact of unexpected job dislocation. It reviews steps to understand your company benefits, health insurance options, choices for dealing with long-term unemployment and ways to protect your finances.
U.S. Department of Labor: Job Seekers and Unemployed Workers
The Department of Labor’s Job Seeker’s/Unemployment Portal aggregates links to information and services the Department offers people looking for jobs.
Benefits.gov
Benefits.gov is an excellent starting point for easy, online access to information about state and federal government benefit and assistance programs.
How to Avoid Fraud
This guide provides tips and tutorials on how to spot a scam and protect one’s assets. It also includes links to news and alerts about suspicious investment offers.
FINRA’s Investor Alerts
The Financial Industry Regulatory Authority maintains alerts related to fraud organized topically.
The FTC’s Identity Theft Guide
The Federal Trade Commission's guide is an excellent resource to those who have been victimized or who want to protect their personal information.
How to Tell if Someone is Using Your Identity
This resource shares some of the ways thieves might use your stolen information and signs you can look out for.
IdentityTheft.gov
This FTC website can help you report and recover from identity theft.
Identity Theft and Online Security
This FTC page discusses how to protect your personal information and privacy, stay safe online, and help your kids do the same.
Elder Rights Resources
This site from the National Center on Elder Abuse provides helpful information if you believe you or a loved one might be the victim of financial or material exploitation.
Fighting Fraud 101: Smart Tips for Investors
FINRA’s guide to identify investment scams.
Report Suspicious Activities
The Internet Crime Complaint Center, or IC3, is the Nation’s central hub for reporting cyber crime.
Working with an Investment Professional
The Financial Industry Regulatory Authority (FINRA)provides this plain-language resource. It provides step-by-step guidance on what to consider before hiring a financial professional, including how to check the background of an investment professional.
How to Select an Investment Professional
The U.S. Securities Exchange Commission (SEC) provides an easy-to-follow Investor Bulletin. It includes an investor checklist with key questions to ask when hiring a financial professional and aggregates links to related resources from other organizations.
Professional Designations Database
Use this tool to decode the letters that sometimes follow a financial professional’s name. You can also see whether the issuing organization requires continuing education, takes complaints, or has a way for you to confirm who holds the credential.
This section of Investor.gov has useful guidance for vetting investment advisers and consolidates resources you can use to check the background of financial professionals:
- Broker Check: FINRA’s free tool gives details on a broker’s background and qualifications.
- Investor Adviser Public Disclosure: A database containing filings of investment adviser firms.
- SEC Action Lookup - Individuals: This database contains information about defendants in SEC federal court actions.
State Insurance Departments Database
This tool provides state insurance commissioner contact information to research company and agent licensing information.
State securities regulators
Click on your state, province or territory to find helpful resources, including contact information for state and provincial securities regulators and other resources those agencies provide.
Senior Specialists Designations
This web page explains why one must be careful in doing business with financial professionals who use designations indicating expertise in helping seniors.
The SEC’s Ask Questions Guide
This provides consumers with suggested questions for a variety of purposes, such as:
- Investing in various financial products, such as mutual funds.
- Selecting an investment adviser or other financial professionals.
- Checking on the progress of investments.
- Handling problems with a financial professional.
Choosing an Investment Professional
FINRA’s guide provides helpful resources on interviewing and working with a financial professional, including tips for asking about fees and other compensation methods
Investor’s Guide to Securities Industry Disputes
This guide was prepared by the Pace Law School Investor Rights Clinic. It helps individual investors learn best practices for responsible investing and their options in case a dispute with an investment professional arises. The guide covers investor rights and responsibilities, tips on how to research brokerage firms and brokers, and brokers’ duties to their customers.
Making Sense of Professional Titles
The SEC’s Office of Investor Education and Advocacy and the North American Securities Administrators Association jointly produced this bulletin to help investors better understand the various titles used in the financial services field. The guide explains that the training required to earn and use various titles ranges widely, from rigorous to nothing at all. Examinations, ethical standards, relevant work experience and continuing education also vary greatly. As a result, it is important for investors to understand the titles a broker or adviser uses and what they mean in terms of expertise.
FINRA’s Securities Helpline for Seniors
This toll-free number (844-574-3577) is a FINRA service for senior investors seeking assistance about issues with brokerage accounts and investments. Callers can receive help on how to review an investment portfolio or account statement, and get information on relevant investor tools and resources, including BrokerCheck.
Estate Planning Info & FAQs
The American Bar Association’s guide provides a helpful overview of estate planning.
Revocable Trust
A guide to Revocable Trusts from the American Bar Association.
Introduction to Wills
A guide to wills from the American Bar Association.
Estate Planning: Wills, Trusts & Probate
A free, do-it-yourself guide to estate planning from Nolo.
State Laws: Estates & Probate
A compilation of state laws pertinent to wills and estates.
When Does Estate Planning End?
A video from the American Bar Association about the estate planning process.
Moving to a New State? Take a Look at Your Estate Plan
A guide from Nolo on steps that should be taken to update your estate plan when you move to a new state
Checklist for Executors
Nolo’s checklist details steps and duties involved in being an executor.
Power of Attorney
An American Bar Association Article on the Power of Attorney.
What is a Power of Attorney?
Information about Power of Attorney from the Consumer Financial Protection Bureau.
Shopping for Funeral Services
A series of articles from the Federal Trade Commission about practical considerations a person should make and how to avoid funeral scams.
Planning Your Own Funeral
This Federal Trade Commission guide provides useful advice on viewing funeral planning as an extension of estate planning.
End of Life Guide
This guide from the National Institute on Aging covers health and financial topics to consider when planning for the care of a person who can no longer make decisions due to serious illnesses and other physical conditions.
Caregiving
This guide from the National Institute on Aging covers health and financial topics to consider when planning for the care of a person who can no longer make decisions due to serious illnesses and other physical conditions.
Legal and Financial Planning for People with Alzheimer’s
This guide from the National Institute on Aging helps families with the financial management and estate plan wishes of someone with Alzheimer’s.