Resources available to help Maine veterans, civilians save for retirement

Tue, 02/24/2015 - 7:30am

    AUGUSTA — Maine's Department of Professional and Financial Regulation is promoting February 23-28 as "America Saves Week" and "Military Saves Week." The Department is leading the State's effort to highlight these national campaigns sponsored by the American Savings Education Council.

    Recognizing that many Americans are not saving enough for retirement and other goals, "America Saves Week" began in 2007 to bring organizations from all sectors together to encourage good savings practices and to provide tools for individuals to assess their own saving status.

    "Military Saves Week" is a parallel campaign that focuses on service members, veterans and their families.

    Commissioner Anne Head and Securities Administrator Judith Shaw said the department's Office of Securities is refunding the license renewal fee for those licensees who are on active military duty, and making a personal finance guide, Financial Field Manual, available to Service Members and Veterans.

    "The Financial Field Manual is a comprehensive 20-page booklet to assist Service Members and Veterans," Shaw said, in a news release. "It covers a wide range of important topics, including special home-buying resources for military families. The manual also provides advice to help service members protect investments when retiring."

    Shaw noted that "safe investing" resources for all Maine families are available on the Office of Securities' website (investors.maine.gov) or by calling 1-877-624-8551. "To avoid investment fraud and invest as safely as possible, investors should make a rule to always check the credentials of any investment adviser or broker before entrusting money to them."

    Additionally, the Department's Bureau of Financial Institutions offers a number of brochures and resources to assist individuals, families and businesses with saving, banking and managing money.

    Online materials are available under "Consumer Library" at maine.gov/pfr/financialinstitutions. Nationally, hundreds of governmental, corporate, and nonprofit organizations are promoting the goals of the campaign. To learn more, visit americasaves.org or militarysaves.org.