By David Hsu, Fall 2016 Student Intern
As the name of the Save & Invest block suggests, this building block focuses on becoming educated and developing good habits with regards to saving and investing. With savings, many people have trouble saving money for emergencies, and the site provides resources with tips and tricks to develop good habits with saving money. With investing, the site discusses what considerations need to be made before investing money, how to check the credentials of financial professionals before hiring them, and when and how much one should invest.
The MyMoney.gov website provides links to over 150 resources. Some of the highlights include an article about investing in bullion from the FTC, a Treasure Department initiative entitled “Ready.Save.Grow” to help people save money including using products offered by the U.S. Treasury, a primer on resources available through the SEC to check out brokers and investment advisers, and a presentation from the Consumer Finance Protection Bureau about making the best financial decision when it comes to lump sum pension payouts.
Whether we are looking for help gaining discipline in saving for emergencies, wanting to find out how to best save for our kid’s college education, or simply want to maximize our financial picture for retirement, the MyMoney.gov resources provide easy access to much of the information available to us to help us make the best decisions possible.
This building block is in many ways the most in-depth and involved block, and someone interested in maximizing their understanding of the MyMoney five would do well to spend more time focusing on the resources available here.