Robert Orben, former comedy writer and speechwriter for President Gerald Ford, once quipped, “If you think education is expensive, try ignorance.” Evidently, this quote resonated with syndicated columnist Ann Landers, who first shared it with her readers back in 1975.
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Many Americans are acutely aware of the costs associated with financial illiteracy. A 2022 survey conducted by the National Financial Educators Council (NFEC) revealed the annual impact linked to the lack of financial knowledge is around $1,819 per American. That works out to be a total cost of more than $436 billion annually among Americans.
As a result, it’s now a common practice for U.S. employers to offer financial wellness benefits to raise employees’ awareness about a range of financial topics, like tackling debt and practical investment concepts.
Workplace financial-wellness programs appear to be quite popular among many American employees. Voya’s 2023 “Participants Sentiments Survey” revealed 80% of employees are somewhat or very interested in financial wellness offerings. Eighty-two percent of employees said investment education is among their top two topics of interest.
If you are also interested in learning more about investments, here are eight free resources to consider:
— Workplace financial wellness programs.
— CFP Board.
— Investment providers and planners.
— U.S. Securities and Exchange Commission.
— U.S. Department of Labor.
— Financial Planning Association.
— Online courses.
— Libraries.
Workplace Financial Wellness Programs
A 2022 Bank of America study found 97% of employers feel responsible for their employees’ financial wellness, and 84% say financial-wellness programs can help them reduce employee attrition. For example, many employers are aware that when their employees are comfortable with their retirement-plan investments and feel like they are on track to retire on time they are less likely shop for another job. Typically, employers deliver investment education through their workplace plan providers and on-site or online learning activities.
CFP Board
“Consumer education and raising awareness are a key priority for CFP Board in the coming decade,” says Kevin Keller, CFP Board chief executive officer. Keller adds, “CFP Board offers accessible financial planning resources on LetsMakeAPlan.org, covering everything from investment planning to preparing for major life events. Earlier this month, we hosted a special webinar for federal government employees offering practical guidance for managing financial uncertainty.”
Investment Providers and Planners
It’s common for investment companies and financial-planning firms to offer consumers access to a range of free investment resources. Vanguard, Fidelity and Manulife, for example, share basic education ranging from how to start an investment strategy to key insights on capital markets. Many registered investment advisors, like Compound Planning, can dive a bit deeper on specific investment strategies, such as how to evaluate private equity or plan for a 1031 real estate exchange.
U.S. Securities and Exchange Commission
The U.S. Securities and Exchange Commission offers consumers an excellent primer on how to build an investment savings plan, what key investment terms mean, and how to protect against investment fraud.
U.S. Department of Labor
The U.S. Department of Labor’s “Taking the Mystery Out of Retirement Planning” outlines how investors can use their resources, like a 401(k) plan, to generate income in retirement. Chapter two of this resource shares key tips on investment portfolio design in retirement.
Financial Planning Association
The Financial Planning Association offers consumers tips on how to access pro bono financial planning nationwide and what types of questions they should ask a prospective financial advisor.
Online Courses
There are a variety of free investment courses offered online. Yale University offers classes on financial markets. Morningstar’s Investing Classroom covers several investment topics, like the basics of bonds and stocks and portfolio construction. Stanford University offers a free course on venture-capital investments. Wharton Online culls together a variety of investment blogs, courses and related resources.
Libraries
Local libraries and the American Library Association offer free resources to investors of all ages, including children and teens. Also, Smartinvesting@yourlibrary, which is sponsored by the American Library Association and FINRA Investor Education Foundation, is designed to help consumers of all ages make wise money choices, like saving for college and retirement.
All of these free resources are intended to increase your comfort level with various investment topics. And as Ben Franklin once put it, “An investment in knowledge pays the best interest.”
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8 Free Investment Classes and Resources for Adults and Teens originally appeared on usnews.com
Update 03/31/25: This story was published at an earlier date and has been updated with new information.
