This emphasis on education, and the media's critical role as a public educator on savings issues, is also championed by SEC Chairman Arthur Levitt. The need to plan for financial security is an issue that touches almost every American. It has widespread relevance, cutting across generation, race, culture and geography. There is a pressing need for more information on how to manage finances.
Millions lack basic knowledge of investment terms and strategies.
Most Americans have no idea how much money they will need to save for retirement. Levitt's remarks opened a two-hour panel discussion at the ASEC meeting on opportunities and obstacles to promoting savings education in the media. Panelists included reporters from such major outlets as USA Today, the Washington Post, the Today Show and Business Week. We have established ASEC as a national resource for savings and retirement planning information, and are very pleased with the talented people participating in this media discussion. It uses the full spectrum of broadcast media, including a series of public service announcements, news segments, town hall meetings, and a one-hour news special.