This weeks' program looks at what seniors should consider when investing money in a bear market and weak economy. Jennifer sits down with SEC Commissioner Elisse Walter and Maine Office of Securities Director Judy Shaw.

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Top Ten Things to Do Before You Invest:

1. Contact your Regulator (Maine Office of Securities 877-624-8551)  

 

2. Don't Invest in Something Just Because Someone You Know Did (i.e. mother, brother, father, sister, brother-in-law, friend, aunt, postman, clergy, business partner, etc.)

 

3. Look for Red Flags (i.e. guaranteed returns, no risk, make the check out to me, I'll get you the paperwork later, false credentials, trust me, "inside information")

 

4. Don't be Rushed into an Investment

 

5. Delete "Investment Opportunity" SPAM (and forward it to the SEC at enforcement@sec.gov)

 

6. Don't Believe Everything You Hear (i.e. Is the broker telling you something different than what is in writing?)

 

7. Get it in Writing (But don't believe everything you read)

 

8. Ask Questions about the Investment (i.e. registered, risk,returns, fees, liquidity, suitable, professional designations)

 

9. Ask Questions about the Broker (i.e. training/experience, how long have you been a broker/ any disciplinary history, are they resgistered)

 

10. Know your Risk Tolerance.

Related Links:

Senior Investing:

Maine Office of Securties
www.maine.gov/pfr/securities

U.S. Securties and Exchange Commission
www.sec.gov

Chewonki Foundation:
www.chewonki.org