By this point, it is well known that teaching economic education and training to children is necessary. According to a recent Schwab survey, 25 states require financial education in order to graduate, and nearly two-thirds (63%) of U.S. adults chose it as the most crucial supplementary graduation requirement after math, English, or science.
High-profile individuals like Lisa Buffington, Alex Assaley, Derek Fiorenza, Kristi Baker, Amy Glynn, and Devyn Deux are among those participating in the retirement plan expert industry’s growing participation and advocacy work.
They actively participate in FinLitFuture$, an education program created and funded by the Retirement Advisor Council’s (RAC) financial literacy commission.
We believe that by promoting financial knowledge for its youth, we can power the financial information of America’s future leaders, starting with the greatest goal in mind, according to RAC. The social charity and lobbying efforts of economic advisors, services providers, asset managers, and retirement industry associates who share a commitment to advancing economic education in schools and community programs are strongly committed to being supported, [organized], and inspired by FinLitFuture.
According to Marsh & McLennan’s Lisa Buffington, a RAC member, there are many financial professionals who want to help but don’t know where to begin. This is why there is the FinLitFuture$ website and its Volunteer Effort Tracking Survey, where people can report the volunteer efforts they’re leading in their communities while tracking the industry impact overall.
First things first, according to Buffington, “our RAC financial education committee put up a website with approved programs and customized content.” There are up to 25 states that now require financial literacy for high school graduation, but many of them haven’t yet developed their curricula, so they’re looking for partners to assist them in checking these boxes.
She has volunteered for more than 15 years, working with FinLitFuture$ lovers like Junior Achievement, a charter school for which she serves as head of the table, and overseeing the mentoring program for girls at Marsh & McLennan. She is no stranger to economic education training.
She emphasized that FinLitFuture$ and the resources it offers are more about boosting participation in general and cited Petros Koumantaros of Spectrum Pension Consultants as an illustration of someone who “does their unique thing” to illustrate this point.
“He’s a Mr. 401(k) guy, but he uses his own resources, which is fantastic,” Buffington said. “It’s great if you’re doing your own factor; just let us know so we can assist. In order to increase the impact we’re having, we also have a study where we gather charity efforts in the pension sector.”
It’s all about going nearby, according to RAC, if officials are interested in different methods for finding or creating local volunteer opportunities. Get in touch with the neighborhood Boys & Girls Club, YMCA, and JWCA. Or get in touch with the neighborhood board of education. Excellent sources include the PTA, Chamber of Commerce, Rotary Clubs, United Way, and Habitat for Humanity.