CAMP PENDLETON, Calif. -- Marine Corps Base Camp Pendleton’s Personal Financial Management Department and the U.S. Securities and Exchange Commission held a class to improve financial readiness and planning for Marines and Sailors at the base theater, Nov. 18.
The lecture covered topics on financial literacy such as personal finance, saving, investing and diversification.
“It’s important for servicemembers to be financially literate because it contributes to the unit’s readiness,” said Edward M. Brady, a staff accountant with the SEC. “Financial stability affects the wellbeing of the individuals, their families, and unit cohesion.”
The lecture also provided knowledge on defending against fraud and other investment risks.
“In addition to saving and investing, it’s important to ask and check the (credibility of potential investments),” said Tricia S. Kelly, a staff accountant with the SEC. “Ask a lot of questions and check out the information that you get from the broker and advisor. It’s really all about education. Education is how people are able to protect themselves and invest in the future.”
Magazines and brochures about the market and different financial assets were available at the event for participants to study and establish a solid financial knowledge base.
“Benjamin Franklin once said that ‘an investment in knowledge pays the best interest,’” said Brady. “It’s necessary to educate yourself in order to make good investment decisions and earn substantial returns.”
For some participants, the course provided valuable information which they believe would help Marines and Sailors plan for the future.
“When I joined the Navy at 20 years old, I didn’t know much about different funds available to me,” said Petty Officer 2nd Class Karla Quintero. “I think there should have been a course this in-depth for the younger Marines and Sailors getting them early in their career so they can make educated decisions on what to do with their money and make their money work for them.”
The Base Personal Financial Management Department offers numerous programs throughout the year for Marines, Sailors and their dependents. These classes cover a wide range of topics, from money and credit management, investment basics, student loans and the impacts of divorce on finances. For more information on available classes, please call 760-725-6098 For resources of investing and defending against fraud, visit www.sec.gov and www.finra.org.