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Gary P. Ruchin Comment On Special Notice – 6/30/21

Gary P. Ruchin
Commonwealth Financial Network

Comments Regarding Effective Methods to Educate New Investors. I think one of the first places to start would be to get an effective basic investor training program as part of every single high school curriculum in this country. Most schools seem to instruct so that the student can pass a test, not necessarily be educated about financial literacy. The last time I was able to present a basic investor training program at my local high school was approximately 15 years ago (I used the high school educational program supplied by the CFP Board of Standards). I have tried on numerous occasions to have the school reinitiate this program, but I have been 100% unsuccessful. I think this needs to come from the top down rather than the bottom up. I know this is a grandiose approach, but I think it must start from the top. Maybe the US Department of Education could cooperate with FINRA and do a joint venture in this area and co-sponsor program. The inability of graduating seniors to even balance a checkbook let alone understand basic Investment concepts would shock most people. The next step would have colleges offer as part of their core curriculum (whether it is a two-year community college, a four-year university or some type of trade or technology training center) some continued expansion of what was learned in high school on the basics of financial planning/investments. Two to four years later these people are out in the workforce attempting to make decisions on their company-sponsored retirement plan and they have no understanding what their options are when it comes to selecting the appropriate investments for their retirement program at work. Thank you for your time and I do appreciate the ability to make comments on it is especially important subject. Sincerely, Gary P. Ruchin