FRANKFORT, Ky. (Dec. 28, 2017) — The Department of Financial Institutions congratulates Seth Woods of Minerva, Ky., on winning the 2017 “DASH for the STASH” investor education contest sponsored by DFI and the nonprofit Investor Protection Institute (IPI).
Woods played the scavenger-hunt style contest at the Mason County Public Library and won a $1,000 IRA contribution through the grant-funded program. Twenty-one public and community college libraries across the state participated in the program during August and September.
“DASH for the STASH is a great program. Bringing it to local libraries all over the state is a wonderful idea because financial literacy is very important,” said Woods.
To compete in the contest, players visited a participating library, read four posters covering investment topics, and answered four online questions about investing. The four topics included: selecting a financial adviser, avoiding fraud, understanding investment fees, and building a nest egg.
“The topic that I thought was most important was saving for a nest egg. People in their 20s and 30s do not realize how important it is to start saving early. I think that building a nest egg when you’re young – the power of that over your life span – when you’re ready to retire will make things so much better,” said Woods.
Mason County Library Executive Director Valerie Zempter encouraged library staff to participate in the contest so they could help patrons better understand the importance of financial investment.
“I’m still learning, and my guess is all investors are always learning. So, if you’re new to investing, this is a simple clarification of the processes and the terms,” said Zempter.
To learn more about the DASH for the STASH contest and to hear from this year’s winner, visit https://youtu.be/lkDwDO_CAWM.
The Daviess County Public Library won a $100 prize to promote investor education in the library through the DASH for the STASH program. Of the 21 Kentucky libraries that participated, Daviess County had the most patrons enter the contest.
Kentucky also boasted a third winner through this multi-state DASH for the STASH program. Melissa Fulton of Mays Lick, Ky., played the national online version of DASH for the STASH through IPI, which was open to people across the United States. Fulton answered questions correctly and was randomly selected to win a $150 contribution to her retirement account.
DFI, http://kfi.ky.gov, is an agency in the Public Protection Cabinet. For more than 100 years, it has supervised the financial services industry by examining, chartering, licensing, and registering various financial institutions, securities firms, and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.
IPI, http://www.iInvest.org, is an independent nonprofit organization that advances investor protection by conducting and supporting unbiased research and groundbreaking education programs. IPI carries out its mission through investor education, protection, and research programs delivered at the national and grassroots level in collaboration with state securities regulators and other strategic partners.