Do you feel it is almost impossible to save any money? With the almost constant news about Internet stocks and 401(k) plans, do you feel like your the last member of the baby boom generation to get started in building an investment portfolio?

"Spring is a great time of year to begin thinking about saving and investing," said Ohio Securities Commissioner Thomas E. Geyer. "With your income tax refund, now might be the time to place that money in a savings account for a rainy day or to begin investing for your retirement . With many mutual funds, you can get started for as little as $100 with a monthly addition of $25."

The 1999 Retirement Confidence Survey found that 20 percent of workers in their 40s report that their household has not yet begun to save for retirement. In addition, the median amount saved among 40-something households is less than $50,000.

Experts say that Americans will likely spend 70-80 percent of their pre-retirement income to maintain their current standard of living in retirement. According to the American Savings Education Council, that means a 45-year-old who earns $50,000 and who plans to retire by age 65 needs to accumulate $336,000 by age 65, in order to maintain their standard of living.

Commissioner Geyer said that the key to taking charge of one’s finances is through the development of a financial plan. "Research shows that people who set savings goals, on average, save twice as much money as those without a financial plan," he noted. In developing the plan, Commissioner Geyer recommended the following:

• define the purpose for saving and investing;

• set short-term and long-term financial goals;

• establish a level of risk tolerance;

• consider which saving and investing products are best for your goals and risk tolerance (including employer- sponsored plans); and

• stay disciplined.

Once you have a financial plan in place, Geyer said that the word "THINK" serves as a useful acronym when considering an investment opportunity:

• Treat investment guarantees with skepticism.

• Home in on your investment objectives.

• Investigate before you invest.

• Never be pressured into a particular investment opportunity.

• Know how your investment funds will be used.

The Division of Securities, which can be reached at 1-800-788-1194 or at www.securities.state.oh.us, serves as a resource for investors and potential investors, providing information about the licensing status of those who sell securities and give investment advice, and information about whether certain securities products are registered.

"Contacting the Division to gather information should be a critical part of investigating before you invest," Geyer said. He noted that the Division provides, free of charge, a wide array of investor education literature such as "Who’s Who in the Financial Planner and Investment Adviser Field," "Questions for Informed Investors," and the "Investor Bill of Rights."

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The Division of Securities promotes an honest and fair securities market where individuals and businesses can raise capital and investors can expect a fair return on their investment. Other Commerce divisions enforce regulations regarding industrial compliance, financial institutions, real estate, liquor, auctioneers, and unclaimed funds, among others. The department's Internet address is www.com.state.oh.us