Senior citizens are usually viewed as very conservative investors that are strong believers in savings accounts and bank CD' s. These are certainly examples of the safest forms of investments. But the rate of return on these investments have dramatically dropped in recent years. Many others are now talking to financial planners, investment counselors and others that might point them in new directions such as the stock and bond markets and into the world of mutual funds.

The Massachusetts Secretary of State's office has just produced a comprehensive pamphlet called, "What You Should Know About Mutual Funds" available at no charge to consumers. Two important points made in the pamphlet are:

1) Financial Planners (a.k.a. brokers or financial advisors) are now required to be registered with the Securities Division of the Secretary of State's office. You can call 727-3548 to verify their status and see if there is a bad track record for that planner.

2) Mutual funds are not insured deposits guaranteed by the financial institution selling them or by the FDIC. This is a major difference from traditional bank savings accounts and CD's.

The Cambridge Consumers' Council (349-6150) has an ample supply of this new pamphlet. You may call and request a copy to be mailed to you or visit the office at 831 Massachusetts Ave. The booklets are also available at the Council on Aging and the Senior Centers.

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