Have you heard about the new tactic Bank of America is using to get their clients to save more for retirement? Believe it or not, Bank of America/Merrill Edge has started a website called Face Retirement, which gives users a peek at what they’ll look like by the time retirement rolls around (it’s true!). The app is intended to offer customers a glimpse into the future, hopefully encouraging a major step up in saving for retirement.
New Face Retirement App Affects Your Financial Future?
“People who saw age-enhanced images of themselves were more likely to save more for retirement, compared to those who weren’t exposed to their future selves.” Alok Prasad, the head of Merrill Edge
I have to admit, it’s a pretty interesting approach to getting people to up their game when it comes to saving, but does it really work? I gave the website a try and while I don’t know that it’s going to get me to save more, it is a great reminder to use sunscreen every day and to continue to take great care of my skin! Also, the website has some really cool information about the cost of living years from now.
Have you tried Face Retirement? Will it get you to start saving early?
