If you’ve got friends who have been posting non-stop on social media about their two-day-old baby, you can now reply with something a little more substantial than “#blessed.”
Perhaps you should consider #Borntosave.
In news that would have been supremely more useful to me nine months ago, one company is offering a free $500 mutual fund investment to any baby born in the U.S. on Monday, which was October 20, 2014.
Voya Financial, formerly ING U.S., is celebrating National Retirement Week, the one-year anniversary of its own IPO, and its stated vision of becoming America’s Retirement Company with the offer pending filling out all the right paperwork, including providing proof of the child’s birth on October 20, 2014.
Called the Born to Save program, this is a pretty awesome deal for anyone who just happened to have their baby on Monday.
For the rest of us, it’s just a good reminder how important it is to get started investing early: that $500 alone, if left untouched, has the potential to grow into a substantial size to the tune of tens of thousands of dollars when it’s time for that newborn to retire.
Source: Voya Financial. “Voya Financial Offers $500 Mutual Fund Investment to Every Baby Born on October 20, 2014.” Oct. 20, 2014. Disclaimers:I’m getting no money from Voya for posting this
When I asked about hidden conditions, a representative from Voya financial said:
“This is a complimentary offering — there are no out-of-pocket costs associated with enrolling an eligible baby in the program, or for a receiving a $500 mutual fund investment as a head start on their retirement savings. Parents [or] guardians are not required to purchase any products from Voya in order to enroll their baby in the program and they do not need to be an existing customer of Voya to receive the offer
She went on to say:
We want [Debt BLAG] readers to think about retirement not simply as a distant destination, but as a journey that starts the day they are born. We believe it’s never too early — or too late — to start saving.
Solid. Anyhow, good luck and please make sure to pass this along to anyone you know who might have recently had a baby. I’d love to see lots of people take advantage of this 🙂