Published: December 04, 2012
Merrill Edge Launches Face Retirement
NEW YORK - (BUSINESS WIRE) - In an effort to motivate Americans to save for their retirement, Merrill
Edge today introduced Face
Retirement, a social tool that ages a picture of consumers, enabling
them to see how they will look years down the line.
"In a Stanford
University experiment, 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," said Alok Prasad,
head of Merrill Edge. "Face Retirement is designed to minimize that gap
by giving consumers a preview of their future self, encouraging them to
take control of long-term financial planning."
According to the fall 2012 Merrill
Edge Report, half (52 percent) of mass affluent have saved less than
$250,000 for retirement. As a result, more than half of respondents plan
to retire later than they had one year ago (56 percent), a
year-over-year increase of 19 percent from November 2011.
To read the complete release at NewsBlaze,
Merrill Edge Launches Face Retirement,
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