Description: The article is about Empower NADA retirement program, inviting several important guests to come to the shows and share their experiences of empower retirement in the presentation.
I have immediate gratification. I can see what that does for my future. I can see it moves my goal from sixty-six percent to seventy four percent and then it’s also narrowed my income gap.
I also get to see what that does for me, it’s going to cost me 90 dollars and eighty three cents to have two hundred sixty seven dollars more months in retirement.
If I’m Taylor Smith which is the name of the participants demo, I can make two clicks, submit my change, I have done the best thing, we know that people need guidance, they need help and answers, they have lost questions.
We don’t stop there, we give them the next step all times, we know from an investment standpoint, people have questions about how to invest, there are tools and resources available depending on what type of investor you are.
To pick the help that you need within your program, the one thing that we should know is that health care costs are a big deal, health care is on everybody’s minds especially with where we are and where we’re going to go in the future.
Retirees don’t understand health care costs and they haven’t prepared for what is going to look for in retirement, so this tool gives close to our 35 and determine where they’re going to spend their money on health care.
Once they get to retirement and give them a real picture and how that changes as well, the nice thing is that it can be customized, so we have six specific space here at the bottom left that have an impact on retirement and retirement savings and especially on longevity.
We talked about social media in the last session and it’s all over this convention, the other thing we know is Millennials, we want to know how they stack up Facebook.
The reason we’re on Facebook is to keep up with the Joneses and make sure that all the people who enticed us aren’t doing something cooler than the rest of us.
This tool allows people to take a look at where they’re at, how they stack up against the rest of the people that are on our system, but most importantly, no one wants to be average, so I don’t want to meet what my peers are doing, I want to know what the top 10% are doing, I want to know what the people who are going to be the most successful are doing to meet their goals and what those folks are doing, so the concept of social norming and giving people at perspective of the competition of retirement. It’s helpful as well.
The other thing that we know is retirement which is only a piece of your employees, they hit with financial stuff all day, every day, I go for additional tools and resources to understand how retirement fits into my overall financial picture.
The second piece of it is that we have availability to employees, it’s something called savings and Bill manager uses their leverage and their participation in the retirement program to help them pay their bills on time, set up automatic, set up a budget and set up ongoing saving.
I’m Ryan Salazar, we’re here in New Orleans for the National Automobile Dealers Association 100th anniversary, what a great show it is ! We’re having a wonderful time, we feel excited to be with the auto industry.
Today we have a very special guest, she has a presentation to give Amy Fox of empower retirement, how are you? It’s great to have you, so let’s get into it, the Power Retirement.
Our goal is to help your employees of the dealership to replace their working income for life and to require with dignity, the retirement landscape is changing, lots of things are going on and your employees focus on a lot of different things.
Having done this for 17 years, the three most common questions that I run into the field, I need to be able to retire successfully, Ryan, can you take a guess how often or how much time people spend on the average Financial Services website, everyone got so much going on, most people have spent about 18 seconds on a financial services website, so what does that tell me?
If my three questions are in depth and detailed, if we take a look at what the current retirement website, when you first log in here, you have your account balance, you have the right, so you’re saving and you have where you’re invested, but that doesn’t answer your three main questions and it doesn’t tell you how close you are to achieve your retirement goals.
One of the things we’re rolling out this year for the NADA retirement program is a new website to engage your employees, help them think about retirement differently and give them an idea of where they’re going.
If we take a look at that, if I have 18 seconds, what will this view tell me? It says I’m sixty-six percent of the way to achieving my retirement goal, it tells me that in my retirement years, I can expect to receive about 2,250 dot four dollars a month.
It gives me some easy tools to make a direct impact on those questions that I have, so what we’re trying to do is to put retirement into a perspective that makes sense.