Fintech Industry Experts Making Financial Success Accessible and
Attainable for All Through Easy-to-Use, Innovative App and New
Junior Roth IRA™
BOSTON, May 9, 2024
/PRNewswire-PRWeb/ -- FutureMoney announced today the launch of
their tech-enabled micro-investing platform that helps everyday
families create generational wealth and give their kids a head
start on building a nest egg. Through the incredible power of
compounding returns and their simple, easy-to-use app, FutureMoney
enables parents to quickly establish an account for their children,
choose their goals and set up automatically recurring deposits,
with an investment of only a few dollars a week.
"Our goal with FutureMoney is to give moms
and dads at all income levels more confidence and comfort, knowing
they're providing financial security for their kids regardless of
what happens later in life." - Philip
Barrar, CEO and founder of FutureMoney.
Founded by two fintech industry veterans who saw a gap in the
market, specifically for parents, FutureMoney is breaking down
barriers to financial security by offering a platform that makes
saving accessible and attainable for the average family.
FutureMoney is a one-stop-shop for parents designed to take the
guesswork out of saving with fully managed portfolios, automated
deposits and tax optimization so that people can keep more money in
their investments.
"We're the first generation that is financially worse off than
our parents, and we've seen firsthand the hurdles new parents
encounter when trying to determine the best way to save and invest
in their children's future," said Philip
Barrar, CEO and founder of FutureMoney. "Our goal with
FutureMoney is to give moms and dads at all income levels more
confidence and comfort, knowing they're providing financial
security for their kids regardless of what happens later in life.
We want to give parents options and make investing more
inclusive."
FutureMoney's innovative approach to child-focused investing is
reflected in their signature offering: the Junior Roth IRA™, a
unique, proprietary, tax-advantaged account service leveraging 529
plans that can be transitioned to a Roth IRA account after 15
years. It allows loved ones to contribute up to $35,000 before a child turns 18, which then grows
tax-free into their retirement. Unlike a custodial Roth IRA or
other offerings in the family investing space, the Junior Roth IRA
has no requirement for earned income or income limits.
"If a parent invests just $10 a
week from their child's birth to age 18 and then leaves it to grow
for 50 years, their child could have a $1
million nest egg, assuming 8% compounding annual returns,"
said Dave Fortin, CFA, co-founder of
FutureMoney. "Investing early changes lives. As a father of twins,
I'm excited about the potential of the Junior Roth IRA and we are
confident it will transform the way families save."
For additional information on FutureMoney, visit
www.futuremoney.co. The app can be downloaded via the Apple
App Store or Google Play on any
smartphone.
ABOUT FUTUREMONEY
FutureMoney is a Boston-based
micro-investing platform that helps everyday families create
generational wealth and give their kids a head start on building a
nest egg. Founded by two fintech industry veterans who wanted a
better solution to invest for their kids, FutureMoney is on a
mission to make investing more inclusive and accessible to the
average family, to secure a solid financial future for the next
generation and to ensure that you can keep and grow as much of your
hard-earned money as possible. Their signature offering, the Junior
Roth IRA™, is a unique, proprietary, tax-advantaged account service
leveraging 529 accounts that can be transitioned to a Roth IRA
account after 15 years. Unlike a custodial Roth IRA or other
offerings in the family investing space, the Junior Roth IRA™ has
no requirement for earned income or income limits. For additional
information on FutureMoney and to download the app, visit
www.futuremoney.co.
Media Contact
Sarah Gallagher, Azul PR +
Communications, 1 224.406.4709, sarahgallagherpr@gmail.com,
https://azulcommunications.com
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SOURCE FutureMoney