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.
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, [email protected], https://azulcommunications.com
SOURCE FutureMoney
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