The latest campaign from Empower analyzes the financial stressors investors face today, from budgeting tips to saving for retirement.
The financial planning organization recently unveiled its new TV spots for its “What’s Next” campaign, where it encourages investors to tackle financial concerns head on so they can move towards the next phases of their lives.
Studies have shown that consumers are increasingly worried over their short- and long-term savings, to the point where some refuse to speak on their finances. Empower’s 2023 Money Talks research found that 27% of the 2,000 people surveyed revealed they never talk about their retirement savings, while 62% refuse to talk about money at all. Yet, 66% of respondents believe talking about money could help them achieve financial freedom.
While some refuse to speak on the subject altogether, others have questions surrounding their finances: 86% of Americans in Empower’s research say they would like to know how to spend and save their money, even if one in three fear being judged for inquiring about it. In fact, more than a third of survey respondents regularly worry about money, with that number being higher for Gen Z and Millennial consumers (51% and 49%, respectively).
“Every generation has questions about money, but nearly half of Americans say they never talk about how much they have or how much they need to be financially secure,” said Stephen E. Jenks, vice president and CMO of Empower. “Our new TV spots challenge traditional money taboos with a sense of levity to help people overcome anxieties that might be holding them back from reaching their full financial potential.”
According to a release by Empower, the company’s commercials will run nationwide across primetime, lifestyle networks, sports and news channels, audio and digital partnerships, with additional spots to roll out through 2024.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.