How do you map a better plan for saving and investment? How do you ensure your retirement isn’t taken for a ride? (Ugh)
In a teaming of two tech-economy stalwarts, Uber has hired robo advisor Betterment to offer “flexible retirement accounts with no fees for the first year exclusively to people who drive with the Uber platform,” according to the innovative transportation company.
Citing statistics from the Federal Reserve, Uber notes that nearly one-third of Americans have no retirement savings or pension. And research consistently shows that when people have access to a retirement account, they’re more likely to save than not.
“Starting today, drivers in select cities can use the Uber app to open a Betterment IRA or Roth IRA for free for the first year,” Rachel Holt, regional general manager for US and Canada, wrote on the company’s website. “People who drive with Uber can get started with no minimum account balance, and Betterment’s team of experts is available seven days a week to walk investors of every skill level through every step of the investment process.”
With Uber, you can push a button “and get work.” Now drivers can use the same app that gives them “complete control over their time and schedule to have the opportunity to take control of their financial future as well.”
“I love being my own boss,” said Gary K., who drives with Uber in Seattle, Washington. “The ability to save money and invest in my own future and retirement through the app is just awesome.”
This offer is available to drivers in Seattle, Boston, Chicago and New Jersey, and the company plans to work with Betterment to roll it out nationwide soon as part of their Driver Rewards program of rewards and discounts, available to people who drive with the Uber platform.
With more than 20 years serving financial markets, John Sullivan is the former editor-in-chief of Investment Advisor magazine and retirement editor of ThinkAdvisor.com. Sullivan is also the former editor of Boomer Market Advisor and Bank Advisor magazines, and has a background in the insurance and investment industries in addition to his journalism roots.
