Music has fundamentally been regarded as a universal language, lauded for its ability to send messages across generations, cultures, and more. Today is no different, as insurance giant TIAA announced its partnership with hip-hop legend Wyclef Jean on a new track titled “Paper Right,” featuring artists Pusha T, Lola Brooke, Capella Grey, and Flau-jae, to inspire younger generations on their own future finances.
“Music possesses an extraordinary ability to elevate awareness, inspire, and drive conversation among key audiences – including younger generations. While retirement may feel far away for younger Americans, the reality is that having these conversations now can help them achieve a financially secure future,” said Zara Mirza, chief brand Officer at TIAA, in a statement. “The goal is for “Paper Right” to have real impact and spark thought among those starting in their careers to consider their financial future and retirement.”
The collaboration is part of TIAA’s #RetireInequality campaign, which draws attention to the retirement and savings gap faced by Black Americans, who have historically been met with disparities in pay, savings, and wealth. According to research by the Center for Retirement Research at Boston College, 54% of Black Americans today do not have enough money saved to uphold their standard of living in retirement.
“Paper Right is about building a financial legacy for future generations and the reward and gratification this brings. The most important thing I hope people take away from the song and my partnership with TIAA is that saving earlier can set you and your family up for long-term success,” added Wyclef Jean, founding member of the Fugees.
The track “sparks essential conversations around retirement and encourages action to help close retirement gaps, improve financial education and literacy, and retire inequality for good,” according to TIAA’s press release on the announcement. All song sales from “Paper Right,” will be automatically donated to First Generation Investors (FGI), a non-profit that teaches investing and retirement literacy to high school students, and who TIAA partners with.
TIAA has also launched #StreamToStack, described as “an Instagram augmented reality ad” that triggers streamers to listen to “Paper Right” and donate to FGI when they point their camera phone at a U.S. dollar bill.
The #RetireInequality initiative hosted by TIAA brings attention to multiple gaps facing the retirement industry. In March, TIAA partnered with music and dance director Daps and choreographer Sean Bankhead, to launch an advertisement bringing light to the retirement and savings gaps affecting Black Americans.
In 2022, the company collaborated with players and coaches from the NCAA and WNBA including A’Ja Wilson and Dawn Staley; equal pay activist Abby Wambach, the USWNT and Women’s College World Series; Money Coach Lynnette Khalfani-Cox; and fashion designer Fe Noel at New York Fashion Week, to underscore gender inequality in retirement.
Listeners can stream “Paper Right” on all streaming services, including Spotify, Apple Music, and Amazon Music, and learn more about the #RetirementInequality initiative at www.retireinequality.com.
SEE ALSO:
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.
