‘Baby steps’ toward retirement: Prudential gives Generation Beta a savings kick start and launches first-of-kind study
First-of-its-kind report reveals what the future may hold for Generation Beta, and the “Beta Baby Bonus” offered today inspires early financial action
To celebrate this new generation and encourage a head start on living a better life, longer, Prudential is kick-starting their retirement savings by offering the Beta Baby Bonus. Beginning today, parents or guardians of a “Beta baby” born in
New research commissioned in tandem with the Beta Baby Bonus shows that Americans are already worrying about this new generation’s financial journey, in addition to their own retirement security. Eighty percent of prospective Generation Beta parents agree that, in an ideal world, parents would start saving for their child’s retirement from birth. In fact, the No. 1 regret among current and prospective parents is that they “didn’t save more for retirement.”
“As a first-time parent, I understand how daunting financial planning can be for a family,” said Brandon Goldstein, ChFC®, financial planner with Prudential Financial. “While you can’t predict the future, you can plan for it from day one. My son’s future starts with me and how we plan for it as a family. Most new parents think about updating their healthcare plans or insurance policies, but that’s only the beginning. Reassessing your budget to ensure you’re accounting for long-term savings goals and factoring in expected rising costs for the entire family is a critical step.”
With a generation that may not retire until the 2100s, what might Generation Beta’s world look like? Prudential’s new report, Generation Beta: Redefining Life, Longevity, and Retirement, explores that and its impact on their financial future. Key findings include:
LIFE: How Generation Beta will work and live will look vastly different, with
LONGEVITY: Generation Beta is predicted to live longer than those before them, and the study reveals optimism about a healthcare revolution that will transform their lives — with half of adults believing that cancer will be cured by Generation Beta. This advancement will lead to extended life spans that will require increased financial preparation and evolved retirement models.
RETIREMENT: Today’s retirement norm may become a relic of the past, with more than half (
For nearly 150 years, Prudential has grown to become a rock millions have relied on by expanding access to investing, insurance and retirement security. Prudential offers a range of ever-evolving retirement strategies that can help build and protect your life’s work, no matter what the future brings. The Generation Beta: Redefining Life, Longevity, and Retirement report and the Beta Baby Bonus underscore Prudential’s commitment to encouraging every generation to take action in securing their financial future.
Visit the Prudential Newsroom to learn more, or find a local financial professional here. To apply for the Beta Baby Bonus, please visit www.betababybonus.com.
1 These amounts do not reflect actual investments and are provided for illustrative purposes only. They are not intended as investment advice or an investment recommendation. Estimated amounts were calculated using a standard annual compounding interest rate equation of
Generation Beta: A Prudential Study was conducted by McCann Worldgroup Truth Central on behalf of Prudential. This large-scale quantitative study surveyed 2,008 Americans aged 18+ between Nov. 1 and 7, 2024. For more information about McCann Worldgroup Truth Central click here.
About Prudential
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately
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MEDIA CONTACTS
Laura Coletti
Prudential Financial
Laura.coletti@prudential.com
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Weber Shandwick
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Source: Prudential Financial, Inc.