NEW YORK--(BUSINESS WIRE)--Silvur, the first and only app dedicated to helping Baby Boomers reach their retirement goals, has launched ‘New Retirement Normal’ -- a campaign that aims to help Americans who are nearing or living in retirement reimagine their hopes and dreams in light of the turbulence brought on by the COVD-19 pandemic. As the pandemic has both forced and inspired the reconsideration of many things, from how we live, to how we work, to how we have fun, and more, there are few aspects of our lives that have not been touched by this moment of reflection and recalibration. With ‘New Retirement Normal,’ Silvur aims to inspire a new worldview that favors connection and meaningful experiences, providing its users with the tools to live out their most active and dynamic depiction of retirement yet.
In a survey of 1,000 Americans, data shows that Boomers are optimistic and eager to live their best retirement lives post-COVID. Results show that:
- Travel is top of mind - Nearly 30% of Boomers say that travel of some kind is the first thing they plan to spend on post-quarantine, with road trips (66.5%) via car or RV coming in as the type of trip this group is planning on taking before the end of the year.
- Adjusting budgets to make their dreams come true - 47.5% have reduced their spending by $125 or more each month during COVID, with nearly half (47%) finding they can live with fewer luxuries post-COVID.
- They can handle the heat - No getting out of the kitchen here. Nearly half (44%) of Boomers say that planning to continue cooking more versus ordering in or eating out is the money-saving habit they most plan to keep up with post-quarantine. And for those planning home renovations (41%), the kitchen is the room that most plan to update (41.6%).
- Goal-oriented - Boomers have big dreams for their life in retirement. More than half (51.5%) plan to focus more on their health, 35.3% plan to spend more time outdoors, and 34.1% want to travel more. In fact, ‘travel being safe’ came in as Boomers’ number one hope for the future post-pandemic.
“Boomers are looking at post-COVID as a time to both re-establish their path to retirement and to redefine what their goals look like during this exciting phase of their lives. They’re eager to pick up on their bucket list items, like travel, and are willing to adjust their budgets to make these dreams happen,” said Rhian Horgan, CEO and Founder of Silvur. “When people think of retirement planning, they often think about finances, but these savings are just a means to make these goals and hopes come to fruition. With our New Retirement Normal campaign, we hope to make it even easier for our users to meet those goals as soon as possible so they can continue living their best lives during their hard earned retirement years.”
In addition to these goals, survey results showed that this generation is increasingly embracing digital technology in an effort to stay connected and educated during COVID, busting myths that this generation isn’t tech savvy. More than 65% of Boomers shared that they saw a doctor virtually during quarantine, while more than 20% engaged with online learning. This group has also been active using apps from social media (60.5%) to streaming (44%) to banking (31.4%).
With Silvur’s ‘New Retirement Normal,’ users can quickly assess where they stand through Silvur’s new Retirement Score which predicts how long their money will last in retirement. Now through the end of the year, users will also have the chance to win more than $100,000 that can be used to meet their new and improved retirement goals. Once the app is downloaded, users will be guided through a set of checklists that will help make their retirement savings more resilient, dynamic, and flexible. Checklist topics range from navigating key retirement financial decisions, Medicare and prescription drug costs, home refinancing and downsizing, travelling post COVID-19, and more. Each time a user completes an item on their checklist, they will be automatically entered to win one of over 500 prizes. All users will also have access to discounts from new marketplace brand partners including storage on-demand provider MakeSpace, road trip planner Roadtrippers.com, and Skillshare to foster lifelong learning.
Silvur is the first and only app dedicated to helping Baby Boomers reach their retirement goals. Silvur’s all-in-one app provides a modern, simple way to help people understand retirement finances and work towards post-retirement goals, while most importantly helping them make the smartest decisions to use and extend their hard earned savings. With a suite of interactive tools, money-saving advice, and timely content, Silvur offers personalized projections based on current income, spending, assets, and account balances. Additionally, Silvur helps extend retirees’ savings with its Silvur Marketplace that offers cash back on everyday purchases so they can save more money for their goals. The App Silvur was built by our parent company Kindur, recently recognized on the 2020 Forbes Fintech 50 list. For additional information, please visit www.silvur.com