08.20.19
A Call to Fintechs to Help Stave Off a Retirement Crisis
by: Penny Crosman
Helping Americans prepare for retirement is a $14 trillion opportunity most fintech startups are missing out on as they focus on the needs of millennials instead of older Americans, according to Ben Cukier, co-founder of Centana Growth Partners. "The first wave of fintechs addressing retirement have all aimed at the millennials, a problem that's 40 years off. The stark reality is millennials today don’t have any money and won't for 10 years," says Cukier. "If you want to attack money, there's $14 trillion in retirement accounts and probably more than that in homes that will need to be liquidated, small businesses, etc. You're talking tens of trillions of dollars in baby boomers’ assets that move from the accumulation to the decumulation phase over the next decade, and all that money's in motion."
Read the full article on American Banker