Since 1937, Putnam Investment has successfully managed money for individuals and institutions— today handling $121 billion in 5 million shareholder accounts.
How do you get 401(k) contributors to become more active in managing their accounts by turning impulse spending into impulse saving? Face it. It doesn’t matter if you’re 22 or 62, you need to plan for the future. Putnam wanted to encourage investors to put more money into their retirement fund.
We developed the Putnam PriceCheck&Save app. With it, plan participants can go into, say, Best Buy looking for a 46-inch TV. By scanning the bar code, other stores with the same product will pop up with perhaps a better price. The Putnam app will then show what putting that price savings into their 401(k) account will mean at retirement—dollars-and-cents difference in your monthly income. Then the users can make a direct transfer of that money saved, or a portion of it, to their retirement plan.
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