Link Investment Management’s solutions support the workplace’s generation of tomorrow
Accepted wisdom tells us that millennials don’t care about the material world as much as their parents. Instead, they place greater emphasis on the experience—and that’s apparently not a short-term sentiment, either.
A recent Bank of America survey suggests that millennials rank retirement at the top of their priorities, above buying a house or car, getting married, or having children.
That said, there are a number of hurdles preventing millennials from affording the retirement they desire.
Financial wellness: It’s not one-size-fits-all
Credit card debt is a leading factor. This can accumulate in any number of ways, but given the associated high interest rates, paying down these debts are often given a higher priority than putting money away for retirement.
Student loans are another serious impediment. It’s quite common for millennials to not only have a university undergraduate degree, but also post-graduate education including the pursuit of masters or doctorate degrees. These additional years of schooling can be incredibly costly, and can make the repayment “goal line” for student loans much more distant.
Millennials are also choosier about the companies they work for, craving engagement and purpose and willing to go elsewhere to find it. Suffice it to say that the traditional retirement savings model—with decades’ worth of payments to a single employer’s pension plan—is a square peg in a round hole.
To get the retirement they want, millennials need to prioritize retirement saving while they’re still young. They don’t want a one-size-fits-all workplace financial wellness plan—and that’s where Link Investment Management comes in.
Embracing a shifting landscape
Link Investment Management is an innovator in the area of workplace financial wellness, and we start by embracing today’s shifting business landscape.
Link’s defined contribution (DC) LINK Multi Employer Pension Plan (ALPP), a true pension plan for small businesses, is tailor-made for today’s employers—and open to any Alberta business with two or more employees.
We’re talking tech startups, entrepreneurial organizations, IT-based businesses, altruistic employers—smaller, nimble companies without a large HR staff, and the types of businesses that attract the millennial workforce.
Personalized approach, tailor-made portfolios
Let’s face it. Very few of us are experts when it comes to retirement investment choices. Whether it’s a limited choice of branded funds, or options that don’t fit the situation, employees are often confused by their workplace retirement or savings portfolio, and don’t make the choices that are right for them.
Surveys tell us that millennials are no different—they say they need help with retirement planning, particularly with asset allocation or choosing the optimal investment vehicle.
Link’s proprietary digital platform, Link Plan Management, uses a thorough questionnaire to determine your risk profile, your investment objectives, and your situational needs–and then takes those variables and expertly matches them to a risk-appropriate, diversified investment portfolio.
Confidence in your financial future
With a lower and fully transparent fee structure, Link’s tailor-made financial wellness solutions:
- Remove employee uncertainty about what they should be investing in; and
- Remove the administrative burden from the employer.
Saving for retirement is a high-priority, long-term financial goal for millennials. Link Investment Management’s innovative solutions and personalized approach can reduce your employees’ financial stress—and instill confidence in their financial future.