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Introducing: Impact IRAs

If you, like 55 million other people in the US, have embraced your role in the gig economy, you may have noticed how tough it is to save for retirement.

Without a company automatically pulling money from your paycheck, it’s easy to put it off for another time. Enter the IRA.

By putting away the maximum contribution of $5,500 per year for 20 years, you will have saved $110,000 – thanks to the magic of compound interest, you could have an extra $20,000. That number comes from an assumed 5% rate of return on $333 monthly contributions over 20 years. Play with the numbers on this extremely useful calculator yourself to see what you could stand to earn.

Investing in your future is a good thing, that’s a no brainer. But where do you put that money? We’ve recently introduced Impact IRAs to our line of products to make the decision a little simpler. Save for your future self and invest in companies creating good in the world – the true marriage of purpose and profit.

Topics: Portfolios

Nicole White

Nicole White

Nicole White is Swell's Copywriter and Content Strategist. Her passion (however boring) is personal finance; she has a unique knack for simplifying the complicated through wit and accessibility. Originally from Pittsburgh, she moved to LA with her family about two years ago and loves it. She's excited to be a part of a team that is actually making a difference through innovation and elbow grease.

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