STASH Retire Accounts Now Managed Free* for All Americans Under 25 Years Old

NEW YORK, June 20, 2018 /PRNewswire/ -- STASH, the financial platform revolutionizing how millions of Americans save and invest for their futures, today announced that all new and current users under the age of 25 can access retirement accounts with no STASH management fees*. Access to Roth and Traditional IRA accounts, free of STASH management fees, aims to empower a new generation of investors and combat the growing financial savings crisis in the U.S.

"About two-thirds of millennials^[1] - the largest demographic in the U.S. - have zero retirement savings. Most think of saving for retirement as difficult or burdensome. And, it shouldn't have to be," said Brandon Krieg, CEO and Co-Founder, STASH. "There is no crystal ball to predict where Social Security benefits will be in a few decades; and, ultimately, actions speak louder than words, so we're making it easier and more affordable to change future outcomes and build a foundation of better money habits to last a lifetime."

In an effort to give everyone the same opportunity to better their financial futures, the zero STASH fee* access will not be exclusive to those with college or school email addresses. 30% of STASH's over two million clients are under the age of 25 years old and already qualify for this program. 

Ed Robinson, Co-Founder and President, STASH adds,  "The earlier to you start saving and investing, even if it's just $5 week, the more powerful compounding returns can become. Giving the opportunity for 18 year olds to save for their futures with up to seven years of no STASH fee* access is just the right thing to do for our clients and we hope they take advantage and give themselves this head start."

The national savings rate is closer to pre-recession lows than ever before, reported by U.S. Bureau of Economic Analysis. Additionally, for the 72% of undergraduates working while in school, and one-fifth who work full time,^[2] zero STASH fee* access to Retire accounts is an easy and affordable way to kickstart their savings in a tax-efficient way.

For the 40% of working millennials who do not participate in an employer-sponsored plan,^[3] STASH Retire can alleviate the stresses of eligibility restraints and high minimums. Although IRA accounts don't replace employer-sponsored 401k plans, STASH Retire will serve as a simple, safe and educational experience to create a solid financial foundation and give millions the confidence while building wealth. 

"Zero STASH fee* access is just one piece of our head-start program. Education, geared for 18-25 year olds, will support these new investors and enable them to grow their understanding of the markets, core principles of investing, and the overall social/political landscape." says Brandon Krieg. "You don't send your kids driving without driving lessons. We have a responsibility to provide those driving lessons to our new investors. Only then will we ensure they have mastered healthy financial habits that will empower their future success."

With access to more than 70 ETFs and single stock investments, STASH Retire clients can invest for their long-term goals, using curated investments that reflect their goals and personal beliefs. STASH Retire costs $2 a month for accounts below $5,000, and 0.25% for accounts over $5,000. Clients can invest with as little as $5.

Since launch in October 2015, STASH has reached over 2 million Americans with the education, tools and guidance needed to build smarter financial habits and grow wealth. STASH Invest, the company's first product, rooted in the power of financial education, opened the door for a whole new generation of investors.

*You'll still bear fees for various ancillary services charged by the custodian and ETF expenses when opening a STASH Retire account.

ABOUT STASH
Stash is on a mission to provide all Americans with the education, tools and guidance needed to unlock their own financial opportunity. Stash simplifies and optimizes the way customers spend, save and invest their money. Clients of the Invest suite of products can choose from a selection of over 200 curated ETFs and single stocks to build personalized portfolios that reflect their investing interests and beliefs, as well as savings goals. Based in New York City, Stash launched in October 2015 by Wall Street veterans, Brandon Krieg and Ed Robinson.

Stash Financial, Inc. is a digital financial services company offering financial products for U.S. based consumers. Advisory products and services are offered through Stash Investments LLC, an SEC registered investment advisor. Stash Capital LLC, an SEC registered broker-dealer and member FINRA/SIPC, serves as introducing broker for Stash Clients' advisory accounts. Apex Clearing Corporation, a third-party SEC registered broker-dealer and member FINRA/SIPC, provides clearing and execution services and serves as qualified custodian for advisory assets of Stash Clients. Products offered by Stash Investments LLC and Stash Capital LLC are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. See our disclosures page for more information.

MEDIA CONTACT
Ally Federbush
[email protected] 
917-601-4367

^[1] National Institute on Retirement Security
^[2] U.S. Census Bureau 
^[3]  National Institute on Retirement Security

SOURCE STASH