Helping people today save for tomorrow
Saving and planning for the future can be difficult – if not impossible – for millions of Americans who experience income volatility and lack a stable financial cushion.
To help address this savings crisis, BlackRock has announced a $50 million philanthropic commitment. Our aim is to fuel innovation that will allow millions of people living on low- to moderate-incomes to establish a stronger financial safety net. While the initiative will first focus on the United States, we plan to extend our reach starting in 2020.
A Path to Greater Financial Security
78% of Americans live paycheck-to-paycheck.  The initiative will scale proven strategies and develop innovative tools that help people create savings.
Led by their Social Impact team, BlackRock is supporting three mission-driven industry experts focused on financial innovation: the Center for Financial Services Innovation (CFSI), Commonwealth, and Common Cents Lab.  Leveraging their knowledge, networks, deep research and behavioral design capabilities, these organizations will work to expand the supply of high-quality savings options available to financially vulnerable Americans.
BlackRock intends to fund these experts to deploy their research and behavioral design capabilities to companies, ultimately bringing tools, products and services that make saving easier and more compelling to the companies’ employees or customers.
OUR INDUSTRY EXPERTS
The deadline to join the Year One cohort is May 31, 2019.
: “Report on the Economic Well-Being of U.S. Households in 2017,” Board of Governors of the Federal Reserve System.
: CareerBuilder Survey, August 2017.
: BlackRock’s support is being made via grants recommended to and paid by the BlackRock Charitable Fund, a donor-advised fund.