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.

About

A Path to Greater Financial Security

78% of Americans live paycheck-to-paycheck. ²  The initiative will scale proven strategies and develop innovative tools that help people create savings.

Catalyzing Innovation

Led by their Social Impact team, BlackRock is supporting three mission-driven industry experts focused on financial innovation: Common Cents Lab, Commonwealth, and the Financial Health Network.³ 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.

Cross-Sector Collaboration

The industry experts are working with partners from various industries such as retail, telecommunications, logistics, financial services, and other sectors to deploy research and behavioral test-and-learns that will create products and services that make saving easier for each partner’s employees or customers.

OUR INDUSTRY EXPERTS

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[1]: “Report on the Economic Well-Being of U.S. Households in 2017,” Board of Governors of the Federal Reserve System.
[2]: CareerBuilder Survey, August 2017.
[3]: BlackRock’s support is being made via grants recommended to and paid by the BlackRock Charitable Fund, a donor-advised fund.