A Micro-Investing App Is Debut by FutureMoney to Assist Families in Securing Their Financial Future

FutureMoney, a FinTech company established by industry veterans, has introduced a new micro-investing platform designed to assist families in building generational wealth, as outlined in Fintech Global. This innovative app allows parents to create accounts for their children, set financial goals, and establish recurring deposits with minimal weekly investments.

The platform addresses a market gap for parents seeking accessible ways to save for their children’s futures. By leveraging compounding returns and tax advantages, FutureMoney aims to provide financial security and comfort to families of all income levels. The app offers fully managed portfolios, automated deposits, and tax optimization, simplifying the saving and investing process for the average family.

A standout feature of the platform is the Junior Roth IRA™, a tax-advantaged account that transitions from a 529 plan to a Roth IRA after 15 years. This service allows contributions of up to $35,000 per child, growing tax-free into retirement savings.

Philip Barrar, CEO and founder of FutureMoney, highlighted the company’s mission: “We’re the first generation that is financially worse off than our parents, and we’ve seen firsthand the hurdles new parents encounter when trying to determine the best way to save and invest in their children’s future. Our goal with FutureMoney is to give moms and dads at all income levels more confidence and comfort, knowing they’re providing financial security for their kids regardless of what happens later in life. We want to give parents options and make investing more inclusive.”

Co-founder Dave Fortin, CFA, emphasized the long-term impact of early investing: “If a parent invests just $10 a week from their child’s birth to age 18 and then leaves it to grow for 50 years, their child could have a $1 million nest egg, assuming 8% compounding annual returns. Investing early changes lives. As a father of twins, I’m excited about the potential of the Junior Roth IRA and we are confident it will transform the way families save.”

This new app from FutureMoney promises to revolutionize family savings and investment, making it easier for parents to secure their children’s financial future.