Ever wonder how you compare to other people your age in terms of how much you’ve saved for retirement?
Good news! There’s an app for that.
Voya has come up with a new app you can use to see how you rank against others when it comes to money matters.
Visit compareme.voya.com to give it a test drive. (Voya is the new name for ING, the online savings bank).
“People are curious to know how they stack up to their counterparts, and a tool like CompareMe can provide a helpful benchmark,” said a Voya spokesman.
Over two million people have logged in since the app was first rolled out. What’s appealing about the CompareMe tool is that can actually measure how you’ve done against others of the same age and income bracket on a wide range of saving, spending, investing, debt and other personal finance matters.
That may motivate some people to do more to prepare for retirement.
Voya’s research shows that more than half of Americans say they would feel inclined to put more money away for retirement if their savings were overshadowed by those of their peers.