Did You Have a Baby Monday? Your Child Can Collect $500
If you had a baby yesterday (Monday, October 20) and you live in the United States, your little one is eligible for some free money, thanks to an investment company. Voya Financial is offering a free $500 mutual fund for children born on October 20, 2014 as a part of their Voya Born to Save program. As the company puts it, the offering is giving these babies "a head start toward their future retirement savings".
The campaign is a part of National Save for Retirement Week, reminding everyone it is never too early to start saving for retirement. According to Voya's information, roughly 10,000 babies are born each day in the United States, and the group of little ones born on the 20th will be able to collect the free gift from the company as a part of their effort to encourage more people to save for retirement.
The chief marketing officer for Voya hopes parents will allow the children's money to grow as a retirement investment for their babies, however the funds can be removed early to pay for things like diapers or tuition.
Parents of children that were born on the 20th will have to fill out the appropriate forms on their website prior to December 19, 2014 in order to claim the $500 fund.