Page 3 - iOme Challenge

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70%
of iOme
participants are saving
for retirement! The
national average in
this age group is 55%.
In 2014, more
than
23,000
people watched
iOme Money Smart
Week Videos.
In 2014, iOme
received an Award
from the Governor
of Wisconsin in
recognition of
our work.
Impact
Participants in iOme programs
come from all walks of life and
from all parts of the United States.
They are students at private and
public, small and large, Ivy League
and community colleges. They
represent more than 15 majors
and all socio-economic and
racial groups. 81% of them have
annual income of less than $15,000
and 57% of participants have
been women.
Furthermore, because of
participation in our programs…
90%
of college participants
indicate that their understanding
of the importance of personal
savings has significantly (64%) or
moderately (26%) increased.
87%
are much more (58%) or
moderately more (29%) likely to
save for retirement.
82%
report an increase in their
understanding of the national
impact of personal savings.
78%
report an increase in their
understanding of the impact that
personal economic decisions can
have on their lives.
46%
are likely to consider working
in the financial services industry.
Who are “The Millennials?”
Millennials, or Generation Y, represent the demographic cohort that followed the
Generation X. Although there are no precise dates when this generation starts and ends,
researchers have used birth years ranging from the early 1980s to the early 2000s.
I participated in
iOme Challenge
through my class at
Virginia Tech. At that
time, I already knew
the importance of
saving for retirement
because I watched
my grandmother
struggle with finances in her later years.
She married a poor farmer who was
16-years her senior. She acted as the
quintessential farmer’s wife, worked
very little outside the home, and did
not save enough. Out of necessity, she
worked through her 60s and 70s, and
when she finally retired she could not
afford heating oil or new hearing aids
and had to move out of her home. Her
situation left an imprint on me, but it
wasn’t until I became involved with
iOme that I realized how few people save
adequately for retirement. iOme gave me
an opportunity to do something about
this. I have been able to engage my peers
to come up with solutions and speak with
decision-makers in Washington. I actually
felt like our generation’s ideas were
being heard by those in power…this is
something that could not have happened
without iOme.
Allison Perdue Meeder
iOme Challenge Winner ‘11-12
Allison’s Story...