We believe all Americans should retire with enough money for a life of dignity.
In a society of significant wealth, too many people spend their post-retirement lives in financial insecurity or near-poverty. While some of this is driven by low incomes and a weak safety net, we believe a huge contributor is that people are asked to make complex financial decisions on their own. We envision a world where people don’t have to think about their retirement finances because we’ve handled it for them.
Saving for retirement is hard because our current system was not well-designed.
Companies which once provided generous pensions to their long-tenured employees no longer do so and the Federal government never designed a system to fill the void. Instead, we evolved a fragmented model where people might be offered an employer-sponsored account like a 401k. Since these accounts are not portable, individuals are forced to change them when they change jobs — on average, every 3-4 years. This creates significant friction for the saver and plenty of opportunities to do the wrong thing. It also creates a burden on employers. We believe there’s a long-term role for us in fixing (or replacing) the employer- sponsored system over time.
People can get taken advantage of by unscrupulous intermediaries.
We believe there are plenty of good financial institutions and advisors and we work with many of them. But there are unfortunately still many intermediaries who extract high fees that erode our collective savings over time. This makes it even harder for people to accumulate enough money for a dignified retirement. We intend to help savers use those intermediaries who put their customers’ interests above their own and encourage more institutions to do the same.
We reject false trade offs.
We believe we can help our users and make profits, rather than profiting at their expense. But if there’s ever a conflict, then we choose helping them — every time. Life’s too short to make a buck at the expense of people who trust you. We do this both because it’s the right thing to do and because over the long-term we believe customers will reward us with their trust.
We want to build a great company — not just an average one.
We’re driven by the desire to create a high-performing institution where people feel proud to work and challenged to excel. We believe we can do this while having great relationships with our colleagues — and having fun.
More of what we believe in.
A bias to action
We move fast because we recognize that speed will be a huge determinant of our success or failure. We’re resourceful, and we don’t wait for things to be served up to us on a platter. We rely on our own initiative to make rapid progress.
We are selective about what goals we tackle and we are process-driven about how we tackle them. We implement organizational habits and follow them because we believe institutional habits drive high achievement over time.
Dedicated to the customer
We do what’s right for all customers. We don’t distinguish between a customer with $500 in their account or $500,000 – we work hard for each and every one of them. We’re honest with them and get things done for them, no matter what the obstacles.
A sense of ownership
We think like owners. That means giving people the power to make decisions and be accountable for their work. It also means thinking like a business owner. We don’t bring up problems without proposing solutions and we enjoy being judged by our results.
We don’t always have the right answers, but we’re trying to get them. We’re data-driven and objective in doing so. We admit when we are wrong. We engage in respectful debate. We never let our individual egos or desire to seem smart get in the way of making the right decision.
Willingness to run experiments and make calculated bets
We think of our work scientifically. We develop hypotheses and we run experiments. We learn from mistakes and we progress iteratively. We’re also willing to make bets where our downside is limited but our upside could be significant. These small bets often turn into large opportunities, even though it’s hard to know which of them will pay off in advance.
Ambitious and optimistic
We relish taking on big hairy goals, even if it’s not clear at the outset how we’ll get there. We’re optimistic about the future and about our own abilities. If we break things down and back ourselves, we can achieve almost anything.
Life’s too short to not have fun. We celebrate the wins, even the small ones. We surround ourselves with people who are fun, laugh, and are energetic.
Long-term and persistent
We’re in this for the long-term. We’re going to get kicked in the teeth every once in a while, and we’ll experience failures. Some of them will hurt. We may have to reassess our path, but we don’t give up on the mission.
We’ll never compromise on integrity.
Want to join our team?
We’re growing our team across key roles and looking for talented, like-minded people to join our mission.