Nearly 1 in 3 people near age (28%) think they’re more likely to learn Bigfoot is real than to save enough to retire comfortably, according to recent survey findings detailed in an AARP and the Ad Council statement released last week. The statement announced the release of new public service advertisements (PSAs) and resources on AceYourRetirement.org, to assist older American’s to save for their retirement years.
Seven in 10 Americans (68%) approaching retirement have less than a year’s income saved for retirement, says the Washington, D.C.-based National Institute on Retirement Security, revealing that person’s age 60 and over are not saving money for retirement. The new PSAs, released on January 9th, make saving for retirement less intimidating to these aging baby boomers by evoking the nostalgic and playful tone of children’s educational TV shows from the 1970s and ‘80s.
“Knowing how to save for retirement is as fundamental as learning your ABCs,” said Lisa Sherman, President and CEO, the Ad Council. “By bringing creativity and humor to an issue that often seems daunting, we hope to inspire more people to take charge of their financial futures,” she added.
Giving Older Adults Confidence to Save
The PSAs introduce viewers to “Avo℠,” the digital retirement coach from AceYourRetirement.org. By offering a first-of-its-kind interactive chat experience, the website is designed to give older adults confidence and to take action in saving money for their retirement.
“We know that the prospect of starting a retirement savings plan can be confusing and cause anxiety for some people,” said Debra Whitman, Executive Vice President and Chief Public Policy Officer at AARP. “That’s why this campaign, its public service announcements and the AceYourRetirement.org website have been so effective. They help people by breaking down retirement savings into simple steps that are easy to follow,” she says.
The national PSA campaign was created pro bono by media and creative agency OMD Create, leveraging their new model of planning media strategy and developing creative work in tandem. The PSAs will appear in donated media nationwide in TV, digital, out of home, radio, print, and social-optimized video formats. The music for the TV and radio spots was composed by Gary William Friedman, music director of “The Electric Company.”
“Translating the style of nostalgic educational programs into content and formats for today’s social and digital platforms was easily one of the most inspiring challenges we tackled in 2018,” said Kerry Perse, Managing Director, OMD Create. “We are thrilled with the output and grateful for our collaboration with the Ad Council and AARP,” he said.
Creating a Personalized Retirement Savings Plan
AARP and the Ad Council’s “Saving for Retirement” campaign launched in July 2017 and the national PSAs have since received over $37.5 million in donated media support. Hundreds of thousands of people have chatted with Avo on AceYourRetirement.org, resulting in more than 189,000 personalized retirement savings action plans.