What The Press Is Saying

Why target millennials when retirees have all the money?

United Income aims to be different from other robo-advisors by offering more than just a chance to grow a nest egg. It also wants to help retirees turn their assets into retirement income and provide extra services, such as advice on Medicare, Social Security and how to minimize tax exposure. The government-facing part of United Income’s platform was built with the help of former government officials, who know the system inside out.

Retirement-income theories confront reality: Latest robo-adviser challenges rule-of-thumb approaches

Deploying huge data sets on investment performance, retiree spending, longevity and other crucial factors to simulate millions of outcomes, the United Income software estimates the chances that each client's personalized retirement strategy will actually succeed, then refines the plan if it won't. Its retirement paycheck feature aggregates a client's varied income sources into a monthly disbursement and reviews the appropriate amount every six months.

United Income Launches Robo Aimed at Older Investors

The new platform, which apparently has already attracted $200 million during its beta stage, comes with a 0.5% annual fee for “self-service financial planning,” including investment advice, according to the press release. The robo includes budgeting and spending features, recommendations on when to retire and claim Social Security and a feature that determines which account to withdraw money from for tax efficiency, United Income says.

Your Evening Briefing

Now comes United Income, a new money manager backed by some of the biggest names in retirement, pitching big data as a solution. It’s deploying huge sets of stats on investment performance, retiree spending, longevity, and other crucial factors to simulate innumerable outcomes…United Income’s approach could be a big step forward in retirement planning.

Finally, a Retirement Calculator That Might Help You Retire

Now comes United Income, a new money manager backed by some of the biggest names in retirement, pitching big data as a solution. It’s deploying huge sets of stats on investment performance, retiree spending, longevity, and other crucial factors to simulate innumerable outcomes. The software estimates the chances that each client’s personalized retirement strategy will actually succeed, then refines the plan if it won’t, based on as many as 18 million simulations per client, UI said.

This Is Not Your Child’s Robo: New Service Targets Older Investors

United Income—which launched Monday with backing from Morningstar, Inc. MORN 1.31% and eBay Inc. founder Pierre Omidyar —has a “core focus on people ages 50 to 70 who are approaching retirement or are already retired,” says Chief Executive Matt Fellowes, whose resume includes a stint as Morningstar’s chief innovation officer.

Baby Boomers Get Their Own Retirement Robo – And A Pitch To Spend More

Say this for Fellowes: he’s built an intriguing platform with just $5.8 million in seed capital and recruited an impressive staff, in part from Morningstar itself. Moreover, capitalizing on his Washington, D.C. base and contacts, he’s signed up an all-star team of expert advisors.

This advisor wants to help with spending, not saving

One [United Income] feature that may have the greatest appeal is the "Retirement Paycheck" which aggregates different retirement income streams to simulate a monthly paycheck, so retirees know how much they have to spend and can budget to that amount.

Morningstar-Backed Robo Aims at Older Clients

United Income, backed by Morningstar and eBay founder Pierre Omidyar, focuses on those ages 50 to 70 who are approaching retirement or retired, says CEO Matt Fellowes…The Washington, D.C. startup aims to help retirees turn their assets into retirement income. It offers advice on when to claim Social Security, which Medicare plans to buy, and how to tax-manage withdrawals from different accounts.

Latest digital launch: Amped advice for the new retired class

Instead of standardized expectations of mortality and income, United Income relies on the power of big data and proprietary algorithms to develop personalized plans….In so doing, it builds individualized forecasts for clients to determine further lifestyle spending and essentials, rather than relying on income replacement ratios alone.

News Highlights: Top Financial Services News of the Day

United Income is launching a new robo advisory service targeting older investors.

United Income Launches New Money Management Solution for Retirees, Challenging Current Financial Planning and Investment Management Approaches

(Press release) United Income, an independent money management solution aimed at people nearing or in retirement, today announced the launch of its web platform and new money management approach for consumers. By combining new technology, new data, and human advisers, United Income offers holistic financial planning and investment management aimed at extending the life and potential of money.

The downside of seniors spending less to save more

A recent report by United Income found that Americans age 60 and over reduce their spending by about 2.5 percent per year.

Older Americans Too Cautious?

Innovations in medicine and technology have extended human life by more than 30 years since 1900, which has helped to double the time the average adult now spends in retirement compared with several decades ago, notes Matt Fellowes, CEO of United Income, in a report.

How digital wealth upstarts can succeed

Matt Fellowes, former HelloWallet founder and CEO, is launching a new digital retirement savings management platform, United Income. Fellowes, who was also chief innovation officer at Morningstar, talks about the lessons learned from launching one digital startup and what steps incumbents must do to transition to a digital-first market.

One way to finance the golden years: Retire abroad

With older Americans increasingly responsible for their own financial security, workers are becoming steadily more pessimistic about their future economic prospects as they approach retirement age, according to a study by United Income, a startup that aims to apply big-data analysis to financial planning.

Readying for robos? A checklist for asset managers

But there’s plenty of reason to be critical of how the asset management industry’s embrace of digital has developed, says Matt Fellowes, former HelloWallet founder and CEO, who is launching a new digital retirement savings management platform, United Income…He outlined several steps incumbents will have to take in an interview.

Why retiring in America has become less appealing

“The big problem is that we are living longer and retiring earlier,” said Matt Fellowes, chief executive of United Income, a registered investment adviser that specializes in retirees.

The US is losing ground when it comes to retirement security

And as they approach retirement age, older Americans are becoming steadily more pessimistic about their future economic prospects, according to a separate study by United Income, a startup that aims to apply big-data analysis to financial planning.

Why regulation doesn’t have to mean restriction

Elizabeth Kelly, chief of staff at the United Income advisory firm in Washington D.C., called data portability critical to innovation…Streamlining the process to roll over 401(k)s would also help retirement planning, she says, calling it a “problem we should be able to solve.”

The era of AI in advice is upon us

One of the biggest moments of the day for me was Hello Wallet founder Matt Fellowes, the man behind the United Income business which aims to transform retirement income. The service makes it simple to understand how clients are doing then build and achieve financial life goals.

Hey, retirees: Go and spend some money

"Go spend some money" was my message...And based upon the report "Living Too Frugally? Economic Sentiment & Spending Among Older Americans," by Matt Fellowes, CEO of United Income, it's probably appropriate for a lot more people.

About 57 million Americans have no emergency savings

Older Americans have also become steadily more pessimistic about their economic prospects, according to a separate study by United Income, a start-up that aims to apply big-data analysis to financial planning.

Why Retirees Shouldn’t Shun the Stock Market

Americans age 65 and older were less likely than all other age groups to believe that the stock market would rise each year between 2002 and 2014, according to a recent study by United Income Inc., a registered investment advisor that serves retirees.

How to spend your money in retirement without dying broke

Americans are leaving increasingly larger sums of money behind, according to new research from Washington, D.C.-based advisory firm United Income.

Are You Preventing Yourself From Having Your Dream Retirement?

Overly negative viewpoints toward the future may also create self-fulfilling economic problems if they lead to an overly aggressive fixed-income portfolio. To assess these possibilities, we at United Income (a new money management system designed to bring retirement dreams to life) analyzed consumer sentiment and spending data.

What They Won’t Tell You About Retirement

In the United States, the average American over 60 reduces the amount they spend by about 2.5 percent a year, according to United Income, a financial planning software company.

Adults increasingly less optimistic over financial well-being, study says

According to a recent study by United Income, a startup financial planning service, adults are becoming less optimistic about future economic growth and financial health as they age.

Not saving for retirement tops Americans' greatest regrets

Older Americans have become steadily more pessimistic about their own future economic prospects, according to a separate study by United Income, a startup that aims to apply big-data analysis to financial planning.

Frugal retirees ditch 4% rule, hoard savings instead

Retirees may be overly pessimistic about their future financial health and that may lead them to spend less than they could otherwise, according to a new study by United Income, a startup that aims to apply big-data analysis to financial planning.

Spend it if you got it: How frugal retirees impact all of us

As outlined in [Matt Fellowes’] recent report analyzing data from two University of Michigan surveys sponsored by federal agencies, the average adult aged 60 years or older will trim his or her spending by about 2.5 percent every year, or approximately 20 percent over a 10-year period.

Parents don’t be too proud to beg and plead. Cry if you must. Just get your college graduate to start saving for retirement now!

“The average retired adult who dies in their 60s leaves behind $296,000 in net wealth, $313,000 in their 70s, $315,000 in their 80s, and $238,000 in their 90s,” according to a United Income report.

Sometimes, retirees are just too frugal

Matt Fellowes, CEO of United Income, offered this decline in optimism as one possible explanation for the drop in spending as retirees age.

Older Americans Are Less Confident in Stocks -- and That's a Problem

According to a newly released study by United Income, between 2002 and 2014, the average older adult thought the stock market had a less than 50% chance of increasing on an annual basis -- even though most major indexes increased in all but two years during this period.

This week in money

The average American over the age of 60 cuts spending by 2.5 per cent per year, or about 20 per cent over a 10-year period, according to an analysis of University of Michigan survey data by financial planning software company United Income.

We Know Where All the Money Is Hiding

Retirees who are usually expected to spend that hard-earned nest egg are instead cutting their spending and living frugally, according to a University of Michigan survey analyzed by software company United Income.

Is there really a retirement-savings crisis in the US?

A new study by United Income considers the question from a different angle. It suggests that, due to a pessimistic economic outlook, retirees are simply living more frugally — and leaving behind significant financial assets at death.

Local news coverage on Fox affiliates

A new report from the investment company United Income says the wealthiest 25% of retirees are sitting on their money.

Pessimistic Investment attitude harms Retirees

According to Matt Fellowes of United Income, the benefits of living longer lives, and the relief that comes with retirement could be lessened if older households become overly cautious concerning spending and investing with the onset of age.

WSJ Wealth Adviser Briefing: Retiree Pessimism, Benchmarking for RIAs

…for those who have saved diligently, “they are not enjoying retirement in the way they should,” says Mr. Fellowes, who plans to launch an online financial advisory service aimed at people 50 and over this summer.

Why rich retirees are so reluctant to spend their money

Financial planners need to help retirees realize they have a “cognitive bias” that makes them too gloomy about the future, said United Income's Mr. Fellowes.

Frugal retirees ditch 4 percent rule, hoard savings instead

Retirees may be overly pessimistic about their future financial health and that may lead them to spend less than they could otherwise, according to a new study by United Income, a startup that aims to apply big-data analysis to financial planning.

The Psychological Reason Older People Spend Less

…for those who have saved diligently, “they are not enjoying retirement in the way they should,” says Fellowes, who plans to launch an online financial advisory service aimed at people 50 and over this summer.

American retirees are hoarding their cash and many are even RICHER in their 80s than in their 60s

These findings were reported in a study by the University of Michigan, which conducted a survey in conjunction with United Income, a financial planning software company.

Fear Keeps Older Americans from Experiencing Dream Retirement

Innovations in medicine and technology have extended human life by over 30 years since 1900, which has helped to double the amount of time the average adult now spends in retirement compared to several decades ago, notes Matt Fellowes, CEO of United Income in a report.

Are Older Americans Being Too Cautious With Saving and Spending?

Despite retirement industry suggestions that Americans should draw down less income in retirement, Fellowes’ paper suggests older Americans are not spending enough to live their retirement dreams.

Retirees Are Too Pessimistic on Their Investments—And It's Costing Them

Younger cohorts consistently had more faith, according to a study from United Income, a company developing money-management services for older Americans.

Rich Retirees Are Hoarding Cash Out of Fear

Millions of Americans are living too frugally, said Matt Fellowes, United Income’s CEO. Retirees are entering their 80s richer than they were in their 60s and 70s.

How Millions of Aging Baby Boomers Could Bust the Economy

New research by United Income, an investment advisory service in Washington, D.C., shows that Americans’ pessimism and unease about the state of the economy and their own future financial well-being grows the longer they live.

Why Retirees Cut Back on Spending: A Growing Pessimism, It Seems

But for those who have saved diligently, “they are not enjoying retirement in the way they should,” says Mr. Fellowes.

Six common myths that can mess up your retirement

Spending can vary by 50 percent or more per year for retired households, according to research by Matt Fellowes, founder and CEO of United Income, a startup that aims to apply big-data analysis to financial planning.

63% of workers say they will need less than $1 million for retirement

“Just like past stock performance does not predict future stock performance, past spending does not predict future spending,” Fellowes said.

Retirees, Automate Your Spend-Down Plan

United Income will help retirees build portfolios of bond ladders, deferred annuities and other investments; tell them which accounts to tap first; and send them a regular retirement paycheck.

HelloWallet Founder Matt Fellowes Has a New Financial Services Startup

“Ads for retirement finances spend most of the time talking about saving for retirement, not managing money for retirement,” Fellowes said. “It’s a very different problem for people.”

He sold his first local financial startup for $52.5M. Now he’s launching another in D.C.

Fellowes launched financial services startup United Income in D.C. this week to provide financial planning and money management services to the people who need it most — the ones switching to fixed incomes and at the start of drawing down a lifetime of savings.

Fintech Startup Aims to Help Boomers Manage Retirement Income

Fellowes promises United Income will integrate all sources of potential income in a way current retirement planning software doesn’t.