The baby boomer generation, the generation that created modern technology as we know it. Baby boomers are getting ready for retirement and have a lot on their minds. The current stock market, the national and global impact on the economy, and often times, many more basic questions like where to begin. They are the first generation to be retiring without a pension and also the first generation to be living 10 years longer than their parents. In a digital world that has been focused on “millennials”, boomers, all 72M of them with 3x the spending power, are often overlooked. Plenty of data and research shows that in fact boomers, while not digital natives, are active digital consumers and as such there are massive opportunities for those entrepreneurs willing to tackle the challenge.
Kindur is a financial technology company that reimagines financial wellness for modern retirees and helps them retire fearlessly with straightforward financial advice and services. The Kindur team built the Silvur app with one goal: to help Baby Boomers make the most of their retirement savings. With a suite of interactive tools, money saving advice, and timely content, Silver offers personalized support and resources so that Boomers can live their lives with peace of mind whether they’re nearing retirement or already living it.
Look out for a new app release coming from Kindur tomorrow- its designed to help boomers navigate their new normal.
How/why did you get into your space?
I was inspired to build Kindur after helping my own parents navigate retirement. I learned that my parents had a series of very high consequence decisions to make (medicare, ssa, etc) and that the retirement advisory community hadn’t evolved to serve the complexity of the post pension world. At Kindur we’re building easy to use technology that allows baby boomers to retire fearlessly.
What role do you play in the tech ecosystem and why is that role important?
As a female founder in the fintech ecosystem, I’ve made it a priority at my company to build with diversity at our core day one. One of our core values at Kindur is that diversity is our best chance of doing things differently– and we have done this since day one with the team we have built.
How has technology impacted your industry and why is this important?
There are 72 MM Baby Boomers (the same as Millennials) and they have 3x the spending power of Millennials… but Boomers are largely ignored by the tech community due to perceived lack of tech savviness.
What do you believe is the most exciting tech trend for 2020 (as it relates to your industry)?
During the early stages of fintech we saw tremendous innovation around narrow products- lending, robos etc. Today its clear that platforms who own their customer add more value but also have viable unit economics long term.
Who is a person that inspires you in the space and why?
Our customers. Our customers are redefining what retirement in America means. And they have been redefining their entire life. Our female customers were the generation that redefined women working in America. Our customers were the first users (and builders) of modern technology… having founded companies like Microsoft, HP and Apple. And they are now redefining retirement- starting new businesses, traveling the world, investing in their communities.
What advice would you give to someone who wants to get into your space?
Know your consumer. When you work for a large company you can often find some consumers who are excited by a new product. When you start at 0 you have to make sure you are building the right solution for your customer. We invested early in user research and we continue to see it as part of our secret sauce.
Anything else we should know about you or you want to include?
At Kindur we’re super excited about building for an under served community: Americans over the age of 50. There is a view from many entrepreneurs that this consumer doesn’t leverage technology but this couldn’t be further from the truth. They are online– on Facebook- part of the sharing economy (women in their 50s & 60s are the most successful hosts on Air BNB), and redefining what retirement in America looks like. But there are differences in how this consumer navigates technology which is why from day 1 at Kindur we’ve led with user centered design. We want to build beautiful, empowering technology that gives this customer peace of mind during what we hope will be the most exciting stage of their life.