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Uber x betterment: flexible options to save for the future

August 24, 2016 / US

Let’s face it: Saving — especially for the long term — is tough. Whether it’s an unexpected bill or a weekend splurge, too often the money we meant to stash away for tomorrow tends to find its way out the door today. And it’s not just a few of us who find it difficult to save.

According to the Federal Reserve, nearly one–third of Americans have no retirement savings or pension. And research consistently shows that when people have access to a retirement account, they’re more likely to save than not.

That’s why we’re excited to announce a partnership with Betterment, the largest independent robo-advisor, to offer flexible retirement accounts with no fees for the first year exclusively to people who drive with the Uber platform.

Starting today, drivers in select cities can use the Uber app to open a Betterment IRA or Roth IRA for free for the first year. People who drive with Uber can get started with no minimum account balance, and Betterment’s team of experts is available seven days a week to walk investors of every skill level through every step of the investment process.

“I love being my own boss,” said Gary K., who drives with Uber in Seattle, Washington. “The ability to save money and invest in my own future and retirement through the app is just awesome.”

This offer is available to drivers in Seattle, Boston, Chicago and New Jersey, and we plan to work with Betterment to roll it out nationwide soon as part of our Driver Rewards program of rewards and discounts, available exclusively to people who drive with the Uber platform.

“Saving for retirement is a tough task for many working Americans, including those who are self-employed or starting their own business,” said Eli Lehrer, President and Co-Founder of the R Street Institute. “This partnership is an example of how on-demand platforms like Uber can play a constructive role in connecting people to new options to save for the long-term and control their financial futures.”

With Uber, you can push a button and get work. And now, drivers can use the same innovative app that gives them complete control over their time and schedule to have the opportunity to take control of their financial future as well.