How to Save a Million Dollars savings seminars are aimed at helping consumers jump start their savings and offer encouragement, savings strategies and tools to help consumers maximize their savings over a lifetime. Wachovia is offering the free How to Save a Million Dollars seminars to its corporate customers and their employees across the U.S.
The 30-minute and 60-minute seminars will feature . . .
- Profiles of regular people who have saved $1million.
- Examples of the miracle of compounding interest.
- The Top Ten savings tips.
Seminar attendees also receive a savings journal from Wachovia to help track their spending and find ways to save.
"Wachovia is committed to significantly increasing the number of Americans who are saving," said Kathryn Black, Savings Director and SVP for Wachovia. "Our corporate customer relationships with businesses across the country will help us reach thousands of Americans with this message of savings education and encouragement."
"I worked with Wachovia to develop these seminars to address the key learnings from our comprehensive savings study of more than 2,000 Americans, which was released in late 2007," said Stephen Brobeck, executive director of the Consumer Federation of America, which manages the America Saves campaign. "The study showed that people would be motivated to save if they understood how saving a little money adds up over time through the miracle of compounding interest."
The study conducted by Wachovia and CFA suggested that more than half of Americans (52 percent) said that they cannot afford to save or are saving inadequately, but that knowledge of interest compounding greatly increased their optimism about saving successfully. The survey, based on 50-plus question interviews of more than 2,000 representative adult Americans, was conducted by Opinion Research Corporation in November 2007. The margin of error was plus or minus two percentage points.
About America Saves and Consumer Federation of America
America Saves is a nationwide social marketing campaign that encourages and assists non-saving Americans to save and build wealth. It has enrolled nearly 100,000 Savers and, with the non-profit American Savings and Education Council, coordinates America Saves Week. America Saves is managed by the non-profit Consumer Federation of America which, since 1968, has sought to advance the consumer interest through research, education, and advocacy.
About Wachovia Corporation
Wachovia Corporation (NYSE:WB) is one of the nation's largest diversified financial services companies, with assets of $782.9 billion and market capitalization of $75.3 billion at December 31, 2007. Wachovia provides a broad range of retail banking and brokerage, asset and wealth management, and corporate and investment banking products and services to customers through 3,400 retail financial centers in 21 states from Connecticut to Florida and west to Texas and California, and nationwide retail brokerage, mortgage lending and auto finance businesses. Globally, clients are served in selected corporate and institutional sectors and through more than 40 international offices. Our retail brokerage operations under the Wachovia Securities brand name manage more than $1.2 trillion in client assets through 17,900 registered representatives in 1,500 offices nationwide. Online banking is available at wachovia.com; online brokerage products and services at wachoviasec.com; and investment products and services at evergreeninvestments.com.
