Pub. 2 2012-2013 Issue 6

8 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S FEATURE ARTICLE “IRA marketing efforts focused on the individual—based on their generational demographic—will benefit both your clients and your financial organization.” IRA Marketing Focused on the Individual M uch of the market ing focus this year when it comes to IRAs is on the higher IRA contribution limits. For 2013, the IRA contribution limit is $5,500, up from the previous $5,000 limit. This is good news for baby boomers socking away money for retirement, but for young mil- lennials just starting out, making a $5,500 IRA contribution may be out of reach and such a marketing campaign may appear out of touch. Targeting the right message to the right audi- ence is key. Remember, the “I” in IRA stands for individual. IRA marketing efforts focused on the individual—based on their generational demographic—will bene fi t both your clients and your fi nancial organization. Young millennials, members of genera- tion X, and baby boomers are all at different stages in their lives, and just as their lending needs are different, so are their retirement savings needs. And while they share the same generational demographic and retirement sav- ings characteristics, their retirement savings needs are as individual as they are. For young millennials, many of whom have recently graduated from college and are just getting started in the workforce, saving money DENNIS ZUEHLKE Compliance Manager Ascensus