Bay Area Company Turns Everyday Shopping into Additional Retirement Savings

    BERKELEY, CA, December 15, 2016 /24-7PressRelease/ — A little over two years old, innovative earnings platform EvoShare is already making waves. EvoShare’s unique system of allowing users to earn towards their retirement whenever they shop at a partnered business was born out of the nation’s need for a smart cash-back service that could efficiently help Americans save for the future. It has already caught the attention of entities like Kohls, eBay, Macy’s and the San Francisco Chamber of Commerce.

The way EvoShare operates is simple. Individuals join EvoShare free of charge and shop as usual. Every time they spend at an Evoshare-partnered location, EvoShare places a percentage of what they’ve spent — determined by that location — into their retirement account.

“Evoshare’s earnings are not the traditional cash-back rewards that people readily spend,” says Eugeny Prudchyenko, EvoShare’s CEO, “Unlike most cash-back programs, EvoShare’s cash-back earnings are allocated towards users’ compounding, retirement accounts or college debt payoff. We’re proving that it’s better to receive a 2% cash-back that grows with time than a 50% cash-back that would be spent tomorrow.” For those enjoying today’s traditional cash-back on credit cards, EvoShare can serve as an added bonus. All EvoSavers need to do is link their card and retirement account, and shop as usual.

For many users, this benefit is both innovative and pragmatic, as 1 out of 3 Americans have virtually nothing saved for retirement. Moreover, TIME magazine notes that nearly 75% of Americans over the age of 40 are falling behind on saving for retirement and struggling to catch up. Even worse, this crisis of Americans not having enough for retirement only empowers economic inequality. A Brookings Institute reports notes that government pension tax subsidies overwhelmingly favor wealthier Americans while doing very little to help low income earners. Even with policy in place, many Americans are still struggling to build a future they can afford.

It is in this struggle that EvoShare is helping Americans thrive. By partnering with local businesses and quality online vendors, EvoShare is helping many increase their expected retirement savings by over $100,000 and changing how they view retirement — just by rewarding them for doing their daily shopping. Businesses, particularly small ones, also benefit immensely from working with EvoShare, as EvoShare users become loyal patrons for years to come.

EvoShare‘s mission is to create an ecosystem of businesses, employers, and individuals that grow our local and national economy. At the core of this ecosystem is innovating not only how people earn from spending, but also innovating how people view their retirement: not with fear but with hope.

Click here for EvoShare retirement video.