Introducing Matchly: Financial Health & Freedom at Your Fingertips
“Wealth is the ability to fully experience life,” said Henry David Thoreau.
When you think about wealth-building, you may picture a Scrooge-like figure piling up cash, meticulously counting every penny.
I think that’s the wrong way to think about it.
I believe, like Thoreau, that true wealth is the ability to make the most out of our one, precious life.
This can include many things: family, friends, belief in something that gives your life meaning, and, of course, your health.
But what is “health” exactly? I think it consists of three major components:
- Physical health. This has been a huge industry for a long time and is constantly innovating: from gyms to at-home workouts like Peloton to apps like Noom.
- Mental health. Apps like Headspace and Calm have brought mental health into the mainstream, which provides numerous benefits for consumers (myself being one of them, as I’ve been meditating for years).
- Financial health. Being in a tough financial situation causes stress and depression, and can even lead to physical illness. According to Forbes, financial stress costs the US economy $500 Billion (with a “B”) every year.
At its core, financial health is about living life on your terms.
It’s the ability to envision your dream life, and the financial freedom to turn it into a reality.
The Matchly Story
Have you ever asked yourself any of the following questions?
How much money am I spending per month? How much can I afford to spend?
When do I need to start saving for retirement?
How much should I be saving each month?
How should I invest those savings?
For most of my working life, I’ve struggled with financial planning. I’ve asked many of those questions, and more, many times.
Maybe you’ve been in a similar situation. As a solution, you could be seeking advice from a local banker or financial advisor. However, you may wonder whether these people have your interest in mind, or whether they’re trying to sell you something.
What’s more, you may also see a lot of financial advice pop up on social media, but aren’t sure what’s reputable and what’s correct.
So, instead of making progress toward a stable financial future, you do nothing.
I don’t know about you, but I hate doing nothing.
That’s why we decided to do something about it and start Matchly.
While we’re a financial health company, our vision is so much bigger than that. We view financial health as a key to the ultimate goal: financial freedom.
Ultimately, we want to see more people build financial freedom and live their dream lives.
We know that this is a tall order. And we know that we’re not alone in this space.
The financial industry has seen plenty of innovation over the last decade. Investors have poured billions of dollars into FinTech companies, trying to make it easier for consumers to manage their finances.
But even with all this investment, 2021 data from Debt.com indicates that 61% of consumers use pen & paper to create budgets. Only 17% use spreadsheets, and 10% use a mobile app.
Not only that, but these technologies don’t seem to be improving people’s lives. 40% of Americans don’t have the funds to handle a $400 emergency, only 29% of Americans describe themselves as financially healthy.
Clearly, things need to change. So here’s what we plan to do.
Our First Product: Empowering People to Claim Employer 401(k) Matches
One of the most striking statistics surrounding personal finance is that 1 in 3 Americans have no money saved for retirement. Employers attempt to incentivize retirement saving by matching contributions to retirement plans, but it doesn’t work.
Every year, billions of dollars are left on the table (we estimate roughly $30 billion today) because employees don’t contribute to their plans and, consequently, don’t receive those matches.
Many of the reasons that employees fail to contribute to their 401(k) plans include:
- No awareness of the opportunity
- Expenses are too high to afford the contribution
- Lack of long-term foresight
- High levels of debt
As we begin our journey, we believe this is the best place to start.
Our first product, Matchly, will help customers get that employer match without having to compromise on their life today. By providing customers with the ability to contribute and gain their match, we enable them to do the best thing possible to save for your future.
Join Us On the Matchly Journey
When it comes to our vision, the following quote sums it up quite nicely:
"Real wealth is not about money. Real wealth is: not having to go to meetings, not having to spend time with jerks, not being locked into status games, not feeling like you have to say ‘yes,’ not worrying about others claiming your time and energy. Real wealth is about freedom."
That’s what we want to provide: financial freedom.
How Matchly Can Help
Matchly allows you to get all of your 401(k) employer match, without taking a cut out of your paycheck
Get your full 401(k) match
Get up to thousands of additional dollars every year from your employer starting with your next paycheck
Enjoy your full paycheck
Matchly finances your 401(k) contributions for you, so you don’t have to take a cut out of your paycheck to get your match.