Following the completion of its extensive research, focus groups, and with the help of numerous consultants and thought leaders on aging and retirement, McMullen Development through its associated company Wisdom Ventures LLC, has developed and will launch in the fourth quarter of 2013 a product to be named “The Wisdom Navigator”. This announcement was made Jan. 30th following the completion of the strategic review process done annually.
All research by McMullen Development and Wisdom Ventures as well as Bank of America / Merrill Lynch, Harris Interactive, Age Wave and others on the aging population in the U.S. with focus on the 78 million “Baby Boomer” cohort, leads to one principal conclusion:
“This Cohort is the healthiest and wealthiest generation in history, but also substantially unprepared for their expected longevity and related retirement; they are simply overwhelmed by the planning process”
The Wisdom Navigator will serve this large and growing market to assist all recently retired and pre-retirees in preparing for and planning their retirement. The theme of “Dream – Plan – Live” has been adopted:
The Navigator will become the first to market with a self-directed, personalized, and free service to its users. It will provide a comprehensive set of automated, on-line financial dashboards, budgeting tools, and individualized and personal content aggregation all designed to assist the users to enhance their life and plan for retirement. It will offer a personalized expanded breath of products and services beyond financial dashboards to a broad range of guides and content on the topics of, health and wellness, employment, volunteerism, travel, and where to retire.
The mission and goal of the Navigator is – “To become the trusted advisor and relied upon resource to professionally guide its users in the next phase of their lives and into retirement.”
The Wisdom Navigator target audience is looking forward to their “bonus Years”, and planning for the opportunities that lay head. However, many don’t know what to expect or how to successfully manage a long, complex and ever-changing retirement. The well-publicized increase in longevity of life also brings worries about outliving their money, their health and health care cost, their dependence on family, their long term quality of life, and the potential of being isolated and lonely. All of these concerns are real and universal. The Navigator will become an indispensable resource and thought leader to help its users to more fully understand these challenging questions, critical issues, and as a tool to gain clarity of the possibilities and risks. The Navigator will also be a much needed tool for users to stay current and updated on their individual plan and to assist them in making needed course corrections as circumstances change.