MassMutual Tool Provides Personal Financial Wellness Score
MapMyFinances also offers guidance to help people achieve their financial goals.
MassMutual has created a new tool, MapMyFinances, that is available for free through employers that use its defined contribution services. The tool gives each user a personalized financial wellness score and provides guidance on how they can achieve their financial goals.
“MapMyFinances is breakthrough financial wellness technology designed to help all Americans secure their financial futures and protect the ones they love,” says Tina Wilson, head of investment solutions innovation at MassMutual. “Whether you’r starting your career, preparing to retire or somewhere in between, MapMyFinances can help you make the best choices about saving for retirement, protecting your family and securing your financial future.”
MapMyFinances replaces MapMyBenefits. It arrives at the financial wellness score by asking users a series of questions about their family situation, budget and personal finances, including retirement savings, health care, life insurance and debt. To help people achieve their financial goals, MapMyFinances creates a to-do list of simple, actionable steps.
“Later this year, MassMutual will be announcing additional financial benefits and services through MapMyFinances, such as debt management, medical and emergency savings, tuition reimbursement and budgeting,” Wilson adds.