"All these college students are getting ready to start their careers," Rose said. "They are going to start making some real money and essentially taking control of their financial futures. The Roth IRA is one of the tools at their disposal, and they had no clue what it is."
In order to remedy this situation, Rose is launching a movement to raise awareness of the Roth IRA, a retirement investment account designed to help savers take advantage of tax-free earnings. He has invited writers, bloggers, companies, and media outlets to join him on March 27, 2012 to spread the word about the Roth IRA. So far, more than 125 bloggers, financial companies, and media sites have agreed to take part.
A quarter of the participating blogs are Top 100 Personal Finance Blogs, as listed by personal finance site Wise Bread. Some of the biggest names in finances are participating in this movement. Liz Pulliam Weston, About.com (a New York Times-owned site), USAA, Phil Taylor from PT Money, Luke Landes from Consumerism Commentary, Pinyo Bhulipongsanon from Moolanomy, and many others are committed to raising awareness. Together, the participants so far reach more than 150,000 Twitter followers, and hundreds of thousands of readers.
"My hope is to not just bring awareness to the Roth IRA, but to help young adults understand the importance of saving for the future," Rose said. "Financial literacy is one of the most important aspects of a successful life, and retirement savings are vital. Hopefully, we can raise enough awareness to bring Roth IRAs into the mainstream."
Those wishing to participate are encouraged to contact Jeff Rose through his website, GoodFinancialCents.com, and commit to write about the Roth IRA, or to participate on Twitter with the hashtag #RothIRAMovement.