Apparently Bank of America thinks it’s time for you to get serious about your retirement savings. To drive home their point, they want to scare you… with your own face. No, it’s not a belated Halloween trick. The banking giant has created Face Retirement, an application that ages your face. Want to know what you’ll look like in 2062? Face Retirement can show you.

Bank of America has decided that this in-your-face tactic – pun intended – is a necessary evil. Statistics show that more than half of the American workforce has less than $25,000 currently stocked away in savings, which in many areas of the country won’t adequately cover a single year of retirement. Because Americans have no money to retire, they’re forced to work into even older age. Just recently CNN reported that many workers are putting off retirement until their 80s. Hence, Bank of America’s mission to get more people saving for retirement at a younger age.

Granted, the last few years have not been kind to most 401K plans and other saving accounts. But Bank of America believes that the root of this retirement savings shortage isn’t about sporadic economic recessions, but rather young people not fully understanding what it means to get old, which is why they don’t bother to save for their golden years. The application’s intent is to get younger Americans to realize that, yes, old age comes to us all. Because it can be hard to visualize ourselves at 60, 70, and 80 years old, the bank thinks that showing an image of our older selves might just do the trick to convince people that it’s never too early to start saving for retirement.

What do you think? Could a picture of yourself 50 years into the future persuade you to take your savings seriously? Are you already stocking away your savings, or if not, when do you believe is the right time to start saving for old age?

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