OpenIDEO is an open innovation platform. Join our global community to solve big challenges for social good. Sign up, Login or Learn more

Profile

Recent contributions

(2)

Contribution list

Teams

(1) View all

Recent comments

(2) View all
link

Jordan commented on Use Gambling to Encourage Saving

Hey Kate! Sorry for the delay. It looks like the accounts do pay interest: 

"When you Save to Win, you not only get a chance at winning $5,000, but you walk away with the deposits you made over the year – plus interest. A definite win-win situation!" - (http://www.savetowin.org/product-info/how-save-to-win-works)

Any thoughts on PLS programs?

link

Jordan commented on Use Gambling to Encourage Saving

Thanks, Jaskeerat! Those statistics are very enlightening. Most of the nursing home residents I work with in my Bold Folks Home project don't have an opportunity to gamble, at least that I'm aware of. My inspiration comes from relatives who routinely purchase tickets with hopes of hitting it big. I also saw a lot of seniors at the only casino I've visited, which was in Pittsburgh, Pennsylvania. I think that gambling is a simple form of "investment" that has incredibly low barriers to entry, which makes it appeal to people who may have procrastinated on actual retirement planning.