Merrill Edge, the online discount-brokerage arm of Bank of America, released an online application called Face Retirement, which takes a picture of users and simulates the aging of these users.
“In a Stanford University experiment, people who saw age-enhanced images of themselves were more likely to save more for retirement, compared to those who weren’t exposed to their future selves,” said Alok Prasad, head of Merrill Edge, in a press release.
Users enter their age and gender and use their webcam to take a photo. Then, Face Retirement will display images of them at various ages, forecast cost of living, present savings options and allow users to share their pictures on Facebook.
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