The National Association of REALTORS® (NAR) has chosen Bank of America Merrill Lynch to develop a financial wellness program for its members, the organization recently announced. The initiative, part of the REALTOR Benefits® Program, aims to provide REALTORS® with personalized financial education services, as well as online resources and financial workshops.
According to NAR, nine in 10 REALTORS® are independent contractors, often without access to employer-provided benefits like retirement plans.
“Despite finding great success in their careers, far too many real estate professionals are falling short with their retirement savings goals,” says NAR 2017 President Bill Brown. “I’m incredibly excited about this opportunity with Bank of America Merrill Lynch, and I think it’s going to offer tremendous benefit for our members.
“NAR does so much to help homebuyers overcome financial challenges to achieve their dreams, so I made it a priority to help our members build a sustainable financial plan to carry them through slower sales years and into their retirement,” Brown says. “This is a positive step toward making sure our members are on strong financial footing.”
In 2016, NAR launched the eight-hour course Real Estate Investing: Build Wealth Representing Investors and Becoming One Yourself, which offers strategies to help members with smart practices for investing. The organization plans to identify and roll out additional member programs, tools and services to promote financial wellness and wealth-building.
For more information, please visit www.nar.realtor/RealtorBenefits.
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