Pagos SpreadsheetWEB Helps Millennials Devise Retirement Plans
Millennials have a bad reputation for managing their finances. They certainly don’t have the cautious nature of their folks (who grew up hoarding half their savings under the pillow) and most of them prefer living from paycheck to paycheck. Surveys show that 50% of millennials have less than $1,000 in savings. Drowning in loans and having little worry about their retirement accounts or 401k, this generation needs more guidance to help them make the right decisions to safeguard a bright future.
LearnEarnRetire aims to help these young folks by providing them with a simple, yet comprehensive calculator to give them invaluable insight about their future. This way, college students and recent graduates can have a better idea about their alternatives and start saving up at an early age.
“We believe this will really inspire young people to develop plans early on. We developed a calculator in Excel and we presented it live to thousands of college students every year. However, if you let someone download an Excel file, you are allowing people to change it and distribute it.”Alan McMillan
Excel is a great tool for designing dashboards, building a database or running complex calculations. However, passing around spreadsheets come with several limitations. Every year, they would have to make sure that all their users got the latest version of the calculator. Not to mention that people could tamper with or redistribute the workbook. This tool was designed in Excel by finance experts, not coding gurus. Developing this as a web tool would take a tremendous amount of resources and time. On top of that, Alan needed to be able to make changes on the tool himself in the future, and share it with other partners.
SpreadsheetWEB proved to be the best solution for this project, primarily because it could expedite the release process, allowed for development without any coding, and it’s providing a scalable environment.
According to McMillan, the project was “a terrific experience”. From his perspective, “Pagos could go ahead and host this calculator we built and offer it to the world, while protecting our IP and integrity of the tool itself. It’s also flexible that if things change over time, we can implement these changes ourselves. It also allowed us to convert traffic. We could allow our users to get a report and enroll them in our blog and this turned out to be a significant growth for our site.”Alan McMillan
Featuring an improved design and greater accessibility, the calculator was transferred to a web environment in only a few days.
With SpreadsheetWEB, LearnEarnRetire can now distribute this retirement calculator to an even bigger audience and feature it on partner websites as well. Users always have access to the latest version of the application with the latest payroll estimates and inflation data.
“The group really identified our goals and really helped us implement this calculator so that our users would find the best utility. The team made magic happen for us. I was offered a scalable and adaptable solution. Now, I have a scalable platform that can generate a revenue stream and create partnering opportunities. We deployed a product that we’re proud of. I couldn’t have gotten there without SpreadsheetWEB. I can talk with confidence because I know I have the Pagos team behind me.”Alan McMillan