Insurance Daily News — According to news reporting originating from Washington, D.C., by NewsRx journalists, a patent application by the inventors CRUTTENDEN, Walter (Corona del Mar, CA, US); MARTELL, Jason (Irvine, CA, US), filed on March 24, 2021, was made available online on September 9, 2021.
No assignee for this patent application has been made.
Reporters obtained the following quote from the background information supplied by the inventors: “A variety of financial investment programs exist to facilitate protecting consumer assets. Among these programs, long-term investment plans allow consumers/employees/users to save for their future/retirement within an expected period of time.
“When used correctly, these programs promote not only economic growth but also personal financial safety. Investing resources provides fixed capital (e.g., land, buildings, equipment) for the economy and potential gain for the investor. The most effective long-term investments bear low risks and offer high profits. These investments minimize the effect of market fluctuations and other risks to maximize the expected return.
“Unfortunately, despite the potential reward of investing and risk-aversion techniques, many employees fail to establish any long-term investment plan at all. In some cases, these investment programs are not always available to a large portion of the population. Even where available, many employees/consumers lack the motivation to invest over a long period of time because it is difficult to visualize a high-expected return without sufficient investment expertise. Accordingly, transactions costs (e.g., fees, commission, and so on) are high and employees/consumers/users often are unwilling to accept the risk of investment for an unknown reward. “Related to investment programs, some consumers choose savings to preserve their income. Savings are defined as income not spent (i.e., deferred consumption) such as, for example, money put aside in a bank. This also includes reducing expenses. Savings are relatively accessible to a larger group of users than most investments. A deposit account paying interest is often used to hold money for future needs. Typically, conventional saving methods earn low, fixed rates and present correspondingly lower risks than investments. It is possible to invest resources not spent as previously discussed; however, increased saving does not always correspond to increased investment. […]
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