3 min read

The Revolutionary Idea That Every Bank is Missing

Why don’t banks visualize the future of our financial decisions?
The Revolutionary Idea That Every Bank is Missing
Photo by Mathieu Stern / Unsplash

Every American’s goal is to make enough money so that they can live comfortably and eventually retire.

So, why don’t ANY online banks show us where our personal finances are taking us?

Why don't they gamify a successful financial future?

This is the purpose of Runway, a beautifully simple financial planner that simulates your financial future.

Check out their profile for a 41-year-old accountant who’s married and lives in Chicago:

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Now check out their profile for an entrepreneur who has a $700K exit then buys a $1.2M house:

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Even a financially illiterate person can immediately see how they need to alter their finances in order to win.

Every bank should give their customers a financial dashboard like this!

Human beings need CLEAR GOALS and IMMEDIATE FEEDBACK while they’re making progress.

By offering people a simulation of their financial future with variables they can modify, it empowers us with a clear idea of where we’re actually going.

For the first time, you might realize “Hey, I can actually retire before I’m 50 if I move, cut my expenses, etc.”

Or you might realize, “Oh damn… I’m on pace to go broke in 5 years.”

Now, I know what you’re thinking…

“Banks can’t show this because it’s impossible to predict someone’s financial future. There are too many different variables, banks can’t be liable for misleading people.”


Banks have some of the worst reputations of practically any industry, because they make money MISLEADING PEOPLE.

But that’s a different discussion.

Right now, all I’m talking about is equipping the individual with a tool that can improve their financial situation.

Why isn’t Runway the consumer dashboard for every major bank?

It’s the simplest and most remarkable way to help the individual.

Right now, banks just list your assets, categorize your expenses, and show you a general trend.

Great. Now I know that I spend 23% on entertainment.


It doesn’t.

Even leading apps like Mint and Personal Finance do this.

This information is useful, but it doesn’t help with LONG TERM PLANNING (aka the big picture).

People want to retire early. But they have no idea if they’ll be able to or not.

What about retirement fund accounts, like Vanguard?

They miss the big picture, too!

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I love that they give the disclaimer that this USELESS PIE CHART is for “educational purposes only.”

I get it. I’m young, so my retirement asset mix is 90% stock, 10% bonds. Greater risk, greater yield.


Why are banks not doing this? It honestly baffles and infuriates me.

Everyone is always saying “We need to improve financial literacy!”

That education won’t happen through schooling. It will happen when people are given tools that simulate their financial future — like a video game.

The problem is, what bank honestly cares enough about the individual to take this risk?

Because god knows they have the data, and the technology to sync all these different accounts together.

I see no simpler way to give individuals a leg up than to show them this information every time they log into their checking account.

Kudos to Runway for putting together such a great tool.