All babies born Oct. 20 eligible for $500 mutual fund

GREEN BAY - Kassandra and Tobias Nichols had no way of knowing their scheduled C-section birth of daughter Iyanna Monae was going to be their lucky day.“My husband was just saying 'you're going to be our lucky charm,'” said Kassandra Nichols.Voya Financial, formerly known as ING, picked October 20th, 2014 as its Born to Save day.Every baby born in the U.S. on Monday will be eligible for a $500 in a mutual fund.“It's to start them off on their retirement planning at a very early age,” said Alan Fischer, with the Green Bay office of Voya Financial.“Retirement? The baby was just born!” FOX 11’s Kelly Schlicht asked financial planner Alan Fischer.“Well, you can never start too early. You see a lot of people starting late,” said Fischer.So what about those of us who weren't born today? What can you do to start saving for retirement?Financial planners say people should save at least 5 thousand dollars a year--or ten percent of their income.“If you can save 5000 a year for retirement from age 25 to 65, you'll end up with roughly a million dollars for your retirement,” said Fischer.While that may sound like a lot, advisors say a million dollars can go quickly.“Social security is probably going to be scaled back in the future, cost of living is going up, people are living a lot longer,” said Fischer.The Aging and Disability Resource Center says as people age, costs can add up.“Things might be so different. Your home might not suit you anymore. You may not be able to drive,” said Laurie Ropson, with the Aging and Disability Resource Center in Green Bay.That's a long way off for the Nichols family--who say they're just happy to have a head start for their newest addition.“It helps tremendously. It's like I said an awesome education to teach them to help themselves,” said Nichols.Starting to save early, and hoping it will add up to a brighter future.