As we enter 2025 I‘m torn between two very different truths. I’m confident our work at Commonwealth has never been more important, and I’m energized by our vision and plan to enable financial security and opportunity for millions of families living on modest incomes. At the same time, attacks on our time-tested institutions and values—the ‘rules of the road’ we all share—hold potential to overwhelm any progress we might make.

I believe navigating this moment requires us to hold multiple—even conflicting—ideas in mind at once. As we seek to find our footing, a good place to start is reflecting on what matters most.

For Commonwealth, what matters most is a world with broader financial security, dignity, and prosperity. A world where neither the income of your parents, nor your gender or race, predict financial status. I believe these are nearly universal aspirations, shared by the overwhelming majority of people—and ones that serve us all well. 

Our work now is to build a future that moves toward this vision. 

That requires sensible, ambitious strategies that honor individual agency, attract broad support, and foster confidence and trust. There is no dignity without agency, no sustainable change without wide support, and no momentum without increasing trust.

It also requires us to remember that broad economic prosperity and universal dignity depend on the rule of law, and subordination of individual and factional interests to the larger common good; when these things are in peril, real and sustainable progress is not possible. 

Commonwealth’s strategic goal—to create $15B of equitable financial security and opportunity for 10MM people living on low and moderate incomes by 2027—is a concrete expression of our commitment to that future. Through three core strategies—all designed to empower individuals, command wide support, and build confidence in critical institutions—we are helping build a new world:

Where work results in financial security—earning a livelihood is the foundation of our financial lives. For too many, working doesn’t produce the most fundamental outcome that we need: basic financial security—with harmful consequences for families, communities, and employers. Workplace financial tools and benefits are one vital way to strengthen the link between work and financial security; we are proud to continue that work in 2025 through BlackRock’s Emergency Savings Initiative and our Benefits for the Future Initiative.

Where everyone can build wealth—assets and wealth are critical for financial security, and the fuel of long-term economic prosperity. Yet, the data are strikingly clear about how many people lack any meaningful wealth. This year we will continue our drive to enable more people of modest incomes to access one of the great wealth creation engines in human history: capital markets. Our Inclusive Investing portfolio of projects will lead the way, including The Investor Diaries project and wider use of the Unlocking Investor Identity toolkit.

Where our most powerful technologies drive broad prosperity—we are still in the early stages of an accelerating AI revolution that is fundamentally changing our world. It’s critical we ensure that applications of AI relevant to household finances—Financial AI—is shaped by the needs, wants, and aspirations of tens of millions of families living under the median income. We will continue contributing to this urgent goal this year through our ongoing AI research, Emerging Technology for All (ETA) work and Financial AI for Good Guide and Chatbot.

And we’ll continue to add new work and strategies as we see additional opportunities, and as we adapt to a rapidly evolving world.

We must be inspired, learn from, and be guided by the people we seek to serve. People like Laura, a beginning investor from Pennsylvania, who explains that “…being able to invest is a small step in not having to be afraid that I don’t have enough money (to live).”  And Freda, a single mom from Indiana who builds emergency savings at work, and says “it’s an awesome feeling – knowing that the money will be there, is allowing me to focus on being here.”

Focusing forward in times of dramatic change is an enormous challenge. More than ever, we know progress demands collaboration and cooperation. If a future of far broader financial security and opportunity matters deeply to you, let’s talk about how we can work together in 2025.

Timothy Flacke

Co-Founder & Chief Executive Officer