To address the growing concern around outliving retirement savings and underscore that it is never too early to start planning and saving for the future, Voya Financial has launched its Born to Save program.

The firm is offering every baby born in the U.S. on October 20, 2014, a $500 mutual fund investment as a head start on their retirement savings.

According to the U.S. Census Bureau, more than 10,000 babies are born each day and about 10,000 baby boomers turn 65 each day.

This trend is expected to continue for the next two decades and it underscores how important it is for future retires to save early and often to capture the benefits of long-term investing, says Voya.

"Achieving retirement security is one of the biggest challenges our country faces. Without the right plan, many will have to delay retirement or adjust expectations so they don't outlive their savings," said Rodney O. Martin Jr., chairman and CEO of Voya Financial. “In addition to helping the thousands of babies who are born today, this campaign is an opportunity to get everyone thinking differently about how they can improve their readiness."

Registration deadline is December 19, 2014, more information can be found at voya.com/borntosave.