A handful of investment management firms have started offering target-date funds that use a worker's data to craft a more personalized mix of investments.
div > div.group > p:first-child"> A handful of financial services companies have started making these ubiquitous options in 401 plans less of a one-size-fits-all investment and more tailor-made for retirement savers.
Yet they also typically use age as the determining factor for how best to divvy up a participant's assets among stocks and bonds. While age and time until projected retirement do play a role in investment planning, two people of the same age could be in vastly different situations, which would make their ideal mix of investments look nothing alike.
Among the firms already offering the option is Russell Investments, which has had its so-called"personalized retirement accounts" available as a default option in 401 plans since 2014. To date they've attracted about $300 million in assets, according to a company spokesman.What you need to know before you invest in Lyft's IPONorthern Trust Asset Management recently unveiled a similar option, which will combine its own index funds with participants' personal data.
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