Check this out: A professionally managed 401(k) grows twice as fast as one that’s self-managed. When it comes to your retirement savings, it’s time to do something about the set-it-and-forget-it mentality.
Once you sign up, log in to your 401(k) provider (J.P. Morgan, Fidelity, etc.) through your Blooom account. The site analyzes your current investments and illustrates the stock-to-bond ratio and overall diversification as a flower. A robust daisy means you’ve optimized your contributions, while a shriveled weed means you are probably acting too conservatively.
If you don’t have a financial green thumb, Blooom offers recommendations on how to bring your portfolio back to life. For instance, if you have at least two decades until your retirement party, Blooom might suggest swapping hibernating market funds for diversified funds that emphasize growth. Once you OK the allocations, sit back and Blooom’s algorithm will get to work. You’ll get an email notification summarizing any adjustments to your 401(k) so you can start fantasizing about that around-the-world trip.