BlackRock launches private equity target date fund to boost retirement savings

BlackRock has launched a target-date fund in collaboration with Great Gray Trust, focusing on private credit, private equity, and other investments to boost annual returns by 0.5% and grow 401(k) savings by 15% over 40 years. Empower is aligned with top investment fund managers like Apollo Global Management and Goldman Sachs. Meanwhile, the SEC is looking into alternative investments in retirement accounts.

Social Security has removed performance statistics data from its website, leaving many in the dark about processing times and benefits. The SSA advises seniors to go online to reduce wait times but lacks support for those without internet access or computer skills, with long appointment wait times and phone assistance delays.

A recent report by the Transamerica Center for Retirement Studies reveals that many workers are guessing their retirement savings needs, with over 6 in 10 workers admitting they lack knowledge about investing for retirement. Experts suggest utilizing retirement calculators and incorporating risk management into retirement strategies to alleviate financial concerns amidst market volatility.

Americans are feeling nervous about investing, with nearly half too anxious to invest and worried about retirement savings. Market volatility underscores the importance of staying invested in a diversified mix of assets. Financial experts recommend patience and a balanced approach to investments to weather uncertain times and safeguard retirement funds.

Read more at Yahoo Finance: Coming soon to your 401(k)? BlackRock’s new private equity target date fund