SigFig has announced the launch of SigFig Diversified Income, a robo-managed investment portfolio aimed at retirees.
SigFig says that the portfolio uses eight to 12 income-generating ETFs, which provide diversification, to aim for its target of 4 percent income yield while keeping volatility and risk low. Account owners can choose whether to have that income automatically reinvested or distributed.
"Retirees are perhaps the most in need of an investment portfolio that delivers income, money they use to live on a day-to-day basis. However, many pursue ineffective or risky strategies to meet their daily financial needs," SigFig CEO Mike Sha said in a statement.
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