Millennials, who have begun investing in mutual funds earlier than other generations and who tend to rely on target-date funds as "comfortable," now have three new retirement portfolios to consider.
The portfolios are among the target-date offerings of John Hancock; each is focused on investors expecting to retire in or near 2060. They are the John Hancock Retirement Living through 2060, Retirement Living through II 2060 and Retirement Choices at 2060 portfolios.
The two Retirement Living portfolios, which aim to help manage longevity risk, use a glide path that decreases equity exposure to about 50 percent through the target date; equities gradually taper down over the subsequent 20 years of retirement until reaching roughly 25 percent.
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