Penelope reposted this
As people live longer and social security becomes more uncertain, millions of Americans face the risk of outliving their savings. The shift from defined benefit to defined contribution plans such as 401(k)s hasn't created security in retirement, in part due to underutilization and in part due to outdated approaches to asset allocation. The good news is that technology is enabling greater access, enhanced product diversification, and the ability to design portfolios with specific outcomes. From the inception of Altari Ventures, I saw a significant opportunity for enterprise fintechs to address the 401(k) asset allocation challenge and expand access to retirement plans for underserved employee segments. I’ve shared my thoughts on this topic in the below article for InvestmentNews. With over $7 trillion in 401(k) assets and growing, this market has attracted a diverse crop of startups at all industry layers, making retirement exciting for early stage fintech investors. I am seeing several facets of this theme play out firsthand in the Altari portfolio, with Trevor Gary and Micruity, Kelby Meyers, CPFA®, AIF and Nestimate, and Jean Smart and Penelope. These companies are building the infrastructure needed to improve access to lifetime income and sufficient assets for retirees. https://lnkd.in/eJkcGsq3 #fintech #enterprisefintech #retirement #retirementincome #startups #vc #venturecapital #assetallocation