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Better Manage Your 401(k) Account

Overview :

Product Creator Mark Bishop
Product Name B L O O O M
Price $25.77
Niche Software
Bonuses Yes, CHECK NOW
Refund 30 Day Money Back Guarantee
Recommend Highly Recommend

Click Here at 11 AM EST on 2018-Jan-15 to get an early bird discount on B L O O O M along with my Exclusive Bonuses

Blooom is a registered investment advisory firm that can manage your 401(k) plan for you. (And no, that’s not a typo; “Blooom” actually does have three “o”s in its name.)

Firms that manage your 401(k) for you aren’t common, but they should be. After all, millions of people hire third parties – such as traditional advisors or robo advisors – to manage their non-taxable investment accounts. Why not get professional management for what is likely the single largest investment account that you possess?

Headquartered in Leawood, Kan., Blooom was founded in 2013 to address this issue. The firm’s researchers analyzed more than 26,000 401(k)s, which included more than $1.6 billion in total assets, and discovered that 83% of 401(k)s are managed incorrectly!

Blooom manages only 401(k) and 403(b) plans — there are no taxable investment accounts or even IRAs. One of the big advantages to this robo investing platform is that they have the ability to manage any 401(k) plan, no matter where the plan is held or who the employer is. You don’t even have to have your employer enter into a partnership arrangement with the service.

How Does Blooom Work?

When you sign up with Blooom, they manage your account for you, but you still maintain full control of the account at all times. You don’t even have to open up a new account or transfer the one you have. Blooom can work with any 401(k) plan that has online access.

The signup process is simple, and once it’s completed, Blooom will adjust your 401(k) plan within 30 days. They do this by factoring your current age against your expected retirement age. They then use an exponential glide path that moves your account closer to the needed bond exposure for a typical retiree. In plain English, that means your portfolio will naturally be more heavily oriented toward stocks in your younger years and move more toward bonds as you get older.

Blooom uses a four-step process to analyze your 401(k):

  1. They look at the options in your 401(k) and eliminate the funds that don’t make sense for you to own.
  2. They lean toward using index funds, but occasionally it will make sense to use actively managed funds to gain investment exposure where needed.
  3. Once they’ve identified the appropriate funds that will get you closest to your target allocation, Blooom’s algorithm will select the ideal investments based on expense and manager experience.
  4. A Blooom advisor double-checks the results and cross-references with your recommended 401(k) allocation.

As is typical of robo advisors, Blooom uses an algorithm to handle most of the work involved in establishing and maintaining your portfolio. However, your portfolio is also subject to review by licensed advisors to make sure everything is operating the way it should. Anytime investment adjustments are made to your 401(k), Blooom will send you an email advising you of the changes.

Investment selection. Blooom works with the investment options that are available in your 401(k). As noted above, they lean toward index funds, but they also add actively managed funds if necessary to gain certain investment exposure. They create a target allocation comprised of the funds available in your plan that most closely support your desired allocation. All of this will be determined by Blooom’s proprietary algorithm.

Unlike typical robo advisors, however, Blooom enables you to make changes to your investment mix. Once your application is set, you still have the option to change it. You simply have to click the button that says Adjust Allocation, and you’ll be able to make the changes. Future rebalancing will be consistent with those changes. In addition, you can also change your target retirement date simply by clicking Adjust Retirement.

It’s important to understand that you have the ultimate control over your 401(k) plan. Blooom acts only as an advisory service, and you’re always free to contact your plan trustee to make the changes you choose. Blooom will advise you anytime changes are made in your account, whether those changes were initiated by you or by the robo advisor.

Rebalancing. Blooom will do a portfolio review every 90 days to make sure your account is staying within the recommended allocations. If changes need to be made, they will be handled automatically. This will enable your account to be adjusted for changes in market values. Regular rebalancing has been shown to add an additional 0.5% to the annual return on investment, and this is part of the benefit that comes from working with Blooom.

Conclusion :

In a nutshell, I’m really thankful to you for keeping up with my B L O O O M Review to the very end, so you can make the right decision for your own business. Good luck and see you again!

If you are on the fence about getting this product or not, please notice that the product has 100% Risk-FREE along with 30 Day Money Back Guarantee that worth the try of everybody.

By checking and purchasing the product through my link, you don’t have to spend any extra fee or anything, and i will have some commission to build my review site to provide you more and more honest reviews. Moreover, i will be glad to give you a huge bonus (free of charge) with every product buying from my link.

Click Here at 11 AM EST on 2018-Jan-15 to get an early bird discount on B L O O O M along with my Exclusive Bonuses

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Please Note: I only promote products I use or have used myself. All have great reviews, significant sales and low refund rates. I try to promote offers from reliable and trustworthy sellers with excellent track record about customer support and are in business for a while.


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