Salam Alaikom fam.
Was trying to find the VFIFX to check if itās compliant as itās the only one in my 401K plan for some reasonā¦ Any way we can add it to the tickers available?
JZK for all the effort youāve put into this. May Allah reward you and increase you
Salaam, and welcome @Abdulrahman!
VFIFX is actually a target-date fund, which is a āfund of fundsā. This means it invests in several other Vanguard funds to create a portfolio that automatically rebalances as the target retirement date approaches. Unfortunately, this structure makes them more difficult to screen for Shariah compliance.
Your best option is to reach out to your companyās HR or 401(k) provider to see if they offer more investment choices, ideally access to a self-directed brokerage account. This would allow you to select specific halal funds or stocks.
If they donāt provide that option, we have an email template you can use to advocate for adding more halal-friendly investments to your 401(k) plan. Check it out here.
This is what I figured as well Saad. Jzk for the response. Iāll see if I can do send something as weāre a big part of a large 401K scheme with TriNetā¦ Hopefully there are options to do soā¦ Iām just starting on the 401k scheme as a recent immigrant to the US and want to understand it betterā¦ If not, Iāll try to send the template to the company to advocateā¦
Jzkā¦