Jack Lew isn’t your average baby boomer. There's that Treasury Secretary thing, for starters. What may be even more impressive than his resume, though, is his portfolio of low cost, index-tracking exchange-traded funds. Unlike the vast majority of baby boomers, who don’t use ETFs at all, Lew is saving himself thousands of dollars per year in fees and beating a solid two-thirds of active mutual fund managers.
According to an Executive Branch Disclosure form filed in May 2012 and first published in this Quartz article, the majority of Lew’s investments are tied to a TIAA-CREF retirement account. As well, he has sizable investments in five ETFs: SPDR S&P 500 (SPY), PowerShares Nasdaq 100 (QQQ), SPDR Mid Cap 400 (MDY), iShares Russell 2000 (IWM) and SPDR Dow Jones Industrial Average (DIA).