Which of the following is true about Modern Retirement Theory vs$.$ Modern Portfolio Theory?

$1.$The application of asset allocation in Modern Portfolio Theory and the application of a balance sheet in Modern Retirement Theory

$2.$The application of asset allocation in Modern Retirement Theory and the application of a balance sheet in Modern Portfolio Theory

$3.$Modern Retirement Theory begins with the question of longevity.

$4.$Modern Portfolio Theory is focused on an individual$$s outcome rather than group averages.

Group of answer choices

$1,2,3,4$

$2,3,4$

$1,2,3$

$1,3$