Target-date funds - among the most common investment selections offered by employers to employees in 401(k) plans - used to be the darlings of the retirement investment world. They were popular with novice investors because they take the guesswork out of investing. Since the funds hold a mix of assets that becomes more conservative as the target date for retirement approaches, investors don't have to worry about taking on too much or too little risk as they age. The portfolio rebalancing is done for them.
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