People want it easy. The trouble is, life is hard. Saving for your retirement is the same way. It's harder when you consider everything you don't know. This is the dilemma facing all retirement savers. But it's a challenge rife with opportunity for professionals providing advice to that market. Here's how.
Qualified default investment alternatives include both target date funds and target risk (aka “lifestyle”) funds. While the former has the track record, the latter has something better—the allure of ease.
Target risk funds are defined by their familiar “aggressive,” “moderate,” and “conservative” descriptions. Target date funds are defined by their singular characteristic—their date. This trait plays to the typical retirement saver's need for ease. It's as simple as answering the question “What year will I retire?” and plugging everything into the target date fund with a date closest to that year.
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