There’s an undeniable appeal to “set it and forget it.” That’s the explicit promise of target-date funds (TDFs): choose the year closest to your expected retirement, and your investment mix automatically adjusts as you age. It’s a simple, convenient solution, especially for those who don’t want to worry about market timing or portfolio rebalancing. But convenience comes with trade-offs. TDFs are designed for the average investor, not you. Their simplicity can mask important nuances around risk tolerance, retirement income needs, and outside assets. The one-size-fits-all approach may lead to a portfolio that’s misaligned with retirement goals at the very stage when alignment is of the utmost importance. So, it’s important to understand what a TDF can (and can’t) do for your retirement plan. How Target-Date Funds Work You select a fund based on your expected retirement year (for instance, a 2045 Fund) and it handles the rest. The fund’s managers determine how much to allocate to stocks, bonds, and other assets based on how far you are from that date. Early in your career, the mix is usually aggressive, tilted heavily toward stocks to capture