Vanguard Target Date Retirement Funds

Get a complete portfolio in a single fund
Vanguard Target Retirement Funds give you a straightforward approach to a sophisticated problem: how to invest successfully for retirement.

Each fund is designed to help manage risk while trying to grow your retirement savings.

Less risk through broader diversification
Each of the Target Retirement Funds invests in Vanguard's broadest index funds, giving you access to thousands of U.S. and international stocks and bonds, including exposure to the major market sectors and segments.

A professionally managed asset mix
The funds' managers gradually shift each fund's asset allocation to fewer stocks and more bonds so the fund becomes more conservative the closer you get to retirement.

Automatic rebalancing
The managers then maintain the current target mix, freeing you from the hassle of ongoing rebalancing.

Low costs
The average Vanguard Target Retirement fund expense ratios is 70% less than the industry average.*

*On February 11, 2022 Vanguard merged the Vanguard Institutional Target Retirement series into the Vanguard Target Retirement series with the result that shareholders in both series pay 0.08%, and there is no plan-level minimum; investors outside of a plan still have the $1,000 minimum.

Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in a Target Retirement Fund is not guaranteed at any time, including on or after the target date.

These fund suggestions are based on an estimated retirement age of approximately 65. Should you choose to retire significantly earlier or later, you may want to consider a fund with an asset allocation more appropriate to your particular situation.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss. Investments in bonds are subject to interest rate, credit, and inflation risk.