True, investing in target date funds is a decent plan, and we can’t let perfect be the enemy of good enough, but it’s important to understand what you’re giving up — and what you’re paying — when you make the single-fund portfolio choice.
We have a complex portfolio because we have four 401(k)s, two Roth IRAs, an HSA, a Defined Benefit Plan, and a taxable account. That doesn’t include 529s, UTMAs, and Roth IRAs for the kids.
The idea of choosing an asset allocation based on just one factor—the date you plan to retire—doesn’t necessarily account for your unique ability, need, and desire to take risk.