If you'd rather spend more time at the beach or on the links and less time fretting over your investments, relax. Retirees have plenty of one-stop fund options to choose from. Target-date retirement funds, which allow you to pick the fund whose asset allocation is geared to your expected retirement date, typically include a choice for investors who have already reached their target dates. In choosing the right retirement-income fund, avoid those that heap an additional layer of fees on top of the expenses of the underlying funds. Total annual expenses for one-stop life-cycle funds should be less than 1%.
After fees, asset mix is the most important factor in determining which retirement-income fund is best for you. Funds from Fidelity, T. Rowe Price and Vanguard all have low fees, but each has a slightly different investing strategy.
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