Vanguard Target Retirement Funds

You worked hard to save for retirement. Now choose a fund that works just as hard for you.

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—making the fund 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

On average, Vanguard Target Retirement Fund expense ratios are about one-sixth the cost of their peers—that's a savings of nearly 84%!*

When you're paying less for your funds, more money stays in your account working for you.

Which Target Retirement Fund fits your timeline?

Find out by starting with either the number of years until you expect to retire or your current age. Then select the corresponding bar to get details about the Target Retirement Fund we believe best matches that time frame.

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*Vanguard Target Retirement Funds average expense ratio: 0.17%. Industry average expense ratio for comparable target-date funds: 1.05%. Sources: Vanguard and Lipper, a Thomson Reuters Company, as of December 31, 2013.

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.

Nonretirement accounts, Roth and traditional IRAs, SEP-IRAs, UGMA/UTMA accounts, and education savings accounts (ESAs)
We charge a $20 annual account service fee for each Vanguard fund with a balance of less than $10,000 in an account. This fee doesn't apply if you sign up for account access on vanguard.com and choose electronic delivery of statements, confirmations, reports, prospectuses, and other important documents. This fee is automatically waived for Voyager, Voyager Select, Flagship, and Flagship Select Services clients.

SIMPLE IRAs
We charge participants a $25 annual account service fee for each fund they hold in their Vanguard SIMPLE IRA. This fee is automatically waived for Voyager, Voyager Select, Flagship, and Flagship Select Services clients.

403(b)(7) plans
We charge participants a $15 annual account service fee for each fund they hold in their Vanguard 403(b)(7) account. This fee is automatically waived for Voyager, Voyager Select, Flagship, and Flagship Select Services clients.

Individual 401(k) plans
We charge participants a $20 annual account service fee for each fund they hold in their Vanguard Individual 401(k) account. This fee is automatically waived for everyone in the plan if at least one participant is a Voyager, Voyager Select, Flagship, or Flagship Select Services client.

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