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 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 78% less than the industry average.*
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.
Years to retirement
Birth year
Years to retirement
Birth year
About 45
1998–2003Target Retirement 2065
About 40
1993–1997Target Retirement 2060
About 35
1988–1992Target Retirement 2055
About 30
1983–1987Target Retirement 2050
About 25
1978–1982Target Retirement 2045
About 20
1973–1977Target Retirement 2040
About 15
1968–1972Target Retirement 2035
About 10
1963–1967Target Retirement 2030
About 5
1958–1962Target Retirement 2025
About 0
1953–1957Target Retirement 2020
In retirement
1948–1952Target Retirement 2015
In retirement
Before 1948
*Vanguard Target Retirement Funds average expense ratio: 0.12%. Industry average expense ratio for comparable target-date funds: 0.55%. All averages are asset-weighted. Industry averages exclude Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2020.
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.