Outside of investing in the stock market, there are a few other options that you can use to help your money grow and to get you some of the results you have been waiting for. Putting your money to good work for your needs and ensuring that you do not waste it is always the best idea when it comes to your budget and your finances as well. While many people work with the stock market or a mutual fund to help out with some of their investing goals, another option that you can pick is a target date fund.

A target date fund is going to be a special investment vehicle that will help if you would like to go from a high risk position down to a low risk position. These are going to do the work for you automatically, but the point is that you will take on a higher risk when you are preparing and saving up for retirement and have a bunch of years left, but then you will switch down to low risk when you get closer to retirement so that you are able to preserve your money.

But what does this mean? With a target date fund, you will start out at a younger age with a portfolio that has more stocks in them so that they have a chance to grow more aggressively. As you get older and you are reaching your target date to retire, then you will find that the fund will shift, without you having to do anything, from stocks to bonds, CDs, and other funds that are less risky so that you can conserve what you have and will be set for retirement.

There is a problem that can come with the target-date fund though. They can sometimes stop your nest egg from getting to its full potential. Yes, there is less risk than some other investments and you will be able to make sure you don’t lose your portfolio. But you are missing out on a ton of potential gains and you could have a lot less money when it is time to retire.

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