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Why retirement savers are ditching the 'do-it-yourself' approach in favor of target date investments

Why retirement savers are ditching the 'do-it-yourself' approach in favor of target date investments

Finance
It turns out "do-it-yourself" investing is not all that it's cracked up to be.Employees saving for retirement in workplace 401(k) plans are increasingly eager (or willing) to autopilot their allocation and portfolio management decisions.Vanguard reports that among the more than 8,500 retirement plans it administers, with more than 4.6 million participants, usage of target date funds, balanced funds or managed account services has tripled in the decade. This explosive growth has taken place since Washington gave its blessing for plans to use target date funds (TDF) as the "default" investment.More than half of workers now rely on some form of portfolio allocation advice, with the vast majority being a TDF. Vanguard expects nearly 75 percent of investors will be leaning on professional advic...