These funds automatically adjust their allocation over time to become more ... in a single security and use that to plan for a major event like retirement. Life-cycle funds offer their investors ...

It is widely agreed that asset allocation accounts for a large part of the variability in the return on a typical investor's portfolio. This is especially true if the overall portfolio is invested in ...

For example, an investor's risk aversion can change after a major life event ... shift their allocation to safer assets if they plan to use a portion of their investments to fund a large future ...