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- Title
Personalized Target-Date Funds.
- Authors
Aboagye, Kobby; Page, Sébastien; Schafer, Louisa; Tzitzouris, James
- Abstract
The simplicity and regulatory protection (when used as a default investment) of target-date funds (TDFs) offer advantages to both employers and employees saving for retirement in defined-contribution plans. But despite their commercial success, TDFs have faced criticism. The authors review the attacks on TDFs, argue in defense of them, and build a model to accommodate important extensions to traditional TDFs: further personalization and dynamic allocations and spending. They estimate that the benefits of these improvements average an additional 5%-6% in annual, risk-adjusted spending.
- Publication
Journal of Portfolio Management, 2024, Vol 50, Issue 5, p57
- ISSN
0095-4918
- Publication type
Academic Journal
- DOI
10.3905/jpm.2024.1.584