The T. Rowe Price target date funds are designed to provide you with an age-appropriate diversified portfolio that you can carry to and through retirement—making them a one-stop approach to retirement investing.

CONVENIENT FUND-OF-FUNDS SOLUTION

  • Incorporates age-appropriate asset allocation, rebalancing, and investment management in a single fund of funds.

MANAGED TO AND THROUGH RETIREMENT

  • While your retirement may begin at age 65, the T. Rowe Price target date funds are designed to be carried with you throughout retirement.

SEEKS TO THOUGHTFULLY BALANCE RETIREMENT RISKS

Our funds seek to balance their exposure to three variables that can cause you to run out of money in retirement:

1. Market volatility—the chance that your portfolio's value will decline due to market losses.

2. Inflation—the chance that inflation will reduce the purchasing power of your savings.

3. Longevity—the chance that you will outlive your savings.

ASSET ALLOCATION ADJUSTS OVER TIME

  • Allocation to stocks and bonds changes gradually over time (commonly referred to as the glide path).

INSTANT PORTFOLIO DIVERSIFICATION

  • Each fund invests in a wide array of T. Rowe Price funds that represent various asset classes and investment styles. Keep in mind, diversification cannot assure a profit or protect against loss in a declining market.
  • We don't charge additional management or "wrap" fees. The target date funds bear the weighted average cost of the underlying funds' expense ratios.

ONGOING ACTIVE MANAGEMENT

  • Each underlying investment is actively managed by professional and well-tenured investment staff.
  • Ongoing modest tactical asset allocation adjustments are made to the target date funds to reflect our market outlook—at no additional cost to you.

The principal value of the Retirement Funds is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the fund. If an investor plans to retire significantly earlier or later than age 65, the funds may not be an appropriate investment even if the investor is retiring on or near the target date. The funds’ allocation among a broad range of underlying T. Rowe Price stock and bond funds will change over time. The funds emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus on supporting an income stream over a long-term post-retirement withdrawal horizon. The funds are not designed for a lump sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.