Target date funds are all about setting a date, and forgetting all about it until retirement. New to the concept, and looking for some great investment firms to help you out with your plans? What makes a great target fund is that it doesn’t impede the retirement investment plan during its fund allocation processes.

Target date funds can be a great instrument for financial savings for retirement. It’s pretty simple: you pick a fund, start pouring your savings into that fund, and forget about until you retire. Target date funds have a specific date. For instance, you may plan to retire in 2050. Then, the funds keep piling up to a certain designated amount you need for your retirement.