brizmaker / Getty Images A target-date fund works fairly well for younger investors, but as you get closer to retiring, it might not fit your circumstances. Key Takeaways Conventional wisdom says that a target-date fund can be a simple approach to retirement planning, but a 2025 survey found that 84% of wealthy retirement investors who are nearing retirement prefer other options. Target-date funds are one-size-fits-all, which may work better for younger investors but less well as investors get older. ...