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Saving for Retirement (Without Living Like a Pauper or Winning the Lottery) Updated and Revised by Gail MarksJarvis

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14. Simple Does It: No-Brainer Investing with Target-Date Funds

Now for the easiest choice of all. I mean easy—as easy as putting money into a typical savings account at a bank, only with a much better chance that you will be able to travel and go out to dinner once in a while when you retire.

The mutual fund industry has caught on that people are busy and overwhelmed by the strange words that are thrown at them. So the industry has created a new type of fund that could have been named “mutual funds for dummies” or “mutual funds for couch potatoes” or “mutual funds for nervous Nellies.”

The funds actually are called target-date funds, or sometimes life-cycle or retirement-date funds. I know I’ve just thrown another set of vocabulary words at ...

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