Vanguard's target date funds are built from 4 index funds - US Stocks, US Bonds, International Stocks, and International Bonds. Each of these index funds is available in Admiral shares to investors who invest at least $10,000 in them. If your smallest allocation between the 4 index funds is greater than $10,000 and you don't mind doing your own rebalancing, you probably ought to convert all your target date funds to the component index funds. The target date funds are great for getting low cost diversified investment when starting out with as little as $1,000 and they're great for people who don't want to manage (rebalance) their investments. But the convienience of the fund taking care of rebalancing comes at a cost - the target date fund's expense ratio on top of the expense ratios of the component funds. Vangaurd does a great job keeping expenses low, but that's still about $10/month for your current investment.