VTTSX is Vanguard's 2060 Target Retirement Fund:
https://personal.vanguard.com/us/funds/snapshot?FundId=1691&FundIntExt=INT
For what it's worth, I absolutely love target retirement funds.
Last summer, in fact, I wrote an ebook (which got some nice reviews from other financial writers but was a total commercial flop)... but my idea was to see if one could create a really short, boilerplate retirement plan that would produce great results in just about any situation... that book (which wasn't about FIRE but was about FI) argued that cheap target retirement funds are tough to beat over any long haul and keep things super-clean.
Here's that plan, which I called the thirteen word retirement plan:
$5,500 annually into an IRA or 401(k) invested in cheap target retirement funds
P.S. Full disclosure: I don't myself use target retirement fund because I'd already done my retirement savings by the time they become available. But I've recommended them to my kids and to my parents.
i don't like target funds at all . i think they are a bad attempt at one size fits all .
i rather see those who don't know what to do just buy a balanced fund .
target date funds load you up on investments based on time instead of what is happening around you and what part of the cycle an asset is in with no regard for your own risk tolerance.
not only do they not take risk tolerance in to the equation there is no standard format for what a fund should hold. it varys from fund family to fund family.
keep in mind there is noooooooooo standard as to how risky a target date should be even if you are at retirement . never use the words safe when you talk target funds.
the same 2010 target date fund from wells fargo in 2008-2009 lost 11.5% while the t.rowe price 2010 target fund lost 26.5%. that is a target fund that had 2 years to go before retirement. in fact the t.rowe target date fund didn't fall to below 45% equities until 5 years after the target date.
to make things worse after the downfall instead of buying more equities over the next 5 years as good investing tactics would dictate target funds actually shed their holdings further as they reduced down by design the equity side and sold while they really should be buying.
of course they replaced those equities with one of the most dangerous investment today for a retiree which is bonds. with no where else to go but up more likely than down going forward these retiree bond heavy portfolios are just waiting to send panic to those retirees who thought they were doing the conservative thing.
they are quite poor for dollar cost averaging in to . because markets are up 2/3's of the time and down only 1/3 you are buying fewer and fewer shares as time goes on coupled with them reducing equities as part of their plan. the end result is your own performance will lag the funds intention over time.
any method of investing that uses age or age to an event with disregard for the persons own pucker factor and what is happening in the world around them you can bet will not end well.
my vote is for retirement investing stay away from target funds , concentrate on a portfolio of funds where you have control over what to shed and what to keep as the big picture changes.
if you have a very long time frame like most here do dollar cost averaging in to a balanced fund would be likely a better choice than dollar cost averaging in to a declining glide path in to a market that rises over time that will likly leave you much more conservative than the plan dictates . .