"Age may be a proxy for one's return needs, but it is hardly the only one. Unfortunately, Target Date Funds assume age is the only important factor when determining the investment needs of the retirement saver.... No two investors risk appetites are exactly alike and Target Risk Funds can be advantageous in that they ensure that risk is based on an investor's specific tolerance and not solely on the length of time until a future date.... Target Risk Funds ... lack the 'set-it-and-forget-it' desirability of Target Date Funds.... For the average 401k investor Target Risk Funds are easier to understand."