What part of a new retiree's portfolio should be in stocks? The big money managers have changed their thinking in recent years, writes jasonzweigwsj
Imagine millions of investors losing money and not caring—perhaps not even noticing.
Among the 652 target-date funds that existed as of Dec. 31, 2018, every single one lost money last year, according to Morningstar. The average drop among these funds, which are customized for retirement savers, was 6.2% in a year when the S&P 500 fell 4.4%.
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