What is a lifestyle fund?
The Bankrate.com financial term of the day is: "lifestyle fund."
A lifestyle fund is a sort of off-the-rack retirement investment similar to clothing that's in a particular age-appropriate style. You don't have to decide on individual stocks or mutual funds for your portfolio -- the lifestyle fund takes care of all of that for you by offering a standard mix of assets appropriate for someone your age, who might have certain goals and want only so much risk.
A lifestyle fund can take a lot of the guesswork out of your retirement portfolio by offering a collection of investments that might be right for you, depending on where you are in life.
For answers to all of your retirement questions, visit the Retirement section at Bankrate.com.