The horizon of target date funds are now reaches into the second half of the twenty-first century. Financial Planning reports that Vanguard [profile] has filed for a 2060 fund to bring its Target Date Retirement Series up-to-date. The fund is intended for 18 to 20 year old investors and will launch in 2012.

Vanguard will also merge the Retirement 2005 Fund with the Target Retirement Income Fund.

"The addition of the 2060 Fund meets the needs of young investors just entering the workforce. Understandably, they may not yet be thinking about retirement savings, but even setting aside a small amount now in a low-cost, balanced portfolio can make a big difference in their future financial security," stated Vanguard CEO Bill McNabb. 

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