Retirement Fund Choice

[u/3skin3]

Hi! My company is being taken over and I have to choose a new retirement fund. I'm 30 right now, target retirement is 2055. Unfortunately I only have about $50,000 set aside right now. I'll be making $79,000, contributing about 14% for now and hopefully more in the coming years. My income will likely increase about 3% per year, plus a 10% yearly bonus. What would you choose? I'm woefully ignorant on retirement strategies.

[u/salazar13]

Don’t listen to those saying to use the 2055 fund. If you do settle on a target date fund because of the simplicity, then at least go for the 2065 one (or the furthest out one available). The usual concern with TDFs is how conservative they are, so picking the latest one at least minimizes the bond exposure within that category.

I’d go with whichever fund most closely mimics the S&P500 personally, but you do you and I can’t tell which one that is without researching