Target date funds are investment funds designed to simplify retirement planning. They automatically adjust the asset allocation mix (stocks, bonds, etc.) based on your target retirement year. When retirement is further away, the fund may have a higher stock allocation for potential growth. As you near retirement, the allocation shifts towards more conservative assets to preserve capital. Target date funds offer convenience, are generally well diversified, and often available with reasonable expense ratios. Asset location and tax efficiency should be considered when considering target date funds.