Retirement investors often face a wide menu of options for their 401(k) accounts, but they boil down to three basic strategies, Walter Updegrave writes. One is a "do-it-yourself" option that requires research and the most involvement. A more hands-off approach is a target-date fund, which uses a specific retirement year to calculate the mix of stocks and bonds. A third option is a managed account, which lets an investment firm do the work for a fee.
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