Note: This video is one of several interviews that Morningstar director of personal finance Christine Benz had with Vanguard officials at this year's Bogleheads event. See all of the interviews here.
Christine Benz: Let's talk about target-date funds in retirement or target retirement as Vanguard calls them. It seems that once someone approaches retirement, the retiree would want to reserve the discretion to pick and chose where they go for cash flows from that portfolio. Right now, for example maybe you'd be pulling from stocks, because stocks have been going up. Do you think target-date funds as they are currently situated, constructed help solve for the issues that retirees face, or do you think that there is more work to be done in that area?