Bill Bengen, the investor widely credited with creating the “4% rule,” says retirees should consider moving away from target-date funds, which are designed to automatically shift asset allocations over time. In comments reported by multiple outlets, he argues that the “target-date” approach is not well aligned with how retirement portfolios should be managed.
The reporting explains that Bengen’s critique centers on skepticism about preset glide paths and the idea that one standardized fund strategy can fit broadly across different retiree needs. Other details emphasize his broader perspective on retirement withdrawal planning and portfolio construction, rather than focusing on the day-to-day features of specific products.
While the outlets share the same core claim—that Bengen questions target-date funds—coverage largely differs in framing. One article highlights his status as the creator of the 4% rule and presents his view as a direct challenge to the most common retirement-fund option, while another provides a more headline-driven summary with fewer additional specifics. Across both, the key point is that Bengen does not support the target-date concept as the default retirement solution.
