The United Services Automobile Association (USAA) has created five new target retirement funds to simplify investing for retirement and to provide investors greater value by offering lower costs that are 47% below the latest similar Lipper category expense ratio average.
The funds strategy is founded on managing and investing risk alongside specific retirement dates, becoming increasingly more conservative as funds mature.
The five funds are the USAA Target Retirement 2020, 2030, 2040, 2050 funds and the USAA Retirement Income. Each fund, with the exclusion of the USAA Retirement Income, coincides with investors seeking to retire on or around the date of the fund. The USAA Retirement Income is targeted at investors currently living in retirement.
Our collection of Target Retirement Funds will make it easier to plan for the future, and will encourage long-term investing and diversification, said Chris Claus, president of USAA Financial Services Group.