For all those young investors out there who are willing to take more risk with their retirement plans because of their longer time horizon, Vanguard has a new fund for you.

On Tuesday Vanguard launched the Vanguard Target Retirement 2055 Fund, a target-date fund for investors between 18 to 22 years old who plan to retire on or around 2055. This fund is in addition to Vanguard’s 11 other target-date offerings. The expense ratio of the fund is expected to be 0.19%, compared to the average expense ratio of 1.17% for a target-date fund in that peer group as of July 2010, according to Lipper, Inc.

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