<prompt> Human: I recently changed employers and had an old 401k and Roth IRA with Securian with 5,500 and 2,700 balances, respectively. I rolled these over into a rollover IRA and Roth IRA with Vanguard, and Im now contributing 200 per paycheck to the Roth IRA. I notice that Vanguard offers both ETFs and mutual funds, and lots of options within those categories. Im wondering how to pick a good fund given my particular circumstances. Im in my mid-late 20s, have zero debt, and have a fairly high tolerance for risk in my retirement accounts, so Im not trying to preserve assets and Im willing to accept substantial risk in pursuit of better returns. Im not sure what the difference is between mutual funds and ETFs, and where I should be parking my money. However, my personal views are bearish on international stocks and bullish on US stocks, so Id like my investments to reflect this. Can anyone suggest which Vanguard funds I should consider, or is it better just to leave my money parked in the Target Retirement 20XX fund where it is now?Thanks for your help! Assistant: Yes, use a Target Retirement Fund traditional fund appropriate for your retirement date. If youre in your 20s, the fund will give you plenty of risk, dont worry. I wouldnt let your personal views on things color your investments, since they have no bearing on what the market will actually do. What you know is priced in and much that you dont, and markets move randomly. Human: What type of investors would the other non Target Retirement funds be appropriate for?  <response>: If you wanted to createmanage your own balance of indexes US vs international, stock vs bond you would buy those funds directly instead of the target date package. Once you get beyond those basic indexes, the other funds exist for people who think they can beat the overall market by picking the best sectors. This is basically not any different than peoples belief that they can pick a winning stock. An expensive delusion for most. 