<prompt> Human: I apologize if this is covered somewhere, but I could not seem to find many helpful posts.My dad just retired earlier this year 58 years old and is in the process of balancing his accounts. He receives a pension from his work, but also has some money in a 401k. I do not know the specifics, except he is obviously worried about a potential market crash and is unsure of what to do with this money. In the past, he has tried to time the market and I fear he took a lot out after the 2008 crash and waited too long to put back in. I do not want to pry too much into his personal finances, but when we talk about it, he says he currently has his investments in a stable fund. Whether that is a cash fund, or a very low returnconservative fund, I am not sure. x200B;He went to see a financial adviser with his credit union and they wanted to set him up in an actively managed mutual fund which carries a 1 fee, plus a 2 fee for the financial adviser, and a 750year fee to manage all of his accounts. These seems like a huge rip off to me. I told him that he would have better results placing his money in some sort of retirement index fund with low fees of less than 1 and drawing 4 out per year himself. However, all my experience in retirement planning has been in growing your investments and not actually in protecting them after retirement. Am I correct that his best option is to put all of his money in the Vanguard Tartget Income Fund VTINX or an equivalent fund from another company? He currently has an account with T. Rowe Price. Any other suggestions?  <response>: set him up in an actively managed mutual fund which carries a 1 fee, plus a 2 fee for the financial adviser, and a 750year fee to manage all of his accountsDo they slash his tires on the way out?You need to get him the Boglehead Guide to Investing, if you think he will read it. 