<prompt> Human: I am about to start investing my savings with Vanguard, I had spent time on figuring out my asset allocation, but then I came along Vanguards Target Retirement Fund which auto redistributes your assets based on how far off from retirement you are, like a sliding risk adjustment. Has anyone had any experience with this fund and have any insight into how beneficial it is?Assistant: Do it! There is a lot of information in this sub, including in the wiki about this topic. Youll get more responses if you read the info and come back with targeted questions vs asking for general opinions.Human: Well one specific I have is can you buy admiral shares, or are you only allowed the funds the portfolio manager chooses?Assistant: If you go with the Target Fund, they allocated within it, so you will not be choosing funds other than the target.You could always keep a bit off to the side to put into funds of your choosing.Human: Even if you qualify for admiral shares? I mostly am concerned about missing out on that aspect of it and not getting the lower cost funds.  <response>: On 250k, an ER of 15 basis points 0.15 costs you 375 per year in fees --- on admiral funds, its 4 basis points 0.04 or 100 per year. There are no admiral classes of Target Retirement funds I believe for SEC legal reasons its explained somewhere at Vanguard or in financial porn.If you have 250K investable... IMHO, 275 extra is not going to kill you.. especially if you do not want to worry about rebalancing and what not. 