<prompt> Human: Hello PF,I am currently 24 years old looking to invest the max of 5500 for 2016 and I will be contributing the same for 2017 when the new year rolls around. I am questioning which target date to invest in since I can fall into either category and they have very similar allocations. Would it be more beneficial to invest in the 2060 one since prices are cheaper and I will have more room to grow during the early years?Also, If I withdraw from the fund before the target date, whether to withdraw or invest into other funds, are there any consequences?  <response>: The allocations are so close that it really doesnt matter much which one you pick. You are not obligated to hold the fund until the year listed in its name -- thats just a handy way of conveying who each fund might be targeted toward.Supposing this is an IRA that you are talking about max of 5500, if you decide to invest into other funds, you would do so within the IRA, not by actually withdrawing the money out of the IRA. There are no consequences for making such changes, because the money is in an IRA account. If you were to actually take a distribution out of your IRA, that could have tax consequences: If you have a traditional IRA: it would be considered an early distribution and be taxed and penalized unless an exception applies. If you have a Roth IRA: you wouldnt be taxed on removing contributions, but would be taxed and penalized on removing growth. 