T. Rowe Price Retirement Funds

Get a diversified portfolio for your retirement goals—in one simple investment.

When it comes to saving for retirement, you want to feel confident in your investments. But you may not have the time or experience to build and manage your own portfolio. With the T. Rowe Price Retirement Funds, you get a pre-assembled, professionally managed portfolio—all in a single fund.

Start investing today.

Questions? Call us at 866-691-2244

Why invest in a T. Rowe Price Retirement Fund?

Instant Diversification

Each fund invests in a broad range of stocks, bonds, and short-term investments—making a Retirement Fund a convenient all-in-one solution.

Simple Lifelong Approach

The fund's investment mix automatically adjusts during your working years and throughout retirement, becoming more conservative over time. 

Professional Management

You can feel confident knowing your portfolio is managed by our deeply experienced investment team—averaging 22 years in the industry.

Thoughtful Risk Management

Our portfolio managers focus on carefully balancing market, inflation, and longevity risks—striving to help you build a retirement nest egg that lasts.

Over 95% of our Retirement Funds with a 10-year track record beat their 10-year Lipper average as of 9/30/20.*

Which Retirement Fund is right for you?

Simply choose the fund with the target date closest to the year you plan to retire (assumed to be age 65). Or pick a fund based on the year you were born.

If you were born...

You might consider investing in...

In 1952 or before Retirement 2005 FundRetirement 2010 Fund, or Retirement 2015 Fund
1953–1967     Retirement 2020 FundRetirement 2025 Fund, or Retirement 2030 Fund
1968–1982 Retirement 2035 FundRetirement 2040 Fund, or Retirement 2045 Fund
In 1983 or after Retirement 2050 FundRetirement 2055 Fund, Retirement 2060 Fund, or Retirement 2065 Fund

Note: Depending on your risk tolerance, time horizon, and financial situation, you may consider a Retirement Fund with a different target date.

How the funds’ investment mix changes over time.

Each Retirement Fund’s allocation adjusts over time, aiming to provide a balance of risk and growth potential up to and through retirement.

This ongoing portfolio management, handled by our investment professionals, ensures that you don't have to worry about reacting to short-term market moves or changing your asset allocation as you age.

Retirement Funds Glide Path
retirement funds glide path demonstrating the allocation of stocks and bonds adjusting over time

IMPORTANT CHANGES TO THE TARGET DATE FUNDS: T. Rowe Price is making changes to the glide path of our target date funds. The glide path will be transitioning to the allocations shown above. Specifically, beginning in the second quarter of 2020, the funds' glide path will gradually change to increase its overall equity allocation at certain points and accordingly decrease its bond allocation. Note that there will be no change to the allocation at the target retirement date. For example, the equity allocation at the beginning of the enhanced glide path will be increasing from the original 90% allocation and will be increasing from the original 20% allocation at the end of the glide path. Adjustments to equity and bond allocations will be made incrementally, and we expect the transition to the enhanced glide path to be completed in the second quarter of 2022, depending on market conditions. Please see the prospectus for additional details.

Ready to simplify your retirement investing?


Call 866-691-2244

*36 of our 40 Retirement Funds (Investor, Advisor, and R Class) had a 10-year track record as of 9/30/20 (includes all share classes). 35 of these 36 funds beat their Lipper average for the 10-year period. 39 of 40, 39 of 40, and 38 of 39 of the Retirement Funds outperformed their Lipper average for the 1-, 3-, and 5-year periods ended 9/30/20, respectively. Calculations are based on cumulative total return. Not all funds outperformed for all periods. (Source for data: Lipper Inc.) 

The principal value of the Retirement Funds is not guaranteed at any time, including at or after the target date, which is the approximate year an investor plans to retire (assumed to be age 65) and likely stop making new investments in the fund. If an investor plans to retire significantly earlier or later than age 65, the funds may not be an appropriate investment even if the investor is retiring on or near the target date. The funds’ allocations among a broad range of underlying T. Rowe Price stock and bond funds will (with the exception of the Retirement Balanced Fund) change over time. The funds (other than the Retirement Balanced Fund) emphasize potential capital appreciation during the early phases of retirement asset accumulation, balance the need for appreciation with the need for income as retirement approaches, and focus on supporting an income stream over a long-term postretirement withdrawal horizon. The funds are not designed for a lump sum redemption at the target date and do not guarantee a particular level of income. The funds maintain a substantial allocation to equities both prior to and after the target date, which can result in greater volatility over shorter time horizons.