If you are trying to protect then cash or short term fixed are your hiding places. If you are only 4 years away from retirement I wouldn't stray too far into the equity side of things. I would stay mostly in balanced and short term fixed. Make sense?
Target date funds are not my favorite as you get real close to retirement because they shift in to bond funds which are no good in this environment. For example, the 20 year bond index is down 13% this year. I don't want to be forced into this by a target date fund. I would have rather been in ST bonds or floating rate.
This post was edited on 12/28 at 11:09 am