Why Target Date Funds Fail Investors: A $3 Trillion Delusion Why Target Date Funds Fail Investors: A $3 Trillion Delusion Authored by Michael Lebowitz via RealInvestmentAdvice.com, Morningstar estimates that as of 2022, there is nearly $3 trillion invested in target date mutual funds. Per Morningstar: Target date strategies remain the investment vehicle of choice for retirement savers. …