The target-date funds which are claiming a growing share of 401(k) dollars use a similar system to determine asset allocation, only a date in the future is used rather than age.

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Fund companies that manage target-date funds assume that young people will pick a faraway date where the allocation to equity is always very high.

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The simplest method of help is through asset allocation funds like balanced and target date funds.

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Because a bucket strategy redistributes funds among buckets rather than rebalancing, it shifts the overall portfolio to a traditionally less risky allocation compared to that in a target date fund.

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The portfolios become more conservative as investors approach their retirement date, by automatically adjusting the allocation to each asset class.

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The shortcut to asset allocation is to buy so-called target-date funds, which gradually turn to a more-conservative mix of assets as shareholders approach retirement.

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