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Top Picks for a Minimalist Portfolio

These one-stop investment options provide convenience and quality at an attractive price.

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Although investing can certainly be confusing--and even intimidating--for beginners, the good news is that investors today have a variety of different tools at their disposal that allow them to own fairly sophisticated portfolios of securities in one simple package.

One great example is target-date funds, which hold a mix of stocks, bonds, and other investments and which adjust their allocations as the account holder ages. Target-date funds have become an increasingly popular option for retirement savers and a fixture in many employer-sponsored retirement plans. Similarly, college savers can rely on the age-based portfolio offerings that are usually offered in 529 college-savings plans; such options automatically adjust their allocations away from stocks and toward fixed income as the beneficiary approaches college age.

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Adam Zoll has a position in the following securities mentioned above: PRWCX, TRRJX. Find out about Morningstar’s editorial policies.