[NorthMountain]

Anyway, many mutual fund companies now offer funds that automatically get less stock-heavy as you get older.

And we're talking about 401(k), 403(b), and similar retirement accounts. We're not talking about independent brokerage accounts. What' we're talking about is mutual funds all the way down. This rather vitiates Mr. Jeeves' argument.

Meanwhile, corporate defined benefit pension plans often dwarf the underlying corporation. They were unsustainable from the beginning.

[Leaning Right]

> And we’re talking about 401(k), 403(b), and similar retirement accounts. <

So am I. Most of these retirement accounts now offer mutual funds that automatically get less stock-heavy as time goes on and the person gets older.

These funds go under different names, depending on the mutual fund company. T Rowe Price calls them “Target Date” funds. In case you’re curious, they can be found here:

https://www.troweprice.com/personal-investing/tools/fund-research