In doing a recent Instant Xray analysis of my portfolio I am currently holding, within my equity allocation, a little better than five percent in emerging markets. The two emerging market funds that I hold are NEWFX and DWGAX plus some global asset allocation funds along with some other funds that have some emerging market exposure. I'm thinking, for me now being in retirement, a seven percent position in emerging markets would be all that I'd want due to their volatility and performance over the past five year period. In doing a five year look back, NEWFX has gained an average of 3.2% per year while DWGAX has lost an average of -0.8% per year. However, for the past three year period they have both performed with average annual returns of 10.4% and 6.50% respectively. With this, they both have been underperforming funds when compaired to other funds held within the growth area my portfolio. It will be interesting to see what the next five year period brings. For me, they are both considered a contrarian investment play.
From Xray, within equities, I'm currently 1.27% Latin America, 0.42% Europe Emerging, 0.49% Africa/Middle East, and 3.18% Asia Emerging which brings my emerging market exposure to 5.36%. With this, I've got room for some more emerging market exposure before reaching my seven percent threshold. I'm also considering adding to my commodity strategy fund as many emerging market economies are also major commodity producers.

I have a staple portfolio of balanced funds with different % allocation targets. The only one I sold last year was GLRBX purely for tax management.
Some I hold in taxable, most in my retirement accounts.
PRWCX (MIL's money)
BTBFX, ICMBX, OAKBX, WHGIX, FPACX, JPVDX, VWELX, IFAFX, GRSPX
For those surprised I got an American Fund, I managed to get it with no load.
I need to see if VTMFX might be better for me than VWELX...

@MFO Members: Finally, here is the WealthTrack Mark Cortazzo video.
Regards,
Ted
https://wealthtrack.com/avoiding-disastrous-mistakes-the-danger-of-portfolio-volatility-in-retirement/

FYI: Following another year of strong flows from investors, assets in target-date mutual funds and target-date collective investment trusts totaled more than $1.7 trillion at the end of 2018. The persistent growth and massive amount of assets mean that target-date funds play a key role in helping more and more investors meet their retirement goals.
Here's a few highlights on the competitive landscape from Morningstar's recently released 2019 Target-Date Fund Landscape report.
Regards,
Ted
https://www.morningstar.com/articles/929906/price-continues-to-rule-the-targetdate-fund-landsc.html

@msf
You noted: "If this would be a joint account, it couldn't be an IRA."
My inclusion information for the Roth IRA or a custodial account for a minor is that this would be my preferred path for someone just graduating from high school. If they are not 18, then the "minor" account, which would then have to be transitioned to their stand alone Roth at age 18 (most states).
Fidelity's Roth for kids write
This is the large discussion here in April, 2017 revolving around Roth IRA's for minors.

I recall the money you're dealing with in this question is all traditional IRA, correct?
I'm confused about your portfolio.
You noted recently, that: "PRWCX = 32.35% of my stuff. I'm now bond-heavy, in retirement. It's my favorite, too, and my only balanced fund. I'm 61% bonds, 25% US equities, and 7% foreign equities. The rest is cash and cash equivalents and "other," according to Morningstar.
You also noted in this thread that PRWCX is closed to new investors. This is correct, I can not purchase. But, if you already hold PRWCX at TRPrice; are you not able to add to this fund?

Hi @Catch22,
That was my first thought. And, of course @Crash may add to PRWCX since he currently owns it, unless it’s a different type plan. In my own case, I own it in my traditional but not my Roth - both directly at TRP. The thought has occurred to me that I might do a Roth conversion on a small portion and hence also have capability to move money into the fund inside my Roth there. I haven’t checked with Price, but have every confidence that would work.
Personally, I sleep better spreading management risk around, even with a fund as fine as PRWCX. So I have roughly equal amounts in PRWCX and DODBX. As Crash mentioned, DODBX is probably a bit more volatile and subject to larger drawdowns in some markets. Another I hold is RPGAX. Don’t know if that would fit what Crash is looking for, but I happen to like it a lot.
Added: I understand how one can get google-eyed staring at the impressive returns of PRWCX. But be careful what you wish for. The fund’s had 3 or 4 managerial changes since inception. There will be more. Also, different funds perform better in different investing climates. No guarantee the fund will continue to perform so well in the future. Giroux is doing a lot of fancy footwork using puts, calls, options and other derivatives that, frankly, I don’t fully understand. Some of this success, such as his plays on utilities, has been a result of the extraordinary low rate environment we’ve been in. That will change someday. While I’m sure he knows what he’s doing, in investing certain styles come in and go out of favor.

I recall the money you're dealing with in this question is all traditional IRA, correct?
I'm confused about your portfolio.
You noted recently, that: "PRWCX = 32.35% of my stuff. I'm now bond-heavy, in retirement. It's my favorite, too, and my only balanced fund. I'm 61% bonds, 25% US equities, and 7% foreign equities. The rest is cash and cash equivalents and "other," according to Morningstar.
You also noted in this thread that PRWCX is closed to new investors. This is correct, I can not purchase. But, if you already hold PRWCX at TRPrice; are you not able to add to this fund?

Hi @Crash. I know you like TRP (so do I) so what about RPBAX?
I would also consider looking at retirement funds that are more diversified than the typical 60/40 domestic balanced fund. Should give a smoother ride (maybe) and you won't have to worry about which equities are in favor at any given time, International, domestic, large, small, ect.... I am considering that option myself versus my existing Schwab robo for a large part of my money.
Good luck!

FYI: Avoiding disastrous mistakes in retirement with award-winning financial planner Mark Cortazzo..
Regards,
Ted
https://wealthtrack.com/avoiding-disastrous-mistakes-the-danger-of-portfolio-volatility-in-retirement/

PRFDX was hot out of the gate in the 90s (inception 1985). Talk of the fund community for several years and highly prized by investors. So hot that manager Brian Rogers became a regular on Wall Street Week. Seems to have taken a wrong turn somewhere along the way - though value has been out of favor for years. Not that it’s a bad fund. It isn’t. But hasn’t lived up to the earlier high expectations. I haven’t observed anything outstanding from the fund in near 20 years compared with some of Price’s other offerings. (But perhaps I haven’t looked hard enough.)
Back to Rogers - He retired 2 years ago (2017). Here’s a brief blurb published prior to his retirement.
BRIAN C. ROGERS
Brian, 61, joined T. Rowe Price as a portfolio manager in 1982 and is currently chairman of the Board and chief investment officer. Previously, he served as portfolio manager of the U.S. Large-Cap Equity Income Strategy and the Equity Income Fund for 30 years, beginning with their inception in 1985. From 1994 to 2003 Brian was the first manager of the U.S. Value Equity Strategy and the Value Fund, and he was a founding member of the team managing the U.S. Large-Cap Value Equity Strategy from 2000 to 2015. He was elected to the firm's Board of Directors in 1997, joined the Management Committee in 2003, and was named Board chair in 2007. https://troweprice.gcs-web.com/news-releases/news-release-details/t-rowe-price-chairman-and-cio-brian-rogers-retire-march-2017

A $63 billion behemoth, the VNQ fund from Vanguard is one of the most popular ways to invest in real estate via a brokerage account or retirement plan. The portfolio spans all manner of companies that own properties, ranging from health care facilities to hotels to malls. There are about 200 component stocks that make up this real estate ETF. That's a very diversified list and at a relatively cheap fee structure at just 0.12% annually in expenses. You'll only pay about $12 per year on every $10,000 invested.

@Derf @hank
If one plucked down "x" dollars, buy and hold on Oct. 30, 2007; the below percentages are total return for the period through May 16, 2019.
Same chart layout as last post, but with a start date of Oct. 30, 2007; which is very close to multiple equity market tops before the big melt of Sept., 2008.
Total returns for this period, buy and hold.
--- QQQ = 278%
--- FSPHX = 276%
--- FDGRX = 228%
--- VPMCX = 198%
--- FCNTX = 168%
--- SPY = 138%
Another observation. Same funds chart, but from Oct. 30, 2007 to Jan. 2013.
Imagine an investor deciding to invest $100,00 on Oct. 30, 2007, and vowed to be brave and bold enough to ride the equity markets through 2020, when some of the money would aid in retirement.
They sweat a bit as they find their portfolio value dip going into the end of 2007. But, about half way into 2008, things are looking better. Then early September tests their braveness, to be further tested into the end of the year and the spring of 2009. Going into the end of March, 2009, the worst appears to be past. The equity markets move along and slightly upward through the rest of 2009, 2010 and then the middle of 2011 finds another portfolio whack as the credit rating of the U.S. is downgraded. Eventually, a bit more positive travel for the remainder of 2011 and 2012.
However, take a peek at the returns after a little more than 5 years.
I suspect these are the types of experiences that find folks leaving equity investing and not returning.
Five years can be a very long time to watch one's money travel such a path.
Chart here
Have a good remainder,
Catch

The Best ETFs to Invest in Real Estate
https://money.usnews.com/investing/funds/slideshows/best-etfs-to-invest-in-real-estate
Investors are drawn to real estate investments for different reasons. For some, the investments offer big yield potential as properties generate a steady stream of income for shareholders. For others, real estate assets are a hedge against volatility.
When it comes to real estate stocks, more seem to be popping up every day. Whether you're investing in mortgage lenders or industrial park operators or various real estate investment trusts, there are many options out there to sort through.
If you're having trouble choosing which individual real estate stock to buy, or if you simply prefer the peace of mind that come with diversification, consider these real estate exchange-traded funds instead.
1. Vanguard Real Estate ETF (ticker: VNQ). A $63 billion behemoth, the VNQ fund from Vanguard is one of the most popular ways to invest in real estate via a brokerage account or retirement plan. The portfolio spans all manner of companies that own properties, ranging from health care facilities to hotels to malls.
There are about 200 component stocks that make up this real estate ETF. That's a very diversified list and at a relatively cheap fee structure at just 0.12% annually in expenses. You'll only pay about $12 per year on every $10,000 invested.
2. Schwab U.S. REIT ETF (SCHH). A slightly smaller list of real estate companies makes up the SCHH fund from Schwab, with just under 110 components in this ETF at present and about $5 billion in total assets under management. The fees are a bit smaller too, however, with an expense ratio of just 0.07% annually or $7 each year on every $10,000 you invest. The holdings are big REITs you should know, including mall operator Simon Property Group (SPG) and orange locker operator Public Storage (PSA). – Jeff Reeves

https://finance.yahoo.com/news/the-average-401-k-soared-466-over-the-past-10-years-194608825.html
Fidelity’s latest quarterly retirement savings update had something special to celebrate the 10-year anniversary of “the bottom.”
Keep buying...

https://www.fool.com/retirement/2019/05/12/3-essential-bond-buying-tips-for-newbies.aspx
3 tips for new bonds buying
Investing 101

Ditto @Lawlar.

PRWCX = 32.35% of my stuff. I'm now bond-heavy, in retirement. It's my favorite, too, and my only balanced fund. I'm 61% bonds, 25% US equities, and 7% foreign equities. The rest is cash and cash equivalents and "other," according to Morningstar.

Both series of T. Rowe Price funds, "Target Date" and "Retirement", have glide paths. If you want static allocation ("target risk") funds, those would be Price's "Personal Strategy" funds.
Here are the glide paths for the Target Date funds and the Retirement funds. The former are more conservative.
Target Date glide path:

Retirement glide path:

The Personal Strategy funds are:
Income (PRSIX) - 40% equity (55% bond/cash, 5% alternative)
Balanced (TRPBX) - 60% equity (35% bond/cash, 5% alternative)
Growth (TRSGX) - 80% equity (16% bond/cash, 4% alternative)
This series is not to be confused with older allocation funds like TRP Balanced (RPBAX), with its somewhat more mundane allocation of 65% stock, 35% bond.

Thanks for explaining that @MikeM. Too many different funds from TRP nowadays if you ask me, but I guess they need that to remain competitive. Have to wonder if they couldn’t rename that static fund category. It need not be solely for retirement. May be good reasons someone wants a particular risk exposure regardless of years to retirement.
20-25 years ago I could name most of TP’s funds and explain what they were all about. Today it’s hopeless.
Another thought. That “allocation fee” Oppenheimer slaps on their allocation funds - might make sense if the underlying funds they hold are some type of institutional class or otherwise paying a lower ER. I doubt that’s the case, but might be worth someone’s time to check on it.

@Hank, TRP has offered "static" type funds for some time now. For example, they have 2030 (or 20-whatever) target date fund and 2030 retirement fund. Target date will change portfolio balance as it nears your retirement year. 'Retirement fund' never changes portfolio balance. 'Target risk' is a much better, clearer name than 'retirement fund' for the static portfolio though.

@MikeM: Thank you for filling in the blanks for me concerning robo & personal account.
Your second thought on using TRP retirement fund, or in my case VG, may be the way to go. Three pot it ,Retirement 1/3- 2025 1/3 & 2030 the final 1/3
If I'm reading you right , you'd have 1/2 in TRP & run the other 1/2 yourself ?
Does Schwab use their funds in robo account ?
Good investing to all, Derf