Article: Life-cycle funds make investing automatic

For simplicity's sake, it's hard to beat life-cycle mutual funds. These investments combine the usual fund benefits, diversification, professional management, low contribution requirements and so on, with a high degree of ongoing monitoring.

All you really have to do is open an account, then plunk down your money. No need to monitor your holdings or even rebalance.

"These funds have great appeal to people who don't want to spend the time or don't have the interest in getting a balanced portfolio together," said Gerry Mullane, a principal at the Vanguard Group in Valley Forge, Pa. "They're one of the simplest forms of advice."

All mutual funds provide ongoing monitoring to a degree, but what ...