Vanguard vs. Fidelity vs. T. Rowe Price for retirement fund?

My husband I are both going to open Roth IRAs and we are not that great with investing! Anyway, after much research we decided on using a simple, diversified retirement fund. Does anyone have good advice on Vanguard庐 Target Retirement 2045 Fund vs. Fidelity Freedom Fund 2045? I also believe T. Rowe Price offers an option like this.
Thanks!

Regardless of the mutual fund company the philoshy behind target date funds is more important. You have named three excellant mutual fund companies with great track records. Target date funds are something new to most people, but can make since for those who are willing to pay higher fund fees to have the company manage the money for you with the projected target date in mind i.e 2045. The funds objective is to balance the portfolio geared toward that retirement date and as you get older move less out of stocks and into bonds etc.. The industry trend has been to offer these type investment in 401(k) plans for participants who do not understand investing or can't be bothered to realloacte, rebalance their personal portofolio's. I have 15 years in the investment banking industry and would suggest that you look at fund level expenses as they are net of fund performance. Typically the lower the money mangement fees charged by the fund will greatly help performance. Vanguard by far has the industries lower cost mutual funds in general. Compare past performance, fund level fees, and the money managers tenure with the company. This should help you both make a better educated decision prior to investing. You can request a prospectus for each of these funds by contacting the company or you might find it online. All expenses are required by the SEC to be fully disclosed in this prospectus. Keep in mind that if you were to balance the portofolio on your own ,you would be saving more from a fund level expense bases vs. purchasing the full ensuite of money mangement from the fund company. This utimately will impact your overall return/perfomance to purchase target date funds. Vanguard most likely has a financial engine that you could run for no fee or a nominal charge and accomplish the same outcome for less. These financial engines will make a suggested allocation for the investor. Again if you can't be bothered with learning more about investing, these target date funds might make since. Kudos to you both for opening your Roth IRA's. I really like the article written by the author in the link below. Good luck!

The specific fund is far more important than the fund family.

You should get this book:

http://www.amazon.com/Sheldon-Jacobs-Suc...
No Load Fund Investing, by Sheldon Jacobs.

Personally, I prefer T Rowe Price, because both Vanguard and Fidelity have a huge and therefore rather confusing array of funds. Price funds are well managed, and they will provide you with solid, conservative advice. Consult them every year, at least.

Vanguard has the lowest rates, and lots of index funds.
Fidelity has the largest selection of funds.

I would read Jacob's book, which you can get used for a pittance, and then subscribe to a good fund newsletter. Money and Kiplinger's Personal Finance are good magazines, but they will tell you the proper thing to have done three months ago, as a rule.

Moving your money about intelligently from time to time will result in a much better yield.

Good luck!