I was looking at the Target Funds my retirement plan offers. I find that all the allocations are to Funds of Funds. The Funds of Funds claim to match things like the S&P500 index but they are invested in managed funds.
Of course, I had to look at the fees.
Target fund .57%
Fund of funds .44%
Actual Fund 1.5% more or less
As mentioned elsewhere, quite a chunk for someone not taking the time to learn how things work, if you were taking out 4%, you would have to set aside another 2.5% to cover that.
I opted for, as the FA giving the class said, the sophisticated self managed borkerage account with the .37% fee S&P 500 index. I even convinced one of my cow-orkers to do the same.