In terms of my 401k I’m not a fan of target based funds, but in this case with the 529 I ended up doing it, into the moderate based fund. The logic is they are definitely going to college on a specific date. Unlike retirement where on can work longer to make up a loss, college will start on a drop dead date like it or not. Also, since there was a recent drop in the market, I was glad when I just took a distribution for the fall semester. Hope this helps.