Target-date mutual funds sounded like a great idea for risk-averse investors when they were first introduced. Pick the year you plan to retire and the fund manager would automatically invest more conservatively as the fund neared its target date.

What's not to like about some of them? Plenty.

Unfortunately, too many fund managers feared low returns during the bull market and a lot of them remained more heavily invested in stocks than they should have. Now, with the horrendous start to the year in the stock market, some funds are staring at 10% to 12% losses.

That's a serious problem if you're looking to retire in the next couple of years.

If you are thinking of investing in a target fund, we recommend sticking with ones that have had solid track records. The best place to find this information is Morningstar.com.

Of the target funds with retirement dates between now and 2014 tracked by Morningstar.com, only seven have been around 10 years or more. That's enough of a history to show you how they fare in a down market.

A good rule of thumb is to go with the ones that did the best when the market was at its worst. That's where you want your hard-earned retirement money.

If you're already invested in a target maturity fund, or are considering a particular fund, be sure to look at its current holdings to be sure the stock/bond weighting is something you're comfortable with in this volatile investment climate.

Ready to put your retirement savings on the fast track? We'll get you started with these articles:

• The Dolan Retirement Catch-Up Plan
• Avoid These 401k Mistakes!
• 3 Ways to Earn Money Through Mutual Funds