The glide path of target-date funds is increasingly becoming more sophisticated, involving more than simply a transition from equities through to fixed income over a participant’s lifetime. In this white paper from John Hancock Investment Management, “Glide paths within the glide path,” subsets of asset classes are unpacked to share insight into how multiple glide paths work for the duration of a portfolio, from initiation to accumulation and through retirement. A key takeaway is how different subsets of asset classes are more relevant and useful at varying degrees through the course of a participant’s lifecyle. More sophisticated approaches—such as using core and high beta equities for early-stage growth through to Treasury STRIPS and alternatives as a line of defense—are becoming necessary to optimally calibrate potential risk and opportunity to pursue long-term retirement readiness.