Investors should understand that target-date funds have drawbacks. One important limitation is the lack of customization in these funds. They follow a predetermined investment strategy based on retirement date, which may not suit everyone's individual financial goals. Additionally, target-date funds may have higher fees compared to managing a portfolio on your own. Another limitation is that these funds don't consider changing market conditions or individual risk tolerance levels. Therefore, investors should carefully evaluate whether a target-date fund aligns with their unique financial situation and goals before making a decision. Awareness of these limitations can help investors make more informed choices for their financial future.