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1. Target-Date Funds (TDFs):

• Advantages:
  • TDFs are designed to be “set it and forget it.” Vanguard's 2065 fund automatically adjusts its asset allocation over time, becoming more conservative as you approach retirement.
  • While the 10% bond allocation might seem unnecessary now, it provides a level of risk diversification.
  • If you prefer simplicity and don’t want to actively manage your allocation, TDFs are a good choice.
• Disadvantages:
  • The bond allocation might be more conservative than you need, especially at your age, since you have a long time horizon and could afford to take more risk.
  • Expense ratios might be slightly higher than a DIY allocation with index funds, though Vanguard's TDFs are still relatively low-cost.

2. Custom Allocation in Your 401(k):

• Advantages:
  • You could replicate your Roth IRA and taxable account strategy by allocating primarily to equity funds like FXAIX (S&P 500), VOO (total U.S. market), VXUS (international), or AVUV (small-cap value).
  • You'd have full control over your asset allocation and could maintain 100% stocks if you prefer a more aggressive portfolio.
• Disadvantages:
  • You’d need to rebalance your portfolio manually over time to maintain your desired allocation, which can be time-consuming.
  • Over the years, you might need to adjust for risk as retirement nears, which requires regular review.

Things to Consider:

1. Your Risk Tolerance: If you're comfortable with a 100% stock portfolio and can withstand the volatility, then moving away from the TDF could make sense.

2. Employer Plan Options: Check what funds are available in your 401(k) plan. If it includes low-cost index funds like those in your taxable account, you could build a portfolio similar to your existing strategy.

3. Cost Efficiency: Compare the expense ratios of the TDF and the funds you'd use for a custom allocation.

4. Rebalancing Convenience: If you don’t want to worry about adjusting your portfolio over time, the TDF could still be a good fit.

Recommendation:

• If you prefer simplicity and don’t want to actively manage your allocation, keeping the TDF is fine.
• If you want to maximize growth and are comfortable managing your own allocation, consider switching to a 100% stock portfolio in your 401(k) with a mix of U.S. (e.g., FXAIX, VOO) and international (e.g., VXUS) funds. Since bonds aren’t critical for your time horizon, you can skip them for now.

Either approach can work well—just ensure it aligns with your goals, time horizon, and comfort with managing your investments.