Retirement - Question 60

I work for a Fortune 500 company and have enrolled in its 401(k) retirement plan. There are about a half dozen investments for me to choose from. What should I do?

A lot depends upon your investment objectives and your age. If you have five or more years until retirement, you may wish to look for growth. Don't keep most of your money in money market funds, government obligation or bond funds. Rather, invest your money in growth funds (both domestic and international). This will keep you ahead of inflation.

Since there are more than 5,600 mutual funds available on the market today, it is very hard to recommend funds without knowing first which funds are offered on your 401(k) selection menu. But if you do have a financial consultant, let him or her knows about your 401(k) plan and ask for recommendations. Even though your consultant does not directly benefit from your 401(k) plan, I believe that he or she will probably extend the courtesy of helping you since you give him other business.