So you have one of these “401k thingys” through your employer. Hopefully you have been socking money into it just like your Mom or Dad taught you. The balance has been growing these past 5 years but you still wonder if you picked the right investments that day you sat down with the enrollment paperwork with no 401k advice.
But you have this nagging feeling that you are in over your head.
Your Human Resources person won’t give you advice on whether you still have the right funds and you would ask the guy in the cubicle next to you (since he is always bragging about his investing prowess) but he is too much of a know-it-all to flatter him with your questions. It is hard to find 401k advice.
You tried calling the 1-800 number to the company where your 401k is being held – no help there either, just some confusing suggestions. Maybe you have even ventured online and googled “401k help” or “401k advice” but when the search returned over 17 million web pages you opted to check your Facebook page instead. Perhaps, you were brave enough to login to your 401k account and see if there were any tools you could use to help with all this. If you were able to work your way past all of the complicated Wall Street jargon, you might have found a tool to help you with you investment choices but in all likelihood, if you made it to the point of actually making changes to your portfolio – you left frustrated by how intimidating and confusing the interface became once it was time to pick your investments.
Rest easy my friend, you are not alone.