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Question: Who can i show my 401k to for help with investing?

(Posted by: on 2010-09-03 22:42:21)

I have 15 options and I would like help in what I should invest in. I have 150K in there and I keep moving stuff around..and I keep losing money. I retire in 7yrs. Thanks

Posted by: jeff410 on 2010-09-03, 22:48:43

Your 401k plan company should have someone available to help you, for free.

Posted by: Chris on 2010-09-03, 22:49:30

What about the place you have your retirement money? I joined a credit union because one of the benefits was able to get free advice from their investment people.

Posted by: Stephen on 2010-09-03, 22:58:15

Can you briefly summarize what the 15 options are and post these in your question? I'm sure you'll get some good opinions on those. PS: The poster below seems to be suggesting that you can grow your $150K portfolio into $572-724K at the end of 7 years? At a 'modest' return of about 6%? I don't think so!! Whatever math is being used there is simply wrong, wrong by a mile! The plain fact is you are going to have to be, in addition to investing very smart, saving at the max 'catch up' amount the IRS allows, and probably substantial additional savings beyond that, to have any chance of getting it that high in 7 years. But this is America, so anything is possible! Or so they say. Best of luck in the meantime!

Posted by: MarcThyme on 2010-09-04, 05:00:28

IMHO, if you are retiring that soon, your primary target at this point should normally be capital preservation, but I am going to take a wild guess here that you have somehow managed (by moving things around) to "lose money " (on paper) over the last 12-18 months, in spite of the fact the Dow is up almost 20% this last year? Your "safest " bet at this point is probably to move almost all your money into whatever "Growth & Income " fund is available to you, where you can probably muster about 5.5-6.5% growth over the next 7 years IF YOU QUIT MESSING WITH IT, and retire with between $572,009 and $724,155......not really enough to live well on, but you won't starve at least! At that point you will want to "roll it out " to a non-401(k) IRA and get a Financial Advisor you can trust... If the option is available to you (and you can afford it), you may be eligible to play "catch-up " and add more than the standards annual limits into your account, check with your 401(k) Administrator... Best wishes!

Posted by: Caveat Emptor on 2010-09-04, 05:11:19

One of the reasons you "keep losing " is probably BECAUSE you keep moving it around. Decide on the asset allocation that is best for you (equities, fixed income, cash), configure your holdings accordingly and leave it alone.