New job, but clueless on 401K

[jIM_Ohio]

My choices should not be limited because of other people's stupidity.

Logic like this will elect fools for president and frauds for congress (too late??)

If you make something idiot proof, the world will invent a better idiot. It's been happening for centuries.

[disneysteve]

My choices should not be limited because of other people's stupidity.

If you make something idiot proof, the world will invent a better idiot.

I suppose that's true. LOL.

Maybe what they could do is have some type of simple option for those who aren't equipped to sit down and research 3 dozen fund choices. Offer target funds or index funds or "model portfolios" for conservative, moderate and aggressive participants. Make it easy for folks who need/want easy while still offering more involved options for investors who are able to crunch the numbers from the wealth of choices out there. I just suspect there are a lot of people out there who don't participate because they are overwhelmed by the choices and don't know how to decide.

[anonymous_saver]

What I did was I took my 401k information to my bank (WellsFargo) and had my guy there look it all over and tell me what I should pick. I am glad that I did what he said because the last 2 years I have been making over 18% each year in the 401k.

That is incredibly risky.

Do you understand all of the funds that your money is in??? It would be much better to just teach yourself the basics, so that you make a fully informed decision.

Don't take me wrong, I'm glad that your account has been doing so well, it just concerns me with how you chose your funds.

[puck36]

I understand all of the funds that I'm in. The guy at WellsFargo went over them with me. He is the same guy that a few other people I know use and have done about the same as me.