Review your mix – Have you looked at your investments at all since you initially chose them? I know you may feel confused about the holdings, but there will be fund information available that may tell you the mix of stocks and bonds in the account, if the fund is international or domestic, etc. use that and your risk and goals to help plan.
Rates on fixed income – Lately bonds have been providing a less-than-stellar return for investors. The reasons are not something we can discuss her. But if you are very near retirement may want to be aware of that.
Variety – What diversification do you have that might be beneficial to you in your investments? What options are available to you in your 401k? Depending of your goals and risk you my want to examine the full range of funds available to you.
Compliment with IRA – If you have 401ks sitting in accounts from past employers, those funds may be ‘rolled’ into IRAs. What investment options may be lacking in your 401k may be available in an IRA so that you might all of your assets with a big-picture vision and use the broader variety in a IRA to balance the investments in your 401k.
Is self-directed possible – Self-directed options – estimated to be available in about 50% of 401ks- allow a local advisor to assist you in your account for an additional fee.
Professional advice- Alternatively, you may simply consult with a local advisor who will arrange to monitor your investments through a financial planning relationship. Regular reviews and meetings and knowledge of your goals and plans will guide you both in investment decisions.
This 401k could be a substantial portion of your future income. It needs to be diligently monitored.
Marion Syversen, MBA
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