It's unfortunate that he has insufficient assistance through work, but that's the benefit of having your own advisor as you have someone with whom to consult. But how can you do this on your own Get to the web site of your company plan. You will have a number of allocation choices available. They will range from a money market account, which usually has an interest rate of about 1- 2 %, to mutual funds that feature U.S. stocks, U.S. bonds, and international choices. There may also be "sector funds" which may feature leisure companies, real estate or energy holdings.
If clicking on the probable hyperlink doesn't show you the holdings or adequate information open another internet search and simply Google the name of one choice at a time. Look at the holdings. Do you recognize the companies whose stocks are held in the mutual fund Do you like them Do you think they will do well if maybe not immediately, eventually
What about the past performance of the mutual fund that you are looking at, how have they done over this past year of recession If this year is a slow one might they perform similarly While past performance does not guarantee future results, it may be a helpful reference for you during your decision making process.
The bond funds may have a less volatile performance, and if you have access to a money market account it will probably have had a small but positive return.
You've got to remember to keep contributing, even if your employer has stopped contributing if you want something for your future. Remember your goals and your risk tolerance.
Marion R. Syversen, MBA - President
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