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I have a 401k through my employer and I am wondering what good practices are for managing it. I know a lot of people set it and forget it for years and years. Is this a terrible thing to do?

How do you go about choosing which options you wish to participate in?

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If you want a low maintenance option, many employers are now offering target retirement funds. You can invest in the 2030 fund if that is when you expect to retire. The fund is managed to have higher risk when it is further from retirement and lower risk when it is closer to the target year.

  • Beware that the fees on these kinds of funds are sometimes much higher than other funds. You do pay for the convenience. – bstpierre Aug 5 '10 at 0:27

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