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401(k)

How can I rebuild my 401(k)?

As a matter of arithmetic, there are only three ways: work longer, save more, and get high returns.

If you are within 10 years of retirement and had your 401(k) money in anything but the most conservative funds, you’re almost certainly going to have to delay retirement. Each year you work provides another year of savings; it’s also another year that you don’t have to draw from your 401(k), which may mean you don’t need as much as you thought.

You’ll also need to save more. To recoup a 50 percent loss in your 401(k), you need to increase your account by 100 percent. Unless you’re willing to wait for the market to double from today’s level, you’ll have to shovel in fresh money of your own.

The other way to recover from your losses is to earn high returns — that means investments that carry some risk, including stocks. But there is one low-risk, high-return incentive available from your 401(k), and that’s your company’s matching contribution. An employer that kicks in 50 cents for every dollar you save is handing you a 50 percent return on your investment, so be sure to save at least enough to get all you’re entitled of your company’s match. To dig out of the hole created by this market, you’ll need all the help you can get.

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  • Pension Envy

    If only you had a retirement plan like those gold-plated pensions that state employees get, you'd be set for life. Or would you? by Eric Schurenberg

    Blog posts | Mar 5, 2010

  • Employees Speak: Automate my 401(k). Now!

    Thirty years ago the 401(k) was heralded as a great extension of the American way: Workers would have the freedom to make their own investment choices-including the choice of whether to invest for their retirement in the first place. Freedom apparently has its limitations. A new survey reports...

    Blog posts | Feb 10, 2010

  • Bob Reynolds, 401(k) Crusader

    If you want to know where your next 401(k) will come from and what it will look like, you might ask Bob Reynolds, CEO of Putnam Investments. by Eric Schurenberg

    Blog posts | Mar 1, 2010

  • Morningstar Expert: Investing Help for Your 401(k)

    In her new book, 30-Minute Money Solutions, Morningstar's Christine Benz offers a simple three-step plan for investing in your 401(k) plan. The first thing you need to decide is how much control you want over your retirement portfolio. by Christine Benz

    Articles | Feb 8, 2010

  • What to Do with Your Old 401(k)

    Jill Schlesinger hits the streets to answer financial questions. Today, advice on how to handle a 401(k) from a former job.

    Videos | Feb 19, 2010

  • 401(k) Tip: Do Less, Earn 2 Percentage Points More

    Finally, a payoff for doing less work. A study of more than 400,000 401(k) participants concludes that individuals who rely on some form of professional asset allocation advice did better-to the tune of nearly two percentage points-than folks who make their own allocation decisions. by Carla Fried

    Blog posts | Feb 17, 2010

  • Best Places for Your 401(k) Rollover

    Banks share of the 401(k) rollover market has nearly doubled since 2007. If you're considering rolling over your money to a bank, be aware it is not as nearly safe, or smart as you may think. by Carla Fried

    Blog posts | Feb 16, 2010

  • Ask the Experts: Mortgages, Credit Cards and More

    You asked about interest rates, Social Security, retirement and other tough financial issues - MoneyWatch editors had the answers. Send your questions to AskTheExperts@MoneyWatch.com

    Videos | Mar 5, 2010

  • Best 401(k) Moves When You Leave a Job

    Leaving a company means you need to decide what to do with your 401(k) savings ? and the right answer is worth tens of thousands of dollars. These seven rules will help you minimize your taxes and maximize your nest egg. 1. Do Not Cash Out Nearly half of employees cash out their 401(k)...

    Articles | Nov 24, 2009

  • Make Your Money Last for Life

    Don't consider your retirement assets to be money you can spend in retirement. Instead, consider your retirement investments to be a monthly paycheck generator. Then, spend no more than this paycheck. To determine the size of your monthly retirement paycheck, use one or more of the three methods...

    Blog posts | Mar 3, 2010

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