A few days ago I signed up for something that still more than a little mystifies me: my employer's 401(k) plan. I could have done this on the first day of work, but figured I could find a better use for a portion of my paycheck. To start the new year, however, I decided to get in on their recent decision to switch over to a new provider. That, and the idea of matching contributions sounded appealing.
I am not an investor. Granted, in a given day I can tell you what the inflation rate was last month, the market price of oil per barrel, the revolution that will be ignited if the Dow goes back down below 10,000 and far too much about the housing and equipment rental markets. Incessantly checking mutual fund performance does not sound like an enjoyable evening.
Fidelity, the selected provider, offers "Freedom Funds" that correspond to your current age and target retirement year. The strategy goes along the lines of aggressive investing early in the fund's life (stocks, international holdings) with more conservative choices (bonds, money market) as the target age nears. I went with for the age group above mine to err on the side of caution (it has performed better). I may move some of it out of there later on into other more traditional funds, but right now the account balance reads triple zeroes.
That, and like most, I am watching this next election cycle.