401K without a financial advisor

How do you manage your 401K if you don't have a financial advisor. I contacted the company that I have my 401K through to ask if they had the funds listed by risk and they told me I had to contact a financial advisor. They are just the book keepers. Any help would be appreciated!

Re: 401K without a financial advisor

Speak to your HR - there should be someone they can get you in contact with regarding your 401k plan

Re: 401K without a financial advisor

Many 401k providers have a "mix" set up based on your anticipated retirement age. That's usually a good place to start if you don't feel comfortable developing your own portfolio.

Re: 401K without a financial advisor

Someone (the "Fiduciary" of the plan) is responsible to give you the information you need about risks. Find out from your employer who that is. According to the Dept of Labor, you should be able to get information on the risks of the funds. You would have to make your own choices, but there should be a website where you can get the information you need. There may even be a "Target" fund which makes investments based on how many years you have until retirement. It rebalances the portfolio as you age. If you want it to be more aggressive, just put in a later date for retirement. The fees can be a little higher for this, but it may be easier and safer for you. Good Luck.

From DOL Website: Department of Labor rules provide guidance designed to make sure participants have sufficient information on the specifics of their investment options so they can make informed decisions. This information includes:

A description of each investment option, including the investment goals, risk, and return characteristics;
Information about any designated investment managers;
An explanation of when and how to request changes in investments, plus any restrictions on when you can change investments;
A statement of the fees that may be charged to your account when you change investment options or buy and sell investments; and
The name, address, and telephone number of the plan fiduciary or other person designated to provide certain additional information on request.

https://www.dol.gov/agencies/ebsa/about-ebsa/our-activities/resource-center/faqs/retirement-plans-and-erisa-consumer

Re: 401K without a financial advisor

Re: 401K without a financial advisor

Re: 401K without a financial advisor

I thought there would be a sort of graph with risks, as some of my other investments had. My employer recently changed to a new 401 k and No, I do not see Risks clearly defined. (sorry)

As the SusiB said try goggling the funds. I took the fund ticker name symbol and googled it. US News and Morningstar gave the risk.

Yahoo Finance shows the risk on the first summary page.

Good luck