How to Manage Your 401k Without Lifting a Finger
Great news: You can retire rich with very little effort if you have access to a 401(k). The secret lies in knowing how to automate key functions within that workplace retirement account. By setting aside 20 minutes to take the three steps explained below, you can turn your 401(k) into a hands-off wealth-building machine.
First, log into your 401(k) and set your contribution to 10% or more of your income. That should max out any employer matching contributions and give you a running start to a healthy nest egg.
Next, you'll choose investments. You probably have 10 or 20 funds available to you in the 401(k), but target-date funds, or TDFs, will be your low-maintenance choices. A target-date fund is a fund that holds stocks and bonds in a mix that gradually grows more conservative as you near retirement.
Source Fool.com
