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Has the 401(k) failed?

22.06.09

Max. It. Out. Of all the personal finance rules -- diversify your portfolio, pay down high-interest debt first -- perhaps no single piece of advice has been so widely touted as this: The key to financial security is putting as much money as you can into your 401(k). After all, what other retirement savings vehicle is portable, benefits from an employer match, provides a tax deduction, and allows the average clock puncher over the course of a career to rack up a seven-figure nest egg?

Even in a down economy, a traditional pension is the safest kind of retirement account. Horror stories of $2,000 phone bills are rare, but thousands -- even millions -- of people could be wasting money on outdated telephone services. I could not have bought my first house long ago without borrowing the down payment from Mom and Dad. Their loan got me started down the home-equity path, and it's paid dividends ever since.



He's worked on both the sell side (Bank of America and Citigroup) and the buy side (Andor Capital Management.) Now as retail analyst David Strasser settles into his new job at Janney Montgomery Scott, he talks to Fortune about retail stocks, the economy and whether consumers are every going to start shopping again. Question: I'm 47 years old and would like to begin participating in my company's 401(k) plan. But I don't know if this is the right time to do so. Do you think I should start now or wait until the economy gets better? --Frank, Brighton, Mass. Question: Should I contribute more to my 401(k) than I have to in order to get the company match? --Terry, Kennett, Missouri

Summertime, and the living is supposed to be easy. The fish are jumping -- or maybe it's the kids at the pool -- and yard work is the last thing on your mind. But the lawn has brown spots, monochrome greenery has replaced those May flowers, and weeds have overrun the mulch beds.

Question: I'm 48 years old and have about 90% of my 401(k) invested in my company's stock and the rest in an international equity fund. I want to diversify further, but don't know where to turn. Any suggestions? --J.D., Glenville, New York Gaming companies have taken a huge hit in the current downturn, and their stocks have been crapping out. But with overseas markets booming and a lot of assets hitting the selling block, some industry watchers say it may be time for investors to put their chips back on the table.

Capture holiday memories with these snazzy shooters - and still have money left for the turkey. The dollar has fallen for much of this decade, and lately the decline is picking up speed. Already down more than 15% against the euro since March, the buck is expected to sink another 10% by the first quarter. Usually, when a once-strong asset falls this far out of favor, the correct long-term strategy is clear: Be a contrarian and buy.



Bankruptcy filings by American consumers increased nearly a third in 2008, according to a new report. Louisville, Colo., may rank first on Money's 2009 list of the Best Places to Live, but Westerville, Ohio, is tops among Facebook fans. Southwest is beating the air travel slump. The biggest U.S. discount airline surprised investors in January by posting earnings of $74 million (before one-time charges) after lower jet fuel prices made up for cheaper ticket prices.

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