So, I just got my 3rd quarter 401(k) statement. They have a message at the bottom reminding me that I have a “right to diversify [my] investment portfolio”. I’m just wondering how exactly that works.
Let’s start at the begining. I signed up for the 401(k) pretty soon after I started work, and listened to the whole “diversify” thing…but not really. I ended up putting 90% of my contributions in one fund…that had the word “diversified” in it…it took a while for me to try to readjust to something less dangerous (that is, contribute to more funds), but now a bulk of my money is still in one fund. I called my 401(k) people to see what I can do about it…and there is an option to rebalance. But is it really as simple as pressing 1 or whatever on the phone? I’m not sure if I want everything rebalanced all at once.
I guess I’ll have to call them again when I’m more sure of what should happen.
[Edit: It was really easy to do…check out this page to see how it went.]