High Fidelity (2000)

Which account(s) should I allocate my 401k to?I am enrolling in my company’s 401k and am unsure which?

fund to select. My company does not match and my contribution will be 5%/biweekly. I am 26 and this will be my first time enrolling in a 401k. Here are my choices:
SSgA Government Money Market Fund
PIMCO Total Return Fund – Class A
DWS High Income Plus Fund – Class S
SSgA Life SolutionsSM Income & Growth Fund
SSgA Life SolutionsSM Balanced Growth Fund
SSgA Life SolutionsSM Growth Fund
AllianceBernstein Growth and Income Fund – Class A
SSgA S&P® 500 Index Fund
DWS Large Cap Value Fund – Class A
Oppenheimer Capital Appreciation Fund – Class A
Fidelity® Advisor Equity Growth Fund – Class T
Franklin Rising Dividends Fund – Class A
SSgA S&P® MidCap 400 Index Strategy Fund
Alger MidCap Growth Institutional Fund – Class I
Janus Adviser International Growth Fund – Class S
Templeton Growth Fund, Inc. – Class R
Allianz NFJ Small-Cap Value Fund – Class A
SSgA Russell® 2000 Index Strategy Fund
Alger SmallCap Growth Institutional Fund – Class I

Well, since your company IS NOT (@$$holes!!) matching your contribution, I would NOT invest in their 401k.
Reason being, is that this is the only list of funds you have to work with…which sucks hardcore. Moreover, without the additionally contribution money, you are loosing money with these funds relative to what is out there.
I applaud your genius for starting young!! The “ME” generation was not so brilliant and as a result we will be feeling it for some time.

My suggestions, open an account through a discount online brokerage firm (Schwab or Fidelity). Right now you will be paying the least amount in taxes than any other time in your life, so it only makes sense that you keep the government OUT of your retirement returns. I would suggest you open a RothIRA. The brokerage can work with you to arrange the direct deposit you need.
I know Fidelity has somewhere close to 4000 funds to choose from. I just helped my Mother-in-Law do the same thing and would gladly help you select funds if you have questions pertaining to that….simply send me a message on my 360 page.

Hope this helped!
************************** Update ********************************
I cannot respond to your message on my 360. Your Y! Answers setting has it so that you do not accept messages, so I can’t reply…and your email is not listed.
I would definitely open the RothIRA. I like the funds fidelity has to offer, but with a RothIRA, take advantage of your options. First off, what state do you live in? Reason being, is that you should look into actually including Municipal Bonds in your portfolio (roughly 10% of it). Also, I would look at investing in iShares/ETFs. These are like funds but dramatically cheaper and they have far better growth as they are area/sector specific.
As for the $5K coming toward you, you cannot dump it into your RothIRA, as you get a limited amount per year you can invest in it, and that $5K is more than that. I would pay off any other debt you may have first, and then pay towards the zero interest loan you have. If you have no other debt, than I would look at paying of the loan. The extra money per month you free up from paying that loan can be used to invest in individual stocks, and learn to increase you wealth through investing in individual stocks. Let me know if you have more questions through my 360 page…just let me know a way to contact you, since your settings does not allow a response.

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