More Galleries
10 of the most luxurious airline amenity kits When it comes to in-flight pampering, the amenity kits offered by these 10 airlines are the ultimate in luxury More
7 startups that want to improve your mental health From a text therapy platform to apps that push you reminders to breathe, these self-care startups offer help on a daily basis or in times of need. More
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More

Special Offer
5 of 7
BACK NEXT
Week five: Simplify your 401(k)
Time it takes: 1 hour

You don't have time to own a dozen funds. And you don't need to. You can get a diversified portfolio with just one target-date fund. This hands-off investment changes allocation and strategy as you progress toward retirement. Last year, more than three-quarters of 401(k) plans had target funds, reports benefits consultant Hewitt Associates.

If a target fund isn't an option, trim your portfolio to three index funds: one total domestic stock market, one total foreign and one bond. For recommendations, see the Money 70; for your ideal mix, use the asset-allocation calculator to the right.

If your plan offers automatic rebalancing - 42% do, according to Hewitt - sign up for it; the account will periodically shift investments to get back to your desired allocation.

NEXT: Week six: Automate the rest of your investments

Last updated June 10 2008: 9:39 AM ET

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.