Tools of the Trade
A Look at Your Assets
Nobody goes there anymore—it's too crowded.
The new Yankee Stadium has a short right-field porch and a favorable wind, apparently. As a result, left-handed pull hitters are having a heyday banging the ball out of the yard. This surge in home runs comes from professional baseball players selecting the right lumber to ply their skills within the confines of the dimensions of a particular ballpark. A hitter needs to choose from bats of different weights, lengths, and wood types. To pull the ball down the right-field foul line with power, a left-handed batter might want a bat that is lighter—for the necessary bat speed; longer—to reach those outside pitches; and made of maple—for some extra pop. Yankee Stadium is but one ballpark. A good hitter knows the tools of his trade so that he can perform in many different venues and situations.
You are the ballplayer. Your goal is to hit a home run in managing your retirement savings portfolio. The 401(k) plan rules are your ballpark, and different types of assets are your bat selection alternatives. You are the one who needs to know how to select from among a myriad of fund options to successfully manage your retirement savings within the confines of a 401(k) plan. You might say that by comparison a baseball player has it easy in selecting from among a few different bat options when you consider the wide range of choices available to you in managing your retirement savings portfolio. ...