Chances are you have a 401(k) plan at work, writes Brett Arends, and chances are you're not making nearly enough of it. According to the latest study by the Employee Benefits Research Institute, a think tank in Washington, most of us continue to neglect our 401(k) plan. The median account contains a balance of just $18,000, says EBRI. As a consumer, what can you do? Arends offers a five-step plan to make-over your retirement future, advising employees to take control by investigating their investment choices, cut costs by cutting mutual funds, lighten up on U.S. stocks, look to overseas markets for well-priced stock options, and consider diversifying into corporate bond funds or emerging-market bonds.
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