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Author: bhmirage Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76390  
Subject: New to 401K...confused Date: 5/21/1999 5:05 PM
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Hi there. I'm started investing 2 years ago with a Roth IRA and a taxable account. Those i feel very comfortable with and like i know what is going on and can see where my money is and how it is doing every day. I recently started a new job and will be elgible for the 401(K) in August. I'm having a devil of a time getting information on this and to my amazement none of my coworkers seem to know any details, some of them contribute but don't seem to feel the need that i do to know everything about it..I want specifics, expense ratios, if there are loads, what is a "deferred sales charge" (of 5 percent, sounds like soemthing i need to be aware of, 5 percent is a LOT). From the company i've gotten a big package of materials that i thought would answer my questions but all it really is is a bunch of stuff telling you how great a 401k is and how compound interest works, basic info on asset allocation etc. Nothing specific about our fund choices. The company that does our 401 is Aetna and it's the Aetna MAP V. However when i go to Aetna's web site and look at that product, it lists many funds to choose from, whearas from what i've been able to find out so far, through our companies 401K we have only about 10 choices. The funds are not ones that i can find in Morningstar or see how to track on a day to day basis...Aetna funds and Janus "aspen" funds and some Fidelity funds that I can't find listed in Morningstar or find ticker symbols for. The info pack i got from my company doesn't even say what the specific fund choices are. Also this Map V thing is a "annuity contract"....What does that mean to me??? I'm getting a 15 percent raise in August and planned to use that to contribute the max 15 percent to the 401(K), however i want to get some reassurance that this is the "smart" thing to do and that i'm not going to be getting ripped off by ununderstood expenses. I guess I'm paranoid. But having not that long ago gotten interested and in control of my finances, I'm obsessed and frustrated and worried about what seems to me at this time like a bunch of smoke and mirrors LOL....Sorry for rambling, you know all I really wanted was an "index fund" but guess what there isn't one in there...the closest thing is a "Aetna Index plus Large Cap" fund. which of course i can not find a ticker symbol for and going from the name I'd guess it's not a true index fund. I dont know what anyone can say here to help or reassure me, just wanted to get this off my chest!
stephanie
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