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I've been trying to determine the best course of action for investing for my retirement, and thought that some input could be in order. I am currently 20 years old, and live in a state that won't let me invest in stocks yet (have to be 21 or some such nonsense--at least that is what tells me.)
I have a 401k at work, and am putting in 3%, which is the maximum matched by my employer. My employer (UPS) matches my contributions with their stock. I have been looking at the possibility of a Roth IRA as well. But, can I open one of those before I'm 21? Also, it is my understanding that one can still put the full $2000 in for the year 2000 as long as they do so by April 16th(?). I would like to do this, as any year lost is just that--lost. I would like to do that in addition to putting in $2000 for 2001.
Also, are there any suggestions on how best to invest my 401k contributions? I currently am putting 40% in an S&P 500 fund, 40% in a Russell 2000 fund, and 20% in an Aggressive Growth Fund--Bright Horizon 2035. I wonder if it is best for me to concentrate on, say, the S&P 500 fund instead of spreading my money about as I am.
The funds available to me are as follows (With expenses in parentheses):
Government STIF (0.15%)
Stable Value (0.11%)
Balanced (0.16%)
S&P 500 (0.03%)
Russell 2000 (0.06%)
EAFE Index Int'l Fund (0.15%)
Fidelity Magellan (0.60%)
Bright Horizon 2005 (0.45%)
Bright Horizon 2015 (0.45%)
Bright Horizon 2025 (0.45%)
Bright Horizon 2035 (0.45%)
I appreciate any feedback and look forward to your responses. Thank you in advance.

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