Finally, Help With Your 401(k)

With $1.7 trillion at stake, lawmakers and Wall Street are pushing aside regulators to give you real advice

Here comes the cavalry, and with 37 million people having invested $1.7 trillion in 401(k) plans--well, it's about time. This treasure needs protection. From what? No surprise. Surveys routinely show that the enemies of wealth are the oft confused owners of that very stockpile. Example: many investors believe that their company's stock is less risky than a diversified stock fund and that a bond fund is risk free, John Hancock Financial Services finds.

Such backward logic didn't resonate with regulators or the financial-services industry not too long ago--before 401(k) plans had become the pillar of many people's retirement security. But Congress...

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