KNOW-NOTHINGS Most people don't manage their 401(k) funds well, according to a batch of studies undertaken by John Hancock Financial Services, Fidelity Investments, Putnam Investments and AARP. Why? Because they are too ignorant, too optimistic, too busy or too lazy. Are you one? Do you know what you should save? The returns and risks of the stocks and bonds that make up your funds? Here are a few no-nos: cashing out 401(k) balances when changing jobs despite heavy penalties; failing to diversify enough and reallocate in a timely way. No wonder, since half of us spend less than six hours a...
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