The 401(k) Outlook

After last week's survey showing that baby boomers were confused about how to best save for their retirement, along comes another one, from the investment management firm Black Rock, this time focusing on 401(k)s. It provides a little more detail on the same subject. Clearly, people with a 401(k) recognize its importance; 74 percent named retirement planning as a top savings goal, more than cited health care (61 percent) or getting out of debt (51 percent).

But again, we see that many people are not really strategizing for their retirement. When people were asked what most influenced their 401(K) strategies, the top-ranked answer was the rate at which their employer matched their contributions. Investing the most money that your employer will match is a great idea, but that shouldn't be the end of your dealings with your 401(k).

And they recognize that they need help. Three quarters of the people surveyed said they'd appreciate getting more assistance from their employer in directing their investments, and 82 percent said they had no experience in dealing with sums of money greater than $100,000. While your employer can no doubt be helpful with your 401(k), it's a useful reminder that this needs to be managed to the best of your abilities, just like any other investment.