Change Your Attitude on 401(k)s

While the Fidelity Short & Intermediate Term Government Fund(FFXSX Quote) stands alone with a modest positive return over the past three months, its returns for longer periods have been lackluster --hardly what would be expected to supply the finer things in a retirement life.

On the other hand, the Fidelity Spartan Institutional Index Fund(FSIIX Quote) is now 12.10% cheaper than a year ago. So every $100 invested in it now buys more shares and -- if it can revert to a growth rate like the 15.14% that has achieved over the past five years -- its holders can look forward to a few of the finer things in life when they retire years from now. The fund's top holdings include international giants BP(BP Quote) and Vodafone(VOD Quote).

Another foreign-focused offering on the list, the Fidelity International Discovery Fund(FIGRX Quote), has appreciated 17.21% on average over the past five years. Assuming its negative return of 9.72% over the past year isn't the start of a secular downtrend, 401(k) contributions in it are now getting more bang per dollar invested.

The International Discovery Fund's top holdings tend to be solid firms likely to be around years from now, including Royal Dutch Shell(RDSA Quote), Telefonica(TEF Quote), Companhia Vale do Rio Doce(RIO Quote) and natural resources powerhouse BHP Billiton(BHP Quote).

As befits an election year, a more "middle of the road" fund on the list is the Fidelity Independence Fund(FDFFX Quote), which has been producing double-digit returns in recent years. Even though it is now 4.85% lower than a year ago, its investments include firms that aren't likely to disappear any time soon.

Its top holdings include Freeport-McMoRan Copper & Gold(FCX Quote), Chesapeake Energy(CHX Quote), U.S. Steel(X Quote) and Monsanto(MON Quote).

401(k) STRATEGY FOR UNCERTAIN TIMES: CHANGE YOUR ATTITUDE!
NAME, TICKER & TheStreet.com RATINGS GRADE	INVESTMENT OBJECTIVE	3-MO. TOTAL RET'N (%)	12-MO. TOTAL RET'N (%)	3-YR. ANN'L RET'N (%)	5-YR. ANN'L RET'N (%)
Fidelity Adv Leveraged Co Stk A (FLSAX) A-	Growth - Domestic	-3.72	-2.14	11.41	20.42
Fidelity Asset Manager 20% (FASIX) A	Asset Allocation - Domestic	-2.18	-1.22	4.08	5.49
Fidelity Convertible Securities (FCVSX) A+	Convertible	-5.67	-3.65	9.71	10.60
Fidelity Freedom 2000 Fd (FFFBX) A+	Asset Allocation - Domestic	-2.17	-0.81	3.64	4.52
Fidelity Freedom Income Fd (FFFAX) A+	Balanced - Domestic	-1.80	-0.18	3.56	4.15
Fidelity Global Balanced Fund (FGBLX) A	Balanced - Global	-4.40	0.89	9.09	12.25
Fidelity Independence Fund (FDFFX) A	Growth - Domestic	-4.85	10.02	13.52	13.50
Fidelity Inst Short-Interm Govt I (FFXSX) A-	US Gov - Short & Interm	0.43	6.97	4.77	3.56
Fidelity International Discovery Fd (FIGRX) A-	Non-US Equity	-9.39	-9.72	12.37	17.21
Fidelity Spartan Intl Index Inv (FSIIX) A-	Non-US Equity	-10.79	-12.10	10.48	15.14
MAJOR INDICES
S&P 500 Composite Total Return		-8.02	-11.09	2.85	7.02
MSCI EAFE Index (International Equities)		-10.06	-11.73	11.00	15.84
Lehman Brothers Aggregate Bond		-0.89	6.16	4.37	4.55
Source: TheStreet.com Ratings - Data as of 7/31/2008. For an explanation of our ratings, click here.