Change Your Attitude on 401(k)s

If you agree that things need to change -- especially with your crucial 401(k) retirement plan -- then here is a good place to start: Change your attitude!

First of all, be thankful that you're able to contribute to a 401(k). That fact in itself puts you one up on the millions of Americans who aren't getting paychecks from which deductions can be taken.

But regarding those negative returns in your 401(k) investment: What about taking the attitude that those diminished portfolio values aren't failures? Try taking the attitude that they represent bargains on mutual funds that will possibly be worth a lot more per share on that glorious day down the line when you become a lady or gentleman of leisure.

Look at it this way: Suppose you're investing $400 per month in a 401(k) fund that has spiked at $40 a share and has now dropped to $20. You could go to pieces over the loss in your paper wealth between its crest and current value. But instead, you could relish the fact that your monthly investment now gets you twice as many shares as it once did.

Assuming it is basically a sound fund that will be worth many times its current value when you need to cash out for retirement, you will be holding many more shares because its price is currently depressed.

Lessons in retirement savings strategy can by learned from the accompanying list of 10 diversified funds from 401(k) giant Fidelity Management. These particular funds may not be offered in your employer's 401(k) plan, but they are typical of what is likely to be available. Each has earned a grade in the "A" range, which equates with a "buy" recommendation, from TheStreet.com Ratings.