Where the hell do I start? I started a new job a few months ago and I'm about to be eligible for retirement benefits. I've read over the package they gave me for a few weeks and I'm absolutely lost still.
1) Previously I worked at a (very) small local business that did not, but I saved a fair amount.
2) They match 100% of my salary up to 6% that I contribute.
3) There is a profit-sharing plan as well but I don't qualify until next year.
4) The whole package is through JP Morgan.
5) There are a ton of different "package options" that I haven't quite figured out.
I plan on putting in 6% my first year and seeing how it goes. If I'm coming in with a solid amount of cushion in my budget every month, I plan to increase my contribution.
What specifics should I be looking at within these packages though? There is one package that is called "SmartRetirement 2040 Select" that says it is for people looking to retire around 2040. Is it a bad idea to put some money into options like that? I can select multiple packages and divide them up...what should those percentages be like?
I'M LOST AS HELL