Lux Investing - What should I be investing into my 401K and what are these options?

What should I be investing into my 401K and what are these options?

I am 26 years old and I have a 401K with no idea how to invest. They give a bunch of options that I can invest by a percentage to each one. Could you tell me what they mean and which ones you think I should invest in. Thanks MFS AGGRESSIVE GROWTH ALLOC FD-A MFS MODERATE ALLOCATION FD-A ALLIANCEBER SMALL-M-CAP VAL FD-A AMERICAN FUNDS GROWTH FUND-R4 MFS FIXED FUND MFS BOND FUND-A MFS TOTAL RETURN FUND-A MFS VALUE FUND-A MFS NEW DISCOVERY FUND-A MASS INVESTORS GROWTH STK FUND-A MASSACHUSETTS INVESTORS TRUST-A MFS EMERGING GROWTH FUND-A MFS CONSERVATIVE ALLOCATION FD-A MFS GLOBAL EQUITY FUND-A MFS GROWTH ALLOCATION FUND-A MFS MID CAP GROWTH FUND-A

Public Comments

Do you want to understand how mutual funds work? Read the book "Mutual Funds For Dummies." Its a great way to learn the basics.
MFS AGGRESSIVE GROWTH ALLOC FD-A You are young so you can handle market volitiliy. This fund is in essence a fund of funds. It is already asset-allocated so all of the different investment styles you see in the other funds is incorporated into it. Now is a great time to get in since the markets are so beat up. You could use all of those other funds, but then you would have to figure out the proper allocations of each, and then systematically rebalance annually or semiannually. Let the pros do it. Use that one fund. If you can't stomach the thought of your acct bouncing around too much (but you should) then use the moderate one. 100% Aggressive growth.
This website will tell you all you need to know.
You're young..time to be aggressive. You may take a hit for awhile but if you put at least 25% (each) in the two " international" funds ( emerging and global)..you will be cooking in the next few years. As for the other 50%...go " value" or " conservative allocation". In the next few months, as you wait for your first " quarterly report", get into reading a little about investing and funds...and if need be, be ready to make changes ... you can find beginners' info on finance/yahoo, or moneycentral/msn. P.S. Or you can just look back at answers from lots and lots of questions here that are similar to yours...you'll probably get a few good answers here and there.