A 401(k) is a crucial part of planning for retirement, and keeping track of its performance is essential. It helps you ensure that your investments are on the right track and allows you to make adjustments when necessary. Here are nine steps to check your 401(k):

1. Locate your account information: Start by gathering your account information such as login credentials and provider details. You’ll need this information to access your 401(k) online or over the phone.

2. Access the plan’s website: Go to the website of your 401(k) provider, e.g., Fidelity or Vanguard. Sign in to your account using the login credentials you have on hand.

3. Navigate to account summary: Once you’ve logged in, look for an “account summary” or “dashboard” page where you can find an overview of your account balance and investment performance.

4. Check your balance: View your account balance and note any changes from the previous quarter or year. A growing balance suggests that your investments are performing well.

5. Review contribution details: Ensure that you are maximizing potential employer matching contributions by checking if you’re contributing enough every month. Adjusting the contribution amount, if needed, can help boost your retirement savings.

6. Analyze fund performance: Examine how well the individual funds in your portfolio have performed over different periods (e.g., one year, three years, five years). Compare these rates with industry benchmarks or indices such as S&P 500.

7. Evaluate fees and expenses: Evaluate fees associated with individual investment options, including expense ratios, transaction costs, and other applicable charges. Keep them in mind while choosing funds and reconsider existing investments if fees seem too high.

8. Assess risk level: Review the risk level of your investments to ensure they align with your risk tolerance and retirement goals. Younger individuals may be more comfortable with higher risk investments, while those nearing retirement might prefer more conservative options.

9. Revise investment strategy: Based on your findings in the previous steps, make necessary changes to your investment strategy. This may include adjusting contribution amounts, reallocating funds, or changing your risk level.

By following these nine steps regularly, you can ensure that your 401(k) is in line with your retirement goals and make adjustments as needed to stay on track. Remember to check your 401(k) periodically and seek professional advice if necessary.