Charles Schwab has issued eight New Year’s resolutions that investors can apply to their 401(k), with focusing on long-term goals No. 1 on the list. Even if the economy cools and money is harder to come by, Schwab says, “try to avoid reducing or ceasing regular 401(k) contributions.”

Next up is avoiding dipping into savings, followed by: diversify, make use of educational and advice tools or services available, consider target-date funds and other automatic features, look into a Roth 401(k), listen to presidential candidates’ ideas about tax breaks and other retirement savings ideas and, finally, stay on course by periodically reviewing and, perhaps, rebalancing holdings.

“Whether you are planning to retire next year or 40 years from now, it is crucial that everyone review their 401(k) investments on a regular basis and take advantage of the services provided by employers,” said Catherine Miller, vice president of 401(k) education at Charles Schwab. “Knowing what to look for and being proactive goes a long way toward ensuring that you’ll be ready for retirement.”

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.